The Strategic Value of Internal Product Expertise

The Strategic Value of Internal Product Expertise

In this LinkedIn post, Grant Hunter raises an important point. Many companies are bypassing building internal product talent in favour of acquisitions or outsourcing. And while these approaches can provide short-term gains in velocity, they rarely cultivate enduring innovation and advantage. So, let’s explore the strategic value of internal product expertise…

What’s the Value of Internal Product Expertise? 

Bringing outside capabilities in-house can certainly supplement competencies. However, exceptional people, who intrinsically understand your customers, vision and commercial objectives will think more expansively. Offer those people creative license and they will reward you with game-changing ideas.

Admittedly, establishing proficient product teams is an investment. It requires executive patience, adequate resourcing and acceptance of market uncertainty. Yet the long view pays dividends – once assembled, these groups accumulate know-how and form connections that manifest competitive differentiation over decades.

Quick hits can sustain. Yet resonant brands with perpetual growth mindsets are only achieved by internally immersed, product leaders with an entrepreneurial mindset. Does over-indexing on external partnerships save upfront costs? Perhaps, but by doing so, you send a message that product excellence lives elsewhere.

A balanced view likely sees a blend of both strategies. But in our experience, companies that choose to cultivate their own product people, reap exponential gains in:

  • innovation
  • equity
  • enterprise value

In the end, the choice comes down to prioritising short-term gains or enduring market leadership. We welcome perspectives on achieving both!

Invest in your internal product expertise

Accelerate your product capability by plugging in Spark

We work hand-in-hand with you to identify problems and co-create solutions together… building the skills and communities you need to be self-sustaining. Invest in our private masterclasses, which are focused on YOUR products and organisation. We can deliver them individually, or as part of a programme of learning to get your organisation to the next level.

Let’s talk! Book a virtual chat.

Leave a Comment

Your email address will not be published. Required fields are marked *