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How essential are domain expertise in managing a product?
Image courtesy: Fusion VenturesRecently I asked this question on my LinkedIn feed and yet to get a single reply. I have been pondering over it by myelf for some time. If you recollect the core product management skills preached around, those are hardly specific to a domain or industry.What has been your experience as a contributing product manager, or what have you seen in other product managers around?Like in sales, marketing, or accounting, are product management skills portable across domains and indutrries?Cheers,Ranjit
Well questions can vary from product to product, and it can vary based on the state of the startup at the time they approach a product Manager for consulting.
I think they would be interested in knowing answers to following questions & more:
1. How can you simplify the existing product flow or add value in the product for the existing customers
2. How can you help in customer retention - detailed plan
3. How you are going to help us scale the product - detailed plan
4. How can we approach the next thing we are planning to build - market fit, gap analysis, customer segmentation, strategy
5. How can we increase market penetration/share...
- Small startups don't need PMs at initial stage. Founders generally drive the roadmap well since they are close to the problem/solution landscape.
- When they hire, they would like the PM to be in house. PM is just too strategic and high involvement role to be left to a consultant. As for the budget, they can try to get the PM on a equity basis.
To answer the second part of your question, a small startup will look for someone who understands products and data analysis, knows how to do continuos MVPs and has great logical reasoning. Technical or domain background is a great positive too.