5 Product Management Lessons from the Godfather
By Arijit Banerjee
The cult movie Godfather is one that all of us have watched. It’s been praised for being cinematically brilliant, having well-defined characters, and being able to tell the story of gangsters and immigrants through a well-written plot. These aren’t the only reasons why you should watch this movie. For those who are interested in Product Management, there are 5 key lessons you can take away from the movie.
Make them an offer they can't refuse
If you’re a Product Manager, you need to make a product that meets your customer’s needs. There’s no point of making a product that has little or no application and then expecting it to do well. Create something that no one can resist, something that your audience or customer base can’t ignore. If the product can’t be refused, then you’ll find marketing it and selling it easy too.
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Keep your friends close, but your enemies closer
Your enemies in the business world are your competitors. There is no point of developing a great product if there are 200 just like it already in the market. You need to know what your competitors are up to so that you can modify your product and stay one step ahead of them. No matter how big or small the enemy can seem, they might be a bigger threat to you than you’d imagine so always keep them close. Also, having a healthy rivalry always seems to push two competitors beyond their limits, and in-fact, it becomes very beneficial to both sides.
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A lot goes into the making of a successful product such as a good Product planning, product branding, enterprise architect, marketing team and more. Each individual plays a key role in the success of your product and for them to continue to do so, you need to reward their hard work and loyalty. A team that feels appreciated is more likely to work better and produce better results.
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Business is Personal
Business is more than just about making money and a title, it’s about doing something that you’re passionate about. If you don’t love the product you make and if you’re not passionate about it, then you will never be able to sell it. Your product needs to be one that you can see yourself using and one that you love. If you look at it as just another job and just another product, you’ll never get the results you desire. Remember that it’s not just business, it should also be personal.
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Forgive. Forget. Life is full of misfortunes
Don’t crumble under failure and never let a loss get the better of you. If you look at people like Bill Gates and Steve Jobs, you know that it’s never easy, but you can never give up. You need to constantly learn from your mistakes and improve. At the same time, you also need to realise that mistakes do happen, forgive yourself for them and look for ways to make peace within yourself.
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The same goes for the team if they make a mistake, forgive them, forget the mistake, and give them a chance to prove themselves because life is full of misfortunes.
Of course there can be so many other lessons to take away from the movie. A good product manager has to have a varied skill-set, and so getting the right knowledge can do wonders when it comes to making a successful career. Of course, a world –class option in gaining the right kind of knowledge would be Manipal ProLearn, where you can enrol in our two year post graduate program in Product Management.