What is a Product Vision?

A product vision is an aspirational and long-term view of what a product could become and how it can make an imprint on people's lives. Whilst it might start with a clear and concise statement outlining the desired outcomes for a product, ideally a comprehensive product vision should also be communicated through other means such as visual diagrams, prototypes, or even videos. The purpose of a product vision is to clearly articulate the long-term goals and aspirations for a product, and to provide a clear direction for the product team to follow.

The vision is focused on the needs and desires of the target customers, and must clearly explain how the product will solve their problems or meet their needs. It can be inspiring, but achievable and aligned with the overall mission and goals of the organization.

It provides a high-level roadmap for the development and evolution of the product, and serves as a guiding light for the team responsible for creating and maintaining the product. It directs the development of a product by serving as a reference point for decision-making.

Having a clear product vision is essential for any product team, as it helps to keep the team aligned and focused on the long-term goals of the product. It also helps to communicate the direction and purpose of the product to stakeholders and customers, and can be used to guide decision-making and prioritize features and improvements. The vision is to inspire the team to strive for excellence.

A product strategy, on the other hand, is a plan that outlines how to achieve the product vision. This contains specific goals and objectives to achieve to realise the product vision, as well as the tactics and resources needed to achieve them. It must include target market, positioning, value proposition, and outlines the roadmap for the product, the features and functionality that will be delivered over time and how they align with the product vision.

In short, a product vision is the "what" and the "why" of a product, while a product strategy is the "how" and the "when." Both are important for guiding the development and direction of a product, but they serve different purposes.

A product vision is important for several reasons:

1.?????It provides a roadmap: A product vision provides a roadmap for the development and evolution of the product, helping to guide decision-making and prioritize features and improvements. This can help to keep the team aligned and focused on the long-term goals of the product.

2.?????It inspires and motivates the team: A product vision should be aspirational and inspire the team to strive for excellence. It helps to communicate the purpose and direction of the product, and can motivate the team to work towards achieving the vision.

3.?????It helps to communicate the product's direction: A product vision helps to communicate the direction and purpose of the product to stakeholders and customers, which can be especially important in complex or rapidly-evolving markets.

4.?????It helps to align the product with the organization's mission and values: A product vision should align with the overall mission and values of the organization, helping to ensure that the product is consistent with the organization's goals and purpose.

Overall, a product vision is an essential tool for any product team, as it helps to keep the team aligned and focused on the long-term goals of the product, and helps to communicate the direction and purpose of the product to stakeholders and customers.

There are several steps that you can take when creating a product vision:

1.?????Identify your target customers: The first step in creating a product vision is to understand who you are building the product for. This involves identifying the characteristics, needs, and pain points of your target customers.

2.?????Define the problem you are solving: Next, you should define the problem that your product is meant to solve for your target customers. This should be a clear and specific problem that your product will address.

3.?????Determine the desired outcomes: Based on the problem you are solving and the needs of your target customers, determine the outcomes that you want your product to achieve. These should be specific, measurable, achievable, relevant, and time-bound (SMART) goals.

4.?????Develop a roadmap: Once you have defined your target customers, problem, and desired outcomes, you can develop a roadmap for how you will achieve your product vision. This roadmap should outline the key features and improvements that you will focus on over time to move the product closer to your desired outcomes.

5.?????Communicate the vision: It's important to clearly communicate your product vision to the team and other stakeholders. This helps to ensure that everyone is aligned and working towards the same goals.

6.?????Review and revise: As you work on the product, you should regularly review and revise your product vision to ensure that it remains relevant and aligned with the needs of your customers and the overall goals of the organization.

By following these steps, you can create a clear and compelling product vision that serves as a guiding light for your team and helps to keep them focused on the long-term goals of the product.