Aspirational Objectives: they reflect bigger-picture, higher-risk, more future-tilting ideas. Guidelines lists 31 rules (or guidelines) that you should follow to improve your productivity, become a better leader, do better in business, improve your health, succeed in life and become a happier person. In other words, a healthy OKR environment strikes a balance between alignment and autonomy, common purpose and creative latitude. Just make sure you notify everyone depending on it and reflect on what you’ve learned. Failures – at an average rate of 40 percent – are part of this territory. Most of all, they are measurable and verifiable. I will add a caveat here— there seems to be many ways to implement these within organizations. If our objective is to colonize Mars, our key results might be ‘Land and re-launch a reusable rocket by July 2017’, and ‘Transport an astronaut to the space station by September 2018’. Our Business Book Club read this and met about it in October 2018. If that’s on track, she can turn her attention to the aspirational key result and stretch for higher academic achievement. OKRs help founders focus on product, strategy, and team management, the big-picture objectives. Guidelines is my eBook that summarises the main lessons from 33 of the best-selling self-help books in one place. Management sets them at the company level, employees at the departmental level. An effective OKR system links goals to a team’s broader mission, lending purpose, alignment, clarity, and job satisfaction to the entire organisation. You don’t push toward a goal just because the boss gave you an order. At quarter’s end (or worse, year’s end), we’re left with on-paper, zombie OKRs devoid of meaning. Was it motivating? CFRs help ensure that those priorities and insights get transmitted. Walk from Vancouver to Calgary by June 1. The first half of the book is about OKRs themselves. Tie recognition to company goals and strategies. Feel free to end an obsolete Key Result or Objective midstream. leaders of an organization to figure out the right goals and approach for their teams SUMMARY. Recognition: expressions of appreciation to deserving individuals for contributions of all sizes. Summary of Measure What Matters. OKRs have 4 superpowers: 1. focus & commit to priorities, 2. align & connect for teamwork, 3. track for accountability, and 4. stretch for amazing. An effective OKR system links goals to a team’s broader mission, alignment, and clarity to the entire organisation. Institute peer-to-peer recognition. People crave to know how they’re progressing and see it visually represented, down to the percentage point. It’s a book for managers who want to lead their teams better & scale, as well as for entrepreneurs who seek the right metrics to grow their business. Intel was Grove’s laboratory for management innovation. Finally, objective grading, continuous reassessment, and reflection will help you reveal information hidden inside the numbers that you couldn’t reveal otherwise. Leaders are forced to ask the following question: What type of company do we need to be in the coming year? Measure What Matters by John Doerr helped me realize that maybe I don’t know what my goals are, and maybe I’m not ready for an intense OKR process just yet. In Measure What Matters, John Doerr refers to ‘alignment’ as one of the ‘OKR superpowers’. OKRs within organizations are typically implemented in a waterfall fashion, set at the executive level and then spilling down to the next level, and the next, all the way down to the front-line employees. These committed objectives (sales & revenue goals) are to be achieved in full (100 percent) within a set time frame. Measure what matters 1. A few days after getting hired, I received a coveted invitation to Intel’s Organization, Philosophy, and Economics course, known as iOPEC, a seminar on Intel strategy and operations. This powerful system is about to transform everything you know about productivity. When employee achievements are consistently recognized by peers, a culture of gratitude is born. One Paragraph Summary In his book Measure What Matters, John Doerr teaches us everything we need to know about OKRs—Objectives and Key Results.OKRs will allow you to track and align your goals within your business, small or large. He is the author of Measure What Matters, a book about OKRs that led Google & Intel to massive success. Committed Objectives: they are tied to Google’s metrics, such as product releases, bookings, hiring, customers. OKRs offer visibility and enable pushing back while staying fruitful. 5 min read. He serves on the board of the O… Let’s see how this can be achieved! If a conversation is limited to whether you’ve achieved the goal or not, you lose context. Objective: Employee willingness to recommend rate >90%. Eric Schmidt credits OKRs with “changing the course of the company forever.”, “It is our choices . Continuous performance management is implemented with CFR: Conversations, Feedback, Recognition. He serves on the board of the Obama Foundation and ONE.org. Measure What Matters reinforces the need for bidirectional goal setting, and states that “high-functioning teams thrive on a creative tension between top-down and bottom-up goal setting,” based on dual cadence OKRs — annual for the company and quarterly for the teams. Effective KRs are specific and time-bound, aggressive yet realistic. ”Measure What Matters” by @johndoerr is by far the best book on strategic planning I have ever read as an entrepreneur. In other words, you either meet a Key Result’s requirements or you don’t; there is no gray area. For superior performance, top-line goals must be clearly understood throughout the organisation. Only a transparent, collaborative, aligned, and connected organisation can achieve so far beyond the norm. Aspirational goals draw on every OKR superpower: We can learn a lot from Google: they divide their OKRs into two categories. To summarize John Doerr’s key points on OKRs, he points to 4-key values, or ‘OKR superpowers’. Part 2 of the book (chapters 15 to 21), explores how continuous performance management and culture complement OKRs to drive high performance. Measure What Matters by John Doerr is a guide to introducing and using Objectives and Key Results (OKRs) in organizations, interspersed with interviews with successful people who have used OKRs to great effect.. to push organisations to new heights. Here are some ways to implement it: To sum up, OKRs are clear vessels for leaders’ priorities and insights. In his 2018 book, Measure What Matters, John Doerr—an early investor in Google—details how OKRs have helped some of the most innovative people and companies focus, scale, and thrive. Good key results are specific, time-bound, and measurable. OKRs have helped Google accomplish 10-times growth several times and made it possible for Google to arrange information all over the globe. Newsletters or company blogs can supply the narrative behind the accomplishment, giving recognition more meaning. Measure What Matters: How Google, Bono, and the Gates Foundation Rock the World with OKRsteaches organizations and individuals how to implement a similar process by a different name. Measure what matters summary. Access a free review of Measure What Matters, by John Doerr and 20,000 other business, leadership and nonfiction books on getAbstract. In larger organisations, it’s common to find several people unwittingly working on the same thing. Every process requires trial and error. How to craft them and track them over time. He loved to teach, and the company reaped the benefits. Finally, to inspire true commitment, leaders must practice what they teach; they must model the behaviour they expect of others by committing to OKRs publicly and visibly. For smaller, fast-growing startups, OKRs help founders keep firing themselves from jobs they did in the beginning. You do it because every OKR is transparently important to the company and to the colleagues who count on you. An OKR culture is an accountable culture. Successful organisations focus on the initiatives that can make a real difference, deferring less urgent ones. When the dust settles after an OKR cycle, every person in the boat should be rowing in the same direction. CONTINUOUS PERFORMANCE MANAGEMENT & CULTURE. Measure What Matters tells the lifelong journey of venture capitalist and American investor, John Doerr, as he transformed organizations through his method of key objectives known as OKRs. Agile and daring, to crack a new market – or more conservative and operational, to firm up our existing position? Measure What Matters is about using Objectives and Key Results (OKRs), a revolutionary approach to goal-setting, to make tough choices in business. Dare to fail. In Adobe, individuals want to know how they’re doing while they’re doing it, and also what they need to do differently. They want to discuss their goals on a regular basis, share them with others, and track progress from peers. Goals cannot be attained without a medium: an organisation’s culture. The challenge is knowing which ones.”. Walk from Toronto to Halifax by August 1. Objective: Gain a world-class education in chemical engineering. This system has been used by countless successful companies to direct efforts and grow over the long-term. You can find all my book summaries — here. OKRs ensure that a company focuses its efforts on the same important issues throughout the organisation. Objectives point us in the direction we want to go. Good OKRs: Though they feel indispensable for massive organizations, they also seem relevant to small organizations and individuals. Starting with a modest stretch, over time teams and individuals gain experience with OKRs, and their Key Results become more precise and more aggressive. Goal setting and reflection. For example, Benevity experimented with the above approach in year 1, but in year 2 is leaving the OKRs at the leadership team level only, rather than cascading them down. A three-month horizon curbs procrastination, boosts focus, and leads to real performance gains. Measure What Matters—How Google, Bono, and the Gates Foundation Rock the World with OKRs A book by John Doerr. Visit the book’s website for additional resources. Set goals from the bottom up. Individuals cannot be reduced to numbers. tags: goal-setting. How to Respond to Unwanted Sexualized Comments in the Workplace, Before You Quit That Awesome Thing, Listen to This, 5 Truths Learned From Working a 9–5 in a Global Pandemic, Networking 101 — It’s Not Just About Who You Know, Nightmare: Surviving and Thriving in a Negative Workplace, Maximizing Your Potential — How to Deal With Imposter Syndrome. Many companies use these at an organizational level, including Google .In the Google model, there are two types of OKRs— committed and aspirational. The expected score for these OKRs is 1.0 (100%). OKRs have helped Google accomplish 10-times growth several times and made it possible for Google to arrange information all over the globe. Culture is “a set of values and beliefs, as well as familiarity with the way things are done and should be done in a company.”. OKRs offer visibility and enable pushing back while staying fruitful. His secret: the really good execution of OKRs. John Doerr is an American investor and venture capitalist at Kleiner Perkins. OKRs offer visibility and enable pushing back while staying fruitful. Along the way, OKRs enhance workplace satisfaction and boost retention. Leaders must convey two things: the importance of the outcome, and the belief that it’s attainable. It’s a book for managers who want to lead their teams better & scale, as well as for entrepreneurs who seek the right metrics to grow their business. By standing firmly behind a few top-line OKRs, they give their teams a compass and a baseline for assessment. Good objectives are ambitious and should make us feel somewhat uncomfortable. The revolutionary movement behind the explosive growth of Intel, Google, Amazon and Uber. When people see how their goals are connected with their colleagues’ goals, they can contribute more meaningfully to the company’s success and see the overall consequences of their actions. Stay flexible. “Organise the world’s information and make it universally accessible and useful.”, This was Google’s initial mission, when they started with Search. While OKRs work well in a personal context, as above, they are more often applied in organizations. 1 likes. Tracking OKRs can stop you from persisting in the wrong direction. 92 percent of the US working adults said they’d be more motivated to reach their goals if colleagues could see their progress. The discussion focuses on how best to align individual Objectives and Key Results with organisational priorities. They then cascade down, so that the Key Results of the leadership team become the Objectives of their direct reports, etc, all the way down to the front-line employees. For 2019, his net worth increased up to $7.7 billion, being the 215th in the Billionaires 2019 list. Key Results are how we get there. If an Objective no longer seems practical or relevant as written, Key Results can be modified or even discarded mid-cycle. The author suggests that quarterly OKRs are best suited to keep pace with today’s fast-changing markets. Hail smaller accomplishments, too: that extra effort to meet a deadline, that special polish on a proposal, the little things a manager might take for granted. 75% of customers prefer Zume to competitor in blind taste test. By definition, they are challenging to achieve. 1-Sentence-Summary: Measure What Matters teaches you how to implement tracking systems into your company and life that will help you record your progress, stay accountable, and make reaching your goals almost inevitable. Customer service, innovation, teamwork, cost cutting – any organisational priority can be supported by a timely shout-out. Measure What Matters explores a management system based on Objectives and Key Results (or OKRs for short). Objectives p o int us in the direction … Should we double down on the two or three things that really worked for us last quarter, or is it time to consider a pivot? (I presented my synopsis of this book at the July First Friday Book Synopsis in Dallas). Notes and discussion topics from our book club about Measure What Matters. Periodic check-ins – preferably weekly – are essential, too. Share recognition stories. Full title: Measure What Matters: How Google, Bono, and the Gates Foundation Rock the World with OKRs . Essentially, the CEO and leadership team set the company-level OKRs. Committed OKRs are agreed upon goals that we will achieve. Or preview the book summary via our blog! An Objective is simply WHAT is to be achieved. They typically include hard numbers for one or more gauges: revenue, growth, active users, quality, safety, market share, customer engagement. Lightweight performance reviews. Likewise, without frequent status updates, goals become irrelevant. 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