Want to move product development fast? Slow down and set a vision first!
The most innovative companies in the world are known for their speed and risk-taking. They have fostered a culture of "freedom within limits", where everyone understands the purpose of the business and has the autonomy to make decisions. But how do these companies maintain momentum and stay on track?
The answer lies in a clear and widely shared vision. In this series of three blog posts, we'll explore the importance of a product vision, how to develop it, and its role in the evolution of your product.
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Connecting the present to the future
If you don't have a vision, your teams will struggle to understand how their current work fits into the future of the product and the business. A product vision acts like the safety barriers on the side of a road, providing the freedom to move in a particular direction while remaining aligned with long-term goals. It connects the purpose of your product and the problem it solves to what your product does and who it serves. As products evolve and mature over time, a vision must withstand these changes.
What to avoid:
- Avoid having a vague or overly ambiguous vision. Make sure your product vision is clear, concise, and easily understood by all team members. Lack of precision can lead to misalignment and confusion.
- Avoid making your vision too rigid. While a vision should resist change, it's important to remain adaptable and open to adjustments based on market dynamics and customer feedback.
- Avoid neglecting regular communication and reinforcement of vision. Continually reminding your team of the vision and its relevance to their work helps maintain focus and motivation.
From strategy to execution
There is a fine line between business strategy and product strategy, as the product serves as the vehicle for the execution of the organization's strategy. Defining the vision of your product allows you to link the long term to the short term. This helps bridge the gap between your product's purpose and the features it offers. This connection is crucial for aligning your product, sales and marketing teams, collectively developing Agile ways of working, and providing them with a clear plan for execution.
What to avoid:
- Avoid disconnecting your product vision from the overall business strategy. Make sure your product vision aligns with and contributes to the larger goals of the organization.
- Avoid silos and lack of collaboration between product, sales and marketing teams. Foster open communication and regular cross-functional meetings to ensure alignment and effective execution.
- Avoid losing sight of the customer's perspective. Put the customer at the center of your vision and strategy to ensure your product meets their needs and solves their problems.
Make your product vision operational
Moving away from inconclusive philosophical statements, we offer an operational approach to framing your product vision. This approach will help your team prioritize their work based on what will help achieve the vision. Your product is more than a set of features; it encompasses several aspects of a business model, including customers, issues, value proposition, revenue, and more. By defining your product vision, you ensure that all of these elements work harmoniously together.
What to avoid:
- Avoid a vision that is too complex or muddled, difficult to understand or implement. Keep your vision clear and operational to facilitate decision-making and effective execution.
- Avoid losing sight of the fundamental value proposition of your product. Make sure your vision and resulting actions are aligned with the core problem you are solving for your customers.
- Avoid neglecting the ongoing assessment and adjustment of your vision. Continually assess market and customer needs to ensure your vision remains relevant and adaptable.
Next steps
We explained why, in order to go fast, it is essential to slow down first and define a clear product vision. In part 1 of this blog series, we explored the importance of a vision to connect the present to the future and align your teams. Keep following us for part 2, where we'll dive deeper into translating your vision into a concrete roadmap and product offering.
Want to learn more about how a well-defined product vision can lead to success? Want to take your product development to the next level? Our team of experts lays the foundation for developing and validating products are at once: what customers want, and aligned with strategic business goals. Check out our recent success stories, or get in touch now to learn more.
