Once you set your product goals, initiatives will be the actual steps you’ll need to take that will bring you closer to those goals. Even so, product initiatives don’t have to be tied to a specific goal as long as they’re aligned with your overall product strategy and vision.
The time frame necessary to complete an initiative will vary - from a few months to even a few years. For example, one initiative can be ‘Improve conversion rate to 5%,’ which will take a few months to accomplish, and another one can be ‘Reach 100,000 signups,’ which can take longer to complete.
The important thing is to set a time frame and stick to it, so you can check your progress periodically, measure the results, improve your strategy over time.
Some other examples can be:
In Infinity, you can set aside a folder for product initiatives. Just like goals, they shouldn’t be too complicated. They should only contain enough information to help your team understand the initiative, its requirements and time frame.
It’s easy to see why initiatives are such an important part of your product strategy, but they actually have more than one purpose.
Firstly, they will help you figure out what needs to get done inside and outside the product in order to reach the desired goals. Once you lay them out in the roadmap, you’ll be able to share and track them with the team so everyone can be in the loop.
And finally, you’ll be able to analyze the effort and impact of your initiatives, so you can tweak your product strategy accordingly and know how to best allocate resources.
Here's how you will add product initiatives in Infinity: