Product Management Tidbits

Product Management, Start-ups and Founders

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In start-ups, it's not uncommon for the initial idea to come from the founders own industry or domain experience. This works well at the beginning --- when start-ups need leadership and credibility. However, one of the biggest mistakes early start-ups can make is wait too long to formalize product management and for the founder to manage product with an iron fist. This moment in the life of a start-up can be very difficult for founders. They have a tendency to believe they "know it all" and are therefore reluctant to secede responsibility to a new hirer or someone "junior".  After all, with X years of experience --- who could possibly do a better job?

There are at least three dangers with this scenario --- competency, market dynamics and human nature.

1. Most CEOs/founders have no product management training. In fact, very few actually understand product management (role, responsibility, strategic value etc.). Sure they talk a good game (reads lip service) --- only to dismiss product management as "academic".
   
2. Founders are notorious for assuming the role far too long. One, two or three years into the start-up the market has evolved considerably --- yet many founders remain stuck in their old ways, failing to recognize the speed of change or the new market dynamics. As time goes on, founders increasingly become disconnected with reality. Failing to react to this (before it's too late) creates an increasing credibility gap and dampens moral (two poisons that can kill a start-up). The perception among the rank and file is that management (i.e., the founder) is just not "listening". Let the revolution begin...
   
3. Somewhere between day 1 and early market success, founders need to formalize the role and delegate product responsibility. During this period, founders become engulfed with building their business (as they should be), the only problem is unless they create a product management position and allocate responsibility the role of product management will remain unfulfilled --- eventually creating a product vacuum. In reaction, Development, Marketing or Sales, albeit consciously or unconsciously, will vie to assume the product management role (if you don't do it --- someone else will!). Each armed with their own recipe for disaster, the department that wins the product management sweepstakes will own it and set a course influenced by what they evidently know best --- development, marketing, and sales respectively (none of which is a good substitute for product management). These troublesome issues undoubtedly call for dedicated posts...

To conclude, founders should focus on building a sound company, talking care of people and driving the company vision to fruition. They neither have time to visit customers nor the skill to articulate requirements, and the market insight to conceive positioning etc. The sooner they embrace product management and entrust the responsibility --- the better. Failing to address this before it becomes a problem causes start-ups to stagnate or worse yet --- fizzle away.

ProductCamp Toronto (Oct '09)

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Last weekend I attended ProductCamp Toronto. As a first timer, I really wasn't sure what to expect. I am delighted to report it was both a great day and event (aside from my travel interruptions courtesy of AC). The event organizers deserve a lot of credit. The facilities, food and refreshments were great. Lee Garrison, Chris Gurney, Chris Herbert, Saeed Khan, Siobhan Mclaughlin, Lea Sawal deserve to be called out.

It was also an event that Quantum Whisper had the privilege on sponsoring. The event had many great sponsors --- and fortunately, still managed to avoid becoming too commercial. In addition to sponsoring ProductCamp, Quantum Whisper also provided a door prize ($100 Amazon gift certificate). Congratulations to Jackie Serviss! Enjoy your shopping!

If you are contemplating attending a ProductCamp in your area --- I urge you to get involved. As a product management professional, it was an exceptional opportunity to mingle with colleagues, network and learn from the tremendous product management talent and experience at the event. Industry gurus attending included Steve Johnson of Pragmatic Marketing, Stewart Rogers from Ryma Technologies (and the strategicproductmanager.com) and Saeed Khan from onproductmangement.net.

Most of the day was spent in various sessions where participants exchanged product management best practices, ideas and experiences. I facilitated a discussion on product management tools. The event schedule is below complete with session notes. Let me know if you have any follow-up questions.

Looking forward to my next ProductCamp --- maybe Boston?