Setting short-term business goals for a company or a business is always hard. They need to be a visionary roadmap that shows where you want to go. Setting these goals for a company is made harder by the fact that they must be very clear, practical, and easily understandable for employees.
How to set short-term business goals with OKRs?
For setting business goals, you can use the popular Objectives and Key Results (OKR) method. This is an increasingly flexible methodology. It will increase your own and your team’s productivity and focus. In simple terms, OKR is a process of setting company, team, and personal goals. And then connecting each goal with 3-4 measurable results.
Goals should be qualitative and describe the desired outcome. For example: understand customer needs. There is no need to have numeric metrics for goals. For that, you should use Key Results. They measure how far from reaching your objective you are. And add metrics to goals.
Goals with examples.
Objective: Research, analyze, and understand what our users and non-users really think
- Sales team to conduct 50 phone interviews with key accounts.
- Support team to conduct 50 phone interviews with churned accounts.
- Product management to interview 25 external team leaders (non-users).
- Design team conduct 30 web-based user testing sessions on new and old users.
Objective: Finish raising new capital for our growth needs.
- E-mail and phone outreach to 100 VCs and seed funds.
- Get at least 30-second contact meetings or conference calls.
- Solicit at least 3 term sheets of our minimum required terms.
- Close an investment round with the minimum of $10 million pre-money.
Start setting short-term goals now.
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