How to Set Smart, Measurable Product Goals

 

Product goals are the highest level objectives regarding the product - the big, bold ideas of where you imagine your product and your business in the future. They should be the crucial achievements that need to happen to turn your vision into reality.

By keeping these goals always in front of you and your team, it will be much easier to focus on what needs to be done and when.

Although product goals are abstract, they should derive from KPIs. In other words, they should be measurable and achievable within a certain time frame.

 

How to Set SMART Goals

Setting goals might turn out more challenging than you expect, but to help you come up with great goals, it’s a good idea to follow the SMART goals methodology that will provide you with detailed guidelines.

Your goals should be:

S = specific, significant, stretching

M = measurable, meaningful, motivational

A = agreed upon, attainable, achievable, acceptable, action-oriented

R = realistic, relevant, reasonable, rewarding, results-oriented

T = time-based, time-bound, timely, tangible, trackable

Aside from creating SMART goals, you’ll need to ensure they are aligned with your overall product strategy and business strategy.

Here are a few examples of high-level product goals that will help you drive your product forward:

  • Become #1 work and data management platform by 2023
  • Become a $1 billion company by 2024
  • Develop an exceptionally secure and trustworthy application by 2021
  • Reach 1 million users by 2023

 

Setting Product Goals in Infinity

Goals will determine the direction of your product and drive the smaller, short-term goals and actions necessary for the strategy execution - initiatives. You can set the goals in a separate folder where all the stakeholders can keep an eye on them, while the product owner and product manager can edit and update this folder.

To set your product goals, you won’t need many details. Here's how you can set product goals in Infinity: 

  • Step 1: Open Goals subfolder in Product Strategy folder.
  • Step 2: Delete the items in this folder - you can keep one and use it as a template. 
  • Step 3: Add a new item by clicking the plus sign below the first column.
  • Step 4: In the Name section write your first goal.
  • Step 5: Add a description of the goal in the Description field. 
  • Step 6: In Requirements, add a checklist of the requirements that need to be met to achieve this goal.
  • Step 7: Add an end date to set the time frame.
  • Step 8: Repeat the process for all your goals.
  • Step 9: Once you start working on these goals, you will move the items along the columns which will change their label from Planning to Working on It, Ongoing and Achieved once the goal is achieved. 

Setting product goals in Infinity

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