five critical strategies to succeed in your product management career
DESCRIPTION
Have you ever wondered why some Product Managers are highly successful, on the fast track and advance rapidly, while others are stuck at their current level? The answer is simple - those who succeed have a plan based on proven strategies that they employ. You can be one of these highly-successful Product Managers, but you'll need to understand how to get there. And you'll want to start immediately. To help you accelerate your success the 280 Group has spent several hundred hours conducting an in-depth research project about how to succeed in Product Management. Using data from over 30 studies and millions of dollars of research, the results of this project show precisely what YOU need to do to rise in your Product Management career. These slides from the webinar will present the findings of the research, will show you exactly what you need to do to move forward and will result in you walking away with a concrete and specific plan of action.TRANSCRIPT
© 2013-2014 280 Group LLC.
AIPMM Webinar Serieswww.aipmm.com
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Get Social With Us…
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Hashtags:#280group#AIPMM#prodmgmt#ProdBok
280 LinkedIn ProductManagement Group:32k memberswww.linkedin.com/groups/280-Group-Product-Management-Product-2193
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Stay Tuned for the Entire Webinar
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Everyone receives acopy of the book!
One person wins the entire 280Group Press series!
Must be present to win!www.aipmm.com
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Today’s Speaker
Presenter:
Brian LawleyCEO & Founder@hmdelcastillo@[email protected]+1.408.834-7518
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© 2013-2014 280 Group LLC. 6
SPECIAL REPORT:The Five Critical Strategies to SucceedinYour Product Management Career
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What you want out of this webinar
Not included today (will be in the future)- Best practices in Product Management- Increase importance of PM at your Company- How to influence engineering
TODAYS TOPIC:Product Management Career Acceleration
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© 2013-2014 280 Group LLC. 8
Poll (answer in polling box)
What’s your title?- Associate Product Manager- Product Manager- Senior Product Manager- Product Line Manager- Director of Product Management- Vice President of Product Management- Engineer- CXO
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© 2013-2014 280 Group LLC.
Researched and Produced By…
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© 2013-2014 280 Group LLC.
Why We Commissioned StudyWorked with thousands of Product Managers
No comprehensive study or data
Further profession
Help others be successful
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© 2013-2014 280 Group LLC.
About the Study>25 research studies and reports
Millions of dollars of research
Hundreds of hours
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We are pleased to share thisinformative study with you!
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© 2013-2014 280 Group LLC.
Areas CoveredAbout Brian & the 280 Group
Rise of Product Management
Five sins that cause miserable failure
Five critical strategies for massive success
Creating your own custom plan
Questions & Answers
Giveaway!
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© 2013-2014 280 Group LLC.
Brian Lawley: CEO & Founder
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Thought Leadership in ProductManagement Award
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The 280 Group: Silicon Valley Innovation
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© 2013-2014 280 Group LLC.
Mission
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We transform organizations andindividuals to perform highlyeffective Product Managementbased on our innovative and easilyadopted Optimal Product Process™framework.
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© 2013-2014 280 Group LLC.
Optimal Product Process™
>200 years experience
Any development methodology
Flexible & customizable
Strategic/Tactical
All companies
Any industry
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Approval to fundbusiness planning
Approval to funddevelopment
Product readyfor field testing
Product andorganization ready
On-goingmarketing ready
New version orretire completely
Marketing Plan End of Life PlanLaunch Plan
Beta Plan
Market Strategy Document
Roadmap Document
Product Description Document
Market Needs Document
Business Case Document
PM + Engineering (Agile, Hybrid,Waterfall)
PlanConceive QualifyRun Beta/Pilotprogram
Write launchplan
Release product,gather feedback
Write marketingplan
Discoveropportunities
Develop Launch Maximize
Validate product/market fit
Create roadmapand strategy
Solidify businessplans
Solidifydevelop plans
Write beta plan Support sales
CommunicateEOL
Retire
Plan sunsetor replacement
Performpost mortem
Deliver finaldocuments
Plan EOL andnext release
Develop preliminarydocuments
Perform postmortem
Test messagingand positioning
Finalfeature list
Run/monitormarketing
Phases andActivities
Exit Criteria
MarketingProduct
ProductManagement
EXECUTIONSTRATEGYThe OPP framework is completely customizable andflexible, making it easily adopted by any companyregardless of size, maturity, or development methodology.
Development – Agile, Hybrid,WaterfallDocumentation – None, Lightweight, FormalMaturity – Startup, Small/Medium, Enterprise
Optimal Product Process™ (OPP)
Optimal Product Process Methodology © 280 Group, 2011-2014Source: Conceive to Retire from AIPMM Product Management Body of Knowledge® (ProdBOK®)
Optimizing Product Management™
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Complete solutionsto make you a greatProduct Managerand advance yourcareer in everyphase
© 2013-2014 280 Group LLC.
One: The Rise of Product Management
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© 2013-2014 280 Group LLC.
Poll (type answer in chat box)
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How and when did ProductManagement come to be?
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Product Management is Now Mandatory
1931 1980’s and 1990’s
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Today
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© 2013-2014 280 Group LLC.Source: CBS News 2013 poll of corporate executives
Fourth MOST Important in Corporate America
1. CEO2. Senior Executives3. General Manager4. Product Manager
21© 2013-2014 280 Group LLC. www.aipmm.com
© 2013-2014 280 Group LLC. 22
Critical For Time to Market
22Source: 2009, Aegis Resources Inc.
Companies that empower productmanagers are 50% faster to market!
© 2013-2014 280 Group LLC. www.aipmm.com
© 2013-2014 280 Group LLC. 23
Executives Highly Influenced
Source: 2012 Team Performance Survey, Actuation
58% of PM’s work directly withCEO, CMO, CFO and VP Sales
23© 2013-2014 280 Group LLC. www.aipmm.com
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CEO’s Demand PM Report Directly
Source: 2012 Pragmatic Marketing Survey
30% of CEOs have Product ManagementOrganizations reporting directly to them
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PM Present in All Company Sizes
Source: Salary.com 2013 25© 2013-2014 280 Group LLC.
18%
24%
15%
18%
5%
15%
5%
Product Management By Company Size
<100
100-500
500-1k
1k-7.5k
7.5k-15k
15k-50k
50k+
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PM Present Across In All Industries
Source: Salary.com 2013 26© 2013-2014 280 Group LLC.
15%
13%12%
8%
7%
Product Management by Industry
MFG Durable
Retail & Wholesale
Software & Networking
MFG Nondurable
Healthcare
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Your Competition is Very Experienced
27Source: Salary.com 2013
67% of PM’s have >5 Years Experience© 2013-2014 280 Group LLC.
12%
21%
32%
22%
13%
Zero to One
Two to Five
Five to Ten
Ten to Fifteen
Fifteen+
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Your Competition is Well-Educated
28Source: Salary.com 2013
>50% of PM’s have Master’s Degrees
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1%
3%4%
39%52%
1%
No diploma
High School
Associate's/Certificate
Bachelor's
Master's
Doctorate
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PM Pays Well – up to $210k
Source: Salary.com 2013 29www.aipmm.com
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PM Ranked as Top Job
Source: Money Magazine 30www.aipmm.com
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PM Well-Positioned To Become Executives
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PM
Sales
Customers
Support
Channel
Operations
Executives
Partners
Engineering
Marketing
Press/Analysts
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PM to CEO
32Steve Ballmer: Microsoft
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PM to CEO
33Marissa Mayer: Google/Yahoo
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PM to CEO
34Scott Cook: Intuit
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Apple and Product Management
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Apple: Steve2
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Mike Markkula: The ORIGINAL Apple PM
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Proctor & Gamble Requires PM
Source: Gale Group
The last seven CEOs havebeen former product managers
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© 2013-2014 280 Group LLC.Source: LinkedIn 2013
Huge Opportunity – Massive Job Openings
LinkedIn Job Openings:• 4k Product Managers• 5.5k Directors• 1k Vice Presidents>10k!
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Can be a VERY Rewarding Job
Source: 280 Group Poll – 30k members 2013
66% of Product Managers motivated by “DeliveringGreat Products” and “Driving a Vision”
39© 2013-2014 280 Group LLC. www.aipmm.com
© 2013-2014 280 Group LLC.
PM Rising: What You Have Learned
• Product Management is rising
• More important than ever
• Great career path
• Huge opportunity
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What stops people from rising inProduct Management quickly?
41© 2013-2014 280 Group LLC. www.aipmm.com
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Two: 5 Deadly Sins That Will Kill Your Career
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Sin #1: No One Understands What You Do
Varies dramatically in each company
Overlap/confusion with other roles
Result: PM’s perceived value lower
43© 2013-2014 280 Group LLC. www.aipmm.com
© 2013-2014 280 Group LLC. 44
75% of Companies Don’t Understand PM
Source: 280 Group 2013 survey 44© 2013-2014 280 Group LLC. www.aipmm.com
© 2013-2014 280 Group LLC.Source: Pragmatic Marketing 2012 survey
Over 100 Different Titles for PM
Surveys show over 100 differentjob titles used for jobs with ProductManagement responsibilities
45© 2013-2014 280 Group LLC. www.aipmm.com
© 2013-2014 280 Group LLC. 46
Almost Half Of Companies Poorly-Defined PM
Source: Team Performance Survey, Actuation
Well-defined Not well-defined or no PM
48%!
46© 2013-2014 280 Group LLC. www.aipmm.com
© 2013-2014 280 Group LLC.
The Result?
You don’t get rewarded for allof your excellent hard work!
47X
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Sin #2: PM’s Not As Effective As They Could Be
Learning occurs on the job
Average PM overloaded
Lack of tools & infrastructure
No coaching/mentoring
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Poll (answer in chat box)
What percent of Product Managershave received training?
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Almost None
<2%!Source: Published Training Numbers 50www.aipmm.com
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Most PMs Have To Learn On The Job
Few companies with in-house training programs
Varied backgrounds and no training = varied results
If lucky you have a coach or Mentor
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Average PM Overloaded
>50% asked to do more with less
# products managed up to 3.3
78% work weekends (6 hours avg.)
Sources; 2010 Bakbone Product ManagementSurvey, Quantumwhisper 2009 PM survey 52www.aipmm.com
© 2013-2014 280 Group LLC.Source: Quantum Whisper 2009 PM survey
Lack Of PM Tools & Infrastructure
Poor or no process (30% don’t know)
Companies have not optimized PM department
No standardized document templates
Lack of access to data
No knowledge base
53© 2013-2014 280 Group LLC. www.aipmm.com
© 2013-2014 280 Group LLC.Source: Marketing Sherpa
Few PM Mentors & Coaches
Few, if lucky, will be mentored
73% have no coachEven lower for Product Managers
54© 2013-2014 280 Group LLC. www.aipmm.com
© 2013-2014 280 Group LLC.
Sin #3: Tactical, Not strategic
Most Product Managers underwaterToo overwhelmed/busy to be a strategic leaderWhat suffers:- Effectiveness- Career advancement- Job satisfaction
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Few Leaders Both Strategic And Tactical
56Source: Chet Holmes
<3%!© 2013-2014 280 Group LLC. www.aipmm.com
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Sin #4 - No Formal Career Plan
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Career path not defined
Companies don’t take responsibility
PM’s must create this themselves
Those who do thrive
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© 2013-2014 280 Group LLC. 58
You Are on Your Own For Career Success
Source: Individual Growth Strategies, 1995
“Employers are increasingly unwilling to promise andformally manage career opportunities.
HR policies are shifting accountability for careermanagement from employer to employee.”
58© 2013-2014 280 Group LLC. www.aipmm.com
© 2013-2014 280 Group LLC.Source: 2013 Gallup State of the workplace study
Sin #5: PM Not As Enjoyable As It Could Be
Making a real difference
Being effective
Getting credit
Vicious cycle affects performance
Bad attitude and become jaded
59© 2013-2014 280 Group LLC. www.aipmm.com
© 2013-2014 280 Group LLC.
Case Study: A Jaded PM
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Five Sins: What You Have Learned
Job not well understood
Not as effective as you could be
Tactical not strategic
No formal career plan
Not as enjoyable
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What can YOU do to rise
QUICKLY?
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Three: Five Strategies for Massive Success
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Case Study: Rapid Rise from PM to VP
Individual product manager
MBA from prestigious school
Created specific, aggressive planApplied the five strategies
Within 4 years VP of Marketing
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Strategy 1: Evangelize your role
Getting clarity on your role and non role
Buy in from your boss (and team)
Communicate over and over
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© 2013-2014 280 Group LLC. 6666Source: Avinandan Mukherjee, School of Business, Montclair State University
“Research findings indicate that roleclarity influences job satisfaction and
organizational commitment”
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© 2013-2014 280 Group LLC. 6767Source: Steven Bray, University of Lethbridge
“Individuals who reported higher role clarityalso reported higher role effectiveness and
performed better than those with lower clarity”
© 2013-2014 280 Group LLC. www.aipmm.com
© 2013-2014 280 Group LLC.
Strategy 2: Become MUCH More Effective
Templates
Productivity strategies
Prioritization techniques
Learn to say “No”
Find some help
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© 2013-2014 280 Group LLC.
Case Study: Writing an MRD
PM at Symantec
Writing Market Requirements Document (MRD)
Spent several hours tracking down old ones
Looked for standard template
Had to create from scratch
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Result: Hours of wasted time, document that isn’t effective
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Strategy 3: Create A Winning Career Plan
How many people here have awritten career plan?
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Poll: Choose from options• Yes• No• Sort Of
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Plans and Goals are Critical to Succeed
Famous study
3% of graduates earn 10X as much as other 97%
Those 3% had clear, written goals
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Elements of an Effective Career Plan
Goals
Skills development
Five most important allies
Coaches & Mentors
Differentiation
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Strategy 4: Get Training
Annual commitment
Foundational course to start – full lifecycle
Soft skills
Agile if appropriate
Advanced courses- Leadership- Certifications
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© 2013-2014 280 Group LLC.Source: Accenture Training ROI study
Training Delivers Measurable Results
17% more productive
20% higher performance levels relative to peers
ROI is 353%
74© 2013-2014 280 Group LLC. www.aipmm.com
© 2013-2014 280 Group LLC.
Training Isn’t a One-Time Event
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Lee Bill Marissa
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Case in Point One: Lee
Moves into Product Management
Learns on the job
Becomes somewhat proficient
Individual contributor for many years
8-10 years might become a manager
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Case in Point Two: Bill
Moves into Product Management
Takes a foundation PM course
Immediately proficient
Continues to learn on the job
Promoted to Manager after 6 years
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Case in Point Three: MarissaMoves into Product Management
Takes foundation course
Continues to learn on the job
Takes advanced courses
Earns certifications
Finds a coach/mentor
Manager at 4 years
VP at 7 years
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Who Do You Want To Be?
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Lee Bill Marissa
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Strategy 5: Get a Coach
Avoid career-ending mistakes
Get advice on how to excel
Accelerate your career
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Coaching Market Growing Massively
81Source: MarketData Report
“The $2.4 billion business coachingmarket is growing at about 18% per year”
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87% HR Managers: Coaching Value High
82Source: Marketing Sherpa Coaching Study© 2013-2014 280 Group LLC.
87%
11%
2%
Very HighSomewhat highLow
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© 2013-2014 280 Group LLC.Source: Innergized Solutions
Coaching Has Huge Benefits
67% Increase in Teamwork71% Increase in Relationships with Supervisors61% Increase in Job Satisfaction52% Reduction in Conflict
83© 2013-2014 280 Group LLC. www.aipmm.com
© 2013-2014 280 Group LLC.
Training Delivers 18% Productivity Gain
What if you combine trainingwith coaching?
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Coaching with Training: 88% Gain
Source: Summers, 2004
400%More Effective!
85© 2013-2014 280 Group LLC. www.aipmm.com
© 2013-2014 280 Group LLC.
Five Strategies: What you have learned
Evangelize
Effectiveness
Career Plan
Training
Coach
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© 2013-2014 280 Group LLC.
Four: Creating Your Own Custom Plan
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How to Craft Your Custom Plan
Create your career plan
Find a coach or mentor
Commit to ongoing training
Arm yourself with productivity & learning tools
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Who Needs A Coach?
90Everyone!
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Criteria for an Excellent Coach
Extensive experience
Help clarify & evangelize your role
Assistance building career plan
Harvard study – you want to be 3%
Achieved what you want
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Skills Assessments Must be Included
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Coaching Has a HUGE ROI
93Source: 2009 International Coach Federation Client Study
Median coaching ROI is 700%!
© 2013-2014 280 Group LLC. www.aipmm.com
© 2013-2014 280 Group LLC.
How to Choose Training
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Class Size Makes all the Difference
Source: Journal of Educational Psychology
Small class sizes were associated withsignificantly higher performance
95© 2013-2014 280 Group LLC. www.aipmm.com
© 2013-2014 280 Group LLC.
Trainers Must Be Actively Doing PM
Not professors
Not people who only do training
At least 10 years experience
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“How To” Skills & Tools
“How” not just what
Lots of hands-on exercises
Templates & skills you can immediately apply
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Complete Product LifeCycle
Flexible framework for your situation
Must learn both PM and PMM to be effective
Foundation courses should teach everything
Learn to manage any product at any stage
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Productivity Templates for Entire Lifecycle
99Source: HSC 2011
Templates save time tocompletion of more effective
documents by 40%
© 2013-2014 280 Group LLC. www.aipmm.com
© 2013-2014 280 Group LLC.
It’s Our Hope You Have Learned…
The rise of Product Management
The five sins that cause miserable failure
Five critical strategies for massive success
Creating your custom plan
100www.aipmm.com
© 2013-2014 280 Group LLC.
Wrapping Up
101
Free Copy for all Attendees!www.aipmm.com
© 2013-2014 280 Group LLC.
But First…
102www.aipmm.com
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103
Complete solutionsto make you a greatProduct Managerand advance yourcareer in everyphase
© 2013-2014 280 Group LLC.
Product Management Success Program
104www.aipmm.com
© 2013-2014 280 Group LLC.
What’s The Value To You?Coaching
Assessment and career plan
PM Office Templates
Books
Training discount
105www.aipmm.com
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Poll (answer in chat box)
106
How much do you think this would add to yourearnings in the next 5 years?
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Product Management Success Program
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SAVE $300: ONLY $1,695TOTAL SAVINGS: $969SPECIAL OFFER:
EXPIRES 9/5/2014MIDNIGHT PSTNO EXCEPTIONS!!!
SAVE $600: ONLY $2,895TOTAL SAVINGS: $1,469
SAVE $900: ONLY $5,595TOTAL SAVINGS: $1,864
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Special Bonus!
108
First 10 people that sign up get anadditional 20 minute consultation(phone or in-person) with BrianLawley to strategize on how torapidly accelerate your career!
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Order Now!!
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1. Go to http://bit.ly/PMSuccess2. Choose Bronze, Silver or Gold3. Use the coupon code to save!
• Save $300 on Bronze - 2PM3SU0AIP• Save $600 on Silver - 2PM6SU0AIP• Save $900 on Gold - 2PM9SU0AIP
First 10 get private consultation with BrianEXPIRES 9/5/2014 MIDNIGHT PST
NO EXCEPTIONS!!!www.aipmm.com
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Drawing!
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http://bit.ly/PPMEBOOKUse coupon code: PPMEB100K
Download your FREE copy!
One person wins the entire 280Group Press series!
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Q & APresenter:
Brian LawleyCEO & Founder@hmdelcastillo@[email protected]+1.408.834-7518 x1
1. Go to http://bit.ly/PMSuccess2. Choose Bronze, Silver or Gold3. Use the coupon code to save!
• Save $300 on Bronze - 2PM3SU0AIP• Save $600 on Silver - 2PM6SU0AIP• Save $900 on Gold - 2PM9SU0AIP
First 10 get private consultation with BrianEXPIRES 9/5/2014 MIDNIGHT PST
NO EXCEPTIONS!!!
SPECIAL OFFER
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Join AIPMM!For a limited time, get aone-year AIPMMmembership when youpurchase a copy of theGuide to the ProductManagement andMarketing Body ofKnowledge(ProdBOK®). Learn morehere: http://bit.ly/1iUknEx.
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Upcoming Conference
Product Management Festival 2014Zurich, SwitzerlandSeptember 17-18
AIPMM is offering a 25% discount on admission price.Use promotional code to register: Discount-AIPMM.
To learn more, visit:http://bit.ly/1r2SNPd.
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Upcoming CoursesCertified Product Manager®
Oct 27-28, 2014 Austin, TXNov 17-18, 2014 London, EnglandDec 8-9, 2014 – DC Metro Area
Certified Product MarketingManager®
Oct 29-30, 2014 Austin, TXNov 19-20, 2014 London, Englang
Dec 10-11, 2014 – DC Metro Area
Click on the dates above for more information.If you have a team of 10 or more that you want to
certify, contact [email protected]
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Please Join Us Again!
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