A strategy is never finished. It can paint a point in time picture but will evolve as you learn more. This page will show the elements needed for a good product strategy and different ways of communicating it.

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I’ve found that communication is the key, spend a lot of time getting it concise.

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Importance of Collaboration

Even though I am labelling this the Product Strategy thats not necessarily true or at least don’t take that at face value; the strategy is a team effort, you should build it collaboratively.

When building out the product strategy involve members from your cross-collaborative early and often. You will get:

• Sales targets and understanding of your TAM, SAM & SOM from your Commercial Team
• Personas and avenues to your customers from your Marketing Team
• A deeper understanding of your existing customers from your Customer Success Team
• etc..

Building Blocks of a Strategy

The Product Strategy has many elements, it’s important to understand and work on each item. You might not end up communicating each element but they will all help to build towards a bigger picture.

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Note - Each of these items below could have their own page; this document is not meant to go into detail.

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Vision / Mission

Product Vision and Mission are critical elements of strategic product management, helping to guide the development, positioning, and long-term direction of a product. Here's an overview of both concepts:

Product Vision

The Product Vision is a long-term aspirational statement that defines the ultimate purpose and direction of a product. It communicates what the product aims to achieve in the future and how it will impact users or the world.

Key characteristics of a Product Vision:

• Future-focused: It describes what the product aims to become.
• Inspires: It should motivate the product team and stakeholders.