The more differentiated & sticky your core value proposition is, the less you'll
need to worry about market trends, as you'll have more and more of a market all
to yourself. Make this your goal.
Few companies find themselves in that position. For the rest, market trends give
us a better sense of consumer demand – what's driving it, how it's evolving,
what it's most responsive to. Understanding those deeply will help you develop
the customer & market intuition you need to create a differentiated product
That being said, keep in mind that what's happening in the market is general...more
For us, product strategy stems from company strategy, so it's first important to
have a firm grasp on where the company strategy is headed holistacally, and why.
Additionally, we serve as a partner function for the entire ProdDev org, so
rather than owning a specific segment of the product, we're responsible for
helping the company zoom out a bit to identify key areas that could make sense
to invest in.
As a result, when working with our exec team it's critical to understand both
the company strategy & priorities, functional strategy & priorities, as well as
the audience we're communicati...more
I encourage my teams to start by understanding their objectives, plans,
assumptions & approach to risk management. We listen carefully and figure out
where the gaps and opportunities lie and how impact & success is defined &
Then, as we develop our strategies, we share early & often – at minimum at the
key stages of defining what our product strategy might become:
* Defining the customer problem & the opportunity size
* Proposing the right solution & the necessary investment
* Defining the go-to-market plan
* Adjusting & iterating post-launch at our Mike Tyson Moment ("ever...more
Love this question as well, and I'll approach it from a couple different
perspectives. First, I'd acknowledge that some markets are so big or fast
growing that multiple amazingly successful winners can emerge. As of today,
Apple is worth $2.8T and Microsoft is worth $2.25T. While I'm sure both
companies wouldn't mind adding their other's market share to their portfolio, I
also think any reasonable person would consider both outcomes desireable.
This example is not to say there's not need to play defense if a market is large
or fast growing enough. Quite the opposite, both companies needed ...more
Our mission as a team is to clarify & accelerate the product roadmap. For us,
clarification means a couple things:
1. Do we know what we aspire to invest in over the next quarter, half year, or
2. Have we clarified our decision / prioritization framework of what causes an
initiative to be above or below the line for what we will commit to?
3. Do we have a shared understanding of the tradeoffs that will occur as a
result of our decisions, and are we ok with the outcomes of the tradeoffs?
On the acceleration front, one helpful lens we've found has been:
1. What are orga...more