15 lessons as a product manager
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To my fellow products managers and aspiring products managers, I dedicate this presentation. !5 Lessons learned as a products manager and in no particular order.TRANSCRIPT
15 Lessons Learned as a Product Manager05/03/2013
Suresh Krishna Madhuvarsu > www.sureshkrishna.com> www.linkedin.com/in/sureshmadhuvarsu
Remind your self about this fundamental building block everyday
Strive towards increasing the revenues; reducing the costs and increasing the profits.
Today’s cost has to yield >2x revenues or indirect positive effect. If not, something is wrong with today’s cost.
Sunk costs are important; don’t get stuck to past mistakes.
Know a dead horse; don’t feed it;
Everyone has a perspective on what should be done
Customers may not always be right; Also, they may not always be wrong.
Understand the user and buyer relationship
Understand the engineering, sales limitations
Collect quantitative and qualitative data about the market and customers
Gather the expert intelligence from the previous experiences
Balance between the data and intuition
…not tomorrow; not yesterday Set realistic expectations to
customers Don’t push quarterly targets too hard
on to sales If you sell future, you always need to
catch up
The cost of fixing a problem tomorrow is much more expensive than today
Don’t be lazy
Everyone is watching youYour market, customer and industry
knowledge brings in energy to other teams
Be positive
Human relation is much better than Email and Phone conversation
Take time to know everyone who is connected to the product
Networking is part of the job; it is an investment
You are smart; but customer is ALSO smart
Your story has more effect than your feature
Keep the story consistent
Test the hypothesis as early as possible; Fail early
If you plan for a feature make sure someone out there is ready to use it
If there is a feature that’s not profitable, don’t be afraid to prune
You are the owner of the productEvery thing starts at you and ends at
youDon’t pass the buck
…but should not drive your productSpend enough time to understand
the moves of the competitionYOUR vision should drive your
product with an ultimate goal of building products that customers love.
… with "no biases“The glue to the cross functional
teamsConduit of the information and data
flow
Everyday is different at workDon’t get deep into the tactical
work Don’t stop with Strategic workDo enough to balance the
important and urgent tasks
…and smart peopleThere are lots of things going on and
being happy helpsBeing funny or humorous helps