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CHAPTER 66Product Strategy

Now that the company objectives are clear and the product vision and principles are in place, the leaders of the product organization (in this case, the CPO, the CTO, and their managers) need to update their product strategy to deliver on the company objectives.

Note that there is no guarantee that they will be able to come up with a way to do everything the board is hoping for in the year.

If the product leaders determine this is just not plausible, then the leaders will need to raise this back up to the CEO to either consider increasing funding or reducing some of the expectations, or possibly a blend of the two. But before that can be known, they will need to work closely with the product teams to determine what they believe they can do.

It's also important to note that, while the company objectives are annual, the product team objectives are quarterly. So, the product leaders and product teams have the ability to adjust course based on progress, obstacles encountered, new learnings and new insights, and new opportunities uncovered.

As a reminder of the big picture regarding product strategy:

Recall that a product strategy begins with focus on a small number of truly important objectives.

Then we will search for insights that can be leveraged to make a real impact on these company objectives.

Next, we will map the insights into action, which means ...