The Unvarnished Truth About Being a Maximum Value Product Manager

One dilemma that I often encounter in my role as a consultant/ advisor to Tech product companies/ start-ups/ Tech teams within brick & mortar companies, is how to define the role of a Product Manager/ Product Owner. This fire has further been fueled recently by Airbnb co-founder Brian Chesky, claiming that Airbnb no longer has "classic product managers" but has shifted to a more centralized, CEO-led approach, drawing inspiration from Steve Jobs' style at Apple. This sparked debate about the future of the product management role and its potential replacement by marketing or other functions. Although Chesky later clarified his statement, suggesting Airbnb hasn't abandoned product management entirely but rather morphed it into a more "Apple-style product marketing function”, this further muddied the waters, leaving some wondering about the specific responsibilities and authority of product professionals in the new environment.

I’ve spent months chatting with co-founders who wear more hats than in a haberdashery, product heads who could spin roadmaps like fidget-spinners, and investors who sniff out bad ideas faster than a truffle hog on caffeine. And what do I discover? No two product managers are cut from the same cloth! In some companies, they're shrunk down to glorified pixel pushers, churning out designs like a hamster on a treadmill. Others treat them like fancy release managers, throwing them party poppers every time a new feature hits the shelves. Don't get me wrong, there's nothing inherently wrong with these roles, but let's be honest, they're about as exciting as watching paint dry (unless it's rainbow paint, then things get trippy).

But here's the thing: to extract maximum value from the role, a product manager should be a unicorn, not a horse. They should be the Gandalf of the product world, wielding the staff of strategy, the cloak of customer empathy, and the ring of cross-functional collaboration. I like to call this the MVPM (Maximum Value Product manager).

Alright, folks, gather around! It's time to crack the code on maximum value product manager.

Picture this: You're a product manager, juggling more responsibilities than a clown at a juggling convention. One minute you're crafting a vision so grand it makes Michelangelo jealous, the next you're wrangling developers like wrangling kittens (impossible, but infinitely entertaining). And then there's the marketing... oh, the marketing. Should you be slinging product features like a used car salesman, or whispering sweet nothings about user needs like a seductive bard?

Enter the equation of maximum value: f (Clear Accountability, Right Capabilities) = Maximum Value Product Manager.

Let us start with painting the ‘Accountability’ picture. What should be the primary accountabilities of a holistic Product Manager. Chesky, the Airbnb mastermind, throws down the gauntlet - product managers shouldn't just dream up the product, they should own it, cradle it, and launch it into profitability like a rocket fueled by user love.

1. Develop and disseminate the Product Vision, Strategy, and roadmap: The product manager is the architect of product vision, that is like a lighthouse, guiding the entire team towards a clear and inspiring destination, defining its purpose, scope and impact. Along with the light house, the product manager also needs to create the map to get there, outlining the key milestones and initiatives, which is the product strategy. And finally, the journey itself – the roadmap broken down into manageable steps and timelines. In other words, the Product backlog.
2. Oversee Product Design and Development, but not actually do designer’s job: Think of the product manager as the conductor of an orchestra. They don't play every instrument themselves, but they know how to bring together the talents of designers, developers, and other stakeholders to create a harmonious product experience. The product manager provides guidance and feedback to the design and development teams, ensuring they stay aligned with the vision and roadmap. It's like being the air traffic controller for the creative process, making sure everyone is flying at the same altitude and heading in the right direction.
3. Drive Product Marketing to reach the right audience: Here is where rubber meets the road. The Product Manager and the Product Marketing Managers roles get seamlessly combined to be the megaphone for the product, amplifying its value to the target audience. They understand the user's pain points and desires, and craft compelling messages that resonate. Think of it as being the town crier for your product, spreading the good news far and wide. They will need to work closely with the Digital and Brand Marketing teams to develop effective campaigns and channels, ensuring the right message reaches the right people at the right time. It's like being a matchmaker for your product, finding the perfect audience to fall in love with its features and benefits.
4. Own the end-to-end Product P&L: ?The product manager is ultimately responsible for the product's financial success. They track costs, revenue, and other key metrics to ensure the product is profitable and sustainable. Think of it as being the captain of the ship, navigating the financial waters to reach safe harbors. This involves making data-driven decisions about features, pricing, and resource allocation. It's like being a financial alchemist, turning user needs into gold (or at least, healthy revenue streams).

Of course, it's not all sunshine and rainbows. Owning everything can be like trying to herd cats on roller skates – exhilarating, sure, but also potentially disastrous. There's the risk of burnout, of stepping on toes like a ballerina in a mosh pit. But with the right support, the right team, and a healthy dose of self-awareness, the maximum value product manager can be a force of nature, an aspirational role of strategy and salesmanship combined. Here comes the second part of the equation – the capabilities that are absolute must haves for a MVPM.

1. The Puppeteer of Influence: No Direct Control, No Problem – As mentioned earlier, the MVPM often finds themselves orchestrating a symphony where they don't actually hold the conductor's baton. They collaborate with developers, designers, and marketers, none of whom may report directly to them. It's like convincing a cat to go for a swim – challenging, but not impossible with the right tactics of collaborative influencing.
2. Master of Communication: The Linguistic Acrobat: The MVPM needs to be a linguistic acrobat, adept at translating tech jargons into human speak. They ensure everyone is on the same 'page' – and that this page isn’t a 404 error! In this role, clear communication is more critical than ever, as they navigate the complex web of team dynamics without direct authority.
3. Visionary Yet Grounded: The Balancing Act: It is important for the MVPM to balance visionary aspirations with ground realities and ensure dreams turn into executable plans. They need to act as the glue that holds the product roadmap together, even when they can't directly dictate the pace or direction.
4. Data-Driven Decision Making: The Numbers Whisperer: A MVPM needs to be friend to numbers and metrics, using data to guide decisions and persuade teams. They wield charts and graphs like a wizard with a wand, turning skepticism into alignment. Deep analytical thinking capabilities is the bedrock of success for a MVPM.
5. The Art of Negotiation: Diplomacy at Its Finest: Negotiation is an everyday exercise for a MVPM. They need to be like diplomats seeking a peace treaty, finding common ground among teams with different agendas. Their mantra needs to be: "You can't always get what you want, but if you try sometimes, you might find, you get what you need."
6. Crisis Management: The Unofficial Therapist: MVPMs often need to be the calm in the storm, not just for projects but for people too. They need to handle crises with a mix of strategic thinking and empathetic leadership, proving that sometimes, the best leaders are those who don't have formal authority.

So, how do we unleash this inner product management beast? Well, it's all about finding the groove. In small startups, one might be juggling a million tasks, but hey, at least one gets to wear all the hats – CEO, janitor, product wizard – the possibilities are endless! Just remember, with great power comes great responsibility (and maybe a few wardrobe malfunctions).

In bigger companies, they can specialize, becoming the Yoda of user research, the Elon Musk of growth hacking, or the Marie Kondo of product strategy. Just make sure they're not building silos – remember, they're all part of the same product symphony, even if some are playing the triangle and some on the kazoo.

And the most important part? Don't be afraid to experiment! Treat the product like a sourdough starter – nurture it, feed it data, and watch it rise to glorious heights. And if something flops, don't sweat it – just dust it off, iterate like nobody's watching, and remember, even the most epic products started as wonky prototypes held together with duct tape and dreams.