Should you be using OKRs in your business?
What is a priority? Here is the dictionary definition: ‘the fact or condition of being regarded or treated as more important than others’ ‘a thing that is regarded as more important than others’
Businesses often have many priorities and work hard at meeting them. They pack the boxes, ship the goods, launch new products, hit their numbers…these priorities are the general day-to-day functions of any business.
However, these are not strategic objectives that will ensure the survival and possible future success of a business.
So, what is the difference? What actions can you take to ensure you are working strategically on your business and not just focusing on getting through the day-to-day work?
To work strategically, you must bring your attention and focus to a primary goal or objective. Working on too many goals or projects at any one time means the focus is diluted and you’ll be swamped.
Concentrating on one objective will inspire you and your team and ensures that it becomes the one focus for your whole business.
This focus is needed in your business now more than ever, and your business survival may depend on it. Beware of being sucked into the operational challenges of your business and not making and taking the time to step back and work out your strategic priority.
Andy Grove, leader, teacher and previous CEO of Intel, believes that when it comes to achieving an objective, ‘it does not matter what you know or what you don’t know, it’s the execution that matters most.’
Andy invented a system for achieving objectives called OKRs – Objectives and Key Results. This system has proved successful for many types of businesses, from massive corporate entities such as Google and Apple, to small pizza delivery and freelance businesses.
Click here to learn exactly what OKRs are and how you can use them to achieve and measure the objectives for your business, whatever its current situation.