Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Product Management Careers: 5 Strategies for Rapid Success

1,863 views

Published on

Product Management Careers. Five strategies to help you rapidly accelerate your career as a Product Manager. This special report will give you the data and strategies you need to succeed.

Published in: Marketing

Product Management Careers: 5 Strategies for Rapid Success

  1. 1. Product Management Careers © 2013-2014 280 Group LLC. www.280group.com 1 Special Report: Five Critical Strategies for Rapid Success in Your Product Management Career
  2. 2. Why We Commissioned the Product Management Careers Study Worked with thousands of Product Managers No comprehensive study or data Further profession Help others be successful © 2013-2014 280 Group LLC. www.280group.com 2
  3. 3. About the Product Management Careers Study >25 research studies and reports Millions of dollars of research Hundreds of hours © 2013-2014 280 Group LLC. 3 We are pleased to share this informative study with you! www.280group.com
  4. 4. Get Social With Us… © 2013-2014 280 Group LLC. 4 Hashtags: #280group #prodmgmt 280 LinkedIn Product Management Group: 32k members www.linkedin.com/groups/280-Group-Product-Management-Product-2193 Twitter: @the280group @brianlawley www.facebook.com/the280group www.280group.com
  5. 5. Product Management Careers: Areas Covered About 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 © 2013-2014 280 Group LLC. www.280group.com 5
  6. 6. Brian Lawley: CEO & Founder © 2013-2014 280 Group LLC. 6 Thought Leadership in Product Management Award www.280group.com
  7. 7. The 280 Group: Silicon Valley Innovation © 2013-2014 280 Group LLC. www.280group.com 7
  8. 8. Mission © 2013-2014 280 Group LLC. 8 We transform organizations and individuals to perform highly effective Product Management based on our innovative and easily adopted Optimal Product Process™ framework. www.280group.com
  9. 9. Optimal Product Process™ >200 years experience Any development methodology Flexible & customizable Strategic/Tactical All companies Any industry © 2013-2014 280 Group LLC. 9 Optimal Product Process™ (OPP) Business Case Document Market Needs Document Optimizing Product Management™ Product Description Document Roadmap Document Approval to fund business planning Approval to fund development Product ready for field testing Marketing Launch Plan Plan End of Life Plan Product and organization ready On-going marketing ready New version or retire completely Beta Plan Market Strategy Document Conceive Plan Qualify PM + Engineering (Agile, Hybrid,Waterfall) Run Beta/Pilot program Write launch plan Release product, gather feedback Write marketing plan Discover opportunities Develop Launch Maximize Validate product/ market fit Create roadmap and strategy Solidify business plans Solidify develop plans Write beta plan Support sales Retire Communicate EOL Plan sunset or replacement Perform post mortem Deliver final documents Plan EOL and next release Develop preliminary documents Perform post mortem Test messaging and positioning Final feature list Run/monitor marketing Product Management Product Marketing Exit Criteria Phases and Activities STRATEGY EXECUTION The OPP framework is completely customizable and flexible, making it easily adopted by any company regardless of size, maturity, or development methodology. Development – Agile, Hybrid,Waterfall Documentation – None, Lightweight, Formal Maturity – Startup, Small/Medium, Enterprise Optimal Product Process Methodology © 280 Group, 2011-2014 Source: Conceive to Retire from AIPMM Product Management Body of Knowledge® (ProdBOK®)
  10. 10. Product Management Careers: Solutions © 2013-2014 280 Group LLC. 10 Complete solutions to make you a great Product Manager and advance your career in every phase
  11. 11. One: The Rise of Product Management © 2013-2014 280 Group LLC. www.280group.com 11
  12. 12. Product Management is Now Mandatory 1931 1980’s and 1990’s © 2013-2014 280 Group LLC. 12 Today www.280group.com
  13. 13. Fourth MOST Important in Corporate America 1. CEO 2. Senior Executives 3. General Manager 4. Product Manager © 2013-2014 280 Group LLC. Source: CBS News 2013 poll of corporate executives © 2013-2014 280 Group LLC. www.280group.com 13
  14. 14. Critical For Time to Market Companies that empower product managers are 50% faster to market! Source: 2009, Aegis Resources Inc. © 2013-2014 280 Group LLC. www.280group.com 14
  15. 15. Executives Highly Influenced Source: 2012 Team Performance Survey, Actuation 58% of PM’s work directly with CEO, CMO, CFO and VP Sales © 2013-2014 280 Group LLC. www.280group.com 15
  16. 16. CEO’s Demand PM Report Directly 30% of CEOs have Product Management Organizations reporting directly to them Source: 2012 Pragmatic Marketing Survey © 2013-2014 280 Group LLC. www.280group.com 16
  17. 17. Product Management Careers: Present in All Company Sizes Source: Salary.com 2013 Product Management By Company Size 18% 24% 15% 15% 18% 5% 5% <100 100-500 500-1k 1k-7.5k 7.5k-15k 15k-50k 50k+ © 2013-2014 280 Group LLC. www.280group.com 17
  18. 18. Product Management Careers: Present Across In All Industries Source: Salary.com 2013 Product Management by Industry 15% 7% 12% 13% 8% MFG Durable Retail & Wholesale Software & Networking MFG Nondurable Healthcare © 2013-2014 280 Group LLC. www.280group.com 18
  19. 19. Product Management Careers: Competition is Very Experienced 12% 21% 32% 22% 13% Zero to One Two to Five Five to Ten Ten to Fifteen Fifteen+ 67% of PM’s have >5 Years Experience Source: Salary.com 2013 © 2013-2014 280 Group LLC. www.280group.com 19
  20. 20. Product Management Careers: Competition is Well-Educated Source: Salary.com 2013 1% 3% 4% 1% 52% 39% No diploma High School Associate's/Certificate Bachelor's Master's Doctorate >50% of PM’s have Master’s Degrees © 2013-2014 280 Group LLC. www.280group.com 20
  21. 21. Product Management Careers: PaysWell – up to $210k © 2013-2014 280 Group LLC. Source: Salary.com 2013 www.280group.com 21
  22. 22. Product Management Careers: Top 10 Jobs © 2013-2014 280 Group LLC. Source: Money Magazine www.280group.com 22
  23. 23. PM Well-Positioned To Become Executives © 2013-2014 280 Group LLC. 23 Sales Press/Analysts PM Customers Support Channel Operations Executives Partners Marketing Engineering www.280group.com
  24. 24. Product Management Careers to CEO © 2013-2014 280 Group LLC. 24 Steve Ballmer: Microsoft www.280group.com
  25. 25. Product Management Careers to CEO © 2013-2014 280 Group LLC. 25 Marissa Mayer: Google/Yahoo www.280group.com
  26. 26. Product Management Careers to CEO © 2013-2014 280 Group LLC. Scott Cook: Intuit www.280group.com 26
  27. 27. Apple and Product Management © 2013-2014 280 Group LLC. 27 Apple: Steve2 www.280group.com
  28. 28. Mike Markkula: The ORIGINAL Apple PM © 2013-2014 280 Group LLC. www.280group.com 28
  29. 29. Proctor & Gamble Requires PM Source: Gale Group The last seven CEOs have been former product managers © 2013-2014 280 Group LLC. www.280group.com 29
  30. 30. Huge Opportunity –Massive Job Openings LinkedIn Job Openings: • 4k Product Managers • 5.5k Directors • 1k Vice Presidents >10k! © 2013-2014 280 Group LLC. Source: LinkedIn 2013 www.280group.com 30
  31. 31. Can be a VERY Rewarding Job 66% of Product Managers motivated by “Delivering Great Products” and “Driving a Vision” Source: 280 Group Poll – 30k members 2013 © 2013-2014 280 Group LLC. www.280group.com 31
  32. 32. PM Rising: What You Have Learned • Product Management Careers is rising • More important than ever • Great career path • Huge opportunity © 2013-2014 280 Group LLC. www.280group.com 32
  33. 33. What stops people from rising in Product Management quickly? © 2013-2014 280 Group LLC. www.280group.com 33
  34. 34. Two: 5 Deadly Sins That Will Kill Your Career © 2013-2014 280 Group LLC. www.280group.com 34
  35. 35. Sin #1: No One Understands What You Do Varies dramatically in each company Overlap/confusion with other roles Result: PM’s perceived value lower © 2013-2014 280 Group LLC. www.280group.com 35
  36. 36. 75% of Companies Don’t Understand PM Source: 280 Group 2013 survey www.280group.com © 2013-2014 280 Group LLC. 36
  37. 37. © 2013-2014 280 Group LLC. Source: Pragmatic Marketing 2012 survey Over 100 Different Titles for PM Surveys show over 100 different job titles used for jobs with Product Management responsibilities www.280group.com 37
  38. 38. Almost Half Of Companies Poorly-Defined PM Source: Team Performance Survey, Actuation 48%! Well-defined Not well-defined or no PM © 2013-2014 280 Group LLC. www.280group.com 38
  39. 39. The Result? You don’t get rewarded for all of your excellent hard work! © 2013-2014 280 Group LLC. 39 X www.280group.com
  40. 40. 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 © 2013-2014 280 Group LLC. www.280group.com 40
  41. 41. 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 © 2013-2014 280 Group LLC. www.280group.com 41
  42. 42. Average PM Overloaded >50% asked to do more with less # products managed up to 3.3 78% work weekends (6 hours avg.) © 2013-2014 280 Group LLC. Sources; 2010 Bakbone Product Management Survey, Quantum whisper 2009 PM survey www.280group.com 42
  43. 43. 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 © 2013-2014 280 Group LLC. Source: Quantum Whisper 2009 PM survey www.280group.com 43
  44. 44. © 2013-2014 280 Group LLC. Source: Marketing Sherpa Few PM Mentors & Coaches Few, if lucky, will be mentored 73% have no coach Even lower for Product Managers www.280group.com 44
  45. 45. Sin #3: Tactical, Not strategic Most Product Managers underwater Too overwhelmed/busy to be a strategic leader What suffers: - Effectiveness - Career advancement - Job satisfaction © 2013-2014 280 Group LLC. www.280group.com 45
  46. 46. Few Leaders Both Strategic And Tactical Source: Chet Holmes <3%! © 2013-2014 280 Group LLC. www.280group.com 46
  47. 47. Sin #4 - No Formal Career Plan © 2013-2014 280 Group LLC. 47 Career path not defined Companies don’t take responsibility PM’s must create this themselves Those who do thrive www.280group.com
  48. 48. You Are on Your Own For Career Success “Employers are increasingly unwilling to promise and Source: Individual Growth Strategies, 1995 formally manage career opportunities. HR policies are shifting accountability for career management from employer to employee.” © 2013-2014 280 Group LLC. www.280group.com 48
  49. 49. 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 © 2013-2014 280 Group LLC. Source: 2013 Gallup State of the workplace study www.280group.com 49
  50. 50. Case Study: A Jaded PM © 2013-2014 280 Group LLC. www.280group.com 50
  51. 51. 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 © 2013-2014 280 Group LLC. www.280group.com 51
  52. 52. What can YOU do to rise QUICKLY? © 2013-2014 280 Group LLC. www.280group.com 52
  53. 53. Three: Five Strategies for Massive Success © 2013-2014 280 Group LLC. www.280group.com 53
  54. 54. Case Study: Rapid Rise from PM to VP Individual product manager MBA from prestigious school Created specific, aggressive plan Applied the five strategies Within 4 years VP of Marketing © 2013-2014 280 Group LLC. www.280group.com 54
  55. 55. Strategy 1: Evangelize your role Getting clarity on your role and non role Buy in from your boss (and team) Communicate over and over © 2013-2014 280 Group LLC. www.280group.com 55
  56. 56. “Research findings indicate that role clarity influences job satisfaction and organizational commitment” Source: Avinandan Mukherjee, School of Business, Montclair State University © 5566 2013-2014 280 Group LLC. www.280group.com
  57. 57. “Individuals who reported higher role clarity also reported higher role effectiveness and performed better than those with lower clarity” Source: Steven Bray, University of Lethbridge © 5577 2013-2014 280 Group LLC. www.280group.com
  58. 58. Strategy 2: Become MUCHMore Effective Templates Productivity strategies Prioritization techniques Learn to say “No” Find some help © 2013-2014 280 Group LLC. www.280group.com 58
  59. 59. 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 © 2013-2014 280 Group LLC. 59 Result: Hours of wasted time, document that isn’t effective www.280group.com
  60. 60. 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 © 2013-2014 280 Group LLC. www.280group.com 60
  61. 61. Elements of an Effective Career Plan Goals Skills development Five most important allies Coaches & Mentors Differentiation © 2013-2014 280 Group LLC. www.280group.com 61
  62. 62. Strategy 4: Get Training Annual commitment Foundational course to start – full lifecycle Soft skills Agile if appropriate Advanced courses - Leadership - Certifications © 2013-2014 280 Group LLC. www.280group.com 62
  63. 63. Training Delivers Measurable Results 17% more productive 20% higher performance levels relative to peers ROI is 353% © 2013-2014 280 Group LLC. Source: Accenture Training ROI study www.280group.com 63
  64. 64. Training Isn’t a One-Time Event © 2013-2014 280 Group LLC. 64 Lee Bill Marissa www.280group.com
  65. 65. 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 © 2013-2014 280 Group LLC. www.280group.com 65
  66. 66. 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 © 2013-2014 280 Group LLC. www.280group.com 66
  67. 67. Case in Point Three: Marissa Moves 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 © 2013-2014 280 Group LLC. www.280group.com 67
  68. 68. Who Do You Want To Be? © 2013-2014 280 Group LLC. 68 Lee Bill Marissa www.280group.com
  69. 69. Strategy 5: Get a Coach Avoid career-ending mistakes Get advice on how to excel Accelerate your career © 2013-2014 280 Group LLC. www.280group.com 69
  70. 70. Coaching Market Growing Massively market is growing at about 18% per year” Source: MarketData Report “The $2.4 billion business coaching © 2013-2014 280 Group LLC. www.280group.com 70
  71. 71. 87% HR Managers: Coaching Value High Very High Somewhat high Low Source: Marketing Sherpa Coaching Study 87% 11% 2% © 2013-2014 280 Group LLC. www.280group.com 71
  72. 72. Coaching Has Huge Benefits 67% Increase in Teamwork 71% Increase in Relationships with Supervisors 61% Increase in Job Satisfaction 52% Reduction in Conflict © 2013-2014 280 Group LLC. Source: Innergized Solutions www.280group.com 72
  73. 73. Coaching with Training: 88% Gain Source: Summers, 2004 400% More Effective! © 2013-2014 280 Group LLC. www.280group.com 73
  74. 74. Five Strategies: What you have learned Evangelize Effectiveness Career Plan Training Coach © 2013-2014 280 Group LLC. www.280group.com 74
  75. 75. © 2013-2014 280 Group LLC. www.280group.com
  76. 76. Four: Creating Your Own Custom Plan © 2013-2014 280 Group LLC. www.280group.com 76
  77. 77. 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 © 2013-2014 280 Group LLC. www.280group.com 77
  78. 78. Who Needs A Coach? © 2013-2014 280 Group LLC. 78 Everyone! www.280group.com
  79. 79. 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 © 2013-2014 280 Group LLC. www.280group.com 79
  80. 80. Skills Assessments Must be Included © 2013-2014 280 Group LLC. www.280group.com 80
  81. 81. Coaching Has a HUGE ROI Median coaching ROI is 700%! Source: 2009 International Coach Federation Client Study © 2013-2014 280 Group LLC. www.280group.com 81
  82. 82. How to Choose Training © 2013-2014 280 Group LLC. www.280group.com 82
  83. 83. Class Size Makes all the Difference Small class sizes were associated with significantly higher performance Source: Journal of Educational Psychology © 2013-2014 280 Group LLC. www.280group.com 83
  84. 84. Trainers Must Be Actively Doing PM Not professors Not people who only do training At least 10 years experience © 2013-2014 280 Group LLC. www.280group.com 84
  85. 85. “How To” Skills & Tools “How” not just what Lots of hands-on exercises Templates & skills you can immediately apply © 2013-2014 280 Group LLC. www.280group.com 85
  86. 86. 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 © 2013-2014 280 Group LLC. www.280group.com 86
  87. 87. Productivity Templates for Entire Lifecycle Source: HSC 2011 Templates save time to completion of more effective documents by 40% © 2013-2014 280 Group LLC. www.280group.com 87
  88. 88. 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 © 2013-2014 280 Group LLC. www.280group.com 88
  89. 89. Complete solutions to accelerate Product Management Careers at all phases! © 2013-2014 280 Group LLC. 89
  90. 90. Product Management Careers: Success Program © 2013-2014 280 Group LLC. www.280group.com 90
  91. 91. © 2013-2014 280 Group LLC. Questions? (408) 834-7518 contact@280group.com www.280group.com 91 www.280group.com

×