part of it is bringing people together.
by jody padar
from success to significance: the radical cpa guide
if we are going to be acting like product managers, we really need to know what they do. the best place to start is defining product management.
more on radicalism: productized 1099s the new vision way | how to develop productized services | firm product management is the way to the future | 10 steps to start innovating | the value of new ideas
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according to steven haines’ book “the product manager’s survival guide,” product management refers to the holistic management of products and portfolios – from the time they are conceived to the time they are discontinued and withdrawn from the market. in essence, it’s the business management of products. product management can also refer to the organization that serves to lead and integrate the work of people from other functions.
that said, a product manager is a person appointed to be the proactive manager of a product or a product line. they resemble a ceo or a general manager because these people are best equipped to guide organizations and lead cross-functional product teams.
this is why smaller firms can productize their service line offerings much faster than the larger firms. their teams are smaller and their partners come to the table with the mindset of acting liking a startup cpa firm. their partners take on the ceo role, instead of being stuck in the position of focusing on billable hours or technical work. they run their firms like a business, not like traditional professional services firm partnerships.
many cpas have functional mindsets and will have to recondition themselves to work in this new way.
i find it exciting.
and no, not everyone needs to be a product manager or have that set of skills. but i bet someone from your team is just plumb perfect for the position.
monster.com product manager job description
product manager skills and qualifications:
- product management
- people management
- product development
- understanding the customer
- requirements analysis
- competitive analysis
- pricing
- planning
- sales planning
- financial planning and strategy
- inventory control
product manager job responsibilities:
- develops products by identifying potential products
- conducts market research
- generates product requirements
- determines specifications, production timetables, pricing and time-integrated plans for product introduction
- develops marketing strategies
product manager job duties:
- determines customers’ needs and desires by specifying the research needed to obtain market information
- recommends the nature and scope of present and future product lines by reviewing product specifications and requirements; appraises new product ideas and/or product or packaging changes
- assesses market competition by comparing the company’s product to competitors’ products
- provides source data for product line communications by defining product marketing communication objectives
- obtains product market share by working with sales director to develop product sales strategies
- assesses product market data by calling on customers with field salespeople and evaluating sales call results
- provides information for management by preparing short-term and long-term product sales forecasts and special reports and analyses; answers questions and requests
- facilitates inventory turnover and product availability by reviewing and adjusting inventory levels and production schedules
- brings new products to market by analyzing proposed product requirements and product development programs, preparing return on investment analyses, and establishing time schedules with engineering and manufacturing
- introduces and markets new products by developing time-integrated plans with sales, advertising and production
- determines product pricing by utilizing market research data, reviewing production and sales costs, anticipating volume, and costing special and customized orders
- completes operational requirements by scheduling and assigning employees; follows up on work results
- maintains product management staff by recruiting, selecting, orienting and training employees
- maintains product management staff job results by counseling and disciplining employees, planning, monitoring and appraising job results
- maintains professional and technical knowledge by attending educational workshops, reviewing professional publications, establishing personal networks and participating in professional societies
- contributes to team effort by accomplishing related results as needed
to be successful in product management, you need a variety of skills.
you must have the ability to look up and down and across the organization to build a cross-functional mindset within your culture. no one will become the perfect product manager overnight; however, if you can follow this blueprint you’ll have a running start. your success will be built on how fast you get up off the ground to achieve early noticeable wins.
a product manager works across the whole organization. firms today, as well as many large businesses, are still so siloed in their approaches. this person figures out the way for them to work together toward a common product or solution. if the product manager is successful, there will most likely be a strong financial return – which as you know, makes everyone look good!