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To understand how to set our strategic intents, we had to first understand what business value really means. Joshua Arnold, a business and product consultant and expert on cost of delay, uses a great model for thinking about business value,1 as shown in Figure 13-1. Figure 13-1. Framework for thinking about value, by Joshua Arnold (reprinted by permission of Joshua Arnold, © 2002)
Escaping the Build Trap
Melissa Perri
The North Star Metric:
Delivering high value to your market is not just a matter of altruism; it’s genuinely the best thing you can do for your business. It’s far easier to acquire and retain customers with high-value products, you can charge more for them, and they keep competitors at bay. Many modern product companies understand this and consider growing value-to-customer their most important goal. That’s where the North Star Metric comes in. A North Star Metric (NSM) is a number that sums up the core value we deliver to the market. In the words of growth expert Sean Ellis, it’s your value footprint.
Evidence-Guided
Itamar Gilad
What Strategic Thinking Actually Looks Like
Strategic thinking means turning from the strategic process to the actual core questions:
**Instead of:** "What features should we build?"
**Ask:** "Which customer problems, if solved, would most directly contribute to our company's current priorities?"
**Instead of:** "Leadership hasn't told us who to focus on."
**Ask:** "Based on what we know about business goals, which segments would we focus on if we had to choose today?"
**Instead of:** "Which of [Helmer's 7 Powers](https://click.convertkit-mail2.com/8kuokvewzehoh29wkx5akhk6g2g99s3hxqgw2/owhkhwuwgz7do5tq/aHR0cHM6Ly83cG93ZXJzLmNvbS8=) is the right one to focus on?"
**Ask:** "How can we convince audiences to choose us over alternatives?"
Notice the pattern? Strategic thinking means making explicit choices within your context, even when that context is imperfect.
Why Strategic THINKING Matters More Than THE Strategy
Tim Herbig
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