The role of a product manager might not be as well-known as other roles in an organisation, but influential product management is crucial to the success of any business. As well as studying a product management course, and becoming effective as a product manager, there are a few key factors that contribute to the essence of success in the field. The best approach is to focus on these five fundamental principles. These principles include perspective, prioritisation, persistence, presentation and passion. In this article, we will delve deep into each of these principles so you can get ahead in product management.
Why Perspective is Important
In the competitive field of business, product management holds greater significance than ever before, and to get ahead of others, you need perspective. This means being able to look at a product through many lenses, especially the lens of the consumer. Without looking into the needs of your customers or target market, you may develop a product that no one truly wants. So try to consider the product from many angles.
You can develop perspective by researching the wants and needs of the target market and thinking broadly about outside impacts. Things like trends, world events and technological changes can also impact product success. Just make sure your scope is broad and you take into account any impacts from many angles.
Why You Should Focus on Prioritisation
The entire product management process involves so many moving parts that it can quickly become overwhelming for those in the industry. Everything from product design to contacting suppliers to warehousing takes some careful thought and consideration. But one thing you can do to make the process easier is by dividing everything into smaller pieces and prioritising. This helps you focus on the biggest lever-pulling tasks of business, so you’re not wasting time on inefficient activities. This also allows teams to align and focus objectives to become as efficient as possible.
Why Persistence is Vital
As a product manager it’s your role to oversee the entire lifespan of products from start to end and hopefully enjoy a successful launch in the market. It is a challenging process and requires unwavering attention and focus. This is why persistence is our third P in the world of product management. If you want to succeed in anything, persistence is one of the defining factors, and in product management this is no different.
Because of the amount of moving parts and how long the process takes, there will undoubtedly be testing times. Setbacks, delays and obstacles are all too common and will test your determination to become successful. But through consistent effort and work on your part, it is possible to overcome any issue and succeed in the end. Those who fail often fail because they give up and are simply not determined enough to keep going.
Why You Should Focus on Presentation
n aspect that cannot be overlooked is presentation. One perfect example is how Apple presents their products. Everything from the product launch to the advertisements to the packaging of their products has excellent presentation. It’s essential to have good quality products and market fit, but it’s equally important to present them well so they are enticing to your target audiences.
What makes a good presentation is something that highlights the strength of your products in a concise manner. It also needs to grab their attention and entice them to purchase. This is largely the role of the product manager, so they ensure all these boxes are ticked. Don’t overlook this step, as it requires some careful consideration.
Don’t Forget About Passion
It can be easy to get distracted with all the other responsibilities that you need to focus on as a product manager. There are so many tasks you need to manage throughout a product’s lifecycle. But don’t forget your passion for the role in the first place. If you’re passionate about the product, it will not only shine through in your work, but it will also bring satisfaction to your work.
When you’re passionate, it also helps all the other factors that we discussed previously, and serves as motivation to push through when others give up. It is the driving force that pushes you to go beyond and constantly refine every aspect of your products. Lack of passion may stop you from creating customer loyalty and engagement, affecting success in the long run.
Conclusion
Those working in product management need to focus on many elements but if you can focus on these five, you’re certainly on your way to success. When you gain perspective, prioritise tasks, maintain perseverance, improve the presentation and have passion for what you do, it will be hard not to succeed. Aside from all these points, it thrives on effort and continuous contribution from many stakeholders. If you can keep all these aspects in order then you’re well on your way to launching great products.
