product management recruiters Archives

How Should Product Teams Manage Their Ideas?

January 26, 2023 by Dane Palarino

Customer insights can influence a product’s success. But how can you start gathering, evaluating, and interpreting that data when there are mountains of incoming product feedback to understand Product Market Fit? You probably have a plan for collecting product input, but it’s not producing product choices that significantly affect consumer satisfaction. We particularly wish to support product teams in their decision-making. Yes, that begins with gathering and arranging thoughts to improve products. You must go deeper into product feedback to determine what your customers need. This post will discuss how feedback works, why it is essential to gather feedback, and how to manage these ideas.

How Does Product Feedback Work?

Product feedback is feedback on your product that is shared by anyone who uses it, both positively and negatively. Numerous methods exist to gather this input, including online customer evaluations, in-app surveys, interviews, customer support tickets, and more. Solicited product feedback helps product teams focus on the improvements that need to be made and is frequently targeted at a specific area, such as a new feature, a product launch, upgrades, etc.

Why Is It Important to Gather Product Feedback?

Before or after a product launch, while a customer is using the product, product feedback is said to aid with product development. It aids product improvement over time and might concentrate on product aspects or the overall product experience. It would be best if you based every decision you make about your products on the demands of your clients, and gathering product feedback can help you do so.

In the present situation, solutions typically fall into one of two categories:

Adapting current solutions: Ad hoc solutions produced with your digital workspace’s current technologies make up the first camp. It’s one of the disorganized spreadsheets of concepts that someone who your organization no longer employs created years ago. It’s living in other forms—someplace on their PC. It is the first time anyone knows which one is the most recent.

Alternately, customers and internal stakeholders share a Google form. Anytime, anyone can submit a design for something they want you to construct. It’s lovely if you like your ideas repository to be explosive, violent, and utterly uncontrollable if you get trapped in its lava flow.

Customized solutions: Many platforms collect and manage ideas from teams and several product management platforms venues, whereas some offer a feature of request inbox visible to customers only. Others have developed tool integrations that enable product teams to get ideas from stakeholders’ places of residence and employment.

Any of these approaches may be a workable technique to compile and arrange product ideas with adequate effort and upkeep. However, these methods can also promote a feature-factory approach to product management if you need to be more careful. An issue cannot be resolved by an idea alone. Collecting feedback is not necessarily the most challenging task, and it defines the chances or topics the input is meant to address. Put yourself in your customer’s shoes. Isn’t it the best idea?

We have got more ways to decide over things :

Get quick insights: You can determine what your clients need and what they like and dislike about your items by routinely gathering feedback on them. Advanced AI methods, such as sentiment analysis, can be a wonderful place to start when trying to figure out what your consumers like or dislike about a product or service. These methods also provide detailed insights that are frequently overlooked by manual analysis.
Let clients know you’re paying attention: Closing the product feedback loop once modifications have been made and customer feedback has been gathered is crucial. It shows customers that you value their opinions while motivating them to spread the word about your company.
Be more aggressive than your rivals: You may immediately address your consumers’ requirements and gain an advantage by gathering and studying client feedback on your products. However, you may gather client input about your rivals from open sources like social media platforms, internet review sites, and more. Doing this allows you to spot product gaps in your competitors’ lineups and take advantage of them.
Attract new clients: Not only can gathering client feedback helps you improve your goods, but it will also boost customer satisfaction, increase customer acquisition, reduce customer turnover, and eventually increase revenue.

Of course, not all ideas are created equally, and concepts support (or refute) more significant opportunities to improve the product. Separating the idea from the opportunity is necessary for an idea management solution to be effective for product teams. Ideas frequently exist in the solution space by themselves. For example, they can recommend a feature to add. But ideas gathered in large numbers will identify common issues that merit tackling. There will be trends, and these are the chances you have. The onus is then on you, the product manager, to create a solution that aids your company in achieving the intended result.

Take Away!

Now that you know why it is important to take feedback and what the approach must be. The above points also guide you with efficient feedback from clients. During its quarterly or annual planning meetings, one must consider the company’s aims and objectives. The possibilities for the product organization structure can then be created using the goals and objectives. The product manager must create strategies to reduce the time spent gathering, compiling, and comprehending client feedback. With feedback, product managers can help the firm make better product selections and reduce the possibility of being out of harmony with the company’s vision or wasting time on the wrong things.

Unfortunately, many businesses still view it as a crowdsourced method of creating a strategy. Palarino Partners can help your company recruit the right product managers. You’ll undoubtedly come up with some brilliant ideas, but if you don’t connect them to your product strategy, you’ll be squandering time and flying blind.

Product-Based Organizational Structure — The Most Effective Approach

January 16, 2023 by Dane Palarino

Every year, organizational structures and business models remain a hot topic of discussion, with renewed focus and emphasis on how organizations are structured.

The new year is right around the corner, and with it comes several changes, including working together as cohesive teams, robust project management tools, and more agility.

While several proposed organizational models and team structures exist, what if the simplest and most effective way to organize and structure an organization has yet to be discovered?

This article explores product-based organizational models and why they are more effective than any other approach. First, let’s take a look at the benefits of product organization structure!

Product-based Organizational Structure Benefits

1. Greater Visibility of the Total Organization Through a Single Product Lens

Product-based organizational structures provide a more holistic, clear, and accurate view of the organization and its product portfolio. This can help ensure that goals, objectives, and partnerships are aligned to support the overall business strategy by offering greater visibility across the enterprise.

The organization can work with one product at a time, which allows for a more simplified product-to-market approach and can help ensure that the organization is fully delivering on its promise. Organizations must know the product manager interview questions!

2. Improved Communication Across the Organization

Focus is more clearly defined around each product as each product will be viewed through a single lens. While stakeholders may view this as an improvement in visibility, there may be negative impacts on communication across the organization.

Increased transparency is associated with increased risk, and the organization may be overwhelmed with information.

Product-based organizational structures can improve communication, but communication within and across product lines will significantly benefit companies when implementing a product-based organizational structure.

3. Improved Productivity through Better Communication

Product-based organizational structures also provide greater visibility of potential improvements to the organization. This allows for better communication between teams and stakeholders as they can identify areas where they are not fulfilling their respective goals or objectives.

The structure works hand-in-hand with corporate objectives and can help improve productivity due to the organization’s ability to identify inefficiencies more easily and align resources with goals.

4. Improved Management and Leadership

Leaders with clear visibility of the organization will be able to manage it more effectively. Leadership is simplified in a product-based organizational structure, as each product is handled through a single lens.

5. More flexibility:

A product manager is on a product team in charge of a product with a single customer. One can address the requirements of different product bases by creating cross-functional teams who report to the product manager. One can think about it as how a small company operates. Any team is relatively small, and all work together to achieve the common goal: survival (or fulfilling the customer’s demand).

6. Products to market faster:

One example of this is when Dell launches a new laptop. The marketing team, the design team, and the manufacturing team all need to work together.

Now with one product manager on one product, the entire marketing department has to continue to market that product for months before it launches. With a product-based organizational structure, communication can be done early on and will have less overhead as a single person handles each product. Marketing for one product can be done at once, making it a faster time to market.

Is Product Organization Right For Your Business?

A product-based organization architecture makes it easy to work with multiple products because each product has a team that can focus on specific goals. This structure is great for companies with various related products, such as fashion brands with different clothing and shoe styles.

When multiple products are within the same industry, having a product-based organization model will help ensure the products from one company align with those from another.

Product-based organizations successfully create organizational structures that are easy to manage and can be easily transferred to other business operations.

Product-based organization structures are simple but effective, as they eliminate the need for each product team to overlap in terms of purpose and strategy. Product-based organizational models will allow companies to better align their products with their customers’ needs and strategies, providing a simpler way for businesses to market and purchase products.

For example, if a company has two different software products, having two separate teams for each product will make it easier for the organization to create cohesive strategies and marketing plans for each product. This helps companies a great deal as they strive to balance the needs of their customers with those of their internal teams.

While there are many different organizational structures in business today, few are as simple and effective as the product-based structure.

Wrapping up!

The organization can work with one product at a time, which allows for a more simplified product-to-market approach and can help ensure that the organization is fully delivering on its promise. Communication is improved as the focus is more clearly defined around each product, as each product will be viewed through a single lens.

Types Of Product Managers Who Are High In Demand

December 26, 2022 by Dane Palarino

Are you planning to be a product manager? If yes, you should be aware of the many categories of product managers. You can determine the specifics with the aid of this guide by a professional product management consulting firm.

You will understand what a product manager is, the various kinds of product managers, their tasks, how they affect any firm, seniority levels, and other crucial information at the end of this guide.

What is a Product Manager? A product manager controls how a business or organization develops its goods. Additionally, they develop and manage the plans for both physical and digital items.

Primary Roles

They participate in the design and development of the features and functions of a good or service. They also significantly impact introducing of new features, products, and services.

Product managers collaborate with other team members, such as product designers, data scientists, engineers, and others, to carry out their duties in any firm. They are in charge of ensuring the success of each product offered in their managerial capacity.

Some of the tasks you’ll carry out if you decide to pursue a profession in product management include the ones listed below:

Determine the research needed to gather market data and understand client demands.
Review the product’s specifications and features to identify improvements.
Describe current product offers and provide information for marketing communications.
Introduce fresh goods to the market
Establish price
Create time-based strategies. Collaborating with several divisions, including production, advertising, marketing, and sales
Participate in the team effort to fulfill the company’s objective, vision, and goals.

Let us check out the five categories of PMs in this article’s post-pandemic work market.

1. Generalist Product Manager

The most prevalent position on the job market is that of a generalist PM.The generalist PM reviews and creates an equilibrium between market acceptance, delivery, and discovery. They must therefore possess a broad base of stakeholders to cultivate and be well-rounded across various fields. The people with the following backgrounds fit best in this position:

Business analysts,
marketers,
project managers,
customer success coordinators,
salespeople,
designers,
engineers, and product owners

An excellent generalist PM should be well-balanced in all areas with a focus on product strategy and discovery.

Challenges that the Generalist PM typically faces include:

Given the restricted scope, a generalist PM will require continuous communication to keep track of the more comprehensive picture with other PMs.
A junior PM could quickly get overburdened by taking on too much, given their ability to dedicate themselves to numerous areas.
Corporate restructuring or a change in the company’s strategy may also change the generalist PM role.

Glassdoor estimates that the average income is roughly USD 138,000, which is quite reasonable. (Note that your country’s actual payment may vary since this is a US rate.)

2. Product Manager for New Ventures

Owning the development and introduction of a new product is the New Venture Product Manager. They are the closest thing to a “mini-CEO,” which involves a lot of shaping the company’s direction and influencing many stakeholders.

Product managers for new ventures are experts at identifying new goods and have a firm grasp of product strategy and influence. They conduct extensive market and customer research daily while presenting a product plan.

The people with the following backgrounds fit best in this position:

Entrepreneurs, general managers, former agencies, and freelancers

This kind of product manager is the most challenging due to the unknowns involved in creating a new product. The New Venture PM flourishes amid novelty and ambiguity before adapting to shocks (or firefighting, if needed). Vital product discovery and strategy skills are required, with managing external clients receiving less of their attention (until the product is in the market).

Challenges the New Venture PM typically faces include: If you’re not careful, the role could be unclear and lack direction. PMs for new ventures must be realistic about providing additional value, and this strategy may seem counterintuitive for businesses that wish to conduct significant launches. Substantial obstacles facing this PM include:

Managing a variety of stakeholder perspectives and ideas on novel endeavors that are unknown to everyone.

Exerting considerable influence. The New Venture PM is a natural at convincing people.

Taking customers on the journey and juggling various responsibilities to get the product to market.

Average Pay: According to Glassdoor, the average income is almost USD 138,000, comparable to the Generalist PM.

3. Product Manager for Platform

As the position title suggests, platform PMs work on platform innovations that benefit internal and external clients, i.e., while making high-impact product decisions, they should concentrate on the Platform’s size, cost-effectiveness, security, and dependability when making high-impact product decisions. No matter what happens in the future, this role will always be in demand because of its importance.

The people with the following backgrounds fit best in this position:

Business analysts with a technical background in software.

Challenges typically faced by PM for platform:

Platform PMs frequently need a high level of technical knowledge. They need to understand technological architectures, code bases, integrations, databases, and engineering techniques, but they can be something other than strong coders.

If priorities are not managed skillfully, the Platform may become a bottleneck for some Product Teams.

Average Pay: According to Glassdoor, the average income for this position is slightly higher at USD 140,000 due to the niche nature of the job.

4. Product Manager with Domain Knowledge

The domain knowledge product manager requires deep domain expertise in one field, such as artificial intelligence, payments, e-commerce, mobile apps, etc.

They command attention for their subject area because they are the subject matter expert in it.

The PM spends a lot of effort training stakeholders, dispelling internal myths, and breaking down complex features into specific milestones. Additionally, they participate in practically all phases of the product life cycle.

The people with the following backgrounds fit best in this position:

Generalist PM, business owners, researchers, software engineers, designers, customer success, marketers, and salespeople.

Challenges typically faced by the domain knowledge PM:

The Domain Knowledge PM is a high-pressure position since it has the potential to be the only factor in success or failure. The difficulties this role may occasionally face are as follows:

Lots of internal stakeholder education to comprehend your domain

Finding designers and engineers aware of the context takes time and effort.

A tonne of documentation is needed to share your expertise with the rest of the organization.

Average pay: The average salary can change depending on the firm’s policy. It starts at USD 138,000 and goes up to USD 180,000, according to Glassdoor.

5. Product Manager for Growth

The Growth-Focused Product Manager has the most significant direct commercial influence compared to other roles. A growth product manager (PM) collaborates closely with the growth team and other PMs to create growth flywheels that drive product acquisition, activation, retention, revenue, and referrals.

PMs who are growth-oriented have a broad range of responsibilities. They must work with various products and address issues across multiple domain contexts. It’s ideal for business-minded individuals who can handle high uncertainty.

The people with the following backgrounds fit best in this position:

Ex-Businessmen, growth hackers, marketing and salespeople, consultants, general managers, engineers, and user experience designers

Challenges the Growth PM typically faces include: As growth occurs across all domains, the lines between them are frequently blurred, and initiatives with other teams overlap. As a result, discussions about domain boundaries often come up with other PMs. Some significant difficulties include the following:

Because of the frequent blurring of domain boundaries, discussions are needed to maintain feature ownership. In small and medium-sized businesses, the job may need to be clarified.

The duties can vary depending on the company because this is a new role.

Average Pay: According to Glassdoor, the average income for PM roles is about USD 139,000, comparable to other PM roles.

The estimated salary ranges shown here are approximations only. Depending on your level of experience and competence, specific organizations can provide a higher annual wage rate. Your chances of receiving a more substantial offer increase as you bring more to the table. Knowing about the FAQ of Product Manager Interview Questions can be a great tool while appearing for an interview.

Step-By-Step Guide To Write A Top Product Manager Resume

September 6, 2022 by Dane Palarino

Want to be a product manager? Product managers oversee the development of a company’s product or service. They must be able to offer insight into how their work will best serve prospects and customers to motivate them.

Product managers have a wide range of responsibilities, which is why they can do just about anything and still succeed, from product management at a tech company to marketing director at an online retail store. To get your foot in the door as a new product manager in the best product management organizations, however, you need one essential tool: your resume.

Building the ultimate product manager resume is a skill that will take some time to perfect. However, if you follow the tips highlighted in this article, you’ll be well on your way!

Tailor Your Resume for Each Position

Make sure that you customize your resume for each position you apply for. Yes, it will take time, but if you send out a generic resume, it’s not likely to set you apart from the other candidates who have sent in their resumes.

Use a Catchy and Relevant Headline.

The first line of your resume is critical because this is where the hiring manager will be able to determine whether or not they want to read on. Make sure that your headline catches their eye and presents something intriguing. Your headline should be personalized and crafted to emphasize your skills and qualifications.

Research The Company And Job Description

When writing your resume, know the company requirements and the job description. This will allow you to understand what is essential for this particular role. Also, be prepared and check online for topgrading interview questions and answers.

Be Concise

Focus on what you know and what you can apply to the job. Don’t go overboard with unnecessary details, especially if it is a standard or vague position. Stick to the number of pages the company requires and focus on things unique to your experience.

Highlight Your Problem-Solving Expertise

Product managers handle issues arising from developing their products or services. This means that their primary focus is on fixing problems and turning a negative situation into a positive one. You can communicate this knowledge in your resume. Just make sure you showcase it to highlight your abilities and experience.

Make Sure That Your Resume Is Easy To Read and Understand

An effective product manager’s resume will include an opening statement followed by a work history section, which should follow chronological order. This is a suitable format for those who want to make a solid first impression.

Make Sure Your Work History Section Consists of The Basics.

Start with your major organization, like its name, location, and description. Then move on to the dates for your job titles and positions. From there, explain what you did at each position. Keep in mind that professions are covered from most recent to least recent.

So if you worked at five different organizations, start with the most recent one and continue with the second-to-latest position, followed by the fifth most recent one. This will give the recruiter a clear picture of what you’ve done in your career.

Keep The Focus on Results and Outcomes

Product managers are in charge of the people they manage. This means that they must be able to lead them towards higher productivity and a stronger work ethic. Ensure to include information about your leadership skills and how you can encourage team members to do their best work.

Showcase Your Technical Expertise

Technical skills have an essential role to play in product management, as well. There are many seemingly mundane aspects to software development, such as how the design process comes together, the steps involved during implementation, fixing bugs, and testing new applications. Make sure you include all of these technical abilities in your resume.

Look Ahead and Make a Plan

As a new product manager, you’ll want to aim toward one of two things: promotion or acquisition. Your career is essentially a sprint towards one of these two goals.

You must ensure maximum efficiency while working to achieve these goals. So make sure you plan your next few months accordingly when creating your product manager resume.

Understand the value you provide

Product managers don’t work in a vacuum. They work with people. So when it comes to writing your resume, you’ll want to include some examples of how you were able to motivate and support others during a project or event that had an overall positive outcome.

Design a Resume That Captivates Hiring Managers

Your resume must catch the hiring manager’s attention if you’re looking for a new product role. However, unless this happens, you won’t be able to get the job. So when crafting your resume, take a step back and look at how you can make it more appealing to potential employers.

Conclusion

Product managers are an essential part of any business, regardless of the industry in which it operates. They oversee the development and implementation of a company’s product or service. As such, product managers must understand what drives their prospects and customers.

By tailoring your resume for each position you apply for, highlighting your problem-solving skills, and showcasing your technical expertise, you’ll be able to prove that you have the right skills to get the job done.

Micro Habits that Every Product Manager Should Have!

July 18, 2022 by Dane Palarino

In a world where products are leaving the store shelves faster than the earth’s recovery rate, the responsibility to produce sustainable products befalls the shoulders of Product managers. A company that aspires for growth needs to shift focus on consumers and act accordingly. That’s why product management organizations need to devise better strategies to cope with the changing market trends. But is adopting newer ways as simple as talking about a weekend sale? Probably not!

Management, at times, can be a little intimidating for Product managers. And, if they do not have the right skills, the product’s success is a forgotten case. In our years of experience, we can say Product managers need to bifurcate bigger chunks from smaller ones and handle them separately. The bigger chunks would be hiring and assembling a high-performing product team, delivering tough but honest feedback, and keeping the note of deadlines. Of course, staying on track and holding 1:1 meetings are critical items on a PMs checklist– but sculpting that spectacular piece of art demands a finer chiseling work on the part of the PM to shape that product bit by bit. These small movements and detailed work make a product worthy of being at the top of the list. However, the details are often overlooked.

Product Managers– Captains of Product Ship

Having a great Product Manager proves a boon for a company as much as it is a bane if your company doesn’t have one. A good product manager would stop and listen to their team, allowing everyone to share their thoughts and opinions. One may wonder how these little conversations make any difference to product development. But, these conversations and the supportive attitude of a product manager always make miracles happen. At one point, they may ask your opinions about the product, and it wouldn’t be late when the team starts building a connection of trust with their team’s PM. In the end, we’re all humans with basic human instincts. And, when we say product management– it involves influencing your team with the right abilities and attitude, without using authority, because you don’t have any, on a funny note.

By now, you must be thinking about what micro-habits would make up a solid foundation for product managers and their teams? Here’s what the folks in product management have to say about the essential habits of PMs that can add an advantage to a product company. Keep reading!

What are the minor things that can make a Product Manager stand out in his career?

What follows is a not to miss set of habits that can up your product management game. And, yes no need for rote-learning; try to understand and apply. Whether you are a brand new product manager, a startup manager, or aspire to be in management, you may want to jot down plenty of management tactics.

Empower Your Team To Act Like The Owner

When priorities pile up, and your bosses ask for updates, it becomes hard not to push your team to act more rigorously. But at times, this act may further demotivate your team members. So, how can you make them flex their muscles instead of putting pressure on your team members? Below are a few examples :

Let your team members present their ideas if resources and time allow. Either they will learn or surprise you; it is a win-win deal.
Share your ideas with team members and allow them to bring up innovation in those ideas.
Be a part of the team and share equal responsibility for product outcomes. Do not use authority; instead, influence your team if you feel they need guidance.

Be Self-aware And Vulnerable.

One thing product managers are a victim of is suppressing their human emotions. This work persona is excellent, but your team needs more than just a tough face. Share your failures, weak points, and the downfalls you faced in your career. In addition, add how you cope with those challenges. It will motivate and encourage your team to do a better job.

Become a Trusted Thought Partner

Suppose you worked at a Startup that has now surpassed the MVP stage. The plans now need to have new features, campaign strategies, and a few sales tactics to tackle these challenges. But, try to strike a balance between old basics and new ideas. In other words, you must juggle between different sets and find an equilibrium state. In all this, you and your team need to focus on:

Keep thinking, allowing out-of-the-box ideas to kick-in
Adapt to new situations without losing your cool

Finally, Be Flexible and Updated

That’s the advice folks in product management give to our new and aspiring product managers. If you are looking for product manager interview questions to crack your interview, Palarino will help you. Check out our website for more information!

A Learning Roadmap For Product Professionals

June 21, 2022 by Dane Palarino

Like a current product roadmap, a learning roadmap identifies the precise outcomes or advantages you want to attain to become a more skilled product person and records them as learning goals. These aid in directing your learning efforts, keeping track of your progress for the topgrading interview preparation, and determining how much you’ve learned. Let’s take a look at the meaning of the product roadmap!

What Is The Definition Of A Product Roadmap?

A product roadmap is a high-level visual overview of your product offering’s vision and trajectory. A product roadmap explains why and how you’re creating something. A roadmap is a strategic document that serves as a blueprint for the product strategy.

The product roadmap contains numerous long-term objectives:

Describe the strategy and vision.
Provide a roadmap for putting the approach into action.
Bring internal stakeholders on board.
Facilitate decision-making and scenario planning by facilitating discussion of possibilities.
Assist in communication with external stakeholders, such as consumers.

What Is The Significance Of A Product Roadmap?

Product roadmaps describe how a product plan comes to fruition. They take a lot of competing goals and distill them down to the most critical ones, putting showy items on the back burner in favor of work that moves the needles matter to stakeholders. They provide motivation, inspiration, and shared ownership of the product and its triumphs. Individual contributors’ work frequently makes sense only in the context of the product roadmap. Letting skeptics know about the strategy and what the company believes it can provide help them come on board.

Because sales presentations, marketing strategies, and financials are close to the vest, product roadmaps are one of the few things practically everyone in the company. For many employees, it’s their sole window into the product and company’s future; they ensure that everyone in the firm shares knowledge of the company’s vision, goals, and objectives. Product roadmaps also prevent anarchy from the ruling, pet projects from being pushed to the back of the implementation queue, and resources from being wasted on less critical activities. They serve as a guidepost, a focal point, and a lighthouse for everyone involved in bringing the product to market.

Who’s In Charge Of The Product Roadmap?

The construction and maintenance of product roadmaps should be collaborative, but the product management team should ultimately be in charge. This approach combines cooperation with distinct ownership to bring stakeholders on board while protecting information integrity and avoiding a free-for-all environment.

The executive team should provide a comprehensive grasp of the product’s and the larger organization’s strategic objectives, which should be the starting point for product management—the primary themes for this phase of the product’s lifetime with the intended goals in mind.

Who Is Responsible For The Product Roadmap?

Product roadmaps should be created and maintained collaboratively, but the product management team or product management consultants should ultimately manage them. This strategy blends collaboration with unique ownership to bring stakeholders on board while maintaining information integrity and avoiding a free-for-all situation.

The executive team should thoroughly understand the product’s and the broader organization’s strategic goals, which should serve as the foundation for product management. With the intended objectives in mind, establish the critical themes for this part of the product’s life cycle.

How Will Your Roadmap Change As Your Product Grows?

Products naturally get more complicated as time passes. They’ll be asked to go above and above, serving new cohorts and integrating with other goods and services. Product roadmaps, like everything else, evolve. On several levels, a roadmap for a newly launched MVP differs dramatically from that of a mature product:

Horizon: Startups have a difficult time forecasting future product requirements and prospects. As a result, their roadmaps are unlikely to reach very far into the future (or if they do, it will be with a lot of asterisks). They are making Longer-term plans with more solid items. They have a firmer grasp of their clients as well as the market.
Frequency: You must “always be shipping” while you’re young and scrappy. With more maturity, more releases may be spaced out with less hurry.
Dependencies: Startups tend to rush and damage things. Mature products have a heritage to maintain and third-party integrations and regression concerns to deal with.
Aims: The goals of a startup are substantially different from those of an enterprise product. The first is just attempting to establish its viability, get traction, and expand. The latter will have more complex strategic goals and a more comprehensive range of targets.

Final Words!

One of the most important secrets to success is keeping roadmaps up to date. An out-of-date map merely confuses and sets unrealistic expectations. That is why choosing a platform that makes regular updates as quick and straightforward as feasible is critical.

Dysfunctions Of Product Management & How To Overcome Them

June 19, 2022 by Dane Palarino

You cannot deny that product teams struggle a lot to develop a great product and give excellent services to their customers. Sometimes, they feel to meet the demand of the customers. It is not that the team doesn’t have the required skills. But it’s the time when the product teams have become the victim of one or more product management dysfunctions.

Everyone in the field of product management has struggled from these dysfunctions at some point in their career. Thus, it makes it all the more important for group product manager and product managers as a whole to understand the concept of dysfunctions. Here is the list of product management dysfunctions and the ways to overcome them.

The Hamster Wheel

The hamster wheel approach requires you to run continuously. Sometimes you may not even get anywhere. Product teams focus entirely on output rather than the outcome in the hamster wheel. You can find the answer to these two questions to get the concept clearly –

Have you shipped the feature on time? (focus on output)
Have your customers got any value from the features? (focus on the outcome)

Now, what is the solution to this dysfunction? Create a product board to get an outcome-driven roadmap. Give importance to the product metrics you proposed and make the changes as needful. Measure these changes and ensure to deliver the right results. Communicate the information of the results to your team and make the needed recommendations.

The Counting House

The dysfunction of the counting house gives supreme importance to internal metrics and, surprisingly, no regard to customer success. Product teams show major interest in internal metrics like revenue growth and monthly active users. But here comes the truth: the internal metrics should not be the principal focus of Product management. Instead, you should have the strategies to follow to deliver the best value products to your customers. If you keep the customers in mind, you will surely create a good business model, and the metrics will fall into their place.

To address this dysfunction, develop a hierarchy that reflects the way your customers can think about what things you are working on. For instance – you can create a hierarchy of which jobs to be done. It will show how your work and tasks are helping the clients and users to do the different jobs. Looking at the answers of the topgrading interview preparation will also let you know some details about how to deal with the dysfunctions. So, do the needful.

The Ivory Tower

The ivory tower shows a lack of research in terms of finding out about the customers. The product teams build the notion that they know the customers better than the customers know themselves. As a result, the teams never really make an effort to know the customers, which is risky for the future of the product. It can lead to distrust between the department of product management and other departments. And when the product fails to fetch them the desired results, the product managers assume that the fault is somewhere else.

To deal with dysfunction, create an insight board. Link it to the insight and number of feedbacks of the customers. You can also form a portal on your website and collect feedback. It will clarify to the stakeholders the reasons you are prioritizing customer problems and how the solution will impact the feedback further.

The Science Lab

The science lab is the dysfunction where product teams put all their efforts into making superficial improvements to the product. But these small-scale optimizations don’t have much effect on the innovation of the product or do not add much to the customer value. Experts say that sometimes it is not the optimizations you need but the new solutions.

Create a roadmap to balancing the categories of innovation, iteration, and operation to address this dysfunction. The roadmap will help your roadmap audience to visualize the lift they can expect from multiple roadmap items. Moreover, it will help you know the capacity allocated to each category.

The Feature Factory

The feature factory is never done with building features. You always have something else to build. Product teams believe that if they add just one more innovative feature to the product, they will help retain their customers who might otherwise leave. Sometimes it tends to give positive results, but many times it doesn’t lead to the results you want.

You have to break the cycle here. Using insights to build a sustainable feedback loop can work wonders. It will help you gain feedback about the new feature that is being added to the product. Besides, you can integrate it with the analytic product.

It is crucial to sit back and develop the process to pay attention to the product development efforts you are making. It will help you create the path to successful product development.

To sum it up

It is imperative to say that many product managers have to deal with the above-mentioned dysfunctions at some point in their product management career. So, try to tackle them as suggested, and you will be good to go.

4 Practices Product Teams Can Take From Archery To Hit The Mark

April 20, 2022 by Dane Palarino

How do you get the perfect shot in archery? It requires your bow’s sight to be properly tuned and aligned when you plan to release it. You should bring back the bow to the same spot each time and release it in the same exact motion for hitting the right target. But many times, one of the above-mentioned variables is off, and you just don’t make it to the target. If you want to be the best, you have to determine the things to adjust.

This is a similar situation to the product teams. Product manager headhunters always try to hit the bull’s eye. The foremost target of product teams is to meet the unmet needs of the users.

Having said that, here we have come up with the four practices that product teams can learn from archery to hit the mark.

Target Identification

An archer always has the target in his mind. Likewise, your project should have a clearly articulated problem. Your team members should know their aim so they can think of the solution. Form an outline of the product and its details. For instance – It should include the problems associated with the product, context, and the desired results.

You can take the help of separate folders to set your goals. In this way, your stakeholders can keep an eye on them. The stakeholders can also choose to give editing access to the files only to the product owner or manager to reach the desired outcomes. Identifying the targets guide you through the product plan and gives you an idea of efficient prioritization. It helps to keep track of your progress and identify risks.

Decide Your Shot

Individuals prepare a checklist before doing anything. But do you know that preparing a mental checklist is also important? Yes, it is. Archers prepare a mental checklist before releasing every arrow to the target. In the same way, product teams can also ensure to keep important steps in mind before they actually begin to execute the plan. Some questions they can ask themselves might be – Do we have the right software or feedback mechanism to check whether we have reached our goals? Are our communication platforms and communication mechanisms intact to give correct information to the stakeholders and users?

These are just examples of questions. You can ask more and see what works best for your team.

Measure The Gap

The product release is great. But don’t just stop after releasing the product. The effective and successful product teams measure their success and how close they are to achieving their targets. Reviewing the analytics and feedback of the customers is very important to see whether they are successful in the right terms or need a few adjustments. Peter Drucker, an Australian-American management consultant, says that it is difficult to improve the things you can’t measure. And without thinking about this, your team will face a hard time knowing whether they have made a good product or just an average one.

Try Again

Sometimes, it becomes difficult to introduce improvement or immediate iteration to the product you just shipped. You may make a slight improvement. But it is always advisable to make changes to the product and give it another shot.

What More Can You Do To Hit The Mark With Your Product Teams?

Teamwork And Independence

Do you think that archery is a solo sport? If yes, you might need to think again. It could be both a solo and a team sport. Everyone experiences good and bad days. It teaches you the qualities of resilience and having realistic expectations from the solo perspective. A team, however, is bound to face failures if it functions as a group of people shooting alone and hoping to get the highest scores in archery. The best teams are those who function as a team and know about the strengths and weaknesses of each team member.

What is the difference between a good product and the great product? The difference lies in how well the teams understand the products and the values they are giving to their customers. For instance – The headhunting firms NYC select the right product managers for your organization to get you the best results in the product market. By having set targets, good techniques, analyzing the reviews and the feedback, and making changes and improvements, your organization will definitely hit its targets as planned.

Palarino Partners believe in building world-class product management teams for you. Our prime goal is to recruit the best product managers for private software companies. It helps them avoid the most costly expense – a mis-hire. It does not matter whether you have good sales or whether you are good at dealing with customers; not having a product means you don’t have a company. So, connect with us to avoid the mis-hire. Get in touch with us for more information.

Four Pillars of Product Leadership

March 31, 2022 by Dane Palarino

Many people refer to product management as the “everyday profession.” It is true to some extent. This field juggles many tasks at the same time. But you have to pass the topgrading interview to enter into this field. Sometimes you manage the “management” aspect; other times, it is the “leadership” one. And there are four pillars that form product leadership – Soft skills, Business acumen, Domain knowledge, technical skills. Let’s know how these pillars work along with each other.

The First Core Pillar Is Soft Skills

The foremost skill required in the business world is soft skills. Product Managers need to have a strong set of soft skills to get the projects done in a timely manner. You can learn and be proficient in soft skills with time. Let us explain this briefly to you –

Communicate actively with everyone ranging from developers to executives. It will make your work easier. Practice active listening and improve your writing skills. Furthermore, building solid relationships as people are the ones who build products and maintaining relationships with them is the key to success. Networking and forming cordial relationships with your peers and colleagues is the requirement of today’s time.

You also have to be good in negotiations. It doesn’t mean that you have to be rude. You frequently negotiate with your boss and customers. And you learn to negotiate in the best manner with time. Negotiations are like win-win outcomes for both parties. So, with the help of good soft skills, you can negotiate better.

Business Acumen Is Important

Successful products not only solve the needs of the customers but also reap huge profits. Therefore, product management recruiters need to have a thorough knowledge of business principles. It will make the decision-making process easy. Business acumen also includes the knowledge of product innovation strategy and processes, positioning, contract negotiation, to name a few.

A Clear Understanding Of Domain Knowledge

You must have a thorough knowledge of the industry in which you work. Out of the four pillars of product leadership, domain leadership is the only pillar that does not transfer from industry to industry. Thorough knowledge of your domain is a crucial requirement for creating a remarkable product. It is also beneficial when you think of transitioning jobs as organizations want to hire people having a wide range of experiences. It becomes quite difficult to have full knowledge of your domain. So, what are a few ways to acquire domain knowledge? Let’s find out.

Pay attention to your customers and their feedback.
Attend exhibitions and trade shows.
Read trade publications like magazines and company blogs.
Follow the industry experts.

Technical And User Experience Skills

Some people think that a Product Manager does not require technical skills; others think that having technical skills are very important. “Technical” is a broad term, and it includes the following areas –

Technology – As a Product Manager, you need to understand the way your product is made. It does not mean that you should be doing the coding. Having a deep understanding of the technologies would be enough. Advantage of a Product Manager who is technology savvy

It improves communication.
You develop a better understanding of tech trends.
You positively accept the technical challenges.

User experience – The customer of today wants the best experience while using the products. They don’t want to settle for mediocre experiences. So, provide them with a delightful product to enhance their user experience.

Product lifecycle – Product Managers should thoroughly know about the product’s life cycle starting from ideation to sales and marketing. You need to know the process of how the product is made to understand the development milestones and support your team in the right direction.

There Is More To A Product As Defined By Product Leaders.

You cannot deny the importance of the above-mentioned four pillars in terms of building successful products. But is building the product enough? Not at all. The product leadership goes beyond the actual product. You need to consider the impact of the product at a global level.

Let us explain this more clearly. A few years ago, the above-mentioned four pillars would have been enough. But not anymore. In today’s digital world of technological advancements and artificial intelligence, your products do not just exist in the physical world but also in the virtual world. You can say that it is important for Product Managers to focus on social responsibility and security.

To Sum It Up

Product leadership is not an easy profession as you have to gain a lot of knowledge in depth. It takes years of study and experience to master the four pillars of product leadership. Keep in mind to always work towards improving yourself to become the best product leader in your field.

Palarino Partners build world-class product management teams. We put our prime focus on recruiting Product Managers for private software companies. It helps them avoid their most costly expense – a mis-hire. Get in touch with us for more information.