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10 Must-Do's for Product Managers by fmr PayPal PM

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10 Must-Do's for Product Managers by fmr PayPal PM

  1. 1. www.productschool.com 10 Must-Do's for Product Managers by fmr PayPal PM
  2. 2. Join 40,000+ Product Managers on Free Resources Discover great job opportunities Job Portal prdct.school/PSJobPortalprdct.school/events-slack
  3. 3. CERTIFICATES Your Product Management Certificate Path Product Leadership Certificate™ Full Stack Product Management Certificate™ Product Management Certificate™ 20 HOURS40 HOURS40 HOURS
  4. 4. Corporate Training Level up your team’s Product Management skills
  5. 5. Srividya Sunderamurthy T O N I G H T ’ S S P E A K E R 1994 20181995 1997 2002 2013 2016 2020
  6. 6. The Product Manager is the person responsible for defining the why, when, and what of the product that the engineering team builds. This means they lead cross-functional teams from a product's conception all the way through to its launch. Product managers provide the deep product expertise needed to lead the organization and make strategic product decisions. They often analyze market and competitive conditions, laying out a product vision that is differentiated and delivers unique value based on customer demands. The role spans many activities from strategic to tactical and provides important cross-functional leadership — most notably between engineering, marketing, sales, and support teams.
  7. 7. Product Managers also have to take on a lot of skills that they are not necessarily trained on...
  8. 8. My goal for this session Review Must-dos for a product manager to thrive
  9. 9. #1 - Gather user feedback early on from end users What usually happens ● You get the initial concept validated and aligned and then you are heads-down ● Getting carried away in product execution is very common ● User stories, JIRA tickets, sprint planning is all part of the game ● Answering engg questions and reviewing mockups are essential BUT ● Keeping the users in the loop is much more critical ● Providing regular updates on where the product is at ● Discussing different facets of the product helps build trust and rapport between the PM and end users (even if it is an internal facing product)
  10. 10. #2 - A sexy product does not always click What usually happens ● Customers / end users are awed by the bells and whistles of a slick looking prototype or a MVP of the product .. it’s an easy sell only at the beginning ● They get blinded by the animation, graphics, ability to move things around, personalize etc. BUT ● Staying focused on aspects such as performance, problem solving, user efficiency and how does it integrate with the core offering is much more critical ● Answering the question whether the product solves the problem that it is designed is far more important ● If there is a alternate rudimentary version of the product it is important to know if the new product will replace the old version and if not why not ..
  11. 11. #3 - Get SME opinion to steer the product in the right direction What usually happens ● Often times PMs get into a new domain and they are brought into create features that they might not have enough context on BUT ● Build a support system of SMEs who can be the voice of validation for your product ● Do not be ashamed of showing that you do not know much of the domain .. yet.. ● Product management is a continuous process of learning and discovery ● You are not only the central point of disseminating information but also are the key to assimilating information from the right sources
  12. 12. #4 - Build the product GTM right What usually happens ● You have an idea or you have a customer who is demanding that the product needs to have certain features ● You jump right in to start the rqmnts and building the product BUT WAIT .. ● Always take the time to do an opportunity assessment first .. as described by Marty Cagan himself ● Exactly what problem will this solve? (value proposition) ● For whom do we solve that problem? (target market) ● How big is the opportunity? (market size) ● What alternatives are out there? (competitive landscape) ● Why are we best suited to pursue this? (our differentiator) ● Why now? (market window) ● How will we get this product to market? (go-to-market strategy) ● How will we measure success/make money from this product? (metrics/revenue strategy) ● What factors are critical to success? (solution requirements) ● Given the above, what’s the recommendation? (go or no-go) There are several frameworks available that help you prioritize the product or a feature ● RICE ● The MoSCoW method ● Story Mapping
  13. 13. #5 - Watch your competition What usually happens ● You have released your product and you have a few customers BUT to increase customer acquisition and adoption ● Take the time to look around and assess the competition . invest the time to do a SWOT analysis ● Know your product’s strengths & weaknesses ● Sales enablement is key, ensure that they know the product facts
  14. 14. #6 - Always metrify your product What usually happens ● You want to release the product to get the early mover advantage ● Or make the deadlines based on user expectations BUT ● Do not compromise on metrifying the product ● The more hands-on you can get with data analysis the more successful you are in showcasing how well your product is doing ● Publish KPIs & metrics - # of users/customers, #usage metrics, #of alerts generated, detection rate, System uptime, downtime etc.
  15. 15. Resources
  16. 16. www.productschool.com Part-time Product Management Training Courses and Corporate Training

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