How Firstbase.io Uses 15Five To Track Performance and Accelerate Their Business Growth
Estela Valeova is a Marketing Manager at Firstbase. She is passionate about creating and developing innovative content and strategies, whilst helping founders from around the world launch and scale their startups to successful businesses.
In order for businesses of all sizes to thrive in today’s world, they must constantly strive towards becoming more efficient and productive. The key component in the success of all businesses of any size is the constant push to boost internal efficiency and productivity.
What some business owners may not realize is that there are tools like 15Five designed specifically for tracking team performance and business growth. These tools allow founders and employees to evaluate how well they’re doing at any given time.
This blog post will give you a real-life example of how a company uses 15Five to document progress, identify opportunities for improvement, foster creativity, and grow.
Why Firstbase.io uses 15Five for performance tracking
Firstbase.io is a legal tech SaaS company that helps entrepreneurs incorporate and grow their companies in the US from anywhere in the world. 15Five is one of the most essential tools for Firstbase since it helps them set, clarify, and track their top objectives.
For each quarter or three-month period, Firstbase sets objectives and key results (OKRs) and keep in touch with employees every week to track performance against these objectives so they can adjust or optimize accordingly where needed.
Firstbase has found this system more effective than traditional quarterly reviews as people actually dislike quarterly performance evaluation.
15Five allows the team to stay focused on what matters most, without feeling like they need to report back at regular intervals.
How the Firstbase.io team uses 15Five
Apart from setting quarterly objectives on the platform and tracking team performance, each team member submits a personal report each Friday directly on the platform – this is their weekly ‘Check-in’. In case someone forgets it, the whole company uses the 15Five Slack integration that sends them reminders and highlights achievements, goals, and due dates. This is in addition to direct email reminders and notifications from the 15Five platform.
The Check-ins help the employees actually ‘check-in’ – not only with their team lead or manager but also with themselves.
The weekly check-ins are the place where the employees can see their progress with work, express any concerns, set priorities for the next week, compliment a team member for something they have achieved together, ask for help, and more. All in one place.
Sometimes it can be hard for employees working remotely to feel like a part of something and stay connected, and this can result in a decline in performance due to the employees feeling alienated.
Having a tool like 15Five fosters connection and allows everyone to share their ups and downs and to feel like a part of something bigger.
How the 15Five app has helped Firstbase.io
Firstbase.io was founded in 2019 as a service to help foreign entrepreneurs incorporate their businesses in the US.
Now, almost four years later Firstbase.io has become an ecosystem for entrepreneurial growth helping entrepreneurs from end to end by not only offering them an incorporation solution but also assisting them launch, manage and grow, the companies. This is huge growth!
In just a few years, Firstbase.io has not only expanded its products but also grown its team, users and revenue while continuing to work in line with its mission. The company has also raised about $3.5 from investors including Ycombinator, Carta Ventures etc.
With success comes more responsibilities and sometimes, new complexities. For this reason, Firstbase.io needed something more than weekly meetings or shared drives to keep the team together.
They needed a place where they could not only track goals but also people’s development, pulse, and priorities.
15Five came to the rescue on this one!
Benefits of using 15Five for your company’s performance
Firstbase.io employees have shared their thoughts on what the biggest benefits of 15Five are for them.
Here is a list of their 15Five reviews:
- 15Five provides a platform where employees can easily share their needs and get things done.
- 15Five makes it easy for people to communicate important information, such as how they felt about the week’s progress and what they plan on doing next week.
- 15Five helps Firstbase.io employees to stay connected.
- 15Five helps employees track performances and identify areas they could do better.
“15Five is an incredible tool that allows our people to express gratitude, set goals, and start out on the right foot every single week,” claims Danny Chu, COO of Firstbase.io.