Quick Start Guide to Product Strategy
一个名单t is the vessel in which you create change, and it is smack bang in the middle of everything. It enables the business, it creates progress for your customers and is supported by technology and design. Product Strategy is the choices you are making in creating the future you and your team envision.
In short…it is a vital and important artifact in Product Management, and if you don’t have one…sorry to say but you are up shit creek without a paddle buddy.
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You cannot create a Product Strategy if you do not know where the business wants to go. If you are in this position, you gotta rally the troops to get this sorted straight away.
There are so many things to tick off this box, but if you don’t know who your target customer is, what the business model is behind the product, or what what direction the business is wanting to go…good luck trying to create a Product Strategy.
Without this you miss the opportunity to place constraints and focus your Product Strategy on the things that matter over the mid to long term.
Sort out your own Knowledge
This is generated from research and insight. If your knowledge isn’t up to scratch, you will again, have a hard time creating a solid Product Strategy. Shit in gets shit out.
It is also not created in silo and when you start putting pen to paper, make sure to share your thoughts with those around you. Get a gauge if you are on the right track with peers and leaders and if your hypotheses check out with what people are hearing in the market and from existing customers.
The biggest pitfall I’ve seen in my own and in others is the lack of diversity or knowledge in what you can do with a Product to create progress.
I feel Product is conditioned to think in features and user value only. That through building great experiences that add value, that people will come. This is the path of Feature Strategy, an important component of a greater Product Strategy, but is often the only lever that gets pulled.
A Product Strategy is more than just features, it is also how the Product can distribute it’s current value proposition, doing its own heavy lifting of acquisition, retention, and monetization of customers or users.
How will the product scale to meet future growth targets, and how will processes change to support growth?
Create a Compounding Narrative
不w it is time for f$&king hard part…the narrative.
在创造产品战略时，我将搞砸的东西是太局部的范围，并且在策略的叙述中缺乏复杂的增长和“连接 - ness”。
It would go a little something like this:
The strategy felt siloed and short sighted. At best, It was a series of opportunities that were independent of each other.
What saved my bacon?Systems thinking. Your Product is a system, and with any change you make you are impacting that system as a whole. With that in mind, you could be missing out on the opportunity to maximize the entire system.
不t all things connect, but being able to create a cohesive, connected narrative surrounding your Product Strategy is a lot stronger than a series of short independent stories.
Smash it out of the Park
产品策略是一个活生生文件，应该通过新的洞察力来推动，并在事情发生变化时挑战。它也是一个强大的工件，滤除噪音并使它更容易说明是的to the right things, and不to the distractions.
What happens when you don’t have a Product Strategy? Here are some of the symptoms you might be experiencing:
- Endless prioritization wars of features
- Everything is siloed with a lack of compounding value
- You are moving no closer to the future your product is trying to create
If you are experiencing any of these symptoms, I recommend a healthy dose of strategy to get you feeling right as rain.
- Learn the levers of Product Management & Strategy. It isn’t all about features. Understand how you can channel the product to do it’s own distribution and build power in competitive markets
- 这完全是关于讲故事的。在周围创造一个强烈的叙述“如何以及为什么”that compounds in value. The“什么”通过合作和与产品团队共同创造的推动。
- Get it out in the open and use it as a mechanism to generate discussion. Having a strategy puts in boundaries which lets us focus on the few things that will have a huge impact and say no to the noise.