OKR is an acronym that stands for Objectives and Key Results. The objectives are the goals that you are working toward (you should have 3-5), and the key results (at least three for every objective) measure how close you are to obtaining your objective, it usually represents a timeline to show how close you are to achieving your goal.
It can be difficult for teams to come together to work toward the same goal. Not because they don’t want to achieve the same goal, but because they don’t have a clear road map to get to that goal. Or maybe they don’t know what the company goal is. Without a defined goal for your team, you may feel like you're putting a puzzle together in the dark. Sure your hands are moving and working toward a picture, and you can feel the pieces, but what are you working toward if you can’t see the whole picture? You need to develop an action-based plan to ensure that you are advancing in your business, and growing as a person.
OKR’s help to provide you with a roadmap toward your end goal, by setting you up step by step and also holding you accountable for those steps taken. This strategy allows your team to become aligned and focused, working toward the same goal.
You can set many different time frames for OKR’s, like monthly OKR’s or yearly OKR’s. But mostly, OKR’s are set quarterly to monitor progress.
Objective: “Increase customer base.”
Key Result: “Develop an email marketing strategy by January 31st.”
“Increase social media posts on all platforms.”
“Research and begin paid advertising.”
OKR’s support realistic goals and keep your team motivated and productive. And they're simple to use!