Product teams often face challenges such as defining the product vision, aligning on product strategy, balancing short-term priorities with long-term goals, and effectively gathering and analyzing customer feedback. One common challenge is "analysis paralysis", where teams get bogged down in data and fail to make decisions. Another challenge is "feature creep", where teams add too many features to a product, diluting its core value. To overcome these challenges, product teams can adopt an iterative approach and prioritize features based on customer needs, using techniques such as "lean product development" and "jobs to be done" framework. Additionally, they can establish clear decision-making processes and make sure to involve customers in the product development process, through practices such as user research, usability testing, and customer development interviews.