...in the time it takes to drink a cup of tea
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Are you serious enough to achieve 10x business growth?
A simple business idea connects Bono (from U2) to Google to Intel and other high-growth
businesses…
It’s almost too simple to share, but it works!
Late in the 1990s 17 different search engines were fighting it out to dominate the web.
Then the 18th search engine started up – Google.
Google did this by using a method that ensured company-wide focus on a handful of
important priorities.
Normally such a latecomer wouldn’t stand a chance, having given the others such a head
start.
Have a single quarterly priority focus, share it across all your team and set up ways
to track activities and results.
If you set out to change three things or more you’ll dilute the focus and continue to be swamped.
Or you’ll need a bigger team.
Instead, work out what to focus on, and what not to focus on for this quarter.
The best place to work...
So how did this technology start-up repeatedly race on with 10x annual growth and become repeatedly rated as the best place to work more times than any other this
century?
This has continued as Google has grown, and every 13 weeks (for the last 20+ years)
Google’s leadership team evaluate the company’s progress against a handful of top level priorities.
Every single person in the business is clear on Google’s priorities for that quarter and the
key measures used to evaluate progress.
BONO loves focus too...
In 2004, Bono co-founded ONE – a global coalition of 11 organisations campaigning to end extreme poverty and preventable disease by 2030.
Like Google, ONE worked out a key focus, agreed key measures and then shared
them with everyone involved.
A heady blend of passion, talent and disciplined focus.
Like Bono says:
"
“...choosing one fight at a time and
going at it with a vicious schedule -
OKRs forced us to think clearly and agree on what we could achieve with the resources we had”
BONO
With such an ambitious goal, and so many passionate and talented people involved, the ONE CEO, David Lane, rightly said:
"
“We needed a process of discipline to
keep us from trying to do everything”
David J. Lane
So far, ONE has helped deliver nearly £40 billion in funding for health initiatives.
They’ve helped to almost halve AIDS related deaths and also halve the number of HIV infections in children.
Here's the proven solution for you...
Work out the OKRs (Objectives and Key Results) for your business:
- 1Focus on one significant Objective in the next 13 weeks – give clear
direction to your team - 2Measure what matters (Key Results) to help you achieve your goal – set
measurable milestones to monitor progress
Google, Bono and the team at ONE learned the OKR lessons from another landmark success story – Intel.
Intel now control more than 70% of the Integrated Circuit market worldwide –
demonstrating more evidence that OKRs work.
.
Less is more...
You already know that if you spread your time, effort, energy and team across too many projects you’ll complete very little.
Frustration will dominate your feelings.
Your results will be poor, your team disheartened.
STOP : thinking you can do multiple business growth projects all at once
START : making hard choices and exclude all but one priority for the next 13 weeks
...so, choose your priority
A definition – priority – one thing held as more important than others.
This means working out what you need to downgrade or exclude from your efforts for the next 13 weeks whilst you focus on your primary goal.
To join the ranks of Intel, Google and ONE, simply focus on one significant Objective in
the next 13 weeks.
What one primary goal do you wish to achieve in this quarter?
Key Results – time-sensitive and specific measurements to monitor progress in achieving your primary goal this quarter.
At the end of the quarter you then move on to focus on the next significant objective
with key results for the following 13 weeks.
Important or urgent?
Most business leaders and managers will consistently say yes to requests from their customers, team and also to their own ideas.
Their to-do list gets longer and longer with more and more urgent priorities.
A business only running on urgent priorities will perform less well in the long term than a business which also focuses on a strategic priority every 13 weeks.
A strategic priority that may not be seen as urgent but is important to the growth of the business.
For example, you can put off hiring a key person for a couple of months or you can delay reorganising your stock control system for a whole year if you wish.
These strategic projects remain important and will probably hold your business back if you delay them.
However, these projects require large levels of commitment.
Taking on more than one large project at any time may be paralysing without the resources to follow through - make one of them your primary goal for the next 13 weeks…
and then move on to the next one next quarter!
Right time right place...
John Doerr author of the insightful book ‘Measure What Matters’ worked with Andy Grove, CEO of Intel and ‘father of OKRs’.
John witnessed how Grove turned Intel into the world’s dominant integrated circuit producer – with the help of OKRs.
After leaving Intel, John invested in Google at its start-up phase and introduced OKR insights learned from his time working at Intel.
John later advised Bono and ONE on how to put OKRs to work.
Put 4 superpowers to work...
In ‘Measure What Matters’ - John talks about the 4 superpowers that result from the use of OKRs:
Superpower 1 – Focus and Commit to Priorities
High-performance businesses home-in on one priority