Free product strategy template for defining vision, goals, and strategic initiatives. Comprehensive framework helps product leaders align teams, prioritize work, and communicate strategy effectively.
Much like my feeling with “product management”, product strategy is not strictly a science but more of an art. It is also probably never finished.
This document doesn’t mean you’ll have a perfect product strategy but I use it to jog my memory on all the things I need to think about.
Enjoy.
How do you sum up what your team is doing in a sentence? Why is this important?
What is the key output metric that you are trying to change? What are the leading metrics that predict this? Check that metrics are:
What are the areas that your team is responsible for?
Who are the key stakeholders involved?
| Role | People |
|---|---|
| Responsible | [the team doing the work] |
| Accountable | [the PM] |
| Consulted | [stakeholders whose requirements need to be taken into account] |
| Informed | [stakeholders who need to be kept up to date] |
This should explain what the focus of the team is. We need to pick our battles based on what really matters, and we need to limit the number of major problems we’re trying to solve at once.
Things to think about:
Typically this should be presented in a visual framework to aid communication, e.g.:
You may want to include a link to a roadmap or some bets.
This should explain why we are focused on the areas above. It should draw on:
Whilst it may be helpful to link to a long list of resources, the Product Strategy doc should contain the key slides / charts themselves and be a self-contained justification for the points of focus.