1 tip & 3 resources per week to improve your Strategy, OKRs, and Discovery practices in less than 5 minutes.
🛠️ How to Stop Saying Yes to Everything in Your Product Strategy
How to Stop Saying Yes to Everything in Your Product StrategyDear Reader, Three weeks ago, I shared with you Why you don’t get Value from your Product Strategy. Today, we're going to talk about the How. Making your Product Strategy decisive means making choices that help answer "What does this allow us to say no to?" Imagine a b2b SaaS Analytics software called Analytico. If your Product Strategy says you target "Companies building Digital Products," every stakeholder conversation will go like this: "We need customizable dashboards to meet a company's branding." - "That sounds reasonable." "We need a data import from Shopify" - "I guess we could do that." "We need native Android and iOS SDKs" - "Sure, companies might need that." You don't have a basis for saying no to any of these. But if you break down your audience into comically narrow segments, you shift the conversation. You can break "Companies building Digital Products" down by many criteria: Business model, industry, revenue, number of employees, geography, technology used, etc. This might lead you to a segment like "European Web-first eCommerce companies making 10-50M€ per Year in Revenue." Nobody knows exactly if this is the right segment. It's an informed assumption. But at least this choice shifts the priorities: "We need customizable dashboards to meet a company's branding." - "No, our customers are scrappy and don't represent their data to the outside." "We need a data import from Shopify" - "Yes, 75% of our target customers run on Shopify." "We need native Android and iOS SDKs." - "No, there are only 100 native eCommerce apps in the European App Store, and none of them fall within our target segment." Other possible tentpoles you can establish to make your Strategy conversation more decisive are:
Next week, we talk about how Analytico can ensure its Product Strategy is Layered. Did you enjoy this one or have feedback? Let me know and reply. Hearing from you is what motivates me whenever I sit down to write this newsletter. If this newsletter isn't for you anymore, you can unsubscribe here. Thank you for Practicing Product, Tim Good News!There are a few tickets available for my 1-day Product Strategy workshop in Cologne on November 14. Learn how to navigate the practices of Product Strategy with confidence.
What did you think of this week's newsletter? As a Product Management Coach, I guide Product Teams to measure the real progress of their evidence-informed decisions. I focus on better practices to connect the dots of Product Strategy, Product OKRs, and Product Discovery. |
Product Practice Newsletter
1 tip & 3 resources per week to improve your Strategy, OKRs, and Discovery practices in less than 5 minutes.
Product Practice #342 The OKR Trap:Reporting vs. Progress READ ON HERBIG.CO PUBLISHED Nov 12, 2024 READING TIME 3 min & 04 sec Dear Reader, Similar to being focused on Discovery motions, but missing Discovery decisions, simply filling in OKR templates will lead to reporting, but not measuring progress. OKRs that report numbers try to get a template-based Objective right and define a Key Result as something with a number. OKRs that measure progress take care of the hard conversations through...
Product Practice #341 The Context Matrix READ ON HERBIG.CO PUBLISHED Nov 8, 2024 READING TIME 2 min & 11 sec Dear Reader, Every level of product management involves two areas: creating context and making sense of it. While creating the context partially depends on the environment you work in, making sense of the context mainly depends on the hard skills a product team has. For Product Strategy, the context consists of internal and external data points about the market, your capabilities, how...
Product Practice #340 How to Navigate Product Discovery Like a Map READ ON HERBIG.CO PUBLISHED Nov 1, 2024 READING TIME 4 min & 51 sec Dear Reader, “We need to complete all six Discovery phases in order." "Let's perfect that JTBD statement before we talk to users." "Our process requires detailed one-pagers before any customer interviews." Does this sound familiar? These are examples of dogmatic defaults: Teams cycling through the same tools in the same order, regardless of context. While...