Jumpstart Growth With A Product Expert
Congratulations! Your Minimal Viable Product, MVP, has gained some early adopters. Now, it's time to scale your product to a wider market. As a founder, you’re likely spending more time on other parts of the business and can't focus as much on the product roadmap. To avoid the common pitfall of failing to scale effectively, it’s crucial to let a product management expert take over. According to Deloitte, over 80% of startups fail because they can’t turn a new product into one that appeals to a wide audience.
Why You Need a Product Manager to Help You Grow.
To turn your MVP with a few paying customers into a mainstream success, you need a solid, user-focused product roadmap. This requires someone with the experience and time to focus on it. As discussed in my Blog on How to Avoid Product Failure, Product managers are experts in creating and executing these roadmaps, ensuring your product evolves in a way that enhances user experience and meets market needs.
What to Look for in a Product Expert.
When hiring your first product manager, choose someone who has experience in building new products, not just managing existing ones. You need someone who has experience in both strategy and execution. In a startup's chaotic environment, your first hire might be the only product manager for a while, so look for someone who can handle multiple roles, thrive in ambiguity, and build a team.
Key Skills for Your First Product Manager:
Experience with Building New Products: They should have a track record of developing new products from scratch, ideally in a startup setting.
Experience Defining and Executing Strategic Roadmaps: They should be skilled at creating strategic roadmaps that make the most of available funds and resources. They also need to be able to execute the roadmaps on time and on budget.
Thrives in Ambiguity: They should be comfortable working in uncertain and dynamic environments.
Hands-On Approach: They should be willing to get involved in various tasks and take on different roles as needed.
Team Building: They should have experience in assembling and leading teams.
By bringing in a seasoned product manager, you can ensure your product continues to meet user needs and stays on track with deadlines, all while you focus on other critical areas of your business.
Use a Fractional Product Manager to Guide Your Team During Development.
Given that startups face tight budgets, a fractional product manager may be the solution. What is fractional? It's all about flexibility and scalability. A fractional product manager provides specialized expertise without the need to hire a full-time employee - allowing startups to access top-tier talent without breaking the bank. This is especially beneficial for teams in high-cost-of-living areas where talent is expensive, like New York and the San Francisco Bay Area.
Ready to build a winning product? OakBloom Marketing offers fractional product development Contact us here.
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