{"id":2365,"date":"2022-09-24T05:26:18","date_gmt":"2022-09-24T05:26:18","guid":{"rendered":"https:\/\/staging.hubino.com\/resources\/?p=2365"},"modified":"2022-09-24T05:29:30","modified_gmt":"2022-09-24T05:29:30","slug":"getting-started-with-okrs-for-small-businesses","status":"publish","type":"post","link":"https:\/\/staging.hubino.com\/resources\/getting-started-with-okrs-for-small-businesses\/","title":{"rendered":"Getting started with OKRs for Small Businesses"},"content":{"rendered":"\t\t
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Can\nOKRs be useful for my small business?<\/span>
<\/p>\n\n

The short answer is\nyes\u2014implementing OKRs can lead to increased results at your startup or small\nbusiness. Here are several reasons why:<\/o:p><\/span><\/p>\n\n

They inspire <\/span><\/strong><\/o:p><\/span><\/p>\n\n

OKRs promote aspiration\nand unite team members towards a common goal, because the \u201cObjective\u201d element\n(of each OKR) presents a high-level and exciting vision of where a team is\nheaded. Ideally, top-level OKRs should align with your company\u2019s mission and\nreinforce core values.<\/o:p><\/span><\/p>\n\n

They establish strong\ncommunication & clarity <\/span><\/strong><\/o:p><\/span><\/p>\n\n

An important factor in\nany successful OKR strategy is aligning Objectives throughout your\norganization. A well-defined strategy keeps different teams on the same page,\nand opens up channels for both bottom-up and top-down communication. While this\nmay seem simple in an environment where you have just ten, twenty, or fifty\nteam members, maintaining open and rapid communication is often one of the\nmajor challenges small businesses face as they grow.<\/o:p><\/span><\/p>\n\n

They accelerate\ngrowth <\/span><\/strong><\/o:p><\/span><\/p>\n\n

Well thought-out OKRs\ncan inspire a team to achieve more than they previously thought possible. From\nstreamlining your existing processes to taking your growth to the next level,\nOKRs are a powerful catalyst for results. 
\n
\nGoogle has popularized the idea of setting \u201cmoonshot\u201d or \u201cstretch\u201d goals to\naccelerate growth. The idea of setting difficult goals isn\u2019t simply to push\nyour team members beyond their limits\u2014in fact, it\u2019s generally agreed that 70%\nis an ideal level of attainment<\/span> for a moonshot OKR. Setting stretch goals can make sense,\nespecially in smaller organizations, because goals are meant to be\ninspirational and aspirational. 
\n
\nIt can be more powerful to consistently set ambitious OKRs and achieve a 70%\nsuccess rate than to set mediocre OKRs and attain perfection all the time\n(although less ambitious \u201croofshot\u201d goals also have their place in an OKR\nstrategy geared towards growth).<\/o:p><\/span><\/span><\/p>\n\n

They can head off future\nproblems <\/span><\/strong><\/o:p><\/span><\/p>\n\n

As companies expand and\nhire more team members, decision-making and chains of command quickly become\nmore complex. A great way to avoid the \u201cgrowing pains\u201d experienced by so many\nstartups is to put systems in place as early as possible, so that you don\u2019t\nfind yourself cobbling together solutions on the fly in the middle of a\nrapid-growth phase.<\/o:p><\/span><\/p>\n\n

Making OKRs a success <\/span><\/strong><\/o:p><\/span><\/h4>\n\n

It\u2019s important to note\nthat OKRs aren\u2019t a magic bullet for any organization, regardless of size. For\nOKRs to really make a difference in your company, you\u2019ll have to take an\norganized approach<\/span> \u2014this includes making a plan, following it through, and\nensuring that everyone is onboard.<\/o:p><\/span><\/span><\/p>\n\n

Make a plan and communicate\nit <\/span><\/strong><\/o:p><\/span><\/p>\n\n

If you\u2019re thinking of\nusing OKRs, the first thing to do is to make sure all your team members know\nwhat OKRs are, why they are important, and what will be expected of them.\nEmphasize the ways that OKRs will benefit the organization and each\nindividual. 
\n
\nIdeally, you\u2019ll want to create a written game plan to share with your staff. It\nshould cover the following points:<\/o:p><\/span><\/p>\n\n

    \n
  • A\n timeline for creating OKRs<\/o:p><\/span><\/li>\n
      \n
    • Many\n organizations choose to set OKRs at the beginning of the financial\n quarter, though some work on half-yearly cadences<\/o:p><\/span><\/li>\n <\/ul>\n
    • Your\n organization\u2019s \u201cOKR flow-chart\u201d<\/o:p><\/span><\/li>\n
        \n
      • This\n involves aligning OKRs both vertically and horizontally<\/o:p><\/span><\/li>\n <\/ul>\n
      • A guide\n to writing OKRs effectively<\/o:p><\/span><\/li>\n
          \n
        • For best\n results: Objectives should be ambitious and qualitative, while Key\n Results must be measurable<\/o:p><\/span><\/li>\n <\/ul>\n<\/ul>\n\n

          Take OKRs seriously <\/span><\/strong><\/o:p><\/span><\/p>\n\n

          After launching your OKR\nstrategy, you\u2019ll need to continue to invest time and devote attention to the\nprocess. 
          \n
          \nThis is easier said than done. Here are some tips to help you stay on\ntrack: 
          \n
          \n<\/span>1) <\/span><\/strong>Have a specific person\ntake ownership of the OKRs program. This OKR Champion can be the founder or a\ndesignated team member. If you choose to assign the OKR Champion duties to a team\nmember, it\u2019s important that the organization recognizes their authority in\nregards to the program. 
          \n
          \n<\/span>2) <\/span><\/strong>Track the progress of\nyour OKRs regularly. A common way of doing this is using the confidence\nrating system<\/span> , which is flexible and great for small teams.<\/o:p><\/span><\/span><\/p>\n\n

          Don\u2019t tie OKRs to\nperformance reviews <\/span><\/strong><\/o:p><\/span><\/p>\n\n

          A final tip for making a\nsuccess of OKRs at your startup or small business is not to use them as\nperformance reviews, or as part of the review process. Since you may not have a\nformal review process yet, it can be tempting to link achievement of an OKR\ndirectly with performance and compensation decisions. However, there are some\ngood reasons not to do so. 
          \n
          \nAs previously described, \u201cmoonshot\u201d goals can be extremely effective as OKRs,\nbecause they motivate your team to think outside the box. Remember that full\ncompletion of a moonshot goal can be as low as 60%-70%. By rewarding 100%\ncompletion of all OKRs or punishing non-completion, you may inadvertently be\ncausing your team to avoid true moonshot goals. Instead, they\u2019re likely to set\nless ambitious goals in an attempt to gain reward or avoid failure. This is\ncalled \u201csandbagging\u201d, and it defeats the point of using OKRs. <\/o:p><\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

          Can OKRs be useful for my small business? The short answer is yes\u2014implementing OKRs…<\/p>\n","protected":false},"author":1,"featured_media":2366,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[37,29],"tags":[34,131,132],"yoast_head":"\nGetting started with OKRs for small businesses<\/title>\n<meta name=\"description\" content=\"Helping to get started with OKRs for small businesses\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/staging.hubino.com\/resources\/getting-started-with-okrs-for-small-businesses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Getting started with OKRs for small businesses\" \/>\n<meta property=\"og:description\" content=\"Helping to get started with OKRs for small businesses\" \/>\n<meta property=\"og:url\" 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