Any organization with a heavy focus on products and core value propositions gains a lot from hiring a VP of Product. The VP of Product can help it produce a holistic product strategy and make sure that it is executed throughout the development cycle.
While a VP of Product is valuable, hiring your first will require money. That said, it may be a good idea to wait for your team to grow. When you’re ready to become a hypergrowth organization, that’s when you’ll need a VP of Product.