Microsoft mission: everyone deserves a healthy and productive life
Our mission: everyone deserves healthy skin
Vision: inclusivity through healthy skin
What can you be the best in the world at? (anti inflammation)
Our biggest advantage was that we aimed higher!
key results - sub goals
When the goal is too aspirational it is bad for credibility
The mission is directional
An objective has a set of concrete steps that you intentionally engage and actually trying to go for. you need to know how you are going to get to your objective (KRs)
Annual strategy review: what is the objective here?
Pay close attention to weather your data is getting you to your ultimate goal
The harder the goal the higher the level of performance
talking point - page 135 - committed goals and aspirational goals
what ”impossible” goal can we set for a product SKU or product line? (Features or function?)
60 & 70% attainment on goals (as they are stretch goals every time to ensure greater than 10% growth, which the market will do by default
What do we need to stop doing as well as start doing? (OKR considerations)
how can our team create maximum value?
what would amazing look like?
when you aim for the stars, you may come up short but still reach the moon
**Objective - develop the #1 day cream on the market
**Key result: 5000 page hits per week/per day?
When you set a measurable objective for the year, and chunk the problem quarter by quarter - moonshots become dooable
measurable and trackable
debate the company objectives to ensure they are clear
this is the direction we want to go and this is how we are going to get there
narrow your lost to three or four objectives
the most important things need to get done first or they wont get doe at all (big rocks/pebbles & sand)
singular core metric
egress bandwidth: from data center to users
put peoples names against company goals
Stretch OKRs tend to set powerful forces into action (unintended, but great consequences)
CFRs - conversation, feedback, recognition
Monthly one one ones about how things are going
second quarterly reviews against OKRS
Third, professional development conversation, career trajectory, where they have been and where they want to go
fourth self driven insight, positive reinforcement and feedback
great job, what did you like about it?
segregate raw goal scores from compensation decisions - need to look at context and causality talking about specific problems and situations teach skills and how to
the supervisor is there to learn and coach
is he satisfied with his own performance, does some frustration or obstacle gnaw at him?
does he have doubts about where he is going?
how best to align individual objectives and key results with organizational priorities
if you dont know how well you are performing how can you get better?
are these the right things for you and me to be focussed on? if we complete them will it be seen as a huge success? do you have any feedback on how I/we can stretch more
What do you need from me to be successful?
And now let me tell you what I need from you?
Institute peer to peer recognition
All hands meeting - unsolicited shout out to well dones
establish clear criteria
achievement of the month
share recognition stories
newsletters or company blogs
make recognition frequent and attainable
tie recognition to company goals and strategies
leaders throughout the orgaisation take a proactive ownership of the process
adobe four core values: genuine, exceptional, innovative, involved
allocated budgets for incentives and equity, a pool of money to be distributed as they see fit
teach you how to manage the business within existing limits
you are paid for the quality of the decisions you make
each quarter consider how their decisions align with the company
team sports don’t work unless the whole team plays together
**convert some of the companies key results into their own objectives
**Objective: complete company SOPS
Key results: all departments SOPS defined in Slite ready for communication through Askspoke
A really good company values different opinions, mines for dissent, and it finds ways to bring it up to the surface to mine it out
** gives you an opportunity to think what your doing and. How your goals roll up to what the company needed for the quarter
** objective - new revenue - marketing and repeat revenue (product)
**who owns the customer
** how would you key result that goal?
my KR is at risk
Every two weeks, one hour one on one conversation: don’t talk about work, agenda is what you are trying to accomplish over the next two to three years, and how you are breaking that down into a two week plan. Three questions: What makes you happy, what saps your energy, How would you describe your dream job? Then I say “Look I want to tell you what my expectations are” This goal seems very important to you but you didn’t make a lot of progress on the last two weeks. Why is that?
**breakdown our new vision and mission into OBJECTIVES AND KEY RESULTS
KR **NPS of 42 or better
KR **CSAT of X
KR **75% of customers prefer Ellus & Krue over past brands
***Page 256 - writing effective OKRs
pulsing gauges the organisation’s real time health - body, soul, work & culture
***Objective: determine product market fit
look back at every quarter and hold our selves accountable, look ahead every quarter to imagine how we can better live our values
** behaviour defines a company more meaningfully than product lines or market share
**companies that our behave their completion will also out perform them
the flatter the org chart the more agile the Organization.
Organizational development officer
**Success is based on transparent costs, quality and service, availability of choices - describe to me the value that you believe you have created for us in consideration of what you have been paid. Do you think that we have received equivalent value in consideration of what we paid? Equal value equation? Or unequal value equitation?
OKRs are a way to connect everyone goals
**Committed or aspirational OKRS - P257
**What is the metric here (measurable) - specific, time
**Selling your res - P231
vote on the most important at risk reds
then brainstorm together as long as it takes to get the objective back on track
**objective: to self sustain our monthly burn (not require external funding)
key result: to sell 10000 units by March
Key result: 40% sales to be Serum
key result: sell 1500 units per month
How do we measure engagement? - open rates, convert to VIP program, repeat customers, purchases per quarter
What actions does your passion lead you to do
OKR colour coding is extremely important
If everything is green you have failed
More ambitious goals
We use a process called objectives and key results (OKRs) to help us communicate, measure and achieve those lofty goals.
We use OKRs to plan what people are going to produce, track their progress vs plan, and coordinate priorities and milestones between people and teams. We used OKRs to help people stay focused on the most important goals, and help them avoid being distracted by urgent but less important goals.
0.0 - 0.3 is read
0.4 - 0.6 is yellow
0.7 - 1.0 is green
Objectives are the whats, they:
- express goals and intents
- are agressive yet realistic
- must be tangible, objective and unambiguous, should be obvious toa rational observer weather an objective has been achieved
- the successful achievement of an objective must provide clear value to E&K
Key results are the hows, they:
- express measurable milestones which, if achieved, will advance objectives in a useful manner to their constituentsmust describe outcomes, not activities. if your KRs include words like "consult, help, analyze or participate" they describe activities. Instead describve end user impact of these activities:m "publish, rather than assess"
- must include evidence of completion. must be available, credible and easily discoverable, examples includes change lists, links to docs, notes and metric reports
Cross team OKRs
- all teams should have OKRS describing their ccommitment to deliver their part of the project.
Committed versus aspirational OKRs
Commitments are OKRs that we agree will be achieved and we will be willing to adjust schedules and resources to ensure that they are delivered.
- the expected score for a committed OKR is 1.0, a score of less than 1.0 requires explanation for the miss, as it shows errors in planning and or/execution.
Aspirational OKRs express how we'd like the world to look, even though we have no clear idea how to get there and/or the resources necesasry to deliver the OKR.
aspirational OKRs have an expected average score of 0.7 with high variance