What is product leadership? Why should companies incorporate technology into their everyday operations?<\/p>\n\n\n\n
Marty Cagan and Chris Jones argue that all modern companies are in the technology business, no matter what kind of product they sell. No matter the company\u2019s overall focus\u2014whether it provides lawn care, smartphones, or investment advice\u2014technology underpins all business operations.\u00a0<\/p>\n\n\n\n
If you want to learn more about product leadership and how to execute it, keep reading.<\/p>\n\n\n\n\n\n\n\n
Cagan and Jones\u2019s main recommendation is that companies should think of technology as the <\/strong>central<\/em><\/strong> aspect of their business<\/strong> and let it drive their vision and operations. However, the authors argue, most companies don\u2019t even realize how important technology is. They don\u2019t give their technology departments enough attention, and they don\u2019t empower them to direct company strategy. Instead, they consider their technology teams subservient to other departments, such as marketing or customer service, which decide what features or functions products should have without a unified vision. In some cases, these companies even outsource their technological expertise, ceding all direct involvement and control.<\/p>\n\n\n\n (Shortform note: The counterargument many companies could make is that people, not technology, should drive business decisions<\/a>. While technology can boost efficiency and increase profits, it’s people who are the ultimate source of innovation and creativity. However, being people-first or technology-first may be a false dichotomy\u2014the key is ensuring that technology aligns with the company’s goals and objectives. If so, then Cagan and Jones are correct to state that businesses need the right leadership to apply technology successfully, though part of the reason may be to ensure that technology remains a tool driven by people, rather than letting it dictate the direction of the business.)<\/p>\n\n\n\n To prioritize technology the way a company should, Cagan and Jones say that product leaders<\/em><\/strong>\u2014the people who head technology teams\u2014should direct strategy as a vital part of a business\u2019s overall leadership. <\/strong>This will ensure that technology teams are aligned with the company\u2019s high-level goals. To this end, product leaders should be more than managers\u2014they should do more than just assign tasks and tell their teams to create certain features. They should, instead, build empowered teams<\/a> that can approach a problem and, even if they have no specific direction, figure out the best way to resolve it to improve the end-user experience. <\/p>\n\n\n\n (Shortform note: An additional benefit of incorporating product leaders into a business\u2019s decision-making<\/a> structure is that doing so can break down organizational \u201csilos\u201d<\/a> in which different departments or teams within a company operate in isolation with limited collaboration or information sharing. With a seat at the leadership table, product heads can ensure that technology teams reduce redundancies and bridge gaps between different business functions, enabling more seamless development and delivery of products to meet the company\u2019s goals.)<\/p>\n\n\n\n When properly empowered, product leaders ensure that technology remains a company\u2019s focus and is used to its best effect.<\/strong> Cagan and Jones describe how these leaders, who span departments such as IT operations, design, and engineering, can transform strategic goals into practical actions. Their duties may entail analyzing the market, defining a roadmap for a new product, and working with marketing and sales to ensure that product\u2019s timely delivery. It’s essential that product leaders not only oversee their respective teams but also that they foster interdepartmental collaboration so that customers\u2019 needs receive the highest priority.<\/p>\n\n\n\n (Shortform note: When Cagan and Jones discuss aligning technology with customer needs, that doesn\u2019t mean you should let customers drive your technological decisions. Seth Godin (author of <\/em>Purple Cow<\/em><\/a>) argues that when given free rein, customers often suggest unrealistic features that they believe will improve their experience. But if you attempt to meet every demand, you\u2019ll lose revenue or end up with a generic product. Godin argues that identifying your smallest viable audience<\/a> is the most effective approach\u2014if you choose which customers you want to serve, you\u2019ll be able to better focus and refine the products you offer.)<\/p>\n\n\n\n The first thing a product leader must do is define and articulate an overarching vision to guide their team. Cagan and Jones write that a product vision<\/a><\/em> is the company’s mission, as reflected through its products and services.<\/strong> A shared vision keeps everyone in a business focused on what they’re collectively trying to accomplish and why it matters. For example, a company that makes outdoor apparel might state their vision as \u201cbringing more people back into the great outdoors.\u201d In this case, the mission isn\u2019t just to make a profit from hiking gear\u2014it\u2019s to get people excited about hiking.\u00a0<\/p>\n\n\n\n Cagan and Jones insist that as a leader, you should clearly articulate your company\u2019s objectives,<\/strong> ensuring your team understands the significance of these objectives to the organization. If crafted well, a strong vision has a powerful impact on team performance: It motivates your team, aligns their efforts with those of the business, and provides them with the framework to decide how to achieve<\/a> their goals, creating an environment ripe for innovation.\u00a0<\/p>\n\n\n\n To effectively advance your business vision<\/a> as a product leader, you need to actively build and nurture trust.<\/strong> Leaders must trust their teams to do their jobs, while teams must trust their leaders to support them. Investors want to trust the company to look after their interests, just as you want your customers to trust that you\u2019ll provide the best products you can. Cagan and Jones write that all <\/em>these stakeholders play crucial roles in your business and should be treated as partners in shaping its future. Developing that level of trust pays dividends by building employee and customer loyalty while cementing your company\u2019s good reputation, both internally and with the public.<\/p>\n\n\n\n However, you can\u2019t nourish stakeholder relationships from afar\u2014you need to get to know people on a personal level. Cagan and Jones emphasize that building trust<\/a> requires ongoing effort<\/strong>, <\/strong>and if you recognize each stakeholder’s unique insights, you can bolster trust more by acknowledging their contributions than with simple promises or reassurances. To do this, establish open lines of communication and feedback\u2014speak to team members, interact with customers, and leverage the knowledge of your colleagues. Consider scheduling regular check-ins with your colleagues and creating channels for feedback and suggestions from all stakeholders for product development purposes.\u00a0<\/p>\n\n\n\n When it comes to building trust, integrity is essential for any product leader because, at its core, integrity means keeping your promises<\/strong>. Integrity also rests on accountability\u2014being willing to take responsibility<\/a> for mistakes while continually looking for ways to mitigate risks and achieve better outcomes. By shouldering responsibility, you let others know that you\u2019re someone to rely on whose judgment can be respected.<\/p>\n\n\n\n (Shortform note: Cagan and Jones write about a leader\u2019s individual integrity, or the ethical actions and principles of one person. However, organizational <\/em>integrity<\/a>\u2014a company’s adherence to ethical principles such as honesty, accountability, transparency, and compliance\u2014is also crucial. A business demonstrates organizational integrity by setting an ethical code, conducting audits, and enforcing ethical behavior. While both kinds of integrity matter, a business with solid organizational integrity not only attracts quality employees and partners but also secures customer loyalty, a bedrock of long-term success.)<\/p>\n\n\n\n Lastly, people trust what they see for themselves, so earning trust relies on being transparent about your actions as a leader<\/strong>. Cagan and Jones recommend that you regularly report on your team\u2019s goals and progress, which includes sharing bad news when it comes along. Give feedback\u2014and not just negative feedback. Acknowledge whenever you or others deliver on promises and show results. This isn\u2019t just to celebrate when teams accomplish tasks\u2014it brings everyone in the company together as all of you make progress toward achieving your vision.<\/p>\n\n\n\n (Shortform note: There can be a downside<\/a> to the kind of transparency the authors recommend. Excessive transparency in organizations can slow down decision-making by involving too many people, and it can damage morale through envy or mistrust if everyone in the company can see the extent to which their peers are rewarded. Also, too much transparency can hinder innovation and creativity, because sometimes ideas need to grow in private before they’re ready for other people\u2019s input. In practice, leaders must strike a balance between openness and strategic confidentiality. Involve the right people<\/a> in the decision processes, reduce the time wasted on unnecessary debates, and work to prevent misuse of information.)<\/p>\n","protected":false},"excerpt":{"rendered":" What is product leadership? Why should companies incorporate technology into their everyday operations? Marty Cagan and Chris Jones argue that all modern companies are in the technology business, no matter what kind of product they sell. No matter the company\u2019s overall focus\u2014whether it provides lawn care, smartphones, or investment advice\u2014technology underpins all business operations.\u00a0 If you want to learn more about product leadership and how to execute it, keep reading.<\/p>\n","protected":false},"author":14,"featured_media":130891,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45,79,14],"tags":[1586],"class_list":["post-129958","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-entrepreneurship","category-management","tag-empowered","","tg-column-two"],"yoast_head":"\nWho Are Product Leaders?<\/strong><\/h3>\n\n\n\n
Set Your Vision<\/strong><\/h3>\n\n\n\n
Cultivate Trust<\/strong><\/h3>\n\n\n\n
Demonstrate Integrity and Transparency<\/strong><\/h3>\n\n\n\n