Main takeaways: - "Vision" vs. "Strategy" vs. "Roadmaps" - Elements of a Product Strategy - 5 steps you can take to define a great strategy

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T O N I G H T ’ S S P E A K E R

7. • “Vision” vs. “Strategy” vs. “Roadmaps”
• Elements of a Product Strategy
• 5 steps to define a great strategy
AGENDA

8. Vision vs. Strategy vs. Roadmaps

10. The network that connects every
business and professional in AEC.
BUILDINGCONNECTED’S VISION STATEMENT

13. 1. Build a network via bid management
2. Grow a thriving SaaS business
3. Expand to new marketplaces
BUILDINGCONNECTED’S STRATEGY

18. • “Vision” vs. “Strategy” vs. “Roadmaps”
DESTINATION vs LANDMARKS vs PROJECTS
• Elements of a Product Strategy
• 5 steps to define a great strategy
AGENDA

19. Elements of a Product Strategy

20. Deliver value + Capture value

23. DESIRABLE
FEASIBLEVIABLE

24. Never manage a contact database again
VALUE PROMISE
BUILDINGCONNECTED EXAMPLE
Network of subcontractors
CREATED VALUE
Great bid management experience
DELIVERED VALUE

25. 1. Build a network via bid management
2. Grow a thriving SaaS business
3. Expand to new marketplaces
BUILDINGCONNECTED’S OVERALL STRATEGY

26. Strategy Statement #1 Strategy Statement #2

27. Sign up customers via a great
black car experience
Drive down prices with ridesharing
Expand to new marketplaces
1.
2.
3.

28. Easy access to private black cars
VALUE PROMISE
Network of black car drivers
CREATED VALUE
App to hail, track and pay
DELIVERED VALUE

29. Cheaper alternative to black cars & taxis
ADDITIONAL VALUE PROMISE
Network of ridesharing drivers
CREATED VALUE
Same app to hail, track and pay
DELIVERED VALUE

30. Sign up customers via a great
black car experience
Drive down prices with ridesharing
Expand to new marketplaces
1.
2.
3.

32. ?????
VALUE PROMISE
?????
CREATED
VALUE
?????
DELIVERED VALUE
Vision Strategy Statement #1
?????
NORTH STAR

33. • “Vision” vs. “Strategy” vs. “Roadmaps”
DESTINATION vs LANDMARKS vs PROJECTS
• Elements of a Product Strategy
VALUE PROMISE -> CREATE VALUE -> DELIVER VALUE
• 5 steps to define a great strategy
AGENDA

34. 5 Steps to Define a Great Strategy

35. Craft a vision with your team
5 STEPS TO DEFINE A GREAT STRATEGY
1.

38. Craft a vision with your team
Identify your moat
1.
2.
5 STEPS TO DEFINE A GREAT STRATEGY

40. Great ideas are often easy to copy.
What protects you?
HOW ARE YOU DEFENSIBLE?

41. • Network Effects
BUILDINGCONNECTED, FACEBOOK, LINKEDIN
• Economies of Scale
AMAZON, GOOGLE, BOEING
• High Switching Costs
SALESFORCE, APPLE, MICROSOFT
• Brand Loyalty
TRADER JOE’S, TESLA, AMAZON
COMMON DEFENSIBLE STRATEGIES

42. • Great UX
GOOD WAY TO GET CUSTOMERS, BUT EASY TO REPLICATE
• Features
NECESSARY TO WIN/KEEP CUSTOMERS, BUT EASY TO REPLICATE
• First-mover advantage
NOT DEFENSIBLE UNLESS YOU HAVE SOME WAY
TO PATENT OR PROTECT YOUR IDEA
NOT DEFENSIBLE

43. Craft a vision with your team
Identify your moat
Align on next landmark
1.
2.
3.
5 STEPS TO DEFINE A GREAT STRATEGY

45. THIS SETS THE LANDMARK

46. Easy access to black cars
VALUE PROMISE
Network of black car drivers
CREATED VALUE
App to hail, track and pay
DELIVERED VALUE

47. Craft a vision with your team
Identify your moat
Align on next landmark
Sequence
1.
2.
3.
4.
5 STEPS TO DEFINE A GREAT STRATEGY

48. Get big on DVDs
Lead in downloads (aka “streaming”)
Expand everywhere
1.
2.
3.
www.gibsonbiddle.com

49. Create a low volume car, which
will necessarily be expensive
Use that money to create a less
expensive, medium volume car
Use that money to create an
affordable high volume car
1.
2.
3.

51. Craft a vision with your team
Identify your moat
Align on next landmark
Sequence
Test for “no”
1.
2.
3.
4.
5.
5 STEPS TO DEFINE A GREAT STRATEGY

52. Does it actually help you say “no”?

53. 1. Make Bid Board valuable to individual users
Did not help say “no”
FORMER BID BOARD STRATEGY
2. Make Bid Board great for teams
3. Make Bid Board transformative for businesses

54. 1. Replace Excel as the system
subcontractors use to track their bids.
NEW BID BOARD STRATEGY
2. Convince subs to move files to the cloud.
3. Replace Outlook and Sticky-Notes as
the way subs track activities and tasks.

55. Craft a vision with your team
Identify your moat
Align on next landmark
Sequence
Test for “no”
5 STEPS TO DEFINE A GREAT STRATEGY
1.
2.
3.
4.
5.

56. Is it a “good” strategy?

62. Closing thoughts

63. • Vision = destination (North Star)
• Strategy = landmarks
• Roadmap = projects along the way
RECAP

64. DESIRABLE
FEASIBLEVIABLE

65. Craft a vision with your team
Identify your moat
Align on your first landmark
Sequence
Test for “no”
5 STEPS TO DEFINE A GREAT STRATEGY
1.
2.
3.
4.
5.
6. Tell everybody. All the time. Always.

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