steps & tools to create a successful product strategy
TRANSCRIPT
Steps & Tools To Create a Successful Product Strategy
2 problems
● Many company’s strategies suck
● Most available material is superficial
Nacho BassinoOver 16 working with
digital products.Passionate about
discovering better ways to build them
Group Product Manager2012 - 2016
Head of Product Development2016-2017
Speaker, coach, trainer2015 - current
@nachobassino
medium.com/@nachobassino
linkedin.com/in/juanbassino/
Chief Product & Technology Officer2018 - current
Group Product Manager GameLab2009 - 2012
Part 1Why most product strategies suck?
“Bad strategy is the active avoidance of the hard work of crafting a good strategy”
Richard Rumelt “Good Strategy, Bad Strategy”
Usual problems:
● Excuses for not defining it
● Poorly communicated
● Quarterly vs Longer term
● Wrong flight level
Flight Level
● “Increase sales 40%”
● “List of 40 strategic initiatives for this year”
● “Duplicate conversion through the personalization of the experience”
What is your top problem with strategy?
Part 2 - Why should we care?
The link from Vision to ActionHow to define Goals and assign Resources
Alignment
Focus and Positioning
Scale and consistency
Part 3How to create a good
Product Strategy
Summary
0. Gather Information
Customer Own Market
1. Generate insights
What are Insights?
Insights are actionable learnings: the identification of a problem, a tendency, or an opportunity that can radically change the game.
Why Insights?
An insightless strategy is simply following a hunch.
Frameworks to think about insights
Ten Types of Innovation - Bryan Quinn
Tools
Core value proposition + ERRC Opportunity Solution Tree - Upper part
3 Horizons of Growth - McKinsey
Ride-share example:Core value proposition +Eliminate, Reduce, Raise, Create
Core value proposition + ERRC Opportunity Solution Tree - Upper part
3 Horizons of Growth - McKinsey
Reduce operation cost example:Opportunity Solution Tree
Core value proposition + ERRC Opportunity Solution Tree - Upper part
3 Horizons of Growth - McKinsey
3131
CULTURE DECK SU
PER
WO
RKSH
OP
Simplificación
2x Mobile
5x Producto XML
2020 2021 2022
Automatización
Expansión Receptivo
Data
2. Select
Focus &Positioning
DHM - Gibson Biddle 70/20/10
Strengthen the core
DHM - Gibson Biddle
DHM - Gibson Biddle 70/20/10
Strengthen the core
3. Objectives and Hypotheses
Objetivos y Horizontes de tiempo
Horizonte de tiempo Tipo de objetivo
1er Horizonte - core del negocio Objetivo normal, North Star
2do Horizonte - expansión Crecimiento y retención YoY
3er Horizonte - apuestas # de validaciones
4. Synthesize
Kernel Model - Richard Rumelt Drivers Model
What is your top problem with strategy?
Conclusion
Summary
How does it fit with everything we already do?
Resources
● Strategy summary article on Medium!
● Insights article on Medium
● Upcoming book Product Direction
● Slides: leanexperimentation.com/slides
● Good Strategy, Bad Strategy - by R. Rumelt
● Gibson Biddle's - 12 tools to define Strategy
● Marty Cagan’s articles on Strategy
Your turn - Help me out!● NPS
https://es.surveymonkey.com/r/L22ZP6J
● Let’s keep in touch!○ www.leanexperimentation.com
○ Read my posts on Medium
○ Contact me on Twitter | Linkedin | [email protected]