Quick Framework for Strategy

The Rule of Three to the rescue again. If you need a quick answer to a strategy question, try focusing on three key elements. Here, I quickly map out two approaches.

• Option 1: Focus on the company and User, as you keep that PM user-focus on even strategy questions.

• Option 2: Ask: Does this good idea make sense for this company at this moment in time?

General Tips:

• Don’t forget you are a PM. The difference between a PM and a general strategist or finance executive is the focus on users.

• Don’t forget the scale of an idea. Some ideas are great but not great for the company in question. If you invest in this idea, what else are you giving up.

The Two Approaches:

Approach 1: Think of Company and Users

• Company

• Environment

• Users (Demand)

Approach 2: Sense check are good ideas big enough?

• Company

• Competition

• Scale

Rather than diving into each concept, this is a quick checklist you can use as you practice strategy interviews.

Diving into Approach 1

• Company

  • Mission

  • Strengths

  • Weaknesses

  • Opportunity

  • Threats

  • Right Scale for the Company

• Environment

  • Competition

  • User Demands

  • Technology Development

  • Regulatory Environment

• Users

  • Are their unmet needs?

  • Do they want it?

  • Who wants it?

  • Why?

Diving into Approach 2:

• Company

  • Mission

  • Strengths

  • Weaknesses

  • Opportunity

  • Threats

  • Right Scale for the Company

• Competition

  • How far ahead?

  • How do they differ from us?

• Scale

  • Is this big enough scale to be worth the investment for the company in the prompt?

These are just two simple frameworks for coming up with three reasons to make a strategic decision in an interview (and in life). You can come up with your own quick list of three. Given the timing constraints, you don’t want to come up with too many more.