Ambitious Goal-Setting: How to Achieve Impossible Goals Skillfully

Ambitious Goal-Setting: How to Achieve Impossible Goals Skillfully

Increasing the company's turnover multiple times in a foreseeable period of time, building a strong team, and leading your business to success amidst severe turbulence — everything seemingly impossible becomes achievable if you set goals correctly. 

How to make goal-setting structural and

what to rely on in building the path to what you want so that the result doesn't take long to come?

Today, planning and organizing flexible work processes are becoming as important for business success as a detailed analysis is for mobile betting

Objectives and Key Results is a system of setting

and achieving goals that is becoming increasingly popular among companies and teams looking to succeed. 

Let's discuss what OKR is, how this system works, and the benefits it can bring to businesses and teams.

What Is OKR?

OKR is a tool that helps teams and organizations identify their goals as well as the key outcomes that must be achieved to reach those goals. 

The benefits of using this system are:

• Increased business agility through shorter planning cycles.
• Improved cross-functional interactions.
• Facilitation of the goal setting process.
• Unified understanding of company goals by employees.
• Increased employee engagement.
• Increased autonomy, responsibility, and the ability to self- organize.
• Ambitiousness of team goals.

In essence, OKR is the answer to 3 questions:

• What do we want to achieve? — Objectives 
• How will we realize we've achieved the goal? — Key results
• What do we need to do to accomplish this? — Initiatives

Criteria for a Good Goal

So what are the criteria for a good goal, according to the methodology?

• Must be inspiring and ambitious but achievable.
• Must be memorable, must not be boring.
• Linked to the company's strategy.
• Formulated simply and clearly.
• Describes qualitative change.
• Is an outcome, not a process, metric, or objective.
• The wording begins with a verb.
• The wording is brief enough that you don't need to take a breath while reading or speaking.

Here's a template for goal-setting:

• What to do? (create, implement, launch...).
• What will it look like afterwards? (better, awesome, powerful...).
• Where to apply the action? (product, service, segment, etc.)

How to Realize That the Goals Have Been Achieved

Once you have formulated the objectives, determine how you will realize that the objective has been achieved. This is where key results come in handy.

For example, you set a goal to be the best in the market in terms of customer satisfaction. How will you know if you are the best?

In this case, the key results could be as follows:

• KR1: increase NPS to 65.
• KR2: achieve an application score of 4.7/5.0 or higher.
• KR3: reduce complaints per month from 12 to 3.

Defining Initiatives

Once the key deliverables have been identified, the implementation team can define the initiatives through which they plan to achieve those goals. 

Taking KR1 apart, NPS can be increased in a variety of ways and by different teams. You can offer discounts and promotions, reduce the response time in the support chat, and release a new, more convenient version of the app.

There should be several key outcomes, and they should balance each other. If the goal is only to

reduce the number of complaints, it may be tempting to cheat, for example, by closing the possibility for users to write complaints at all. Will the number of complaints go down? Definitely yes. But will it help you become the best in the market at customer interaction? Not likely

What an OKR Cycle Looks Like

The cycle starts with OKR planning for the next time period. 

Planning is followed by progress meetings (OKR Check-In), where the team and stakeholders meet to track progress, review initiatives, and identify obstacles to implementation.

Finally, the final phase involves an OKR Review to summarize the current cycle. It includes an

assessment of the success of the OKR and a retrospective on how to improve the OKR process in the future.

Key Principles

When setting OKRs, focus on where you want to get to, on how OKRs are results-oriented, and on

how they define success criteria for the company, team, and employees, rather than on actions. In

other words, if all the tasks are done but nothing has improved, it cannot be called a success.

OKRs can be set at different levels — they can be company-wide, team-wide, and personal, for each employee. For example, strategic for the company, tactical for teams, and operational for an individual specialist.

A company can adjust the frequency of OKRs to its own needs. For example, a company may use a semi-annual strategic cycle, and teams within it set OKRs every 6 weeks.

If you don't know where to start, start with a common frequency for everyone. For example, quarterly OKRs.

What Is the Difference Between OKRs and KPIs?

Now, you probably have a question: what is the difference between OKRs and KPIs? OKR is perfect for those areas where we want to change something. KPIs are metrics for the "health" of a company.

The difference between these concepts will be easiest to explain with an example. Let's say you have a goal to lose weight. In other words, to change something about yourself — that would be OKR. 

When your weight has come back to normal and you need to maintain it within certain limits — that would be a KPI. A KPI is something that shows you that everything is OK and the organization is running consistently. Many people review KPIs regularly and continually raise them.

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