From Theory to Trenches: Navigating the Realities of Product Ownership in Corporate Waters

Last week, I wrote about the similarities between product owners and entrepreneurs. This week, I wanted to extend that theme and discuss a few misconceptions about the coveted Product Owner role. I've been a product owner and led a small product organization.?

It was fun all around, but having migrated into this role from the universe of technology consulting, I used a lot of "outside resources" to get up to speed on product management. I learned some things that were right. This is about the stuff I learned that was dead wrong.

With that said, let's peel back the curtain on the myths and realities that quickly became obvious early in my career as a product owner.

Myth: Product owners make all the decisions independently

This idea terrified me because "who would leave all these decisions up to noob?" I asked myself. Lucky for me, I quickly found out this was a bunch of crap. Many stakeholders and shareholders up and down the org chart have a stake in your product. They won't let you forget that. I promise ??

As I settled into my role, I quickly realized that being a product owner isn't about making solo decisions in a vacuum. It was more about understanding and representing all the positions and then getting alignment with fundamental business interests to move forward, not about making all the decisions.

Collaboration is key in this role. It is unlikely anyone will fight you over the location of a new feature on the interface, but everyone will fight to prioritize their prized feature in the release schedule. Write user stories until your heart is content, but if sales or ops don't get their new feature in the product soon, you may have a revolt. That's the way the world works.?

Persian: A thousand nations of the Persian empire will descend upon you. Our arrows will blot out the sun! Stelios: Then we will fight in the shade.

Myth: Product owners only focus on features

At first glance, it might seem like being a product owner is all about rolling out flashy new features. But the truth is far richer. Beyond feature development, product owners juggle a myriad of responsibilities – from strategic planning and market analysis to stakeholder engagement and roadmap prioritization. It's about striking a delicate balance between business objectives and user needs, weaving together a tapestry of value transcending mere features.

Let me restate that a bit: In the real world, removing features that users find complicated or don't align with your company's new AI strategy may be more important than building new features. You may find that your users need better API documentation than the latest ChatGPT chat feature.

As a product owner, you focus on your customer's problem set and how much it generalizes to other users/customers and their problems. You go where the problems and business objectives take you. Features be damned.

Myth: Product owners have complete control over the product

In the ever-evolving landscape of product ownership, one thing became abundantly clear: control is an illusion. Navigating organizational dynamics and competing priorities requires adaptability, empathy, and a healthy dose of humility. By embracing ambiguity and fostering open dialogue, product owners can harness the collective wisdom of their teams and steer the product toward success in an ever-changing world.

Again, this is probably derivative of the first myth, but it has to be said. Having led a team of PMs, one thing is clear to me: sometimes egos make decisions rather than the data or the voice of the customer. This is a problem.

If you add a new feature without supporting interviews (or other VOC signals) with the customer/user that supports this new path, you're doing it wrong. Product management is about risk mitigation. We validate our decisions before investing the company's resources. If you find yourself operating outside this lane, you should find a way back to the slow lane.

Conclusion:

As I reflect on my journey as a product owner, one thing is sure: separating myth from reality is essential for charting a course toward meaningful impact. By embracing collaboration, complexity, and continuous learning, product owners can unlock new realms of possibility and drive transformative change within their organizations.?

So, to all the aspiring product owners, remember this: the path may be challenging, but the rewards are immeasurable.

Have you experienced similar shifts in your journey? Have you learned 'truths' that ended up being myths? Share your insights in the comments below!