The problem we're solving
One to two sentences: whose problem, what pain, and why it matters now. This is not your product description — it's the market condition that makes your work necessary. If you can't write this in two sentences, the problem isn't specific enough.
Our strategic bet
The one big bet the strategy is built on. 'We bet that [assumption about market or behavior] which means [what we'll build or prioritize].' A strategy without a bet is just a to-do list. Write the bet explicitly so the team knows what would prove it wrong.
Top three priorities
The three things that get the most resources, attention, and leadership time this period. In order. Not four. Not five. Three. Everything else is context, not priority.
What we won't do
At least two explicit non-priorities. 'We will not build X this quarter' is as strategic as 'we will build Y.' The team needs to know what's off the table — otherwise every request is debatable.
Success looks like
Two to three metrics that define success for this period. Specific, time-bound, honest. If you hit these numbers, the strategy worked. If you miss them, the strategy needs revision — not reinterpretation.