On this episode of Marketing For eCommerce, I share with you the best system for achieving your goals - the OKR (Objectives and Key Results) tool. Success in entrepreneurship essentially comes down to 2 things: knowing what you need to be doing right now and staying focused on that one task.
The OKR tool allows you to focus your time and energy appropriately. It works for me and my team, and I want YOU to benefit from this tool as well. Catch all the details on this podcast episode, and also check out this insider video resource. I promise it’ll help you set better goals and accomplish them faster.What is the OKR tool and why is it successful?
Before you can start talking about the marketing and tech stack tools your business needs, you need to know WHERE your business is headed and WHY you’re operating the way you are.
Used by Google and small startups alike, the OKR tool allows you to reevaluate your time investments and ensure your team is staying on track. It’s a system that combines qualitative objectives with quantitative key results. The OKR tool can give you dramatic results when used correctly, and I outline the four main components to the tool on this episode - be sure to listen!Quadrant #1 - Overall objectives and key results
Think of the OKR tool as a grid system with 4 quadrants. In the top right quadrant, you will list your overall objectives and key results. Remember, your objective is qualitative and is an overall goal or vision your company wishes to achieve. Your key results are how you will quantitatively and objectively measure progress on that objective. You’ll typically rewrite your entire OKR system every quarter, so these quadrants will be a guiding force for only 12 weeks at a time.Quadrant #2 - Top priorities that move you towards your OKRs
In the top left quadrant, you’ll write down the top priorities that will help you move towards your main objective every week. These tasks can be written in a checklist format to encourage progress and stimulate visually motivated team members. Consider priorities that seem slightly out of reach but are attainable with the right amount of hard work and focus.Quadrant #3 - Big projects on the horizon
Quadrant 3 in the bottom left is where your upcoming big projects are outlined. It’s easy to become hyper-focused on one goal while neglecting your previously scheduled milestones, marketing campaigns, product launches, etc. This quadrant will help you prepare accordingly for projects and prevent last-minute chaos. Methods for documenting projects in quadrant 3 are discussed on this episode, so be sure to listen.Quadrant #4 - Awareness of potential sacrifices
The final quadrant in the bottom right is where you place potential sacrifices your team may make in pursuit of OKR success. For example, you could place a reminder in this quadrant telling team members to spend time with family in emergency situations or take care of themselves physically. If too many sacrifices are made, the morale of the team will be compromised and goals fall by the wayside.
Always remember to care for and care about your team members. They should always come before company goals and progress reports because they are the backbone of your organization. I explain the full OKR tool system on this episode and on my insider video, don’t miss these great insights!Outline of This Episode
Subscribe to Marketing For eCommerce on iTunes