The World of Product: Mastering Strategy and Execution

Embarking on the journey as a product manager! It's an exciting role where you get to shape the future of products that impact people's lives. However, it can also feel overwhelming at times. You'll hear a lot about strategy, execution, roadmaps, and goals. Where do you even begin?

Drawing on insights from experienced product leaders like Ry Maehara, former CPO at Tinder and Director of Product at Meta, let's break down some fundamental concepts to help you thrive in your new role.

Strategy and Execution: Two Sides of the Same CoinOne of the most crucial things to understand is that strategy and execution are equally important and tightly linked. As Maehara puts it, "strategy matters it's one of the two sides of the coin strategy and execution". You might have the most innovative idea, but without solid execution – a high-quality product that works well for users – your strategy won't matter. Think of it like a fantastic restaurant concept with terrible service. The experience falls flat.
Conversely, you can execute flawlessly, but without a clear strategy, your efforts might lack direction and impact. You might be building features that don't align with the overall vision or address the most pressing user needs.

As a new PM, you need to start developing a "dynamic range". This means being able to think strategically about the big picture while also paying attention to the details – the pixels, the user interface, and the quality of the product. Don't think that as you become more senior, you only focus on high-level strategy. Great leaders care about the nitty-gritty because quality is paramount. "quality is your product's most important feature and if you don't ship quality first everything else that you deliver is going to get undermined".

Understanding the Building Blocks of Strategy: The Product Strategy StackWhen people talk about product strategy, it can feel like they're throwing around a lot of terms: mission, vision, goals, roadmap. Maehara's Product Strategy Stack helps to clarify these concepts and provides a framework for developing a coherent strategy:

• Company Mission: This is the overarching purpose of the company – what it wants to achieve in the world.
• Company Strategy: This is the rigorous plan the company has to achieve its mission.
• Product Strategy: This defines the role your product plays in achieving the overall company strategy. It's the glue connecting what your team is doing with the company's objectives.
• Product Roadmap: This outlines the high-level initiatives your product team will commit to delivering and the sequence in which they will be tackled. Think of it as your product's journey towards realizing the strategy.
• Product Goals: These are how you measure progress on your roadmap and towards your product strategy. They help you understand if you're on the right track.

Notice that the roadmap comes before goals in this stack. This is because goals are seen as the output of your strategy and roadmap – evidence that you're moving towards your desired destination.

The Power of Visuals: Don't Underestimate WireframesWhile it might seem unconventional, Maehara strongly advocates for including 15-20 wireframes in your product strategy documents. Why? Because product is inherently visual. Showing what the product will look like provides a concrete understanding and fosters alignment across teams. It's like having a blueprint for a house. These wireframes don't need to be pixel-perfect designs created solely by designers. As a PM, sketching out the core user flows and key screens can be incredibly valuable in communicating your vision.
Goal Setting: Thinking Beyond Just Key ResultsYou'll likely encounter goal-setting frameworks like OKRs (Objectives and Key Results). Maehara also developed NCTs (Narratives, Commitments, and Tasks) as an alternative that explicitly incorporates the "why" behind your goals:

• Narrative: A short story (1-3 sentences) explaining the strategic importance of your goal.
• Commitments: Concrete deliverables (outputs or outcomes) your team commits to achieving to progress the narrative.
• Tasks: A flexible list of individual actions needed to achieve the commitments.

Remember, progress is measured by your commitments, not just the completion of tasks. This framework helps ensure that your goals are rooted in a clear strategic rationale.

​You and Your Growth: Understanding Your "Shape" as a PMAs you navigate your product management career, it's crucial to understand your strengths and areas for development. Maehara's "What Shape Are You as a PM?" framework identifies 12 key competencies across four areas:

• Product Execution
• Customer Insight
• Product Strategy
• Influencing People

The idea is that individuals are "spiky" – strong in some areas and less so in others. The goal is to become self-aware, understand your strengths, identify areas where you want to grow, and build well-rounded teams with complementary skills.
Frameworks: Tools, Not RulesRemember that frameworks like the Product Strategy Stack and "What Shape Are You as a PM?" are tools to enhance your thinking, not rigid rules. Don't be afraid to adapt them to fit your context. "Frameworks are a tool not a rule".
Final Thoughts for New PMsYour journey as a product manager is just beginning. Embrace the challenges, be curious, and never stop learning. Focus on understanding both the strategic and the executional aspects of your role, and always keep the user at the center of everything you do. By drawing on the wisdom of experienced leaders and utilizing frameworks as guides, you'll be well on your way to making a significant impact in the world of product.
One final piece of advice: start building your voice. Share your insights and learnings through articles or blog posts. This not only solidifies your understanding but also helps you stand out as you grow in your career. Good luck!