3 Most Important Skills For a Product Manager to Have
Product managers who are successful are organized, decisive, and able make informed decisions based upon research. They can divide features into should-have, should have, and could-have categories and use their knowledge about user behavior to take action. They make use of data and statistics to decide what features to include or exclude from the product. Although this process requires some guts, the best product managers are confident enough to mark features out of scope. As product managers, it is important to be able plan for testing and review.
Core skills are essential for this role. Product managers work with many different products and teams, so the skill set required for this position is broad. Product managers don’t necessarily have to be statisticians or mathematicians, but they do need to have a solid grasp of data. They must have excellent communication skills as well as a good understanding of how to collect and analyze data.
A product manager must also have the ability to prioritize the needs across multiple departments within a company. For example, the sales team may request an admin tool to update prices and a cross-product rewards program. The engineering team may be scrambling to deliver the feature on time. Active listening and communication skills are essential. Product managers must have the ability to motivate others.
Awareness of the organization
In order to make the right decisions, product managers need to be aware of the organization they’re working for. They need to be able to identify key decision-makers, and organizational awareness is essential to this. To get this information, they can use tools such as org charts or informal networks. These tools are extremely useful for making timely decision. These tools can be used to help product managers identify where information is coming form and who can supply it.
Organizational awareness is essential for any organisation. It develops as the organisation reacts to its external environment, changes, and reality. The Organisational Evolution Framework’s (OEF) dimensions are not the result a formal design effort. They emerge through a process called Emergence. Two entities of different levels can combine to form a new entity. This allows them to learn how to navigate through the different layers of their organisation.
An entrepreneur needs adaptability in his or her team. They must be able to quickly adapt to changes in the environment and challenge their problem-solving skills. People who are flexible will be positive and open to taking risks. They must be confident in their ideas and abilities, but also open to criticism and feedback. Overconfidence can cause them to overlook the complexity of the task, or not to take advice.
Product managers must be adaptable to succeed. Ernst & Young found that 93% of executives reported significant volatility in their industry. However, only 6% were satisfied with the level and quality of innovation within their organizations. It’s a known fact that businesses that are unable to adapt to changing environments can suffer the consequences. MySpace and Borders were both unable to adapt.