Excerpted from Anatomy of a Product Leader.
In an environment characterized by rapid change and increasing prominence for digital, the most successful and effective companies have strong product leadership — either a product-oriented CEO or a product leader — serving as a single point of accountability for even the smallest decisions about the product and the product experience. The most successful of these leaders have several core traits in common:
Passion for the product. The most successful product leaders are passionate about their products and all the details of the product experience. They have an emotional connection to the product and constantly strive toward perfection. The best product leaders are always “on”: As one former chief product officer explained, “You have to live this stuff. Love it,” he says. “It’s something you do when you’re free: Playing with new things you find, friends recommend or competition releases. You are constantly searching, brainstorming, critiquing, admiring and creating.”
Broad functional knowledge and organizational understanding. As the definition of product has expanded to include the entire user experience around the product, the product manager has to have broad functional knowledge and influence to shape product decisions. The best is a jack of all trades, who understands the technical details, the customer issues and the industry trends, and can work with the sales force.
A strong product point of view. One of the most challenging aspects of a product leader’s job — and one that is getting harder — is deciding which of the many ideas bouncing around the organization to invest in and which to discard or delay. Product leaders need great judgment and must be able to ruthlessly redact the product to its core values, according a venture capitalist. The most successful product managers seem to have the ability to see 12 or 18 months in the future and evaluate products with that lens. Then, just as important, they act on that insight: launching new products, making adjustments and updating quickly, frequently and effectively.
General understanding of technology. Great product leaders tend to have a technical background. The degree of technical knowledge that a product leader needs tends to vary depending on how technical the product is. However, technical depth can be a tremendous asset; those who understand the technical underpinnings of the product, how elements work together and the engineering tradeoffs that may have to be made not only can make better decisions about the product but also tend to be able to work more effectively with lead engineers and their teams.
Ability to pick and lead great talent. Great product leaders build high-functioning teams and surround themselves with exceptional talent in key disciplines, from engineering to project management, user experience and marketing.
Do the necessary product leader skill-sets differ between a large, mature organization and a startup? In some areas, yes: a large mature company requires skills related to navigating a complex organization. The product leader of a startup, meanwhile, has more flexibility to innovate. Still, the basic orientation of product leaders is largely the same. “Product leaders may need to prioritize differently at different stages of development, but the core capabilities are the same,” according to one former product leader. “They’re entrepreneurial at heart, think big and want to make their product great because they’re passionate about it. That kind of person does well at both ends of the cycle.”
Learn more about how the rise of digital has generated increased demand for leaders with product experience.