Establishing an Effective Product Strategy Process

Roman Pichler

Why a Product Strategy Process Matters. In the picture above, the product strategy describes how a visionary, inspirational goal is attained. It includes the product’s value proposition, market, stand-out features, and business goals. Do they impact your product?

Elements of a Compelling Product Vision Statement

280 Group

Do I Really Need a Product Vision Statement? When you do the math on how many team members you have this leads to an astounding number of decisions that are being made daily around your product. Product Management Product Strategy Messaging Vision

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What is Good Product Strategy?

Melissa Perri

“What is your Product Strategy? YOU NEED A STRATEGY.” When I replay this scene in my head, I can hear the CTO very audibly yelling (slash pleading) with our product team. This didn’t sit well with the CTO because in reality he didn’t want a strategy, he wanted a plan.

How to Distinguish Between Your Product Roadmap, Product Strategy, and Product Vision

UserVoice

While you might “own” the product, your product’s vision should be coming from the top of the house. It should be driving everything in your organization, not just product development. Sales, operations, technology… all of it should be working toward a common vision.

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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. Because Vision without action is a dream.

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. Vision comprises your Values, Purpose and Envisioned Future. In short, they are inspired and guided by your vision.

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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.

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. the purpose behind the product or the company.

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?

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 post A Strategy Map appeared first on Roman Pichler.

What you should consider when developing a product strategy

Craft.io

This blog has already addressed the different stages of Product Development Strategy. This time, we’re turning our attention to the various elements needed to formulate the right product strategy for your enterprise. Why you need a product strategy.

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 is therefore a key input for any product discovery work.

7 Ways of Creating and Sustaining an Agile Product Roadmap

bpma ProductHub

By Ellen Gottesdiener – Product Roadmaps Are Necessary for Product Success A product roadmap visually depicts how your product will evolve over time to realize your product vision and achieve continual value for your customers and business. (I I define the term product to refer to a software application, system, device, service, or a combination that… Product Management Product Strategy

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.

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What PRD template provides a useful roadmap?

bpma ProductHub

Product Requirement Documents (PRDs) are documents product managers use to achieve several important objectives. They (1) create purpose and context for the teams they work with, allowing key stakeholders to feel heard; and (2) clearly communicate the vision.… … Product StrategyBy Daniel Wu’ – An ideal PRD discusses users, shows features in a visual prototype, and includes key hypotheses.

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.

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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. A tool like my Product Vision Board can help you with this.

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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. The product backlog contains the details necessary to develop the product as outlined in the roadmap including epics and user stories.

Is MVP Dead?

bpma ProductHub

Is Minimum Viable Product Dead? – By Don Stoddard . Minimum Viable Product is a widely accepted concept; so why do so many people want to declare it dead? In many ways, MVP suffers from its own popularity associated with both good and bad products. Product Strategy

The “Why” Behind Your Product Roadmap

bpma ProductHub

The vast majority of product roadmaps move the product in a positive direction, but desired results are only achieved if there is clarity around where it is taking you, and why. Well-run companies are honest about the reality of their current products. product/features/strategy.

Make Your Product Stand Out with the Strategy Canvas

Roman Pichler

The Strategy Canvas. The Strategy Canvas was developed by Kim and Mauborgne, the authors of Blue Ocean Theory. It was originally intended as a business strategy tool to discover new markets. Applying the Canvas to Your Product. Product Strategy

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.

Why We Fail: What I Learned From 5 Years with Friends, Netflix’s Social Strategy

Mind the Product

I write a lot about product strategy, and use Netflix as an example so that others can learn from the company’s success and failure. As a strategy, social makes sense. Product leadership requires optimism. Tunnel vision prevented us from accepting failure earlier.

Product Roadmap Success: BWP Hosts Lively Roundtable Discussion

bpma ProductHub

By Garima Painuly- One of the constant challenges a product manager faces is creating a focused product roadmap that is aligned with expectations of all stakeholders, and defending that roadmap against distractions. Creating a Focused Product Roadmap.

Product Management Synapses

Tyner Blain

You know you’re a product manager when this image causes more than a chuckle. A few random thoughts inspired by this Rorschach test of product management concepts from sunk cost fallacy to intentionality.

Product Roadmaps in Five Easy Pieces

Mind the Product

so my investor said that I need a product manager to do our product roadmap?”. When I worked as a product management consultant clients would often talk about “needing a product roadmap ASAP”. If you’re only going to read one thing: Product Roadmaps Relaunched.

Uncovering Your Most Pivotal Users by Marieke McCloskey and Doug Puett

Mind the Product

We all want our product to be used more often and by more people, but how do we identify opportunities that will transform how your product is used? This research has allowed us to make more informed and confident decisions about our product vision and roadmap.

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3 Questions to Ask About Every Potential Product Feature

ProductPlan

If you’re a product manager, then you know that demands for new features come from all directions. Still, other times these demands might come from your general user base simply asking for more features in your product. Or, products lacking a coherent vision or purpose.

How we ensure alignment between sales and product

Inside Intercom

A great partnership between product and sales needs to be based on shared definitions of success and an agreed upon process to collaborate. First, for a product to truly be considered successful, among other things it has to be: Valuable – solve a real problem people are willing to pay for.

How the Price of Victory led to Brexit

The Product Coalition

And what can Product Managers learn from it How to lose a Referendum by Jason Farrell and Paul Goldsmith is a darn book about the multiple reasons that led to one of this decade’s highly publicized and stomach churning debacle in the western world.

10 Smart Ways to Avoid the Consequences of Design by Committee (While Still Listening to the Team)

ProductPlan

One of the biggest challenges product managers face is including the entire organization in product planning while avoiding a phenomenon we often call “design by committee.” If you treat every piece of feedback equally and every opinion as truth, you may end up with a bloated , Frankenstein-esque product–a loosely stitched together mashup of various opinions and ideas. This is what happens if you build a product in a vacuum. Roadmaps Product Strateg

What we learned about product and design in 2018

Inside Intercom

Our conversation comes from the value we have at Intercom to continuously share the lessons we’re learning about growing our product and our team. The best product strategy is one where new features build upon previous launches to provide compounding value for the user.

Lather, rinse, REPEAT! Becoming a CRO

The Product Coalition

The tyranny of the urgent can lead product managers down slippery rabbit holes. The first and paramount responsibility of a product Manager is a never-ending, difficult, oft-shunned task of building a shared understanding of the product strategy through listening, influencing, and repetition.

How bots, messengers and apps will define 2019 with Des Traynor, Paul Adams and Emmet Connolly

Inside Intercom

On the heels of our 2018 retrospective, we decided to take a look at what product themes and technology are likely to define the year ahead. Sometimes the biggest gains come from revisiting and improving old products, rather than simply introducing new ones.

What we learned moving sales and product upmarket together

Inside Intercom

As Intercom’s customer base moved upmarket, it became increasingly obvious to us in Sales that what worked well in our product for early-stage startups didn’t for larger companies. To fix it, we had to change how we worked with our product team. We created our first sales function in 2014 and in the busyness of building out the team, we had little time to reflect on how our experiences on the frontline of sales could add value to our product roadmap.

4 Mistakes Your Company Might Be Making with Your Product Culture

ProductPlan

If we asked you right now to describe your organization’s product culture, what would you say? Almost nobody we ask has a ready answer, not even experienced product managers. In fact, we’ve found that very few people even know what a product culture is. What is Product Culture? What exactly do we mean by product culture anyway? Product culture is yet another aspect of the broader organization that product management is responsible for.

Getting the Best Products to Speak for Themselves

Mind the Product

Give Your Product a Voice. This approach is pretty common in B2B companies: in a world of high-touch sales cycles and complex products, getting hands-on with support requests and product problems used to be an important part of the product manager’s job description.

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Customer Churn and SaaS

Tyner Blain

A product or business built on SaaS is built on the subscription model – recurring revenue is half of what drives the business (and valuation). If your products don’t help your prospective customers, why would they buy your products?

Seriously, What’s the Difference Between Product Manager and Project Manager

Craft.io

If you’re wondering about the difference between the responsibilities of proDUCT managers vs. proJECT managers, you’re not the first, nor are you the 200 th person to be confounded by that. Let’s break it down a bit: Product Manager’s role. Product Manager. Vision.

Why a Design Sprint is Better Than Real Life (and how to Keep Those Vibes When the Week Finishes)

Mind the Product

If you work as a product manager or with a product team or in a business with Lean culture and credentials, this is not rocket science and may feel commonplace.