15 Lessons Learned as a Product Manager05/03/2013Suresh Krishna Madhuvarsu> www.sureshkrishna.com> www.linkedin.com/in/sureshmadhuvarsu
Remind your self about this fundamentalbuilding block everyday Strive towards increasing the revenues;reducing the costs and increasing the profits.
Today’s cost has to yield >2x revenues orindirect positive effect. If not, something iswrong with today’s cost. Sunk costs are important; don’t get stuck topast mistakes. Know a dead horse; don’t feed it;
Everyone has a perspective on what shouldbe done Customers may not always be right; Also,they may not always be wrong. Understand the user and buyer relationship Understand the engineering, sales limitations
Collect quantitative and qualitative dataabout the market and customers Gather the expert intelligence from theprevious experiences Balance between the data and intuition
…not tomorrow; not yesterday Set realistic expectations to customers Don’t push quarterly targets too hard on tosales If you sell future, you always need to catchup
The cost of fixing a problem tomorrow ismuch more expensive than today Don’t be lazy
Everyone is watching you Your market, customer and industryknowledge brings in energy to other teams Be positive
Human relation is much better than Emailand Phone conversation Take time to know everyone who isconnected to the product Networking is part of the job; it is aninvestment
You are smart; but customer is ALSO smart Your story has more effect than your feature Keep the story consistent
Test the hypothesis as early as possible; Failearly If you plan for a feature make sure someoneout there is ready to use it If there is a feature that’s not profitable, don’tbe afraid to prune
You are the owner of the product Every thing starts at you and ends at you Don’t pass the buck
…but should not drive your product Spend enough time to understand the movesof the competition YOUR vision should drive your product withan ultimate goal of building products thatcustomers love.
… with "no biases“ The glue to the cross functional teams Conduit of the information and data flow
Everyday is different at work Don’t get deep into the tactical work Don’t stop with Strategic work Do enough to balance the important andurgent tasks
…and smart people There are lots of things going on and beinghappy helps Being funny or humorous helps