21 Sep Product Management: Installment 4 of 5
Welcome back! Last we spoke, we told you about qualities 4 through 6 of a successful product manager. Today, we’ll look at qualities 7 through 9.
Insight to Success #7: Be a Responsible, Objective, Organized & Timely Decision Maker
Yes, some of these are obvious, but you’d be surprised (or not, if you’ve worked in the field long enough) to find how few in the product management space actually possess these qualities. Key characteristics of a great product manager include being reliable, being on time, and having the proven ability to deliver on what you are assigned to deliver. Good metrics and solid screening tools/techniques are critical for evaluation here—during all stages of the product life cycle.
If you’re wondering how to be better organized, think of the classic journalism story-writing mantra: Who, What, When, How (OK, so we modified it slightly). Consider dividing your tasks into short, mid, and long-term goals, and reassess and re-prioritize as you go in order to meet inevitably changing needs and market developments.
Best Practices, Tools & Processes
- Decision and Problem Solving Training
- Using Objective, Meaningful & Easy-to-Understand Metrics
- Maintaining Authority Over the Decision-Making Process and Utilizing Said Authority in a Timely Manner
Insight to Success #8: Effective Communication and Political Astuteness
You know how every job posting you’ve ever read says, “Excellent communication skills required”? (OK, except maybe this one). Well, that’s especially true in the product management space. And we don’t just mean communicating in the form of talking—we also mean listening. This field evolves quickly and often, and to be a successful product manager, you have to be aware of the developments occurring around you. You also have to be able to listen to your team when there’s a problem, or when someone has a solution you never thought of.
Political astuteness is also key for understanding how to effectively lobby people, products, and projects. This asset can turn an average product manager into a product champion, and it can’t be ignored. Upper management loves this skill.
Best Practices, Tools & Processes
- Communication Training
- Public Speaking Training
- Lessons in Hiring
Insights to Success #9: Be a Prudent Risk-Taker
Prudent is the key word there. Pick your spots, and know when to stick your neck out. Experience and knowledge make a person prudent, so don’t forget that part of fulfilling this insight is the constant working and reworking it takes to learn the business and the market. You must be able to recognize and manage a certain level of risk tolerance, and know how to communicate this to your team. Identify the appropriate resources you need to minimize risk with information and analysis.
Best Practices, Tools & Processes
- Run Screening and Prioritizing Software
- Maintain Risk Management Tools
- Constantly Educate Yourself and Your Team
Thanks for reading! Check back next week for the final installment, featuring insights to success 10 through 12! And if you’re interested in learning more or need training in product management, contact Rob at rbeachy@axiomcom.com.
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