In 30 Seconds, What is Your Strategy?
February 12th, 2009 | Product Management, Strategy
What if you meet your CEO in the elevator and are asked to explain your product strategy before you get off? (For you second floor, her top floor.) Not much time.
So quickly, you have to convey the following five points:
- The success statement for your strategy
- How your product will achieve success
- What you (and a team) will do to achieve success
- The plan to achieve success
- And most importantly… How your strategy is aligned with the corporate strategy
With the assumption you are responding to a question that leads you to describe the mission for your product this year. Your response will flow something like this…
Everything is going according to plan. All our strategies have been defined and are ready for execution. We are working on achieving two million in revenue this year by solving world hunger. The product team has planned the 2.0 release, development is underway and it will be generally available in February. Full commercialization will be complete in March. To achieve our plan for revenue in May, the Sales team will be trained and begin to execute their strategy in April. Our release will improve the quality of life and provide a return on investment to our investors. Lastly, we continue to monitor market trends for future plans and conditions that may alter our current plans.
I think it is important that the CEO walks away knowing that you have a strategy, a team that is executing their strategies and that it is all aligned with the company strategy. Ideally, you want to hear a “tell me more” type response.
Thoughts?
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This sounds almost like the high-level pitch a screenwriter might give to a movie producer. My favorite–possibly apocryphal–pitch is for the movie “Alien” where the pitch was, “It's 'Jaws'–in space!”
Can you describe what you do as a PM in that manner? What your business does? What your current strategy is? And make it so exciting and simple that they're begging for more?
I think, really, what the best PMs do is tell–and listen to–stories.
- Chris
http://twitter.com/chriscummings01
I think you are mapping the pitch to your elevator pitch… the one or two sentences that describe what your product is. I have always like the for, who, the, that, unlike, our product format.
http://www.joelonsoftware.com/articles/JimHighs...
Stewart
Stewart you are sharing great info on the site. Keep it up!
Stewart you are sharing great info on the site. Keep it up!
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