Question: How can product managers thrive in tough times?
2009 has arrived and with it one of the bleakest outlooks for the economy in a long time. During recession, organizations typically take drastic measures and cut right back on anything that isn’t directly revenue generating. In these dark times, how does the discipline of Product Management maintain its “strategic value” in the eyes of the organization’s decision-makers? And, on a more personal level, how do you maintain your own personal profile and “strategic value”?
Answer from Brian Lawley of The 280 Group: The biggest strategic value that a product manager can add during tough times is to help the company decide where to focus limited resources. Most companies chop heads but don’t cut products or projects. Thus everything is still expected to get done but if it does the results are mediocre at best. If you can use the Boston Consulting Group matrix and map out your products in terms of growing markets and ability to capture them and then either kill the dog products or shift the resources and effort to the stars it will be very helpful to your company.
In terms of your own personal profile, the archived webinar on “How to recession-proof your PM career” has lots of good strategies and tips.