What's your business development strategy score?

1 The business development strategy score framework

The business development strategy score framework is based on four key dimensions: vision, value proposition, execution, and measurement. Each dimension has a set of questions that you can use to rate your business development strategy on a scale of 1 to 5, where 1 means poor and 5 means excellent. To assess your vision, consider how clear and compelling it is, how well it aligns with your organization's mission and values, and how well you communicate it to stakeholders and potential partners. For value proposition, evaluate your understanding of the target market and customer needs, the uniqueness of your offering, and how you demonstrate the benefits and impact of your solution. Execution requires planning and executing activities effectively, prioritizing resources and time, as well as managing risks and challenges. Lastly, measure progress with metrics and KPIs to track performance, use data and feedback to improve strategy and tactics.

2 How to calculate your business development strategy score

To calculate your business development strategy score, you need to answer the questions for each dimension and assign a score from 1 to 5. Then, add up the scores for each dimension and divide by 4 to get your overall business development strategy score which can range from 1 to 5. For example, if you have a vision score of 4, value proposition of 3, execution of 4 and measurement of 3, the total would be 14 and your business development strategy score would be 3.5.

3 How to interpret your business development strategy score

Your business development strategy score reflects how well you are doing in each dimension of the framework. Generally, a score of 1-2 suggests a weak strategy that requires significant improvement, while a score of 2-3 indicates an average strategy that needs improvement. A score of 3-4 suggests a good strategy with minor improvement needed, and a score of 4-5 denotes an excellent strategy that needs maintenance. A weak strategy may lack a clear vision, value proposition, execution system or measurement system; whereas a good strategy may have these components in place. An average strategy may meet expectations but not exceed them; and an excellent strategy may be dominating the market or creating opportunities.

4 How to improve your business development strategy score

Your business development strategy score is not a fixed or final result; instead, it is a dynamic and flexible tool that you can use to monitor and improve your business development strategy. To do this, you should review your score regularly to identify your strengths and weaknesses in each dimension. Additionally, it's important to set specific and realistic goals for each dimension and track your progress and results. Moreover, you should seek feedback from stakeholders, customers, partners, and peers on how to improve your strategy and performance. Furthermore, you should learn from successes and failures, apply best practices and lessons learned to your strategy and actions, experiment with new ideas and approaches, test their effectiveness and impact, celebrate achievements, and recognize the team and partners for their contributions.

5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?