steps & tools to create a successful product strategy

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

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CULTURE DECK SU

PER

WO

RKSH

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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 | nacho@leanexperimentation.com