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Shared Progress Bets (SPBs) are an important concept in Enterprise Agility that helps companies make prudent decisions and investments to prepare for the future. SPBs are essentially strategic bets that aim to create progress towards shared goals between the company, customers, and employees.

When working with products, SPBs can be used to identify new opportunities and make investments that will generate future value. Here are some ways SPBs can be utilized for products:

The key is to take a portfolio approach, balancing SPBs with more incremental product investments. SPB investments should be smaller and timeboxed, serving as learning opportunities. By taking prudent risks and validating assumptions, SPBs can open up breakthrough growth opportunities under a 3-year horizon. Adjustments can be made quickly based on real data.

As you can see, Shared Progress Bets allow product teams to look beyond short-term roadmaps and quarterly results. By exploring uncertain but high-potential opportunities, SPBs create possibilities for transformative growth and progress in harmony with customer and workforce needs. But they must be rooted in the company's overall vision and strategy. Learn more about SPB in Chapter 9, Enterprise Agility Fundamentals.

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