Truth #4: Experience Matters

So far in the “7 Truths of Product Management,” we have explored the importance of being a jack of all trades, having empathy, and having a deep curiosity. Today, we’re diving into Truth #4: Experience Matters.

While experience looks good on a resume, the type and level of experience needed in product management depends heavily on specific business needs. It’s tempting to grab the first person who may be able to help your team, but being an effective product manager is not a universal commodity. Finding the right fit is crucial. The wrong person can lead to poorly built products, unhappiness, and frustration.

Let’s explore some common hiring options based on their experience:

🔶 The Recent Grad🔶
– Pros: Enthusiastic, moldable, eager to learn and grow.
– Cons: Lacks experience, business understanding, and immediate skills.
– Best for: Established teams with experienced mentors who can invest time in coaching and development.

🔶 The Seasoned Product Manager🔶
– Pros: Can kick-start your team, bring valuable experience, and drive growth.
– Cons: May require higher compensation and be resistant to change.
– Best for: They work best for both establishing new teams, and for existing teams that are looking to deepen their bench. Industry experience is a plus.

🔶 The High-Performance Engineer/Salesperson🔶
– Pros: Understands your business from a specific angle, can hit the ground running on specific tasks.
– Cons: Strong bias towards their previous role, may clash with other team members, lacks full product management understanding.
– Best for: Specific, focused tasks within established teams. Requires close guidance and support to avoid frustration and potential turnover.

Remember: This isn’t an exhaustive list, but it helps highlight the importance of matching the candidate’s experience to your specific needs while also providing them with the necessary support. Building a product team is challenging, and depending on where you are in that process, it can frustrating.

One thing to consider, especially if you need to establish or turn around your team is hiring fractional product management: experienced individuals who work part-time, offering industry and Product Managed expertise at an overall lower cost to you.