Chief Product Team 
This post will answer the question of what the truth really is about product vision planning.
Overview
A product vision is a compelling statement that describes what you want your product to be at some point in the future. It also includes your strategic priorities and the core value that you want to deliver.
Product vision planning is about understanding what your product is today and then setting a goal for where you want it to be in the future. You can then develop a strategy to make that future a reality.
Product vision is critical to any product manager.
I’ve seen many clients struggle with this because they have not been given the right information or training in the past.
The right way to think about product vision planning is as follows:
1. Begin by writing down what you have today.
2. Then write down what you would like to have in the future (outcome).
3. Next, think about how you would use your resources and capabilities to get there (strategy).
4. Finally, break it into smaller chunks and prioritize them (action plan).
A business owner needs to support the product manager. They can do it by giving them the tools that they need to complete their work effectively in terms of data, people, space, and time.
Once done, they can be very supportive during the process of setting a new direction for the product.
The Right Way To Do Product Vision Planning
There are two ways that we commonly see companies do product vision planning: top-down and bottom-up.
We prefer bottom up because it works better for most people and situations. Let’s take a look at both of these approaches so that you can decide which one would be best for you.
Top-Down Product Vision
This is a traditional way of doing product vision planning where we try to identify what our top goals are. And where we want to go with our products over time.
There are many ways to do this but here are some common examples:
- Goals
- Objectives
- Strategic Priorities products
- Core Value
Bottom-Up Product Vision
This is a way of doing product vision planning where we try to understand the most important functional and user needs that we have.
We then try to understand how they fit together to make a great product.
Here are some examples:
- Competitor Analysis
- Trend Analysis
- Customer research
- Persona analysis
Conclusion
The key to product vision planning is to do it. The more you do it, the better you will get at doing it.
It’s a key way to make sure that everyone on the team knows where they are going and why they are going there. It’s also important to set aside time and effort to revisit it regularly as you move forward with your product.
With vision planning, it’s important to understand the difference between what you have today, what you want in the future, how you will get there, and what you need to do now.
A good vision is not just about your product but about how your company will grow and develop over time as well. Once you have completed your vision plan, keep it in a safe place for future reference!
