Communicate the business plan quickly to keep the product focused on growing the metrics that matter.
Product Focused Business Canvas
All product teams should start their business planning with the simple question of what problem are you trying to solve, what is the solution you are proposing and how does your offering stand out from what is available today for your potential users. With a strong business canvas that lays out the product vision, product managers and the organization can remain laser focused.
Define Your Business Health
To ensure any product idea makes sense as a business product teams need to layout the expected cost to operate the business, the projected revenue and what are the key metrics that will be tracked to see how the company is trending overall. Product managers need to know what moves the company forward in order to properly prioritize features for their product roadmap.
Connect Features To Business
Product managers are responsible to prioritize the features that make it to the product roadmap. As a result, it is critical for product managers to use the business plan and business canvas as a guiding principle to how they prioritize their feature backlog to ensure they are working on items that help move the needle forward for the business.
Create OKR's using a busines canvas
Your Objectives and Key Results that drive your business and product forward should be generated by reviewing your business canvas. From your business canvass you can see what the product vision was and create quarterly objectives to accomplish the vision and define the key results based on the key metrics which move the business forward.