Objectives And Key Results
At Google (and many other companies) we are working with OKRs. From the company level down to the personal level. OKR stands for Objectives and Key Results. It is a method of defining and tracking objectives and their outcomes. Its main goal is to connect company, team and personal objectives to measurable results, making people move together in the right direction.
Let’s see why it might be a methodology you would like to use in your startup.
First, you wish to define what is the goal (or the top 1–3 objectives) you try to accomplished.
- What you’re trying to accomplish?
- They should be meaningful — Try to think on something that will move the needle for real.
- How you know you’re making (useful) progress?
- Make sure it’s a measurable metric. As they say, you can’t manage what you can’t measure.
Which is true, in most cases.
- Write them at the start of the quarter (or year or month).
- Grade them at the end of the quarter.
Objective: Beat our Q1 financial targets
- Achieve > $1M in product revenue
- International sales of at least $0.5M
- Customer churn rate under 4%
Objective: Implement a new user-testing process
- Conduct 5 testing sessions per week with target users
- 80%+ of interviewed users should be from different background (diversity is the key).
Objective: Deliver superior quality new leads
- Deliver 140 new leads in Q3
- Increase monthly webpage views by 25%
- You can use this Startup OKRs template as google sheet.
Originally published on Ido Green