Implementing Product Strategy

The most unexpected (and my favorite) byproduct of this newsletter has been the serendipitous conversations stemming from reader comments. And one recently asked me to think beyond just crafting product strategy and talk through “operationalization”. The below is our (cleaned up) email exchange, where I lay out all the ways strategy doesn’t stick in an organization.

• there is no strategy (i.e. you just list out business targets or feature ideas)

• there is no standard way to document or iterate on strategy

• there is a strategy but it's mis-aligned across functional pillars

• there is a desire to iterate on the strategy because (planned / unplanned) event

• there is a strategy but it's not well documented or disseminated

• there is a strategy but it’s unclear which roadmap items move the needle

• there are gaps in the roadmap when compared against the strategy

• the costs (people, infrastructure) of executing the strategy are unclear

• there is a need to assess how an investment (or divestment) fits the strategy

• a product idea needs to be pressure tested against the strategy (yes or no, ROI)

• there is work underway that doesn't map to the strategy

• the strategy is not producing the desired results (and in the desired timeframe)

• it’s unclear how well employees / partners understand the strategy

• the strategy needs to be shared beyond the product team (GTM, analysts, board)

• there needs to be a retrospective on the strategy and business outcomes

• a decision / trade-off needs to be revisited to ensure it was aligned strategically

• multiple strategic alternatives need to be compared before picking a path

• the strategy needs to be looked at from a competitor’s point of view

That’s almost ~ 20 things that could be going awry as you attempt to implement a product strategy. How do you make sense of it all?

All of these issues can be traced back to 2 key concepts:

1. legibility - how clearly is the strategy articulated

2. synchronicity - how swiftly does action follow strategy

I’m borrowing (and expanding) these concept from Kevin Kwok; he uses them to describe systems, particularly people organizations. In other words, when it comes to product strategy, how you communicate it to people and how you align people dictate whether you’ll successfully be able to implement.

With legibility, you have to utilize different mediums (docs, slides, wikis, flyers) and channels (all hands, 1:1’s, offsites, QBR’s). Repetition is key, and effective executives understand how often and through which means to repeat until the strategy is absorbed.

With synchronicity, you have to leverage operational scaffolding (OKRs, planning cycle, product roadmap) and incentive structures (compensation, recognition, scope). Buy-in is critical, and successful leaders know how to line up the organization for smooth execution.

Legibility and Synchronicity (along with Composability and Affordability) are the 4 dimensions of a coherent strategy (see visual below and link in further reading).

I’d love to hear from readers on the lessons they’ve learned trying to implement product strategy - please chime in via comments👇. And if you enjoyed this post, please consider subscribing.

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further reading / references

• Legibility and Synchronicity (along with Composability and Affordability) are the 4 dimensions of a coherent strategy

• here is the podcast (North Star w/ David Perell) where Kevin Kwok explains the concepts of legibility and synchronicity (along with some extreme examples)

• these notes from Good Strategy, Bad Strategy go into more detail on all the dysfunctions that prevent and impede strategy implementation in companies

• Illuminating Product Strategy provides a template for pressure testing legibility

• Radical Focus demonstrates how OKRs can be a tool for achieving synchronicity

• this First Round Review article lays out a “product strategy stack” which connects many dots

• this post has a handy infographic on Why Does Our Strategy Keep Changing?

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childish drawing / interpretation