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OKR Go - How to set goals that work

Regan Davis
June 07, 2022
120

OKR Go - How to set goals that work

An overview of Objectives and Key Results, and how to write / check-in on them.

Regan Davis

June 07, 2022
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  1. regan davis
    regandavis.com
    OKR
    GO

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  2. measure your bets.
    regandavis.com

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  3. objectives + key results
    regandavis.com
    okr
    I will achieve ______________ as
    measured by _____________.
    (credit: John Doerr, Measure What Matters)
    (goals + measurements)

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  4. —Marissa Mayer, former CEO of Yahoo
    “If it doesn’t have a number, it isn’t
    a key result."
    regandavis.com

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  5. regandavis.com
    objectives simple, short, aspirational
    key results 2-4 outcome goals, separate
    metrics from tasks

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  6. a change
    in behavior
    business
    results
    that drives
    outcome
    regandavis.com
    (credit: Josh Seiden, Outcomes Over Output)

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  7. regandavis.com
    objective Create an Awesome Customer Experience
    How would we know if we created an
    awesome experience?
    ?
    (credit: Felipe Castro)

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  8. regandavis.com
    objective
    key results
    Create an Awesome Customer Experience
    Increase Repurchase Rate from X to Y
    Improve NPS promoters from X to Y

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  9. regandavis.com
    objective
    key results
    Create an Awesome Customer Experience
    Increase Repurchase Rate from X to Y
    Improve NPS promoters from X to Y
    Is there something we should be
    careful of?
    ?

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  10. regandavis.com
    objective
    key results
    Create an Awesome Customer Experience
    Increase Repurchase Rate from X to Y
    Improve NPS promoters from X to Y
    Maintain CAC under Y%

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  11. regandavis.com

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  12. huge mistakes
    regandavis.com

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  13. ‘ship it’ goals
    regandavis.com
    1.

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  14. regandavis.com
    Tiers of Goals Definition Example
    Outcome Changes in user behavior Go from 2% parking 4x/mo to 5%
    Traction Usage based goals. Usage of ‘Quick Rebook’ goes from 10% to 20%
    Multi-Step Delivery Incremental progress of a
    feature
    Go from 40 to 50 codebases migrated to our v2 API
    Delivery Binary output goals Ship the Autoplay feature.
    getting better at goal writing
    “so what?”

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  15. i worked alone
    regandavis.com
    2.

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  16. new year’s
    resolutions
    regandavis.com
    3.

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  17. strategy &
    tactics
    regandavis.com

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  18. Company/Strategic
    OKR
    Team/Tactical
    OKR
    Team/Tactical
    OKR
    Team/Tactical
    OKR
    (quarterly)
    (quarterly)
    (quarterly)
    (yearly)
    regandavis.com

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  19. OKRs
    strategy
    design
    goals
    sprint
    goals

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  20. regandavis.com
    (insipred by: Andrew Cedotal, on slideshare)
    o Rule the Galaxy

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  21. regandavis.com
    Rule the Galaxy
    Too Many Jedi
    Unknown
    Rebellion
    Problems/
    Opportunities
    Ideas Moon Shaped
    Superweapon!
    Empire Goal

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  22. regandavis.com
    Rule the Galaxy
    Too Many Jedi
    Unknown
    Rebellion
    Moon Shaped
    Superweapon!
    Empire Goal
    Problems/
    Opportunities
    Ideas
    Strike Fear
    Planet Destroying
    Superweapon!

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  23. regandavis.com
    Rule the Galaxy
    Kill the Jedi
    Quash the
    Rebellion
    Strategic
    Objective
    Team OKRs Strike Fear into
    Hearts of Many
    • Kill 98% of all Jedi
    • Search Feelings
    3x a week
    • Choke 2 Admirals
    • Find 3 Rebel Bases
    • Launch 100 probes
    • Keep Bounty Hunter
    costs below 15% of
    budget
    • Increase Taxes from 10%
    to 60%
    • Destroy at least 1 planet
    • Ensure 95% compliance
    with Imperial Brand
    Guidelines

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  24. Strategy / Product Team Key Result
    “Instant” shipping % of orders fulfilled within 2d / 1d / 2h
    Memberships & discounts % of visitors subscribing to Prime within 1 week
    Personalization % of recommended items added to cart
    New content experiences % of users finishing purchased e-books, videos
    New devices % of users engaging with device 3x / week
    regandavis.com

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  25. but what about my
    features?
    regandavis.com

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  26. regandavis.com
    objective
    key results
    activities

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  27. regandavis.com
    o kr a
    objective
    key results
    activities

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  28. regandavis.com

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  29. get
    uncomfortable
    regandavis.com

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  30. regandavis.com
    is the goal
    stretching

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  31. regandavis.com
    makes the team
    stretching
    • rethink the way they work
    • ask hard questions
    • have difficult conversations
    before building

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  32. regandavis.com

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  33. regandavis.com
    moonshots
    roofshots
    (credit: Felipe Castro) regandavis.com

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  34. repetition
    repetition
    repetition
    habits require
    regandavis.com

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  35. the check-in
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  36. Monthly
    Quarterly
    Bi-weekly
    • Cross-team Strategy
    • Craft Quarterly OKRs
    • Planning Session
    • OKR check-in
    • Team meeting
    • Proceed or Pivot

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  37. check-in questions
    confidence
    progress
    activities
    impediments
    (credit: Felipe Castro) regandavis.com

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  38. proceed or
    pivot
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  39. Key Result Conf Score
    Activities
    Increase # New Subscribers /mo
    (from 10k to 15k)
    0.50 0.30 Price test, Referral Bonus test
    Improve % of Recurring Purchases
    (from 5% to 15%)
    0.35 0.40 Email marketing campaign, Fire Phone
    Shorten browsing experience
    (from 10 clicks to 3 clicks)
    0.80 0.55 Checkout flow redesign, recommendation
    o Surge Repeat Purchasers
    regandavis.com

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  40. let’s try it.

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  41. Category Universal Objective Example OKR Example Initiative
    Future
    Innovation
    (Hard to copy
    advantage)
    Support the product’s core value O: Reduce the effort to find an airport
    parking spot
    KR: 20% of buyers book w/in 3 clicks, conv rate
    +10%
    Search cards, rec engine, spot details overhaul,
    site speed
    Create barriers to competition Rec engine, dynamic pricing, Homer
    Marketplace
    Monetization
    (Delight
    Customers)
    Grow market share O: Win the search game against
    competitors
    KR: Rank in the top 3 SEO results for 100 most
    common location terms
    Midfunnels, site speed, Load prices into SEO/
    SEM ads
    Fulfill more demand KR: Reduce % of searches with <5 results from
    10% to 5%
    Alt Supply in emerging markets, list multiple
    spots at a site
    Develop new markets KR: Gain 5% of operator inventory in
    “emerging market” cities
    Homer, DAPHNE, alt supply
    Improve recurring revenue (Engagement) KR: Increase repurchase rate to 65% Pre-payment, quick rebook, initial post-
    purchase promotion
    Operational
    Efficiency
    (Margin
    Enhancing)
    Support higher prices KR: Double customer fee across 10 cities
    while...
    KR: Maintaining order volume >5%
    Fees rollout, checkout conv flow updates
    Improve LTV KR: Increase LTV +30% for mobile
    KR: 10% of monthly parkers add +1 Transient
    park
    Quick rebook
    Discount, subscription
    Lower costs KR: Reduce per-partner development effort by
    50% (while growing operator rev $1M)
    Publish partner API
    Leverage existing assets KR: Shift 30% of web searches to internal API
    KR: Simplify data pipelines -- reduce from 3 to
    1
    Search v2
    Refactor data pipelines
    universal OKRs

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  42. bonus: probabilistic thinking

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  43. recap
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  44. regandavis.com
    objective
    key results
    activities
    simple sentence
    2-4 measurable outcomes (from X to Y)
    things we might ”try”

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  45. Strategic
    OKR
    Tactical
    OKR
    Tactical
    OKR
    Tactical
    OKR
    (quarterly)
    (quarterly)
    (quarterly)
    (yearly)
    regandavis.com

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  46. awkward &
    uncomfortable
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  47. need alignment
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  48. pivoting is ok
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