4 Steps to Building a Product Strategy

Overview This newsletter post outlines a four-step framework for creating a product strategy. It walks through gathering inputs, building strategic narratives, finding leverage, and making choices.

Key Takeaways

• Collect diverse inputs from customers, market data, and internal stakeholders.
• Craft a strategic narrative that links vision to actionable goals.
• Identify leverage points that amplify impact with limited resources.
• Use structured decision-making to choose the most effective initiatives.

Who Would Benefit

• Product managers and leaders looking to formalize strategy.
• Engineering managers who need to align teams with product direction.
• Technical founders and startup teams building their first strategy.
• Senior leaders seeking a concise strategic framework.

Frameworks and Methodologies

• Input-gathering and stakeholder interview techniques.
• Narrative building (storytelling) for product vision.
• Leverage analysis (Pareto principle) for prioritization.
• Decision-making frameworks for choice selection.