Riding the metro, I overheard a young man asking about a career in product management. His friend responded, “It’s like being the CEO of the product, but you need a degree in product management.”
I usually don’t talk to strangers on the metro, but I felt compelled to correct this misconception. There are many myths about product management. Here are the top eight I often encounter.
Myth 1 – A Technical Background is Mandatory
Truth: While technical skills are beneficial, they are not mandatory.
Product managers need a strong understanding of:
- Market
- Leadership
- User needs
- Problem-solving
- Business strategy
- Skills in communication
Myth 2 – Product Managers Must Be Experts in Every Aspect
Truth: Product managers don’t need to be experts in every field, such as engineering, design, or marketing.
Their role is to collaborate effectively with experts in these areas, integrate their contributions, and guide the product vision.
Myth 3 – You Need a Specific Degree or Certification
Truth: There is no specific degree or certification required to become a product manager.
People from diverse educational backgrounds, including business, engineering, liberal arts, and even self-taught individuals, can become successful product managers.
Myth 4 – Only People With Extensive Experience Can Become Product Managers
Truth: Experience is valuable, but many companies hire junior or associate product managers with less experience.
But these opportunities are getting harder to find.
You need to demonstrate skills like:
- User empathy
- Strategic thinking
- Willingness to learn
Myth 5 – The Role is Mostly About Building and Launching Products
Truth: The role involves much more. It includes:
- Negotiation
- Market trends
- Setting strategy
- Problem-solving
- Prioritizing features
- A lot of coordination
- Understanding customer needs
Myth 6 – Product Managers Always Have Complete Authority Over Their Products ( CEO of the product)
Truth: While product managers are responsible for the product’s success, they often need to work collaboratively with other departments and may not have complete autonomy.
Influence and persuasion are key skills.
Myth 7 – Product Management is Just Project Management
Truth: Product management is different from project management.
Product managers focus on the ‘what’ and ‘why’ of a product:
- Vision
- Strategy
- Customer needs
Project managers focus on the ‘how’ and ‘when’:
- Execution
- Timelines
- Resource Allocation
Myth 8 – You Must Start in a Tech Company
Truth: Product management principles apply across various industries, not just in tech.
Experience in non-tech industries can provide valuable perspectives and skills applicable to tech product management.
