In the early days of a company, getting product strategy right is way more important than perfecting sales, marketing or any other part of your business.
While all these things are important, you have more immediate control over product strategy, but also if you get it wrong it will kill you far quicker.
In my mind there are 4 major elements to product strategy that need to be addressed:
- Ensuring you are addressing a significant problem
- Ensuring that problem exists in a growing market
- Establishing an extendable brand
- Building defensible moats so that you can’t be copied
That was the theme of my recent talk at Web Summit in Lisbon. You can watch a video of the talk below and because so many people asked for them I’ve embedded the slides below that.
If you’ve got any questions on my talk or slides leave them in the comments – we’ll try and address as many of them as possible in future posts.