As part of an organization strategy for growth, many are utilizing the power of OKRs The OKR process begins with setting up the business objectives. Annual, quarterly and monthly goals can therefore be arranges as part of the business’ goals.
The objectives of the business need to be clearly stated and ways of achieving them by the entrepreneur. You should be backed with a team to help you in ensuring that you set the goals as your major priority.
Your workers play a huge role in determining the nature of your business accomplishing its goals therefore, they should be included in part of the process. It can be difficult for your workers to define their objectives. Through the OKR, it is a sure means of ensuring that your workers are in sync with the business objectives.
Below are some tip you can adopt in defining your objectives as part of the terms of the key results
1. Keep it Simple
There needs to be a focus on what you hope to achieve in a certain time frame. The objective should also be prioritized based on the needs of the business. The nature and complexity of objectives should all be factored as part of the objectives of the business venture. You should also look into the resources and the available time while factoring the unexpected changes which can occur in the line of business.
2. Specifying Goals
It Is recommend to consult with others in relation with the set objectives as a means of accomplishing the end results. It Is highly recommend to have a well set action plan when specifying the different objectives clearly. The performance of the business should be evaluated after you have clearly set out each specific key result.
When the objectives are clearly stated and defined, it becomes easier for you to manage your expectations. It is better to have concise objectives in order to know what exactly you need to do to accomplish those goals.
OKRs Which are Measurable
The OKRs should have a precise unit of measurement. A unit of measurement for example can be the total amount of revenues gained from the monthly sales of your stock. You can still measure your OKRs without using a OKR software when setting to accomplish your goals. However, it not that simple to find a unit of measurement for goals which are not quantifiable.
Overview of Stretch Goals
It is good to have goals which hare challenging to accomplish and also attainable. Stretch goals are another means used by entrepreneurs to act as a motivating factor for workers. The problem with stretch goals is that they need to be carefully planned out before execution. The stretch goals can create a feeling of frustration from the workers when they fail to accomplish the set goals.