14 customisable OKR examples for Profitability
What are Profitability OKRs?
The Objective and Key Results (OKR) framework is a simple goal-setting methodology that was introduced at Intel by Andy Grove in the 70s. It became popular after John Doerr introduced it to Google in the 90s, and it's now used by teams of all sizes to set and track ambitious goals at scale.
Creating impactful OKRs can be a daunting task, especially for newcomers. Shifting your focus from projects to outcomes is key to successful planning.
We've tailored a list of OKRs examples for Profitability to help you. You can look at any of the templates below to get some inspiration for your own goals.
If you want to learn more about the framework, you can read our OKR guide online.
Building your own Profitability OKRs with AI
While we have some examples available, it's likely that you'll have specific scenarios that aren't covered here. You can use our free AI generator below or our more complete goal-setting system to generate your own OKRs.
Feel free to explore our tools:
- Use our free OKR generator
- Use Tability, a complete platform to set and track OKRs and initiatives, including a GPT-4 powered goal generator
Our customisable Profitability OKRs examples
We've added many examples of Profitability Objectives and Key Results, but we did not stop there. Understanding the difference between OKRs and projects is important, so we also added examples of strategic initiatives that relate to the OKRs.
Hope you'll find this helpful!
1. OKRs to achieve profitability by reducing operational costs by 20% in the current fiscal year
Cut operational costs to achieve profitability
Reduce employee overtime costs by 30%- Implement automation processes to reduce manual labor costs by 20%
- Decrease inventory storage costs by 25%
- Lower utility expenses by 15% through energy-efficient measures
2. OKRs to increase company profitability
- Increase company profitability
- Achieve a 10% reduction in operating costs through efficiency improvements
Identify wasteful practices in the current operational process- Implement new efficiency-enhancing technologies
- Train staff on cost-saving practices and procedures
- Increase net revenue by 15% via new customer acquisition strategies
- Conduct market research to identify potential customer segments
- Offer incentives for referrals to generate new clients
- Develop and implement a targeted digital marketing campaign
- Implement cost-saving measures to decrease overhead expenses by 8%
- Develop strategies to reduce miscellaneous office expenditures
- Review and analyze current overhead expenses in detail
- Optimize energy usage to minimize utility bills
3. OKRs to enhance overall company profitability
- Enhance overall company profitability
- Increase net profit margin by 10% through cost reduction strategies
- Optimize energy usage to reduce utility bills
- Renegotiate supplier contracts for better rates
- Identify and eliminate non-essential operational costs
- Boost total revenue by 15% by diversifying product offerings
- Implement marketing strategies for new products
- Develop and prototype promising product ideas
- Research market trends to identify potential new product areas
- Grow customer retention rate by 8% through improving customer satisfaction
- Implement proactive customer service via phone or email
- Offer special loyalty programs or discounts
- Conduct customer satisfaction surveys regularly
4. OKRs to increase overall business profitability
- Increase overall business profitability
- Enhance product pricing to boost gross profit by 15%
- Analyze competitors' pricing strategies for comparable products
- Implement cost reduction measures to increase profit margins
- Adjust pricing based on product demand and value perception
- Implement process optimization strategies to cut operational costs by 7%
- Identify and analyze areas with high operational costs
- Evaluate the impacts regularly and make adjustments
- Develop and apply process optimization strategies
- Attain a 10% net profit margin by improving cost efficiency
- Identify unnecessary costs and eliminate them
- Implement more cost-effective processes and procedures
- Train employees on cost efficiency practices
5. OKRs to establish profitability foundations
- Establish profitability foundations
- Increase sales revenue by 25%
- Develop and launch new product lines to attract customers
- Enhance customer service to improve client retention rates
- Implement a targeted marketing campaign to boost product awareness
- Reduce operational costs by 10%
- Streamline processes to eliminate waste and improve productivity
- Increase energy efficiency to lower utility bills
- Review all supplier contracts for potential cost-saving opportunities
- Improve net profit margin by 15%
- Implement cost reduction strategies across all operational departments
- Streamline supply chain to reduce unnecessary expenditures
- Increase product prices without impacting customer demand
6. OKRs to boost sustainable growth and profitability of the business
- Boost sustainable growth and profitability of the business
- Reduce operational costs by 10% through efficiency improvements
- Implement energy-saving measures in all company facilities
- Streamline processes to eliminate non-value-adding activities
- Invest in cost-effective, high-efficiency equipment
- Grow customer base by 20% with green initiatives
- Host community events showcasing company's commitment to sustainability
- Develop a marketing campaign focusing on company's environmental efforts
- Implement a customer rewards program for eco-friendly purchasing decisions
- Increase net profit margin by 15%
- Evaluate pricing strategies, increase price where appropriate
- Improve operational efficiency to reduce waste
- Implement cost-cutting measures for overhead expenses
7. OKRs to boost profitability of innovative projects
- Boost profitability of innovative projects
- Achieve 20% increase in revenue from innovative projects
- Execute innovative projects with high profitability potential
- Develop unique, practical ideas for potential projects
- Implement research on trending market and customer needs
- Secure 10 high-value partnerships for collaborative innovation projects
- Research and identify potential high-value partnership opportunities
- Initiate engagement and negotiation processes with potential partners
- Craft detailed and enticing partnership proposals
- Enhance project visibility by 50% through targeted marketing efforts
- Allocate resources for prominent online ad spaces
- Develop compelling marketing content to attract audience
- Identify key demographic for targeted marketing strategies
8. OKRs to boost profitability via disciplined revenue and expense management
- Boost profitability via disciplined revenue and expense management
- Increase quarterly revenue by 10% through strategic sales initiatives
- Develop and implement a comprehensive sales training program
- Optimize pricing strategy for improved profitability
- Identify and target high-revenue potential clients
- Decrease operating costs by 15% via efficiency improvements
- Streamline supply chain to reduce excess waste
- Identify non-essential operations that can be terminated or outsourced
- Implement energy efficient technology in the office
- Achieve a consistent 20% profit margin throughout the upcoming quarter
- Upsell and cross-sell to increase profits
- Analyze previous quarters to identify profitable strategies
- Streamline business operations to reduce expenses
9. OKRs to increase sales and profitability for sellers in the next quarter
- Increase sales and profitability for sellers in the next quarter
- Increase the number of new customers acquired by sellers by 20%
- Enhance customer referral program to incentivize existing customers to refer new buyers
- Develop and implement targeted marketing campaigns to attract new potential customers
- Analyze and optimize online presence to increase visibility and attract new customers
- Improve sales training program to enhance sellers' prospecting and customer acquisition skills
- Achieve a 10% increase in average order value per customer
- Analyze customer preferences and identify potential products to upsell
- Train sales team to effectively communicate and emphasize the value of additional products
- Improve website design and layout to promote cross-selling and product bundling
- Implement targeted promotions and discounts to encourage higher order values
- Implement and optimize targeted marketing campaigns resulting in 15% higher conversion rates
- Continuously test and refine marketing strategies to achieve 15% higher conversion rates
- Conduct market research to identify target audience and their preferences
- Utilize data analytics to measure campaign effectiveness and make necessary adjustments
- Create personalized and tailored content for each target segment
- Improve seller satisfaction rating to an average of 4.5 out of 5
- Implement a feedback system to gather seller ratings and reviews regularly
- Provide comprehensive seller training programs to enhance product knowledge and customer service skills
- Analyze seller feedback data to identify recurring issues and proactively resolve them to improve satisfaction
- Assign dedicated account managers to build stronger relationships and address seller concerns promptly
10. OKRs to accelerate the path to profitability
- Accelerate the path to profitability
- Reduce budget spent on SaaS subscriptions by 15%
- Optimise paid marketing campaigns to achieve a 10% improvement in lead conversion rate
- Increase customer lifetime value by 25%
- Increase MRR by 20%
11. OKRs to improve efficiency and profitability of lab supply store
- Improve efficiency and profitability of lab supply store
- Increase sales revenue by 10% via targeted marketing campaigns
- Reduce inventory carrying costs by 15% through improved demand forecasting
- Regularly monitor and adjust forecasting parameters
- Implement a more accurate demand forecasting software
- Train staff on new demand forecasting methods
- Improve customer satisfaction rate to 90% through enhanced after-sales support
- Implement a 24/7 customer help desk for addressing after-sales queries
- Launch feedback system to evaluate customer's after-sales experience
- Train customer support staff in proactive solution-focused service
12. OKRs to expand business operations while ensuring economic sustainability and profitability
- Expand business operations while ensuring economic sustainability and profitability
- Increase net profit margin by 15% through cost management and optimization strategies
- Negotiate with suppliers for lower purchasing prices
- Eliminate unnecessary expenses and wasteful processes
- Implement energy efficiency measures to reduce utility costs
- Improve operational efficiency by 20% with technology-based process enhancements
- Upgrade existing technology to newer, more efficient models
- Implement automated workflow software for routine processes
- Train employees on utilizing technology for increased productivity
- Gain 10 new high value contracts to diversify company revenue streams
- Directive focused negotiation and closing of 10 high-value contracts
- Develop personalized pitch proposals for each targeted client
- Identify and target 15 potential high-value clients in diverse industries
13. OKRs to achieve record profitability
- Make our org the most profitable, ever
- Improve Operating Margin by 45%
- Improve Gross Profit Margin (GPM) to 65%
- Achieve working capital turnover ratio of 2
- Reduce Operating Expense ration from 80% to 70%
- Decrease Cost of Capital (COC) by 10%
14. OKRs to enhance profitable performance of the finance team
- Enhance profitable performance of the finance team
- Improve the ROI (Return on Investment) by 10% on all key business initiatives
- Increase upselling and cross-selling efforts across channels
- Identify and eliminate inefficient processes or expenditures
- Implement tracking metrics to optimize marketing campaigns
- Increase total revenue by 15% in operational areas
- Initiate strategies for customer retention and acquisition
- Enhance product/service offerings to drive sales
- Implement efficiency measures to reduce operational costs
- Cut financial inefficiencies and wastage by 20%
- Implement stricter budget control measures
- Conduct thorough assessments to find wasteful spending
- Train employees on cost efficiency strategies
Profitability OKR best practices to boost success
Generally speaking, your objectives should be ambitious yet achievable, and your key results should be measurable and time-bound (using the SMART framework can be helpful). It is also recommended to list strategic initiatives under your key results, as it'll help you avoid the common mistake of listing projects in your KRs.
Here are a couple of best practices extracted from our OKR implementation guide 👇
Tip #1: Limit the number of key results
Having too many OKRs is the #1 mistake that teams make when adopting the framework. The problem with tracking too many competing goals is that it will be hard for your team to know what really matters.
We recommend having 3-4 objectives, and 3-4 key results per objective. A platform like Tability can run audits on your data to help you identify the plans that have too many goals.
Tability's audit dashboard will highlight opportunities to improve OKRsTip #2: Commit to weekly OKR check-ins
Setting good goals can be challenging, but without regular check-ins, your team will struggle to make progress. We recommend that you track your OKRs weekly to get the full benefits from the framework.
Being able to see trends for your key results will also keep yourself honest.
Tability's check-ins will save you hours and increase transparencyTip #3: No more than 2 yellow statuses in a row
Yes, this is another tip for goal-tracking instead of goal-setting (but you'll get plenty of OKR examples above). But, once you have your goals defined, it will be your ability to keep the right sense of urgency that will make the difference.
As a rule of thumb, it's best to avoid having more than 2 yellow/at risk statuses in a row.
Make a call on the 3rd update. You should be either back on track, or off track. This sounds harsh but it's the best way to signal risks early enough to fix things.
How to turn your Profitability OKRs in a strategy map
Quarterly OKRs should have weekly updates to get all the benefits from the framework. Reviewing progress periodically has several advantages:
- It brings the goals back to the top of the mind
- It will highlight poorly set OKRs
- It will surface execution risks
- It improves transparency and accountability
Most teams should start with a spreadsheet if they're using OKRs for the first time. Then, once you get comfortable you can graduate to a proper OKRs-tracking tool.
Tability's Strategy Map makes it easy to see all your org's OKRsIf you're not yet set on a tool, you can check out the 5 best OKR tracking templates guide to find the best way to monitor progress during the quarter.
More Profitability OKR templates
We have more templates to help you draft your team goals and OKRs.
- OKRs to implement AI for content enhancement
- OKRs to enhance skills and knowledge as Scrum Master and Agile Coach
- OKRs to successfully mentor a novice product manager
- OKRs to boost efficiency, unify team, and grow account base
- OKRs to boost slurry pump and its spare parts sales
- OKRs to establish credibility and affordability in the tour agency market
OKRs resources
Here are a list of resources to help you adopt the Objectives and Key Results framework.
- To learn: What is the meaning of OKRs
- Blog posts: ODT Blog
- Success metrics: KPIs examples
Create more examples in our app
You can use Tability to create OKRs with AI – and keep yourself accountable 👀
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