Product strategy manifests as a collection of bets, investment decisions to do something or not, to do things now or later. A business case requires you to compare the predicted costs with the expected benefits. Your problem statement must articulate the expected benefit in economic terms to support your decision […]
Stunting Collaboration Before It Can Begin
Your process can prevent collaboration. The language you use in your problem statements can stop collaboration too. When you use proxy variables instead of economic measures of outcome you prevent your teams from collaborating and you reduce the likelihood of achieving product success.
Uselessly Wide Estimation Ranges
Estimating with ranges requires a level of transparency which may be uncomfortable because you are acknowledging what you don’t know. Doing this, however, cascades into multiple positive consequences. This is also a necessary component of outcome orientation.
Biasing with Problem Statements
Good product management is understanding the problems your customers want to solve, how your customers get value from solving those problems, and figuring out how best to help them. We need a little help to actually understand those problems from the customer’s point of view. Even good product managers will […]
Problem Statements Solve for SomeWhen
There is more to identifying who’s problem you’re trying to solve – you need to also have a sense for the context in which they experience the problem. Problem statements solve for someone, and good problem statements also solve for somewhen.
Problem Statements Provide Purpose
Every company competes in a dynamic market. Staying the course is drifting off course. When you don’t use problem statements to express your intent, there are no signals to help your organization stay on course. Your people lack clarity, and therefore make mistakes.