Introduction
We all know that Product Management is a growing space and is evolving continuously. Eventually, Product management is a dynamic and vital role within organizations, responsible for driving product strategy and success.
However, there are several misconceptions and myths surrounding product managers that can lead to misunderstandings about their role and responsibilities. In this article, we will debunk some of the common myths associated with product managers, shedding light on the realities of their work.
In this article, I am going to share about myths and misconceptions about Product Management.
Myth 1: Product Managers are "Mini-CEOs"
Reality: While product managers play a significant role in shaping product strategy, based on me, they are not "mini-CEOs." The definition of mini-CEOs varies from a scratch start-up to an enterprise organizations. Moreover, they collaborate with cross-functional teams, stakeholders, VP Products, CPO, Sponsors etc. combining their insights and expertise to make informed decisions. Product managers owrk and contributes within the framework of the organization's vision and goals, ensuring alignment between customer needs, market trends, and business objectives.
Myth 2: Product Managers Make All the Decisions
Reality: Contrary to popular belief, product managers do not make all decisions unilaterally. Successful product management is a collaborative effort involving input from various teams, including engineering, design, marketing, and sales. Product managers gather insights, conduct market research, and seek feedback from stakeholders to make informed, data-driven decisions that best serve the product and its target market.
Myth 3: Product Managers Must Be Technical Experts
Reality: While technical knowledge can be advantageous, being a technical expert is not a prerequisite for a product manager. Their primary focus is understanding customer needs, market dynamics, and business objectives. Product managers collaborate closely with technical teams but rely on their expertise to bridge the gap between technical aspects and customer requirements, rather than possessing deep technical knowledge themselves.
Myth 4: Product Managers Dictate Roadmaps
Reality: Roadmap development is a collaborative process involving input from multiple stakeholders. Product managers collect insights from customers, conduct market analysis, and collaborate with cross-functional teams to create roadmaps that align with business goals, technical feasibility, and customer needs. Roadmaps are iterative and evolve based on market feedback and changing priorities, rather than being dictated by product managers alone.
Myth 5: Product Managers Only Focus on Development:
Reality: Product managers are involved in the entire PLC (product lifecycle), from ideation to launch and beyond. While they collaborate closely with development teams, their responsibilities extend beyond development. They work with marketing teams to create go-to-market strategies, collaborate with sales teams to understand customer feedback, and engage with customer support to address product-related issues. Product managers ensure the product's success throughout its lifecycle, not just during the development phase.
Myth 6: Product Management Function is same at all Organizations
Reality: The myth that the product management function is the same across all organizations is not accurate. In reality, the role and responsibilities of product managers vary significantly based on the organization's size, industry, product type, org type and culture.
Product Type and Industry: The nature of the product being managed can greatly impact the role of product managers. For example, managing a physical product may involve considerations such as supply chain management and manufacturing, while managing a software-as-a-service (SaaS) product may require expertise in cloud technologies and subscription models. Industries such as healthcare, finance, or e-commerce may have specific regulatory or domain-related complexities that influence the product management function.
Myth 7: Product Managers Job is done after Product Go-Live
Reality: The myth that a product manager's job is done after the product goes live is not accurate. In reality, the role of a product manager extends beyond the product launch. Here's the reality behind this myth:
Product Lifecycle Management: Product managers are responsible for the entire lifecycle of a product, from conception to retirement. After the product goes live, they continue to monitor its performance, collect user feedback, and iterate on the product to improve its features and user experience. They analyze data, track key metrics, and make data-driven decisions to optimize the product's performance and address any issues or challenges that arise.
User Adoption and Engagement: Product managers are concerned with ensuring the product's adoption and engagement among users. They work closely with marketing and customer success teams to drive user adoption, promote the product, and gather insights on user behavior. They analyze user data, conduct user research, and iterate on the product to enhance its value and meet evolving customer needs.
Market Monitoring and Competitive Analysis: Product managers continually monitor the market landscape, keeping an eye on industry trends, competitive offerings, and emerging technologies. They identify opportunities for differentiation and innovation, keeping the product relevant and competitive in the market. They assess market dynamics and adjust the product strategy as needed to maintain a competitive edge.
Myth 8: Customer is always right – Product Managers build exactly what the way customer wants
Reality: The myth that the customer is always right and product managers should build exactly what the customer wants is not entirely accurate. While customer feedback and needs are crucial inputs for product managers, blindly following every customer request may not lead to the best product outcomes. Here's the reality behind this myth:
Balancing Customer Feedback: Product managers should actively gather and analyze customer feedback to understand their pain points, preferences, and requirements. However, it is essential to evaluate and prioritize these inputs within the broader context of the product vision, business goals, market trends, and technical feasibility. Not every customer request aligns with the long-term success and viability of the product.
Identifying the Unspoken Needs: Customers may not always be able to articulate their needs or may have limited visibility into what is technically feasible or what the market demands. It is the product manager's responsibility to delve deeper, identify the underlying problems, and propose effective solutions that address both stated and unstated customer needs. This requires a combination of customer empathy, market research, and a deep understanding of the product domain.
Considering the Market and Business Factors: Product managers need to balance customer needs with market dynamics and business goals. They should evaluate if a specific customer request aligns with the target market segment, potential revenue opportunities, competitive landscape, and overall product strategy. Sometimes, building exactly what an individual customer wants may not be in the best interest of the broader market or the business.
Prioritizing and Trade-offs: Product managers must make informed decisions about what features and enhancements to prioritize based on a variety of factors, including customer feedback, market trends, technical feasibility, and resource constraints. They must consider trade-offs and make choices that deliver the most value to the target market while balancing the needs of different customer segments.
User-Centered Design and Iteration: While the customer may not always be right in terms of specific feature requests, a user-centered design approach emphasizes understanding user behavior, conducting user research, and iterating the product based on user feedback. By gathering insights and observing user interactions, product managers can make data-driven decisions to create products that offer a delightful user experience and address genuine user needs.
Myth 9: Product Managers are not Individual Contributors
Reality: The myth that product managers are not individual contributors is not accurate. In reality, product managers are both individual contributors and leaders in their role. While they may not be directly involved in hands-on technical tasks, they contribute to the product's success through their own work and expertise. Here's the reality behind this myth:
Ownership and Accountability: Product managers are responsible for the overall success of the product. They take ownership of the product's strategy, roadmap, and execution. They drive initiatives, make critical decisions, and are accountable for the product's outcomes. They contribute individually by providing strategic direction, conducting market research, analyzing data, and making informed decisions that shape the product's direction.
Vision and Strategy: Product managers contribute individually by defining the product's vision and strategy. They conduct market research, identify customer needs, and analyze industry trends to shape the product's direction. They make strategic decisions that impact the product's roadmap and long-term success. Their individual contributions in strategic thinking and decision-making guide the product towards meeting market demands and achieving business objectives.
Communication and Leadership: Product managers play a leadership role in the product development process. They communicate the product's vision, roadmap, and requirements to stakeholders and cross-functional teams. They provide guidance, inspire teams, and foster collaboration. Their individual contributions in effective communication and leadership help align everyone towards a common goal and drive the product's success.
Myth 10: Product Managers listen blindly to the HIPPO people
HIPPO stands for "Highest Paid Person's Opinion", and it refers to the tendency of product managers to defer to the opinions of people with more power or authority, even if those opinions are not based on sound reasoning or evidence.
Why should not listen blindly to them - First, HIPPO people may not have the best interests of the product or the customer in mind. They may be more concerned with their own personal agenda or with meeting their own metrics. Second, HIPPO people may not have the necessary expertise or experience to make informed decisions about the product.
Reality - Instead of listening blindly to HIPPO people, product managers should gather input from a variety of stakeholders, including customers, engineers, designers, and other product managers. They should also consider the data and evidence available to them before making decisions. By doing so, product managers can make sure that they are making the best decisions for the product and the customer, not just for the HIPPO people.
You may find below some tips for product managers on how to deal with HIPPO people:
Be respectful but firm - It is important to be respectful of HIPPO people, but it is also important to be firm in your own convictions. If you believe that a HIPPO person's opinion is not in the best interests of the product, you should be able to explain why and stand your ground.
Gather data and evidence. If you are facing a disagreement with a HIPPO person, it is helpful to gather data and evidence to support your position. This will help you to make a more persuasive case.
Build relationships - It is also helpful to build relationships with HIPPO people. This will help you to understand their perspective and to build trust.
Be prepared to manage- In some cases, you may need to deal with HIPPO people. This does not mean that you have to give in to their demands, but it does mean that you may need to be willing to meet them halfway.
Conclusion:
Understanding the realities of product management is crucial for dispelling the myths surrounding this role. Product managers are not "mini-CEOs" but collaborative leaders who leverage the expertise of cross-functional teams to drive product strategy. They rely on data, market insights, and stakeholder input to make informed decisions and create roadmaps that align with customer needs and business objectives.
It's important to understand the true nature of product management to avoid falling into these common misconceptions. Product management is a multifaceted role that requires collaboration, strategic thinking, and a deep understanding of customer needs and market dynamics.
By debunking these common myths, organizations can gain a better understanding of the valuable contributions product managers make and foster a collaborative and successful product management culture within their teams.
About the Author
Anubhav Sinha is a Co-founder as well as the course developer of the Product Capability Uplift. In this role, Anubhav leads the development of the Product Academy as well as works as the product thinker of the Product Capability Uplift.
Anubhav Sinha is a product coach, a product management practitioner and technology product geek with around one and half decade of the product management and development experience that ranges widely in the B2B and B2IB product space. He is known for contributing and creating products majorly in the start-up space, helping start-ups in their early stages and contributing industry product organisations as user-experience flow optimiser. He had served industry as Principal Product Owner [co-founder], Product and Design Thinking Coach, Product Owner and Transformation Coach.
Anubhav holds a Post-Graduation in Marketing - IB and Bachelor of Engineering in Electrical and Electronics.
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