How To Use The Product Vision Statement As A Compass For Your Roadmap

What's your product's vision statement? If it didn't come to mind right away, you're likely part of the majority of companies that have treated their vision statements as one off exercises. 

In this episode, Hannah Clark is joined by Radhika Dutt—Author of Radical Product Thinking and Chief Product Officer at Moveprice—to talk about how most vision statements are a diamond in the rough, but have the potential to be a tool for flattening barriers, guiding innovation, and aligning cross functional teams. 

Tune in to learn how to use the product vision statement as a compass for your roadmap!

Interview Highlights

  • Radhika’s background [0:55]
    • Started as an entrepreneur - her first start up began in her dorm room at MIT with 4 other co-founders. 
    • They wanted to revolutionize wireless but didn’t know what that meant. They had caught “hero syndrome” - they didn’t know what they wanted to solve, they just wanted it to be big. 
  • Product diseases [3:22]
    • Hero syndrome - the desire to be big, but without really knowing what it is that you want to solve in the first place.
    • Obsessive sales disorder - when your salesperson asks for features to win over specific customers.
    • Narcissist complex (in an engineering organization) - we are in love and enamored with the thing we built and believe others will also love it.
    • Pivot-itis - we keep pivoting from one thing to the next. It’s not that you shouldn’t pivot, but you need to think of a pivot as a silver bullet. You only have 2 or 3 pivots before you run out of money or momentum.

It's not that you shouldn't pivot, but every pivot you have to think of it like a silver bullet.

Radhika Dutt
  • Are we doomed to trial and error? [5:07]
    • The startup world tells us that we need to build products through trial and error. That’s the first myth we need to shed.
    • What is the problem that needs to be solved? Why does it need to be solved? And, how are you going to solve it?
    • Radical product thinking has 4 elements: vision statement, strategy, and hypothesis driven execution and measurement 
    • Vision statements
      • Who: who’s world are we setting out to change?
      • What: what problem are we trying to solve?
      • Why: why does that problem need to be solved? Sometimes it doesn’t need to be solved…
      • When: when can you say mission accomplished?
      • How: your product.
    • Every person working on a project needs to translate the product vision of the product translated to their own work.
  • What are some of the complexities involved in advocating for your own vision as a woman of color? [11:45]
    • As part of a marginalized group, it’s a lot harder to be heard. It’s harder for a woman of colour to take ownership of the vision when it comes from a man at the top who is leading with toxic masculinity.
    • Radhika uses the radical thinking vision statement by first filling it out for herself, then she uses it as a group exercise with her team. For two reasons:
      • To get other people’s perspectives, so you can better define the vision.
      • When people share their perspectives, it helps them feel heard. Which in turn helps create buy-in for people to internalize the vision.
  • How do you balance the need to preserve your vision and do what’s best for the business? [14:07]
    • Vision statements are often seen as a one time thing.
    • Instead, you want to use this vision in everyday decisions.
    • As a leader, you make decisions by balancing the short term and the long term. 
    • There is an x and y axis for decision making (vision vs survival)
      • Sometimes you need to do things that are helping the vision but aren’t good for the short term.
      • No quadrant is bad, but you need to talk with your team. 
      • Vision debt - you're doing things that are good for survival in the short term but it's bad for your vision fit.
        • Vision debt is even worse than technical debt - it’s debt that you can’t get out of because you can’t easily fire a customer.
        • Every time you take on vision debt, create a discipline of asking “how am I going to invest in the vision?”

If your stakeholders don't approve of the job that you're doing or don't approve of how your product is doing, they can kill your product.

Radhika Dutt
  • How can you avoid or limit vision debt? [20:27]
    • Prioritization
    • Using vision versus survival to communicate priorities and your way of thinking.
    • As a leader, you want people to think like you and to understand your rationale and be able to talk through that.

If your product does not bring about the change that you specifically intended, then it is not a successful product.

Radhika Dutt

Meet Our Guest

Radhika Dutt is the author of Radical Product Thinking: The New Mindset for Innovating Smarter which has been translated into several languages including Chinese and Japanese. She is an entrepreneur and product leader who has participated in five acquisitions, two of which were companies that she founded. She advises organizations from high-tech startups to government agencies on building radical products that create a fundamental change. She is currently Advisor on Product Thinking to the Monetary Authority of Singapore, and serves on the board of the independent publisher, Berrett Koehler. Radhika has built products in a wide range of industries including broadcast, media and entertainment, telecom, advertising technology, government, consumer apps, robotics, and even wine. She graduated from MIT with an SB and M.Eng in Electrical Engineering, and speaks nine languages.

photo of Radhika Dutt

It's not just that one person's vision that makes a vision come alive. Every person who is working on a product needs to make that vision their own and translate that vision into their own actions.

Radhika Dutt

Resources From This episode:

You may also like