Product Strategy - Understand the "Why"
This template will help you to understand the product in a 360 0verview.
The focus of this tool is to recollect information about the business (goals, desires, and needs), users (customer journey, and user vs customer), data (north star and key metrics), technology (ecosystem, and production), and the product itself (enablers, uniqueness, and drivers).Once the information is collected, you can create a hypothesis to validate your product.
Instructions:
Start to fill the template from left to right and up-down.
The first column is about the business, so get a deeper understanding of how the business works, what are their goal, vision, strategy, and desired outcome.
The second column is about the product and its users. Remember that you can have Customers (who buy the tool) and Users (who are the people that are going to use the tool)
The third column is about the customer journey and process. Be very explicit about the touch points and processes that you are going to affect with your product.
The fourth column is about the Market, channels, and Production. Try to understand how the product is perceived in the market, how you are going to distribute it, and how you are going to produce it.
The fifth column is about Enablers, drivers, and Ecosystems. Think about the difference between your product against others and how your ecosystem is going to support this product,
The sixth column is about Data, uniqueness, and benchmark. What are the metrics you are measuring, what is the differentiator, and who are your competitors?
The seventh column is about your business model and budget. Understand what is the pricing model, structure, and GTM strategy. In addition, understand what is the budget available, in order to forecast your plan.
This templates was created by Michel Hauzeur.
Get started with this template right now.
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