- Another PM Day
- Posts
- Strategy is a choice
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Hello Product Leaders!
Let me tell you a story.
When I was about 10, I wanted to build a treehouse with my friends.
We disagreed on how to do it – some wanted simple, others wanted elaborate. Instead of arguing, we split into teams and tried different approaches.
Some worked better than others, but by combining ideas, we built an amazing treehouse.
It taught me one thing important.
There's never just one way to reach a goal.
In product management, it’s the same story. A few ways or product strategies exist to reach your product north start metric.
Let’s dive in.
Today at a glance
The Paradox of Multiple Paths
This paradox is often known as the "Paradox of Strategic Choice" or the "Paradox of Multiple Paths."
This paradox challenges the traditional notion of a single, optimal strategy by recognizing that in complex and dynamic environments, there may be various pathways that lead to success.
Strategy is a choice
Sometimes we think that strategy is like math, where there is one right answer. But strategy is not that simple.
Product strategy is a plan to reach your goals when things are uncertain. This means there may not be a right answer, even if there is one.
In the tech world, there can be many right answers. Pheeeewwwww!
For example, Apple's Vision Pro uses AR to execute its entertainment strategy, while Netflix doubles down on AI/ML to recommend personalized content, keeping users engaged and satisfied.
Both are legitimate strategies. So how do you choose?
There is a framework that can help you make tough decisions when there is no perfect answer.
This framework can be applied to many areas, not just product strategy.
List All Your Limitations
We all have limitations that affect our choices. This is not necessarily a bad thing.
However, when we want to understand our options.
First, we need to identify the limitations that restrict us. We should make these limitations clear. Only then can we question them or explain them to others.The paradox is that many of those limitations are not even vague ideas, we simply accept them without questioning.
It's like fish not understanding the concept of water.
When thinking about your product strategy or a specific decision, make a list of the limitations that you have.
Start with obvious things like the country you live in or the industry your company operates in.
Write down as many limitations as you can think of. These limitations can be anything that you consider as given, even things like "the CEO will not approve hiring more staff" or "this cannot be done in less than 2 years".
You might feel uncomfortable writing down some of these limitations because you are no longer sure if they should restrict you.
However, still write them down because you will need them later.
Next, we will review each limitation and question it. We will categorize them into objective limitations and choices.
Constraints You Decide On
These constraints are important because they help us make decisions.
Technology is a powerful tool, but we need to limit our options to move forward.
For example, Apple and L'Oreal have different missions and products (entertainment vs. beauty experience). Constraints can also apply to other areas like market segments, financial models, go-to-market strategy, and team structure.
Slack founders chose not to have outbound sales at first. It was their decision, but as they scaled and targeted larger enterprise clients, they recognized the need for a dedicated outbound sales team.
It's okay to choose a constraint even if you don't have to, and make it explicit across the organization. That’s what matters.
Sometimes, you should challenge yourself to see if the constraint still makes sense at a future date. If it does, keep talking about it and align with your team. If it doesn't, you can choose differently.
Objective Constraints (or Realities)
What about constraints that are not a matter of choice, but rather a matter of reality?
First, don't assume they are set in stone too quickly. Some things may seem like an objective reality, but there is still some choice involved.
- For example, the size of our team. It may seem like a given, especially if the company recently had layoffs and it's unlikely we'll get more people.
However, someone decided to have that specific number of people, even if it means doing less.
It could have been you or someone else. But if we had a compelling reason, we might be able to get more people. Also, consider things that seem like forces of nature.
- For instance, we can't reduce the cost of our hardware without sacrificing quality. We've tried everything and couldn't find a solution.
However, it's worth double-checking if this is truly the case today, as sometimes new ideas can solve old problems, always apply the first principle thinking and dig deeper. And if these constraints are truly unchangeable? That's okay too.
It means we need to look for the answer in a different direction.
Key Takeaways
Remember:
It’s okay to switch strategies; there's no one-size-fits-all.
Understand strategy in complex environments allows multiple paths.
Identify and understand all real limitations for better decisions.
Recognize the importance of constraints in guiding progress.
Regularly review constraints for alignment and adaptability.
Challenge fixed constraints for innovation and new directions.
In Case You Missed Them
👉️ Work with guiding principles (Link)
👉️ Extreme brainstorming to trigger fresh ideas (Link)
👉️ Challenge your higher-ups (Link)