Getting better at product strategy

Qualities of great strategy: p roblem-oriented: clearly identifies the problem; i nsight-driven: rooted in insights, both quantitative and qualitative; actionable: outlines concrete actions/investments that will solve this problem; focused: has a small number of high-leverage bets; cohesive: create a clear path from the problem to the solution.

• 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

1. What is the current situation?


2. What is the complication?


3. What is the solution?


4. How do we achieve this solution?

1. Short


2. Memorable


3. Is explained with framework or a metaphor


4. Leverages the rule of three


5. Is easy to find (and share)

Qualities of well-articulated strategy: s hort, m emorable, is explained with framework or a metaphor, leverages the rule of three, is easy to find (and share)

1. Mission: What are we trying to achieve?


2. Vision: What does the world look like when we’ve achieved it?


3. Strategy: How will we achieve it?


4. Goals: How will we measure our progress towards it?


5. Roadmap: What do we need to build to get there?

“A good strategy is, in the end, a hypothesis about what will work.”

— Michael Porter

1. Spend time understanding your market (including your competition)


2. Spend time understanding your customers and their needs


3. Spend time crafting and executing strategies — and learn from those experiences


4. Study colleagues who are great strategic thinkers


5. Read about strategy