Managing Your Product Management Career
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This document outlines 5 key success factors for managing a product management career: 1) Plan your career roadmap by setting goals and developing a timeline. Planning gives structure and clarity. 2) Focus on building relationships with external networks like customers and internal stakeholders. 3) Communicate by listening to others and sharing your expertise. 4) Continuously learn by changing industries, getting training in multiple disciplines, and learning new techniques. Learning helps you adapt your skills over time. 5) Deliver results by consistently applying the right strategies at the right times to be rewarded in your career.
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Managing Your Product Management Career
- 1. Managing Your Product Management Career: 5 Key Success Factors
- 2. 10 Years Ago Product Management Was Considered The ‘Accidental 2 Profession’.
- 3. The Age Of Product Management Matured as a discipline over the last 10 years Environment has changed – consumers demand great products Individuals are making conscious decisions to be a Product Manager Meetups, Camps, Conferences Greater investment in Product Management training Product Management Certification available through various organisations – AIPMM, ISPMA Staggering number of articles, blogs, books Practices more refined – focusing on understanding human behaviour Specific software tools aimed at Product Managers – Sensor Six, AHA, ProdPad to name a few 3
- 4. Heck! Product Managers Are Highly Paid Source: 2014 State of Product Management & Marketing 4 http://www.pragmaticmarketing.com/resources/annual-survey
- 5. So How Do We Grow Our Illustrious Career?
- 6. 6 Banking Market Places Finance Data Telecom-munications Medical Devices Software TV Automotive Betting Music Qualitative Data From 10 Different Industries
- 7. Learn 7 5 Product Management Career Success Factors Plan People Communicate Deliver
- 8. 1. Plan 8
- 9. Your Career Roadmap Set your goals Develop a plan Timelines Milestone Who needs to be involved 9
- 10. Benefits Of A Career Plan Career planning gives structure Gives you clarity on what to focus on Which projects/products to put your hand up for Who to build relationships with Enables you to work on weaknesses and gaps Your plan communicates to others where you want to go and how they can help you progress 10
- 11. Plan but be prepared to change (a lot) 11
- 12. 2. People 12
- 13. Who Is Your Market? 13 External Networks Customers Stakeholders Mentors / Sponsors
- 14. 3.Communicate 14
- 15. Listen
- 16. Listen Advocate
- 17. Share Your Expertise, Information, Knowledge
- 18. 4.Learn 18
- 19. 19 Don’t stop learning, no matter how senior you become
- 20. How To Keep Your Craft Sharp 20 Change Industries Read Not just about Product Management Get Training Across Multiple Disciplines Classroom environment Online learning programs Learn New Techniques The ‘what you do as a Product Manager should not change But the how will differ over time Learn The Language Of Finance Be Guided By Your Mentors
- 21. 5.Deliver 21
- 22. 22 Bridge The Knowing/Doing Gap
- 23. Consistently Pull The Right Levers At The Right Time And You Will Be Rewarded 23
- 24. Learn 24 5 Product Management Career Success Factors Plan People Communicate Deliver
- 25. Connect With Brainmates 25 Brainmates Group @Brainmates #prodmgmt Facebook.com/Brainmates www.brainmates.com.au info@brainmates.com.au + 61 2 9232 8147
Notas do Editor
- How to manage your career like a product.
- Steven Haines coined the term in his book ‘Product Manager’s Desk Reference’ in 2008
- At the start of 2014, we spoke to 16 senior product professionals – since that time, some have risen through the Product Management ranks and are no longer Product Managers – CEO, MD
- There were 5 common success factors in all my interviewees. The things that we do for our products, we should do for ourselves as well. We should treat ourselves as a product and that
- I speak to product managers on a daily basis and they are too busy managing their products and neglect planning their career. You need to manage your career like your product roadmap.
- Eg Moses Samaha, Head of Commercial Risk at Veda Be fluid
- People are at the heart of our jobs - you need to manage your customers & stakeholders to successfully plan and execute on your Product Roadmap. When it comes to your product management career, you need to manage your networks in the same way.
- Customers & Stakeholders are important to grow your product but your network & mentors are important to grow your career. Who is in your network that can help you establish your career and get to where you want to go? Jane Huxley, Pandora had 80 coffees before she found her dream job as the MD of Pandora Radio
- Communication is essential for maintaining strong relationships
- Hearing and listening are 2 different skills Takes a confident person to really listen When we develop product we listen for market signals, trends, behaviour, customer goals, business drivers – we focus on the content, we ask mental questions, we’re hopefully objective … Just like we listen to our market and our business, we also need to be listening to feedback from our peers, managers, mentors & external networks to help us shape our careers.
- Good product manager are excellent at product advocacy internally but do you get out there with your sales team to promote your product and company? Some of the interviewees shared that having sales experience was the best thing that happened to them in their product management career. Marius from Westpac, ‘In retrospect, being on the road & talking to customers, helped me hone my public speaking skills, which not only opened up sales & job opportunities when I was speaking at industry events and conferences but it gave me the skills and confidence as a product leader required when talking to senior executives’.
- Be a thought leader in your network Showcase on social media – Linkedin, Slideshare, blogs, whitepapers. Learn to present – in front of your team, executives, stakeholders, customers, at event Need to articulate what you’ve done well & share that appropriately
- Product – Good product managers listen & learn from their customers. From there, they can build and market the best products Who has learned in a structured learning environment. Based on the interviewers, even the most experienced product managers are constantly developing themselves. Career – Develop your professional skills.
- Successful Product Professionals: Can get to the crux of what customers needs are Don’t stop asking questions about their customers, products & how to carry out their craft Well educated Experienced in various stages of the Product Lifecycle Commercially savvy Have strong public speaking skills Strong Stakeholder Managers
- Product - hard to be successful in your career- need to kick some goals from a product perspective. Eg Lisa Niestroy, CBA. Ability to deliver a product successfully, manage stakeholders well meant that oppties opened up for her. Career – Bridge the knowing/doing gap.
- Knowing about Product Management isn’t enough. Unapplied ideas are simply worthless vapour. What counts is getting stuff done. Results are everything. Michael Wood, Head of Trade Finance Product, NAB says that the best thing that happened to him in his career was when his company invested in custom Brainmates training for the Working Capital Product Team. He attributes his promotion into his current role as Product Leader to the framework, which he applied with rigour to his job and the results showed. His demonstrable results lead to him being tapped on the shoulder for the role. Act on your knowledge to eliminate fear, abolish destructive thoughts, measure what matters, and get promoted.
- Successful Product Professionals: PLAN – their careers PEOPLE - Strong Stakeholder Managers COMMUNICATE Can get to the crux of what customers needs are Don’t stop asking questions about their customers, products & how to carry out their craft Have strong public speaking skills LEARN - Well educated DELIVER - Experienced in various stages of the Product Lifecycle and have launched products that have met both market & organisational goals