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OKR template to increase wealth by improving income and managing spending

public-lib · Published 5 months ago

This OKR focuses on the objective of "Increasing wealth by improving income and managing spending". The first outcome takes a savings approach, allocating 10% of each paycheck to investments, promising additional income generation. The steps involved include determining monthly income and transferring a fraction to selected investments.

The second outcome is about raising the primary income by 15%, which can be achieved through performance enhancements at work or business growth. This includes seeking a pay hike or promotion and implementing strategies for boosting business sales. There's also a focus on improving job performance through continuous learning.

The third outcome entails reducing unnecessary expenses by identifying and eliminating 20% of non-essential costs. This involves careful review and categorisation of all expenses to identify those that are non-essential, devising a strategy to eliminate these costs, and monitoring the progress of cost-reduction.

Overall, this OKR addresses both sides of the wealth increase argument: increasing income and controlling spending. It demands detailed financial tracking, strategic investment, skills enhancement, and cost management.
  • ObjectiveObjectiveIncrease wealth by improving income and managing spending
  • Key ResultKRDedicate 10% of each paycheck to investments to generate additional income
  • TaskDetermine monthly income
  • TaskTransfer this amount to chosen investments
  • TaskCalculate 10% of the monthly income
  • Key ResultKRRaise primary income by 15% through performance at work or business growth
  • TaskSeek promotion or salary increase at the current job
  • TaskDevelop and implement strategies for business sales growth
  • TaskImprove job performance through continuing education or training
  • Key ResultKRReduce unnecessary expenses by identifying and eliminating 20% of non-essential costs
  • TaskCreate a strategy to eliminate identified non-essential costs
  • TaskReview and categorize all expenses to identify non-essential costs
  • TaskImplement the cost-reduction strategy and track progress
Use in Tability

How to edit and track OKRs with Tability

You'll probably want to edit the examples in this post, and Tability is the perfect tool for it.

Tability is an AI-powered platform that helps teams set better goals, monitor execution, and get help to achieve their objectives faster.

With Tability you can:

  • Use AI to draft a complete set of OKRs in seconds
  • Connect your OKRs and team goals to your project
  • Automate reporting with integrations and built-in dashboard

Instead of having to copy the content of the OKR examples in a doc or spreadsheet, you can use Tability’s magic importer to start using any of the examples in this page.

The import process can be done in seconds, allowing you to edit OKRs directly in a platform that knows how to manage and track goals.

Step 1. Sign up for a free Tability account

Go tohttps://tability.app/signup and create your account (it's free!)

Step 2. Create a plan

Follow the steps after your onboarding to create your first plan, you should get to a page that looks like the picture below.

Tability Import Options

Step 3. Use the magic importer

Click on Use magic import to open up the Magic Import modal.

Now, go back to the OKR examples, and click on Copy on the example that you’d like to use.

Copy from the template

Paste the content in the text import section. Don’t worry about the formatting, Tability’s AI will be able to parse it!

Importing from text

Now, just click on Import from text and let the magic happen.

Tability editor with imported content

Once your example is in the plan editor, you will be able to:

  • Edit the objectives, key results, and tasks
  • Click on the target 0 → 100% to set better target
  • Use the tips and the AI to refine your goals

Step 4. Publish your plan

Once you’re done editing, you can publish your plan to switch to the goal-tracking mode.

Publish import

From there you will have access to all the features that will help you and your team save hours with OKR reporting.

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