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Before venturing into something unknown, it’s natural to thoroughly research a problem or a task to reduce risks and increase success chances.

The product management field is no walk in the park, so aspiring product managers are eager to understand the ins and outs of the role before taking the plunge. They would like to understand this dynamic role from every angle to benefit from this research later.

In this edition, we’ve tapped into the wisdom of seasoned professionals as we explore the easier and more challenging aspects of their roles. For those considering a career in product management, this article sheds light on what awaits one as a PM.

Careers in product management require a significant amount of hands-on experience, which presents a unique challenge for those hoping to enter the field. It’s a catch-22: new hires need experience in order to land a role managing products, but may not be able to get that experience without actually doing so.

One potential solution for aspiring product managers is to launch a side project. Commonly referred to as “pet projects” within the software development community, these independent ventures can present valuable opportunities for aspiring PMs–but they also come with their own set of complexities.

Most products are bound to evolve over time, but not every new addition translates into value for the user. 

New features may encourage growth in one customer segment while alienating another. This tension is common within the field of product management, and striking the right balance between innovation and simplicity is a crucial skill for product managers to learn.

To avoid adding unnecessary features to their products, PMs should take a multi-pronged approach. Firstly, the development of a solid product strategy can prevent individual stakeholders from exerting unearned influence on a product’s roadmap. Secondly, smart prioritization and development processes can ensure that product managers are focusing on the right inputs while taking the guesswork out of decision-making. Lastly, product managers can leverage different types of data at each point in the customer lifecycle to ensure that their efforts are serving customers effectively (and are primed to do so in the future).

Entering the product management field can be challenging, but growing as a professional within it is equally demanding. Yet some people manage to navigate the growth faster than others.

What separates them?

When starting to work on a new product, some less experienced product managers might be too eager to prove themselves. They want to set the tone and course for everyone involved in the process of building and shipping the product.

But a seasoned PM understands the importance of drawing on the knowledge of those already familiar with the product. Within an organization, each team offers a distinct viewpoint based on its expertise.

So you want to pursue a career in product management—great! However, the product manager job posts you’ve come across list having product management experience—not great! Don’t worry! Here’s some guidance on how you can start your product management journey.

Comparing your product’s growth metrics with those of your competitors is an essential tool for measuring progress, spotting your position in the market, and identifying areas for improvement. However, this method comes with some caveats.

One of the biggest pitfalls of comparing metrics is the potential for misleading results. Even products that are in the same category can have different mechanisms working behind their metrics, making direct comparisons difficult.

The key is to go beyond metrics and focus on the processes that they represent. Only after having a clear understanding of the problem that your product and your competitor are solving can you start determining which metrics (if any) are suitable to compare their performance.

One of the concepts that is crucial to product work is compound interest and exponential growth. This is a topic that has been adopted from other fields of natural and social sciences into product management. It is crucial in tracking, measuring, and forecasting product growth loops. Understanding compound interest and exponential growth can help you identify growth opportunities, make correct decisions and avoid the pitfalls of product growth.

In this article, we will discuss the basics of compound interest and exponential growth and how it applies to product management.

Considering a move from product analytics to product management? It’s a natural progression that reflects the desire to expand beyond data analysis and strategic recommendations into actively guiding the product development journey. This move combines analytical expertise with creativity to transform imaginative ideas into concrete, market-ready products.

As product managers, we regularly use percentages in different ways to measure different metrics. But despite their intuitive simplicity, percentages have different nuances that can make them confusing or misleading if used improperly.

In this article, we’ll discuss percentages, percentage points, and percentiles, along with their uses in product management along with best practices and pitfalls to avoid.