Focus on Strategy or Execution? Mastering Product Management with Maggie Crowley (Toast, Drift, TripAdvisor)
Maggie Crowley, VP of product at Toast, delves into the nuances of product management.
She shares her wisdom on developing a comprehensive PM skill set, the traits that define successful product managers, and the art of crafting a potent product strategy.
Additionally, she offers valuable guidance for those seeking to venture into the realm of Product Management.
Defining Qualities of Successful PMs
Three distinguishing qualities of successful product managers include: an aptitude for simplifying complex tasks by identifying what’s most crucial; unwavering commitment towards achieving goals and sharing results; and readiness to undertake ‘hard work’ – tasks that may seem mundane but are critical for driving outcomes.
Crafting an Effective Product Strategy
While having a sound strategy is crucial for choosing which products to focus on, it constitutes only about 5% of a PM’s role.
The majority of their work involves executing other tasks effectively.
Value of Diverse Company Experiences
Gaining experience across various types of companies – from startups to large corporations – can be highly beneficial in shaping one’s approach towards product management.
Certain qualities remain constant across all roles irrespective of company size or type.
Transitioning Into Product Management
For individuals aspiring to break into product management: be prepared to take on any task (even if it’s not technically your job), maintain a positive attitude even during challenging times, and constantly strive towards making your product successful.
Simplifying Complexities
Successful product managers have a knack for breaking down complex tasks into simpler, manageable ones.
This ability to simplify complexities is crucial for effective decision-making and execution.
The ‘Hard Work’ in Product Management
Product management often involves doing the ‘hard work’ – tasks that may seem mundane or unglamorous like customer support, sales, marketing, writing copy or project management.
However, these tasks are critical for driving results and achieving outcomes.
You can’t be a good PM if you’re not willing to do the hard boring unglamorous work of customer support, sales, marketing, writing, copy, project management…it’s your job. No one else is going to do it because at the end of the day, you’re responsible for outcomes and results. – Maggie Crowley
Strategy vs Execution
While strategy is important in product management, execution takes precedence.
A sound strategy forms only about 5% of a PM’s role while the majority of their work involves executing other tasks effectively.
Experience Across Company Types
Working across different types of companies – from startups to large corporations – can provide valuable experience.
Certain qualities remain constant across all roles irrespective of company size or type.
Breaking into Product Management
Aspiring product managers should be prepared to take on any task (even if it’s not technically their job), maintain a positive attitude during challenging times, and constantly strive towards making their product successful.
