fbpx

How to Explain Product Management (to People Who Do Not Know What Product Management Is)

If you were to introduce yourself as a product manager at a social networking event, you would quite possibly be met with a load of blank stares…

and I speak from experience. My wife quite often jumps to my rescue with “he’s in IT” which then gets approving nods.

Other than those in the know, relatively few people have heard about product management, including those in the corporate world. One reason for this is that product managers often conduct the significant work we do in product development, behind the scenes.

Of course people are aware of innovations in many products in the marketplace – when’s the new i-phone out again? – however, what they may not be aware of is how companies manage to create products that closely match what they the consumer desires to see.

So… what is a PM? Well, in essence, a PM is an anonymous superhero who crafts visual product strategies and then introduces the new product idea to market. (I hope to use this title more often – superhero sounds a deal more impressive than he’s in IT!)

They work behind the scenes to map out and achieve a viable product management plan. They customise plans based on their company’s product line and current market conditions, and they communicate their ideas on how to develop products to all key players in their organisation.

Product managers are successful at what they do because they organise and analyse all the data using a decision-making framework. One popular, and widely heard of, framework is called the SWOT analysis: S stands for the strength of their product idea; W stands for its weaknesses; O stands for opportunities in the marketplace for the product; and T stands for threats from regulators, competitors, or other industry players.

When collecting user data whilst building product strategies, product managers segment the target group of users who will benefit from the innovations made to a product. They organise surveys to collect ideas on what changes a consumer would like to see in a new or improved product. Documenting the work, the last step a product manager takes to wrap up is to create comprehensive, yet easy-to-grasp, management reports.

To clarify complex ideas, they often use visuals, such as charts and tables. Their detailed reports also include the delivery metrics of how much work the development team has done over a designated timeline.

The next time a consumer sees a new model of their favourite car, it’s because a product manager was working behind the scenes. The meticulous work of collecting, organising, and refining ideas ensured that the additional features of the new product, or the improved model of a product, matched what customers desire.

 

Read More

Hire a Product Management Consultant

Running a business has never been an easy task, and we’ll get straight to the point;

Hiring a product management consultant could be the right next move for you. The right consultant at the right time can add capacity, maturity, new processes and rigour to your product team.

Typical needs a Consultant can help solve

If you need to fine-tune your business strategy, planning, & problem-solving needs, then hiring a Product Management consultant should be on your priority list.

Consultancy services can be effective, but they can also be costly. Never hire consultants because of the name or brand and be sure to do your due diligence when selecting one. Consultants should offer information, advice, skills, strategies or techniques, as well as getting the job done.

This is particularly effective when the skill being hired for does not exist within your organisation.

Getting the timing right

I’ve had many discussions with Founders, CEO’s, CPO’s and Heads of Product all of which thought that they needed consultants, but not immediately.

Timing is everything – you may feel you don’t need additional help right away, that might actually be the best time to bring a consultant in and get ahead of the curve. In doing so, you could be avoiding future delays to projects or gaps that need to be filled reactively.

Today is definitely better than tomorrow – so don’t procrastinate!

Contract the right skill-set for your need

There are different types of Product Management consultants, varying and ranging by skill and in approach.

At Product Rocket, we only hire Product Managers at the top of their professional game who possess core values and skills in line with our own. Clients meet the consultants prior to starting an engagement, and we always endeavour to select the best-fit for your organisation. 

Why a consultant may be right for you

Our Product Management consultants will guide you through the process of understanding your market and growing your footprint.

We can certainly help to expand your product offerings into new markets. Consultants have a vast knowledge of the product development process & how your business operates.

They will help to guide you in making the right decisions & implementing best practices for growth.

Reasons for hiring consultants:

Expertise: Although your company might have the perceived internal resources or skills, hiring a product management consultant to handle some of the more complex tasks ensures product focus remains intact. It is easy to lose focus as teams/projects grow etc. hiring a consultant to assist can help to save time (and cost!) in the long run.

Idea generation: Having worked across numerous projects within different industries/sectors, consultants bring new ideas to the table and a fresh pair of eyes on your product. You will gain new insights to help your teams solve future and current problems.

Read More