Why is effective decision making so challenging for your product managers?
Product Managers are responsible for the overall direction of the company, including its profit margin, product innovation and customer satisfaction – no pressure!
How do they juggle those to stay one step ahead of the competition?
Let’s look at the four main attributes you need in your PMs.
1. Product insight and customer empathy
The majority of a company’s development, its execution in the marketplace or even training will be spent on activities directed by the PM.
They need to empathise with the user, and fully understand their needs by referring to data, ideas, or feedback from a variety of sources. This enables them to deliver better and innovative products or services.
2. Action and execution
PMs have to make things happen; no amount of thinking will compensate for the lack of doing. A great PM will prioritise what gets done, and do the necessary ‘filling in the gaps’ work that’s vital to important decision-making.
For teams to be successful whether it’s sales, marketing or product management, everybody needs to be on the same page.
A great PM will be able to communicate their decisions and what they want clearly and repeatedly – even to the point of ‘over-communicating’ – until everyone understands without a doubt what needs to be done.
Good decision making depends on the team understanding their shared goals and responsibilities to those decisions.
The biggest test for any PM is the ability to be a good team leader. They have to inspire and motivate by communicating a bold vision and strategy.
A good leader establishes credibility by setting out a clear set of objectives, and sets out a blueprint of how these objectives will be achieved and executed to deliver products and services to the customer.
These overall attributes, combined with a sound positive attitude, will guarantee to make this kind of PM the best bet and hire for your business.