How to navigate Capital Inflation or Recession using OKRs
Fitbots OKRs
OKRs Software | OKRs Certifications | OKR Coaches | For Startups, SMEs, and Enterprises. Welcome to the Future of work.
When we blame #recessions on outside forces and point fingers at wars or crypto collapse or politicians or oil/gas industries in tough times, we take the easy route. The truth is that it is up to us to move our #business forward, no matter what challenges we face. The best companies battled the most challenging times with a singular focus.?
You may have gone through many economic cycles to date, and have come out on top — most of the time. But if you’re here, it's because you're concerned that you aren't adequately prepared for the next downturn.
When it comes to managing growth, a few things are as important as setting up the mechanisms that alert you to trouble early on — and give you the power to do something about it.
Step 1: Build Balanced Strategic OKRs
The best strategic plan balances the conservation of existing income bases with a clear direction to new growth. This is often termed a “sustainable, value-driven and market-leading growth strategy” in brochures and annual reports. That sounds splendid, but how do you do it?
You aren’t alone if you find yourself constantly trying to juggle marketing, cash flow management, and expansion. To make the most of your inbound marketing efforts, customer retention is paramount. Without this key element in place, you’re doomed to fail before you even get started. Read on to learn how you can increase your customer retention rate with these strategic tips for managing your #smallbusiness.
3 Practical Tips For Your Small Business
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Step 2: Get the Magic Formula of OKRs Right
85% - COMMIT, 15% - ASPIRATIONAL
Just setting big OKRs and writing them down isn't going to magically make them happen! It's more about achieving a series of achievable team OKRs.?
Is it true that the secret to success is discipline? It's a question most would ask but only a few would know the answer. Well, having some meaningful OKRs for yourself, your team, or your organization isn't enough. You also have to be extremely disciplined and plan your actions around these goals.
A great way to get this right is - 85% of all OKRs should be?COMMIT, implying that they must be met at all costs.
Step 3: Collaborate, Co-operate and Be Agile. More on our blog here.
We all want to be successful, but, how can we achieve it? What should we do to reach our OKRs? Simply put, it requires hard work and discipline. It requires doing things that you don't want to do. It requires pushing yourself further than you think is possible. That sounds kind of awful, doesn't it?
At Fitbots OKRs , we help organizations unleash their superpower by helping teams track OKRs, predict outcomes, and course-correct with some of these tips. For example, shared OKRs and Focus OKRs are built-in making it easy to implement and scale with OKRs.
Written by Kashi KS .