Hey PMs
Recently I was talking to a product manager who felt they were stuck on their current job. There was no path forward on how to progress and no clear leadership on helping the PMs grow.
In other words, they found themselves in an unempowered organization. There was no direction on where to take the product or what is expected of the PMs. As a PM, you are reading all these great articles and frameworks and listening to podcasts from PM leaders on social and yet, you cannot apply any of these.
In such a situation, you are in a dilemma.
Should you leave and go to a place where the grass is greener?
Navigating a B2B organization with a poor culture or bad management can be frustrating and demoralizing for any product manager. This article offers practical advice on how to make real progress and show your value, even when the environment around you isn’t ideal. By focusing on tasks like win-loss analysis or industry research, you can still make a positive impact and demonstrate your dedication. These activities not only provide valuable insights for your company but also help you build skills and knowledge that are crucial for your career growth.
So before you think of quitting, give this a try.
In my previous job, I was hired for a specific product area but I soon found out that it had not been funded. So I joined but there was nothing much to do. I languished on a couple of adjacent products for a while. But felt that I was not contributing. I thought I should leave.
But then I decided I wanted to at least show some progress and that I made some difference. At least I had to try.
So I started doing some strategic work. The first thing was to prepare a product strategy for one of the languishing products. I presented those to executives and management, and soon was able to fund a team.
And I continued to do things that went beyond what is expected of a typical PM role.
So what can you do in such a situation?
Here are some ideas on what you can try if feel stuck. At the very least you will just improve your own PM craft which will be handy for your next role.
Analyze a new product idea
Looking into a new product idea shows your creativity and initiative. Start by researching what your market or customer needs and where there are gaps. Create a proposal that outlines the benefits, who the product is for, and a basic cost-benefit analysis. Sharing this with your managers can show that you’re focused on growth and new opportunities. You can talk to sales people, look at support tickets, look at the trends in market for ideas. Use the business model canvas (BMC) to document your findings. Then present to your manager when the time is right.
Do industry analysis
Conducting an industry analysis helps you understand market trends and identify opportunities and challenges. Look at key players, new trends, and technological advancements in your industry. Summarize your findings in a report that highlights areas where your company can improve or innovate, especially where you might be losing sales or customers.
Do competitive analysis
Analyzing your competitors can provide insights into what they’re doing well and where they’re falling short. Compare their products, marketing strategies, and customer feedback with your own. Check out G2, Capterra, Trustradius and read what your competitors customers are saying about their products - both good and bad. Use this information to suggest improvements or new strategies for your company.
Win-loss analysis
Reviewing past deals can help you understand why you won or lost them. Analyze the factors that led to success or failure, such as pricing, product features, or sales tactics. Use these insights to refine your approach and increase your chances of winning future deals. Share the data with your sales leaders. They will more than appreciate your analysis.
Churn analysis
Understanding why customers leave is crucial for improving retention. Look at data to identify patterns or common reasons for churn. Develop strategies to address these issues, such as improving customer support or enhancing product features.
Usage analysis
Analyzing how customers use your product can reveal important insights. Identify which features are most popular and which are underused. Use this data to improve the product and make it more aligned with customer needs. Understanding how different customer segments use your product can provide valuable insights. Map out the various customer types and their usage patterns. Use this information to tailor your product and marketing strategies to better meet their needs.
Categorize Support tickets
Reviewing support tickets can highlight recurring problems or areas for improvement. Look for common issues and consider how to address them, either through product updates or better customer support resources. This can help reduce future support needs and improve customer satisfaction.
Study Onboarding and time to value
Assessing the onboarding process can help you ensure new customers quickly see the value in your product. Identify any hurdles that slow down this process and find ways to streamline it. Improving onboarding can lead to better customer retention and satisfaction.
Talk to customers
Regularly talking to customers helps you understand their needs and pain points. Ask them what they like about your product and what could be improved. Use this feedback to make informed decisions about product development and customer support.
Legal review of an upcoming change
When GDPR enforcement was announced, I took upon myself to study the law. I then crafted a product plan and was able to deliver on time. This gave me my CEO award. Think of what regulations is impacting your industry and your product. Conducting a legal review ensures your product complies with regulations and industry standards. Identify any potential legal risks and address them promptly. This can prevent future legal issues and build trust with your customers.
Research the Impact of newer tech
Staying updated on new technologies can help you keep your product competitive. Assess how emerging technologies could impact your product or industry. Consider integrating relevant advancements to enhance your product and stay ahead of the competition.
Conduct lunch and learn session on PM topics
Organizing lunch and learn sessions can foster a culture of continuous learning. Pick relevant topics that can help your team grow, such as new PM tools, techniques, or industry trends. These sessions encourage knowledge sharing and professional development within your team.
Conclusion
It's important to show progress and take initiative, even if you're feeling stuck. Consistently working on meaningful projects can help you build a strong record of accomplishments, making you valuable to your current company or attractive to new ones. Plus, proving that you can deliver results despite tough conditions shows that you're a capable and resilient PM. Taking these steps can enhance your professional reputation and open up new opportunities, ensuring that you continue to grow and succeed in your career, regardless of the challenges you face within your organization.
Do you need permission to do these things?
Maybe. Maybe not. It depends on your company’s context.
Some managers will be delighted at your proactive stance and encourage. Some might outright discourage. Most will be neutral, provided your existing work is not impacted.
Pick one thing which you believe you can do and get started. Don’t quit just yet.
By the way, even if you are in an empowered PM organization, you should still do most of these. That will make you a complete product manager.
Here are some related articles to get you started.
Churn Analysis Competitive Analysis
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Excellent advice. Bonus point if you pick activities you can do of your own accord; aka without needing help from the dev team for example. No excuses.
Love this! Can also sit in on or facilitate customer success, sales and user research calls