The Power of Curating and Defining Your Product Strategy

The Power of Curating and Defining Your Product Strategy

Introduction:
In today's fast-paced business landscape, crisp execution and high-cadence experimentation are crucial for success. However, to truly supercharge your efforts, it is essential to have a clear product strategy. Strategic thinking allows you to think ahead, skip quarters, and build enduring value. This article explores the parallels between curating and defining a product strategy, highlighting their significance in creating meaningful experiences and driving business growth.

1. The DHM Model: From Curiosity to Strategy
   The DHM Model, derived from the Latin word "curare" meaning "to take care of," emphasizes the importance of curiosity in both curating and product strategy. Curiosity fuels the desire to know and connect knowledge, just as strategic thinking enables you to explore new possibilities and make informed decisions. By shifting focus from customer satisfaction to customer delight, you can align your product strategy with the needs and desires of your target audience.

2. The Strategy/Metric/Tactic Lock-Up: Crafting a Meaningful Narrative
   Similar to how curators create exhibitions with a signature that reflects their ideology, a product strategy should tell a compelling story. The Strategy/Metric/Tactic Lock-Up framework helps you align your strategic goals, metrics, and tactics to create a cohesive narrative. By carefully curating the elements of your product strategy, you can ensure that each component contributes to the overall vision and meaning of your offering.

3. Proxy Metrics: Measuring Meaningful Impact
   Just as curators seek reassurance that their curated selection holds meaning, product managers must measure the impact of their strategies. Proxy metrics, which provide indirect indicators of success, play a crucial role in evaluating the effectiveness of your product strategy. By identifying and tracking meaningful proxy metrics, you can gain insights into the value your product brings to customers and make data-driven decisions to enhance their experience.

4. Working Bottom-up: Collaborative Curation and Strategy
   Curators often act as catalysts, generators, and motivators, collaborating closely with artists to bring their vision to life. Similarly, a bottom-up approach in product strategy involves involving cross-functional teams and stakeholders in the decision-making process. By encouraging collaboration and leveraging the diverse expertise within your organization, you can curate a product strategy that caters to various perspectives and ensures a well-rounded offering.

5. A Product Strategy for Each Swimlane: Tailoring Experiences
   Just as curators curate different exhibitions for various themes or artists, product managers must tailor experiences to different customer segments. Developing a product strategy for each swimlane allows you to cater to specific needs and preferences, ensuring a personalized and meaningful experience for each target audience. By understanding the nuances of each swimlane, you can curate a product strategy that resonates with diverse customer groups.

Actionable Advice:

1. Foster a culture of curiosity within your organization, encouraging team members to ask questions, explore new ideas, and challenge the status quo. Curiosity fuels innovation and drives strategic thinking.
2. Regularly evaluate and refine your proxy metrics to ensure they align with your overall product strategy. Continuously measure and analyze the impact of your product to make data-driven decisions.
3. Embrace cross-functional collaboration and involve stakeholders from different departments in the product strategy process. By leveraging diverse perspectives, you can curate a more comprehensive and impactful strategy.

Conclusion:
In conclusion, the parallels between curating and defining a product strategy highlight the importance of creating meaningful experiences and driving business growth. By embracing curiosity, crafting a compelling narrative, measuring meaningful impact, collaborating bottom-up, and tailoring experiences to different swimlanes, you can curate a product strategy that delights customers and builds enduring value. Remember, a well-defined product strategy is the key to unlocking success in today's competitive market.