7 Lessons From 7 Years in Product Management | by Stephen Butts

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PRODUCT MANAGEMENT / LESSONS LEARNED

Level up your career with these lessons learned

Product management is a challenging and rewarding field that requires a deep understanding of customers, the ability to embrace ambiguity, a data-driven approach, effective prioritization, strong communication skills, leadership, and a commitment to lifelong learning. In this article, we’ll be sharing 7 lessons learned from 7 years in product management, and providing real-life examples of how successful product managers have implemented these concepts in their work. We will also explore tips on how young product managers can advance their careers and reach the next level. Whether you are a seasoned product manager or just starting out in the field, this article will provide valuable insights and guidance on how to become a successful product leader.

Understand your customers: As a product manager, your primary responsibility is to understand the needs and wants of your target customers. This requires constant communication and feedback from your customers to ensure that your product is meeting their needs. One way to achieve this is by conducting user research, including user interviews, surveys and focus groups to gather insights on user pain points, needs, and preferences. Additionally, setting up customer feedback channels such as email, social media, and support lines can help you to stay in touch with your customers and gather real-time feedback. By truly understanding your customers, you can create a product that addresses their needs and wants, leading to increased customer satisfaction and loyalty.
Embrace ambiguity: Product management is a constantly evolving field, and it’s important to be comfortable with ambiguity and uncertainty. Be open to new ideas and be willing to pivot your strategy when necessary. This means being adaptable and flexible in your approach, and not becoming too attached to specific ideas or solutions. Additionally, it’s important to be open to feedback and be willing to consider alternative perspectives. By embracing ambiguity, you can stay agile and responsive to changes in the market and customer needs, ultimately leading to a more successful product.
Be data-driven: Use data to inform your decisions and validate your assumptions. A/B testing, user surveys, and other data-gathering techniques can provide valuable insights into how your customers are using your product and what they want from it. Additionally, tracking key performance indicators such as user engagement, retention, and conversion rates can provide valuable information on how your product is performing. By being data-driven, you can make informed decisions, prioritize effectively and identify areas for improvement in your product.
Prioritize effectively: With limited resources and time, it’s essential to prioritize effectively. Use a framework such as the Eisenhower matrix to prioritize tasks and ensure that you’re working on the most important tasks first. The Eisenhower matrix categorizes tasks into four quadrants: important and urgent, important but not urgent, urgent but not important and not important and not urgent. By using this framework, you can focus on the tasks that will have the most impact on your product and your customers. Additionally, creating and regularly reviewing a product roadmap can help to keep you on track and ensure that you are working on the most important tasks.
Communicate effectively: Product management is a cross-functional role that requires effective communication with stakeholders at all levels of the organization. Make sure to clearly communicate your vision and goals, and keep stakeholders informed of progress and changes. This includes creating and sharing detailed product requirements, regularly holding team meetings, providing status updates, and presenting your product to key stakeholders. By effectively communicating your vision and goals, you can gain buy-in and support from your team and stakeholders, leading to a more successful product.
Lead by example: As a product manager, you are a leader and a role model for your team. Lead by example by being passionate about your product, being open to feedback, and being willing to take risks. This means being an advocate for your product, being willing to make tough decisions, and being willing to take calculated risks to drive innovation and growth. Additionally, it’s important to be a good listener and to be open to feedback from your team and stakeholders. By leading by example, you can inspire and motivate your team to work together towards a common goal, ultimately leading to a more successful product.
Never stop learning: The field of product management is constantly evolving, and it’s important to stay current with new trends and best practices. Attend conferences, read industry publications, and take online courses to stay up-to-date. Additionally, staying informed about new technologies, trends, and market changes can help you to identify new opportunities for your product. By never stopping learning, you can stay competitive, and ensure that you are always bringing the best possible product to market.

“The best product managers know how to balance the needs of the customer, the company, and the team.” — Marty Cagan

As a young product manager, it is important to have a clear understanding of where you want to go in your career and what steps you need to take to get there. Here are a few tips on how to advance your career in product management:

Develop a strong understanding of your customers: As a product manager, your primary responsibility is to understand the needs and wants of your target customers. It is important to be constantly gathering feedback and insights from your customers and using that information to inform your product decisions.
Build a diverse skill set: Product management is a diverse field, and it’s important to have a diverse set of skills. This includes understanding the technical aspects of product development, understanding how to run A/B tests, being able to read and analyze data, and being able to communicate effectively with stakeholders at all levels of the organization.
Network and build relationships: Building relationships with other product managers, industry experts and thought leaders can help you to stay current with industry trends and best practices. Additionally, networking can help you to identify new opportunities for your product and for your career.
Seek out mentorship: A mentor can be a valuable resource for a young product manager. They can provide guidance and support, and help you to navigate the challenges of the role. Seek out a mentor who has experience in the areas where you want to grow and learn.
Take on additional responsibilities: Taking on additional responsibilities can help you to build your skills and experience. Look for opportunities to lead projects, take on additional responsibilities within your team, or volunteer for cross-functional projects.
Seek out opportunities for growth: Look for opportunities to learn new skills, take on additional responsibilities or work on new projects. This can help you to build your skills and experience, and position you for advancement within your organization.

By following these tips, young product managers can develop the skills, experience and knowledge needed to advance their careers and become successful product leaders.

Since I share content around product management practices with awesome people like you, I have included some affiliate links to products that I personally recommend below. If you take action (i.e. subscribe, make a purchase) after clicking one of these links, I’ll earn some ☕coffee money which I promise to drink while creating more helpful content like this 😊.

“The Art of Building Great Products” by Mayank Mittal ($0.99 on Kindle): This book provides a comprehensive guide to the entire product development process, from identifying customer needs to launching successful products. It covers key topics such as product vision, market research, requirement gathering, product design and development, testing, and launch. It provides a step-by-step approach to building great products and includes real-world examples and case studies to demonstrate the concepts.
“Inspired: How to Create Tech Products Customers Love” by Marty Cagan: This book is a must-read for any product manager, providing valuable insights on how to create products that customers love.
“Cracking the PM Interview: How to Land a Product Manager Job in Technology” by Gayle McDowell: This book provides a comprehensive guide on how to prepare for and ace a product manager interview.
“The Lean Product Playbook: How to Innovate with Minimum Viable Products and Rapid Customer Feedback” by Dan Olsen: This book provides a practical guide on how to use lean product development techniques to validate and build successful products.
Product School: This online education platform offers a range of product management courses, including a Product Manager Certificate program.
Mind the Product: This community is dedicated to product management, offering resources, events, and courses to help product managers stay current with industry trends and best practices.
Product Manager HQ: This website offers a range of resources for product managers, including articles, templates, and a podcast dedicated to product management.

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