As the size of a team grows, communication becomes increasingly important. In order to be successful in your job, you have to collaborate with more people – both within your department but also outside of your department and even outside of your company.
Thankfully, there is a helpful framework for setting expectations and tracking progress. Objective and key results are used to measure performance against monthly, quarterly, or annual goals. At its core, business OKRs are designed to organize a business team around a single objective (the "O" in OKR).
Let's say you manage an ecommerce store that sells clothes. When you go to create an OKR, you want to start with a single objective that would have a material impact on your business. You do not want to set a "nice to have" as an objective.
From there, we recommend setting 2-5 quantitative results for each objective. It is important that results are measurable so you can clearly identify if the outcome was met or not.
Sample Ecommerce OKR
In the example above, each of the Key Results (KRs) are measurable. At the end of the year, you can look at the data to see if you sold 10,000 items or increased average order size to $40. This is the power of OKRs – they remove ambiguity around business goals!
Here are a list of example business OKRs, broken out by department. To discuss your specific needs, please contact the Alluxo team!
Sales OKR Examples
Marketing OKR Examples
Customer Support OKR Examples
Finance & Accounting OKR Examples
Management OKR Examples
As a business, it is important to keep your core metrics front and center. An OKR dashboard can be a great way to organize your department or company around the same set of metrics.
When creating an objective & key result (OKR), it's important to pick a target that will drive real business change. Your goals should be achievable, but difficult.
For example, if you set a goal to implement a new process within one week, you force yourself to dedicate time to this intiative. The same is true if you set the goal of writing tailored emails to 25 investors in your target market. Even if you fall short of these goals, you will be much further along than if you casually wrote a note down.
OKRs work because they short, clear, and measurable. There is also a social pressure: By publicly saying your goal, you are accountable for that result!
Track metrics like the top performing ecommerce stores.