Why your next CEO should be a Product Manager
Why your next CEO should be a Product Manager.
Product management is a critical function in the technology industry and has proven to be a great launching pad for executives to become successful CEOs. The skills and responsibilities of a product manager are closely aligned with those required for a CEO, making them ideal candidates for the position. Many folks consider a product manger the CEO of their product.
In this article, we will explore why product managers make great CEOs, the skills that product managers need to have that align with the responsibilities of a CEO, and how the economics of running a successful product align with running a successful business.
Let's take a closer look at some of the key reasons why product managers make great candidates for the top leadership position.
Customer Focus
One of the most important responsibilities of a CEO is to create and execute a strategy that delivers value to customers. Product managers are experts at understanding customer needs, market trends, and how to build products that meet those needs. This customer-centric approach can be applied to all aspects of a business, from product development to marketing to customer support.
If a product manager is developing a new product or feature, they will be focused on ensuring that the product meets the needs of the target market. This involves understanding customer pain points and designing the product to address those needs. Product managers are familiar with customer empathy and customer journey maps to build an intimate understanding of their end user. Similarly, as a CEO, the product manager will take a customer-focused approach to all aspects of the business, ensuring that the company delivers value to its customers.
Go-to-Market Strategy
Product managers are also experts at developing and executing go-to-market strategies. They have a deep understanding of the market and are able to identify the best channels and tactics for reaching target customers. This skill is essential for a CEO, who needs to ensure that the company's products and services are reaching the right audience.
Product managers in the digital age are equipped to bring new features to market consistently. They are used to interpreting real-time feedback and adjusting their roadmap to accommodate an ever-changing market. This give valuable insight that would be invaluable in the C-suite
ROI Focus
Product managers are acutely aware of the economic impact of their decisions. They are focused on delivering products that generate a return on investment (ROI) for the company. This focus on ROI can be applied to all aspects of the business, from marketing to operations to finance.
Product managers focus on identifying the products that generate the highest ROI and optimizing marketing spend to drive revenue. They understand the cost of doing something, but often more importantly, the cost on NOT doing something. Similarly, as a CEO, the product manager will use their ROI focus to make decisions that drive profitability and long-term growth.
Cross-Functional Leadership
Product managers are skilled at collaborating with cross-functional teams to bring a product to market. They work with designers, developers, marketers, and other stakeholders to ensure that the product meets the needs of customers and the business. This skill is essential for a CEO, who needs to lead cross-functional teams to execute the company's strategy.
It is the first skill product owners and managers must have. The ability to lead cross functional teams to achieve a common goal. Interests and inputs from engineers, designers, quality assurance and stakeholders need to be considered. Being able to manage the many skillsets involved in delivering digital solutions make the product manager an excellent communicator as well.
At the end of the day, the creation, develop and ongoing support of a successful product is very similar to running a micro business. Product managers have a range of skills and experiences that align with the responsibilities of a CEO. They are customer-focused, skilled at developing and executing go-to-market strategies, focused on ROI, and effective cross-functional leaders. These skills, combined with a deep understanding of the economics of running a successful product, make product managers excellent candidates for the top leadership position in any organization.
