What You Don’t Have In Common With The Fastest Growing Companies
Yammer was sold to Microsoft for $1.2 Billion.
Salesforce grew to $1 Billion in revenue in just 10 years.
Google…well, because Google.
All of these monoliths and other Inc. 500 and Fortune 100 companies practice management by objectives (MBOs) for goal-focused, company alignment. So what exactly is an MBO and how can it help you?
The common themes for MBOs are:
1) Create 3 to 5 company-wide objectives every quarter.
2) Create 3 to 5 corresponding objectives for each team and individual employee.
3) Implement metrics to measure the key results.
4) Share with the entire company to increase accountability.
5) Regularly monitor progress and communicate along the way.
6) Discuss and learn from failures and successes after the quarterly clock runs out.
One common MBO method is called OKRs (objectives and key results). And as our development team puts the finishing touches on our OKR platform, I have compiled the top 4 January articles about creating well-defined goals, and aligning your company around them.
1. 7 Ways Leaders Can Achieve Big Wins
by Tom Gimbel
2015 is the year of big wins for growing companies, which means the end of mediocre management and poor organizational structure. Here are 2 of the 7 recommendations by Tom Gimbel, Founder and CEO of the Lasalle Network:
– Develop backward timelines. Don’t take on 2015 on a week-to-week basis. Look at the entire year and ask your employees what they need to do to achieve the company’s loftier goals.
– Invest in the term ‘accountability’. Employees should hold others accountable, with the understanding that they will be held accountable for their own projects, goals, and objectives. Transparency encourages a more aggressive attitude towards successful completion.
[CTA “Keep Reading: Learn about how to use OKRs to accelerate business success. Free WebBook (no email necessary).”]
2. 5 Ways to Keep Your Eyes on Your Goals
Leaders and entrepreneurs wear several hats, and focus can easily get scattered. It takes diligence and keeping your eyes steadily on the prize to create those big wins Gimbel mentions. To work towards a successful 2015, you must:
1) Identify priorities and strategize.
2) Envision the end result.
3) Manage your time deliberately.
4) Tackle hard tasks dead on.
5) Check tasks for goal alignment.
3. How to Keep a Leadership Team in Sync
by Rita J. King
As King says, “leadership teams are tasked with their organization’s future.” If your leadership team isn’t in sync, your employees won’t be in sync with the organization’s vision either. So how do you get the leadership team on one accord?
Leaders ensure that each member of the team is heard, understood, and held accountable.
Apparently some leaders still live in the middle ages and focus on their fiefdoms instead of the success of the kingdom. Modern translation: combat silos by understanding organizational priorities and creating a collaborative environment.
4. To Make 2015 A Successful Year, Don’t Be a Mosquito In a Nudist Colony
The mosquito in the nudist colony looks around and says, “I know what to do, I just don’t know where to begin.”
Blakeman discusses the importance of prioritization when setting goals. Evaluate what you are trying to accomplish in the long-term and then consider your quarterly, monthly, and daily goals. Inspired by the teachings of Stephen Covey, Blakeman reminds us to tackle the larger, more important tasks first. When we are consumed with the small stuff, nothing of consequence is accomplished.
Many companies develop brilliant ideas and some even find talented employees to help those ideas materialize. But the marketplace is incredibly competitive and the clock is ticking as competitors surface. Top companies all prioritize their objectives and implement a system to monitor progress and support employees. What systems are you using to keep your team focused and aligned?
Leave your thoughts in the comments section below or email OKRs (at) 15Five (dot) com to learn more.
