The product manager secrets to surviving the 3 pivotal startup phases
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The product manager secrets to surviving the 3 pivotal startup phases
Product managers wear many hats. But product managers in startups? They must be shapeshifters, rising to the occasion at every stage of the company's trajectory
To succeed, product managers must demonstrate a specific set of core competencies - no matter where they work. But, the role of the product manager in a startup is particularly hard to define. They operate with a wide range of responsibilities and huge pressure to deliver results, often without reporting authority.
How is the role of a product manager in a startup different from a large company?
The path of a startup is never predictable. As it meanders - discovering, fine-tuning, and pivoting - product managers shape the way forward, far more so than in a larger organization which have steady-state goals and plenty of minds to guide the way.
With less money and fewer people, product managers are flying the plane while building it. This brings out either the best or the worst in a person, but the opportunity to drive impact is tremendous. From strategy and positioning to pricing and customer retention, they are challenged to do more with less.
There's a lot on the line for these individuals and it's easy to feel like an imposter when learning as you go. It is not only the idea but the execution that largely determines a startup's success, and execution frequently comes down to the product manager.
What are the core competencies of a product manager?
Even as raw talent, a handful of bedrock traits tend to define effective product managers. Thought leaders like Anand Chandrashekaran and Julia Austin have explored this topic in-depth - compiling what it takes to be a good PM within an established company.
In a startup environment, a product manager must adapt to new challenges over three major phases - formation, validation, and growth. At each stage, they must develop the following lesser-known abilities to thrive.
Stage 1: FORMATION
The formation of a startup is when the founders commit to pursuing the idea as a real business. The future is hazy and the team lacks structure.
During this time, they nee