The Product Strategy Cycle

Roman Pichler

Traditionally, strategy and execution are often viewed as separate, sequential pieces of work that are carried out by different people. For example, a product manager might determine the product strategy and one or more development teams might be tasked with executing it.

Common Product Vision Board Mistakes

Roman Pichler

This article assumes that you are familiar with the product vision board or the key elements of a product strategy : market, value proposition, standout features, and business goals. Vision Captures Product Idea or Business Objective.

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SaaS Product Roadmaps: Achieving Your Product Vision

bpma ProductHub

by Paul Ressler – Everything is progressing well with your SaaS product; you have your product vision and you have product market fit. What are the next steps to achieve success for your SaaS product? One important next step is a product roadmap. Product roadmaps, done well, can be a great tool to help advance… Product Strategy

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Rediscover the Forgotten art of Product Strategy

Mind the Product

A strong product strategy is often neglected because of the absence of any strategic thinking in product teams. What can product managers do to make sure they give their product strategy the attention it warrants? Tanya shares her ideas for nurturing a strong product strategy from this year’s #mtpcon London Product Leadership Forum. But today many, if not most, product teams fail this very first test. Agile is not a strategy.

Establishing an Effective Product Strategy Process

Roman Pichler

Why a Product Strategy Process Matters. An effective product strategy process should ensure that a valid product strategy and an actionable product roadmap are always available—that a shared and valid approach to achieving product success is available at anytime, as the picture below illustrates. In the picture above, the product strategy describes how a visionary, inspirational goal is attained. Look for new market trends.

Tips for Effective Product Strategy Reviews

Roman Pichler

Hold Regular Product Strategy Reviews. A product strategy , like any other plan, is subject to change. How changeable your strategy is, depends on your product’s life cycle stage. As long as your product hasn’t reached product-market fit, the strategy is usually volatile. Contrast this with a mature product , which tends to have a more stable product strategy. What would make your product perform better?

Product Vision: Speak Language People Will Understand

The Product Coalition

Photo by Wynand van Poortvliet on Unsplash In this article, I’ll share some lessons learned by adapting an existing digital product for new customer segments. I’ll keep this article not attached to the product itself but in the process of building it and it’s the current process up until now. Alice Product Manager”- Without Product Vision, any direction will be taken. This research was based on areas that are either directly or indirectly related to my product.

Inspiring Teams with Product Vision

Mind the Product

In this in-depth and inspiring talk, Keela Robinson , Founder and CEO PM Loop, unpacks what vision is, why it matters and how to find it. Crucially, she demonstrates how to communicate and reinforce vision to your team by sharing an incredible 30 practical strategies for meaningfully tying your vision to all that you do. Vision comprises your Values, Purpose and Envisioned Future. In short, they are inspired and guided by your vision.

Vision vs. Strategy

svpg

In recent articles on keys to product success and the alternative to roadmaps I have highlighted that if you want the benefits of product team empowerment and autonomy, then you need to provide each team with the necessary context in which to make good decisions. I’ve explained that the context typically needs to be the product vision, and a specific set of outcome-based objectives for each team (OKR’s are an effective way to do that). Product Vision.

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Global Product Strategy by Mel McVeigh

Mind the Product

Mel McVeigh is the Product Director at Condé Nast , one of the largest publishers in the world, responsible for brands such as Vogue, GQ, and The New Yorker. In her ProductTank London talk, Mel takes us through how to create a global product strategy. She focuses on the following key points: Strategy. Strategy. She needed to combine the product and technology from each company and align the customer strategy by placing multiple business models on one tech stack.

Backstreet Boys, Zork, and Product Strategy

Gainsight

At our first-ever Pulse for Product event, we got inspired by this idea of video games, the nostalgia of 8-bit classics, the 90s (or really any year excluding 2020 – the bar is low), and leveling up (which ultimately became our theme for the event). But what’s life in Product like now?

A Practical Guide for Product Strategy From Almundo: A Case Study:

Mind the Product

Eighteen months ago travel tech company Almundo started to refine its processes to become a product-driven company. Our goal was to define how we would set and communicate the company strategy, and how that strategy would lead OKRs and backlog definition. Product (and company) strategy is the backbone that guides product goal-setting and roadmap definition, although it’s sometimes overlooked or confused with having a vision.

The art & science of Product Strategy in a crisis, disruption or acceleration

BrainMates

When everything around you is changing, what’s a Product Manager to do? In a Q&A a couple of months ago, someone in the (virtual) audience asked if they should be working on their strategy now, or if they should wait until things calmed down again. Read more about Product Strategy.

5 Factors to Consider When Building Your Product Strategy

Amplitude

When it comes to product strategy, there is so much conflicting advice that getting started can be confusing. Besides being vague or gimmicky, another common product strategy pitfall is to list tactics as an overall strategy. Product Mission and Vision.

Developing A Product Vision and Strategy

Actuation Consulting

Over the past few weeks we’ve considered a number of key product management tools. Today we will look at two of the most important: the Product Vision and Product Strategy documents. Defining a Product Vision Document. The Product Vision document looks into the future. It presents a 30,000-foot view of what you plan for the product to be in the future and its anticipated value. The Role of the Product Strategy Document.

How to Create a Product Strategy Without a Clear Company Strategy

Mind the Product

Having “no company strategy” is one of the biggest issues facing product managers, according to a recent survey of over 600 product people. After all, how can you set a reasonable direction for your product when you don’t know where your company is headed? Fortunately, there was enough data available on the student population and the market to be able to determine which combinations were the most significant.

Radical Product Strategy

Radical Product

Photo by Randy Fath on Unsplash How to iterate less and achieve more In my recent talks and blog posts , I’ve shared the importance of having a clear vision to avoid common product diseases. But once you have a clear vision, what’s next? How do you translate that vision into action? We had a clear vision. Radical Product Thinking means taking a systematic approach to building world-changing products?—?its’ Read on… Product is a way of thinking.

Is Your Product Vision Moving People in the Right Direction?

The Product Coalition

A meaningful, motivating product vision enables teams to advance to a purpose-driven mindset. Product Leaders face this universal truth daily: Sales wants to close more deals. Product wants to work on the “right” thing. Product Leaders spend much of their time navigating these competing needs. Because Vision without action is a dream. Action without vision is a nightmare Not exactly a Japanese proverb , but close enough.

In Times of Scarcity, Clear Vision Beats Rapid Iteration: Lessons for Business Leaders from Singapore’s Response to COVID-19

Business of Software Conference

In Times of Scarcity, Clear Vision Beats Rapid Iteration – Guest blog post from Radhika Dutt. Radhika is co-Founder of Radical Product Thinking. She has been based in Singapore for the past two years, will be speaking at BoS Conference USA Online as well as running online product masterclasses in the lead up to the event. In Times of Scarcity, Clear Vision Beats Rapid Iteration. It was easy to try things in the market and keep iterating to see what works.

Sticking to Your Product Vision Means Saying “No”

ProductPlan

Product managers wear many hats, but one of the most uncomfortable ones they’re forced to occasionally don is that of the product vision “Gatekeeper.” This particular aspect of product management requires PMs to do what most people find uncomfortable… say “no.”. Of course, product managers say ‘no” all the time, but it’s usually to bad ideas or things requiring resources that are simply unavailable. The importance of maintaining a product vision.

Sustainable Product Strategy: How to Move from Outputs to Outcomes

Amplitude

Roadmapping is at the core of product strategy and product management. As a product person, and the VP of Product at Yesware , I’ve never come to fully embrace the discussion of what each team would deliver, in what sequence and within a long timeframe. Output-focused product roadmaps provide a false sense of certainty, all while limiting product work to a few big bets, which may or may not pan out. Start with company vision and direction.

The one thing that can make or break your product and team: the vision

The Product Coalition

In speaking with many product people (PMs, designers, engineers, data scientists) over the last few months?—?I’ve I’ve realized that people use the words mission, vision and strategy interchangeably. Wanted to jot down some thoughts on my perspectives on this, and the topic of product vision in general - both to solidify my own thinking and in case it can be helpful to anyone reading this. the purpose behind the product or the company.

Intercom on Product: The intersection of company and product strategy

Inside Intercom

Five years ago I wrote about how product strategy means saying no – you must ruthlessly protect your product from feature creep. . Saying no, however, is just one part of a successful product strategy. As your business scales, you’ll need to carefully align your product strategy with your broader company strategy to ensure cohesive and sustainable growth. The meeting point of company and product strategy.

10 Ways a Feature-Less Roadmap Helps Your Product Strategy

ProductPlan

Since releasing both a webinar and book on the impact of feature-less roadmaps on your product strategy recently, we’ve gotten a lot of questions about why we’re so hostile to including features on product roadmaps. Features have long been the basic unit of measurement that product development teams track. Why Your Product Roadmap Should Be Feature-Less. Imagine you’re a software executive, and your product team has asked to present to you their new roadmap.

Market Problem Framing Example

Tyner Blain

As Steven Haines first told me, “strategy first, roadmap second.” ” There is a step between the two – deciding which problems you will focus on solving with your product. Strategy defines the context for product strategy, and your product roadmap is a planning (and communication) tool for executing your product strategy. Ted Levitt Whole Product Model.

Want a Successful Product? Start With A Vision

Sequent Learning

Want a Successful Product? Start With A Vision. Your success as a product manager is pinned directly to the positive contributions to the firm’s bottom line. That means, your product’s business needs to hit the target in the market and fulfill your commitment to the bottom line of the company. Successful products begin life with a spark of inspiration and a vision. If you inherit a product (most of us do), vision isn’t a genetic transplant.

Taylor Wescoatt – Being the First Product Manager

Mind the Product

In working at Seedcamp and helping over 100 startups understand product thinking, Taylor Wescoatt has learned some valuable lessons he’d like to share, together with some real-world examples to drive the point home! Being the first product manager at a startup typically means being the 10th or 15th employee, and recognizing that – although product management has both tactical and strategic components – you’ll initially be more focused on tactics.

A Strategy Map

Roman Pichler

Coming up with a set of tools to capture important strategic decisions reminded me of treasure maps: It should guide you to product success, bearing in mind that not all treasure is silver and gold, as Captain Jack Sparrow put it. The map below shows the strategy tools I find helpful to make effective product strategy decisions. The Strategy Map can help you check if you have any strategy blind spots.

Why Product People Should Care About Business Strategy

Roman Pichler

Business Strategy vs. Product Strategy. A business strategy describes how a company wants to achieve its overall aspiration and create value for its users, employees, and shareholders. It’s distinct from the product strategy : The business strategy states how the company will be successful, whereas the product strategy describes how a product will achieve success, as the following picture illustrates.

The Ultimate Product Strategy Checklist for your Mobile App

The Product Coalition

Working as a product manager can be a busy, unpredictable and octopus-like existence. Bringing team members together, organizing user research, product demos, road mapping and more. If you’re a mobile app product manager there’s a whole additional layer of complexity to add to that cake. In a recent product management insights report , as many as 57% of PMs said they don’t spend enough or any time road mapping.

The Seven-Part Guide to Portfolio Product Management & Marketing

Proficientz

This guide to portfolio product management and marketing answers the following seven questions. What is Portfolio Product Management and How Does It Differ From Traditional Product Management? What are the Core Principles of Portfolio Product Management? What are the Key Best Practices for Adopting Portfolio Product Management? Are There New Roles in a Portfolio Product Management Model? What are the Core Principles of Portfolio Product Management?

Product Discovery Tips

Roman Pichler

Product discovery is a team sport. I find it helpful to form a product discovery team that consists of: Development team members: user experience (UX) designer, developer, tester; Key stakeholders , for example, people from marketing, sales, and support; A ScrumMaster or agile coach. Your goal should be to mitigate the risk of building a product nobody wants and needs, not to figure out the product details. Do Just-Enough Product Discovery Work.

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Product Marketing vs. Product Management

PMLesson's Ace the PM Interview

So, what’s the difference between a Product Manager (PM) and a Product Marketing Manager (PMM)? Both Product Managers and Product Marketing Managers often work very closely together and share project ownership, they generally have different sets of responsibilities that require different skill sets. PMs are ultimately accountable for the product's success or failure. The PMM helps build the value proposition and positioning of the product.

Product Managers, Make your CEO provide a clear vision

Bain Public

There are so many articles about the challenges and stresses of being a Product Manager. But this is an article about your CEO’s duty to set a vision, to define why your company exists. For some product managers, the thought of talking openly about the void left by a missing vision statement is paralyzing. And as a product leader gets more senior, the need to clearly define the product strategy intensifies. Without it you can't be vision-driven.

How 3 product marketing managers execute product releases

Roadmunk

While product managers puppeteer a product journey end-to-end, product marketing managers tend to be the masterminds behind releasing said product to market. Despite this generally accepted understanding, coordinating product releases of any size can still get messy. So we spoke to three product marketing managers to explain how they approach product releases while working in conjunction with product management.

Business Cases Are Stories About Money

Mironov Consulting

Last week, I had three separate conversations with VPs of Product about business cases… initially framed as “do you have a template we should use so that our team can prioritize big investments?” Unpacking this, it became clear that their product teams wanted to jump straight into generating numbers and spreadsheets to present to executives, but were unclear about the highest-level objectives of their various investments. No software product is made up of only one thing.).

TEI 264: How product managers can make better use of marketing – with Jill Soley

Product Innovation Educators

How marketing and product management work together. Turns out if you ask 50 different people what marketing is, you’ll hear 50 different answers. That is what our guest did to investigate what people think about marketing and how it fits into the work product managers do. Our guest is Jill Soley, a Silicon Valley strategic product and marketing executive. Summary of some concepts discussed for product managers. [0:38]

Strategic Options for Mature Products

Roman Pichler

A product is mature if it has stopped growing: The benefits it creates no longer rise. In terms of the product life cycle model, the product has left the growth stage and entered maturity, as the following picture shows. To find out if your product is mature, you should track its performance. A tool like my Product Vision Board can help you with this. Then measure how much value your product creates. Option 1: Extend the Product Life Cycle.

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Choosing the Right Planning Horizon for Your Product

Roman Pichler

But in product management, there are several horizons that need to be considered—how many depends on the product planning model you use. In the product planning model above, the vision describes the ultimate purpose for creating the product; the product strategy states how the vision will be realised; and the product roadmap states how the strategy will be implemented. Product Strategy model planning

How Lessons From Wargames can Help you Ship Products and Build Strong Teams

Mind the Product

We all know that product is hard , so here are some themes from a very playful activity that will help you get better at it. Shipping products is rough, full of false starts, lousy execution, and a lack of will to kill products quickly. But a bad strategy creates a state of false hope, and can leave you and your team punched in the face after months of work. As a product executive, I deal with the strategy all the time. In product, it may be the opposite.