Product Management – Elements and Strategies

Product management is a process that encompasses the full cycle product development. Product managers are responsible for defining, planning, executing and delivering products to meet customer needs. They need to make sure the company has all the resources necessary to produce a successful product by providing input on design, marketing research and development. Product management is a multifaceted profession, requiring skills in business development, customer needs analysis and product design.

What it really means to be successful as a Product Manager?

It’s not just about delivering successfully on the next project or hitting your numbers; you have to make sure that your company has all of the resources necessary to deliver on its commitments. A good way to think about this is through what we call our “Product Management Triangle”:

Communication

  • which includes listening better than anyone else so you can understand their perspective and then being able-to articulate them back out when they tell us something important (and often difficult) about what they see happening around them and how they feel these events are affecting them

Product Design

  • which encompasses everything from working with designers to make sure they have the right visual design, colors and branding for your products as well as understanding what features are needed in order to deliver on their promise

People Management

  • This is a broad term that includes recruiting, hiring, training and managing people. Your ability to manage people can be just as important of an asset as your product skills.

This all sounds good but there’s another side of this triangle we need to talk about too; it’s called “Teamwork & Execution.” What does teamwork mean? How do I execute against my strategy? And how will you know if you succeeded or not when executing these types of tasks?

What does teamwork mean?

Teamwork is the act of working together to reach a common goal. You have to contribute as much or more than you expect to get in return. You need to understand that there will be challenges. It’s how you overcome those challenges and how well you work together that shows just how strong your team actually is.

How do I execute against my strategy?

Execution is the process of turning your strategy into action. It requires you to break a big idea down into specific, concrete steps and assign tasks to team members. Implementation needs to be clear and consistent before it has any chance of success.

And how will you know if you succeeded or not when executing these types of tasks?

You’ll know you’ve succeeded when people are saying to others, “we’re going to make this change” or “let’s do it this way.”