Okrs for Startups by Visible.vc

Objectives & Key Results (aka OKRs) for Startups

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What are OKRs?

A framework to set goals and strategy over a specific time.


Objectives


1. Should be clear

2. Are what you hope to accomplish at end of period

3. Should foster discussion and focus on what company should be doing

4. 50% should come from “bottom up”

Objectives


Gmail was born from OKRs!


Key Results


1. Quantitative results that can be measured

2. They are not key results unless they are a number!

3. Feel uncomfortable

4. Graded on a scale of 0 to 1.0

5. .6 to .7 is the target

Key Results


Give me an example!


Increase Active Companies

Increase Monthly Active Companies 300%

Create, define and track a company “health” score

Outbound campaign(s) to 5,000 companies

Dummy Example of Visible OKRs


Benefits of OKRs


1. Disciplines thinking, major goals will surface 2. Create autonomy & accountability 3. Communicate accurately 4. Focuses efforts, keeps organization in step with each other 5. Established indicators for measuring progress

Benefits


Used by companies of all sizes!

Benefits

or or


OKRS are not


1. A performance or evaluation tool 2. Set in stone 3. Easy to achieve 4. Private or solo’ed off

They are not:


Setting OKRs


Typically there are OKRs for company, teams and individuals.


OKRs can be shared across company, teams and individuals.


They should be created in 1 on 1s through a “negotiation”

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Company Objectives

Team Objectives

Individual Objectives

1 on 1’s -> negotiate, develop key results & monitor progress.

50% of company objectives come from bottom up

Company Wide: OKRs communicated & graded


They need to be transparent across the organization


Have them live in a Google site, doc, etc.


Grading OKRs


1. Grade OKRs with the entire company*, transparent as can be 2. Assign each key results a score of 0 to 1.0 3. Average Key Results to get Objective Score

*while company is still small enough


Increase Active Companies 0.73

Increase Monthly Active Companies 300% 0.5

Create, define and track a company “health” score 1.0

Outbound campaign(s) to 5,000 companies 0.7

Example Grading

.7 generally means objective was a success!


Monitor OKRs throughout the objective period. Discuss in 1 on 1s.


Now what?


OKRs are data!!!!


They help calibrate and find what we’ve learned


Iterate & build!


Great Resources ResourcesOriginal Blogpost: http://visible.vc/blog/okrs-for-startups/

https://medium.com/startup-tools/okrs-5afdc298bc28

http://sparkcapital.tumblr.com/post/104760637181/adapting-okrs-for-your-startup

http://hunterwalk.com/2013/03/01/manager-okrs-maker-okrs-how-id-change-googles-goal-setting-process/

http://firstround.com/review/How-to-Make-OKRs-Actually-Work-at-Your-Startup/

https://www.youtube.com/watch?v=mJB83EZtAjc

http://visible.vc/blog/okrs-for-startups/

https://medium.com/startup-tools/okrs-5afdc298bc28

http://sparkcapital.tumblr.com/post/104760637181/adapting-okrs-for-your-startup

http://hunterwalk.com/2013/03/01/manager-okrs-maker-okrs-how-id-change-googles-goal-setting-process/

http://firstround.com/review/How-to-Make-OKRs-Actually-Work-at-Your-Startup/

https://www.youtube.com/watch?v=mJB83EZtAjc

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Okrs for Startups by Visible.vc