Product Management Skills
February 12, 2023
Sunday Rewind: Product Strategy for Beginners, Part 2
In this week’s Sunday Rewind, we revisit a 2022 article by Finnish product designer Lassi Liikkanen, where he outlines five essential steps to engaging with product strategy.
First, Lassi emphasizes the importance of understanding the business strategy. This involves observing the strategic direction provided from higher levels of the organization and examining the company’s structure, including hierarchies and levels of autonomy.
The next step is to define the product vision. According to Lassi, the vision is a more stable element than the strategy since reaching the vision’s goal is a long-term endeavor that requires multiple strategic revisions. While the strategy might be updated annually or biennially, the vision remains relatively constant.
Following this, you should identify the core components of the product strategy.
Step four involves focusing your efforts effectively, with Lassi providing various methods to achieve this.
Finally, you need to implement the strategy and evaluate its success.
Lassi concludes by stating that product strategy work revolves around ensuring product success by prioritizing the most critical tasks.