Tips to Define a Perfect Product Vision Statement

“In the end, all business operation can be reduced to three words: people, product, and profits.”- Lee Iacocca

Considering the above quote and relating it to the vision statement in agile we have covered two of the business operation that is profit as in the company vision statement and people as in the team vision statement. Now in this article, we will discuss the third main aspect which is the product vision statement.

The most important aspect of any project and organization is the product. Due to various other important tasks and agile events of a product owner they, many times overlook the product vision statement. As product vision is not the main part of agile then why is it necessary to have it? This is what many product owners may ask.

Product owners are the whole and sole of the product, making them create, manage, and own the product vision. The importance of product vision is that it helps the product owner to guide the team towards the goal of creating a product, intention, and aims where the team and organization want to reach, with help of that specific product, and what they want to achieve for customers and users with it.

Many define product vision statements as objectives, goals, vision, mission, needs, etc. In specific, product vision is a foundation for the product strategy, product development roadmap, backlog, and planning as well as execution and launch of the product which makes it more than a goal or objective of a product.

The reason agile values product vision so much is because it provides what and why for the building of the product, it provides the alignment within the major operation in the process of development of a product, and it helps in stating how the product will create value for customers as well as for the business. With this complete understanding of a product vision and its importance, let’s move towards tips for creating a perfect product vision statement.

Tips for Perfect Product Vision Statement

Keep Vision Clear, Short, and Inspiring

Ensure to make the product vision statement clear and short for better embracing, understanding, and remembering. Along with it also make sure that it is inspiring for the team and also makes them stretch for achieving it, improving themselves as well as their team.

Focus on value for Customer

Always the inspiring, motivating, and inviting product vision is developed based on value for the customer and not on business value, features, or technology that makes it too technical. It should be always about achieving a dream or solving a problem for betterment.

Validate Vision Statement with Stakeholders, Agile teams, and Market

It is necessary to collaborate on product vision statements with stakeholders, agile teams, and also the users from the market as they all can provide valuable and interesting insight. They help and even if required challenges you to make the product vision clearer, more ambitious, and more tangible. By using knowledge and experience of your corresponding environment you can create a more perfect product vision statement.

Make it Fit with Organization Vision

Ensure to align with company vision and strategy. If it feels that company strategy requires a pivot as per your learning and working do not hesitate to take it up with stakeholders. The product vision statement should align with the company vision and strategy or it can also go the other way around for the betterment of the organization.

Adapt Vision as per Target Audience as well as Your Learning

Don’t be afraid to change direction in the journey as per your learning and target audience if required. It is okay if the product vision stated at the very start doesn’t match the targeted audience feedback, or preferences and feels the need to change, then go for it just don’t repeat it often.

Be the Owner of Your Product Vision

To be most successful as a product owner requires owning the product; similarly, product owners for their success must own the product vision statement as they own the product. They must be humble and passionate about their product vision, hence planning all their further responsibilities considering this product vision statement. They should never consider that the product vision statement is only to motivate their agile teams and does not involve them.

There are various tools available for creating a better product vision statement in an agile environment. By following the above tips and using tools for better phrasing, a systematic and perfect product vision statement that will guide, inspire, and motivate you and your agile team for achieving it can be created.

 

About Advance Agility

We, at Advance Agility, are the new-age Agile Coaching, Consulting and IT services company. We enable end-to-end Digital Transformation. Agile execution is integral to our being. We are doing SAFe implementation with small, medium and large organization across the globe. Our vision is to be the leading Agile execution player globally. To keep adding value at every process stage. We are on a mission to empower our clients, move from concept to cash in the shortest sustainable lead time by adopting human centric approach to business agility. Embracing the change is in our DNA. Things that keep us apart are Quicker and Seamless execution with End-to-end gamut of services. Our Global presence and Stellar Track Record give us an edge over our competitor.

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