Prerequisites for Product Management: Eligibility, Creativity Level, Emotional Quotient
Updated on Oct 21, 2022 | 6 min read | 13.2k views
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Updated on Oct 21, 2022 | 6 min read | 13.2k views
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Product managers are known as product wizards because they’re the mastermind where the entire product comes together – right from its inception. Be it procrastinating, curating the right strategies or problem-solving, it comes with the territory of product managers.
Such efficiency needs more than just analytical degrees and training to keep everything working seamlessly. Therefore, here we are discussing product management prerequisites that one is required to learn and execute to know what it takes to be a good product manager.
Learn more: Eager To Learn About Product Management?
To be in the shoes of a Product Manager means to take tough calls that decide what goes into product making, setting the right parameters for the product’s design, and its sales funnel. It is the PM who reads between the subtle lines of the product market, visualizes the product, and identifies the distinct vital features attached to it.
It is therefore easy to infer that basically, being a PM is a cross-functional role that comes with experience in the industry along with studying industry traits to enable the delivery of high-value, essential, and user-centric products.
Check out our management courses to upskill yourself.
According to a Neal Iyer study, the demand for the product management roles in the US has grown by 32% between August 2017 and June 2019.
With smartphones, the way we knew and perceived things changed big time, and now the market is flooded with options. It is these pushing times where ‘survival of the fittest’ wins. Product management is one such “salvage field” that works the best in competitive, dynamic fields to gain critical insights, understanding client-user relationships, and deliver super-fast solutions.
Read: Product Manager Salary in India
Such saturation leads companies to rely heavily on the user data generated to learn user behavior and preferences. These trajectories are paved by product managers and other experts who see through the numbers and translate into profits.
According to HBR, “any aspiring product manager needs to work on their core competencies” to make a great PM. However, there’s more to it than it appears at the surface. We’ll go through each of them in details:
Pro Tip: This you can achieve by staying proactive to take up an internship or learn from assisting a reliable product manager. Such exposure could benefit you in understanding methods to approach a problem statement, brainstorm solutions, and reason its execution. You don’t have to build a parallel product for such experiences.
Know more: Key skills of product managers
Now, when we say a product manager to be a wizard, it means they need to have higher creative abilities and a keen mind to keep up.
Pro Tip: For this, you would require to know a lot of field-based processes and methodologies, which you can learn by volunteering on a product development site at your modern workspace. Be keen on taking up research, compile results on your own, learn from previous projects undertaken, etc.
upGrad’s Exclusive Product Management Webinar for you –
How to craft GTM Strategy for a Product?
Perhaps, one of the most underestimated skills in the field of product management is the ability to build a repertoire with your clients.
Study Product Management Courses online from the World’s top Universities. Earn Masters, Executive PGP, or Advanced Certificate Programs to fast-track your career.
For a competent PM, there’s a lot at stake attached to his job functions. While PayScale and Glassdoor reports show that the average salary of a PM can be anywhere between $61,000 and $200,000, its promising potential makes it a high-seeking career path. If you think considering all the above specifications and product management prerequisites, that you have what it takes, then you can take heed and start on it right away.
Read: A complete guide on product manager career growth
The future does look bright for you, as the demand for PMs is only going to increase over time. In a way, a product manager directs the company on a competitive path in the future. If you’re interested to become a great product manager, you need to demonstrate qualities of leadership, check out the Pot Graduate Certificate in Product Management for it is you who’ll guide your team towards the path of success
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