I see Product Managers fall into the trap of thinking strategy must be complex and brilliant. I’ve seen great strategy can be simple, straightforward, clear, rooted in basic truths and executed really well. To help PMs simplify strategy I recommend Ohmae’s classic “3 C’s Model.” The “3 C’s” are Company, Customer and Competition.
Great strategy answers these questions in context of the 3 “Cs:”
What
Why
How
The “3 C’s” helps PMs focus discovery and converge insights and ideas into a cohesive strategy:
Company
What is the company’s goal?
What is the company’s value proposition to the customer?
What assets do we have to help us deliver on goals and value?
How will you align to the company goals and deliver on its value proposition?
Why are you choosing X vs Y focus?
Customer
Who is the customer?
What is their need or pain point?
What is their relationship with your company, and expectation to meet their need?
How will you meet the customer’s need and extract value from them?
Why are you choosing X vs Y focus?
Competition
How do you differentiate in the market?
What do you need to do to achieve parity?
What do you need to do to pull away from competitors?
How will you create value for customers in relation to your competition?
Why are you choosing X vs Y focus?
The Product Manager’s responsibility is to answer these questions, and to align product scope directly to these three areas. You have flexibility within this model. You may be focused on driving company value aligned to customer needs. Or you may be focused on differentiating in the market in order to grow. In every case, you will need to align your company’s assets and goals to deliver upon your strategy.
Next time you are struggling with strategy, start with the “3 C’s Model” and keep it simple.
Comments