five critical strategies to succeed in your product management career

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Today’s Speaker

Presenter:

Brian LawleyCEO & Founder@hmdelcastillo@[email protected]+1.408.834-7518

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© 2013-2014 280 Group LLC. 6

SPECIAL REPORT:The Five Critical Strategies to SucceedinYour Product Management Career

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What you want out of this webinar

Not included today (will be in the future)- Best practices in Product Management- Increase importance of PM at your Company- How to influence engineering

TODAYS TOPIC:Product Management Career Acceleration

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© 2013-2014 280 Group LLC. 8

Poll (answer in polling box)

What’s your title?- Associate Product Manager- Product Manager- Senior Product Manager- Product Line Manager- Director of Product Management- Vice President of Product Management- Engineer- CXO

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© 2013-2014 280 Group LLC.

Researched and Produced By…

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© 2013-2014 280 Group LLC.

Why We Commissioned StudyWorked with thousands of Product Managers

No comprehensive study or data

Further profession

Help others be successful

10www.aipmm.com

© 2013-2014 280 Group LLC.

About the Study>25 research studies and reports

Millions of dollars of research

Hundreds of hours

11

We are pleased to share thisinformative study with you!

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© 2013-2014 280 Group LLC.

Areas CoveredAbout Brian & the 280 Group

Rise of Product Management

Five sins that cause miserable failure

Five critical strategies for massive success

Creating your own custom plan

Questions & Answers

Giveaway!

12www.aipmm.com

© 2013-2014 280 Group LLC.

Brian Lawley: CEO & Founder

13

Thought Leadership in ProductManagement Award

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© 2013-2014 280 Group LLC.

The 280 Group: Silicon Valley Innovation

14www.aipmm.com

© 2013-2014 280 Group LLC.

Mission

15

We transform organizations andindividuals to perform highlyeffective Product Managementbased on our innovative and easilyadopted Optimal Product Process™framework.

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© 2013-2014 280 Group LLC.

Optimal Product Process™

>200 years experience

Any development methodology

Flexible & customizable

Strategic/Tactical

All companies

Any industry

16

Approval to fundbusiness planning

Approval to funddevelopment

Product readyfor field testing

Product andorganization ready

On-goingmarketing ready

New version orretire completely

Marketing Plan End of Life PlanLaunch Plan

Beta Plan

Market Strategy Document

Roadmap Document

Product Description Document

Market Needs Document

Business Case Document

PM + Engineering (Agile, Hybrid,Waterfall)

PlanConceive QualifyRun Beta/Pilotprogram

Write launchplan

Release product,gather feedback

Write marketingplan

Discoveropportunities

Develop Launch Maximize

Validate product/market fit

Create roadmapand strategy

Solidify businessplans

Solidifydevelop plans

Write beta plan Support sales

CommunicateEOL

Retire

Plan sunsetor replacement

Performpost mortem

Deliver finaldocuments

Plan EOL andnext release

Develop preliminarydocuments

Perform postmortem

Test messagingand positioning

Finalfeature list

Run/monitormarketing

Phases andActivities

Exit Criteria

MarketingProduct

ProductManagement

EXECUTIONSTRATEGYThe OPP framework is completely customizable andflexible, making it easily adopted by any companyregardless of size, maturity, or development methodology.

Development – Agile, Hybrid,WaterfallDocumentation – None, Lightweight, FormalMaturity – Startup, Small/Medium, Enterprise

Optimal Product Process™ (OPP)

Optimal Product Process Methodology © 280 Group, 2011-2014Source: Conceive to Retire from AIPMM Product Management Body of Knowledge® (ProdBOK®)

Optimizing Product Management™

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© 2013-2014 280 Group LLC. 17

Complete solutionsto make you a greatProduct Managerand advance yourcareer in everyphase

© 2013-2014 280 Group LLC.

One: The Rise of Product Management

18www.aipmm.com

© 2013-2014 280 Group LLC.

Poll (type answer in chat box)

19

How and when did ProductManagement come to be?

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Product Management is Now Mandatory

1931 1980’s and 1990’s

20

Today

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© 2013-2014 280 Group LLC.Source: CBS News 2013 poll of corporate executives

Fourth MOST Important in Corporate America

1. CEO2. Senior Executives3. General Manager4. Product Manager

21© 2013-2014 280 Group LLC. www.aipmm.com

© 2013-2014 280 Group LLC. 22

Critical For Time to Market

22Source: 2009, Aegis Resources Inc.

Companies that empower productmanagers are 50% faster to market!


© 2013-2014 280 Group LLC. 23

Executives Highly Influenced

Source: 2012 Team Performance Survey, Actuation

58% of PM’s work directly withCEO, CMO, CFO and VP Sales


© 2013-2014 280 Group LLC. 24

CEO’s Demand PM Report Directly

Source: 2012 Pragmatic Marketing Survey

30% of CEOs have Product ManagementOrganizations reporting directly to them


© 2013-2014 280 Group LLC. 25

PM Present in All Company Sizes

Source: Salary.com 2013 25© 2013-2014 280 Group LLC.

18%

24%

15%

18%

5%

15%

5%

Product Management By Company Size

<100

100-500

500-1k

1k-7.5k

7.5k-15k

15k-50k

50k+

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© 2013-2014 280 Group LLC. 26

PM Present Across In All Industries

Source: Salary.com 2013 26© 2013-2014 280 Group LLC.

15%

13%12%

8%

7%

Product Management by Industry

MFG Durable

Retail & Wholesale

Software & Networking

MFG Nondurable

Healthcare

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© 2013-2014 280 Group LLC. 27

Your Competition is Very Experienced

27Source: Salary.com 2013

67% of PM’s have >5 Years Experience© 2013-2014 280 Group LLC.

12%

21%

32%

22%

13%

Zero to One

Two to Five

Five to Ten

Ten to Fifteen

Fifteen+

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© 2013-2014 280 Group LLC. 28

Your Competition is Well-Educated

28Source: Salary.com 2013

>50% of PM’s have Master’s Degrees

© 2013-2014 280 Group LLC.

1%

3%4%

39%52%

1%

No diploma

High School

Associate's/Certificate

Bachelor's

Master's

Doctorate

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© 2013-2014 280 Group LLC.

PM Pays Well – up to $210k

Source: Salary.com 2013 29www.aipmm.com

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PM Ranked as Top Job

Source: Money Magazine 30www.aipmm.com

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PM Well-Positioned To Become Executives

31

PM

Sales

Customers

Support

Channel

Operations

Executives

Partners

Engineering

Marketing

Press/Analysts

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PM to CEO

32Steve Ballmer: Microsoft

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PM to CEO

33Marissa Mayer: Google/Yahoo

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PM to CEO

34Scott Cook: Intuit

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Apple and Product Management

35

Apple: Steve2

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Mike Markkula: The ORIGINAL Apple PM

36www.aipmm.com

© 2013-2014 280 Group LLC. 37

Proctor & Gamble Requires PM

Source: Gale Group

The last seven CEOs havebeen former product managers


© 2013-2014 280 Group LLC.Source: LinkedIn 2013

Huge Opportunity – Massive Job Openings

LinkedIn Job Openings:• 4k Product Managers• 5.5k Directors• 1k Vice Presidents>10k!


© 2013-2014 280 Group LLC. 39

Can be a VERY Rewarding Job

Source: 280 Group Poll – 30k members 2013

66% of Product Managers motivated by “DeliveringGreat Products” and “Driving a Vision”


© 2013-2014 280 Group LLC.

PM Rising: What You Have Learned

• Product Management is rising

• More important than ever

• Great career path

• Huge opportunity

40www.aipmm.com

© 2013-2014 280 Group LLC.

What stops people from rising inProduct Management quickly?


© 2013-2014 280 Group LLC.

Two: 5 Deadly Sins That Will Kill Your Career

42www.aipmm.com

© 2013-2014 280 Group LLC.

Sin #1: No One Understands What You Do

Varies dramatically in each company

Overlap/confusion with other roles

Result: PM’s perceived value lower


© 2013-2014 280 Group LLC. 44

75% of Companies Don’t Understand PM

Source: 280 Group 2013 survey 44© 2013-2014 280 Group LLC. www.aipmm.com

© 2013-2014 280 Group LLC.Source: Pragmatic Marketing 2012 survey

Over 100 Different Titles for PM

Surveys show over 100 differentjob titles used for jobs with ProductManagement responsibilities


© 2013-2014 280 Group LLC. 46

Almost Half Of Companies Poorly-Defined PM

Source: Team Performance Survey, Actuation

Well-defined Not well-defined or no PM

48%!


© 2013-2014 280 Group LLC.

The Result?

You don’t get rewarded for allof your excellent hard work!

47X

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© 2013-2014 280 Group LLC.

Sin #2: PM’s Not As Effective As They Could Be

Learning occurs on the job

Average PM overloaded

Lack of tools & infrastructure

No coaching/mentoring

48www.aipmm.com

© 2013-2014 280 Group LLC.

Poll (answer in chat box)

What percent of Product Managershave received training?

49www.aipmm.com

© 2013-2014 280 Group LLC.

Almost None

<2%!Source: Published Training Numbers 50www.aipmm.com

© 2013-2014 280 Group LLC.

Most PMs Have To Learn On The Job

Few companies with in-house training programs

Varied backgrounds and no training = varied results

If lucky you have a coach or Mentor

51www.aipmm.com

© 2013-2014 280 Group LLC.

Average PM Overloaded

>50% asked to do more with less

# products managed up to 3.3

78% work weekends (6 hours avg.)

Sources; 2010 Bakbone Product ManagementSurvey, Quantumwhisper 2009 PM survey 52www.aipmm.com

© 2013-2014 280 Group LLC.Source: Quantum Whisper 2009 PM survey

Lack Of PM Tools & Infrastructure

Poor or no process (30% don’t know)

Companies have not optimized PM department

No standardized document templates

Lack of access to data

No knowledge base


© 2013-2014 280 Group LLC.Source: Marketing Sherpa

Few PM Mentors & Coaches

Few, if lucky, will be mentored

73% have no coachEven lower for Product Managers


© 2013-2014 280 Group LLC.

Sin #3: Tactical, Not strategic

Most Product Managers underwaterToo overwhelmed/busy to be a strategic leaderWhat suffers:- Effectiveness- Career advancement- Job satisfaction

55www.aipmm.com

© 2013-2014 280 Group LLC. 56

Few Leaders Both Strategic And Tactical

56Source: Chet Holmes

<3%!© 2013-2014 280 Group LLC. www.aipmm.com

© 2013-2014 280 Group LLC.

Sin #4 - No Formal Career Plan

57

Career path not defined

Companies don’t take responsibility

PM’s must create this themselves

Those who do thrive

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© 2013-2014 280 Group LLC. 58

You Are on Your Own For Career Success

Source: Individual Growth Strategies, 1995

“Employers are increasingly unwilling to promise andformally manage career opportunities.

HR policies are shifting accountability for careermanagement from employer to employee.”


© 2013-2014 280 Group LLC.Source: 2013 Gallup State of the workplace study

Sin #5: PM Not As Enjoyable As It Could Be

Making a real difference

Being effective

Getting credit

Vicious cycle affects performance

Bad attitude and become jaded


© 2013-2014 280 Group LLC.

Case Study: A Jaded PM

60www.aipmm.com

© 2013-2014 280 Group LLC.

Five Sins: What You Have Learned

Job not well understood

Not as effective as you could be

Tactical not strategic

No formal career plan

Not as enjoyable

61www.aipmm.com

© 2013-2014 280 Group LLC. 62

What can YOU do to rise

QUICKLY?

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© 2013-2014 280 Group LLC.

Three: Five Strategies for Massive Success

63www.aipmm.com

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Case Study: Rapid Rise from PM to VP

Individual product manager

MBA from prestigious school

Created specific, aggressive planApplied the five strategies

Within 4 years VP of Marketing

64www.aipmm.com

© 2013-2014 280 Group LLC.

Strategy 1: Evangelize your role

Getting clarity on your role and non role

Buy in from your boss (and team)

Communicate over and over

65www.aipmm.com

© 2013-2014 280 Group LLC. 6666Source: Avinandan Mukherjee, School of Business, Montclair State University

“Research findings indicate that roleclarity influences job satisfaction and

organizational commitment”


© 2013-2014 280 Group LLC. 6767Source: Steven Bray, University of Lethbridge

“Individuals who reported higher role clarityalso reported higher role effectiveness and

performed better than those with lower clarity”


© 2013-2014 280 Group LLC.

Strategy 2: Become MUCH More Effective

Templates

Productivity strategies

Prioritization techniques

Learn to say “No”

Find some help

68www.aipmm.com

© 2013-2014 280 Group LLC.

Case Study: Writing an MRD

PM at Symantec

Writing Market Requirements Document (MRD)

Spent several hours tracking down old ones

Looked for standard template

Had to create from scratch

69

Result: Hours of wasted time, document that isn’t effective

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© 2013-2014 280 Group LLC.

Strategy 3: Create A Winning Career Plan

How many people here have awritten career plan?

70

Poll: Choose from options• Yes• No• Sort Of

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© 2013-2014 280 Group LLC.

Plans and Goals are Critical to Succeed

Famous study

3% of graduates earn 10X as much as other 97%

Those 3% had clear, written goals

71www.aipmm.com

© 2013-2014 280 Group LLC.

Elements of an Effective Career Plan

Goals

Skills development

Five most important allies

Coaches & Mentors

Differentiation

72www.aipmm.com

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Strategy 4: Get Training

Annual commitment

Foundational course to start – full lifecycle

Soft skills

Agile if appropriate

Advanced courses- Leadership- Certifications

73www.aipmm.com

© 2013-2014 280 Group LLC.Source: Accenture Training ROI study

Training Delivers Measurable Results

17% more productive

20% higher performance levels relative to peers

ROI is 353%


© 2013-2014 280 Group LLC.

Training Isn’t a One-Time Event

75

Lee Bill Marissa

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© 2013-2014 280 Group LLC.

Case in Point One: Lee

Moves into Product Management

Learns on the job

Becomes somewhat proficient

Individual contributor for many years

8-10 years might become a manager

76www.aipmm.com

© 2013-2014 280 Group LLC.

Case in Point Two: Bill

Moves into Product Management

Takes a foundation PM course

Immediately proficient

Continues to learn on the job

Promoted to Manager after 6 years

77www.aipmm.com

© 2013-2014 280 Group LLC.

Case in Point Three: MarissaMoves into Product Management

Takes foundation course

Continues to learn on the job

Takes advanced courses

Earns certifications

Finds a coach/mentor

Manager at 4 years

VP at 7 years

78www.aipmm.com

© 2013-2014 280 Group LLC.

Who Do You Want To Be?

79

Lee Bill Marissa

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© 2013-2014 280 Group LLC.

Strategy 5: Get a Coach

Avoid career-ending mistakes

Get advice on how to excel

Accelerate your career

80www.aipmm.com

© 2013-2014 280 Group LLC. 81

Coaching Market Growing Massively

81Source: MarketData Report

“The $2.4 billion business coachingmarket is growing at about 18% per year”


© 2013-2014 280 Group LLC. 82

87% HR Managers: Coaching Value High

82Source: Marketing Sherpa Coaching Study© 2013-2014 280 Group LLC.

87%

11%

2%

Very HighSomewhat highLow

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© 2013-2014 280 Group LLC.Source: Innergized Solutions

Coaching Has Huge Benefits

67% Increase in Teamwork71% Increase in Relationships with Supervisors61% Increase in Job Satisfaction52% Reduction in Conflict


© 2013-2014 280 Group LLC.

Five Strategies: What you have learned

Evangelize

Effectiveness

Career Plan

Training

Coach

86www.aipmm.com

© 2013-2014 280 Group LLC.

How to Craft Your Custom Plan

Create your career plan

Find a coach or mentor

Commit to ongoing training

Arm yourself with productivity & learning tools

89www.aipmm.com

© 2013-2014 280 Group LLC.

Criteria for an Excellent Coach

Extensive experience

Help clarify & evangelize your role

Assistance building career plan

Harvard study – you want to be 3%

Achieved what you want

91www.aipmm.com

© 2013-2014 280 Group LLC. 93

Coaching Has a HUGE ROI

93Source: 2009 International Coach Federation Client Study

Median coaching ROI is 700%!


© 2013-2014 280 Group LLC. 95

Class Size Makes all the Difference

Source: Journal of Educational Psychology

Small class sizes were associated withsignificantly higher performance


© 2013-2014 280 Group LLC.

Trainers Must Be Actively Doing PM

Not professors

Not people who only do training

At least 10 years experience

96www.aipmm.com

© 2013-2014 280 Group LLC.

“How To” Skills & Tools

“How” not just what

Lots of hands-on exercises

Templates & skills you can immediately apply

97www.aipmm.com

© 2013-2014 280 Group LLC.

Complete Product LifeCycle

Flexible framework for your situation

Must learn both PM and PMM to be effective

Foundation courses should teach everything

Learn to manage any product at any stage

98www.aipmm.com

© 2013-2014 280 Group LLC. 99

Productivity Templates for Entire Lifecycle

99Source: HSC 2011

Templates save time tocompletion of more effective

documents by 40%


© 2013-2014 280 Group LLC.

It’s Our Hope You Have Learned…

The rise of Product Management

The five sins that cause miserable failure

Five critical strategies for massive success

Creating your custom plan

100www.aipmm.com

© 2013-2014 280 Group LLC.

103

Complete solutionsto make you a greatProduct Managerand advance yourcareer in everyphase

© 2013-2014 280 Group LLC.

What’s The Value To You?Coaching

Assessment and career plan

PM Office Templates

Books

Training discount

105www.aipmm.com

© 2013-2014 280 Group LLC.

Poll (answer in chat box)

106

How much do you think this would add to yourearnings in the next 5 years?

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Product Management Success Program

107

SAVE $300: ONLY $1,695TOTAL SAVINGS: $969SPECIAL OFFER:

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Special Bonus!

108

First 10 people that sign up get anadditional 20 minute consultation(phone or in-person) with BrianLawley to strategize on how torapidly accelerate your career!

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Order Now!!

109

1. Go to http://bit.ly/PMSuccess2. Choose Bronze, Silver or Gold3. Use the coupon code to save!

• Save $300 on Bronze - 2PM3SU0AIP• Save $600 on Silver - 2PM6SU0AIP• Save $900 on Gold - 2PM9SU0AIP

First 10 get private consultation with BrianEXPIRES 9/5/2014 MIDNIGHT PST

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Drawing!

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http://bit.ly/PPMEBOOKUse coupon code: PPMEB100K

Download your FREE copy!

One person wins the entire 280Group Press series!

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Q & APresenter:

Brian LawleyCEO & Founder@hmdelcastillo@[email protected]+1.408.834-7518 x1

1. Go to http://bit.ly/PMSuccess2. Choose Bronze, Silver or Gold3. Use the coupon code to save!

• Save $300 on Bronze - 2PM3SU0AIP• Save $600 on Silver - 2PM6SU0AIP• Save $900 on Gold - 2PM9SU0AIP

First 10 get private consultation with BrianEXPIRES 9/5/2014 MIDNIGHT PST

NO EXCEPTIONS!!!

SPECIAL OFFER

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Join AIPMM!For a limited time, get aone-year AIPMMmembership when youpurchase a copy of theGuide to the ProductManagement andMarketing Body ofKnowledge(ProdBOK®). Learn morehere: http://bit.ly/1iUknEx.

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Upcoming Conference

Product Management Festival 2014Zurich, SwitzerlandSeptember 17-18

AIPMM is offering a 25% discount on admission price.Use promotional code to register: Discount-AIPMM.

To learn more, visit:http://bit.ly/1r2SNPd.

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Upcoming CoursesCertified Product Manager®

Oct 27-28, 2014 Austin, TXNov 17-18, 2014 London, EnglandDec 8-9, 2014 – DC Metro Area

Certified Product MarketingManager®

Oct 29-30, 2014 Austin, TXNov 19-20, 2014 London, Englang

Dec 10-11, 2014 – DC Metro Area

Click on the dates above for more information.If you have a team of 10 or more that you want to

certify, contact [email protected]

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Please Join Us Again!

AIPMM Webinar Series:http://aipmm.com/aipmm_webinars

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Call For Speakers:http://www.boldpm.com/call_for_speakers

Topic Suggestions: [email protected]: http://www.aipmm.com/subscribeLinkedIn:

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