OKR Go - How to set goals that work

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

Transcript

1. regan davis regandavis.com OKR GO
2. measure your bets. regandavis.com
3. objectives + key results regandavis.com okr I will achieve ______________ as measured by _____________. (credit: John Doerr, Measure What Matters) (goals + measurements)
4. —Marissa Mayer, former CEO of Yahoo “If it doesn’t have a number, it isn’t a key result." regandavis.com
5. regandavis.com objectives simple, short, aspirational key results 2-4 outcome goals, separate metrics from tasks
6. a change in behavior business results that drives outcome regandavis.com (credit: Josh Seiden, Outcomes Over Output)
7. regandavis.com objective Create an Awesome Customer Experience How would we know if we created an awesome experience? ? (credit: Felipe Castro)
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
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? ?
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%
11. regandavis.com
12. huge mistakes regandavis.com
13. ‘ship it’ goals regandavis.com 1.
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?”
15. i worked alone regandavis.com 2.
16. new year’s resolutions regandavis.com 3.
17. strategy & tactics regandavis.com
18. Company/Strategic OKR Team/Tactical OKR Team/Tactical OKR Team/Tactical OKR (quarterly) (quarterly) (quarterly) (yearly) regandavis.com
19. OKRs strategy design goals sprint goals
20. regandavis.com (insipred by: Andrew Cedotal, on slideshare) o Rule the Galaxy
21. regandavis.com Rule the Galaxy Too Many Jedi Unknown Rebellion Problems/ Opportunities Ideas Moon Shaped Superweapon! Empire Goal
22. regandavis.com Rule the Galaxy Too Many Jedi Unknown Rebellion Moon Shaped Superweapon! Empire Goal Problems/ Opportunities Ideas Strike Fear Planet Destroying Superweapon!
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
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
25. but what about my features? regandavis.com
26. regandavis.com objective key results activities
27. regandavis.com o kr a objective key results activities
28. regandavis.com
29. get uncomfortable regandavis.com
30. regandavis.com is the goal stretching
31. regandavis.com makes the team stretching • rethink the way they work • ask hard questions • have difficult conversations before building
32. regandavis.com
33. regandavis.com moonshots roofshots (credit: Felipe Castro) regandavis.com
34. repetition repetition repetition habits require regandavis.com
35. the check-in regandavis.com
36. Monthly Quarterly Bi-weekly • Cross-team Strategy • Craft Quarterly OKRs • Planning Session • OKR check-in • Team meeting • Proceed or Pivot
37. check-in questions confidence progress activities impediments (credit: Felipe Castro) regandavis.com
38. proceed or pivot regandavis.com
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
40. let’s try it.
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
42. bonus: probabilistic thinking
44. recap regandavis.com
45. regandavis.com objective key results activities simple sentence 2-4 measurable outcomes (from X to Y) things we might ”try”
46. Strategic OKR Tactical OKR Tactical OKR Tactical OKR (quarterly) (quarterly) (quarterly) (yearly) regandavis.com
47. awkward & uncomfortable regandavis.com
48. need alignment regandavis.com
49. pivoting is ok regandavis.com