Want to know about Product Management in 2021 ?

The problem with learning problem management is you can just do a course to learn one thing. You actually have to know multiple skillsets. The problem with learning problem management is you can’t just do a course to learn one thing. You actually have to know. Multiple skill set across. The discovery part of the product lifecycle, the delivery part of a product lifecycle and also across the day to day management of a Product. I call this the market adoption of the product life cycle. A lot of the skills, you might already know. So you might already know things like using hypotheses to break down ideas, right? You probably know about mapping out assumptions already if you come from a design background. This is more like design thinking, stuff.

Using Quant and Qual to make decisions using data. So some of the stuff that you’d probably already know from your existing role and what you want to do is you want to figure out what’s missing across these skill set, and how can I learn the theory but also get experience to know what I’m doing To really talk to talk per say. For example, if you’ve never done, building business cases and business case modelling, then I encourage you to figure out how you want to do that but ultimately to be a very competent product manager, you need to know exactly what to do at the right time. For example, when a partisan growth will be doing a lot of a B testing, you’d be looking, at data. You’ll be understanding, How do we position yourself in the market? So you need to do market competition. So knowing what to do at the right time is all the skill set that you need to know throughout your career.

Because every single company needs different type of PM’s. Just because Atlassian and Canva are the Golden Child of Australia doesn’t mean that’s the type of PM that every company is looking for. Companies would want to get a data focus PM. So if you work for, like Ansarada, for example, they need a data focus PM. A Technical PM will be the like of the Googles. But you might want to be working for banks like Commbank or Westpac, right? Then they need a business-focused PM. Or maybe if you work for, like, a marketing team like Vero – a start up that does email marketing. They might want a marketing focus PM Or even like if you work for Invision, then you can be a design focus PM. So play to your strengths. Don’t mould yourself into a role that doesn’t suit you just because you want to get the title. Find a PM role that suits your background the most and start from there. I want to show you this steps for you to attain any skill. This is not just specifically to PM this applies for anything.

You want to learn how to play basketball. You want to learn how to write. This is basically the steps for you to attain any type of knowledge and experience and you want to figure out how many jumps you need to get there. If you’ve got no product management experience, the first step, No experience. You want to get experience. Once you have experience, then you can get the job title. A lot of time people have no experience and they want to get a PM role straight away. And this is the missing link… It’s ok to have s no experience. Get experience. Once you get experience, then you can get the job title. Once you’ve got the job title, then you can figure out well what industry I want to work in. If you’re from a business background, you want to get in as a business PM. And you will do a kick ass job at that for a couple of years. Then you can figure out what industry can move into next.

Can I move into a tech company? or do I want to move into a mining company? And so on and so on. So once you get a job title, then you can move industry. Then once you move industry, that’s where you can truly become world class and become a world stage PM. You go to the Valley or start writing a book and become a thought leader and so on. Once you moved across multiple industries. So don’t jump from no experience to, say, a Facebook product manager in Silicon Valley. That’s too much of a jump for you. I’m not saying it’s impossible, but it’s very likely that you fail and you’re gonna burn yourself out. So these are the steps for you to get there. Getting into PM is a 6 to 12 months journey as well. It’s not a short term thing where you do a boot camp over a weekend or do a boot camp for three months and youcan get the role. It’s a shift in mindset because there’s a decision making role. It’s  a super important role. So it’s a 6 – 12 months journey, and I would say Take it easy.

Don’t quit your job and focus and becoming PM full time. So for the first one or two months I highly recommend you read a book called “Inspired by Marty Cagan” That’s basically that’s the bible of modern technology product management right now, so I highly recommend you reading that. And then you want attend product meetups and watch some videos. Attend this course so you can understand a little bit about it. Once that’s done, then you want to figure out How you want to start building the product mindset. That’s when you should read another book called Product Leadership by Martin Eriksson So for the first three months, I highly recommend you do that first. Don’t spend thousands on a course for the first 1 to 3 months.

Buy a few books first,  and if you don’t want to do books, you can watch a video course The cost is like $49 bucks, same costs as most books. So you can go through the course yourself. The next thing is where you start to invest into getting experience, apply the theory. And you want to seek out some formal training. You want to start working on some sort of side project and start practising on the skills. You want to start re-branding yourself on Linkedin and attend Meetups as an aspiring PM or looking for a job. Or a business analyst trying to break into the product management industry. So your job is to get some hands on experience in the next 3 to 6 months. Then from the 6 to 12 months, that’s when you’re focused on getting the job. Once you understand the mindset, and you’vedone some formal training… That’s when you’re ready to do some pro-bono work. Do some free work here and there. So what’s the salary expectation for PM.  If you look at how salary was in April 2020, Average about $114K. If you want to do an entry level PM, It’s about $85K to $100K Mid level is about $110K to $160K then also senior about $160K to $220K. So that’s basically the salary expectation when you’re breaking into the PM role. For a senior PM, you’re look at someone that’s got, 5 to 10 years of experience. Mid level is around 3 to 5, Junior is around 0 to 3. That’s sort of like the salary range that should expect for a PM role. And that’s it.

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