When you’re starting up a new business, you can’t help but feel the thrill of pursuing a dream and the freedom to create something from scratch, which can be incredibly motivating. You’re basically taking that leap of faith, fueled by passion and a desire to make a difference, even when the path ahead might seem daunting. But here’s some good news: one way to keep the ride smoother is by using OKRs, which stand for Objectives and Key Results. OKRs help align your team and keep everyone focused on what matters most.
…What Are OKRs?
In simple terms, OKRs help you set goals that everyone can understand and work towards. An objective is what you want to achieve. It should be clear, inspiring, and time-bound, like “Increase customer satisfaction.” The key results are the steps you need to achieve that objective, like “Reduce customer response time to under 2 hours” or “Achieve a customer satisfaction score of 90%.”
Companies like Google, LinkedIn, and Spotify all use OKRs. According to John Doerr, who introduced OKRs to Google, they played a huge role in Google’s success. And if it’s good enough for Google, it should be good enough for any startup.
Why OKRs Matter
Second, OKRs boost accountability. When everyone knows the key results they are aiming for, it’s easier to track progress. You can see who’s slacking and who’s doing really great.
Setting Good OKRs
Your objectives should be bold but achievable. You want to aim high enough to inspire excitement and push the team to stretch their capabilities, but not so high that it feels impossible. A well-set objective should light a fire under your team and make them feel like they’re part of something significant and worthwhile.
When you use OKRs you can reap the benefits of clarity and accountability. Start by setting bold but achievable objectives, make your key results specific and measurable, and review them regularly – and don’t forget to celebrate your wins, no matter how small.