BLOG 254 – 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.

These are not strategic objectives that 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 getting the day-to-day work done?

These actions happen when you 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.

One objective will inspire you and your team and means 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 within your business and not making the time to step back and work out your strategic priority.

Andy Grove, leader, teacher and previous CEO of Intel, believes when it comes to achieving an objective ‘it does not matter what you know and 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 like Google and Apple to small pizza delivery and freelance businesses.