Business and Strategy Assessment

Assess the current state of business and strategy skills for your product team

Ben Johnson, Head of product

LLR

Another test!

Your note to Product Growth Leaders

Response

Points

MARKET SENSING

1.

We have a strong understanding of the current situation in our markets and with our competitors.

Inconsistent

1

Q1

2.

We have a well-understood process for market insights.

No

0

Q2

3.

We have a strong system in place for managing the performance of our products (including financial performance) on an ongoing basis.

No

0

Q3

4.

We consider a product’s phase in the lifecycle as we develop its product strategy.

No

0

Q4
STRATEGIC ACUMEN

5.

We have a clearly defined product strategy that aligns with our corporate strategy.

No

0

Q5

6.

We have the ability to identify and evaluate multiple product strategy options.

No

0

Q6

7.

Our product strategy aligns with what we can fully resource and execute.

No

0

Q7

8.

We continually engage with the market to understand and validate our product strategy.

No

0

Q8
BUSINESS PLANNING

3.

We have a strong system in place for managing the performance of our products (including financial performance) on an ongoing basis.

No

0

Q3

7.

Our product strategy aligns with what we can fully resource and execute.

No

0

Q7

9.

We have a strong understanding of the problems we solve and the value we deliver.

Inconsistent

1

Q9

10.

We have a consistent process for business planning for our initiatives.

No

0

Q10

11.

We revise our product roadmaps based on changes to our product strategy.

Yes

3

Q11

12.

We leverage our market insights to develop strategic positioning.

Inconsistent

1

Q12
COMMUNICATION AND LEADERSHIP

13.

Our team members have the skills for business planning.

No

0

Q13

14.

Our team members collaborate well with their counterparts in other departments.

Yes

3

Q14

15.

Our team members communicate well with leaders in other departments.

Yes

3

Q15

16.

Our product team members are viewed as business leaders by the organization.

No

0

Q16

Rating and recommendations

LOW

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Team Score

12

Point Range

< 25

baseline

Assessment Date

8/2/22

You have room to grow to build a strong foundation. Alignment and standards are keys to success. There are many areas where you can make significant gains. Ensuring that roles, responsibilities, and process are defined and documented is a good start.

MARKET SENSING

Technology drives invention; problems drive innovation. Clayton Christiansen, in his book The Innovators Solution recommended an innovation process that begins with the problem to be solved (or, in his words, the job to be done). Customer interviews, observation, and market data lead to a deep understanding of new products to build and new markets to serve.

Section 1

STRATEGIC ACUMEN

Section 2

Technology drives invention; problems drive innovation. Clayton Christiansen, in his book The Innovators Solution recommended an innovation process that begins with the problem to be solved (or, in his words, the job to be done). Customer interviews, observation, and market data lead to a deep understanding of new products to build and new markets to serve.

BUSINESS PLANNING

Section 3

One of the most common failure scenarios is when product plans don’t truly address real market-wide problems. The key is to ensure that product teams deeply understand the market you serve, the problems you solve, and the business priority of the work. Be watchful that demands from a single prospect or client don't derail your roadmap.

Many teams have a process that is documented but rarely followed. In some cases, products get defined and created despite the process. If you’re not following your process, it’s time to create a new process.

COMMUNICATION AND LEADERSHIP

Section 4

There is much to do! For many teams, product get released into the market without adequate tools such as competitive positioning and messaging, sales enablement tools, and a sales playbook.

Achieve product growth by empowering customer-facing teams during each step of the buyer’s journey. Keep tabs on product success with on-going market feedback and product metrics.