Tability is a cheatcode for goal-driven teams. Set perfect OKRs with AI, stay focused on the work that matters.
What are Royalties OKRs?
The OKR acronym stands for Objectives and Key Results. It's a goal-setting framework that was introduced at Intel by Andy Grove in the 70s, and it became popular after John Doerr introduced it to Google in the 90s. OKRs helps teams has a shared language to set ambitious goals and track progress towards them.
Crafting effective OKRs can be challenging, particularly for beginners. Emphasizing outcomes rather than projects should be the core of your planning.
We've tailored a list of OKRs examples for Royalties 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.
The best tools for writing perfect Royalties OKRs
Here are 2 tools that can help you draft your OKRs in no time.
Tability AI: to generate OKRs based on a prompt
Tability AI allows you to describe your goals in a prompt, and generate a fully editable OKR template in seconds.
- 1. Create a Tability account
- 2. Click on the Generate goals using AI
- 3. Describe your goals in a prompt
- 4. Get your fully editable OKR template
- 5. Publish to start tracking progress and get automated OKR dashboards
Watch the video below to see it in action 👇
Tability Feedback: to improve existing OKRs
You can use Tability's AI feedback to improve your OKRs if you already have existing goals.
- 1. Create your Tability account
- 2. Add your existing OKRs (you can import them from a spreadsheet)
- 3. Click on Generate analysis
- 4. Review the suggestions and decide to accept or dismiss them
- 5. Publish to start tracking progress and get automated OKR dashboards
Tability will scan your OKRs and offer different suggestions to improve them. This can range from a small rewrite of a statement to make it clearer to a complete rewrite of the entire OKR.
Royalties OKRs examples
You will find in the next section many different Royalties Objectives and Key Results. We've included strategic initiatives in our templates to give you a better idea of the different between the key results (how we measure progress), and the initiatives (what we do to achieve the results).
Hope you'll find this helpful!
OKRs to to expand my understanding of royalties
- ObjectiveTo expand my understanding of royalties
- KRAttend 3 royalties seminars or webinars and share key learnings
- Take detailed notes during each session
- Share key insights with team post-event
- Register for three royalties seminars or webinars
- KRRead and summarize 5 books on royalties by industry experts
- Research and purchase 5 reputable books on industry royalties
- Draft detailed summaries of each book
- Thoroughly read each book, taking comprehensive notes
- KRInterview or have informative discussions with 2 seasoned professionals in royalties management
- Prepare a list of relevant questions for discussions or interviews
- Schedule interviews or discussions with selected professionals
- Identify two experienced professionals in royalties management
OKRs to enhance my understanding of royalties
- ObjectiveEnhance my understanding of royalties
- KRAttend two educational workshops or webinars related to royalties accounting
- Identify suitable workshops or webinars on royalties accounting
- Attend and actively participate in both sessions
- Register for two selected educational events
- KRRead and summarize five books about royalties in various industries
- Read each book carefully and comprehend key points
- Summarize each book's main arguments and findings
- Select and procure five books about royalties in different industries
- KRInterview three professionals in royalty management for unique insights
- Arrange and conduct interviews with these professionals
- List potential professionals in royalty management
- Analyze and document obtained insights
OKRs to enhance understanding of royalty structures in business contexts
- ObjectiveEnhance understanding of royalty structures in business contexts
- KRInterview 3 professionals in the field of royalties in businesses
- Draft relevant interview questions tailored for each professional
- Identify three professionals in the royalties business field
- Schedule and conduct the three interviews
- KRRead and summarise 5 books related to business royalties
- Write a concise summary for each book
- Select and procure 5 relevant books about business royalties
- Carefully read and interpret each book
- KRDevelop and present a detailed report on the role of royalties in business
- Prepare a presentation highlighting report findings
- Research the significance and mechanism of royalties in business
- Compile gathered data into a comprehensive report
OKRs to broaden understanding of royalty components in contracts
- ObjectiveBroaden understanding of royalty components in contracts
- KRComplete an advanced course on contract royalty structures by the end of Q2
- Research and select an advanced contract royalty course
- Take course exams and complete course work
- Enroll in chosen course and schedule study times
- KRConduct informative discussions with 3 expert lawyers on contractual royalties
- Schedule and conduct informative discussions with each lawyer
- Identify and reach out to 3 expert lawyers in contractual royalties
- Prepare comprehensive questions about contractual royalties
- KRAnalyze and comprehend 20 past contracts with differing royalty conditions
- Summarize findings for applicable learning points
- Identify the varying royalty conditions in each
- Organize and review 20 past contracts for evaluation
Royalties OKR best practices
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
The #1 role of OKRs is to help you and your team focus on what really matters. Business-as-usual activities will still be happening, but you do not need to track your entire roadmap in the OKRs.
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.
Tip #2: Commit to weekly OKR check-ins
Don't fall into the set-and-forget trap. It is important to adopt a weekly check-in process to get the full value of your OKRs and make your strategy agile – otherwise this is nothing more than a reporting exercise.
Being able to see trends for your key results will also keep yourself honest.
Tip #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.
Save hours with automated OKR dashboards
Your quarterly OKRs should be tracked weekly if you want to get all the benefits of the OKRs 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, you can move to Tability to save time with automated OKR dashboards, data connectors, and actionable insights.
How to get Tability dashboards:
- 1. Create a Tability account
- 2. Use the importers to add your OKRs (works with any spreadsheet or doc)
- 3. Publish your OKR plan
That's it! Tability will instantly get access to 10+ dashboards to monitor progress, visualise trends, and identify risks early.
More Royalties OKR templates
We have more templates to help you draft your team goals and OKRs.
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