Strategize: Product Strategy and Product Roadmap Practices for the Digital Age

by Roman Pichler

FIGURE 12: The Extended Product Vision Board The first and second rows of the board in Figure 12 are identical to the standard Product Vision Board. The business model is captured in the bottom row, which is inspired by the Business Model Canvas and provides the following four sections: •Competitors describes the strengths and weaknesses of the competition and their products. It uses your insights from performing a competitor analysis and helps ensure that your product stands out. •Revenue Sources captures the way your product generates money: for instance, by selling licenses, subscriptions, or online or in-app ads, or by charging for premium features. •Cost Factors states the cost incurred by developing, marketing, selling, and supporting your product. This includes the cost of acquiring users and customers, purchasing third-party components, and paying for the services and products provided by partners and suppliers. •Channels are the ways you will contact your users and customers to inform them about your product and to sell and deliver the product. The latter can range from implementing the requirements of an online app store to working with retailers to get some shelf space for a shrink-wrapped product. Consider if the appropriate sales and marketing channels already exist, or if you have to create or acquire them. You can download the Extended Vision Board for free from my website, where more information on the tool is available.