PM Hack Panel Notes

Two weeks ago, I got to go PM Hack for a hot second, a hackathon for PMs and aspiring PMs put together by Jason Shen and Johanna Beyenbach and hosted by Wayup. I’m really bummed I actually only got to stay for maybe half the day because my actual PM job called me in on a Sunday, but it was definitely unique and one of the cooler initiatives I’ve seen to get people’s hands dirty on Product Management work. In a previous life, I’ve gone to hackathons as a developer, and there is something really inspiring, educational, and rewarding about working with a group of strangers to create something workable in a matter of hours or days.

One thing I did get to stay for an enjoy was a panel by some esteemed folks in the business so to speak – so I thought I’d put down my notes here to keep top of mind:

pmhackpanel.jpg

Some awesome Product Managers: Elan Miller (Midnight), Inga Chen (Squarespace), Lauren Ulmer (Dormify), and Joan Huang (Flatiron Health)

  • Emotional intelligence > IQ in PM roles
  • You need to understand yourself and your vision first
  • Constant tension at work between tending to firedrills v longer range thinking -> one key to working on this is working internal marketing for buy-in on longer term strategy
  • Good pms are always obsessing or communicating and good listening
  • Status update at right level of context – know how to communicate to junior level devs to executives
  • Saying no is a part of your job
  • Your job is to also bring the team and org together
  • Be cognizant of what step of the product life cycle are you able to work in and think about what is possible to change and is it possible
  • Team Cultures (build it out) + Users (joy)
  • Managing different dependencies across teams is key
  • Your job is to also define and interpret metrics correctly
  • The bigger the org the more stakeholder communication versus direct time to users
  • Be careful not to over optimize for the negative vocal batch of users versus the majority of users
  • As with everything, it’s right place right time with right skill set so you gotta angle to make to happen
  • GV Design Sprint can be a useful problem solving process
  • When you’re interviewing for a PM job: communicate you know a company’s business when you interview :
    • Mini deck to intro yourself, how you can solve company’s problem, and show you’ve done your hw and are more than your resume
    • Understand levers to business model (how does business makes money)
    • Apply to fewer jobs and make sure you’re interested in problems the product is trying to solve
    • Find side projects outside of your typical product development life cycle
    • Treat yourself as a product
    • Having a POV and being polarizing can be an advantage
    • Remember you can help them with particular problem you’re trying to solve even if you aren’t from that vertical – you could be bringing a fresh perspective to their problems
Advertisements

Oct Learning

Just my “three key points” notes from various reading I thought was work helpful this month:

PSFK Advertising Playbook Overview

  1. Experiential marketing now is the most critical tool
  2. Shift from ads to customer relationships and decline of online ads
  3. Emotional connections realign brands -> engineered enjoyment, contextual calibration, and third space communities are opportunities

 

Knowns vs Unknowns — Are you building a successful company or just typing?

  1. First known unknown is that you envision a product that solves a problem that a small group of users have
  2. Engineer’s primary job isn’t really writing code per se, but improving product for you users
  3. “What I often hear from CEOs is that “my CTO thinks we need to rebuild the backend so it’s scaleable.” The reality is that if you haven’t yet solved for the product’s scaleable and repeatable growth, you don’t know what the backend needs to be. If you’ve hired people that care more about the programming languages/frameworks and not the KPIs of your product, you’ll constantly have this internal battle. Remind them that writing software is the easy part. Building a company that scales isn’t.”

6 lessons learned about technical debts management in Silicon Valley

  1. Product always needs to be improved and have tech debts happening at once (80/20 rule)
  2. Top Down vision on the importance of these debts “It is not about the money you can make, it is about the money you won’t lose”
  3. Before you kill features, identify who are using it, find an alternative, and explain why you are killing a feature

IGNORE EVERYTHING BETWEEN THE CLOUDS AND DIRT

  • “This is because the vast majority of people tend to play the middle—they focus on the vague minutiae that doesn’t matter”
  • Two things happen when you’re too focused on the middle:
    • You’re only successful to a certain level and then hit a plateau
    • You get stuck in one of two extremes: you get stuck either because you become too romantic on ideals and neglect the skills you need to execute or you get tied up in minutiae or politics and lose sight of the bigger picture.

Unit Economics

  1. “Unit economics are the direct revenues and costs associated with a particular business model expressed on a per unit basis.” Eg Lifetime Value, Customer Acquisition Cost (CPA)
  2. What you want to do as a product manager is increase average rev per user (ARPU), increase customer lifetime, and drive expansion revenue from existing cusotmers
  3. Make sure you know what your most profitable segment is and what their composite is of the user base

pm@olin: Buildiing (Class 5)

  1. Understand your personal work and productivity style
  2. Understand the style of your team and tailor your project management to the team – being cognizant of your personal style
  3. Understand your software processes (eg. Waterfall or Agile) and bug triage

Offshore Development: Pluses and Minuses for Product Managers

  1. Hard part is to learn and understand the team and learn what makes them tick and how you can leverage all this and control for issues such as different work cultures and different accents over conference phones
  2. Get to know them and make sure they know you
  3. Keep them informed, establish routines (especially communicating with remote team lead and holding them accountable, hold all-team meetings semi-frequently), and leverage tools

How we develop great PM / Engineering relationships at Asana

  1. Semi-formalized way for sharing leadership and credit
  2. Remember mantra product owns the problems and engineering owns solutions
  3. ‘Clarify roles and reinforce them with mutual respect’