There are several traits of a great product manager. Product managers should have a designated role in the company where they work. This role can include things like data research, design, development, marketing, and sales. There are three broad categories of competencies that make a good product manager.
First, a product manager needs to have specific core competencies. We can develop some in a classroom, but others need experience, role models, and mentoring. The core competencies include performing customer interviews, prioritizing needs, allocating resources, performing market assessments. In addition, product managers require technical skills. Besides revenue, pricing, modeling, experience/knowledge, product managers should be able to define and track success metrics.
Secondly, a good product manager may excel in the aforementioned skills, yet not have significant relational skills. Because a product manager must interact with people, trustworthy and authentic relationships must be forged with both external and internal stakeholders. Successful negotiation, working with others, and resolving conflicts are necessary parts of product management.
Next, a good product manager should be self-aware. Self-awareness is critical because a product manager needs to stay objective and avoid pushing his/her preferences toward his/her product users. Related to this self-awareness trait is self-management. A product manager’s job can be stressful because of the need to balance product requirements, tight deadlines, market demands, resource constraints, and customer desires. A product manager must be able to maintain his/her emotions and work well under pressure.
Additionally, a product manager needs to be a good salesperson. He/she needs to understand the concerns and emotions of the customer and know how to work with other company teams to support these concerns. For instance, the product manager tries to satisfy the customer while working within company constraints. These restraints include allocated capital, proper staffing, and organizational rules and regulations. Being a good salesperson considers these, too.
A product manager should be a good company fit. Because a product manager possesses the skills mentioned above does not mean they will be successful. A potential product manager should take his/her skills and personality and find the right company with which to work. A marriage between skills and the right company will guarantee success.