Creating and implementing strategy is a core role of a product manager. To create a winning strategy there are three major steps: determining, articulating and acting on your strategy.
Determining Your Strategy
- Great strategies are problem-oriented, insight-driven, actionable, focused and cohesive.
- Create a path from your problem to your vision.
- Spend time to understand your customers and your market.
- Learn about successful strategies.
Articulating Your Strategy
- Well-articulated strategies are short, memorable, explainable by metaphor and easy to find.
- Examples of well-articulated strategies are Gitlab, Tesla and Salesforce.
- Ask what is the current situation, the complication, the solution and how you get there.
Acting on Your Strategy
- "Good strategy is a hypothesis about what will work"
- Remind people over and over about your strategy.
- Every decision should go through your strategy.
- Be ready to iterate and change your strategy.