OKR is an acronym that stands for Objectives and Key Results. *It is a very effective goal setting and management framework that helps individuals and teams implement strategic execution and accomplish some pretty amazing things.



OKR is a tremendously powerful tool, especially in times of uncertainty, when stern direction (with flexible approaches) are needed. *Andy Grove, born Andras Istvan Grof in Hungary 1936, survived the Holocaust by taking on a false identity and reaching America with little English and no money.



He eventually joined a fledgling company called Intel and transformed it using a method he created known as OKR.



Grove and his method took Intel from a precarious position to putting personal computers in 84% of American households by 2017, increasing revenues from $1.9 billion to $26 billion.



OKR's primary tenet was that execution is more important than mere ideas. *Grove, who fought his way through Communist Hungary to then become Time Magazine's "Man of the Year," was living proof of this - really a "walking OKR."



The simple version of OKR consists of an Objective, which defines a goal to be achieved, and up to 5 Key Results (3 is best), which measure progress towards the Objective.



What is in an Objective?



It is a description of a goal to be achieved in the future. *It sets a clear direction, provides motivation and can be though of like a destination on a map.



The key question to generate an effective objective is "Where do I want to go?"



What is a Key Result?



It is a metric with a starting value and target value that measures progress towards on Objective. *It is like a signpost with a distance that shows how close you are to your Objective.



The key question for this one is "How do I know if I'm getting there?"



Here is an example of a past OKR from one of our greatest minds, Elon Musk:



Objective: *Make humankind interplanetary.



Key Result #1: *Reduce the cost of launching a rocket by 10x.



Key Result #2: *Re-use all rockets at least 5x.



Key Results #3: *Win $10 billion in commercial launch contracts.



Keeping it simple and tight is key here. *Complexity is the enemy of execution.



How would you use this method to boost your sales game's execution?



-FundingStrategist

https://fundingstrat.com

https://fundingstrat.com/okr/