Product Strategy: Why You Don’t Always Need One
Defining a product strategy is often seen as a key goal for product teams. But should you really aim to have one for every product you work with?
Here’s my hot take: Not every product needs a strategy, and in some cases, having one can hold you back.
I’ve worked with companies at all stages—from startups to scale-ups and more mature organizations. What I’ve seen is that depending on your product’s stage and the market’s maturity, spending time on a product strategy can do more harm than good.
A product strategy sets expectations for what you focus on, but it can create a 'lock-in' effect—dangerous if your product is pre-market fit or in a market that’s prone to disruption (AI anyone?).
You’ll always need a goal to guide you, a compass to measure your success. But investing in a full-blown product strategy when your product is still finding its place or your market is unstable? That might not be the best idea.
So, how can you decide when a strategy is worth it? And if you do invest in one, what’s the right timeline to follow?
Here’s my framework based on four distinct phases of product maturity and market stability:
Pre-market fit in a stable market: Focus on forming a path.
Pre-market fit in an unstable market: Focus on experimenting rapidly.
Post-market fit in an unstable market: Focus on innovating continuously.
Post-market fit in a stable market: Focus on scaling sustainably.
Pre-Market Fit: Form and Experiment
If your product is pre-market fit, I’d argue it’s not the time to create a product strategy. Why? Because you need to be hyper-responsive to market signals. You’ll likely need to pivot, and the mantra should be: adapt.
If you create a strategy too early:
You’ll anchor yourself to a direction you might need to change.
You could become fixated, making it harder to listen to market signals.
Instead, focus on defining your measure of success and obsessively talking to potential customers. You don’t have to navigate blindly, but set goals that your team can use to measure success.
Stable market? Try setting quarterly goals and build in quick feedback loops.
Unstable market? Flexibility is key. Set monthly goals and adjust as fast as necessary.
Post-Market Fit: Scale and Innovate
If you’ve reached post-market fit, congratulations! Your product is solving real problems and delivering business impact. But don’t rush into strategy just yet—there are still some nuances.
Unstable market? Be cautious. Stay flexible with quarterly goals, but revisit them monthly.
Stable market? This is where a structured strategy makes sense. Consider:
3-year strategy, revisited annually
Annual goals, revisited quarterly
Bi-annual planning
This approach strikes a balance between long-term focus and adaptability.
Thinking about product maturity and market context can guide where to invest your time. Not every product needs a strategy right away—it depends on your situation.
Curious about how to define a product strategy when the time comes? Here are some additional resources:
If you want to discuss whether you need one, drop me a line—I’d love to hear your thoughts. Or follow the discussion on LinkedIn.