How do I create an effective product strategy, quickly?

Good Strategy - templates and tips

A good Product Strategy is simple and focused. Whatever your product is, and whatever pain points it solves, focus on your strengths.

How do I create an effective product strategy, quickly?

1. Do it as a team: take these steps together with your team.
2. Answer this: “Where are we?”: Define the status of your product, its place in the market. You can use a SWOT, or a PORTERS, and summarize the state of the market.
3. Answer this: “What is our best guiding policy to conquer the market?”: Where are the opportunities? Where should you focus.
4. Answer this: “What are the immediate actions we must prioritize to address points 2 and 3 above?”. This is your immediate action list!
5. GO!

What bad strategy approaches should I avoid?

1. Avoid jargon that doesn’t actually guide decisions or directions. Test your strategy out on friends and colleagues – does it give a clear idea of what your company should do?
2. Avoid mission statements or vision statements that just talk about profit and growth. This is not strategic.
3. Avoid the “If we all work really hard, we will prevail” strategy.

What are the two principles of product success?

These two principles will ensure your best chances of success:-
1. Focus all of your effort on building the elements that are your expertise, and that differentiate you from the competition. All effort here will accelerate your advantage.
2. Buy-in, or partner, on everything else – i.e. do NOT re-invent, or re-build the wheel!!

Are you short on time?

Use these templates to help with business best practice:

Innovation Templates and Guides

Hackathon Rollout Guide – Getting Ready: Generate Excitement and Avoid Mistakes (PPT & Keynote)

From “green light” through to your event day, this guide helps you roll out your Hackathon. Avoid common issues, and get pointers for a great event.

See: Hackathon Rollout Guide – Getting Ready: Generate Excitement and Avoid Mistakes (PPT & Keynote)

Hackathon Task Checklist and Status Dashboard (Excel)

Keep track of your Hackathon Event tasks: This Hackathon Task Checklist is based on years of experience, and makes event rollout simple.

See: Hackathon Task Checklist and Status Dashboard (Excel)

Hackathon Budget Sheet Excel Template

Requirements and Costs vary massively between Hackathon events. Use this Excel Hackathon Budget Template to select which line items you need, and then to populate with real figures for your target Venue, Participant count, and aspirational format.

See: Hackathon Budget Sheet Excel Template

2 Day Hackathon Guide – Simple Step by Step – plus the mistakes to avoid

Running a 2-Day Hackathon – Use our Simple Steps and avoid common issues. Keep the event moving, and your participants happy!

See: 2 Day Hackathon Guide – Simple Step by Step – plus the mistakes to avoid
See all Innovation Templates and Guides

Using Hack Events and Hackathons for Innovation

Hackathon Rollout Guide – Getting Ready: Generate Excitement and Avoid Mistakes (PPT & Keynote)

From “green light” through to your event day, this guide helps you roll out your Hackathon. Avoid common issues, and get pointers for a great event.

See: Hackathon Rollout Guide – Getting Ready: Generate Excitement and Avoid Mistakes (PPT & Keynote)

Hackathon Task Checklist and Status Dashboard (Excel)

Keep track of your Hackathon Event tasks: This Hackathon Task Checklist is based on years of experience, and makes event rollout simple.

See: Hackathon Task Checklist and Status Dashboard (Excel)

Hackathon Budget Sheet Excel Template

Requirements and Costs vary massively between Hackathon events. Use this Excel Hackathon Budget Template to select which line items you need, and then to populate with real figures for your target Venue, Participant count, and aspirational format.

See: Hackathon Budget Sheet Excel Template

2 Day Hackathon Guide – Simple Step by Step – plus the mistakes to avoid

Running a 2-Day Hackathon – Use our Simple Steps and avoid common issues. Keep the event moving, and your participants happy!

See: 2 Day Hackathon Guide – Simple Step by Step – plus the mistakes to avoid
See all Using Hack Events and Hackathons for Innovation

All Business Best Practice

See all Business Best Practice here.

Created : 2020-08-25 08:31:42
Modified : 2020-09-29 21:48:04