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Based on this picture, these metrics can help you calibrate your progress:
- The total number of ideas evaluated per quarter (using, at minimum, ICE analysis and goals alignment)
- Number of ideas tested per quarter
- The number of ideas released per quarter
- Total number of tests and experiments conducted per month
- Percent of steps that generated learning (i.e., where we were able to rescore the idea and/or generate useful insights based on the evidence collected)
- Percent of ideas launched at least with a medium Confidence level (per the Confidence Meter)
- Percent of ideas released that generate measurable outcome improvements
The first four metrics are aligned with Linus Pauling’s observation that the way to have good ideas is to test many ideas.
Evidence-Guided
Itamar Gilad
The consequences of indecisive strategy
Instead of treating product strategy as a monolith that you have to make more decisive all at once, consider it a cohesive machine with different dials to turn. In essence, you have to make choices across a few core questions that the strategy needs to answer:
Why do you want to act now, and what long-term ambitions drive your actions?
For whom do you want to solve problems, and what are these problems? Who else tries to solve that problem?
How do you plan to reach your audience? What makes them choose you over an alternative?
The answer to each of these questions represents a choice. And the specificity of each choice influences how decisive, and therefore practical, your product strategy will be.
Great Strategy Gives You Permission to Say "No"
Ravi Mehta
The core content of a strategy is a diagnosis of the situation at hand, the creation or identification of a guiding policy for dealing with the critical difficulties, and a set of coherent actions.
Good Strategy/Bad Strategy
Richard Rumelt
...catch up on these, and many more highlights
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