Oh PM, what art thou? : Product Management 101

Hi there, everyone; welcome to this week’s post. Today, I would like to cover a question I always get asked - what does a product manager do? How did I get into product management?

I will attempt to provide the key takeaways as to what a product manager is, at least from my personal view. When the concept of a product manager was introduced to me, my then-boss said, “You are now the mini-CEOs of your product”, and he showed the team and me this image on the screen:

Essentially, this is how my approach to product management has been framed since I started. In the early days, given my background in business consulting, I was very comfortable with the business aspect of things, but the term UX was new. Little did I know the full depth and scope of the word “tech”, and these two aspects were something I learned through doing over the years. This is how I would break down the role of a PM.

PMs are the main driving force and are accountable for a product from inception, conception, launch and beyond, we have our fingers across every stage of a product lifecycle and instead of the word mini CEO, I like to say we are like the parents of a product. In more professional terms, the critical elements of a product role would be as follows:

• Vision and Strategy: Setting a clear vision for the product and defining the strategic path to achieve it. PMs ensure that every feature developed aligns with the broader business goals, creating a coherent product that delivers value.

• Roadmapping: Developing and maintaining a product roadmap is a critical task. It involves prioritizing features, planning releases, and setting milestones to guide the development team and stakeholders.

• Customer Focus: PMs are the voice of the customer within the company. They engage with users to gather feedback, identify pain points, and understand their needs, which informs the product development process.

• Cross-functional Leadership: Leading cross-functional teams is a daily reality for PMs. They work closely with engineers, designers, marketers, and sales teams to realize the product vision.

• Data-Driven Decision-Making: In the age of big data, PMs rely on data analytics to make informed decisions. They iterate on the product by analyzing user behaviour, market trends, and performance metrics to improve user satisfaction and business outcomes.

So, what skills do you need?

As a product manager, I often strive to be like Batman. The reason for this is simple - Batman's skills can benefit a product manager. For instance, Batman's keen analytical abilities allow him to deeply understand market needs and user behaviours, essential for developing solutions that solve customer pain points. Additionally, his strategic thinking is akin to the foresight needed to predict market trends and navigate complex product roadmaps. Batman's adaptability is also essential for responding quickly to changing market conditions or project requirements, ensuring the product remains relevant and competitive.

Furthermore, his superior problem-solving skills are invaluable when tackling the many challenges during product development and launch phases. Finally, Batman's leadership and teamwork skills are evident in his collaboration with allies, and these qualities are also essential for guiding cross-functional teams towards a unified goal. By embodying the skills of analysis, strategy, adaptability, problem-solving, and leadership that Batman possesses, a product manager can significantly enhance their ability to deliver innovative and successful products.

Also, Batman’s alter ego is Brue Wayne, who is a successful CEO in his own right. (please excuse my love for The Bat)

Bat references aside - a good reference point I find myself returning to is Ravi Mehta’s Product Competency Toolkit, which emphasizes 12 essential skills for product managers to enhance their effectiveness and the impact on their teams. It highlights the importance of product execution, customer insight, product strategy, and influencing people. The competencies are presented as a comprehensive framework for personal growth, team development, and improved hiring practices, especially relevant to the challenges posed by the COVID-19 pandemic. This approach aims to create peak product managers who deliver significant business outcomes through strategic execution and strong leadership. I highly recommend this as a resource for anyone new or experienced in product management.

Final Thoughts

The role of a Product Manager is dynamic and influential, offering the unique opportunity to shape the future of products and businesses. By mastering diverse skills and leveraging a deep understanding of market needs, PMs play a critical role in driving innovation and delivering value to customers and companies alike.

I have found my journey as a PM very rewarding professionally and personally, and I continue striving to be better and, in the process, help out my peers. Thank you for reading this week’s post.

To the bat-mobile!!!!