Setting objectives and goals is important for any business’s growth, and OKRs are the solution for many businesses. They provide obtainable goals and objectives that managers can rely on to get real data on results. But what is the OKR framework, and how can you understand it better? The following information will help you understand the OKR framework and how to apply it to your business goals:

OKRs & the Measurable Results that are Achieved

The first thing that you need to understand is the concept of OKRs, which are Objectives and Key Results. This approach to management starts with setting goals with objectives that are measurable. The endpoint has key results that keep you informed of the progress and growth of your business.

How do you measure the objectives and results of the OKR framework?

The question still remains, “How can you measure objectives and results?” The answer depends on the metrics and data that can be obtained. Here are a few solutions businesses use to measure objectives and results:

• Create realistic timelines to reach objectives
• Set specific tasks around objectives and goals
• Create reports when objectives are met on time

The measurable objectives and key results keep your business focused on attainable goals for consistent growth and success. A measurable objective or goal would be finishing a number of tasks in a certain timeframe or reducing the costs of certain areas of your business in a set timeframe. It could also be measurable objectives for CRM and sales, such as bidding a certain number of projects within the OKR framework timeline. The key here is that the results are measurable so you can clearly see where achievements are being made or where your business needs to make changes.

Setting the Attainable Objectives of Your Business Goals

The first step in the OKR framework is setting attainable goals. The goals that you set out to achieve with the OKR framework should be realistic and attainable. This is where you want to balance ambitious approaches that are within the realm of possibility. You can do things like market research to know more about the limitations and possibilities when goals are set.

Getting the Key Results that Give You a Measurable Outcome

The endpoint of the OKR framework is the results, which have to have a measurable outcome. Key results need to have clear data that shows achievements and information about achievements. The data can be used to create reports and set new goals for ambitious achievements and continued growth for your company.

The Framework that Makes OKRs a Successful Approach to Growth

The OKR framework is actually a lot more than just setting objectives and goals and then waiting to see results. The key principles need to be followed for your OKR framework to be successful and for your business to see the measurable results. The OKR framework consists of the following principles to set objectives and see measurable results:

• Objectives that are measurable—The key to the OKR framework is the measurable objectives. The objectives have to be clear with a measurable aspect, such as the percentage of sales or the timeline to complete a project. While the objectives have to be measurable, they also need to be elastic to allow for scalability and measurable changes, such as adding a product to inventory or adding more tasks to a project that is on a tight schedule.
• Keep objectives simple and obtainable—The objectives of an OKR framework also have to remain simple and obtainable. You want to encourage your staff to reach for the moon, but you also want to keep your objectives realistic and measurable. Keep plans to achieve a goal clear and concise to ensure the end result is obtainable.
• Encourage collaboration—Another important aspect of the OKR framework is team collaboration. You want to encourage bi-directional approaches where teams work in unison like a well-oiled machine to achieve business goals. Creative and administrative teams should be able to easily work together in a manner where every idea is heard.
• Transparent goals, objectives, and achievements—Transparency is one of the most important aspects of the OKR framework. It helps show the measurable results and allows you to share different aspects of your projects with internal teams, investors, and other parties that have an interest in your business and its growth. This can be done with reports issued on a timeline of a project that provides information on goals, achievements, and objectives for completing the project.
• Encourage ambition and reach for the sky—You also want to encourage your staff and parties that collaborate with your business to reach for the sky. Be ambitious but realistic with the goals and objectives that you set. Set goals that may seem to be just out of reach and reward the efforts when they are achieved.

These are areas of the OKR framework that you want to concentrate on when setting objectives to see measurable results and successful growth for your business.

Team Engagement, Collaboration & Bottom-Up Strategies to Reach Goals

Engagement is essential to the OKR framework, and you want to engage your teams and encourage collaboration. Therefore, you want to make sure that the OKR framework for your business includes policies and platforms that encourage hard work and take a more bottom-up approach to achieve goals and show measurable results. Ways that you can encourage collaboration and a more bottom-up approach to achieving goals include:

• Use modern communications for teamwork collaboration
• Create policies with weekly meetings to discuss objectives and achievements
• Make regular reports and newsletters to share objectives and achievements
• Encourage ambitious creativity with regular team brainstorming sessions to share ideas

These are solutions that you can use to encourage engagement, teamwork, and a more bottom-up approach to obtaining measurable results.

With a good understanding of the OKR framework, you will be able to have attainable objectives and goals set for your business. Contact us to begin planning your OKR framework to begin growing your business.