TO OKR OR NOT OKR?
If you’re in the startup world you’ve no doubt heard endless whisperings around the concept of OKRs. Even though they originated within giant corporates they have become a super useful way for any business to set goals, measure those goals and basically smash the sh** out of productivity.
We decided to sit down and have a go at creating our own set of OKRs for this quarter and thought we might as well share our experience with the rest of the world.
What in the world are OKRs?
Andy Grove (President of Intel) is the guy who's credited with creating them in the 70’s. It spread across loads of tech companies with major players like Google, LinkedIn, Oracle and Twitter getting onboard.
In a nutshell, each OKR is made up of an objective with several key results that quantify whether you’ve achieved the objective or not. Many companies grade an OKR from 0-1 as a way of defining whether you hit it or not.
Some general thoughts on them
- Make them ambitious, you want to over reach your goals so be optimistic.
- Be transparent, everyone should be able to see any OKR created.
- Create them bottom up and top down. Everyone should feel part of the creation process if they are going to get any way to achieving them.
So how was it for us?
The heads of our main departments got together at Melodoo HQ and started to brainstorm what we felt would be the most beneficial goals to set for this quarter. We looked at goals mainly in tech, creative and strategy. We whittled them down to a couple for each department and then listed a bunch of key results that would help us to measure them.
Was this all worth it? in two words…hell yes! It wasn’t just the fact that we ended up with goals to work towards but the discussions that surrounded them. We learnt so much about each others roles, thinking processes, strengths and weaknesses. It aligned us in a very organic way and as the whole exercise was voluntary we felt empowered to achieve our goals for ourselves not just the company.
So we’ve bought a white board, written out our OKRs and stuck it on the wall. Having them in eye shot can only be a good thing and we’ve set March 29th as the day we get together to review Q1 and start to discuss our next set of OKRs for Q2.
So until then, peace out and feel free to share any relevant experiences you've had. After all, sharing is caring