If our team was aiming to launch our product, Plates, it would be helpful to define OKRs in order to help further energize the team by providing an even clearer focus. Below is an OKR set, distinguishing the qualitative mission-driven Objective, and the quantitative Key Results.
Objective: Launch a popular virtual “food truck” MVP that brings groups of people together over a shared food experience.
Key Results:
- 200 new accounts in the first month (i.e. focus efforts in the beginning on adoption numbers; as time goes on, it would be increasingly important to pay attention to retention metrics as well)
- 200 people who place an order and sign up for a match in a month (i.e. ~35-50 group matches)
- Net Promoter Score (NPS) of 8 (out of 10, to signal that users would be willing to recommend that others try out Plates)
- XX in revenue (enough to break even on operational expenses such as food orders and delivery, at least in the short term)
To summarize the focus of the key results, which help track success towards the objective, it would make sense for a new product like Plates to attend to growth and engagement at the outset, and balance with performance so that new users return to the product after trying it once. Revenue would also be important to ensure the financial feasibility of the business in the long term.
The OKR above describes the most important initial concerns for Plates if it were truly to be launched. By having a single OKR set, with an objective supported by around 4 key results, it would narrow down goals into what is most necessary at the product’s beginning stages. Doing so would help the team prioritize work that is most critical to success and prevent losing focus in day-to-day activities.
