A product strategy framework is a structured approach to planning, developing, and launching products that will actually sell. It's basically the roadmap that gets you from cool idea moment to actually making something for your customers and they actually love it (which usually means pay.)
Now this is mostly aimed at creating Product Strategy Framework's and not finding Product Market Fit or Problem Solution Fit, you should of course you should you apply a very similar rubric to new product too. Which in it's most basic form is:
- Who is this product for? (your target market or user personas)?
- What problem are we solving and what value will the product offer?
- Why will users care (what's our unique value proposition or differentiator)?
- How will we succeed?
- When and in what order will we roll things out (major milestones or phases, a.k.a. your product roadmap)?
And it should go without saying talking too 100s of clients, customers, users and finding common problems is always always always the way to start this.
Think of the product strategy framework as the bridge between your product vision and your execution strat like the product roadmap and development sprints. It's not about listing every feature you'll ever build; it's about setting guardrails/KPIs and context. This way, even when your team is busy building and iterating, they understand the context and ultimate goal. This differs from a public product roadmap in it's much more inclusive and covers off internal private things, ideas, more precise timelines, team planning, asset allocations but still high level.
Tl:dr A product strategy framework is essentially a structured approach to defining what you're building, why you're building it, who it's for, and how you'll make it successful. It's the high-level plan that connects your product vision to the nitty-gritty of development and go-to-market execution.
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