How do you produce forward-looking vision or strategy that required you to look into different tech and business use cases and present a buy-in from sponsors

In one of my previous company in Construction domain, I was tasked with developing a vision and strategy for their construction workflow automation SaaS software. This involved looking into various technological advancements and exploring their potential applications within our business context.

Here's how I approached this challenge:

1. Deep Dive into Industry Trends and Emerging Technologies:

• Technology Exploration: I began by researching emerging technologies relevant to the product area. For example, if I were working on a product for the construction industry, I would research advancements in:

  • AI/ML: Computer vision for construction site safety, predictive maintenance for equipment, AI-powered project scheduling.

  • IoT: Smart sensors for real-time monitoring of construction progress, environmental conditions, and equipment performance.

  • AR/VR: Virtual and augmented reality for construction site visualization, training, and remote collaboration.

  • Blockchain: For secure and transparent supply chain management and contract tracking.

• Industry Analysis: I analyzed industry reports, white papers, and attended industry conferences (like CONEXPO-CON/AGG for construction) to understand the latest trends, challenges, and opportunities in the construction industry.

• Competitive Analysis: I researched competitors and analyzed their use of technology, identifying their strengths and weaknesses, and identifying potential areas for differentiation.

2. Identify and Prioritize Potential Use Cases:

• Brainstorming Sessions: I facilitated brainstorming sessions with cross-functional teams (engineers, designers, product managers, marketing, sales, and even potential customers) to explore potential use cases for these technologies.

• User Story Mapping: We used user story mapping to visualize the user journey and identify pain points and opportunities where technology could provide significant value.

• Prioritization Matrix: We prioritized potential use cases based on factors such as:

  • Feasibility: How technically and economically feasible is the implementation?

  • Impact: How significant will the impact be on user experience, business value, and competitive advantage?

  • Urgency: How quickly do we need to address this opportunity?

3. Develop a Vision and Roadmap:

• Define the Vision: Based on the prioritized use cases, I developed a compelling and ambitious vision for the product, outlining its long-term goals and how it would address the evolving needs of the construction industry.

• Create a Roadmap: I translated the vision into a detailed roadmap with prioritized initiatives, timelines, milestones, and resource allocation. This roadmap served as a guide for the product development team, ensuring alignment and focus.

4. Communicate and Gain Alignment:

• Stakeholder Presentations: I presented the vision and roadmap to key stakeholders, including senior leadership, product teams, engineering teams, and potential customers.

• Address Concerns and Feedback: I actively sought feedback and addressed concerns from stakeholders, ensuring buy-in and alignment across the organization.

• Regular Reviews and Adjustments: I established a process for regularly reviewing and adjusting the vision and roadmap based on new insights, market changes, and technological advancements.

Example:

When I was working on a construction project management software. Based on my research, I identified the potential of AI-powered predictive maintenance for construction equipment. I then:

• Brainstormed with engineers: Explored how to integrate sensor data from construction equipment to predict potential equipment failures before they occur.

• Collaborated with designers: Designed a user interface that would visualize equipment health data and provide proactive maintenance alerts.

• Developed a pilot program: Conducted a pilot program with a select group of customers to test the feasibility and effectiveness of the predictive maintenance feature.

• Refined the roadmap: Based on the pilot program's results, I refined the roadmap, prioritizing the development of the predictive maintenance feature and adjusting the timeline accordingly.

By following this approach, I was able to develop a forward-looking vision for the product that leveraged emerging technologies to create a significant competitive advantage and deliver exceptional value to our customers.