What's a good product requirements template for a web 2.0 startup? I get asked this question a lot, so here's my attempt at an answer.
I've done product management for over 10 years for small and big companies, and what I consider to be a good way to outline product requirements has evolved a lot over the years.
Back in my early Yahoo! days, product requirements (PRDs) were long and detailed docs that we handed off to engineering in a traditional Waterfall manner. Then came Scrum and we traded the PRDs for long spreadsheets (Backlogs). That was faster but lacked a bit of color. Another approach was during my time at eGroups, where I was just sitting down with my rockstar engineer du jour, telling him what I needed, he'd code and add his own magic, I'd try it, give feedback, and we'd build a great product that way. That was nice but it stops working the minute your team is bigger than 5 people.
So here's something that works well in a rapid and iterative development process, with overall product/dev teams of about 5-20 people. If you are in a big company, your team may be much bigger, but chances are the actual team working on the part of the product you're in charge of is not that big.