Product Strategy
My product strategy pet peeves
I'm no strategy expert, but I've seen strategy done well and I've seen it done not so well.
It's not as easy as saying "oh look, there's a good idea," "oh look, there's a problem that needs solving," or "oh look, there's a white space where there are little to no competitors." That's why it's called "strategy."
I've lost track of the number of times I've heard a sales or account executive say, "The market is asking for it." But really what they're saying is "a few of our clients are asking for it" or "our competitors are offering it."
These are two major pitfalls in going after market problems, because
Your market is not just your customers. Your market = your customers + competitor's customers + non customers
Market problems are not dictated by what your competitors are offering.
Finally, whether the timing is not quite right or there's not an appetite to pay for it, some market problems are best left unsolved.
What factors inform your approach to strategy? Where are the biggest challenges?
Watch the video below for a quick snack about my insights from watching kids try to do "the worm":