The job description for a Product Manager, based on reviewing PM career ladders at 20+ companies 🧵
1/ Leadership
"Demonstrates ability to effectively motivate a large team. Can successfully start and direct self-sustaining teams."
"Inspires teams to achieve great outcomes. Pushes team when they need to be pushed, and supports teams when they need support."
2/ Execution
"Focuses, runs, and plans across a series of teams that operate seamlessly with minimal blockage, minimal noise, and a rapid clip of high-quality delivery. Others frequently turn to this person to understand how to run highly productive teams."
3/ Strategy
"Articulates a path to achieve results for a product area."
"Can take ambiguous, large product spaces and create principles / focused strategy to organize a wider team along with product plan."
4/ Communication
"Demonstrates strong verbal and written communication skills in interactions with team and product stakeholders. Supports communication about team’s work to executives and company at large."
“Communicates concisely, influences outcomes, and messages crisply."
5/ Deliver impact
"Shows quantifiable impact by hitting aggressive goals that move metrics"
"Demonstrated track record of delivering step function improvement to the business and customers."
6/ Leverage customer insights and data
"Talks to a range of customers, always looking for deeper insight. Is able to use this insight to effectively create the best possible value in their product area."
"Able to derive insights from data to support new bets."
7/ Planning and goal setting
"Owns business planning and serves as the representative to executives."
"Creates effective plans with a defined purpose and business outcomes, defined roles/responsibilities, and clear timelines/milestones."
8/ Collaboration
"Handles conflict and hard conversations directly and with maturity—can be trusted to lead through challenges or uncertainty."
"Proactively looks for opportunities to improve how to work well together within the team and across teams."
9/ Vision
"Crafts a broad, long-term vision for the product area they are managing, including outlining important, new areas for product development."
"Articulates a vision that inspires, resonates, and drives clarity."
10/ Ownership
"Identifies problems or goals and works independently to find a solution. Links and guides multiple roadmaps toward a coherent, shared set of goals. Influences others to take ownership of work."
"Takes responsibility for outcomes and doesn’t make excuses."
"Come shape the future of Blockchain-powered football collectibles, you’ll have a massive impact from day 1 as part of the founding team. Freedom, autonomy and ownership are all part of the deal."
Eight ways to make money: 1. Sell a thing 2. Rent a thing 3. Take a cut 4. Charge a subscription 5. Charge based on usage 6. Sell a service 7. Advertising 8. Charge on % of assets
More in 🧵
1/ Sell a thing: Sell someone your physical or digital product
• Examples: iPhone, lemonade, land, stocks
• Ideal for: Physical products you manufacture or acquire
• Optimize: Unit economics
• Business strategy: Make or acquire a thing —> Sell it for more than it cost you
2/ Rent a thing: Allow someone to borrow a product that you continue to own
• Examples: Apartments, rental car
• Ideal for: Physical products you manufacture or acquire that people don’t want (or can’t afford to) to own
Exploring new job opportunities? Check out this week's 🔥 featured roles from companies like @duolingo@OpenPhoneApp@overtime@CurologyUSA and 200+ more opportunities around the world 👇
(Just in the past week, 667 applications submitted from 301 applicants)
1/ Great PMs take pride in the clarity and conciseness of their documents, emails, presentations, and meetings.
They know that people judge the quality of their thinking by the quality of their writing/speaking, and that effective communication is the most fundamental PM skill.
2/ Great PMs build an aura of “I’VE GOT THIS.”
They rarely drop balls, they come prepared, and their colleagues know that when they take on a task, it’ll get done.
Take rates of 40 marketplaces, platforms, and more. Takeaways and surprises in thread 👇
Takeaway #1: There is a relatively clear distinction between “platform” businesses taking 5-15% (which make it easier for you to run your business, e.g. @Patreon@SubstackInc), and Marketplaces taking 10-50% (which bring you new business as well, e.g. @DoorDash@BookCameo)
Takeaway #2: Differences in take rates are primarily driven by three factors: (1) whether you can drive new demand, (2) how much convenience you provide the seller, and (3) the level of competition in the market.