2 things that Product Managers (PM) should learn about: 1. Managerial output = output of a PM’s team + output of other teams that PM influences 2. Managerial leverage: amount of product/outcome created per unit of time within the PM’s effect
Summary: - PMs have their highest leverage activities through vision (the aspiration behind the hard work) and strategy (the path PM draws for the team to achieve the vision). The rest is optimization. - The best way to test if a PM is good at her/his job is to ask her/his team to describe the team’s vision and strategy for their product. - Vision is used to set the end state of a team’s work or product. It’s crucial for PMs to keep in mind that the vision they create must fit into the bounds of the vision of the company. - A good strategy shouldn’t be like a roadmap. A good strategy should be able to answer the questions of what the team is building, why and who the team is targeting to impact. - PMs should ask themselves: - Am I doing the highest leverage work I can? - Did I give the right foundation to my team so that I can operate sufficiently?