Product Management 101

What makes a good product manager and what should they do? In this post I share what learned I’ve helping clients design, build and launch all sorts of great digital products.

One of our core values at Pixie Labs is building ‘elegant solutions driven by requirements, not tools’.

Making sure the entire project team understands the 'why' is critical to the success of any new digital product. The focus throughout the design->build->launch->improve->scale process should be on creating value to the end user. The role of product manager is vital to ensure this.

When clients partner with us to deliver a project, we ask them to assign a product manager to that project. It’s a busy, hands-on role that requires an excellent understanding of their customers' needs and their business priorities. The product manager works closely with our delivery team to ensure we’re always delivering the most valuable features with the minimum amount of work required. They will also be balance competing business priorities and filtering the many requirements of your internal stakeholders and experts into a single voice to optimise project delivery. It’s an essential role.

Who makes a good product manager?

We usually assume the basics like being a good person, being honest and kind, investing in the success of others etc. There are, however, a few common characteristics that all excellent product managers have. The list below isn’t an exhaustive list, but it’s a good start:

They love asking ‘why?’. It’s not enough to know what is being built. Product managers have to understand why something is being built. It allows them to understand the value created for end users and measure how well a particular feature contributes to generating that value.

They prioritise. One product can’t be everything to everyone. That is a sure road to mediocrity. Successful products start by doing one or two things really, really well for a few people. This an excellent way to get early traction, perfect your core value proposition and build momentum. Remember, just because something can be built doesn’t mean it should be built. Think of it as the difference between 'building the thing, right' and 'building the right thing'.

People think focus means saying yes to the thing you’ve got to focus on. But that’s not what it means at all. It means saying no to the hundred other good ideas that there are – Steve Jobs

They are focussed on the customer. Without your customers, you won’t have a business. They are the lifeblood of your company, your product, your vision. Product managers look at a product through the eyes of customers to make sure they're building something they need and want.

They have market awareness. Understanding where your business fits into your market is essential for good strategic decision-making. Who are your competitors? What are they doing? A great product manager keeps a close eye on the digital landscape they operate in.

They set measurable goals and communicate them clearly. Knowing the target you’re aiming for makes achieving it a lot easier. Teams that know what success looks like work better together and are more successful. It’s also much easier to learn from mistakes if you can measure them.

The only way to win is to learn faster than anyone else – Eric Ries

They have an eye for detail. The detail matters. It’s the difference between a good customer experience and a great customer experience. Focussing on the detail also unlocks more opportunities and mitigates risks.

They are generalists. Good product managers have a mixed skillset and can empathise with a wide range of customers and stakeholders. It helps them think outside the box.

They have enough time. This is paramount. Navigating competing priorities, changing markets, and seizing new opportunities while keeping tabs on risks takes a lot of time.

What activities does a product manager do day-to-day?

Their principal objective is to ensure that the product generates value for its customers and accomplishes the business objectives, and continues to do so over time. Daily tasks may include -

• Researching competitors and trends to build an understanding of the market, competitive dynamics and opportunities.
• Engaging with your existing and future clients to understand their needs and how best to meet them.
• Reviewing and updating the product development roadmap, ensuring that it’s aligned with your customers’ needs.
• Classifying, documenting and tracking opportunities and risks based on urgency and impact.
• Managing and prioritising the product backlog — the list of features to be implemented by the delivery team.
• Attending all sprint planning and review meetings.
• Testing new features for release.
• Helping deliver products to market and communicating the value to customers.
• Providing feedback to the executive team on changing customer needs or market conditions.

Being a product manager is an incredibly exciting and rewarding role. You help set and manage the direction for product development, you engage with stakeholders at all levels and you review lots of user feedback; both the good and the bad bits. It’s also the best seat in the house to watch the product come together step by step.

We’ve worked alongside great product managers to build disruptive platforms like Tussell, a market intelligence startup, and to help launch exciting new products for FTSE 250 companies like HomeServe PLC.

Whether you’re an entrepreneur setting out with a great idea or a big player that wants to innovate to stay ahead of your competitors, get in touch to see how we can help you take your product to market quickly and reliably.