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Tips on How to Set Your Objectives and Key Results to Work for Your Small Business Venture

OKRs are largely being adopted by many organizations as part of their overall strategy. The OKR process begins with setting up the business objectives. This can be categorized into annual, quarterly or monthly goals for your business.

There needs to be a clear understanding by the entrepreneur concerning the way of achieving the objectives set for the business. You should be backed with a team to help you in ensuring that you set the goals as your major priority.

You should also converse with your workers to ensure they share their personal objectives which will help in contributing to your overall goals. The objectives of the business can be a hard task to state by your workers. With OKRs, your employers can be in line with achieving your objectives for your business.

Here are tips to help you with defining your objectives in relation to the major key results.

1. Keep it Simple

There needs to be a focus on what you hope to achieve in a certain time frame. The objective should also be prioritized based on the needs of the business. The nature and complexity of objectives should all be factored as part of the objectives of the business venture. You should also look into the resources and the available time while factoring the unexpected changes which can occur in the line of business.

2. Beign Specific
When setting your objectives, it is wise to consult with others on means of accomplishing your end results. You should have an action plan in play as a means of specifying the business objectives clearly. The performance of the business should be evaluated after you have clearly set out each specific key result.

When you specify much clearly the objectives, the more you can manage your expectations. It is recommended to set clear objectives to have a clue of what exactly needs to be accomplished.

Having measurable OKRs
The OKRs should have a precise unit of measurement. This applies to either a certain stock of goods for a month can create a certain amount of revenues. Through this means you can measures your OKRs without an OKR software to ensure you accomplish your goals. However, it not that simple to find a unit of measurement for goals which are not quantifiable.

Not Concerning Over Stretch Goals

It is wise to find wise to find goals which are challenging but also attainable in a certain manner. Stretch goals are another means used by entrepreneurs to act as a motivating factor for workers. The problem with stretch goals is that they need to be carefully planned out before execution. The stretch goals can create a feeling of frustration from the workers when they fail to accomplish the set goals.

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