The
word 'Product' has a broader meaning and includes any market-ready
solution:
products, services and complex solutions.
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The crucial first step towards creating and aligning strategic
goals and initiatives |
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Your product vision
serves as the load star
for every initiative and action
taken to enhance the product.
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A good product vision
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describes the core essence of a product and where that
product is headed
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explains the higher purpose for what that product
exists in the first place
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sets the direction for where the product
is going and what it will hopefully deliver in the future
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Capture the essence of what you aim to achieve.
Support your product vision by details of who your customers
are, what they need, your go-to-market plan, a differentiated customer value
proposition, the opportunities you have, and the threats that
you face.
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You product vision will:
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Here are a few steps you should take to center your vision and allow it to
guide your product.
Use your business model to inform all strategic decisions. It helps you
describe your key value proposition, go-to-market plans, resources, and how
you will pursue your objectives.
Align Strategic Initiatives
Initiatives allow you to explain the high level efforts that you will invest
in.
The product vision is the overarching goal you are aiming for, the reason
for creating the product. It provides a continued purpose in an
ever-changing world, acts as the product's true north, provides motivation
when the going gets tough, and facilitates effective collaboration.
Ensure that your team and your organization has a clear vision you are
executing towards. Find out if they understand the vision, agree with the
vision, and, most importantly, understand how the work they are doing fits
in to that.
Vision Statement: (Desired End-State) A one-sentence statement describing
the clear and inspirational long-term desired change resulting from an
organization or program’s work.
Oxfam: A just world without poverty
Human Rights Campaign: Equality for everyone
Alzheimer’s Association: A world without Alzheimer’s
Amazon: Our vision is to be earth's most customer centric company; to build
a place where people can come to find and discover anything they might want
to buy online.
PepsiCo: Our vision is put into action through programs and a focus on
environmental stewardship, activities to benefit society, and a commitment
to build shareholder value by making PepsiCo a truly sustainable company.
Tips
Be clear about who you are as a company as well as who you wish to become
Be brief and succinct; choose the words very carefully to say a lot in just
a few words
Think of things in a long-term, broad sense, without sounding generic.
