What is Product Vision Statement?
A product vision statement is a short, succinct, and compelling description of what your product does and what it means to your customers. It should be written in everyday language so that anyone can understand it without having to be an expert in your industry.
It is important for every member of the team to have an understanding of the product vision and how they can contribute to it. The more people who are on board with the same vision, the more likely you are going to succeed in achieving that vision.
Product vision is a company’s goal for its product. It is the driving force behind the company's decisions, and it should be clear to everyone on the team. A product vision is a company's top-level strategy for what it wants to accomplish and how it wants to get there. It's a guiding light that sets the direction for all the decisions made by a company, from what products are created to how they are marketed.
A product vision can be thought of as a short-term roadmap with long-term goals. It's the foundation that everything else is built on, and it should be clear, concise and compelling.
Product vision should be clear to everyone on the team. Clear product vision will help them stay focused as they work towards that goal. They are able to do this because they know what they are working towards and what success looks like.
Why is Product Vision so important?
- Product vision is important for product managers to have a clear idea of what they want their product to be.
- It helps them focus on the direction of the product and avoid distractions.
- It helps develop a better product roadmap and supports strategic decision-making.
- Product managers need to know what the goals are for their products in order to reach them.
- PMs also need a clear picture of where they want their products to be in the future, so that they can stay focused on what needs to happen now in order to get there.
- It also help you align teams and stakeholders across the company.
Who is Responsible for Defining the Product Vision?
The Product Visionary is responsible for defining the Product Vision and strategy for their company’s products, including what features should be included, when new versions should be released, etc.
Product visionaries are usually responsible for defining the overall goals and strategy for their products. They have to think about what they want their company to look like in 5-10 years and what products they need to create or develop in order to achieve this goal.
The product vision is the overarching goal of a product. It defines what the product will be and how it will be used. The product vision is usually defined by the CEO, founder of a company, or the company's leadership team.