Accomplish Big Goals With Objectives & Key Results (Christina Wodtke)
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Session slides from Future Insights Live, Vegas 2015: https://futureinsightslive.com/las-vegas-2015/ Christina Wodtke has devoted her career to tackling monumental tasks. She’s helped grow companies like LinkedIn, Yahoo, and the New York Times. Nowadays she works with startups and entrepreneurs, sharing her strategies for success and inspiring them to pursue big goals and outlandish dreams. Christina knows how to inspire diverse teams to work together, going all out in pursuit of a single, ultra-challenging goal. Hint: It’s not about to-do lists and accountability charts. How do you get your team to commit to bold goals? How do you stay motivated despite setbacks and disappointments? And is failure ever a viable option? Christina Wodtke will demonstrate how she uses objectives and key results to help teams tackle and realize big goals in a methodical way, leaving nothing to chance. You’ll learn the beauty of a good fail and how regular check-ins can keep you on track to success.
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Accomplish Big Goals With Objectives & Key Results (Christina Wodtke)
- 1. Accomplish Big Goals With Objectives & Key Results @cwodtke | cwodtke@eleganthack.com www.eleganthack.com
- 3. I have worked many great places and done many impossible things. Along the way, I have learned important lessons I’m here to share, including…
- 5. Once upon a time there was a start-up.
- 7. Hanna
- 8. Jack
- 14. Restaurant Suppliers? Hell no Let’s talk to Jim
- 15. JimLet me tell you a story
- 17. “I looked out the window at the Ferris wheel of the Great America amusement park revolving in the distance, then I turned back to Gordon and I asked, “If we got kicked out and the board brought in a new CEO, what do you think he would do?”
- 18. Gordon answered without hesitation, “He would get us out of memories.”
- 19. “Why shouldn’t you and I walk out the door, come back and do it ourselves?” Andy Grove
- 21. Hire a sales guy? Change the website… Hire a sales team.
- 24. OKRs Objectives and Key Results
- 26. OKRs O: Dream KR: Success criteria
- 27. “Google did more than adopt it,” says Doerr. “They embraced it.” OKRs became an essential component of Google culture. Every employee had to set, and then get approval for, quarterly OKRs and annual OKRs.”
- 28. OKRs O: Qualitative Shoot for the moon dream
- 29. Objective: Establish epic value to Northern California Restaurant Suppliers as the best tea provider
- 30. OKRs KR: Quantitative “How do we know we met the objective?
- 31. KR: Hire a sales guy KR: redo the website KR: Place ads in Restaurant supply magazines
- 33. KR: Reorders at 85% KR: 20% of reorders self-serve KR: Revenue of 250K
- 34. Jim You want flexibility in the how, not the what.
- 36. OKR Test Objective: Is it aspirational & qualitative? KRs: Is it a result or a task? Is it measureable? Does it take a full quarter to achieve? Is it really hard? 50% Confidence?
- 37. Objective: Establish epic value to suppliers AND delight existing customers with a responsive customer service team AND new order flow online to support reorders, reducing calls by 50%
- 38. Team reluctantly agrees Hell no
- 40. Team Wiffed ALL
- 42. I want you to meet…
- 43. Raphael
- 46. FOCUS
- 47. objective
- 48. UNITES EFFORTS
- 49. Key Results
- 50. DEFINES SUCCESS
- 52. IT’S WHAT YOU HAVE TO DO
- 53. CADENCE
- 54. Commitment Mondays are for promises
- 55. Objective: Establish clear value to distributers as a quality tea provider KR: Reorders at 85% 5/10 KR: 20% of reorders self-serve 5/10 KR: Revenue of 250K 5/10 Priorities this week Next 4 weeks - Projects OKR Confidence Team Health: Distributor satisfaction Health: Health Yellow P1 P1 P1 Green Close deal with TLM Foods Team struggling with direction change 3 solid sales candidates in for interview Passive reorder notifications New self serve flow for distributors Metrics for distributors on tea sales Hire Customer service head New Order flow Spec’d
- 56. Objective: Establish clear value to distributers as a quality tea provider KR: Reorders at 85% 5/10 KR: 20% of reorders self-serve 5/10 KR: Revenue of 250K 5/10 Priorities this week Next 4 weeks - Projects OKR Confidence Team Health: Distributor satisfaction Health: Org Health Yellow P1 P1 P1 Green Close deal with TLM Foods Team struggling with direction change 3 solid sales candidates in for interview Passive reorder notifications New self serve flow for distributors Metrics for distributors on tea sales Hire Customer service head New Order flow Spec’d Commitment!
- 57. Objective: Establish clear value to distributers as a quality tea provider KR: Reorders at 85% 5/10 KR: 20% of reorders self-serve 5/10 KR: Revenue of 250K 5/10 Priorities this week Next 4 weeks - Projects OKR Confidence Team Health: Distributor satisfaction Health: Org Health Yellow P1 P1 P1 Green Close deal with TLM Foods Team struggling with direction change 3 solid sales candidates in for interview Passive reorder notifications New self serve flow for distributors Metrics for distributors on tea sales Hire Customer service head New Order flow Spec’d Commitment! Heads up!
- 58. Objective: Establish clear value to distributers as a quality tea provider KR: Reorders at 85% 5/10 KR: 20% of reorders self-serve 5/10 KR: Revenue of 250K 5/10 Priorities this week Next 4 weeks - Projects OKR Confidence Team Health: Distributor satisfaction Health: Org Health Yellow P1 P1 P1 Green Close deal with TLM Foods Team struggling with direction change 3 solid sales candidates in for interview Passive reorder notifications New self serve flow for distributors Metrics for distributors on tea sales Hire Customer service head New Order flow Spec’d Commitment! Heads up! Discussion & Support!
- 59. Objective: Establish clear value to distributers as a quality tea provider KR: Reorders at 85% 5/10 KR: 20% of reorders self-serve 5/10 KR: Revenue of 250K Priorities this week Next 4 weeks - Projects OKR Confidence Team Health: Distributor satisfaction Health: Org Health Yellow P1 P1 P1 Green Close deal with TLM Foods Team struggling with direction change 3 solid sales candidates in for interview Passive reorder notifications New self serve flow for distributors Metrics for distributors on tea sales Hire Customer service head New Order flow Spec’d Commitment! Heads up! Discussion & Support! Protect what matters
- 60. DEDICATION TO YOUR GOALS TO YOUR TEAM
- 61. Fridays are for Wins & Wine (or beer. or cake.)
- 64. Engineering demos Design demos Sales & Bizdev shares wins
- 65. Engineering demos Design demos Sales & Bizdev shares wins Beer
- 66. Everybody needs bragging time • Motivates team to have something to share • Makes you feel like part of something special • Show progress
- 67. Back to the Team We’re doomed
- 69. "I don't think we're marketing right" "We had to deal with wrong orders and late deliveries to Los Gatos" "We didn't hire a second salesperson!" "We had some problems with the performance of the site"
- 70. Hold on! Most companies fail the first time they try OKRs
- 71. It’s OK. We’re trying again… but this time One OKR for quarter
- 72. One OKR for quarter Weekly check-ins It’s OK. We’re trying again… but this time
- 73. It’s OK. We’re trying again… but this time One OKR for quarter Weekly check-ins Friday Celebrations
- 75. Team made 2 of 3 KRs!
- 77. Series A
- 79. WHY CAN’T WE GET THINGS DONE?
- 80. RADICAL FOCUS
- 81. Objective: Establish epic value to suppliers AND delight existing customers with a responsive customer service team AND new order flow online to support reorders, reducing calls by 50%
- 82. Objective: Establish epic value to Northern California Restaurant Suppliers as the best tea provider
- 83. Wait! We can’t just forget about RevenueCodeHeal thCustoemrSatisfa ctionSalesHiring
- 84. PUSH VS PROTECT Team Health: Distributor satisfaction Health: Org Health Yellow Green Team struggling with direction change Objective: Establish clear value to distributers as a quality tea provider KR: Reorders at 85% 5/10 KR: 20% of reorders self-serve 5/10 KR: Revenue of 250K 5/10 OKR Confidence
- 85. COMMUNICATION
- 86. “WHEN YOU ARE TIRED OF SAYING IT, THEY ARE STARTING TO HEAR IT” – JEFF WEINER
- 87. Objective: Establish clear value to distributers as a quality tea provider KR: Reorders at 85% 5/10 KR: 20% of reorders self-serve 5/10 KR: Revenue of 250K 5/10 Key Risk Factors: Need new self-serve system up in first month Priorities this week Next 4 weeks - Projects OKR Confidence Team Health: Distributor satisfaction Health: Org Health Yellow P1 P1 P1 Green Close deal with TLM Foods Team struggling with direction change # solid sales canidates in for interview Passive reorder notifications New self serve flow for distributors Metrics for distributors on tea sales Hire Customer service head New Order flow Monday
- 88. Restate that goal! It’s a conversation Objective: Establish clear value to distributers as a quality tea provider KR: Reorders at 85% 5/10 KR: 20% of reorders self-serve 5/10 KR: Revenue of 250K 5/10 Key Risk Factors: Need new self-serve system up in first month OKR Confidence
- 89. Do these efforts more us closer to the goal? Keep a backlog of ideas Experiment with what impacts the OKRs FIGHT! ARGUE! Priorities this week P1 P1 P1 Close deal with TLM Foods # solid sales canidates in for interview New Order flow
- 90. What are we doing next toward that goal? Make sure everyone know what’s happening Ask for help Track trains that never arrive Next 4 weeks - Projects Passive reorder notifications New self serve flow for distributors Metrics for distributors on tea sales Hire Customer service head
- 91. Is our goal hurting anything we care about? Team Health Code Health Customer Satisfaction Revenues Team Health: Distributor satisfaction Health: Org Health Yellow Green Team struggling with direction change
- 92. STATUS EMAILS
- 93. OKRS rewritten, reevaluated in every status
- 94. FRIDAYS
- 95. Restate the Goal in Wins • Engineering demos • Design shows • Sales brags • Customer service stories • Business Development crows • Everybody SHARES WINS TOWARDS GOAL
- 96. “WHEN YOU ARE TIRED OF SAYING IT, THEY ARE STARTING TO HEAR IT” – JEFF WEINER
- 98. Important Unimportant Urgent Not Urgent DO now! Drop itPLAN it Delegate
- 100. MAKE IT URGENT
- 101. PLAN
- 102. JUST DO IT
- 103. LIES!
- 104. MISSION Start here
- 105. Google to organize the world‘s information and make it universally accessible and useful
- 106. Amazon “to be Earth’s most customer- centric company, where customers can find and discover anything they might want to buy online, and endeavors to offer its customers the lowest possible prices”
- 107. Philz mission is to “Better Peoples Day.”
- 108. All Are • Short (or have a mini-version) • Clear • Inspirational • Memorable
- 110. SET YOUR OKRS WELL
- 111. Examples • Product is embraced by the marketplace • Platform delights developers and users • Become the community online for creatives
- 112. All Are • Short (or have a mini- version) • Clear • Inspirational • Memorable
- 113. Does your objective make you jump out of bed in the morning?
- 114. OBJECTIVE IS A MISSION FOR THREE MONTHS
- 115. GOOD KEY RESULTS
- 117. HOW DO YOU KNOW?
- 118. HOW DO I KNOW? Ratings? Sales? Reviews? Blog posts? Articles? Tweets? Likes?
- 119. RESULTS vs TASKS
- 120. O: Book is available and generating buzz • Kr: Publish book on amazon • Kr: Contact a PR person • Kr: Give a keynote on book topic
- 121. O: Book is available and generating buzz • Kr: Review copies out to beta customers and 100 influencers resulting in 5 reviews of 4< stars • Kr: Dec sales of 1K • Kr: 5 cold leads for talks/workshops from book
- 122. “WHAT GETS MEASURED, GETS MANAGED“ PETER DRUCKER
- 124. PREPARE TO FAIL
- 125. SAND- BAGGING
- 126. OVER REACHING
- 127. NO CADENCE
- 128. FAIL & LEARN
- 129. know your Mission set your Objectives choose your Actions learn from your Results
- 130. do MOAR
- 132. GOODBYE RATRACE
- 133. OBJECTIVE: BE FINANCIALLY STABLE, PRESERVE HEALTH DO WORK I LIKE.
- 134. KR: EARN 30K OVER THREE MONTHS DOING WORK I’D DO EVEN IF I WASN’T PAID
- 135. KR: HAVE A MANAGEABLE BUDGET TO PREDICT EXPANSES
- 136. KR: ZERO ACID REFLUX, ZERO BACK PAIN
- 138. HELLO, DREAMLIFE
- 139. Thanks to my awesome students in my Designer as Founder class. Especially An, Justin, and Jack for their lead roles. They were paid in pizza, just like a real startup.
- 140. Thank You @cwodtke www.cwodtke.com I coach teams and individuals to make dreams into realities. New Book coming soon! Get notified at alert.theexecutionerstale. com
- 141. Tips on OKRS • Set only 1 OKR for the company, unless you have multiple business lines. It’s about focus. • OKRs are not the only thing you do, they are the one thing you must do. Expect people to keep the ship running • Give yourself 3 months for an OKR. How bold is it if you can do it in a week? • Keep the metrics out of the • In the weekly check in, open with company OKR then do groups • OKRs cascade; set company OKRs, then groups/roles, and then individual’s. • Weekly OKR check in is a conversation. Be sure to discuss change in confidence, health metrics and priorities • Encourage employees to suggest company OKRs.Learn more: http://www.eleganthack.com/the-art-of-the-okr/
- 142. FUNDAMENTALS
- 143. MISSION Find your North Star
- 144. Google to organize the world‘s information and make it universally accessible and useful
- 145. Amazon “to be Earth’s most customer-centric company, where customers can find and discover anything they might want to buy online, and endeavors to
- 146. Philz mission is to “Better Peoples Day.”
- 147. Eatclub Bring Joy to Work through Food
- 148. All Are • Short (or have a mini- version) • Clear • Inspirational
- 150. WHAT’S YOUR MISSION?
- 151. SET YOUR OKRS WELL
- 152. Examples • Product is embraced by the marketplace • Platform delights developers and users • Become the community
- 153. All Are • Short (or have a mini- version) • Clear • Inspirational • Memorable
- 154. Does your objective make you jump out of bed in the morning?
- 155. Is it hard to do (but possible with effort) in one quarter?
- 156. GOOD KEY RESULTS
- 158. HOW DO YOU KNOW?
- 159. HOW DO I KNOW? Ratings? Sales? Reviews? Blog posts? Articles? Tweets? Likes?
- 160. RESULTS vs TASKS
- 161. O: Book is available and generating buzz • Kr: Publish book on amazon • Kr: Contact a PR person • Kr: Give a keynote on book topic
- 162. O: Book is available and generating buzz • Kr: Review copies out to beta customers and 100 influencers resulting in 5 reviews of 4< stars • Kr: Dec sales of 1K • Kr: 5 cold leads for talks/workshops from book
- 165. Rule of thumb for product OKRs KR 1: Revenue KR 2: Adoption or usage (users) Kr 3: Satisfaction
- 166. ARE MY GOALS DIFFICULT?But not impossible
- 168. PLANNING WITH OKRS
- 169. THE CONE OF UNCERTAINTY I can predict what will happen tomorrow I can guess about next month I’m lying to myself if I say I know what’s happening next year
- 171. 4 O, 3 KRS
- 172. O: POSITION BOOK IN MARKETPLACE Kr: book published digitally on amazon Kr: review copies out to beta customers and 100 influencers resulting in 5 reviews of 4< stars Q1 Q2 Q3 Q4O: EPIC BOOK ADOPTION O: OKR CONFERENCE O: SECOND BOOK IN MARKETPLACE
- 173. Act as if it were true Until it’s proven wrong Then adjust
- 174. COMMIT WEEKLY
- 175. Objective: Establish clear value to distributers as a quality tea provider KR: Reorders at 85% 5/10 KR: 20% of reorders self-serve 5/10 KR: Revenue of 250K 5/10 Key Risk Factors: Need new self-serve system up in first month Priorities this week Next 4 weeks - Projects OKR Confidence Team Health: Distributor satisfaction Health: Org Health Yellow P1 P1 P1 Green Close deal with TLM Foods Team struggling with direction change # solid sales canidates in for interview Passive reorder notifications New self serve flow for distributors Metrics for distributors on tea sales Hire Customer service head New Order flow Mondays each team lead shares: • Week’s Priorities ( to get help & make commitment) • Near term roadmap (heads up!) • OKR confidence • Key health indicators
- 176. SLOT IN EFFORTS TOWARD OBJECTIVE Keep a backlog of ideas Experiment with what impacts the OKRs Priorities this week P1 P1 P1 Close deal with TLM Foods # solid sales canidates in for interview New Order flow
- 177. HEADS UP Make sure everyone know what’s happening Ask for help Track trains that never arrive Next 4 weeks - Projects Passive reorder notifications New self serve flow for distributors Metrics for distributors on tea sales Hire Customer service head
- 178. IS CONFIDENCE UP OR DOWN? It’s a conversation Objective: Establish clear value to distributers as a quality tea provider KR: Reorders at 85% 5/10 KR: 20% of reorders self-serve 5/10 KR: Revenue of 250K 5/10 Key Risk Factors: Need new self-serve system up in first month OKR Confidence
- 179. Health Metrics Team Health Code Health Customer Satisfaction Revenues Team Health: Distributor satisfaction Health: Org Health Yellow Green Team struggling with direction change
- 180. PUSH VS PROTECT Team Health: Distributor satisfaction Health: Org Health Yellow Green Team struggling with direction change Objective: Establish clear value to distributers as a quality tea provider KR: Reorders at 85% 5/10 KR: 20% of reorders self-serve 5/10 KR: Revenue of 250K 5/10 Key Risk Factors: Need new self-serve system up in first month OKR Confidence
- 181. STATUS EMAILS
- 183. CELEBRATE
- 184. Who celebrates? • Engineering demos • Design shows • Sales brags • Customer service stories • Business Development crows • Everybody SHARES WINS
- 185. LEARN
- 186. SAY DO ] Why?
- 187. WHY?
- 188. “WHEN YOU ARE TIRED OF SAYING IT, THEY ARE STARTING TO HEAR IT”
- 189. HOW TO
- 190. ARE MY GOALS DIFFICULT?But not impossible
- 192. Timeline 2 weeks before the end of the quarter, your know how you’ve done with your OKRs
- 193. Timeline 2 weeks before the quarter, start setting OKRs
- 194. Timeline EoQ 1. Review OKRs, and call them 2. Write out accomplishments
- 195. Timeline B0Q 1. Gather company input 2. Execs set company goals 3. Teams set goals
- 196. Team goals • Pick as aspect of the company OKRs you can own • Make new OKRs from it
- 198. PERFORMANCE
- 199. Performance Reviews Don’t • Wait until he end of the year • Base them on OKR completion (leads to sandbagging) • Dawdle or procrastinate • Try to be a buddy Do • Have them quarterly • Have the employee write a 500 word essay on her accomplishments • Be quick, light and frequent • Be fact based • Be compassionate
- 202. Thanks to my awesome students in my Designer as Founder class. Especially An, Justin, and Jack for their lead roles. They were paid in pizza, just like a real startup.