“A good strategy is, in the end, a hypothesis about what will work.”

— Michael Porter

Qualities of great strategy: p roblem-oriented: clearly identifies the problem; i nsight-driven: rooted in insights, both quantitative and qualitative; actionable: outlines concrete actions/investments that will solve this problem; focused: has a small number of high-leverage bets; cohesive: create a clear path from the problem to the solution.

• 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

1. Remind people over and over : Don’t expect anyone to remember any part of the strategy. Remind your team, and stakeholders, at every opportunity — every all-hands, every update email, every review meeting.


2. All prioritization should go through your strategy : One of the main goals of a strategy is to create focus — to know what NOT to do. Continue

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.

1. What is the current situation?


2. What is the complication?


3. What is the solution?


4. How do we achieve this solution?

Qualities of well-articulated strategy: s hort, m emorable, is explained with framework or a metaphor, leverages the rule of three, is easy to find (and share)