I love discovering features in products, features are what define a product, right? As a product manager, one has the important responsibility to shape a product by carefully filtering through the thousands of feature requests from various stakeholders.
However sometimes there is way too much focus on building a feature rich product, especially in the enterprise space. It becomes very easy to end up feature chasing instead of focussing on producing a valuable and usable product.
The three wise monkeys are a pictorial maxim. Together they embody “see no evil, speak no evil, hear no evil”. Twisting this a bit to product management, one can create a perfect recipe for Product Manager moron who:
Refuses to see the emerging trends, competition, change in market dynamics
Refuses to speak to stakeholders and keep them informed
Refuses to listen to explicit and tacit needs of customers
When it comes to “evil” – every human must try to emulate the wise monkeys. However when we speak of “products”, Product Managers must keep their ears and eyes wide open – pretty antithetical to what the above pictorial maxim denotes.
Purpose of business is profit. Profit that you make by selling your product or services to people / organizations you call customer. Customer pays you because they see value in your offering, they either make money or save money using your offering. I tweeted sometime back saying “profit is Proof of Purpose of product. do you make it?” (get this & more using #pmantra) – a business without a profit motive is social service and a product manager must understand that they are NOT in the business of doing something for no profit. Continue reading →