What It Takes to Become a Great Product Manager: Re-Organizing the World's Information

What It Takes to Become a Great Product Manager: Re-Organizing the World's Information

In today's fast-paced and technology-driven world, the role of a product manager (PM) has become increasingly important. PMs are not the CEOs of products, but rather, they play a crucial role in creating products with strong user adoption and exponential revenue growth. However, becoming a great PM requires more than just technical skills and industry knowledge. Aspiring PMs should consider three primary factors when evaluating a role: core competencies, emotional intelligence (EQ), and company fit.

Core competencies are the foundational skills that every PM should possess. These include strong analytical abilities, strategic thinking, and problem-solving skills. PMs need to be able to analyze data, identify trends, and make informed decisions based on their findings. They also need to think strategically about the product roadmap and how it aligns with the company's goals. Additionally, PMs should have excellent communication and presentation skills to effectively convey their ideas and gain buy-in from stakeholders.

Emotional intelligence (EQ) is another crucial factor in becoming a great PM. PMs need to be able to empathize with customers and understand their needs and pain points. This requires actively listening and observing during user interviews, being tuned into body language and emotions, and astutely sussing out the underlying issues that the product or feature will address. By forming authentic and trustworthy connections with both internal and external stakeholders, the best PMs inspire people and help them reach their full potential.

Company fit is often overlooked but can greatly impact a PM's success. PMs must have a deep understanding of how the organization operates and be able to navigate its complexities. They need to build social capital to influence the success of their product, from obtaining budget and staffing to securing top engineers to work on their product. Additionally, PMs should align with the company's values and culture to thrive in their roles. A mismatch in values can lead to frustration and ultimately hinder a PM's ability to succeed.

Now, let's shift gears and discuss the challenges of organizing the world's information. As information becomes more abundant, the connections drawn between disparate pieces are becoming increasingly important. However, the current landscape of information platforms is overwhelming and often makes it hard to find the signal amidst the noise. Irrelevant filters, ad-based business models, and unconstrained supply have contributed to this problem.

One of the key players in this space is Google, which initially set out to organize the world's information. However, over time, Google has shifted its focus towards monetizing clicks to support advertisers rather than prioritizing the search experience for users. This has resulted in ethically dubious design choices and a lack of trust in the platform. Users are now seeking alternatives that prioritize curated and trustworthy information.

Vertical search aggregators like Yelp offer utility when users know exactly what they want. However, this approach doesn't address the starting point of most users, which is often uncertainty and a need for better discovery and curation. The conversation around curation has been too focused on the content itself, rather than the structure. There is an opportunity to move towards more goal-oriented interfaces, where users can find the content they want on their terms, without being beholden to when curators decide to publish.

The challenge lies in the fact that there is a firehose of information being created, but few people devoted to filtering, organizing, curating, and indexing that information. Many curation sites start with high-quality recommendations but struggle to maintain the same level of quality as they scale. Ad-driven models often lead to a competition for attention between advertisers and content producers, resulting in platforms that feel like marketing blogs.

Subscription models offer a potential solution, as they provide a steady stream of revenue and allow startups to overcome the cold start problem. However, subscription models may not be suitable for all use cases, especially when the frequency of use is low. Nascent token-based business models show promise, as they give ownership to stakeholders and allow subscribers to benefit from future upside.

In conclusion, becoming a great product manager requires a combination of core competencies, emotional intelligence, and company fit. PMs need to possess strong analytical and strategic thinking skills, as well as the ability to empathize with customers and build authentic connections with stakeholders. Additionally, PMs must navigate the challenges of organizing the world's information by prioritizing curation and trustworthy content. Three actionable pieces of advice for aspiring PMs are:

1. Continuously develop your core competencies: Stay updated with industry trends, sharpen your analytical skills, and improve your communication and presentation abilities.

2. Foster emotional intelligence: Actively listen and observe during user interviews, practice empathy, and build authentic connections with both internal and external stakeholders.

3. Seek company fit: Understand the organization's values and culture, and align yourself with them to thrive in your role as a PM.

By following these pieces of advice and staying adaptable in an ever-evolving landscape, aspiring PMs can increase their chances of becoming great product managers and contributing to the success of their products and organizations.