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Last Updated on December 3, 2020

How to Set OKRs to Keep Your Goals on Track

How to Set OKRs to Keep Your Goals on Track

Goals typically fail for several reasons, the main one being they lack purpose or a tangible reason why they have been set in the first place. If you don’t honestly believe in a goal or have an emotional attachment to why it’s been created, you’ll either lose interest or only do the minimum to deliver it.

There are several other reasons goals can fail, including:

  • The goal is too ambitious and so far from being achievable that there is no point working on it as you feel you’ll never achieve it.
  • The goal completion target is so far off into the future that you just put it off as there is no urgency.
  • The goal isn’t specific enough and so vague and hard to plan for as they may sound great, but you’re not sure how you’ll achieve them.

OKRs can provide the structure and direction you need to achieve your goals, whether you’re a company or an individual.

They create the purpose and direction you need to achieve and work towards, as well as offer strategies for how you’ll measure your progress, success, and then ultimately the initiatives to get you there.

Where OKRs work better than a single goal approach as they link everything together.

At the highest level, you have your company vision; below the vision there is the annual OKRs (3-5); then below these come the quarterly OKRs.

Each one is serving the next and is being achieved by all the initiatives (the work) being delivered by the teams and individuals day to day, week to week, and month to month.

What Is an OKR?

OKR stand for “Objectives and Key Results” and was initially created by Andy Grove in the 1970s while at Intel. Since then, OKRs have been taken on and used by companies like Google and Netflix[1].

OKRs are a collaborative way to create goals for a company and individuals as they are not only ambitious and inspiring but also achievable.

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OKRs were not only created to set objectives for companies but also to improve collaboration, engagement, and transparency between senior management and its employees. Having shared objectives throughout the company brings the whole workforce together to work towards common goals and then celebrate together when they’ve achieved them.

The objective within an OKR is the outcome you’re looking to achieve, and the key result is how you’re going to measure whether the outcome has been achieved.

Key results are what make OKRs measurable; they tell you if you’ve been successful with the objectives set up front as, without them, the success of an objective can be left open to opinion.

How to Create an OKR

An OKR consists of an Objective, which defines what you’re trying to achieve, and up to five key results. The key results are how you measure if you’ve achieved the objective.

Under the key results, you also have a set of initiatives, which are the activities or the work required to achieve the key results.

You create OKRs to set the overall direction for a company and create the alignment needed, so every employee is working with the same shared purpose.

While we will be discussing OKRs mostly at the company level, keep in mind that individuals can also use them for life planning.

A company typically has a single vision or a mission for the company, and this direction you want to move towards could be set for the next decade or even longer. This is the ultimate purpose that aligns your company’s employees and, in some cases, your customers on why you do what you do.

This vision sets your direction, which then allows the creation of the company OKRs, which are set annually. These 3-5 OKRs are the objectives that will move your company closer to that overall vision and are specific to what outcomes you need to achieve in the next 12 months.

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Each company OKR has clear key results (up to five) that are measurable, so you can track progress and measure success. These company objectives encompass all parts of the business and can overlap over multiple departments.

The departments within the company then set group OKRs, which are set quarterly using the company OCR’s as the direction. Again, like the company OCR’s, they all have key results defined and agreed on so the departments can measure progress.

What Makes a Good Objective?

Objectives tell you where you need to go and should inspire and set the direction.

When defining the objective for your OCR, it has to be clear, well-written and free of doubt about what the outcome of the objective is.

An objective should always be an outcome that you may not initially know how to achieve, but you understand what the outcome is you’re looking to aim for.

It also needs to be balanced in how achievable it is. If the objective is to achieve 100% market share in your industry, that is not only too ambitious, but it’s very likely to be impossible.

You could also make the opposite mistake and make the outcome of the objective too easy (for example, increase our market share by 1%).

If the objective is too easy, too hard, or impossible, you’re wasting your time creating it as it offers no value, and ultimately the team will pay no attention to it and lose faith in the overall approach.

What Makes a Good Key Result?

If the objective sets the direction you want and defines the outcomes you need to achieve, you can think of the key results as the milestones to get you there.

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The key results are how you’ll track progress so you can quantify and measure as you go to make sure you’re on track to achieve your chosen outcome.

If the objectives are well-defined and thought out, the key results are what keeps the team motivated and focused. This is because they’re measurable. Once complete, it can be a tick in the box to show not only progress, but also celebrate the success you’ve achieved.

These small, significant milestones keep the teams and individuals motivated, especially when working with quarterly objectives.

The vital part of creating key results is that they’re measurable. There should be no doubt if you’ve achieved a key result or not. For example, if you have an objective of “Increase revenue this quarter by 5%,” one of your key results could be:

“Sell 100 of our new training courses.”

If you’ve only sold 80 training courses, then you only achieved 80% of that key result.

How to Track OKRs

OKRs must be tracked and reviewed regularly.

The direction of the company, although this is an ongoing activity, is typically reviewed annually, but the company OKRs need to be reviewed quarterly.

A quarterly review would entail looking at the progress of the key results defined at the start of the quarter. These key results tell you if you’re going in the right direction through measurement and progress tracking.

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A quarterly review also gives the teams a chance to review the OKRs when it comes to the value they’ll provide the company, the staff, and its end users.

What you created three months ago may not hold the same value today. Discuss the value of the OKR. Is it still pushing you towards the overall company vision, or do you need to change or potentially create a new one?

To review OKRs at the team level and the initiatives in place to deliver them, you need to meet at least every two weeks or even weekly in some cases.

Meeting regularly follows the same principle as the quarterly and yearly review as you look at how are you progressing. What is working and what isn’t?

The Bottom Line

OKRs are a great way to adapt your goals into a more structured and trackable format that will keep your goals on track.

The OKR approach gives you the ability to separate your long term and shorter momentum goals so you can stay focused and interested throughout the year.

Making them measurable by creating key results allows you to track progress through to completion, which is a great way to stay motivated and push to complete more.

Like standard goal-setting, if you don’t invest the time up front to create them correctly, you’ll either lose interest, or they wont deliver the value you had hoped for.

To be successful when implementing the OKR approach within your company, don’t have too many, make them transparent, make sure your teams are aligned, and check progress regularly.

If you do all of this, you’ll give yourself the best chance to reach your goals.

More Tips on Objectives and Key Results

Featured photo credit: Kaleidico via unsplash.com

Reference

[1] Medium: Objectives & Key Results

More by this author

Ben Willmott

Productivity and Project Management blogger for at work and at home

Why You Can’t Focus and 20 Things You Can Do to Fix It How to Compartmentalize to Live a Stress-Free and Successful Life 5 Steps (And 4 Techniques) for Effective Problem Solving How to Set OKRs to Keep Your Goals on Track 8 Essential Project Management Skills for Productive Work

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Last Updated on April 19, 2021

How to Find Your Passion and Live a More Fulfilling Life

How to Find Your Passion and Live a More Fulfilling Life

If you could do one thing to transform your life, I would highly recommend it be to find something you’re passionate about, and do it for a living. Learning how to find your passion may not be as easy as it sounds, but it’s well worth the effort.

If you dread going to your job, find yourself constantly lacking motivation, or find what you’re doing dull and repetitive, you need to start looking for a new job.

Staying in your current job will not only continue to leave you feeling stuck and make you unhappy, but you are not realizing your full potential in life.

Imagine this instead:

You get up early, jumping out of bed, excited to go to work. You might put in more hours than the average person, but it doesn’t seem difficult to you, because your work hours just zoom right by.

You are often in that state of mind, often referred to as “flow,” where you can lose track of the world and time, losing yourself in the task at hand. Work is not work as many people refer to it, but something that is fun and interesting and exciting. It’s not a “job” but a passion that leads to a fulfilling life.

If you’ve got a job you dislike, or even hate, this will sound like a pipe dream to you. And if you never put in the effort to find what you’re passionate about, such a thing will never be possible.

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However, if you dare to ask “how do I find my passion,” imagine the possibilities, and actually search for what you love, it is not only a possibility, but a probability.

How do you go about learning how to find your passion in life? Here are some suggestions:

1. Is There Something You Already Love Doing?

Do you have a hobby or something you loved doing as a child, but never considered it as a possibility for a job?

Whether it’s reading comic books, collecting something, or creating or building, there is probably a way you could do it for a living. Open a comic book shop, or create a comic book site online.

If there’s already something you love doing, you’re ahead of the game. Now you just need to research the possibilities of making money from it.

2. Find out What You Spend Hours Reading About

For myself, when I get passionate about something, I’ll read about it for hours on end. I’ll buy books and magazines. I’ll spend days on the Internet finding out more.

There may be a few possibilities here for you, and all of them are possible career paths. Don’t close your mind to these topics. Look into them until you feel your heart is content, and this will help you get started as you learn how to find your passion.

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3. Brainstorm

If nothing comes to mind right away as you’re asking how to find my passion, get out a sheet of paper and start writing down ideas[1]. This doesn’t need to be an organized list. It can simply be a paper full of random notes or even doodles. All of this will eventually come in handy later.

Look around your house, on your computer, or on your bookshelf for inspiration, and write down whatever comes to mind. There are no bad ideas at this stage.

4. Ask Around

There are likely people you admire in life, and there are things about them that you would like to replicate in yourself. Go to them if possible, and pick their brain. See how they landed where they currently are and whether they feel they’ve discovered their passion.

The more possibilities you find, the more likely your chances of learning how to find your passion in the long run. This may mean that you spend time talking to friends and family, coworkers, or even acquaintances in your free time.

5. Don’t Quit Your Job Just Yet

If you find your calling, your passion, don’t just turn in your resignation tomorrow. It’s best to stay in your job while you’re researching the possibilities.

If you can do your passion as a side job and build up the income for a few months or a year, that’s even better. It gives you a chance to build up some savings (and if you’re going into business for yourself, you’ll need that cash reserve), while practicing the skills you need.

6. Give It a Try First

It’s best to actually test your new idea before jumping into it as a career as you’re wondering how to find your passion. Do it as a hobby or side job at first, so that you can see if it’s really your true calling.

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You may be passionate about it for a few days, but where the rubber meets the road is whether you’re passionate about it for at least a few months.

If you pass this test, you have probably found it.

7. Do as Much Research as Possible

Know as much about your passion as possible. If this has been a passion for a while, you may have already been doing this. At any rate, do even more research. Read every website possible on the topic, and buy the best books available.

Find other people, either in your area or on the Internet, who do what you want to do for a living, and quiz them about the profession.

How much do they make, and what training and education did they need? What skills are necessary, and how did they get their start? What recommendations do they have?

Often, you’ll find that people are more than willing to give advice.

8. Practice, and Practice, and Practice Some More

If you’re getting close to learning how to find your passion, don’t go into it with amateur skill level. If you want to make money—to be a professional—you need to have professional skills.

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Get very good at your future career, and you will make money at it. Practice for hours on end and learn how to focus; if it’s something you love, the practice should be something you want to do.

9. Never Quit Trying

It’s possible that you won’t be able to find your passion at first. However, if you give up after a few days, you’re sure to fail. Keep trying, for months on end if necessary, and you’ll find it eventually.

Perhaps you thought you found your passion but discovered several months on that it wasn’t for you. Start over again and find a new passion. There may be more than one passion in your lifetime, so explore all the possibilities.

Have you found your passion but haven’t been successful making a living at it? Keep trying, and try again until you succeed. Success doesn’t come easy, so giving up early is a sure way to fail.

If you need a little help, the Make It Happen Handbook can provide you with a solid action plan to help you turn your passion in your career. Check out the handbook and start to live your passion!

The Bottom Line

Don’t forget that all of this will be a lot of work, but it will be the best investment you’ve ever made. Put in the time to learn how to find your passion, and you will find that your days are more fulfilling and produce more happiness and well-being in the long-term.

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Featured photo credit: Dewet Willemse via unsplash.com

Reference

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