Navigating the Product Needs Hierarchy and the Role of Community in the Curator Economy

Navigating the Product Needs Hierarchy and the Role of Community in the Curator Economy

Introduction:
In today's fast-paced and competitive business landscape, product management and curation play crucial roles in driving success. However, understanding the hierarchy of product needs and the importance of community involvement in the curator economy are essential for sustainable growth. This article explores the four levels of product management needs and how a knowledge-obsessed community can rescue the meaning of true curation.

Level 1: Shipping - The Basic Need:
At the most fundamental level, product managers focus on shipping features. In small companies, the responsibility may fall on tech leads or junior product managers. They engage in debates with design teams, test feature specifics with customer input, and ensure successful feature releases. While this level may not require extensive experience, it lays the foundation for future growth.

Level 2: Planning - Mid-term Vision:
As companies grow, the role of a senior product manager becomes crucial. They continuously challenge product-market fit and align the team on a 3-6 month mid-term vision. This requires a deep understanding of customer needs and stakeholder management. Senior product managers creatively draw out customer needs through surveys and interviews, building a vision for the product and rallying the team around it.

Level 3: Strategic - Towards the BHAG:
With product-market fit achieved and sufficient runway, strategic product managers envision the product's future at the 2-year mark. They align their plans with the company's long-term BHAG and explore different pathways to achieve it. These decisions involve stakeholders and de-risking strategies. Strategic product managers play a vital role in moving the company down a distinct path towards its ambitious goals.

Level 4: Strategic Partnering - Building the Moat:
At this level, the Chief Product Officer (CPO) becomes indispensable. They focus on bolstering the company's moat with product bets while designing an organization that sustains growth. CPOs facilitate partnerships, identify product holes, and create a 5-year plan. They also tell a powerful product story to secure funding, win enterprise accounts, and build a strong product culture. A well-networked part-time CPO with an outside perspective can be beneficial for fundraising and assessing product bets, while a full-time dedicated hire handles ongoing board relations and culture-building.

The Role of Community in the Curator Economy:
In the curator economy, true curation should be driven by knowledge, creativity, and the desire to inform and select. Unfortunately, the term "curation" has been misused, leading to a lack of meaning and quality. A knowledge-obsessed community can rescue the essence of curation by valuing meticulous consideration and the judgment of experts. Micro-influencers, who are more connected with their community, are preferred over celebrities. The community's role is to keep each other connected to the environment, provide indicators of value, and ensure well-curated information is accessible to everyone.

Conclusion:
Understanding the hierarchy of product needs and the importance of community involvement in the curator economy is crucial for modern businesses. To apply these insights, here are three actionable pieces of advice:

1. Assess your company's position on the hierarchy of product needs. Understand the level of experience and expertise required to drive decisions effectively.

2. Cultivate a knowledge-obsessed community that values true curation. Foster engagement and interaction to ensure well-curated information is readily available.

3. Consider the benefits of having a CPO or a fractional CPO to guide your product organization strategically. Evaluate the need for external perspectives and expertise in building partnerships and sustaining growth.

By aligning product management needs and leveraging the power of community, businesses can thrive in the ever-evolving landscape of the curator economy.