Product Vision vs. product vision

There exists a distinction between "Product Vision" and "product vision," which goes beyond their differing capitalization. Our focus here is on the latter.

Product Vision

A capitalized Product Vision serves as a succinct, aspirational statement outlining the intended direction of a product. This is often confused with the broader Company Vision or Mission. Notable examples include:

• Slack: Simplifying work life to make it more enjoyable and productive.
• Zoom: Ensuring seamless video communication.
• LinkedIn: Creating economic opportunities for every global workforce member.

What makes these statements effective is their directional nature—they inspire employees and guide decision-making without pigeonholing anyone into creating a product that may not resonate with users. They prioritize user needs over specific solutions, meaning only significant changes in the landscape would necessitate a shift in vision.

However, that's not our primary focus today.

product vision

On the other hand, a lowercase product vision embodies the specific aspirations you hold as a product leader. This goes beyond the lofty idea of "making the world a better place" and dives into the tangible capabilities your product will offer. It encompasses all the challenges to be addressed, user needs to fulfill, features to implement, and steps needed to realize the dream you've envisioned.

This concept edges into the realm of roadmaps but remains less detailed. It's essentially The Dream (TM)—a well-considered vision that you've cultivated through user interviews and comprehensive research. You may not envision every detail of the user interface, but you understand the system's core capabilities and can already sense the satisfaction users will derive from your product.

This is not mere fantasy; it represents the future of your offering. You can almost taste it.

Yet, here's the truth: Your product vision may be flawed.

The more certain you are about your product's future, the less likely you are to be correct. Consider this—how accurate were your predictions a year ago? The reality is that countless factors can disrupt your meticulously crafted plans, including:

• Unexpected innovations reshaping industries (did you foresee the rise of AI five years ago?)
• Competitors launching groundbreaking features that shift user demands (think iPhone vs. BlackBerry)
• Indicators suggesting your product hasn't achieved Product-Market Fit
• A pivot opportunity becoming apparent (like what happened with Slack)
• A misalignment between your Ideal Customer Profile and actual user needs
• Business developments leading to partnerships that redefine your product's trajectory
• New leadership or funding scenarios that introduce different visions
• Technical challenges that hinder scalability or affordability

Moreover, there's the simpler possibility that you misread user feedback, overly relied on customer input, or inadvertently produced a subpar product due to becoming a feature factory. We've all experienced these pitfalls.

Don't be too hard on yourself; remember that everyone else grapples with similar challenges. While some may have a clearer vision than others, it's comforting to know that no one can perfectly predict the future.

The key is to avoid the negative outcomes of being wrong, such as:

• Blockbuster vs. Netflix and the evolution of streaming
• MySpace vs. Facebook in social media dynamics
• Kodak's decline amidst the rise of digital photography
• BlackBerry's fall against modern smartphones

Instead, aim for positive outcomes, like:

• Slack's initial vision as a video game called Glitch
• Amazon's transformation from "Earth's biggest bookstore"
• Starbucks evolving into a "third place"

So how do you position yourself on the right side of these challenges?

The Solution: A Mindset Shift

1. Accept Reality

Understand that your current product vision is unlikely to materialize as conceived. It's a valuable dream, but still an illusion.

2. Focus on Benefits

Reframe your thoughts from the specifics of your vision to its utility. A well-defined vision offers several advantages:

• Provides a foundation for embracing change.

  • Enables future-proofing by designing features with flexibility in mind.
  • Enhances alignment across teams, fostering clarity and focus.
  • Improves prioritization by illuminating which problems are essential to solve.
  • Encourages innovation by fostering a mindset of possibility rather than limitations.

Beyond your R&D efforts, a robust product vision also positions you favorably against competitors, facilitates strategic partnerships, attracts talent, and instills confidence in investors.

Now that you’ve accepted the reality of your vision and acknowledged its benefits, it’s time to Lucid Dream.

While your product vision may not be entirely accurate, it’s still a valuable tool. Use it to strategize better, build more effectively, and improve continuously.

Learn to lucid dream. Paul Tholey identified four essential conditions for a lucid dream, two of which apply directly to our discussion:

• Awareness of the dream state
• Awareness of the ability to make decisions

Recognizing that your product vision is, indeed, a dream empowers you to adapt it as you progress. Be open to changes, iterate based on new insights, and adjust priorities as necessary.

You may not have all the answers, but by embracing the art of lucid dreaming in product management, you can create a roadmap that leads to meaningful outcomes.

Join us at Momentum, where we aim to simplify project management tools to enhance your workflow. If you’re looking for something better, consider joining our waitlist.

The first video titled "Media Utopia: AI for Good" explores the positive applications of AI technology and its potential to foster societal benefits.

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