Set a One-Year Strategy for a Product of Your Choice: Thesis, Bets and Metrics

Choose a product you love and imagine you are its product manager. What would your strategy be for the next twelve months? ```hint Thesis before roadmap Before listing features, settle what the product is for, how it makes money and where its market is heading. Every bet in your year should trace back to one clear thesis about what has to change. ``` ### Clarifying Questions - Am I setting strategy for the whole product, or for one product inside a larger company's portfolio? - Is the year's main goal mine to choose (growth, revenue, retention or better outcomes for users), or should I take the company's stated priorities as given? - Should the strategy stay within the product's current market, or may it include entering new ones? - Should I assume roughly today's team size and budget? ### What a Strong Answer Covers - A short, credible reason for the choice and a clear account of the product's mission, users and business model - An honest diagnosis of strengths, weaknesses, market trends and competitors that leads to one strategic thesis - Two to four prioritized bets tied to the year's goals, plus what the team will deliberately not do - Metrics, sequencing through the year, and the main risks and dependencies of each bet - Guarding against the bias of being an enthusiastic fan who is not a typical user ### Follow-up Questions - Halfway through the year your budget is cut in half. Which bet survives, and why? - A competitor ships your top bet before you do. What changes in your plan? - What evidence at the six-month mark would tell you the strategy is wrong?