Yesterday I met with my Business Development Department for our quarterly review of objectives and goals. We are a company that is guided by objectives and goals. Each department, each department head and other direct reports have metrics to guide their work. Our business development goals and objectives allow the department to practically guide itself. I am the department head of business development. Given all my other duties as CEO and all my travel I am often unavailable. I believe setting direction via goals and objectives has allowed this department to function very well without much management. The team knows where we are going, how to get there and how to measure success.
Here are some objectives we use in business development:
1. ______ number of press releases and newsletters in 2010.
2. ______ number of phone calls per week.
3. ______ number of leads in CRM at one time.
4. ______number of Facebook fans by the end of the year.
5. ______number of lead packets sent per week.
6. ______number of bids and proposals per year.
7. ______percent of bids and proposals won.
8. ______number of leads we bring home from each tradeshow.
9. ______number of client quotes (testimonials) we receive in 2010.
Hopefully, these will give you some ideas if you are struggling to come up with something measurable. An objective is measureable and a goal is more intangible. Some of our goals include extending our brand awareness, increasing our name recognition (be top of mind with potential clients) and to build relationships. We utilize software including CRM to help report on all of our goals and objectives. We can also generate charts and graphs to more easily see trends in some areas. Progress is reviewed at various intervals depending on the objective. Some reports we look at every week in our bid review meeting, others are brought to a biweekly tactical meeting and others are reviewed on a quarterly basis.
“A manager’s job should be based on a task to be performed in order to attain the company’s objectives… the manager should be directed and controlled by the objectives of performance rather than by his boss.” ~Peter Drucker
Do you manage by objectives? What business development objectives do you utilize?