Joshua FraserChief Data Nerd, Data Nerds · CEO at Data Nerds, AI & Data Entrepreneur

$15,000,000 exit because of this #startup #acquisition #entrepreneurship #entrepreneur

Name: $15,000,000 exit because of this #startup #acquisition #entrepreneurship #entrepreneur
Uploaded: 2024-10-14T19:07:02+00:00
Duration: 51 s
Channel: Joshua Fraser
Description: In this YouTube monologue, Joshua Fraser argues that any growing business needs a clear strategic framework to manage tasks, and he shares how Objectives…

14 Oct 2024 · 1 min

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In this YouTube monologue, Joshua Fraser argues that any growing business needs a clear strategic framework to manage tasks, and he shares how Objectives and Key Results (OKRs) served that purpose for his startup. He explains that an objective states the singular goal to achieve, while a key result is a measurable benchmark that tracks progress toward that objective. He outlines the essential attributes of effective key results—specific, time‑bound, aggressive yet realistic, SMART, and verifiable—and notes that each objective should be assigned an owner. Fraser describes the operational rhythm his team used: presenting and reviewing OKRs on the first Friday of each month. As the company expanded to about 30 employees, they shifted to a quarterly (90‑day) cadence for larger projects, though he personally prefers the monthly rhythm because it keeps a pulse on everyone’s work.

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If you're building a business, you are absolutely going to need some sort of strategic framework of how you manage all the tasks that you're trying to accomplish. OKRs were what worked the best for us. There's an objective. What are we trying to achieve here? No more, no less. And a key result. It's a benchmark that you monitor of how we get to the objective. Key results are specific. They're time bound, they're aggressive, they're realistic, they're smart, they're verifiable. The objective, you would write the objective in that box. Who owns it, what the result is. It's as straightforward as that. How do we use them? We review and present them on the first Friday of every single month. You can pick the day. We did the monthly. As we grew our team to about 30 people, we started to move to quarterly. And depending on the size of the projects that we were working on, we could push it out to be 90 days. But honestly, I really like the monthly cadence. It helped me keep a good pulse on everyone to see what they are doing.