What are some of the areas that a good Product Manager should be focusing on? Over the years as a Product Manager, I’ve learned that if you ignore any of the areas below, your product and your company will suffer greatly and you will eventually lose your customers. Shipping consistently great features, high quality products is a hard job. Below points can help.

Define Your Customer:  Before you do anything, know your customer really well. Check and validate your assumptions periodically and frequently.

Define The Problem You Intent to Resolve: Do not try to resolve your favorite problem or any problem, but bring solutions to the problems of your customers.

Listen to Your Customer: When it comes to Product Management, Active Listening is key! Get continuous feedback from your customer about your product, do periodic surveys and conduct working sessions.

Get Cozy with Your Data: Live and Breathe your data; day in and day out. Transform information into insights about trends, analysis, forecast, pricing and value.

Watch the Competition: Keep a close eye on your competition and learn from their successes or failures.

Learn to Leverage: Don’t be afraid of using a good idea or superior technology to improve your product and bring value. We might invent a cool new technology or come up with a bright idea; but if we can’t, leveraging what’s out there and improving upon it is another way of bringing success to what we do.

Make Money: While I don’t recommend being overly concerned with it, do NOT forget about making money in the process. Make sure that your customers are willing to pay for your products or services.

Make A Decision and Take Action:  Do not be afraid of making decisions based on the information/insights available. Consider the Cost of Delay or Inaction. Once the decision is made and execution is completed, update your data with the feedback from your customers and do not be afraid of changing directions based on the new data and feedback.

Learn to Say “NO”: It’s important to know why you are doing what you are doing. Negotiate. Make sure the backlog supports your company’s and products’ vision and roadmap. It’s okay to say “No”.

Prioritize Prioritization: There’s always going to be more to-dos than the resources available. It’s critical to prioritize and work on the right features that support the overall vision, strategy and roadmap.

Be Passionate: Above all, believe in your product. Tell your customers periodically why you are different and how you will keep providing them with a delightful experience.  

Let me know what you think about the list above. What skill set would you look for in a great Product Manager?