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A 10 Step Guide to Building a Bulletproof Product Strategy
- Product strategy is all about identifying, communicating and aligning people to solve a set of problems to offer value in the market.
- To build a bulletproof product strategy, you need to execute the right one, communicate it effectively and then gain full alignment.
- The product manager needs to maintaina balance between meeting the immediate needs and keeping far-sighted vision that every strategy would need.
- It's helpful to start teasing your product's future priorities in casual conversations. That way you're more likely to get honest feedback.
- Document your learnings and prioritize development of solutions based on an ROI.
- Develop 3-4 higher-level product objectives and align them with business objectives.
- Define your key results (OKRs) and include both directly measurable and conceptual key results. Everything in your strategy should have a measurable and observable impact.
- Write in simple language to communicate your message and avoid technical jargon.
- Hold meetings with stakeholders to get their feedback on strategy and to get everyone on board with the prioritization and alignment to the product roadmap.
- A well-researched and communicated product strategy helps to build great and impactful products, points the team in the right direction, and moves the business forward in measurable ways.
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