Becoming Self Sufficient
Becoming Self-Sufficient is the ultimate goal for Product Teams. This refers to the transition from relying on external funding to generating sufficient revenue and resources to sustain its operations and development independently.
Goal
The goal is to develop the product to the point where it can support itself financially and operationally, reducing dependency on external funding and contributing to the overall health and profitability of the organisation.
Context
An Ecosystem funds a Product Team to develop a product. However, the ecosystem may choose to discontinue funding if the product fails to demonstrate financial viability. To ensure the product’s long-term success, the Product Team must develop strategies to achieve self-sufficiency.
Inputs
| Artifact | Description |
|---|---|
| Product Vision | A high-level and inspirational description of where the product will be in 5 - 10 years. |
| Product Strategy | A high-level plan for achieving the product vision within the next 1-3 years. |
| OKRs | Quarterly objectives and key results set by the Stream Team and the Product Team. |
Outputs
| Artifact | Description | Benefits | Frequency |
|---|---|---|---|
| Product Dashboard | A high-level overview of the Product Team's progress and performance against their key metrics. |
Anti-patterns
- Over-Reliance on Initial Funding: Continuing to rely heavily on initial funding sources without developing a clear plan for revenue generation.
- Inadequate Cost Control: Not implementing effective cost management strategies, which can delay or prevent achieving self-sufficiency.