As we get closer to the end of the year, most companies are putting the final touches on their 2020 product strategies. Haven’t made progress? You’ve still got time. Read about our framework for creating a meaningful, compelling, and actionable strategy for next year and reach out if you want help.
3 parts of a 2020 product strategy:
1. Where Are You?
Start with the present. It’s hard to know where you want to go, if you don’t know where you are. We personally start with your customer experience.
We analyze how well you are meeting your customers' needs at each phase of their lifecycle. Then, we layer on an analysis of your key business results and the health of your technical implementation.
In the end, you get a comprehensive current state analysis where you can start to clearly see your core problems and biggest opportunities.
2. Where Do You Want To Be?
This is your product vision. What do you want the world to look like at the end of 2020? What do you want your customers to say about you? What do you want your business results to be? What do you want your technology stack to look like?
This vision should be clearly tied to the problems and opportunities you found in your current-state analysis.
3. How Will You Get There?
This is not a list of projects. Start with themes of work that you hypothesize will get you from where you are today to where you want to be tomorrow.
Once you've developed your themes, determine your focus by prioritizing and allocating resources across them.
Finally, you can align your backlog and projects to the themes and allocation you have created. Your themes are your anchors that bridge your projects to both your current state analysis and your vision.
Strategy is not fixed. It is never done.
“Strategy is a living, breathing container for change & learning.” It is a framework for you and your team to align around and to test and learn into your hypotheses.
If you want help implementing a robust 2020 strategy, reach out about either our consulting offers (where we partner with you on this process) or course offerings (where we support and coach you every step of the way).
This article is a modified version of our newsletter, to read our 09/2019 newsletter please click here.