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Listen to the audio version of this article: [link] AI Strategy Benefits My research shows that AI can help you make better strategic decisions faster, at least for certain products. [1] This can help you create a new strategy and evolve an existing one. 5] What about Product Roadmap Generation?
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 productstrategy and one or more development teams might be tasked with executing it. I call these outcomes product goals.
An effective productstrategy is key to successfully create, enhance, and manage a product. There is no point in worrying about the product details and writing user stories if a sound productstrategy is missing. But what exactly is a productstrategy? Figure 1: My ProductStrategy Model.
Today, Product Management University announced its ProductStrategy Framework for B2B product management. There are two key aspects that separate this framework from all the conventional productstrategy frameworks. It’s the root cause behind product priorities that are constantly under scrutiny.
Whether you manage a feature, a product, or a whole suite of products, you likely have some goals that you're trying to meet. But do you have a strategy? Strategy and goals are different. It's your strategy that allows you to make decisions that help you meet your goals in the first place.
Let’s make this more concrete by looking at a popular product discovery tool, Teresa Torres’ Opportunity Solution Tree (OTS). [2] 2] Before I proceed, let me point out that I am neither a product discovery expert in the sense discussed below nor do I fully endorse the specific approaches created by Marty and Teresa.
If you’ve ever sat through a company strategymeeting and left with your head spinning, you’re experiencing a common problem. Okay… but that’s a target, not a strategy. That’s not a strategy – that’s a feature masquerading as direction. When strategy is unclear, anchor yourself in how your company creates value.
Listen to the audio version of this article: [link] ProductStrategy Discovery Explained What is productstrategy discovery? More precisely, it is the process of developing a productstrategy whose implementation will likely create the desired value and impact.
Below, you’ll find what I believe is the most actionable, specific, and straightforward framework for crafting a strategy, for both your product and your company. As Chandra shares below, his framework sits on top of the best strategy wisdom out there (e.g. What exactly is productstrategy?
Speaker: Bob Caporale, Founder of Strategy Generation Company
Have you ever had internal financial goals handed down to you that seem nearly impossible to meet? As product managers, we’ve likely all faced this situation at some point in our careers. By driving your company’s “top-down” goals with a clear and well communicated “customer-up” productstrategy!
A four-layer framework to create a winning productstrategy Today we are talking about creating productstrategy. Bob is the author of the book Creative Strategy Generation. I first heard of Bob when he was the president of Sequent Learning, the product management training company.
2] Figure 1: The Power-Interest Grid The grid divides stakeholders into four groups: crowd, subjects, context setters, and players depending on how interested they are in your product and how much power they have. Decisions related to a new or significantly changed strategy have a very high impact.
Listen to the audio version of this article: [link] 1 No Strategy The first and most crucial mistake is to have no productstrategy at all. When that’s the case, a product is usually progressed based on the features requested by the users and stakeholders. The strategy is therefore either too big or too narrow.
Why a ProductStrategy Process Matters. An effective productstrategy process should ensure that a valid productstrategy 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.
Be clear on the reason why the meeting is needed. What’s the meeting about? For example, a productstrategy workshop might have the objective to identify the key changes required to achieve product-market fit. Carefully consider who should participate in the meeting to achieve the objective you have set.
From handling feature requests that lack customer validation to managing unrealistic expectations, we’ll discuss practical strategies to maintain alignment and avoid common pitfalls. Through these insights, you’ll be better equipped to handle the pressures of managing up and leading your product toward success.
B2C) Align roadmap structure with development methodology Balance customer needs with development capabilities Maintain appropriate levels of flexibility based on market type Understanding these contextual factors helps product managers create more effective roadmaps that better serve both their organization and their customers.
The path from IC to Chief Product Officer isn’t just about gaining more responsibility it’s about transforming how you think about product development, team leadership, and business strategy. However, she still needed to learn the company’s products, technology, and internal language.
It gave me a framework for integrating what a product manager does, and I have since taught it to many other product managers. . Today we are discussing strategy. This is the foundation for product managers as organizational strategy impacts productstrategy. Today, we focus on strategy.
Business Strategy vs. ProductStrategy. A business strategy describes how a company wants to achieve its overall aspiration and create value for its users, employees, and shareholders. The business strategy provides the company with the basis for making the right investment decisions.
And so, in 2014, he founded Productboard , a product management system that incorporates customer feedback and insights to help product teams build better products. Use it to make better product decisions. Information from the front lines is critical when helping product decision-makers prioritize what to build next.
Listen to the audio version of this article: [link] What Is a Product Portfolio Strategy and Why Does It Matter? A product portfolio strategy is a high-level plan that helps you maximise the value a group of products creates. These guide and align the strategies of the portfolio members , as Figure 1 illustrates.
Creating a productstrategy is almost never a matter of answering a few simple questions and figuring it out. They have a solid business but realized that the growth potential there is limited so they pulled me in to help them redefine their vision and strategy. Strategy is not like solving a mathematical equation.
In both instances, Id recommend using an overall portfolio or bundle strategy in addition to the individual productstrategies. If I were in charge of the suite, Id use a portfolio strategy that guides and aligns the strategies of Word, PowerPoint, and Excel. [1] This is where product portfolio roadmaps come in. [2]
A solid productstrategy takes time to build. Here is the method I use for creating a productstrategy that makes sense. When I talk to the startups I consult to , or with the CPO Bootcamp participants, I always say that building a solid productstrategy isn’t like solving a math equation.
If you thought there were a million ways to define product management, productstrategy might have it beat by a longshot. Just think about how many ways productstrategy is defined within your own organization. It’s the number one thing that makes productstrategy both challenging and frustrating at the same time.
But how does this translate to product management and organizational strategy? This perspective can help product managers identify root causes of challenges, anticipate unintended consequences, and understand how small changes in one area might ripple across the organization. Let’s talk in the comments! Interested in More?
September is right around the corner and that means the 2025 strategy season is here for many of us. For all you product managers out there, here’s something that’ll help you energize stakeholders and separate the pretenders from the contenders when it comes to influencing your product priorities for 2025, and it won’t cost you a dime.
What Is ProductStrategy Exactly? And Why It Matters Productstrategy is a creative act, to “do something new,” approaching an opportunity from a different angle. — Self So what exactly is productstrategy? Why is it important if I have a solid product management team?” I snapped out of la la land.
Expanding on a recent post ( Revenue Goals are Not Company Strategies ), I’ve been seeing lots of maker teams (product, engineering, design) struggling to form productstrategies without a company strategy to hang them on. If these strategies don’t hang together, we each hang separately.
If it is not clear who the users are and why they would want to interact with the product, it will be hard to decide which items should be in the product backlog and how important they are. Additionally, you should be confident that your strategy is correct, and you should have data to support your view.
Days 3160: Align Strategy and Team 3. Meet Each PM individually to see where theyre swamped or excelling. Recommended Templates ProductStrategy & Roadmap Review : Uncover your biggest alignment gaps. Handling Tensions & Growth Q : We had a new product built in silos, zero product engagement.
As a freshman NCAA swimmer, I was excited and terrified for the first team meeting. Jack Welch Product strategists = coaches You, as the product strategist, are the coach. The productstrategy acts as the playbook for the team, taking them to victory. As a product strategist, you are the coach for your athletes?—?err
For example, ensure that the individual’s role and responsibilities are clear; help the person grow as a product professional, be it by coaching and mentoring them or by encouraging them to attend training courses; offer clear and helpful feedback and hold them accountable for meeting agreed goals.
Here’s the easiest way to marry company strategy and productstrategy. While meeting those goals is critical to your organization’s success, financial goals themselves aren’t the same as strategic goals. The Downside of Multiple ProductStrategies Here’s the first thing you SHOULD NOT DO. Impossible!
Instead of preparing perfect presentations for the boardroom, successful product managers: 1. Incorporate diverse viewpoints into productstrategy 4. As organizations grow, product management roles typically become more specialized and focused on smaller components of the overall productstrategy.
Guest Post by: Lee Atkins (Mentee, Session 7, The Product Mentor) [Paired with Mentor, Jordan Bergtraum]. Truly understanding your customers and finding ways to improve your product is an overwhelmingly daunting task. One method that Product Managers are turning too is the Customer Advisory Board. Setting it up. Not locked in.
Strategy and enabling your team to solve problems makes the difference between a boss and an impactful leader. In this series, I look at what I wish I had known when I started as Head of Product… Summary Understanding strategy allows you to effectively delegate, motivate and align so you can move from a nice boss to an effective leader.
The key results state the specific criteria that have to be fulfilled to meet the objective. To make this more concrete, let’s look at an example: Objective : Grow the product management team. Key result 1 : Three product managers are hired. The fourth row lists the product’s features. and Android 14.0. It depends.
That brings us to the topic of a single market strategy versus strategies for each product and which approach has more strategic benefit to your organization. Customer Value Your target customers are concerned about one thing – executing on their strategic and operational priorities to meet their own business goals.
Nominate a great product manager you know today @ [link] ! Thank you to everyone who made it to our latest roundtable meet-up of The Product Group at Digital Ocean , as well as to our other sponsors, Yext , BKLYN , InVision , SUMMIT , Balsamiq Studios and Sunshine Suites. Product Culture from the protagonist to solving.
Not tied to a solution : Despite its name, I recommend keeping the product vision free from assumptions about the actual product or solution. This allows you to pivot, to change the productstrategy and the product while staying grounded in your vision. Who Owns the Product Vision?
This includes a sound understanding of the market, the user and customer needs, and the competition as well as solid product management skills such as the ability to develop an effective productstrategy and an actionable product roadmap (as I explain in more detail in the article The T-Shaped Product Professional ).
If you say yes to every request, you are in danger of creating a Frankenstein product—a product that is a collection of unrelated features, offers a weak value proposition, and gives rise to a poor user experience. Decline stakeholder requests if they aren’t aligned with the productstrategy. 7 The Roadmap is Speculative.
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