As the tech world grows and expands to cover almost all the fields out there, there are plenty of new job opportunities that crop up in every field. Though many think Product Manager is also a new role, it has existed in other forms for many decades now. Recently, though, this role has gained much traction as its importance has increased.
In an effort to help our readers better understand their job options, HiCounselor likes to put together short articles on various roles. Read on to understand the Product Manager job description and some FAQs. If you need help getting started with your career, contact us to find out what we can do for you.
What is Product Management?
A product manager sits at the cross-section of a business and its clients. It’s their role to understand what a customer needs and relate it with the company’s business objectives. Product management involves deciding what a product/service has to fulfill, deciding what successful completion looks like, and then working with different teams to turn that into a reality. A successful project should end in satisfied customers and a profitable move for the company.
What are the Responsibilities of a Product Manager?
While the specifics will differ according to the level of the employee and the size of the company, product managers do have some common goals across the board. Two of the first responsibilities are thoroughly understanding what users want and monitoring the market and competitors. They also have to define a vision of the product.
A product manager must then prioritize some capabilities and features that they believe the product should have. Finally, they have to work with different teams to ensure everyone understands their roles and meets their deadlines to release the product. In a large company, they might be working with several teams and stakeholders. At a smaller firm, they might have a smaller team but more say over the product details.
Are Product Manager and Product Owner the same?
While these two roles sound pretty alike, there are some nuances of the jobs that make them different. A product manager job description will involve working with external stakeholders, defining the product vision, defining a successful outcome, owning marketing & ROI, and working at a conceptual level.
A product owner is similar but their role involves working with internal stakeholders, executing the product vision across teams, outlining the action plan, owning teams backlogs and fulfillment work, and being a part of the daily activities. That said, there’s plenty of fluidity in these roles, and one might be called upon to take on the other’s responsibilities if the need arises.
What are some of the Best Practices of Product Managers?
Each professional will have their own style of working which they’ll develop as they grow in their careers. However, if you’re an entry-level product manager, there are some practices you can follow to ensure you are successful. First, get good at prioritizing. As a product manager, you’ll have a limited amount of resources to fulfill your vision. You have to know where to put in the effort, which user needs are more important, etc.
Second, build trust between yourself and your teams. Even if you’re a highly competent person, you’ll need to rely on others’ expert knowledge. You should take the time to make your team members feel confident and capable. Creating a team player attitude in others will go a long way in helping you attain success.
Third, build from the basics. Sometimes a product manager is made part of a project when it’s already underway. Don’t make assumptions or guesses. Get to know your project from the base, even if it means you’ll spend some extra time catching up. Ask questions, understand the business model, explore the history of the product, etc.
Lastly, all product managers will benefit from being thick-skinned. That’s not to say you shouldn’t care what others think of you. Instead, when you’re the one that makes the final call on a product, some people will disagree, not only with your decision but also with your reasons for it. Don’t get bent out of shape over disagreements. Take them in stride and keep your focus on your vision.
The best product managers out there are visionaries, risk takers and forward thinkers. This is what makes their end products more successful! We hope this article helped you understand the job description of a product manager. If you want to get started in this field but are having trouble getting your foot in the door, contact HiCounselor and one of our friendly mentors will be glad to help you out!
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