Getting better at product strategy

Broadly, the best way to get better at developing strategy:

1. Spend time understanding your market (including your competition)


2. Spend time understanding your customers and their needs


3. Spend time crafting and executing strategies — and learn from those experiences


4. Study colleagues who are great strategic thinkers


5. Read about strategy

To develop a winning strategy, you have to get three things right:

1. ☝️ The actual strategy


2. 👏 Articulating the strategy


3. 🤝 Acting on the strategy

• Team Mission : Make it easy and fun to book a home on Airbnb


• Team Vision : If you see it, you can book it


• Team Strategy : Transition the Airbnb marketplace from a “Request to Book” model to an “Instant Book” model, by (1) giving hosts all of the tools they need to be successful with Instant Book, (2) incentivizing hosts to enable Instant Book, and

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Lastly, as you execute on your strategy, in the back of your mind, always be thinking about how you can refine and strengthen the strategy. What would make it better, stronger, and clearer? A good strategy is never static. 

Being good at strategy is also one of the defining characteristics of a senior Product Manager. For good reason — a well-crafted strategy can change the trajectory of a business, while a bad strategy is a huge waste of time and money.

Broadly, the best way to get better at developing strategy: s pend time understanding your market (including your competition); s pend time understanding your customers and their needs; spend time crafting and executing strategies — and learn from those experiences; study colleagues who are great strategic thinkers; read about strategy.

To develop a winning strategy, you have to get three things right:  ☝️ The actual strategy  👏 Articulating the strategy  🤝 Acting on the strategy

Our team then dove into each of these tracks — developing hypotheses, ideating on solutions, and launching dozens of experiments to make steady progress towards our goal.

A strategy is your plan to win.

Qualities of great strategy

1. Problem-oriented : Clearly identifies the problem


2. Insight-driven : Rooted in insights, both quantitative and qualitative


3. Actionable : Outlines concrete actions/investments that will solve this problem


4. Focused : Has a small number of high-leverage bets


5. Cohesive : Create a clear path from the problem to the solution