Max Mednik
  • Home
  • About
  • Interests
    • Angel investing
    • Magic
    • Scuba Diving
  • Blog
  • Contact

Readings and musings

Notes on Measure What Matters by John Doerr

7/23/2019

0 Comments

 
Picture
A good friend and fellow entrepreneur recommended to me Measure What Matters by John Doerr, and I recently finished reading it. I thought it was a very comprehensive and helpful overview of implementing Objectives and Key Results (OKRs) in a company from the ground up.

It reminded me a lot of the books Work Rules by Laszlo Bock and How Google Works by Eric Schmidt, which I read previously and also enjoyed.

Measure What Matters was consistent with what I saw and experienced first hand with OKRs during my time at Google. I didn't know the history of OKRs and how Andy Grove really built up the foundations behind the methodology at Intel, so that was nice to learn. I also enjoyed a lot of the varied stories and examples of how diverse groups and companies (including rock bands and foundations) have implemented OKRs successfully and the positive impact on their culture.

Below are my notes and major takeaways from the book, which I highly recommend. I look forward to implementing these processes at Epirus.

Part 1: okrs in action

1 google meet okrs
If you don’t know where you’re going, you might never get there (yogi Berra)
Ideas are easy. Execution is everything. 
Objectives and key results
Objective is what is to be achieved. Simple, action oriented, inspirational. 
Key results monitor progress to that. Objective, numerical, aggressive but realistic. Measurable. Verifiable. Binary as to if met it or not.
Quarterly updating. Objectives can last a year but KRs evolve each quarter based on progress to objective
Snippets: short weekly individual updates on progress towards OKRs
Companion website to book: whatmatters.com

2 the father of OKRs
Objective is direction/goal
Key result is metric and milestone. 100% objective and numerical. Zero judgment and very easy to know if achieved or not.
Bottom up, sideways
Transparent. Everyone can see everyone’s OKRs.
Not tied to comp
Aggressive and aspirational
Less is more. 3-5 Os per cycle. 3-5 key results per O.
From the bottom
No dictating
Can be flexible mid-cycle
Dare to fail. OK if don’t achieve everything. Aspirational. Stretch goals. 
A tool not a weapon. Not legal document on which to base performance review. 
Be patient. Need 4-5 quarters to really internalize in an org. 

3 operation crush
Focus
Alignment
Tracking
Stretching

4 superpower 1: focus and commit to priorities
Pair key results that are objective/numerical with quality goals
Pair quantity goals with quality goals
Put more wood behind fewer arrows 

5 focus

6 commit
Need executive team buy-in

7 superpower 2 align and connect for teamwork
Switch to open/transparent
Key results can be cascaded down to each lower level as objectives
Can also skip levels or do bottom up
Top OKRs known but rest are bottom up and market-based
Mix of top down and bottom up goals half and half

8 align
OKRs can create networks

9 connect

10 superpower 3 track for accountability
Setup phase
OKR management platform
Shepherds
Weekly checkins
Scoring
0-1 scale for each
0.7-1 is green
0.4-0.6 is yellow
0-0.3 is red
0.7 green shows goals should be ambitious/stretch
Operational goals must be 1.0 or else deemed a failure/red
Self-assessments objective and subjective
We do not learn from experience. We learn from reflecting on experience. 
Retrospective and prospective

11 track
Gates foundation

12 superpower 4: stretch for amazing
Big hairy audacious goals
If companies don’t innovate, they will die. Innovate not iterate. 
Entrepreneurs are those that do more with less than others think is possible. Bureaucrats do less with more than others think is possible. 
Aspirational stretch goals
Committed vs aspirational objectives
Committed ones are related to products, hiring, sales, operations. They must be achieved 100%.
Aspirational are stretch and more than you think is possible. Higher risk. 
Balance between the two varies by quarter and by company
Incentivizing salespeople with Tahiti trip for 2 for meeting stretch goal and any stragglers would cause their entire office to lose the trip
Gospel of 10X by Larry page

13 stretch
Uncomfortably excited
A healthy disregard for the impossible

14 stretch
Big rocks, pebbles, and sand theory of time management

Part 2 the new world of work

15 continuous performance management 
Annual reviews at the end of the year suboptimal
CFRs: conversations, feedback, and recognition
Regular 1:1s mandatory
Objective: mutual teaching
Should be regarded as the subordinate’s meeting with agenda set by him
Supervisor just facilitates discussion of tough issues and struggles of subordinate
Doubts
Gnawing problems 
5 critical areas of conversation
Goal setting and reflection
Ongoing progress updates
What’s working well and not
Two way coaching
Career growth
Lightweight performance reviews
Held apart from annual compensation review
Feedback
Are these the right things to focus on?
Do you have any feedback on how we could stretch even more?
Needs to be specific
You started the meeting late last week and it came off as disorganized 
You did a great job at your presentation with a strong opening story and closing with next steps
What do you need from me to be successful 
Anonymous rating and suggestion tools
Recognition
Crowdsources meritocracy
Continuous recognition
Saying thank you in small ways
Institute peer to peer recognition
Friday closing meeting ends with shout outs unsolicited
Hail small achievements and extra efforts too

16 ditching annual reviews
Regular check-ins throughout the year
Feedback frequent and untied to annual bonuses
Annual bonuses decided by manager based on performance and various things but disjoint for feedback session

17 getting better every day
Liquidplanner project management software
“My KR is at risk” is a way of communicating and getting attention
Periodic Check ins where discussing work isn’t allowed and focus is on individual and career
What makes you very happy
What saps your energy
How would you describe your dream job
Expectations
Always tell the truth
Always do the right thing
This goal seems very important to you, but you didn’t make much progress on it over the past couple weeks. Why is that?
Best idea wins culture. Can call out anyone including CEO.

18 culture
Culture eats strategy for breakfast
Creates efficiency since everyone on the same page
Values, objectives, and methods
Can spell them out and can exemplify them
Pulsing: online quick surveys for health of culture
Weekly or monthly or ongoing drip campaign
Monitoring Glassdoor 

19 culture change
Selling your reds: handing off at risk goals to another group to take on as team. I’m here, let me help you.

20 culture change. Bono. 

21 the goals to come
Whatmatters.com
John@whatmatters.com
Bill Campbell coach
Get better everyday 

Resource 1 google OKR playbook
Objectives are the what’s. Key results are the hows. 
Key results must describe outcomes and effects on stakeholders, not activities
Cross team OKRs must be listed on each team’s OKRs
Committed vs. aspirational
Committed expected score 1
Aspirational expected score 0.7
Don’t write business as usual or timid aspirational OKRs
Don’t sandbag. Should consume more than available resources. 
Don’t do low value objectives. Who cares?
Escalating is required when committed OKRs at risk
Aspirational OKRs are what you spend time on after committed ones done. OK to move quarter to quarter when not completed. 
Metrics unambiguous
Crisp and short lines
Focus on end impact like improving sign ups 25%

Resource 2 OKR cycle graphic
Whatmatters.com/okrcycle

Resource 3 performance conversations
What OKRs will you focus on?
How is progress going towards your OKRs?
Anything stopping you from obtaining your objectives?
What part your job excites you? What part of your role would you like to change?
What are you getting from me that’s helpful? What are you getting from me that impedes your effectiveness?
What skills or capabilities would you like to develop in your current role? For a future role?

Resource 4 the book in sum
Quarterly and annual OKRs
First roll out to upper management then to individuals
Designate an OKR shepherd
Pick 3-5 top objectives
For each O, pick no more than 5 time-bound measurable key results
Pair qualitative and quantitative key results for quality control
Half of OKRs bottom up
Weekly 1:1 OKR meetings with managers and monthly departmental meetings
Grade past OKRs at each cycle end
Invest in cloud based platform
Stretch for amazing BHAG
Committed OKRs too
Gospel of 10X
Continuous performance management
Ongoing CFRs
Allow contributor to set agenda of 1:1
Anonymous pulse surveys
Peer recognition
Importance of cultural values

Resource 5 further reading
High output management
Andy grove: Life and times of an American
Intel trinity
Radical candor
In the plex, how google works, work rules
Radical focus (short book on OKRs)
Book “how” by Dov
0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    Archives

    June 2021
    May 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    April 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    May 2019
    March 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    February 2018
    January 2018
    November 2017
    October 2017
    September 2017
    May 2017
    April 2017
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    September 2013
    August 2013
    July 2013
    June 2013
    May 2013
    April 2013
    March 2013
    February 2013
    January 2013
    December 2012
    November 2012
    October 2012
    September 2012
    August 2012
    July 2012
    June 2012
    May 2012
    April 2012
    March 2012
    February 2012
    January 2012
    December 2011
    November 2011
    October 2011
    September 2011
    August 2011
    July 2011
    June 2011
    May 2011
    April 2011
    March 2011
    February 2011
    January 2011
    December 2010
    November 2010
    October 2010
    September 2010
    August 2010
    July 2010
    June 2010
    May 2010
    April 2010
    March 2010
    February 2010

    Categories

    All
    Angel Investing
    Cacti
    Cars
    China
    Community Service
    Culture
    Design
    Djing
    Dogs
    Education
    Entertainment
    Entrepreneurship
    Family
    Finance
    Food
    Google
    Happiness
    Incentives
    Investment Banking
    Judaism
    Law
    Lighting
    Magic
    Marketing
    Medicine
    Networking
    Nolabound
    Philosophy
    Professionalism
    Psychology
    Reading
    Real Estate
    Religion
    Romance
    Sales
    Science
    Shangri-La
    Social Entrepreneurship
    Social Media
    Sports
    Teams
    Technology
    Travel
    Turtles
    Ucla
    Venture Capital
    Web Services
    Weddings
    Zen

    Subscribe

    RSS Feed

Picture
Picture
  • Home
  • About
  • Interests
    • Angel investing
    • Magic
    • Scuba Diving
  • Blog
  • Contact