{"id":930,"date":"2019-10-04T01:14:23","date_gmt":"2019-10-04T06:14:23","guid":{"rendered":"https:\/\/lindagorchels.com\/blogs\/?p=930"},"modified":"2019-10-04T13:19:15","modified_gmt":"2019-10-04T18:19:15","slug":"rules-every-product-manager-should-follow","status":"publish","type":"post","link":"https:\/\/lindagorchels.com\/blogs\/rules-every-product-manager-should-follow\/","title":{"rendered":"Rules Every Product Manager Should Follow"},"content":{"rendered":"\n

There are many types of product managers in diverse\nindustries. Yet, there are commonalities that bind them together.  A few guidelines keep popping up in many\narticles. Here are those rules every product manager should follow, the Ten\nCommandments.<\/p>\n\n\n\n

The Product Managers’ Ten Commandments<\/strong><\/p><\/blockquote><\/figure>\n\n\n\n

As a product manager, thou shalt\u2026<\/p>\n\n\n\n

\"\"<\/figure><\/div>\n\n\n\n

I. Master customer insights<\/h3>\n\n\n\n

The\ncornerstone of your product strategy is the ability to attract and keep\nhigh-equity customers. Even though product<\/em> is in your job title, your\nmost important role is to create benefits for (the \u201cright\u201d) users. Who are the\nmost important consumers and why? How are the most important customers\ndifferent from those who are more short-term or opportunistic? <\/p>\n\n\n\n

II. Focus on outcomes<\/h3>\n\n\n\n

Start\nwith the end in mind. That\u2019s a common recommendation, but one often lost in the\nbusiness of day-to-day life. The reasons for a product\u2019s existence are to produce\ncustomer benefits and to provide present or future financial returns. The\nproduct has to accomplish strategic goals to justify its survival. <\/p>\n\n\n\n

III. Recognize you are part of a team<\/h3>\n\n\n\n

As\nyou focus on outcomes, you can\u2019t do everything alone. Other functions in the organization\ncontribute to the planning and execution of product performance. Acknowledge\nthat. Appreciate that. Accept the opportunities and boundaries inherent in\nteamwork. Always check your ego at the door.<\/p>\n\n\n\n

IV. Heed the big picture<\/h3>\n\n\n\n

Products\nlive within ecosystems. There are ancillary products, competitors,\ncomplementors, and niche-specific offerings. Your product\u2019s success may rely on\nother products. Or it may be a critical component for another device. That\u2019s\nthe reality of reciprocity. Stay abreast of trends, competitor strengths and\nweaknesses, regulatory and social changes, and the need to balance past,\npresent, and future.<\/p>\n\n\n\n

V. Establish portfolio thinking<\/h3>\n\n\n\n

As part of big-picture reflections, product managers should establish a portfolio mindset. There are, in fact, three common sub-portfolios: R&D (visionary) concepts, work-in-process new products, and existing products. The first category contains ideas that could enter a future new-product pipeline. They are the \u201cfuzzy front end\u201d inspirations. The second category houses products somewhere in the development process. They demand team attention and occasional re-balancing. The final category contains assets that generate current cash flow for the organization. As stewards of this final sub-portfolio, product managers determine the best approaches to profitable life-cycle management. <\/p>\n\n\n\n

VI. Monitor priorities<\/h3>\n\n\n\n

Portfolio\nplanning demands you monitor what is and is not important. You need to prioritize\nbacklogs (a fancy word for \u2018tasks\u2019), features, and products. Prioritize tasks\nthat are urgent, have high financial repercussions, and\/or could impact brand\nequity. Process improvements and next steps in a project plan are next-level\npriorities. In terms of features and products, give higher attention to those\nthat fit the product strategy and targeted customers. <\/p>\n\n\n\n

VII. Generate Plan B<\/h3>\n\n\n\n

Stick\nto your plan unless something in the product ecosystem causes a significant change\nin priorities. Then transition to a revised plan. The sooner you can cut your\nlosses when transitions occur, the quicker you can recover momentum. Avoid \u201cmagical\nthinking,\u201d and be willing to play \u201cdevil\u2019s advocate.\u201d Whatever triggered the\nneed to generate a new plan, don\u2019t move so fast you add failure to failure.<\/p>\n\n\n\n

VIII. Defend with data<\/h3>\n\n\n\n

Go beyond whims and assumptions when planning or re-prioritizing. Use data, both quantitative and qualitative. Decide what is relevant and what is superficial. Be firm.<\/p>\n\n\n\n

IX. Persuade with storytelling<\/h3>\n\n\n\n
\"\"<\/figure><\/div>\n\n\n\n

Stitch\ntogether the qualitative and quantitative details to create a picture that clarifies\nyour thinking. Make it visual, with relevant charts, demonstrations,\nanimations, models, and illustrations. You can even craft words alone into\ncustomer and industry stories that convey and strengthen powerful points. But\nbe concise. Simplify, simplify, simplify.<\/p>\n\n\n\n

X. Avoid cognitive overload<\/h3>\n\n\n\n

Product\nmanagers face information overload. They can become the central repository (think\ndumping ground) for everything product-related. Use planning and implementation\ntechniques that organize your workflow and thought processes. Flowcharts, action\nmaps, checklists, templates, and schedules are common tools of time organization.\n<\/p>\n\n\n\n

Flowchart<\/em>s are diagrams of\noperations, activities, and decisions, with symbols to show the various phases\nof a process.<\/p>\n\n\n\n

Action maps<\/em> are visual or textual models of future direction.<\/p>\n\n\n\n

Checklists<\/em>, while basic\nlistings of tasks, have power because of their simplicity.<\/p>\n\n\n\n

Templates<\/em> are fill-in-the-blank\nworksheets that help minimize overlooking something important. <\/p>\n\n\n\n

Schedule<\/em>s present annotated\ncalendars with owners, activities, and deadlines identified.<\/p>\n","protected":false},"excerpt":{"rendered":"

There are many types of product managers in diverse industries. Yet, there are commonalities that bind them together.  A few guidelines keep popping up in many articles. Here are those rules every product manager should follow, the Ten Commandments. The… <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[10],"tags":[],"class_list":["post-930","post","type-post","status-publish","format-standard","hentry","category-product-management"],"yoast_head":"\nRules Every Product Manager Should Follow - Linda Gorchels blogs<\/title>\n<meta name=\"description\" content=\"What are the rules that every product manager should follow? 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