Our Company Measures Success with the North Star Metric: Here’s Why It Works

During my 18 years in corporate America, I’ve become skilled at outlining objectives and key results (OKRs). They’re what I used when I co-founded Qwick, too. OKRs are good for driving us toward specific numbers like sales or revenue targets, but they don’t always communicate why those numbers matter or what happens once we reach them. OKRs don’t focus on the true impact of our work or the big-picture goals that motivate us.

Last year, the Qwick team overhauled how we set goals and measure success. One of our venture capitalists, Curt Roberts, learned a lot about corporate strategy through his work with Nike, McKinsey, and other companies. Curt helped us redefine our purpose around a North Star Metric: to successfully match 3 million Professional shifts in 30 U.S. cities by the end of 2024. In adopting a North Star, we’ve built a structured process that drives us toward a meaningful goal. Our North Star is aligned with our company values, provides a clear path to long-term growth, and positions us to make a lasting positive impact. Understanding how Qwick’s success changes the lives of the Professionals and Business partners on our platform has completely changed how we approach each workday.

Guided by the North Star Metric, company goal-setting at Qwick went from an ordinary corporate initiative to an engaging process that inspires and motivates us. Here’s how your company can find its own North Star.

1. Define your vision.

Think carefully about your purpose. Why are you raising capital and building a product? Why is your team dedicating days — and sometimes nights — to this work? What’s your lofty goal? Our vision at Qwick is clear: we want to create prosperity in the food and beverage industry by matching the best Professionals and Business Partners.

2. Determine a path.

Once you’ve clarified your vision, consider how you’ll get there. What are you marching toward? What is your time frame? At Qwick, our mission is to successfully match 3 million Professional shifts in 30 U.S. cities by the end of 2024. That’s what we’re all working to achieve.

3. Outline your success pillars.

Specify what needs to happen in order to achieve your mission and realize your vision. My team came up with five pillars that define success for us as a company. Then, we took each of those five pillars and said, “Ok, what metrics will define the progress we want to see?” Qwick’s Experience Excellence pillar looks at quantifiable measurements of Business and Professional satisfaction with our service and also pulls in mobile app store ratings. We set annual targets for those metrics, and we measure our progress every single month. If we achieve the targets for each metric, we’ve reached success in that pillar.

4. Remember your why.

We’ve also outlined a reason — a well-thought-out why — for every monthly measure. Why does this metric matter? Why should it happen in this time frame? This gives us clear measures of success for every given month. Our monthly success keeps us marching toward our annual goals and the long-term vision we’ve set for 2024.

5. Make it meaningful.

The North Star Metric process works best when built upon a meaningful vision. At Qwick, accomplishing our vision means we’re creating prosperity for both Professionals and Business Partners. That prosperity manifests in a multitude of ways. Businesses on our platform fill open shifts quickly, finding reliable individuals with specialized skills right as needed. Qwick also cuts the time and resources they spend on recruitment. Professionals get to set their own schedules, find employers and work environments that suit them, and earn livable wages that help them reach their financial dreams. We hear from Professionals who — using the money they’ve earned with Qwick — have paid their rent, purchased a car, worked their way through grad school, or even saved for a house. Our work actually changes people’s lives.

As a founder, your passion should inspire and motivate others. As a team member, you’re more likely to align with objectives that add purpose and positivity to your work. When everyone works toward a shared, high-impact goal, individuals are more creative, more engaged, and more excited to put their hearts and souls into their efforts.