warm gun: accomplish big goals with objectives & key results
DESCRIPTION
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.TRANSCRIPT
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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…
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Don’t get sued
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Once upon a time there was a start-up.
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Hanna
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Jack
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Restaurant Suppliers
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Restaurant Suppliers?
Hell no
Let’s talk to Jim
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Jim Let me tell you a story
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“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?”
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Gordon answered without hesitation,
“He would get us out of memories.”
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“Why shouldn’t you and I walk out the door, come back and do it
ourselves?” Andy Grove
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Jim “let’s pretend we’ve already decided”
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Hire a sales guy? Change the
website…
Hire a sales team.
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Restaurant Suppliers! Restaurant Suppliers!
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But wait, there’s more!
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OKRs Objectives and Key Results
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OKRs
Objectives
Key results
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OKRs
O: Dream
KR: Success criteria
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“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.”
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OKRs
O: Qualitative
Shoot for the moon dream
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Objective: Establish epic value to Northern California Restaurant Suppliers as the best tea provider
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OKRs
KR: Quantitative
“How do we know we met the objective?
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KR: Hire a sales guy KR: redo the website KR: Place ads in Restaurant supply magazines
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Jim
Those are tasks. Not results.
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KR: Reorders at 85% KR: 20% of reorders self-serve KR: Revenue of 250K
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Jim You want flexibility in the how, not the what.
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Your turn! Objective:
KR
KR
KR
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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?
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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%
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Team reluctantly agrees
Hell no
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Team Wiffed ALL
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I want you to meet…
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Raphael
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You’re doing it WRONG
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FOCUS
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objective
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UNITES EFFORTS
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Key Results
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DEFINES SUCCESS
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IT’S NOT EVERYTHING
YOU DO
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IT’S WHAT YOU HAVE TO DO
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CADENCE
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Commitment
Mondays are for promises
Fridays are for winners
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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
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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!
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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!
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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!
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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
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DEDICATION TO YOUR GOALS
TO YOUR TEAM
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Fridays are for Wins & Wine
(or beer)
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Engineering demos
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Engineering demos Design demos
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Engineering demos Design demos
Sales & Bizdev shares wins
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Engineering demos Design demos
Sales & Bizdev shares wins Beer
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Everybody needs bragging time
• Motivates team to have something to share
• Makes you feel like part of something special
• Show progress
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Back to the Team
We’re doomed
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You didn't make your
OKRs…
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"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"
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Hold on! Most companies fail the first time they try OKRs
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It’s OK. We’re trying
again… but this time
One OKR for quarter
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One OKR for quarter Weekly check-ins
It’s OK. We’re trying
again… but this time
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It’s OK. We’re trying
again… but this time One OKR for quarter
Weekly check-ins Friday Celebrations
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Team made 2 of 3 KRs!
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Metrics are growing!
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Series A
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Happily ever after?
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BUT WAIT THERE’S MORE
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GOODBYE RATRACE
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OBJECTIVE: BE
FINANCIALLY
STABLE, PRESERVE
HEALTH
DO WORK I LIKE.
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KR: EARN 30K
OVER THREE
MONTHS DOING
WORK I’D DO EVEN
IF I WASN’T PAID
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KR: HAVE A
MANAGEABLE
BUDGET TO
PREDICT
EXPANSES
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KR: ZERO ACID
REFLUX, ZERO
BACK PAIN
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HELLO, DREAMLIFE
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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. As Harry Max for not suing me when I use his picture.
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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
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WHY CAN’T WE GET THINGS
DONE?
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RADICAL FOCUS
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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%
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Objective: Establish epic value to Northern California Restaurant Suppliers as the best tea provider
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Wait! We can’t just forget about RevenueCodeHealthCustoemrSatisfactionSalesHiring
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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
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COMMUNICATION
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“WHEN YOU ARE TIRED OF SAYING IT, THEY ARE STARTING TO HEAR IT”
– JEFF WEINER
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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
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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
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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
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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
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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
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STATUS EMAILS
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OKRS rewritten, reevaluated in
every status
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FRIDAYS
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Restate the Goal in Wins
• Engineering demos
• Design shows
• Sales brags
• Customer service stories
• Business Development crows
• Everybody SHARES WINS TOWARDS GOAL
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“WHEN YOU ARE TIRED OF SAYING IT, THEY ARE STARTING TO HEAR IT”
– JEFF WEINER
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Important Unimportant
Urgent
Not Urgent
DO now!
Drop it PLAN it
Delegate
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TOMORROW NEVER COMES
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MAKE IT URGENT
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PLAN
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JUST DO IT
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LIES!
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MISSION
Start here
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to organize the world‘s information and make it universally accessible and useful
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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”
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Philz mission is to “Better Peoples Day.”
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All Are
• Short (or have a mini-version)
• Clear
• Inspirational
• Memorable
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SET YOUR OKRS WELL
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Examples
• Product is embraced by the marketplace
• Platform delights developers and users
• Become the community online for creatives
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All Are
• Short (or have a mini-version)
• Clear
• Inspirational
• Memorable
• Time bound
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Does your objective make you jump out of bed in the morning?
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OBJECTIVE IS A MISSION FOR
THREE MONTHS
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GOOD KEY RESULTS
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HOW DO YOU KNOW?
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HOW DO I KNOW?
Ratings?
Sales?
Reviews?
Blog posts?
Articles?
Tweets?
Likes?
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RESULTS vs TASKS
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O: Book is available and generating buzz
• Kr: Publish book on amazon
• Kr: Contact a PR person
• Kr: Give a keynote on book topic
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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
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“WHAT GETS MEASURED, GETS
MANAGED“ PETER DRUCKER
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PREPARE TO FAIL
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SAND-BAGGING
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OVER REACHING
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NO CADENCE
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FAIL & LEARN
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know your Mission set your Objectives
choose your Actions learn from your Results
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do MOAR
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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 objective. The objective is inspirational.
• 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.
• Friday celebrations is an antidote to Monday’s grim business. Keep it upbeat!
Learn more: http://www.eleganthack.com/the-art-of-the-okr/
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FUNDAMENTALS
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MISSION
Find your North Star
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to organize the world‘s information and make it universally accessible and useful
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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”
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Philz mission is to “Better Peoples Day.”
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Eatclub
Bring Joy to Work through Food
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All Are
•Short (or have a mini-version)
•Clear
• Inspirational
•Memorable
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WHAT’S YOUR MISSION?
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SET YOUR OKRS WELL
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Examples
• Product is embraced by the marketplace
• Platform delights developers and users
• Become the community online for creatives
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All Are
• Short (or have a mini-version)
• Clear
• Inspirational
• Memorable
• Time bound
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Does your objective make you jump out of bed in the morning?
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Is it hard to do (but possible with effort) in one quarter?
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GOOD KEY RESULTS
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HOW DO YOU KNOW?
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HOW DO I KNOW?
Ratings?
Sales?
Reviews?
Blog posts?
Articles?
Tweets?
Likes?
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RESULTS vs TASKS
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O: Book is available and generating buzz
• Kr: Publish book on amazon
• Kr: Contact a PR person
• Kr: Give a keynote on book topic
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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
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“WHAT GETS MEASURED, GETS
MANAGED“ PETER DRUCKER
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Rule of thumb for product OKRs
KR 1: Revenue
KR 2: Adoption or usage (users)
Kr 3: Satisfaction
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ARE MY GOALS DIFFICULT?
But not impossible
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PLANNING WITH OKRS
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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
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4 O, 3 KRS
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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 Kr: Dec sales of 1K
Q1 Q2 Q3 Q4 O: EPIC BOOK ADOPTION
O: OKR CONFERENCE
O: SECOND BOOK IN MARKETPLACE
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Act as if it were true
Until it’s proven wrong
Then adjust
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COMMIT WEEKLY
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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
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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
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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
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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
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Health Metrics
Team Health
Code Health
Customer Satisfaction
Revenues
Team Health:
Distributor satisfaction Health:
Org Health Yellow
Green
Team struggling with direction change
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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
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STATUS EMAILS
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CELEBRATE
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Who celebrates?
• Engineering demos
• Design shows
• Sales brags
• Customer service stories
• Business Development crows
• Everybody SHARES WINS
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LEARN
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SAY DO
]
Why?
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WHY?
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“WHEN YOU ARE TIRED OF SAYING IT, THEY ARE STARTING
TO HEAR IT” – JEFF WEINER
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HOW TO
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ARE MY GOALS DIFFICULT?
But not impossible
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Timeline
2 weeks before the end of the quarter, your know how you’ve done with your OKRs
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Timeline
2 weeks before the quarter, start setting OKRs
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Timeline EoQ
1. Review OKRs, and call them
2. Write out accomplishments
3. Reviews and Bonuses
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Timeline B0Q
1. Gather company input
2. Execs set company goals
3. Teams set goals
4. Individuals set goals
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Team goals
•Pick as aspect of the company OKRs you can own
•Make new OKRs from it
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PERFORMANCE
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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
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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. As Harry Max for not suing me when I use his picture.