Are you ready to take your goals and aspirations to the next level?
Then you'll want to read John Doerr's “Measure What Matters“. This powerful book delves into the OKR (Objective and Key Results) goal-setting system that has been adopted by companies like Intel, Google, and startups like MyFitnessPal and Zoom.
In fact, over 80,000 employees use this system daily and even Bono has praised its effectiveness as a tool to “hang your passion on”.
Discover the secret to success as Doerr shares the THREE key ingredients that make OKRs work. With practical insights and real-world examples, “Measure What Matters” is a must-read for anyone looking to unleash their full potential and achieve their biggest dreams.
Get ready to make a change and take control of your future!
OKR Ingredient #1: An Audacious Objective
Setting big, audacious goals is key to success, according to John Doerr's OKR system.
This idea is backed by the likes of James Cameron, director of Avatar and Titanic, who encourages setting “ridiculously high” goals, even if they may not be fully achieved. This approach not only helps you strive for excellence, but it also allows you to learn valuable skills and make progress towards your goals.
Doerr suggests considering what you would want to change in the world if you had unlimited resources or what you would like to be the best in the world at. Then, scale back the goal to be one step short of the impossible.
This makes your objective both big and believable, which is key to setting a goal that motivates and challenges you to grow.
The Gates Foundation's example of adjusting its goal to eradicate malaria by 2040 from an initial goal of doing so by 2015 is a great example of how to create an objective that is both big and achievable.
As you embark on your OKR journey, remember to start by creating a big, audacious objective that captures your imagination and drives you to success.
OKR Ingredient #2: Quality and Quantity Key Results
In the OKR system, objectives and key results are two distinct yet interrelated components.
Objectives are the big-picture, inspiring goals that you want to achieve.
Key results are the more specific, metric-driven actions that help you reach those objectives. To be effective, key results should be quantifiable and measurable, and they should reflect both quality and quantity.
Doerr uses the example of trying to win the Indy 500 to illustrate the difference between weak, average, and strong key results.
For instance, WEAK key results might be increased lap speed and reduced pitstop time, while STRONG key results would be more ambitious versions of these metrics.
The idea is to strike a balance between quality and quantity to ensure that you're making progress without sacrificing the things that matter most.
OKR Ingredient #3: The Power of Color-Coded Check-Ins
The color-coding system, also known as the OKR traffic light, is an integral part of the OKR goal-setting method, and it has the power to bring your progress toward your objectives into clear focus. It involves labeling your key results as green, yellow, or red based on their progress toward the goal.
- A green label means that your key result is 70-100% complete and on track to achieving your objective.
- Yellow indicates that your progress is between 30-70% and that a recovery plan is needed to get back on track.
- Finally, a red label means that progress is 0-30% and a recovery plan or replacement goal is necessary.
Consistent green key results may indicate that the goals are not challenging enough and should be adjusted accordingly.
The color-coding system was used by Bono, the lead singer of U2 and the founder of the ONE foundation, to improve the efficiency and effectiveness of their board meetings.
By using this system, they were able to assess their progress toward their key goals in a simple and easy-to-understand way.
Putting the OKR System into Practice
If you're looking to achieve success in your personal or professional life, you can use the OKR system to help you reach your goals.
To put this system into practice:
- Define your objective: Think about what you want to achieve, and turn it into an inspiring and audacious objective.
- Create key results: Break down your objective into 3-5 key results that can be measured. Make sure to include both quality and quantity metrics.
- Set a timeline: Decide on a timeline for checking in on your progress. This could be weekly, monthly, or quarterly.
- Evaluate progress: At the end of each check-in period, assess your progress toward each key result and assign a color based on the OKR color-coding system.
- Make adjustments: If all of your key results are consistently green, consider adjusting their difficulty to create a mix of green and yellow results. Review your progress regularly and make changes to your strategy as needed to stay on track.
- Celebrate success: Don't forget to celebrate your achievements and set new challenging goals for continued growth and success.
Conclusion
In conclusion, John Doerr's “Measure What Matters” is a must-read for anyone looking to unleash success in their personal and professional life.
The OKR framework provides a roadmap for setting and achieving audacious goals through a clear focus on objectives and key results.
By breaking down big goals into smaller, measurable actions, the OKR system can help you stay on track and achieve greater success.