#10 The Quarterly Product Strategy Meeting: Reducing Information Anxiety and Accelerating Results

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Aug 26, 2023

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#10 The Quarterly Product Strategy Meeting: Reducing Information Anxiety and Accelerating Results

Introduction:

In today's fast-paced digital landscape, staying ahead of the competition requires both a clear product strategy and the ability to navigate the overwhelming amount of available information. In this article, we will explore two distinct yet interconnected topics: the significance of Netflix's Quarterly Product Strategy Meeting and the role of Joggo in reducing information anxiety.

The Quarterly Product Strategy Meeting:

Netflix, known for its innovative approach to business, has implemented a Quarterly Product Strategy Meeting to keep strategy "front and center" and drive accelerated results and learning. This meeting, which evolved from monthly meetings for each swimlane, has become a crucial part of the Netflix culture.

The Netflix culture emphasizes the importance of enabling teams to be highly aligned and loosely coupled. "Highly aligned" means that every group understands the overall product strategy and its contribution to the company's success. On the other hand, "loosely coupled" implies that teams have the autonomy to make decisions without the need for excessive consultation with multiple teams.

Another key principle at Netflix is "context, not control." The goal is to provide teams with the necessary context through strategy, enabling them to make informed decisions without being burdened by rules or heavy-handed processes. Slides are used during the meeting as a conversation starter, but the focus remains on delivering a crisp articulation of the strategy, supported by test results that inspire debate.

The structure of the Quarterly Product Strategy Meeting typically includes the following elements:

  • 1. Articulation of the high-level strategy by the head of the product team.
  • 2. Key team members sharing insights relevant to everyone present.
  • 3. Presentation of the strategy for each swimlane by the respective product leaders.
  • 4. A wrap-up session for general discussion, unresolved issues, and framing of information to be shared outside the meeting.

By incorporating a Net Promoter Score survey, Netflix aims to continuously improve the quality of these meetings. This feedback mechanism allows them to identify what went well and areas for improvement, ensuring that each subsequent meeting is better than the previous one.

Reducing Information Anxiety with Joggo:

Joggo, a company that emerged from a pivot, recognizes the challenge of information overload and aims to alleviate information anxiety. Initially a payments company, Joggo shifted its focus to address the growing need for efficient information consumption.

The founders of Joggo believe that although there is a vast amount of knowledge freely available, the time available to consume this knowledge remains limited. This creates a media paradox where consumers are uncertain about the value they will derive from consuming content until after they have consumed it.

To address this issue, Joggo provides summaries of content as a means of filtering and selecting information. These summaries serve as a preview, helping readers determine whether they should delve deeper into the full content. However, Joggo emphasizes that summaries are not meant to replace the content itself but rather to provide insights and aid recall after consuming the full piece.

The production of high-quality summaries requires a deeper understanding and human involvement, at least for now. Joggo adheres to consistent formatting to enable users to consume summaries quickly. They also avoid summarizing content under five minutes in duration, as they believe such summaries would not provide sufficient value or quality.

Joggo's approach addresses the issue of accumulating unread content, often referred to as the antilibrary. Saving content without revisiting it misses valuable opportunities to capitalize on potentially defining ideas. Joggo's summaries offer a solution by aiding recall and functioning as pre-written notes for future reference.

Furthermore, Joggo recognizes the importance of trusted recommendations from friends and family. However, the challenge lies in the ease with which shared links and conversations can bury these recommendations, making them difficult to retrieve when needed. By providing concise summaries, Joggo enables users to consume more content in less time, maximizing productivity and knowledge acquisition.

Actionable Advice:

  • 1. Embrace the Quarterly Product Strategy Meeting: Implement a similar meeting structure within your organization to ensure that teams are aligned with the overall strategy and have the autonomy to make informed decisions. Encourage open debate and continuous improvement through feedback mechanisms.
  • 2. Leverage Information Summaries: Explore tools or services like Joggo that provide summaries to help filter and select content effectively. Use these summaries as pre-written notes for better recall and to maximize the value obtained from consuming content.
  • 3. Prioritize Intensive Reading: While summaries are useful for information filtering, deepening understanding, and generating ideas often require more intensive reading and interaction with the content. Prioritize quality over quantity when choosing what to read and engage with content that sparks inspiration and critical thinking.

Conclusion:

The Quarterly Product Strategy Meeting at Netflix and the services offered by Joggo both address the challenges posed by information overload in unique ways. While Netflix focuses on aligning teams and providing contextual strategy, Joggo simplifies information consumption through summaries. By leveraging the lessons from these approaches, organizations and individuals can accelerate results, reduce information anxiety, and make the most of the limited time available for consuming knowledge.

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