Product Discovery Playbook

Define Where to Play and How to Win with

Product Strategy Sprint

Product Strategy Sprint

What is a Product Strategy Sprint?

The product strategy states in which markets you intend to play, by settling on geography, customer segments, product categories and more, and how you intend to win in those markets, by identifying your value proposition, competitive advantage and other meaningful details.

It further states what capabilities need to be in place for this to be possible, and which management systems are required. Before running a Product Strategy Sprint, we recommend running a Product Vision Sprint, unless you have a solid product vision already in place.

  • A Product Strategy Workshop consists of preparation work done by the team, as well as four workshop days with in-between work done by the team, which will be used during the workshop days. 
  • The goal of the preparation work is for the team to gather knowledge about the current state of the company and product, which will be used when defining the new strategy.
  • During the workshop days, the team works together to map out potential markets to play in, and aim to find plenty of opportunities to address while pushing for innovation. In addition, the team works to identify the objectives to prioritise in order to win, establishing a solid positioning for each market, taking their capabilities into account. Finally the team works to reverse-engineer their plan to map out risks and ideate on experiments that can help de-risk the product strategy. The team finalises the work by further prioritising their product objectives, sequencing them and reflecting on how much to invest in each. 
  • Having a clear product strategy helps teams to prioritise initiatives and work towards a common goal.
Sign up for a
Product Strategy Sprint

A strong Product Strategy

In order to work long-term,strategy needs to be rooted in a deep understanding of the business, its purpose and capabilities, the market and potential competitors, and the customers and their needs.

Product Strategy Sprint
Winning Aspiration
Our guiding aspirations, vision & mission and our key strategic choices
Product Strategy Sprint
Where to Play
Our geographies, product categories, customer segments, channels and vertical stages of production
Product Strategy Sprint
How to Win
Our value proposition and sustainable competitive advantage aligned with the capabilities of the organization
Product Strategy Sprint
Success criteria and shortening the odds
Our key bets in strategy, objectives that move the needle, and plan to de-risk the choices

Design Sprint achievements

Highlighting some of our most significant outcomes from Design Sprints to date.

400 kEUR ARR

Deal for at least 8 years without writing a single line of code.
Product
Idella
Problem to solve
The Dutch government invited Idella to join a tender for an Unemployment Benefits Portal.
Process
8 people and 4 days of brainstorming, sketching, prototyping and then presenting to the government.
Full story

+20 pNPS

pNPS increase from -21 to +20
Product
Recruit
Problem to solve
The team saw that their pNPS kept falling and new they needed to break the trend.
Process
7 people and 4 days of brainstorming, sketching, prototyping and finally usability testing with recruiters.
Full story

+3 customers

gained new customers the week after the sprint
Product
Visma Real Estate
Problem to solve
The teams needed to merge two products into one, helping settlement workers prioritise tasks and save time.
Process
7 people and 4 days of brainstorming, sketching, prototyping and finally usability testing with settlement workers.
Full story

What makes a good North Star?

It expresses value
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We can see why it matters to customers
It’s actionable
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We can take action to influence it
It’s not a vanity metric
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We can be confident that the change is meaningful and valuable
It’s a leading indicator of success
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It predicts future results, rather than reflecting past results
It’s understandable
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Language that non-technical partners can understand
It represents vision and strategy
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Our company’s product and business strategy are reflected in it
It’s measurable
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We can instrument our product to track it

Create your own Product Strategy

As stated in this article, #strategy is about making specific choices to win in the marketplace. According to Mike Porter, author of Competitive Strategy, a company creates a sustainable competitive advantage over its competitors by “deliberately choosing a different set of activities to deliver unique value.”

Strategy therefore requires making explicit choices— to do some things and not others— and building a business around those choices. In short, strategy is a choice. More specifically, strategy is an integrated set of choices that uniquely positions the firm in its industry so as to create sustainable advantage and superior value relative to the competition.

Infinity symbol icon
Understand, Define, Validate
Clock icon
1h preparation & alignment, team preparation work, 4 day workshop, teamwork between workshop days
Users icon
Company Leadership, Product Management, Customer Success, Senior Sales rep., Senior Marketing rep., Senior Support rep., UX Lead, Product team
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Tab 2
Tab 3
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Tab 5
Before

1. Understand. Before you dive in, learn more about Playing to Win: How Strategy Really Works.‍

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2. Prepare and align. A Product Strategy Sprint is best to run with participants from several different departments in your company. Which individuals do you think have opinions that would contribute to an interesting discussion? Make sure that your prospective participants know they are in for a high-level discussion about where to play and how to win. In addition, a Product Strategy Sprint is best run when a clear vision and mission is already in place.‍

‍

3. Settle on participants and get commitment. Participating in a Product Strategy Sprint requires concentration and mental effort. If several participants are missing from the workshop, discussion will be impaired and the value of the workshop reduced. Of course, urgent phone calls can be answered, but we strongly recommend participants to prioritise the workshop over daily matters.‍

‍

4. Do the preparation work. Before the workshop, there are a few preparations you need to do to make sure everyone has a good understanding of the current market and customers, core features and sweet spot customers. In addition, we also suggest that you do a SWOT analysis, fill out a Product Health Radar among other things, before going into the workshop itself, as this will help align the team. We recommend using our Mural template which contains all the recommended exercises and needed templates in chronological order. 

During

5. Follow the schedule of the Product Strategy Sprint, for instance using our Mural template which contains all the recommended exercises and needed templates in chronological order. some text

  • Go through the preparation work. During the first day, spend some time in the beginning to recap the preparation work, and note down any questions and opportunities that arise from the walkthrough.
  • Map out where to play and how to win opportunities. The broad outline for the first workshop day is to map out the potential markets to play in, and aim to find opportunities worth addressing while pushing for innovation. The aim of the day is to map out the opportunity landscape, and land with initial where-to-play and how-to-win choices that make the most sense to your business.
  • Complete the recommended post-work before the second workshop day.
  • Decide what to prioritise in order to win. The broad outline for the second workshop day is to identify the objectives you should prioritise in order to win, and frame winning by establishing a solid positioning for each market that makes sense given your capabilities. The aim of the day is to land the product objectives to prioritise going forward.
  • Shorten your odds of winning and place the final bets. On the third and final workshop day, start with reverse-engineering your plan to map out the risks, and form experiments to de-risk your product strategy. Conclude by finalising your prioritised product objectives, sequence them and reflect on how much to invest in each.
  • Reflect. After the workshop, score your product strategy by reflecting on strategic fit, opportunities and risk reduction.

At the end of the workshop, teams are expected to have achieved alignment on where to play and how to win, have a set of product objectives to act on, and know how much to invest in each. Teams are also expected to have a good understanding of how to experiment and de-risk their initiatives.

After

6. Validate with stakeholders and leadership. Once you have settled on a new product strategy, it is time to verify with stakeholders and get approval from leadership. ‍

‍

7. Communicate to teams. The product strategy is meant to be useful for all team members. Make sure it is presented to everyone and referred to in roadmap and sprint planning. ‍

‍

8. Follow up. Regularly organise check-ins where team members can reflect on the work they are doing and how it contributes to the product strategy.

Learn more
Before

1. Understand. Before you dive in, learn more about Playing to Win: How Strategy Really Works.‍

‍

2. Prepare and align. A Product Strategy Sprint is best to run with participants from several different departments in your company. Which individuals do you think have opinions that would contribute to an interesting discussion? Make sure that your prospective participants know they are in for a high-level discussion about where to play and how to win. In addition, a Product Strategy Sprint is best run when a clear vision and mission is already in place.‍

‍

3. Settle on participants and get commitment. Participating in a Product Strategy Sprint requires concentration and mental effort. If several participants are missing from the workshop, discussion will be impaired and the value of the workshop reduced. Of course, urgent phone calls can be answered, but we strongly recommend participants to prioritise the workshop over daily matters.‍

‍

4. Do the preparation work. Before the workshop, there are a few preparations you need to do to make sure everyone has a good understanding of the current market and customers, core features and sweet spot customers. In addition, we also suggest that you do a SWOT analysis, fill out a Product Health Radar among other things, before going into the workshop itself, as this will help align the team. We recommend using our Mural template which contains all the recommended exercises and needed templates in chronological order. 

During

5. Follow the schedule of the Product Strategy Sprint, for instance using our Mural template which contains all the recommended exercises and needed templates in chronological order. some text

  • Go through the preparation work. During the first day, spend some time in the beginning to recap the preparation work, and note down any questions and opportunities that arise from the walkthrough.
  • Map out where to play and how to win opportunities. The broad outline for the first workshop day is to map out the potential markets to play in, and aim to find opportunities worth addressing while pushing for innovation. The aim of the day is to map out the opportunity landscape, and land with initial where-to-play and how-to-win choices that make the most sense to your business.
  • Complete the recommended post-work before the second workshop day.
  • Decide what to prioritise in order to win. The broad outline for the second workshop day is to identify the objectives you should prioritise in order to win, and frame winning by establishing a solid positioning for each market that makes sense given your capabilities. The aim of the day is to land the product objectives to prioritise going forward.
  • Shorten your odds of winning and place the final bets. On the third and final workshop day, start with reverse-engineering your plan to map out the risks, and form experiments to de-risk your product strategy. Conclude by finalising your prioritised product objectives, sequence them and reflect on how much to invest in each.
  • Reflect. After the workshop, score your product strategy by reflecting on strategic fit, opportunities and risk reduction.

At the end of the workshop, teams are expected to have achieved alignment on where to play and how to win, have a set of product objectives to act on, and know how much to invest in each. Teams are also expected to have a good understanding of how to experiment and de-risk their initiatives.

After

6. Validate with stakeholders and leadership. Once you have settled on a new product strategy, it is time to verify with stakeholders and get approval from leadership. ‍

‍

7. Communicate to teams. The product strategy is meant to be useful for all team members. Make sure it is presented to everyone and referred to in roadmap and sprint planning. ‍

‍

8. Follow up. Regularly organise check-ins where team members can reflect on the work they are doing and how it contributes to the product strategy.

Learn more
Before

1. Understand. Before you dive in, learn more about Playing to Win: How Strategy Really Works.‍

‍

2. Prepare and align. A Product Strategy Sprint is best to run with participants from several different departments in your company. Which individuals do you think have opinions that would contribute to an interesting discussion? Make sure that your prospective participants know they are in for a high-level discussion about where to play and how to win. In addition, a Product Strategy Sprint is best run when a clear vision and mission is already in place.‍

‍

3. Settle on participants and get commitment. Participating in a Product Strategy Sprint requires concentration and mental effort. If several participants are missing from the workshop, discussion will be impaired and the value of the workshop reduced. Of course, urgent phone calls can be answered, but we strongly recommend participants to prioritise the workshop over daily matters.‍

‍

4. Do the preparation work. Before the workshop, there are a few preparations you need to do to make sure everyone has a good understanding of the current market and customers, core features and sweet spot customers. In addition, we also suggest that you do a SWOT analysis, fill out a Product Health Radar among other things, before going into the workshop itself, as this will help align the team. We recommend using our Mural template which contains all the recommended exercises and needed templates in chronological order. 

During

5. Follow the schedule of the Product Strategy Sprint, for instance using our Mural template which contains all the recommended exercises and needed templates in chronological order. some text

  • Go through the preparation work. During the first day, spend some time in the beginning to recap the preparation work, and note down any questions and opportunities that arise from the walkthrough.
  • Map out where to play and how to win opportunities. The broad outline for the first workshop day is to map out the potential markets to play in, and aim to find opportunities worth addressing while pushing for innovation. The aim of the day is to map out the opportunity landscape, and land with initial where-to-play and how-to-win choices that make the most sense to your business.
  • Complete the recommended post-work before the second workshop day.
  • Decide what to prioritise in order to win. The broad outline for the second workshop day is to identify the objectives you should prioritise in order to win, and frame winning by establishing a solid positioning for each market that makes sense given your capabilities. The aim of the day is to land the product objectives to prioritise going forward.
  • Shorten your odds of winning and place the final bets. On the third and final workshop day, start with reverse-engineering your plan to map out the risks, and form experiments to de-risk your product strategy. Conclude by finalising your prioritised product objectives, sequence them and reflect on how much to invest in each.
  • Reflect. After the workshop, score your product strategy by reflecting on strategic fit, opportunities and risk reduction.

At the end of the workshop, teams are expected to have achieved alignment on where to play and how to win, have a set of product objectives to act on, and know how much to invest in each. Teams are also expected to have a good understanding of how to experiment and de-risk their initiatives.

After

6. Validate with stakeholders and leadership. Once you have settled on a new product strategy, it is time to verify with stakeholders and get approval from leadership. ‍

‍

7. Communicate to teams. The product strategy is meant to be useful for all team members. Make sure it is presented to everyone and referred to in roadmap and sprint planning. ‍

‍

8. Follow up. Regularly organise check-ins where team members can reflect on the work they are doing and how it contributes to the product strategy.

Learn more
Before

1. Understand. Before you dive in, learn more about Playing to Win: How Strategy Really Works.‍

‍

2. Prepare and align. A Product Strategy Sprint is best to run with participants from several different departments in your company. Which individuals do you think have opinions that would contribute to an interesting discussion? Make sure that your prospective participants know they are in for a high-level discussion about where to play and how to win. In addition, a Product Strategy Sprint is best run when a clear vision and mission is already in place.‍

‍

3. Settle on participants and get commitment. Participating in a Product Strategy Sprint requires concentration and mental effort. If several participants are missing from the workshop, discussion will be impaired and the value of the workshop reduced. Of course, urgent phone calls can be answered, but we strongly recommend participants to prioritise the workshop over daily matters.‍

‍

4. Do the preparation work. Before the workshop, there are a few preparations you need to do to make sure everyone has a good understanding of the current market and customers, core features and sweet spot customers. In addition, we also suggest that you do a SWOT analysis, fill out a Product Health Radar among other things, before going into the workshop itself, as this will help align the team. We recommend using our Mural template which contains all the recommended exercises and needed templates in chronological order. 

During

5. Follow the schedule of the Product Strategy Sprint, for instance using our Mural template which contains all the recommended exercises and needed templates in chronological order. some text

  • Go through the preparation work. During the first day, spend some time in the beginning to recap the preparation work, and note down any questions and opportunities that arise from the walkthrough.
  • Map out where to play and how to win opportunities. The broad outline for the first workshop day is to map out the potential markets to play in, and aim to find opportunities worth addressing while pushing for innovation. The aim of the day is to map out the opportunity landscape, and land with initial where-to-play and how-to-win choices that make the most sense to your business.
  • Complete the recommended post-work before the second workshop day.
  • Decide what to prioritise in order to win. The broad outline for the second workshop day is to identify the objectives you should prioritise in order to win, and frame winning by establishing a solid positioning for each market that makes sense given your capabilities. The aim of the day is to land the product objectives to prioritise going forward.
  • Shorten your odds of winning and place the final bets. On the third and final workshop day, start with reverse-engineering your plan to map out the risks, and form experiments to de-risk your product strategy. Conclude by finalising your prioritised product objectives, sequence them and reflect on how much to invest in each.
  • Reflect. After the workshop, score your product strategy by reflecting on strategic fit, opportunities and risk reduction.

At the end of the workshop, teams are expected to have achieved alignment on where to play and how to win, have a set of product objectives to act on, and know how much to invest in each. Teams are also expected to have a good understanding of how to experiment and de-risk their initiatives.

After

6. Validate with stakeholders and leadership. Once you have settled on a new product strategy, it is time to verify with stakeholders and get approval from leadership. ‍

‍

7. Communicate to teams. The product strategy is meant to be useful for all team members. Make sure it is presented to everyone and referred to in roadmap and sprint planning. ‍

‍

8. Follow up. Regularly organise check-ins where team members can reflect on the work they are doing and how it contributes to the product strategy.

Learn more
Before

1. Understand. Before you dive in, learn more about Playing to Win: How Strategy Really Works.‍

‍

2. Prepare and align. A Product Strategy Sprint is best to run with participants from several different departments in your company. Which individuals do you think have opinions that would contribute to an interesting discussion? Make sure that your prospective participants know they are in for a high-level discussion about where to play and how to win. In addition, a Product Strategy Sprint is best run when a clear vision and mission is already in place.‍

‍

3. Settle on participants and get commitment. Participating in a Product Strategy Sprint requires concentration and mental effort. If several participants are missing from the workshop, discussion will be impaired and the value of the workshop reduced. Of course, urgent phone calls can be answered, but we strongly recommend participants to prioritise the workshop over daily matters.‍

‍

4. Do the preparation work. Before the workshop, there are a few preparations you need to do to make sure everyone has a good understanding of the current market and customers, core features and sweet spot customers. In addition, we also suggest that you do a SWOT analysis, fill out a Product Health Radar among other things, before going into the workshop itself, as this will help align the team. We recommend using our Mural template which contains all the recommended exercises and needed templates in chronological order. 

During

5. Follow the schedule of the Product Strategy Sprint, for instance using our Mural template which contains all the recommended exercises and needed templates in chronological order. some text

  • Go through the preparation work. During the first day, spend some time in the beginning to recap the preparation work, and note down any questions and opportunities that arise from the walkthrough.
  • Map out where to play and how to win opportunities. The broad outline for the first workshop day is to map out the potential markets to play in, and aim to find opportunities worth addressing while pushing for innovation. The aim of the day is to map out the opportunity landscape, and land with initial where-to-play and how-to-win choices that make the most sense to your business.
  • Complete the recommended post-work before the second workshop day.
  • Decide what to prioritise in order to win. The broad outline for the second workshop day is to identify the objectives you should prioritise in order to win, and frame winning by establishing a solid positioning for each market that makes sense given your capabilities. The aim of the day is to land the product objectives to prioritise going forward.
  • Shorten your odds of winning and place the final bets. On the third and final workshop day, start with reverse-engineering your plan to map out the risks, and form experiments to de-risk your product strategy. Conclude by finalising your prioritised product objectives, sequence them and reflect on how much to invest in each.
  • Reflect. After the workshop, score your product strategy by reflecting on strategic fit, opportunities and risk reduction.

At the end of the workshop, teams are expected to have achieved alignment on where to play and how to win, have a set of product objectives to act on, and know how much to invest in each. Teams are also expected to have a good understanding of how to experiment and de-risk their initiatives.

After

6. Validate with stakeholders and leadership. Once you have settled on a new product strategy, it is time to verify with stakeholders and get approval from leadership. ‍

‍

7. Communicate to teams. The product strategy is meant to be useful for all team members. Make sure it is presented to everyone and referred to in roadmap and sprint planning. ‍

‍

8. Follow up. Regularly organise check-ins where team members can reflect on the work they are doing and how it contributes to the product strategy.

Learn more
Before

1. Understand. Before you dive in, learn more about Playing to Win: How Strategy Really Works.‍

‍

2. Prepare and align. A Product Strategy Sprint is best to run with participants from several different departments in your company. Which individuals do you think have opinions that would contribute to an interesting discussion? Make sure that your prospective participants know they are in for a high-level discussion about where to play and how to win. In addition, a Product Strategy Sprint is best run when a clear vision and mission is already in place.‍

‍

3. Settle on participants and get commitment. Participating in a Product Strategy Sprint requires concentration and mental effort. If several participants are missing from the workshop, discussion will be impaired and the value of the workshop reduced. Of course, urgent phone calls can be answered, but we strongly recommend participants to prioritise the workshop over daily matters.‍

‍

4. Do the preparation work. Before the workshop, there are a few preparations you need to do to make sure everyone has a good understanding of the current market and customers, core features and sweet spot customers. In addition, we also suggest that you do a SWOT analysis, fill out a Product Health Radar among other things, before going into the workshop itself, as this will help align the team. We recommend using our Mural template which contains all the recommended exercises and needed templates in chronological order. 

During

5. Follow the schedule of the Product Strategy Sprint, for instance using our Mural template which contains all the recommended exercises and needed templates in chronological order. some text

  • Go through the preparation work. During the first day, spend some time in the beginning to recap the preparation work, and note down any questions and opportunities that arise from the walkthrough.
  • Map out where to play and how to win opportunities. The broad outline for the first workshop day is to map out the potential markets to play in, and aim to find opportunities worth addressing while pushing for innovation. The aim of the day is to map out the opportunity landscape, and land with initial where-to-play and how-to-win choices that make the most sense to your business.
  • Complete the recommended post-work before the second workshop day.
  • Decide what to prioritise in order to win. The broad outline for the second workshop day is to identify the objectives you should prioritise in order to win, and frame winning by establishing a solid positioning for each market that makes sense given your capabilities. The aim of the day is to land the product objectives to prioritise going forward.
  • Shorten your odds of winning and place the final bets. On the third and final workshop day, start with reverse-engineering your plan to map out the risks, and form experiments to de-risk your product strategy. Conclude by finalising your prioritised product objectives, sequence them and reflect on how much to invest in each.
  • Reflect. After the workshop, score your product strategy by reflecting on strategic fit, opportunities and risk reduction.

At the end of the workshop, teams are expected to have achieved alignment on where to play and how to win, have a set of product objectives to act on, and know how much to invest in each. Teams are also expected to have a good understanding of how to experiment and de-risk their initiatives.

After

6. Validate with stakeholders and leadership. Once you have settled on a new product strategy, it is time to verify with stakeholders and get approval from leadership. ‍

‍

7. Communicate to teams. The product strategy is meant to be useful for all team members. Make sure it is presented to everyone and referred to in roadmap and sprint planning. ‍

‍

8. Follow up. Regularly organise check-ins where team members can reflect on the work they are doing and how it contributes to the product strategy.

Learn more
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Templates

For every workshop facilitated with Visma companies, the templates used by the Product Discovery team are continuously improved upon. Whether you want to facilitate your own Product Vision Sprint, or just learn more about what a workshop facilitated by us could look like, these are the templates we recommend you to take a look at.

Product Vision and Strategy board

Use this template on Mural to facilitate a Product Vision and Strategy Sprint.

Tool recommendations

Ultimately, the choice of design tool depends on the specific needs of the designer and the project at hand. Each tool has its strengths and weaknesses, and designers must consider factors such as cost, ease of use, and collaboration features when selecting the best tool for their needs.

Mural

Mural

Mural offers both a shared workspace and training, a practical way to collaborate that anyone can learn and apply.
Google Meet

Google Meet

Real-time meetings using your browser, share your video, desktop, and presentations with teammates and customers.
Google Slides

Google Slides

Create stunning presentations with Google Slides. Discover slide templates for every use case.
Google Sheets

Google Sheets

Create and edit online spreadsheets. Get insights together with secure sharing in real-time and from any device.
Google Docs

Google Docs

Create, and collaborate on online documents. Edit together with secure sharing in real-time and from any device.
Product Strategy Sprint

Are you ready to create your own Product Strategy?

Sign up for a
Product Strategy Sprint
Product Analytics in Visma's MD Summit preview image

Unlocking Rapid Innovation: The Power of Design Sprints

Discover how Design Sprints can accelerate innovation and problem-solving, transforming ideas into actionable solutions in just 4 days.
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Success stories

Knowledge is meant to be shared. Explore the cards below to learn more about how companies around Visma have leveraged their teams to work better with turning data into insights.

Success story image preview

North Star

Lessons from Dinero: How to operationalise your product strategy with a North Star

Success story image preview

North Star

Lessons from ProActive: How to engage teams with an inspiring North Star

North Star

Lessons from ProActive: How to successfully implement and follow up on a North Star

Design Sprint

From Mockup to pNPS UP in Visma Recruit

North Star

Lessons from Ecare: How to help customers thrive with a meaningful North Star

Design Sprint

Lessons from Viskan: How to speed up product development and foster collaboration with Design Sprints

Design Sprint

How to drive innovation and transform a team in 4 days

Success story image preview

Design Sprint

How to win a €3.2 million deal without writing a single line of code

Product Vision Sprint

Lessons from Resolve: How to unite teams and create a foundation for the future with Product Vision Sprint

Success story image preview

Design Sprint

Lessons from Giant Leap: How to go to market with confidence with Design Sprints

Want to learn more?

Get in touch with our team

product.discovery@visma.com
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