#21 Keys to Success: Traits that Define Good and Great Product Managers
A good Product Manager possesses certain fundamental qualities and skills, while a great Product Manager takes those attributes to an advanced level and demonstrates exceptional leadership. Here are the key differentiators between a good and a great Product Manager and questions you can ask yourself to assess your abilities and progress:
Good Product Manager:
- Strong Communication:
A good Product Manager communicates effectively with stakeholders, team members, and customers, ensuring clear understanding and alignment on product goals and requirements.
Am I effectively conveying product goals and requirements to the development team?
Are stakeholders clear on the product vision and roadmap?
2. Analytical Skills: They can analyze data, market trends, and user feedback to make informed decisions about product features and improvements.
Am I using data to inform product decisions, such as feature prioritization?
How am I measuring the success of recent product updates?
3. Product Knowledge: A good Product Manager thoroughly understands the product and its technical aspects, as well as the industry it operates in.
Do I have a comprehensive understanding of the product’s features and functionality?
Have I kept myself updated on recent updates and technical aspects of the product?
4. Project Management: They can manage product development projects effectively, ensuring timelines are met and resources are utilized efficiently.
Am I successfully managing product development timelines and milestones?
Have I efficiently allocated resources for different product initiatives?
5. Stakeholder Collaboration: Good Product Managers work well with cross-functional teams, aligning their efforts towards a common product vision.
How well am I working with cross-functional teams to align efforts towards product success?
Are there any communication gaps with stakeholders that need to be addressed?
6. User-Centric Approach: They prioritize user needs and design products that solve real problems for customers.
Do I regularly engage with users to understand their needs and pain points?
How am I incorporating user feedback into product improvements?
Great Product Manager:
- Visionary Leadership: A great Product Manager has a clear and inspiring vision for the product’s future, guiding the team and stakeholders towards success.
Do I have a clear and inspiring vision for the product’s future?
How am I communicating this vision to the team and stakeholders?
2. Strategic Thinking: They think strategically, anticipating market trends and opportunities, and making decisions that align with long-term business objectives.
Am I anticipating market trends and identifying growth opportunities for the product?
Are my decisions aligning with long-term business objectives?
3. Empathy and Emotional Intelligence: Great Product Managers understand and empathize with users and team members, creating a positive and inclusive work environment.
Do I actively listen to team members and understand their perspectives?
How am I fostering a positive and inclusive work environment?
4. Risk Management: They can identify potential risks and challenges early on, proactively developing contingency plans to mitigate negative impacts.
Have I identified potential risks and developed contingency plans to address them?
How am I proactively managing risks during product development?
5. Innovation and Creativity: Great Product Managers are innovative thinkers, constantly seeking new solutions and ideas to push the product’s boundaries.
Hoe am I encouraging a culture of innovation within the team?
How am I exploring new solutions and ideas to improve the product?
6. Data-Driven Decision Making: They rely on data-driven insights and use metrics to measure success, optimize features, and prioritize product improvements.
Do I rely on data and metrics to measure product success and make informed decisions?
How am I using data to optimize features and drive product improvements?
7. Customer Advocacy: Great Product Managers advocate fiercely for customers, ensuring their voices are heard and their needs are addressed in the product’s development.
How am I actively advocating for customer needs within the organization?
Do I regularly seek and prioritize customer feedback?
8. Adaptability: They embrace change and adapt quickly to evolving market conditions and customer feedback.
How well do I handle and embrace change in response to market dynamics?
Am I open to feedback and willing to adjust strategies as needed?
9. Strong Leadership: A great Product Manager inspires and motivates their team, empowering them to deliver exceptional results.
How am I inspiring and motivating my team to deliver exceptional results?
Do I empower team members to take ownership of their work?
10 Business Acumen: They understand the company’s business model, revenue streams, and how the product contributes to overall profitability.
Do I understand the financial impact of the product and its contribution to company goals?
How can I align the product strategy with the overall business model?
While a good Product Manager possesses foundational skills and knowledge to manage a product effectively, a great Product Manager goes above and beyond by demonstrating exceptional leadership, strategic thinking, innovation, and a deep commitment to customer success. They are visionaries who inspire their teams and stakeholders to achieve outstanding results and drive the product to new heights.
Asking the above questions and reflecting on the answers can help you gauge your performance, identify areas for improvement, and set goals for growth.
Wish you a great personal and professional growth journey!
