Product Strategy demystified...sort of
You’re on a quest. Not just any quest, but one where you’re tasked with crafting a Product Strategy so brilliant, even your grandma — who once thought “the cloud” was where angels reside — will cheer for you.
And on this grand journey, there are Good Product Strategy Knights who do things right, and then there are the Bad Product Strategy Goblins who mess things up.
You’re on Team Good Knight, obviously. So, let’s jump into this like it’s the product adventure of a lifetime.
The Great Customer Segmentation Debate
You’ve got two camps here. Good Knights of Product Strategy know that not all customers are your customers. They have a “we only invite cool people to this party” approach — they’re focused, intentional, and don’t waste time trying to please every random person who walks by. They know that trying to cater to all segments is like bringing a piñata to a chess tournament — it’s just chaos waiting to happen.
The Goblins, on the other hand? They say, “Let’s invite everyone!” and the result is a noisy mess where no one’s happy. Picture a wedding where you invite your ex-girlfriend, your dentist, your lawnmower, and your neighbor’s cat. Not ideal.
The Honest Self-Assessment Quest
The Good Knights are like the friend who tells you, “Yeah, that haircut is… not good.” They’re brutally honest about where the product stands, who the competition is, and what the market actually looks like. They do the hard work of figuring out what the product is great at — and what it’s not.
The Bad Product Strategy Goblins? They’ve got the delusion levels of a karaoke singer after three margaritas. They pretend the competition doesn’t exist, that the market is just begging for their product, and that everything will be “fine.” Spoiler alert - it won’t!
The Clarity Crystal Ball
Good Product Strategy Knights have this magical thing called Clarity—they know exactly what their customers need, but more importantly, they know which of those needs they can actually meet. It’s like having a laser-focused grocery list: “Bananas, not dragonfruit.” They prioritize like champions, deciding, “Yes, we’ll tackle this need, but we’ll pass on that one because, hey, we’re not wizards.”
Bad Product Strategy Goblins? They come at you with a scroll of “strategic goals” so long it could be the script for an 8-hour fantasy epic. No priorities, no focus—just a “we can do everything” attitude, like a restaurant that tries to serve sushi, pizza, burgers, and lasagna. Nope!
The Battlefield Dilemma: Head-to-Head or New Turf?
Ah, the classic battlefield decision. The Good Knights are strategic warriors. They ask, “Do we take on the incumbents head-to-head, or do we build our castle on completely new turf?” And they decide based on the actual landscape of the industry—because they’ve studied the map.
The Goblins? They just charge blindly onto the battlefield, either copying what everyone else is doing or trying to reinvent the wheel without knowing if it’s even necessary. Sometimes they try to invent square wheels. Not great!
The Trade-Off Tango
Good Product Strategy Knights are skilled dancers in the art of trade-offs. They know that choosing one path means giving up another, and they’re cool with that. It’s like saying, “Yes, we’re having cake, but no, we’re not having pie because we’re not insane.”
The Goblins? They’re over in the corner trying to serve you cake, pie, and a side of spaghetti. They avoid making decisions at all costs, and as a result, their product tries to be everything to everyone. It’s a buffet, and not the good kind!
Leverage: Using the Company’s Superpowers
Good Knights of Product Strategy? They’re like, “Wait, we have some serious company superpowers here—distribution channels, partner relationships, maybe even a dragon or two.” They use these powers wisely, understanding how to build on what they already have.
The Goblins, though, either ignore these advantages or act like their partnership with the local bakery will somehow guarantee product success. Spoiler alert - It won’t!
Long-Term Gains vs. Short-Term Glory
The Good Knights play the long game. They know that lasting success doesn’t come from a quick sprint, but from smart strategy, building on their company’s core strengths. Think of it as planting a tree that will bear fruit for years, not trying to win the prize for “fastest-growing pumpkin.”
The Goblins? They chase after trends and fads like a dog after a squirrel, not realizing that the short-term advantages they’re banking on are already being neutralized by their competitors. It’s like trying to win a marathon by sprinting the first 100 meters!
Differentiation: Standing Out Like a Unicorn
Good Product Strategy Knights create products that stand out in the market like a neon-colored unicorn at a horse convention. They’ve got concrete value propositions—things that make customers go, “Oh, yeah, I need that!”
The Goblins, though? They rely on fluffy phrases like “the best” and “most delightful,” without ever explaining how their product will actually be those things. It’s like saying you’re going to make “the world’s greatest sandwich” but forgetting to add the damn ingredients!
The Metrics Crystal Ball
Good Product Strategy Knights track both leading and lagging indicators like a pro sports team monitoring every stat imaginable. They know what success looks like in the short term and the long term, and they adjust course based on the data.
The Goblins? They either ignore success indicators completely or only look at the lagging indicators when it’s already too late, like realizing you’ve been driving in the wrong direction only after passing a sign that says, “Welcome to Nowhere.”
Action Plans: Turning Strategy into Reality
Good Product Strategy is like assembling a giant Lego set—you’ve got a clear plan, you know what pieces you need, and you follow through. Every choice is mapped to a cohesive action plan, and risks are anticipated.
The Goblins, though? They toss the instruction booklet out the window, grab a handful of Legos, and hope something cool happens. Spoiler alert—it doesn’t!
Fresh Perspectives vs. Echo Chambers
The Good Knights bring fresh perspectives to their executives. They’re not afraid to challenge assumptions and offer new insights that make the company rethink its approach.
The Goblins? They just nod along with whatever the executives are already thinking, even if it’s leading them into a swamp. Sometimes they even hand the executives a snorkel.
Inspiration Over Rah-Rah
Good Product Strategy? It’s inspiring because it’s real—vivid, actionable, and thoughtful. It makes people excited to get to work because they understand it. It’s not just fluff.
Bad Product Strategy? It’s full of Rah-Rah language, lofty “world-class” goals, and reads like a motivational poster in an HR office. Cue the eye rolls.
Your Grandma Gets It
In the end, the moral of this epic tale is clear: A good product strategy isn’t about sounding visionary or trying to be all things to all people. It’s about deep, nuanced thinking, clear focus, clarity of thought, and long-term success.
So next time you’re working on product strategy, just remember—don’t be a Goblin, be a Knight. Your grandma will thank you :)