Strategy defines where you choose to play and how you choose to win. It is not the roadmap itself and not an execution checklist.
Strategy vs roadmap vs plan:
- Strategy: long-term choices and differentiated direction
- Roadmap: sequence of bets to execute strategy
- Plan: operational tasks and timelines
Inputs to strategy:
- Market dynamics and competitive landscape
- User segments and unmet needs
- Company strengths and defensible advantage (moat)
Vision statement craft:
- Who you serve
- The core problem you solve
- The future state you help users reach
Strategic choices require tradeoffs. Choosing one segment means de-prioritizing another. Choosing simplicity may limit customizability. Strong strategy is explicit about what you will not do.
Defining strategic bets:
- Bet statement: what you believe will create advantage
- Evidence: signals supporting the bet
- Risk: what could invalidate it
- Metric: how success is measured
Measuring strategy execution:
- Track leading indicators for each bet
- Run quarterly strategy reviews
- Update allocation based on evidence, not sunk cost
Strategy one-pager template:
- Mission and vision
- Target segment
- Differentiated value proposition
- 3-5 strategic bets
- Key risks and assumptions
- Success metrics