15 lessons as a product manager
DESCRIPTION
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
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15 Lessons Learned as a Product Manager05/03/2013
Suresh Krishna Madhuvarsu > www.sureshkrishna.com> www.linkedin.com/in/sureshmadhuvarsu
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Remind your self about this fundamental building block everyday
Strive towards increasing the revenues; reducing the costs and increasing the profits.
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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;
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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
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Collect quantitative and qualitative data about the market and customers
Gather the expert intelligence from the previous experiences
Balance between the data and intuition
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…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
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The cost of fixing a problem tomorrow is much more expensive than today
Don’t be lazy
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Everyone is watching youYour market, customer and industry
knowledge brings in energy to other teams
Be positive
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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
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You are smart; but customer is ALSO smart
Your story has more effect than your feature
Keep the story consistent
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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
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You are the owner of the productEvery thing starts at you and ends at
youDon’t pass the buck
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…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.
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… with "no biases“The glue to the cross functional
teamsConduit of the information and data
flow
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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
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…and smart peopleThere are lots of things going on and
being happy helpsBeing funny or humorous helps
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