Another key element of a successful product management organization is creating trust with your teams, the teams you work with to build your products. Creating relationships of trust sets a foundation for the work you and your teams will need to build great products.
Why is building trust so important?
We’re almost done with the first month of 2017. Most statistics I’ve read about people who set new year’s resolutions show that more than half have already given up by this point in the year (in less than one month). Hopefully you’re not one them.
One of my perennial goals is increasing learning and applying what I learn to business and life. For years, learning has been a key component of every plan.
In many ways, creating new technology based products and services has become much easier in recent years. With mobile apps, software as a service (SaaS) and other new tools, the cost of turning ideas into real products has significantly decreased. What has not changed is the significance of deeply understanding the market your product will serve.
What is the key to knowing you have a winning product?
One of the more difficult tasks for a company is launching new products and initiatives. It’s easier to focus on designing and building products than getting them successfully into the market.
Launching your new products and services is critical to the overall success of your organization. How do you launch that winning product?
Guest post by David Sturt for Lead on Purpose blog
I recently came across a story in Wired magazine about a radically new technology being developed for heating and cooling. Aside from the exciting product idea to heat and cool a person rather than a place, I was intrigued by this statement about how the idea germinated:
At a point when humans need to take a sober look at our energy use, we’re poised to use a devastating amount of it keeping our homes and offices at the right temperatures in years to come. A team of students at MIT, however, is busy working on a prototype device that could eliminate much of that demand, and they’re doing it by asking one compelling question: “Why not just heat and cool our bodies instead?” (emphasis added).
Asking the right question is one of five key skills that predict great work, as identified from a sample of 1.7 million instances of award-winning work. Continue reading
Most technology companies are comprised of people and teams that discover, define, design, develop and deliver products to the market. Their success depends largely on how well these teams work together to produce great products and services. The role of product manager has become increasingly important to the success of the products and the companies; it has become increasingly strategic.
One aspect of the role of product management that makes it both enjoyable and difficult is the fact that, in most companies, the people on whom product managers depend to successfully release products do not report to them. Product managers have to act as the catalyst to drive unity and direction on the team without having management authority over the people (from other teams) they depend on for their success. This situation requires product managers to be leaders.
The following quotes by great leaders — while not written specifically to product managers — shed a light on key elements of leadership and product management:
Customer visits: ”A desk is a dangerous place from which to view the world.” – John Le Care
Product direction: ”Great leaders are almost always great simplifiers, who can cut through argument, debate, and doubt to offer a solution everybody can understand.” – General Colin Powell
Responsibility: “A good leader is a person who takes a little more than his share of the blame and a little less than his share of the credit.” – John Maxwell
Team leadership: ”All of the great leaders have had one characteristic in common; it was the willingness to confront unequivocally the major anxiety of their people…. This, and not much else, is the essence of leadership.” – John Kenneth Galbraith
Time management: “Control is not leadership; management is not leadership; leadership is leadership. If you seek to lead, invest at least 50% of your time in leading yourself—your own purpose, ethics, principles, motivation, conduct. Invest at least 20% leading those with authority over you and 15% leading your peers.” – Dee Hock
Not all product managers will one-day lead their company in an executive roll. However, to increase the likelihood for success (with both products and careers), product managers should work diligently to become leaders in their organizations.
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The Product Management Perspective: As a product manager you have the opportunity to build great products and have a very positive influence on your overall organization. Your influence can go a long way to building a great company.
As product managers you have a significant responsibility for the success of your company. It’s easy to get bogged down in the countless tasks that are thrown your way every day. With all the meetings, floods of email, and requirements to manage, the thought of spending time on areas of strategic focus can seem overwhelming. However, with planning and a little effort you can make the difference. Start by focusing on three simple, yet powerful, keys to success:
These three practices cover the most important bases for creating successful products. You should plan time to focus on these elements on a daily and weekly basis. If you are in a leadership position in product management, take time to evaluate your team and make sure they are focusing on these key practices that will lead to product success.
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The Product Management Perspective: see above
Holding user conferences is one of the great pastimes of organizations far and wide. In the technology world, conferences have grown into huge events that attract thousands of participants and occupy massive convention centers. Hosting technology conferences has turned into an industry driven by big money and advertising. The value to individuals has diminished as the industry has commercialized. Enter BarCamp.
BarCamps sprouted up in 2005 as the unconferenceway of gathering and sharing ideas. They are open, participatory workshop-like events where the participants provide the content and attendees collaborate to learn and grow in their specific areas of interest. The BarCamp phenomenon has gone viral and spread far and wide.
Leaders in product management and product marketing have extended the BarCamp idea to ProductCamps (or PCamp). PCamps are free, collaborative un-conferences organized to help product people (product managers, product marketers, UX designers, developers, etc.) network, learn and improve their ability to create great products. The first PCamp was held in Mountain View CA in 2008 and has grown into a significant event in Silicon Valley. From Silicon Valley the PCamp wave has spread to Austin, Boston, London, Sydney and many other cities all over the world through blog posts and word of mouth. The ProductCamp growth has been incredible.
After months of planning and preparation, the Utah Product Management Association is hosting the first ever ProductCamp Utah on Saturday, September 10, 2011 in Bluffdale Utah. We invite you to register for this free event and join us for what is sure to be an insightful day of learning, networking and growth.
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The Product Management Perspective: Let’s face it, we all need to improve our product management/marketing skills. Product camps are a great way to sharpen the saw and grow your network. I strongly encourage you to seek out and participate in a ProductCamp in your area. Don’t just go there to listen, step forward and host a session. You will not regret it!
I understand that many of you may not agree with my statement (I invite you to leave a comment and make your case for a more important position). The reason I make such a bold statement is this: If the product manager succeeds, the product succeeds. If the product team succeeds, the product line(s) will make money and the company will succeed.
The key to success is product leadership. Without leadership, products churn, wring out money and waste a lot time. With leadership, ideas flow, solid products are released and sales increase. The following five practices will guide you to become an effective product leader:
Your decisions — in every aspect of the product management life-cycle — lead to product success. Make decisions, then stand behind them.
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The Product Management Perspective: Embrace your “most important” role and be the leader among your peers.
At the most basic level, a product’s success is measured by how well it sells in the market and the profit it brings to the company. A company’s success is ultimately a roll-up of all products and services selling for a profit. This seems straight forward, and yet in my experience company leaders too often lose track of this important goal. They focus on this marketing campaign or that new technology, and lose track of what’s most important. Granted, sometimes they focus too much on profit at the expense of other important directives, but that’s a topic for another post.
In most companies product managers have a lot of products and significant responsibilities. It’s easy for them to get bogged down in the countless tasks that are thrown their way every day. With all the meetings, floods of email, and requirements to manage, the thought of focusing on a product’s profitability can be illusive. It’s not impossible, however. By focusing on three simple, yet powerful, practices, product managers can channel their products toward profitability:
These three practices cover the most important bases for creating successful products. You should plan time to focus on these elements on a daily and weekly basis. If you are in a leadership position in product management, take time to evaluate your team and make sure they are focusing on these key practices that will lead to profitable products.
Lead on Purpose 