During the last couple of months and countless inspiring talks with very diverse people, it is becoming more and more obvious that there a many great opportunities for your company. And some of those are around product management and its function in the corporate world. Let´s call out the most important ones:
- Good product management is the answer to your strategic challenge. If you get it right, you will manage your company in a way that it produces the right products. And if you produce the right products, then there is a much higher likelihood of success. Don´t get lost in all those IT and business discussions. Be consequent!
- Don´t make the mistake to believe all product managers are more or less the same. There are huge differences. I think I should write a separate blog post on how to assess the quality of product managers.
- Product Managers listen to customers. And executives should listen to (good) product managers. Why am I writing this? Well, because in most cases there is at least one executive who says: “believe me, I am more senior than you. And I know what needs to be done.” If this person is good at product management (aka listening to customers), then it is ok. If not, your company will get into trouble – sooner or later.
- Product management is the leading function. Why? Because it ensures that your company is building products “customers love” – enabled by IT and by business. It is the function that helps to pave the way into uncertainty and how to deal with it.
- Don´t believe product management is mere tactics. If you do it right then it becomes very strategic. Let me give you an example: changing from a static website to a data driven app (which is increasingly the case) requires not only investments in IT, but also a fundamental rethinking of business modeling. You need to anticipate future user behavior and align your company deliverables to leap frog your competition. This doesn´t happen over night and requires focus of the entire company.
So, when are you prepared to really focus on the needs of your customers? Good Product Managers can help you with that. But you have to give them the empowerment they need. And bet on the right candidates 😉