Lead on Purpose

Promoting Leadership Principles in Product Management

The power of the right product (or service)

2 Comments

What is the most important role in a company? That question has been debated endlessly, and as the idiom goes, the “jury is still out.”

If you think about this question not from the perspective of the role, but from the perspective of the outcome, you start to shape opinions that at least get you closer to the answer. Successful companies sell the right products and/or services to their markets. Think about how having the right product (or service) affects every part of your business:

  • Sales: The sales team has no problem convincing prospective customers to buy. When prospects learn about the benefits they will buy right away. The sales team’s job is straight forward.
  • Marketing: Getting the message out about your company’s offerings is easy because the products meet the needs of the target market. The marketing team does not have to worry about perfuming the pig and can concentrate messaging greatness.
  • Accounting: The CFO’s job is easy; he or she can focus on investing for the future and not have to worry about making the quarter or how many employees to lay off.
  • HR: Hiring great people is easy because of the reputation of the company.
  • Engineering: The architects and developers love coming to work every day. They continue to release high-quality products and love every minute of it.
  • CEO: The happiest person in the company is the CEO. He or she understands the value that comes with the power of the right product (or service).
  • etc.: Every function in the company runs smoothly.
Which role is responsible for the right product? It varies from one company to another, and depends on the size of the company and the type of business. In today’s technology-rich companies the role of getting the right products (and yes, services) falls to Product Management.

If you don’t have product managers in your company, get them. If you have them, treat them well. If you are an executive, put your best leaders on the product management team, build it out, empower the people on the team to do great things. You will benefit every other part of your organization by putting your money and your confidence behind the product management team.

The Product Management Perspective: Product managers, do you agree with my take on the importance of your role? Does your management understand the value you can bring? If they do…excellent! Keep moving forward. If not, send them a link to this post and start educating them about the power of the right products and services.

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2 thoughts on “The power of the right product (or service)

  1. I completely agree with that statement. :-)

    However, and I know you agree, it takes a team effort to get a product out the door and if the product management team takes on too much responsibility (because they believe they are the most important role) they will quickly find they not the most important role.

    Product Management is such a leadership type role and requires precise balance – tilted either way and they become a barrier to success.

    Stewart

  2. Stewart, I absolutely do agree. The team effort and unity are what really count in getting the right products out the door on time. The leadership role of product management is the key, balance is the fuel.

    Thanks for the comment. -Michael

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