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Objectives & Key Results (OKRs) framework for goal setting
- Objectives – This is what you hope to accomplish. Objectives usually take the form of broad goals that are not measurable (that’s what the Key Results section is for).
- Key Results – Based on objectives, the key results are almost always defined with a specific number.
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Set goals that are:
- Specific: It will be easier to see what you need to accomplish.
- Measurable: How will you know when you’ve achieved your goal?
- Attainable: Or realistic. Is it possible to achieve the goal you’ve set for yourself?
- Relevant: For businesses, a relevant goal means that it has the potential to impact your business objectives, vision, or values.
- Time-bound: Give your goal a deadline.
- Clarity: clear goals help with understanding the task at hand.
- Challenge: the goal should be challenging enough to prove motivating, but not impossible to achieve.
- Commitment: involve your team in the goal-setting process.
- Feedback: measure your progress and seek advice.
- Task complexity: be careful in adding too much complexity to your goals as it can impact morale, productivity, and motivation.
- Think Big – Define your ultimate goal
- Act Small – Identify the milestones that will help you achieve that goal
- Move Quick – Come up with a timeline for achieving each milestone
BHAGs focus on “audacious 10-to-30-year goals” that propel you toward your brand’s vision.
Examples from real-world companies:
- SpaceX: Enable human exploration and settlement of Mars
- Microsoft: A computer on every desk and in every home
- Blackpool FC: Reach English Premier League.
- Form Hypothesis
- Select KPI (Key Performance Indicator)
- Set Goal
- Execute
- Track Progress (adjust execution as necessary)
- Socialize/Iterate (let everyone know how it worked)
One of the unique elements of growth hacker goal-setting is the involvement from the whole team/audience via sharing your progress.
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Is the act of selecting a target or objective you wish to achieve.
Goal setting is not only about choosing the rewards you want to enjoy, but also the costs you are willing to pay to achieve your goals.
- To maximize the effectiveness of a goal, structure it with a positive approach. Because a negative approach like "stop me from gaining any more weight" adds anxiety and lowers persistence.
- Discouraging fear-based environments encourage people to try again. Reframe errors as opportunities to learn (error management).
- A positive approach provides clear guidelines and expectations. And so, they trigger positive emotions crucial to stay motivated.
It means believing in your ability to perform a task and achieve goals. There are 3 ways to build self-efficacy:
- Ensure early success. When first starting out, choose activities you're certain you can do successfully.
- Watch others succeed in the activity you want to try. This is particularly effective if the person you're observing is similar to you (friends, neighbors, co-workers).
- Find a supportive voice. Personal trainers and coaches are skilled in giving appropriate encouragement, as are good friends (usually).