How to Better Meet Investor Expectations

What are OKRs, we hear you ask?

OKR is a fantastic goal-setting framework that empowers organisations to set, track, and achieve their growth objectives by measuring progress through specific, measurable outcomes (Key Results). With roots in Silicon Valley and embraced by industry giants like Google and Intel, OKRs are a go-to way for successful scaleups and leading corporations alike, enabling them to stay focused on what matters most to drive results.

So, you might be wondering, why should you bother with OKRs?

Chances are as a founder, you’ve got a million things on your plate right now, and that’s where OKRs can really shine.

Let’s break down why OKRs should be a key part of your strategy.

Getting everyone on the same page

You’re probably growing in size, more people, more teams, possibly more locations, so one of the biggest challenges for growing scaleups is making sure everyone is working towards the same goals. With OKRs, you can clearly outline your company’s top objectives and make sure that every team and individual is moving in the same direction. This alignment helps break down barriers between teams and ensures that resources are focused where they can make the most impact.

Strive for transparency and accountability

By tracking progress with specific, time-bound, and measurable Key Results, everyone knows what’s expected and when. OKRs promote a culture of recognition for achievements and allow for timely addressing of any obstacles. By keeping investors informed about progress towards your goals and any challenges, it helps foster trust and transparency.

Accelerated achievements

We think the most compelling reason to adopt OKRs is that they can help you get done twice as much, in half the time, such is the focus they can bring. By breaking down your biggest goals into manageable, measurable OKRs, they create a clear roadmap for your team. This clarity not only speeds up decision-making but also accelerates the achievement of milestones, helping you hit critical targets faster than you might have imagined.

Stay agile

The beauty of OKRs is that they’re flexible and adaptable, allowing you to pivot when you need to. Whether you’re adjusting to market changes or seizing unexpected opportunities, OKRs keep you nimble and ready for anything. If the market shifts or unexpected opportunities arise, you can pivot your OKRs without breaking a sweat. OKRs can work in short cycles, typically quarterly, this frequent rhythm allows you to course-correct rapidly. If a strategy isn’t working, you don’t have to wait a whole year to fix it. You can tweak and refine your approach regularly, keeping your business moves sharp and agile.

Measure what truly matters

We get it, metrics can be overwhelming. OKRs cut through any noise by allowing you to focus on what really matters and not only get half the picture by focusing on BAU. Forget drowning in a sea of data; Key Results are your life jacket, keeping you afloat with clear and measurable outcomes.

Continuous improvement

OKRs create a culture of continuous improvement, by having regular check-ins and reflections on what worked and what didn’t, keeping your strategy fine-tuned and ready for the next leg of the adventure.

If a Key Result isn’t achieved, it’s not a failure but a learning opportunity. OKRs help you adapt and improve based on the lessons learned. OKRs will also motivate and encourage teams to be more innovative, explore and test new approaches.

The TBG OKR Process

At There Be Giants we have our own method and way of doing OKRs. We don’t offer an off-the-shelf product, as we all know, what fits one business won’t necessarily fit another. That’s why we work with our clients to adapt our framework to fit their business.

We start with leadership alignment, whereby we ensure leaders understand the benefits and principles of OKRs to ensure commitment to the OKR process and support a culture where OKRs can thrive.

Next, we move into framework design, we adapt our OKR framework to fit your organisation and not the other way round. We want OKRs to work for you and not for you to work for OKRs.

We then get into the detail. Here we work with you to map out your desired long-term goals and the strategic gaps that are stopping you from getting there. This is where we identify those all-important step changes that are going to drive your organisation forward.

Then we facilitate and guide your teams to set ambitious and aligned OKRs that reflect your priorities and support your overall organisational goals.

One aspect that often gets forgotten when it comes to new initiatives, is culture change! Without the right culture in place your OKRs are doomed to fail. We team up with you to reveal the full potential of your employees and craft a desired culture in the workplace. We want to build a positive atmosphere that not only boosts morale but also contributes to your bottom line.

This is where some consultancies up and leave, not us, we work with you to create a team of OKR coaches that will become your Centre of Excellence to enable knowledge sharing, best practice setting, constant improvement and evolution of OKR implementation within your organisation.

Summary

We hope we’ve given a good overview of the use of OKRs and how beneficial they are to you as a founder having recently secured investment. Provide a structured approach to setting and achieving goals that align with investor expectations, optimise resource use, drive team performance, and facilitate informed decision-making with OKRs in place. To find out more about what we do and how we do it, reach out to our team who’ll be happy to talk more.

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