Do you have too many competing priorities? Do you have a hard time deciding which feature requests matter and which can be safely ignored? Does your company chase after the “idea of the week”? Or get caught up by whatever your competitors are doing? These are all clear signs that you might need to take some time to define your product strategy and vision.
What are some definitions of product strategy?
- Product strategy is a system of achievable goals and visions that work together to align your team around desirable outcomes for both your business and your customers.
- Product strategy is a high-level plan that defines what your product goals are throughout its lifecycle and how it will support the organization’s goals. The product strategy will also answer who the product will serve and how it will benefit them.
- Product strategy begins with a strategic vision that states where a company wants to go, how it will get there, and why it will be successful.
- Product strategy describes how value will be delivered to your customers
- Product strategy describes how the product is differentiated from the competition
- Product strategy describes how you are making money from the product (the business model).
Great products don’t happen by accident.
While there are many reasons products might succeed, it’s the direction of great product leadership that truly makes a difference. Let us help inspire, empower, and serve your team to:
- Better know your market, your product, your product line and your competition and allow you to confidently operate from a strong basis of that knowledge.
- Measure yourself in terms of the success of your product.
- Deliver the right product at the right time.
- Devise and execute a winning plan.
Let us help you set your product direction to
- Build your successful product that meets your customer needs
- Differentiate your product from your competitors
- Enhance your business viability
Let us help you building your team
- Build your team starting with hiring, onboarding and development
Let us help you establish your product organization and processes (across product teams)
- Establish formal reporting lines
- Set up and organize your cross-product teams
- Establish cross team processes
- Establish product direction and team building
- Establish how is capacity and responsibility allocated to fix bugs, reduce technical debt, or improve infrastructure components