Why Product Managers are indispensable to startups?
By Arijit Banerjee
Each year, India’s startup ecosystem develops at a rapid rate. The fast growing business of a startup has contributed to how we go on with our daily lives. However, for a startup to succeed, it requires much more than just a brilliant idea. It takes sheer skill and expertise to transform an idea into a one of a kind product that is affordable and useful to consumers. This heavy responsibility cannot be handled solely by the CEO. Instead, this vast role is spearheaded by a Product Manager who manages every movement of a product’s lifecycle; from product planning to measuring metrics.
Here are 3 reasons why Product Managers are so essential to startups:-
1) Translating a vision
The CEO manages every aspect of his business but it is the Product Management domain that translates the vision and executes it into an actual product. A Product Manger sets goals and develops strategies based on a startup’s vision and market needs as well as making sure resources are invested in the right places. A Product Manager repeatedly communicates the vision to everybody in the team and explains how, why and by when they’re going to build the product. He ensures teams function alongside other departments and recognizes progress made at every step of the way. Based on their knowledge of the product, market condition, users, competitors, etc. Product Managers articulate the value of their product in the market and create innovative product plans to address the needs of users. A Product Manager is the driving force behind a startup keeping track of every team member or taking note of any change that will ultimately make or break the company.
2) Staying Focused
Product Managers are organized, proactive and highly disciplined. They drive execution, solve problems and are the voice of their customers. They make sure the startup has a strong vision of what they want to achieve and by when. Depending on client feedback, consumer and market needs, Product Managers have the ability to cut through all the clutter and decide what best suits their product. Product Managers are constantly testing their product in real world conditions and recognizes when to take it forward. Product Mangers have the ability to keep their team focused in such a way that they grab the right opportunity and disregard any distraction.
3) Bringing the team together
Product Managers are often centered at the intersection of business, technology and user experience. To manage these three spheres, they make sure team members work together. They create a space for everyone (CEO, Engineers, Business Analysts, etc.) to voice their experiences or concerns. They know what needs working, how much time it will take and where they will be in the next 6 months. Product Managers represent the face of a company so they ensure their team focuses on key priorities and pushes them to deliver within a deadline. An effective Product Manager coordinates various departments, motivating them towards achieving a common goal and simultaneously taking the company to new heights.
Founders of startups often underestimate the value of a Product Manager and fail to hire one. This puts the future of a startup at risk. For long term success, it is critical to hire a Product Manager who ensures a startup flourishes and grows into a full-fledged company.