How To Succeed In Product Management | Jeffrey Shulman, Red Russak & Soumeya Benghanem
53: How Effectuation Works with Imagining the Future that Doesn’t Exist Yet

53: How Effectuation Works with Imagining the Future that Doesn’t Exist Yet

June 29, 2022

In this episode of the How to Succeed in Product Management Podcast, marketing professor Jeff Shulman and The Product Management Center advisory board members Red Russak and Soumeya Benghanem welcome Kunal Nayyar (Stripe) to talk about effectuation. PMs and other product leaders often build their team and identify frameworks once a problem is identified. With effectuation, PMs identify what resources are available and formulate solutions based on the resources at hand. It’s a reverse framework, nonetheless, it’s effective.  

 

Support for How to Succeed in Product Management is brought to you by Apptentive, which enables product managers to measure shifts in customer emotion and gather actionable feedback across the mobile customer journey. To learn more, go to Apptentive.com/UW.

 

What to Listen For:

  • 00:00 Intro
  • 04:49 What is effectuation?
  • 10:12 It’s all about what side of the coin you’re looking at
  • 15:49 The affordable loss principle
  • 19:28 When is it okay to do an affordable loss?
  • 30:09 The security compliance bar set by the industry
  • 33:12 How much leeway do regulated industries have?
  • 35:13 A space for team members to work on any idea
  • 40:02 Help your team imagine the future that doesn’t exist
  • 43:31 Our concluding thoughts
52: Top PM Metrics to Learn when Developing eCommerce Products

52: Top PM Metrics to Learn when Developing eCommerce Products

June 22, 2022

In this episode of the How to Succeed in Product Management Podcast, marketing professor Jeff Shulman and The Product Management Center advisory board members Red Russak and Soumeya Benghanem welcome Jenne Pierce (University of Washington) and Jason Jaingue (Walmart Global Tech) to talk about flourishing in the eCommerce space. The most important metric for all PMs trying to break through in the eCommerce industry and for those who are already in the space is to become a customer. The level of obsession to customer experience is what makes or breaks a product manager’s success.

 

*Guests are speaking on their own behalf and all opinions expressed are their own.

 

Support for How to Succeed in Product Management is brought to you by Apptentive, which enables product managers to measure shifts in customer emotion and gather actionable feedback across the mobile customer journey. To learn more, go to Apptentive.com/UW.

 

What to Listen For:

  • 00:00 Intro
  • 08:49 Calculating the lifetime value 
  • 12:38 NPS is the first focus in eCommerce
  • 14:42 The actual experience of customers determines it all
  • 18:27 Understanding how to dig into usage metrics
  • 25:24 3 key marketing area trends 
  • 33:07 Best in class from a product approach and strong product teams
  • 37:22 Distinction between eCommerce and social commerce
  • 40:56 Handling SEO change in relation to road mapping
  • 45:28 Seeing results when you extend over into eCommerce
  • 47:46 Obsession over customer journey and staying flexible
  • 50:29 Our concluding thoughts
51: Dealing with Tension Between Product Engagement and Monetization in the Gaming Industry

51: Dealing with Tension Between Product Engagement and Monetization in the Gaming Industry

June 15, 2022

In this episode of the How to Succeed in Product Management Podcast, marketing professor Jeff Shulman and The Product Management Center advisory board member Soumeya Benghanem welcome David Lau (Mojang Studios) and Raul Salcedo (Fluent, Inc) to talk about what makes a good PM in the gaming industry. A good PM is someone who is intellectually curious and one who consumes the products because being a PM in this field means you are dealing with consistency in product engagement and formulating strategies to sell within the game.  

 

Support for How to Succeed in Product Management is brought to you by Apptentive, which enables product managers to measure shifts in customer emotion and gather actionable feedback across the mobile customer journey. To learn more, go to Apptentive.com/UW.

 

What to Listen For:

  • 00:00 Intro
  • 04:10 Why should somebody outside of gaming care about this conversation?
  • 06:07 Tracking metrics for gaming customers
  • 15:44 The minimal lovable product
  • 21:51 Tensions between engagement and monetization
  • 30:10 Good PMs understand engagement, acquisition, and monetization
  • 38:44 The 80/20 rule when developing apps
  • 44:12 Setting different types of thresholds when people are overplaying  
  • 53:08 Our concluding thoughts
50: Why is Managing Up Critical to a PM’s Success?

50: Why is Managing Up Critical to a PM’s Success?

June 8, 2022

In this episode of the How to Succeed in Product Management Podcast, marketing professor Jeff Shulman and The Product Management Center advisory board member Red Russak and Soumeya Benghanem welcome Sandeep Patnaik (Microsoft) and Bala Sahitya (Meta) to talk about managing up as a critical skill for PMs. As a PM, especially if you’re new to the role, how can you excel in your job? The most important foundation you need to work on is to manage up so you can build solid and helpful relationships, gain significant experiences for career growth, and extend the coverage of your role in preparation to level up. 

 

Support for How to Succeed in Product Management is brought to you by Apptentive, which enables product managers to measure shifts in customer emotion and gather actionable feedback across the mobile customer journey. To learn more, go to Apptentive.com/UW.

 

What to Listen For:

  • 00:00 Intro
  • 01:16 Why do aspiring PMs need to know how to manage up?
  • 03:59 Managing up versus managing stakeholders
  • 08:54 The best practices for how you could manage up
  • 19:11 What does success look like as it relates to managing up? 
  • 24:05 It’s not the data value, it’s how you present it
  • 29:23 When should you escalate?
  • 37:48 Controversial opinion: The PM is the CEO of the product
  • 42:10 Are product managers really necessary?
  • 48:08 Our concluding thoughts  
49: Understanding Leadership Principles and Taking the Working Backwards Approach

49: Understanding Leadership Principles and Taking the Working Backwards Approach

June 1, 2022

In this episode of the How to Succeed in Product Management Podcast, marketing professor Jeff Shulman and The Product Management Center advisory board member Red Russak and Soumeya Benghanem welcome Nate Westheimer (Amazon) to talk about leadership principles. Identifying structures that work best for you and your product goals is the best step to finding success. This includes the skills to handle escalations within the team and how to escalate fast to not lose momentum. 

 

Support for How to Succeed in Product Management is brought to you by Apptentive, which enables product managers to measure shifts in customer emotion and gather actionable feedback across the mobile customer journey. To learn more, go to Apptentive.com/UW.

 

What to Listen For:

  • 00:00 Intro
  • 06:19 4 things you can learn from Amazon
  • 10:05 Handling an escalation
  • 17:33 The working backwards principles
  • 21:47 The PR FAQs approach
  • 31:02 You can’t be inflexible 
  • 38:51 Sometimes thinking ahead is extremely helpful  
  • 43:55 Read The Cold Start Problem
  • 47:15 Concluding thoughts
48: Finding Success When Transitioning into Product Management

48: Finding Success When Transitioning into Product Management

May 25, 2022

In this episode of the How to Succeed in Product Management Podcast, marketing professor Jeff Shulman and The Product Management Center advisory board member Red Russak welcome Jerlisa "Juju" Fontaine (Oscar Health), Anne Julliene (Joan) Barcelona (Box), and Dimple Singhania (Walmart) to talk about what happens during the first few days as a PM. Transitioning into the role needs a lot of work on building connections with your team and other teams within the organization, continuous learning from your superior through shadowing, and making use of the soft skills you bring into the system to function seamlessly and adapt efficiently.  

 

Support for How to Succeed in Product Management is brought to you by Apptentive, which enables product managers to measure shifts in customer emotion and gather actionable feedback across the mobile customer journey. To learn more, go to Apptentive.com/UW.

 

What to Listen For:

  • 00:00 Intro
  • 10:14 What helped in transitioning to product management?
  • 16:18 What helped the transition successful in the first few days?
  • 24:22 Learn as much as you can from the people you shadow
  • 36:26 How did you define success for your first month?
  • 37:34 What did you wish you knew before you started your role?
  • 45:48 What are the most necessary skills as a product person?
  • 54:01 Concluding thoughts
47: The Soft Skills That Matter in Product Management

47: The Soft Skills That Matter in Product Management

May 18, 2022

In this episode of the How to Succeed in Product Management Podcast, marketing professor Jeff Shulman and The Product Management Center advisory board member Red Russak and Soumeya Benghanem welcome Valery (Larry) Karpiyevich (Store No. 8) to talk about why soft skills matter in product management. Technical knowledge, background, and field experience are key points to have but the ability to motivate, unite, and keep the team working together despite challenges and difficulties along the way is as valuable as any other skill.

 

Support for How to Succeed in Product Management is brought to you by Apptentive, which enables product managers to measure shifts in customer emotion and gather actionable feedback across the mobile customer journey. To learn more, go to Apptentive.com/UW.

 

What to Listen For:

  • 00:00 Intro
  • 08:52 The importance of soft skills for PMs
  • 14:36 Listen without judgment 
  • 16:36 Ways to improve your listening skills
  • 24:23 How to support your team’s mental health
  • 35:21 Tools and frameworks to drive inclusivity
  • 38:40 Style and frameworks for managing stakeholders
  • 46:21 Our concluding thoughts
46: What Makes Product Management Difficult?

46: What Makes Product Management Difficult?

May 11, 2022

In this episode of the How to Succeed in Product Management Podcast, marketing professor Jeff Shulman and The Product Management Center advisory board member Red Russak and Soumeya Benghanem welcome Jeremiah Nelson (Motorola Solutions) to talk about becoming a good PM in a difficult environment. Product management is a job that requires teamwork, team effort, and collaborative planning to successfully launch and eventually sell a product. It can become a difficult task and extremely challenging but with the people in the team, nothing is impossible. 

 

Support for How to Succeed in Product Management is brought to you by Apptentive, which enables product managers to measure shifts in customer emotion and gather actionable feedback across the mobile customer journey. To learn more, go to Apptentive.com/UW.

 

What to Listen For:

  • 00:00 Intro
  • 07:46 When does product management become difficult?
  • 10:46 What is the rubric that customers give you?
  • 11:37 Indicators to help understand the customer’s rubric
  • 15:19 Who should not be a PM?
  • 20:12 Every PM owns the decision regardless of how it's made
  • 27:09 You are not your product
  • 29:49 What makes a better PM for API and technical products?
  • 36:07 Get a detailed understanding of how things function
  • 42:02 Goal-setting methods for a new project
  • 46:24 Take care of yourself first
  • 48:54 Being a PM is about the team you create
45: What is Unique About Machine Learning and AIPM?

45: What is Unique About Machine Learning and AIPM?

May 4, 2022

In this episode of the How to Succeed in Product Management Podcast, marketing professor Jeff Shulman and The Product Management Center advisory board member Red Russak welcome Marily Nika (Imperial College London) and Matt Hulett (PetMeds) to talk about what it takes to become an AIPM. Do you need a technical background to become one? Do you need to be an engineer? Or do you have to be both an engineer and MBA holder? Our panel today shows us why we need to become ready to switch to a new skill set and learn to take on a different role when we it comes to machine learning and product management.

 

Support for How to Succeed in Product Management is brought to you by Apptentive, which enables product managers to measure shifts in customer emotion and gather actionable feedback across the mobile customer journey. To learn more, go to Apptentive.com/UW.

 

What to Listen For:

  • 00:00 Intro
  • 04:22 What does AI or ML mean for PMs?
  • 10:41 You don’t need a technical background to become an AIPM
  • 13:50 How to become ready to switch to a new skill set
  • 18:16 What are the characteristics that makes you a good AIPM
  • 30:45 Which would you  like to work best with?
  • 33:47 Work on things that you’re passionate about
  • 42:26 Do you need an MBA to be a great PM?
  • 45:25 If we are all generalists, how do we bring niche products to life?
  • 49:52 Building confidence to ask thoughtful questions
44: Collaboration to Support, Manage, and Learn About Customers

44: Collaboration to Support, Manage, and Learn About Customers

April 27, 2022

In this episode of the How to Succeed in Product Management Podcast, marketing professor Jeff Shulman and The Product Management Center advisory board members Red Russak and Soumeya Benghanem welcome Divya Sreekumar (Meta) and Clay Robinson (Mamenta) to talk about collating information  both from customers and within the organization to unravel hiend use wants and needs. By asking the right questions and having the right people onboard, addressing customer needs can become more effective.

 

Support for How to Succeed in Product Management is brought to you by Apptentive, which enables product managers to measure shifts in customer emotion and gather actionable feedback across the mobile customer journey. To learn more, go to Apptentive.com/UW.

 

What to Listen For:

  • 00:00 Intro
  • 08:31 Collating product backlog
  • 10:34 Getting the right data and filtering the noise
  • 16:08 PMs find the unarticulated wants and needs 
  • 18:36 Either you’re doing too much or too little when gathering info
  • 26:41 Take yourself up from the HOW and switch to the WHY
  • 34:06 How do you break into the PM space?
  • 40:09 How do you speak up when you feel you’re not empowered to