Product Strategy Toolkit

Building a product strategy can be intimidating. There are so many questions to consider and every PM has their own flavour.

I always freak out when I’m asked to pull together a strategy with a few days notice.

“What should I include in a product strategy?”

Don’t worry, this Product Strategy Toolkit will show you the end to end process to create a great product strategy, so you can influence others like a ninja.

Creating a Great Product Strategy

A great product strategy is stubborn on vision but flexible on details. It’s stubborn on the business goals it needs to hit and the customer problems you are solving. But flexible enough to cater for changes in market, timing and product scope.

How To Come Up with a Product Strategy?

Coming up with a product strategy is 80% mindset, and 20% doing the work. 

"A Product strategy is a set of choicesthat strives to be unique by targeting the specific needs of your customers...with the goal to make above-average industry profits"

It's a set of choices of deciding what to do and what not to do. It should paint a picture of what the future might look like, the current landscape, and provides a solution to a validated customer problem.

As you progress from discovery to delivery, it’ll often include details around product features, user flow and design, and technical specifications.

What Makes a Great Product Strategy?

A great product strategy delivers the following outcomes:

• A great product strategy is stubborn on vision but flexible on details
• It aligns with the goals and objectives of the business. Making sure the company is spending time on the right thing
• It communicates to the delivery team what you are building, the metrics you want to move, so they can develop the right solution
• It helps other cross-functional teams to start preparing (money, time and people) to support your product across its life-cycle
• The most important thing of all — it keeps everyone moving forward, as the future is unpredictable

There are no shortcuts

As a PM, you are the sole owner of the product strategy. It's your sacred handbook and you're also responsible for promoting it to the team and rest of the organisation. A great product strategy requires deep thought,  research and collaboration.

There are no magic wands that will get you there without the above 3 but there are some tools that can definitely help you along the way. In our self-paced course Product Academy, we've broken down step by step how to build an awesome product strategy that delivers on every single outcome your customer and business is looking for. The toolkit below has all the ingredients you need to start mapping out the product strategy.