Thread by @SergeyKuzn2k

How to create a good Product Strategy?

@Reforge released the new long-read article "Product Strategy is Really About Offense vs. Defense".

I liked it. It's a kind of Art of War by Sun Tzu, but for Product Managers.

#product #pm #strategy

Here below is a short version in 🧵👇:

@reforge Product leaders need a framework to ensure they're focusing on the right priorities when creating a strategic portfolio.
- Ely Lerner describes product strategy as offense and defense.
- Why you should try to avoid investments that are neither offense nor defense

@reforge How to Think About "Offense" vs. "Defense" in Your Product Strategy
- "Offense" in the product is any business-advancing investment.
- "Defense" refers to investments made to prevent business losses. Investing in defense protects the business.

@reforge What Does "Offense" Look Like?
- Offensive improve business outcomes (acquisition, retention, monetization).
- Leveraged and compounding
- They make strategy-aligned progress
- Including expanding growth loops, reaching adjacent audiences, and laying the strategic groundwork.

@reforge What Does "Defense" Look Like?
- Defensive work reduces business risk.

@reforge Defense Type 1: Incremental Core Value Prop
- Once you've reached Product Market Fit, you must continue to improve your product's core value prop and user experience to remain competitive.
- Treating this as a defense will help you succeed.

@reforge Defense Type 2: Tech Scaling
- When next scale milestone be reached?
- How long PM teams will scale your tech infrastructure?
- Subtract work time from the scaling milestone to find the start date
- Bet offensively with current cycles
- Compare progress vs projections, adjust

@reforge Defense Type 3: Safeguarding
- Many companies must manage risk, fraud, regulations, and trust & safety.
- When trust and safety become part of your brand messaging and differentiation, they can become offensive bets.

@reforge If it's Not Offense or Defense, Don't Do It:
- If something isn't offensive or defensive, consider whether you should do it.
- Defense of Future
- Momentum metrics
- Overinvesting in product value
- Copying a competitor's features isn't a defense.

@reforge How Do You Put This to Work?

STEP 1: EVALUATE
- Determine if each investment you're making is offensive, defensive, or neither.

@reforge STEP 2: RESOURCE
- Overinvest in offense.
- For "ongoing" investments, such as core experience improvements, limit to 20% to 25% of total investments. For investments where "what is needed by when" is clear (scaling, etc.), resource as needed but use the "work-backward" method.

@reforge Step 3: COMMUNICATE
- Defense is just as important as offense but requires a different approach.
- Defense work isn't about overachieving
- Defense teams are in the crow's nest and should keep an eye out for threats, but also where the point of diminishing returns is.

@reforge Step 4: REASSESS
- Continuously evaluate offensive and defensive initiatives.
- At least quarterly, review your priorities.
- On defense, it's important to evaluate if the point of diminishing returns has moved, so you can continue to tune your efforts.

@reforge Here’s What Happens When You Do This Well
- When you can identify offensive and defensive initiatives - and stop investing in initiatives that are neither - you can make more progress, drive meaningful business outcomes, and increase your chances of success.

@reforge That's a wrap!

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