How to execute Product Strategy in the Shape Up methodology — Notion template included
Finally, a non-ChatGPT or AI related Medium article 🤖
Yes, you read that correctly, I did not write this with or about ChatGPT. I have been enjoying all the content about ChatGPT use cases, but in this moment I wanted to double click on something from my previous article , Why we transitioned from Sprints to Basecamp’s “Shape Up” methodology, which is Product Strategy. A phrase I believe is thrown around a lot but often lacks substance in terms of execution.
So what is Product Strategy?
Strategy is the pattern of decisions in a company that determines and reveals its objectives, purposes, or goals, produces the principal policies and plans for achieving those goals, and defines the range of business the company will pursue. — Kenneth Andrews. The Concept of Corporate Strategy
Although I do like this summary, I think this diagram below by Reforge helps us better visualize how Product Strategy is the connect tissue between Company Objectives and actual product delivery.
Executing Product Strategy
1. Write it down & make it accessible
Your strategy should be concisely stated within 1–2 sentences and more importantly, easily accessible by the team. I like Notion-izing this on a product wiki and appending it to any other relevant documents such as pitches, go-to-market docs, team onboarding, and more. The very act of typing it out and everyone reviewing it day in and day out helps with alignment, refining said strategy, and empowering your team to execute.
2. Align with Goals and Objectives
Strategy is only as good if you action and prioritize around it with clearly defined goals and objectives (i.e OKRs). Be deliberate and quantifiable in the goals that you set. You should have 1–2 clear goals you’re driving for, depending on the product team or feature you’re working on. All work is prioritized for impact against the goal.
3. Block out time to review
You must diligently review, challenge, and refine product strategy. This could be during a “Cool Down” period or at any preferred time you allocate. As you can see in the breakdown below, the timeframe for strategy is typically 1–2 years. Cool downs are every 6 weeks, so you don’t need to do a strategy audit every single one like some other initiatives on your roadmap. But even if this intentional review is every 8 cool downs (equates to annually), just make sure it happens, key stakeholders are involved, and there are success metrics to show for.
Notion template
I hope this Medium article was helpful as you refine your product strategy. As promised, I put together a Notion template that helps you document your strategy and execute work aligned with the strategy. Feel free to duplicate it and make it your own!
If you made it this far, thanks for reading! Follow me on twitter and sign up for early access to something secret I’m building 🤫 — ProductHub.ai
