How to Be a Great Product Manager

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Content: How to Be a Great Product Manager

Product management offers a work-life balance, as you can work from anywhere in the world. Being a great product manager is a chance for you to finally earn what you are worth and deserve. The basic responsibility of a product manager is the development and growth of a product. This is to ensure that it meets the needs of a target market. 

As straightforward as it may look, the task requires a unique set of skills and roles. These skills are available for free through our coaching services. In this guide, we detailed the no-fail steps on how to be a great product manager. Even with zero experience in the field, you can continue through this guide.

What Do Most Successful Product Managers Do?

Most successful product managers once began at the entry-level. They once had zilch ideas on what product management entails. Yet, these successful product managers remain at the top tier of the industry. How? With proven success strategies! The techniques may vary among individuals, but all fall back to customer satisfaction. Better put, “Your job as a product manager is to solve the problems of your product’s users.

Business PMs measure data, create ideas, develop products, and make suitable adjustments. A solid foundation for a product is set with a clear product vision and business goals. The product roadmap should also include the needs and wants of the customers. 

Good vs. Great vs. Unsuccessful Product Managers

Basing the entire focus of a product on the blueprints can make a product manager unsuccessful at the foundational stage. Great product leaders are more attentive to the extent to which their product has solved the users’ problems. 

Misprioritised values are not always the issue, a bad product manager may lack vision. It may also be that he fails to communicate his ideas with the rest of his team. Lack of technical background to make informed decisions is also a factor here. 

Success is easily met by maintaining a strong relationship with internal &external stakeholders. This includes making data-driven decisions from veritable sources and incorporating customer feedback. 

Great product managers always prioritize good communication. The product deliverables should be clear to all, including the product designers, developers, sales teams, customers, and cross-functional team players.

Successful product managers worldwide have effective communication skills. They create order between the customers’ competing demands and the team’s deliverables, avoiding a clustered roadmap. They also outperform their competitors by confirming their creative product ideas with customer-inclusive concepts. Average product managers have different methodologies from great ones, so their results are different.

Product Management Specializations

Product management is not restricted to the business aspect only. On the product team, there are:

• Business Product Managers
• Technical Product Managers 
• Growth Product Managers and
• Design Product Managers 

Their role in the life cycle management of a product enables them to work in the public and private sectors. In the public sector, they work under Non-Governmental Organisations (NGOs). And private sectors, for companies in the finance, technological, retail, and healthcare industries. In the coming paragraphs, we will discuss the key skills and role of product manager. 

Skills You Need to Be a Great Product Manager 

1. Communication Skills

When learning how to be a great product manager, you need some key foundational skills. Strong communication skills, both written and verbal, top that list. Key stakeholders, including executives, the product development team, and customers, should know the product roadmap necessary for achieving the product visions. 

It is also possible to communicate these ideas without being clearly understood. A great product manager presents his ideas persuasively and vividly. Using these foundational skills, the PM addresses potential bottlenecks. 

2. Leadership Skills

According to Champlain College, the top qualities of a great leader are: 

• Creating an inspiring vision for a prospective goal
• Inspiring team members to engage with that vision
• Managing goal delivery in a collaborative work environment

A good leader has a vision, is inspiring, thinks strategically, and communicates effectively with his team. The PM delegates tasks to team players and allows room for continuous development. With all these in view, a great product manager isn’t any further from a good leader. 

3. Critical Big Picture Thinking

Critical thinking is not inherent or natural to humans; hence, it is developed. With clear, set goals, thinking strategically for the future becomes much easier. Big-picture thinking requires having the entire concept of a product in mind, both during decision-making and feedback incorporation. Great product leaders are logical thinkers. They are more focused on the long-term goals implied in developing a product.

4. Attention to Detail

A keen eye for detail is necessary to understand your customers and the market needs. It is also necessary to know the full capabilities of your company. Customer data from gathering and analyzing user feedback provides key customer metrics. 

Conducting user testing and knowing product deliverables are a few details you must know. Staying up-to-date on industry trends is also crucial for offering premium customer service. When you are aware of all the elements needed to make the most productive returns in the business, building trust with users becomes easier. 

5. Time Management and Organisational Skills 

Effective time management ensures that you make progress on the most important tasks. The organization aligns customer needs with growth opportunities in the market landscape. Organizational skills help you track completed milestones and set deadlines for unfinished ones. It also enables you to stay proactive on chokepoints. 

At the start, it is normal to become overwhelmed by the divergence of the products’ big picture. You would need to make a preference scale, give or take. All great product managers have a deep understanding of this, and you also need to.

How “X” Can Help You Become a Great Product Manager

Ready to go above and beyond with your career in product management? “X” is a safe space to begin. Here, you can develop all these key product management skills we outlined above for free.

You get to take the “X” assessment to track the level of success you’ve attained. Also, you will find areas where you need to make improvements. Not only that but after you’ve taken the assessment, you can also set goals for your business. So you don’t feel lost or unmotivated, Coach Marlee will be there to assist you through this journey. You would also get personalized insights on your business and revenue goals.

“X” wants to see you excel in your career. This is why we made this personal development coaching exercise free to all. Envision yourself on the same list of great Product Managers. People like John Carter, Charles Du, and Tim Herbig. Obviously, you can see you’re one step away from living the life of your dreams.

How Long Does It Take to Become a Product Manager?

Becoming a certified product manager takes between three to five years on average. This period includes the years spent on career development and relevant industry experience. Gaining product management skills is at the base level of what you would learn during your study. Work experiences and product management roles also solidify your understanding of business principles.

You would need experience in fields like software engineering, marketing, or design. A degree in business administration and technical fields sets you up for better hiring opportunities. Some enterprises prefer product managers with a computer science or engineering degree. Yet, you don’t need to know how to code to be a great product manager. To handle technical tasks, knowledge of data design and analysis (Use of Excel / SQL) would come in handy. 

While in college, you can join internship programs to learn product roadmap creation. You should also take part in project meetings or work in product teams and communities. Attending conferences, events, and meet ups on product management are pivotal. They will help expand your scope in the field. You also get to learn the differences between agile and scrum methodologies.

Agile delivers simpler versions of a product to the customer. Improvements were made to them with customer feedback. Agile product managers keep up with the changing trends in customer demand. Scrum provides a process for jobs, how to carry them out, who handles each task, and when the task will be complete. While Agile is a framework, Scrum is not. 

Certifications for Great Product Managers

There are some certifications and licenses that you can get as a product manager. Product topics and exams are very important for you to succeed in your current role as a product manager. The duration of study and cost of certification courses vary between countries. 

In the U.S., the Association of International Product Marketing and Management (AIPMM) offers certifications such as:

• Certified Product Manager (CPM)
• Agile Certified Product Manager And Product Owner, and 
• Certified Product Marketing Manager (CPMM)

The product topics under CPM are user experience design, product strategy, delivery, & marketing. The certification costs US$395, and the course duration is 15-20 hours. 

The International Certificate in Product Management (ICPM) spans 5 months. The certification costs US$1,699, offered by the Institute of Product Management. 

In New Zealand, the CPM is the most known certification available to product managers. The Professional Product Manager (PPM) certification follows behind. 

In the UK, AIPMM awards the Certified Product Management Professional (CPMP) certification. They give training on product strategy and leadership before the certification. 

In Australia, the certification is Certified Professional Product Manager (CPPM), offered by AIPMM. The certification covers product strategy and marketing.

Why You Need Both Hard and Soft Skills in Product Management

Knowing the theories about the field is not enough; practice makes a huge difference. Having the right skills can help you handle the various issues that you may face. 

When introducing a new product to a market, it is important to know how to take calculated risks. Soft skills like attention to detail and hard skills like analysis are useful here.

Hard skills include computer skills, technical skills, innovation, marketing, and analytical skills. They are as important as the soft skills. Communication, leadership, big-picture thinking, attention to detail, & time management are soft skills. Hence, for career success in product management, you should meet both skill forms.

With professional guidance and expert support, you can become an effective product manager. Personal coaching helps you to take up most product management jobs. This is by helping you improve your skills and develop your weaknesses.

Career Opportunities for the Best Product Managers in the Industry 

Digital advances and changing growth strategies account for the rise in demand of product managers. According to a review by Userguiding, “The current demand for product managers in the US has doubled within the last five years. It keeps going up as companies are turning towards product-oriented strategies.” 

The technology and SaaS industries are currently recruiting the most product managers. Given this, we can boldly say that product managers are here to stay!

Product managers are highly demanded because they are essential to organizational success. They make strategic decisions regarding product development, modifications, and management. They collaborate with other teams to decide on steps that can guarantee product success.

Trends may change over time, but one thing is for sure: Great product managers will stand the test of time. Their visions and strategies for products are flexible to align with changing customers’ needs and competition. This equals more sales, which in turn means more profit for the hiring companies.

Where Can the Most Effective Product Managers Work?

Now, you have learned how to be a great product manager. It’s only natural to have questions in mind. Where are your skills most needed? Where can you make the highest profitable gains? Stay with us to find out.

The best product managers work mainly in the technical and business industry. Also, in industries that market the best products in a field. Companies like Amazon, Facebook, Google, Uber, and Microsoft are at the top. That is under their respective fields. They hire top-performing PMs to function across all stages of the product development process.

Product management is a broad field with many disciplines. Like business strategy, software development, user experience (UX) design, marketing, and project management. Because of its broad nature, there are many entry points for experts in the field. 

Any business that develops, sells, and distributes a product can hire a product manager. These products can be software, computer-based products, pharmaceuticals, biochemicals, or consumer goods.

How Much Can Product Managers Earn?

The average annual salary for product managers ranges between US$61,000 and US$200,000, depending on their respective industries and levels of expertise. In leading technological companies, the annual salary of a tech product manager is US$116,000. In the United States, the median salary for product managers is US$127,763.

The different base salaries of product managers are as follows: 

• Associate product manager – US$71,109
• Product manager – US$102,220
• Senior product manager – US$134,917
• Director of product management – US$168,403
• VP of product management – US$178,611
• Chief product officer (CPO) – US$187,304. 

The total pay varies depending on the extra compensation.

All salaries are reported from Glassdoor as of January 2023.

FAQs

What makes a great product manager?

The qualities of a successful product manager are what makes the individual great. You need skills in communication, leadership, strategic thinking, and market knowledge for this. Subject matter expertise and research skills are also scoring points here.

What are the highest-paying product manager companies?

Google, Amazon, Microsoft, Walmart, and Uber are leading based on product managers salaries. Their annual salary payments range between US$119,000 to US$200,000 and can sometimes be beyond that.

Who are the most famous product managers?

The current leading experts in product management are John Carter, Charles Du, Tim Herbig, Chris Bolman, and Dr. Jim Anderson

What books can I read on how to be a great product manager?

• The Lean Product Playbook – Dan Olsen
• Inspired, How to Create Tech Products Customers Love – Marty Cagan
• Dare to Lead – Brené Brown 

These books give you a quick head start on product management. They contain insights shared by product leaders on how they ensured alignment and inclusivity in their teams and on other common issues.

How can I become a group product manager?

First, you need a degree in business, marketing, or any related field. Experience in sales and product management is key. You need strong leadership skills and the ability to work with cross-functional teams.

How do I become a product manager with no experience?

Obtaining an education in the field should be your first step. It is during this period that you will understand what product management entails. Get coaching programs like the ones offered here at “X”. They can help solidify your elementary background in the field. Certification courses are a plus, too, when seeking to become a product manager.

Product Management May Be the Career Path for You, Become One of the Most Impactful Product Managers on the Planet

Do you see opportunities in product management? Are you someone who can proactively lead a team or a ringleader? Are you a keen observer with great attention to product features? Do you have the ability to thoughtfully answer questions without bias? Are you adaptable to changing trends in the technological industries? Can you come up with creative product ideas? 

A career as a product manager is a good fit for you, and you should go for it. “X” can help you develop all the skills you need to succeed in this career. You are only moments away from your big win with our free personalized coaching services. Sign up for this program to delve into the brass tacks of great product management.

References

• https://www.glassdoor.com/Salaries/product-manager-salary-SRCH_KO0,15.htm
• https://online.champlain.edu/blog/top-qualities-of-a-great-leader
• https://cepr.org/voxeu/columns/strategic-thinking-children-and-adolescents-determined-underlying-network-abilities
• https://getmarlee.com/traits/big-picture-thinking
• https://theproductmanager.com/topics/product-management-experts/
• https://clickup.com/blog/product-management-certification/
• https://www.productleadership.com/programs/product-management-certificate-course-online/
• https://userguiding.com/blog/is-product-management-a-good-career/