What is a product vision?
A product vision, also known as a product vision statement, is a term used to describe the intended shape, form, and function of the product development process in an organization. The product vision will evaluate what needs the product meets, who the target audience is, and why now is the best time for the product.
Essentially, a product vision allows you to explain to your team what the complete picture looks like: the goal they are working toward and the reason for it.
A product vision is intended to describe the status of a product in the future. It is the essence of the product at its heart.
In an ideal situation, the product vision will serve as a guide for the stakeholders. It will help to remind them of the overall direction the product should be heading in and the common objectives shared by the team.
The Importance of a Clear Product Vision
Every major brand in the world has created a product vision statement shared by all of its products. Here are a few of the more well-known ones:
● Amazon’s mission is to be the most customer-centric corporation on the planet, where customers can find and discover whatever they might be interested in purchasing online.
● Apple’s mission is to provide its consumers with the best possible user experience through the development of breakthrough hardware, software, and services.
● Disney’s vision is to be one of the world’s leading producers and distributors of entertainment and information products and services.
As you can see from the examples above, each product vision statement specifies the direction in which each brand is taking its product or service in the future. Each is focused on their desired future state for their product, and their common goal is always to make decisions that will move them closer to that desired future state.
The creation of a product vision statement makes developing a roadmap much simpler. If you begin with a precisely defined vision, you can transfer a clearly defined idea into an action plan. You may then take your action plan and break it down even further to create an entire development plan once you’ve completed it.
Overall, product vision provides direction, motivates employees, and simplifies the process of prioritizing tasks.
How to Develop Your Product Vision
It is critical to begin developing a new product with a clear vision. Although the product concept may be altered or entirely changed over time, it is unlikely. Regardless of the industry, product, or team, a new product should always begin with a well-stated vision statement that guides the whole product development process. So, how does one create a well-performed product vision? Here are some tips for a successful product vision:
● Inspiring: Remember, one of the main goals of your product vision is to outline the big picture, to understand the idea your teams are expected to work in light of. To do that, you need every stakeholder to be inspired by the product vision in a way that will prove them to be a dedicated employee.
● Actionable: A product vision should include a clear game plan that everyone who reads it can follow. The product vision is a smaller version of your company’s goals, and the company must serve them.
● Current: You need to make sure that the connection between the two is apparent at the time of production.