The Power of OKRs: A Proven Goal-Setting Framework for Achieving Your Biggest Goals

We all set goals in our lives, both personal and professional. But not all goal-setting frameworks are created equal. One of the most effective I've come across - and you may have heard of - is OKRs - Objectives and Key Results.

In this post, I'll summarise what OKRs are, share how I use them and offer tips on how to make them work for you:

What are OKRs?

• OKRs stand for Objectives and Key Results. Objectives are the qualitative goals you want to achieve. Key Results are the quantitative measures that track your progress.
• For example, an objective could be "Improve website performance." The key results would be specific metrics like "Decrease average page load time from 6 to 3 seconds" and "Increase mobile conversation rate from 2% to 5%."

The Benefits of OKRs

• Creates alignment across teams by cascading top-level goals throughout the organisation. Everyone works towards the same outcomes.
• Focuses effort on measurable results, not just lofty ideas. OKRs keep you grounded in meeting concrete targets.
• Enables agility through regular check-ins. OKRs are often set quarterly, allowing you to adjust goals based on changing conditions.

OKRs in Action

One company that famously used OKRs to drive growth is Google. Some of their early OKRs included:

Objective: Improve search relevance

Key results:

• Decrease error rate 10% per quarter
• Increase relevance satisfaction rating to 4.3/5.0

This level of clarity and measurement enabled Google's meteoric rise. Teams knew precisely which metrics to optimise and could creatively experiment while still aligned to the north star.

How I Use OKRs

When I started my practice as a freelance business psychologist, I felt overwhelmed trying to build my client base from scratch.

I made massive to-do lists of networking tasks, content creation, social media - you name it. The laundry list of activities was daunting and I needed more focus. Then I discovered OKRs, and they gave my fledgling business much-needed direction.

I set an objective to "Establish a robust consulting practice within 6 months." My key results included actionable steps like "Sign three new corporate clients" and "Complete a thought leadership ebook."

With these focused goals, I pushed through the uncertainty of starting my practice. Driven by my OKRs, I secured several retained contracts and finished writing within two months. Now I use OKRs to set focused objectives in my personal and professional life to drive results. I love the simplicity and power of this framework.

Tips for Writing Effective OKRs

• Start with the end in mind. Identify the key results first, then determine the objectives to drive them.
• Get specific. Vague goals lead to vague outcomes. Quantify as much as possible.
• Don't bite off more than you can chew. Limit to 3-5 key results per objective maximum.
• Tell a story. Key results should work together logically to achieve the objective.

OKRs take some practice, but they are one of the most straightforward yet powerful tools I've found for executing strategy and fulfilling your most significant personal and professional goals.

Give them a try on your next goal and see the clarity they provide.