Product Vision vs Strategy vs Objectives vs Roadmap: The Advanced Edition

Hey, Paweł here. Welcome to the subscriber-only edition of The Product Compass.

Every week, I share actionable tips to boost your PM career.

Here’s what you might have missed:

1. Free: Product Manager vs. Product Owner

2. Archived: Your Growth Plan for 2024

3. Premium: User Interviews: The Ultimate Guide to Research Interviews

4. Premium: How to Land a PM Interview: A Step-by-Step Guide

5. Premium: A/B Testing 101

6. Premium: Product Management vs. Product Marketing vs. Product Growth

---

Product Vision vs Product Strategy vs Objectives vs Roadmap: The Advanced Edition

Many PMs struggle to explain the difference between Product Vision, Strategy, Objectives, and Roadmap. But those are extremely simple concepts.

In today’s newsletter:

1. What is a Product Vision? (Why)

2. What is a Product Strategy? (Where & How)

   1. Product Strategy Canvas

   2. 🔒 Strategy and the North Star Framework

3. 🔒 How to Manage Objectives? (What)

4. 🔒 How to combine OKRs with the North Star Framework

5. 🔒 What is a Product Roadmap? (So What & When)

6. 🔒 Additional Notes

   1. Product Vision vs Mission

   2. Product Vision vs Strategy

1. What is a Product Vision? (Why)

Product Vision is the long-term aspiration of your product. It motivates your team to wake up every morning and go to work.

For example, “Send humans to the Moon” or “Help tour operators focus on doing what they love.”

An effective vision needs to be:

• Inspiring: People who help to implement the vision should feel inspired and excited. And you don’t get inspired by chasing financial metrics.

• Achievable: It must have a decent chance of working. Don’t dream of traveling to Alpha Centauri until you send humans to Mars.

• Documented: It's essential to write down the vision, not just keep it in your head.

• Communicated: While it may seem obvious, it's often overlooked. Ensure the vision is shared with others.

• Emotional: A vision becomes impactful and memorable when it resonates emotionally and inspires practical action.

My favorite example is the JFK Moon speech:

2. What is a Product Strategy? (Where & How)

Strategy is not a plan, a goal, or a set of actions.

It's a cohesive set of choices that you believe will allow you to win (achieve your Vision) at the playing field of your choice:

• market and its constraints (e.g., geography)

• value proposition

• relative costs

• key metrics

• tradeoffs

• growth

The strategy should pass the "can't/won't test," ensuring that competitors cannot replicate it without compromising their existing businesses.

A fantastic, short video by Prof. Roger Martin:

2.1 Product Strategy Canvas

A free Product Strategy Canvas to download:

Product Strategy Canvas

2.2 Strategy and the North Star Framework