What is a Business Roadmap? Explained

what is a business roadmap

Every Businesses which focused on profits or not, do have a set of goals or a goal to achieve within a period of time which binds with the vision and the mission of the organization. To an organization achieving this goal or target needs a set of steps or a work flow. A high level picture to achieve something can be described by using a roadmap which helps the stake-holders in the organization can understand easy and simply about the organization's next movements towards achieving the goals which they target.

If you own a software development startup, and your ambition is to develop a Human Resource Management System and make it live by the early next financial year, you absolutely need a roadmap. To achieve this high level picture, there needs to be a roadmap to achieve these goals. To make the product live, you might not need a fully completed product, but a minimal viable product which you built upon basic and most required requirements.

Roadmap consist of sub goals which you can achieve with the time for your business. Few possible roadmap goals can be,

  • Sign 5 MOUs with customers for product launches.
  • Develop 60 Functional features for minimal viable product (MVP).
  • Launch website.
  • Launch Social Media Marketing Plan.
  • Pitch product to 50 potential customers.
Likewise, there are many possibilities that you can integrate to a roadmap where you can plan out the next big move of the organization, whether it's a startup or whether it's a small, medium or enterprise business. 

To tell what exactly a roadmap is, you can view the bellow image which is from Facebook, where they showcase their product roadmap in the recent F8 2018.

Facebook 10 year roadmap

Facebook's 10 year Roadmap