Saved by Emilie Kormienko
Getting better at product strategy
Broadly, the best way to get better at developing strategy:
- Spend time understanding your market (including your competition)
- Spend time understanding your customers and their needs
- Spend time crafting and executing strategies — and learn from those experiences
- Study colleagues who are great strategic thinkers
- Read about strategy
Lenny Rachitsky • Getting better at product strategy
Mission → Vision → Strategy → Goals → Roadmap
- Mission: What are we trying to achieve?
- Vision: What does the world look like when we’ve achieved it?
- Strategy: How will we achieve it?
- Goals: How will we measure our progress towards it?
- Roadmap: What do we need to build to get there?
Lenny Rachitsky • Getting better at product strategy
Being good at strategy is also one of the defining characteristics of a senior Product Manager. For good reason — a well-crafted strategy can change the trajectory of a business, while a bad strategy is a huge waste of time and money.
Lenny Rachitsky • Getting better at product strategy
To develop a winning strategy, you have to get three things right: ☝️ The actual strategy 👏 Articulating the strategy 🤝 Acting on the strategy
Lenny Rachitsky • Getting better at product strategy
The Minto Pyramid Principle:
- What is the current situation?
- What is the complication?
- What is the solution?
- How do we achieve this solution?
Lenny Rachitsky • Getting better at product strategy
“A good strategy is, in the end, a hypothesis about what will work.”
— Michael Porter
Lenny Rachitsky • Getting better at product strategy
A strategy is your plan to win.
Lenny Rachitsky • Getting better at product strategy
Our team then dove into each of these tracks — developing hypotheses, ideating on solutions, and launching dozens of experiments to make steady progress towards our goal.
Lenny Rachitsky • Getting better at product strategy
- Team Mission : Make it easy and fun to book a home on Airbnb
- Team Vision : If you see it, you can book it
- Team Strategy : Transition the Airbnb marketplace from a “Request to Book” model to an “Instant Book” model, by (1) giving hosts all of the tools they need to be successful with Instant Book, (2) incentivizing hosts to enable Instant Book, and