All product companies likely have a document titled Product Strategy, but do they have a real product strategy? Perhaps you’re in charge of the product strategy and want to test and strengthen it. Perhaps you’re a Product Manager feeling the consequences of a strategy that isn’t fulfilling its promise. Do you see any of these symptoms in your product company?
- Direct solutions coming from senior stakeholders, without space for product discovery
- Teams and stakeholders feeling the costs of context switching, working on very different initiatives, and spread thin
- Teams caught by surprises, needing to help other teams working on very different initiatives
- Senior product stakeholders unhappy with PM decisions closer to the work, even if the PMs are technically making decisions that fit within the strategy
- Slick presentations promising upcoming, unvalidated features, rather than focus on opportunities
Alignment is crucial. You can get alignment by directly reviewing decisions, Or, you can share the appropriate information and decision making framework so that others can make smart decisions without the direct oversight. To scale, product leaders can no longer rely on personally approving plans. A leader’s role is to enable their colleagues to make decisions themselves. Especially in the days of hybrid workspaces, it’s all about the flow of information. Your strategy plays a huge role in that information flow.(more…)