“Only those who know their goal will find the way.” – How do you set the right goals in a company to achieve sustainable growth and motivate employees? What are OKRs and how do you do performance reviews? My tips & tricks to set goals for your company in day 14 of the 90-day challenge.
Why Measuring Goals is So Important
In every company, the principle is: what gets measured, gets improved. This is a fundamental principle that you should always keep in mind.
One thing we have noticed in the last 14 days is that we are already seeing significant improvements in the areas that are important to us. We have more customers and more funds in our accounts. This is just the beginning, but it shows that we are on the right track.
Top-Down vs. Bottom-Up Goal Setting
A common mistake is to set all goals top-down. As a boss, simply setting all the goals and expecting the team to follow is dangerous because employees often don’t really believe in them. On the other hand, it’s also not ideal if only the team sets the goals, as they may take a different approach. The key is to find the right balance and start with a strong “why.”
Objectives, Key Results, and Initiatives
The idea behind OKRs is to start with the “why” and then move on to the key results – the absolutely essential numbers that need to be measured. These numbers should be specific, measurable, attractive, aggressive, and realistic, and have a clear timeframe. For our 90-day period, we have two objectives: restoring our branding and reputation, and ensuring that we are profitable as a company.
The Importance of Performance Reviews
Performance reviews are about assessing whether the set numbers have been achieved. It is important to consider the circumstances. There may be external influences that make it impossible for an employee to achieve certain goals. Therefore, it is sensible to evaluate not only the final results but also the implementation of the measures.
Initiatives and Teamwork
Initiatives are the concrete actions needed to achieve the key results. These need to be discussed and implemented with the team members. It is important to regularly track and review whether you are on the right path.
Closing Thoughts
Setting and achieving company goals is a continuous process that requires finesse and adaptability. How do you set goals in your company? Let me know, and see you tomorrow for Day 15!
Take part in our 90-Day-Challenge
If you want to take part in our 90-Day-Challenge and support us, now is the time to do so. If you’re an old customer who withdrew his funds, consider using our platform again. If you’re new – simply sign up here: https://bake.io
Your Julian
Entrepreneur / Investor / Athlete / Father
