Every great product initiative starts with a simple question:
“What are we actually trying to achieve?”
At ProductM8, we’ve seen too many projects launch with fuzzy intent, unclear metrics, and stakeholders who aren't aligned. That’s why we recommend starting every initiative — big or small — with a clear Initiative Canvas.
It doesn’t need to be fancy. It just needs to be real. And shared. And clear.
Here’s a breakdown of how to fill one in — step by step — along with tips to get to the truth behind each section.
🎯 1. Objectives – What are we trying to change or improve?
This is your why. Objectives help you define the problem or opportunity the initiative is responding to. They're broader than goals, and should explain the impact you hope to have.
✍️ Tips:
- Talk to stakeholders and ask: “If this initiative succeeds, what’s different?”
- Keep it problem-focused not solution-focused.
- Avoid jargon. Make it something your team can rally behind.
Example:
Improve first-time user activation by reducing drop-off in the onboarding flow.
🎯 2. Goals – What does success look like?
Goals make your objectives concrete. They’re SMART (Specific, Measurable, Achievable, Relevant, Time-bound) and help you know when you’ve crossed the finish line.
✍️ Tips:
- Run a pre-mortem: “It’s 6 months from now and this was a wild success. What happened?”
- Use benchmarks: historical data, competitor insights, or known gaps.
- Don’t overdo it — pick 1–3 core goals to stay focused.
Example:
Reduce onboarding drop-off rate from 45% to under 25% within 3 months.
📦 3. Deliverables – What are we actually building or delivering?
This is the tangible output of your initiative — a feature, a campaign, a prototype, an internal tool, etc. It connects your strategy to the actual work.
✍️ Tips:
- Work backward from the goals — what must exist to hit them?
- Co-create this with your team (PMs, designers, engineers).
- Write deliverables in a way that passes the “handshake test” — would someone from another team know what you mean?
Example:
A redesigned onboarding flow with 3 new screens, contextual tooltips, and email reminders.
🗓️ 4. Timeline – When will we deliver, and in what phases?
Timelines help create shared expectations and accountability. They can be flexible, but they shouldn't be vague.
✍️ Tips:
- Break the initiative into phases (e.g., discovery, design, build, validate).
- Add milestones, not just the end date.
- Discuss tradeoffs — what’s realistic vs. ideal?
Example:
- Week 1–2: Research & concept
- Week 3–4: Prototype & test
- Week 5–7: Build
- Week 8: Launch
📊 5. Key Metrics – How will we measure progress and impact?
Metrics are the scorecard for your initiative. They should be aligned with your goals and regularly tracked.
✍️ Tips:
- Ask: “If we succeed, what will change in our dashboards?”
- Mix leading indicators (early signals) and lagging indicators (outcomes).
- Validate with stakeholders — make sure the metrics align with their expectations of success.
Example:
- Activation rate
- Time-to-first-value
- % of users completing onboarding
👥 6. Stakeholders – Who needs to be involved, informed, or aligned?
A successful initiative isn’t built in a vacuum. Identify the key people across product, design, engineering, marketing, ops, etc., who play a role in delivery or decision-making.
✍️ Tips:
- Map them out using RACI (Responsible, Accountable, Consulted, Informed).
- Don’t forget users as a stakeholder group — especially in research-driven initiatives.
- Share your Initiative Canvas early to get alignment and feedback.
Example:
- Product Owner (Responsible)
- Head of Product (Accountable)
- Design Lead (Consulted)
- Support & Marketing (Informed)
🧠 Final Thought: Keep It Live, Not Static
Your Initiative Canvas is not a doc you write once and forget — it’s a living artifact. Revisit it. Update it. Use it to kick off stand-ups, syncs, and retros. It should be the source of truth for your team.
And best of all? It helps everyone focus on outcomes over output.
🛠️ Want a Free Template?
We’re building tools that let you generate, share, and export Initiative Canvases directly from your product idea or sprint plan.
Sign up at productm8.com to create your own Initiartiev Canvas.
TL;DR – The 6 Parts of an Effective Initiative Canvas:
- Objectives – Define the why
- Goals – Make success measurable
- Deliverables – Specify what’s getting done
- Timeline – Align on when and how
- Key Metrics – Track what matters
- Stakeholders – Know who’s in the room
Use it. Share it. Align your team. Deliver better outcomes.
