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Matt Lerner Matt Lerner is an Influencer

Startup growth strategist, Ex PayPal, 500 Startups VC, Founder @ SYSTM

OKR season doesn't have to suck. End your OKR debates with these 6 maxims. First, don't blame the tool. OKRs don't cause problems, they merely highlight them. If everyone has a clear understanding of the business and their role, OKRs should write themselves. If not...focus on the root cause. Use these six precepts to bottom out OKR debates: 1. ๐—ง๐—ต๐—ฒ ๐Ÿต๐Ÿฌ/๐Ÿญ๐Ÿฌ ๐—ฟ๐˜‚๐—น๐—ฒ - Assume 90% of your results will come from 10% of the stuff you try, and focus on the 10% that can be huge. Literally, calculate, "If it works, how big can this be?" At PayPal, Peter Thiel gave each person one project and refused to discuss anything else with them. 2. ๐—ž๐—ฅ๐˜€ ๐˜๐—ฟ๐—ฎ๐—ฐ๐—ธ ๐—ผ๐˜‚๐˜๐—ฐ๐—ผ๐—บ๐—ฒ๐˜€ - Key Results are ๐˜ณ๐˜ฆ๐˜ด๐˜ถ๐˜ญ๐˜ต๐˜ด (e.g. # of qualified leads), not work units (e.g. # of meetings booked). Hold your team accountable for the results they achieve, and give them the freedom to figure out the best way to get there. As Steve Jobs said, โ€œWe don't hire smart people and tell them what to do. We hire smart people so they can tell us what to do.โ€ 3. ๐—›๐—ฒ๐—ฟ๐—ฑ๐—ถ๐—ป๐—ด ๐—–๐—ฎ๐˜๐˜€ - If teams are pulling in different directions, ask them each to connect their main KRs to your North Star metric (e.g. monthly active users). When everyone's solving for the same ultimate outcome, it's easier to prioritise work across different teams. 4. ๐— ๐—ฎ๐—ป๐—ฎ๐—ด๐—ถ๐—ป๐—ด ๐˜๐—ต๐—ฒ ๐—”๐——๐—›๐—— - Founders have ADHD and startups pivot, thatโ€™s a feature not a bug. But teams canโ€™t execute without a bit of sustained focus. When new ideas come, donโ€™t abandon your strategy, but test them. Identify the risky assumptions, write hypotheses and run experiments. Don't change directions when you get a new idea, change directions when you validate it. 5. ๐—๐—™๐——๐—œ ๐—ผ๐—ฟ ๐——๐—™๐—ง๐—จ? For some projects, like growth experiments, speed is more important than quality, so JFDI "just f****ng do it." But other projects, like security and availability, are mission critical, or DFTU ("don't f*** this up.") Those are mutually exclusive, so make sure everyone is on the same page from the start. 6. ๐—ฆ๐—ต๐—ฎ๐—ฟ๐—ฝ๐—ฒ๐—ป ๐˜๐—ต๐—ฒ ๐˜€๐—ฎ๐˜„ - Ask each team member to take one personal growth goal. This doesn't have to mean fixing a weakness. Instead encourage strong performers to build on their strengths or learn a new skill or domain. ๐—ฆ๐—ถ๐—บ๐—ฝ๐—น๐—ฒ ๐—ก๐—ฒ๐˜…๐˜ ๐—ฆ๐˜๐—ฒ๐—ฝ When intelligent people disagree theyโ€™re usually working from different assumptions. So use these precepts to get to the root cause. I hope they help you turn your OKRs from a source of endless debate into a valuable tool. And don't worry, the gym should clear out by Feb 1st. My weekly two-minute newsletter has over 10K subscribers, a mix of entrepreneurs and leaders, CMOs and even academics from places like Harvard, MIT, Google, Amazon, Uber, Apple, Zendesk, Typeform, Stanford, Twilio and Mixpanel. #okrs #startuplessons

Matt Lerner

Startup growth strategist, Ex PayPal, 500 Startups VC, Founder @ SYSTM

1y

Read past issues & subscribe to my 2-minute weekly email: https://www.blog.startupcorestrengths.com/

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Your email had immaculate timing today, as if you knew we started our morning with an OKR meeting. The email provided valuable food for thought, just like always. I especially felt the part where Peter Thiel demanded laser focus. We need that.

Liz Le Breton โœจ

Marketing Director + Consultant ๐Ÿค Cultural impact for brands on a mission ๐Ÿค D2C, Marketplaces, AI, Net-Zero, Edtechโ€ฆ ideas, tips + building what comes next (ex Samsung, ASOS, BBC, John Lewis, Ogilvy)

1y

That tweet is hilarious! Great sharpeners for sure Matt I love OKRs ... love the structure, the vision and simplicity they can bring, love to champion them. Personally I think the issue is often more about the people in a business and whether a critical mass of them have already used OKRs before. If you don't have this it's like pushing water up-hill as there is a tipping point with confidence and speed. It's especially tricky if some of your key influencers in the company also haven't learnt good goal/objective setting practise in the first place (which is very common) and lets say the founder thinks the pain doesn't out weigh the benefit or they tried and it failed before. Whilst it takes a little longer, I find that giving a broad group of influential people a quarter to explicitly trial and learn, then rolling out to everyone else is best in these situations

Nick Black

Product Strategy for AI and Deep Tech | co-founder CloudMade (exited)

1y

This one has been stuck in my head all day since I read your mail "At PayPal, Peter Thiel gave each person one project and refused to discuss anything else with them."

Andy Aitken

CEO & Co-Founder at Honest

1y

I think the tweet is so true - if you're a small team that knows what they're doing then OKRs just get in the way. Until you *need* them, avoid them!

Mark Walker

Co-Founder at RevvedUp.ai | Scale ABM Prospecting | AI Deal Coaching | Automate Meeting Prep & Follow-ups | Consistent Sales Execution | #scaling #b2b #saas #revenue

1y

Love points 4 and 5

Alan Smith

Founder - Capital Partners. Helping entrepreneurs achieve financial independence.๐Ÿค

1y

DFTU ๐Ÿ˜‚

Joshua Wรถhle

CEO @ Mindstone. Bridging the gap between the potential AI has to offer and the productivity increase for employees across your business. Ex. Co-Founder & CPTO @ SuperAwesome (Acquired by Epic Games)

1y

Very good set of rules to jump through. Thanks for sharing!

Adam Greenwood-Byrne

Tech-led CEO for SaaS, software or IT scale-ups under 50 FTEs looking to grow revenue/ARR from 7 to 8 figures and/or achieve their first exit

1y

Great post, thanks

Claire Erickson

Fintech Product Operations Executive: Strategy & Business Transformation | Product Launch | Innovation | Former PayPal, American Express

1y

Wise points as always Matt Lerner!

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