Many companies become "feature factories" — constantly adding new features while core problems remain unsolved. Marty Cagan: a good product team focuses on outcome (results), not output (number of features shipped).
For product strategy: define your North Star Metric (the single growth indicator that unites the whole team). Then product vision (5–10 years) and mission, followed by a quarterly roadmap. Discovery (identifying the problem) and Delivery (building the solution) should run in parallel. Teresa Torres's Opportunity Solution Tree method helps link problems to solutions.
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