Hello, dear students, and welcome to another lesson in the School of Innovation. I'm your teacher, Yaniv Corem, and this week we are talking about getting the right shit done with objectives and key results.
My guest this week is Marius Ursache, a serial entrepreneur, designer, and former doctor. His latest venture is Metabeta, a portfolio management suite for startup accelerators and early-stage investors that streamlines deal flow, tracks company metrics and portfolio performance and increases the engagement of mentors, partners, and alumni. Please welcome Marius Ursache.
Marius Ursache expresses relief at not having any exams or homework. Yaniv mentions a quiz for the listeners and discusses an article by Marius called "Keep the Main Thing the Main Thing," which is a guide to implementing OKRs and creating accountable teams. Yaniv is interested in broadening the scope beyond startups, to which Marius agrees.
Marius explains that he has been an entrepreneur for over 20 years. He initially graduated from med school and should have been an MD, but the entrepreneurship bug bit him. Starting as a designer, he quickly realized he hated management and wasn't good at it. Over time, he hired managers but found it didn't align with his vision. This led him to explore various management methodologies, such as agile management and traditional project management.
Marius emphasizes that management is more of an art than a science, and predicting outcomes in a system involving unpredictable elements like people is difficult. His perspective on good management is about preparing and creating adaptable systems rather than trying to control everything. These experiences have shaped his approach to OKRs (Objectives and Key Results) and have worked well for him and other startups he's helped.
Marius highlights that OKRs involve setting objectives at both company and individual levels and then measuring key results. They're essential for aligning the team around a shared vision and breaking down that vision into manageable pieces. He stresses that success isn't just about achieving measurable outcomes but also about team dynamics and morale.
Marius shares his journey with OKRs, adapted initially by Intel in the 80s and later popularized by John Doar at Google. OKRs can work for both large companies and small teams. The key is continuous experimentation and adaptation based on internal feedback.
Yaniv points out that adaptation is crucial and often overlooked. Marius agrees and notes that every company needs to find its unique flavor of OKRs. He explains that OKRs are not about setting rigid tasks but focusing on outcomes and letting team members define their OKRs. This approach fosters accountability and alignment within the team.
Marius also discusses the importance of routines in implementing OKRs. He believes that motivation cannot be imposed; it must come from within. The right tools and routines help embed OKRs into daily practices. His team uses Confluence for documentation and has regular meetings to review and set OKRs, ensuring everyone stays aligned and focused on their priorities.
Marius concludes by emphasizing the joy of working with a motivated and engaged team. He believes the right system or methodology is less important than the people you work with and the culture you create together. Yaniv agrees and ends positively, encouraging listeners to read Marius' articles for more insights.
Marius shares that his articles, including the one on OKRs and another on the Problem Statement Canvas, are based on real-life experiences. He invites listeners to learn more about Metabeta, which aims to revolutionize startup investments by connecting startups with the best investors, focusing on meaningful impact rather than just connections.
