How to Think Like a Product Manager

How to Think Like a Product Manager | Project Management | Emeritus

In 2007, Apple introduced the iPhone to the world. At the time, Nokia dominated the market with its N95, a feature-rich device that included a high-resolution camera and advanced connectivity. However, by the first half of 2013, one in every four US citizen was using an Iphome, a giant leap from it’s 5.3% market share in 2008 (1,2). This meteoric rise is often attributed to Steve Jobs, who was hailed as a visionary and a genius. But what truly drove this success wasn’t some abstract concept of genius. Rather, his work and his innovation exemplified how to think like a product manager. He understood what was lacking in the present market and what customer pain points were, collaborated with his peers, and launched a visionary product. His entire approach, in short, is an example of top-notch product management

So, let’s take a deeper look to understand how to think like a product manager. 



How to Think Like a Product Manager

To revisit the Apple example, what exactly made the iPhone revolutionary? As Jobs himself famously said, the breakthrough wasn’t inventing entirely new technologies. Instead, it was about integrating existing features—a phone, a music player and an Internet communicator—into one seamless, intuitive device. His idea for product creation clearly illustrates how to think like a product manager. It’s about synthesising ideas, understanding customer pain points and requirements, solving real problems and innovating within constraints. Below, we explore 10 essential mindsets to cultivate if you aim to think like a successful product manager.

1. Nurture Curiosity to Spark Innovation

Firstly, curiosity is the foundation of creativity. Hence, asking “what if?” or “why not?” opens the door to unexpected solutions. Hence, this mindset not only challenges existing paradigms but also drives breakthrough ideas that stand out in competitive markets.

2. Look Beyond Surface-Level Insights

Great product managers go beyond what’s immediately visible. Rather, they dig deeper into user behaviours, market shifts and competitive landscapes. This analytical approach allows them to connect dots that others might overlook, which often leads to revolutionary improvements.

3. View Every Decision as an Experiment

Every choice in product development is an opportunity to learn. For example, whether a feature succeeds or underperforms, it provides data to refine strategies. Therefore, adopting an experimental mindset helps product managers embrace failures as stepping stones to better outcomes.

4. Master the Art of Prioritisation

One of the toughest challenges in product management is knowing what to prioritise. Additionally, when one has to deal with  limited resources and competing demands, focusing on high-impact tasks becomes paramount. The ability to assess trade-offs and make tough decisions defines how to think like a product manager effectively.

5. Develop Empathy for End Users

Empathy lies at the heart of human-centred design. Hence, thinking like a product manager means being able to keenly observe your customer behaviour and understand their pain points and motivations. It’s only by seeing the world through their eyes that you can create products that resonate on a deeper level.

ALSO READ: Do Product Prioritization Frameworks Work in the Real World?

6. Build Confidence Through Data-Driven Opinions

Product managers must articulate informed opinions to drive decisions. However, these opinions must rest on a foundation of data, market research and user feedback. Confidence coupled with evidence ensures decisions gain stakeholder buy-in.

7. Stay Open to Alternative Approaches

There’s rarely a single solution to any product challenge. Therefore, a successful product manager should be in the habit of brainstorming multiple approaches and weighing their pros and cons. As a result, this open-mindedness ensures that they choose the most effective path forward.

8. Always Seek Improvement

While game-changing ideas capture attention, consistent growth often stems from incremental advancements. Product managers who focus on refining features and processes step-by-step create a culture of continuous improvement.

10. Adapt Quickly to Change

In a dynamic tech landscape, adaptability is essential. As a result, the ability to pivot strategies or reallocate resources ensures products remain competitive as circumstances evolve.

Soft Skills Every Product Manager Needs

functions of financial managementIf you’re wondering how to think like a product manager, then you must know that soft skills are as relevant as hard skills and technical know-how. Some of the key soft skills to cultivate include:

1. Cross-Functional Leadership

To begin with, product managers operate at the intersection of design, engineering and marketing. In essence, this position requires them to act as the glue binding diverse teams together. Effective cross-functional leadership ensures all stakeholders stay aligned and motivated towards achieving shared goals. By fostering unity among teams with often conflicting priorities, product managers are key when it comes to  how to think like a product manager.

2. Critical Thinking

The ability to think critically is indispensable for assessing data objectively and making informed decisions. For instance, product managers rely on this skill to evaluate options, anticipate challenges and devise strategies that align with the product’s overarching goals. Furthermore, when faced with incomplete data or unforeseen roadblocks, critical thinking helps them navigate uncertainty confidently.

3. Time Management

Time is of the essence, and this holds particularly true for product managers. Managing a product roadmap often involves juggling tight deadlines and overlapping tasks. Exceptional time management skills are necessary to ensure milestones are met without compromising quality. This is one of the soft skills to master to understand how to think like a product manager and implement those ideas into actionable insights. 

4. Communication

Clear communication is the bedrock of successful product management. For instance, product managers must translate complex ideas into digestible information for stakeholders, executives and development teams. Thus, whether presenting a strategic roadmap or resolving misunderstandings, strong communication fosters alignment and minimises errors.

ALSO READ: What is Product Operations? How is it Different From Product Management?

5. Collaboration

Great products emerge when diverse ideas converge. Collaborative product managers actively engage team members, leveraging their unique strengths to achieve better outcomes. Hence, by fostering an environment where everyone feels valued, they enable creativity to thrive and ensure seamless teamwork, embodying another essential aspect of how to think like a product manager.

6. Conflict Resolution

Disagreements are an inevitable part of product development. Therefore, a product manager must be skilled at approaching conflicts diplomatically, and finding common ground to maintain team harmony and momentum. Resolving disputes quickly and fairly ensures smoother workflows and helps create a positive team dynamic.

7. Prioritisation Skills

Knowing what to prioritise is what separates highly effective product managers from the rest. By identifying high-impact tasks and focusing resources accordingly, they ensure that development efforts deliver maximum value. This ability to balance competing demands is central to how to think like a product manager.

9. Adaptability

Rapid advancements in technology and shifts in market dynamics demand agility. Hence, adaptable product managers must remain resilient and responsive to these changes. By embracing new tools, trends, and challenges, they can ensure their products stay relevant and continue to meet evolving user needs.

Learn How to Think Like a Product Manager: ISB Executive Education Product Management Programme

To excel as a product manager, you must combine three critical elements: a product-oriented mindset, versatile soft skills and technical proficiency. Creative thinking and team leadership are as crucial as analysing data, measuring performance, and mastering tools to manage product lifecycles effectively. Emerging technologies, including AI and generative AI, are also becoming integral to the product management process. Now, for aspiring and seasoned product managers, ISB Executive Education’s Product Management Programme offers an unparalleled opportunity to develop these capabilities. The main features of this programme include:

  • Modules on generative AI in product management: Gain insights into how generative AI enhances productivity and decision-making for product managers. As it is becoming increasingly important in increasing the creativity and productivity of product managers, this module figures as an impressively timely inclusion
  • Hands-on projects: Work on real-world challenges under the guidance of leading industry experts
  • Strategic frameworks: Learn about product development processes, market structure analysis, product positioning and branding
  • AI and data modules: Explore the intersection of artificial intelligence and product management to future-proof your career
  • 15 live online sessions: Engage directly with programme leaders and peers

ALSO READ: Best Product Management Certification Courses: Why You Need Them for This Job Market

If you’re ready to learn how to think like a product manager and equip yourself with all the necessary technical and business skills associated with the role, this industry-aligned, tailor-made course—delivered by ISB Executive Education—is the ultimate choice. Offered in collaboration with Emeritus, this programme will equip you with the skills to succeed in a competitive, tech-driven world. 

Write to us at content@emeritus.org 

Sources:

  1. As it turns 6, a look at who uses the iPhone (no, not ’everybody’)┃Pew Research Centre
  2. The iPhone Is A Game-Changer For Mobile Banking┃Forrester

About the Author

Content Writer, Emeritus Blog
Sanmit is unraveling the mysteries of Literature and Gender Studies by day and creating digital content for startups by night. With accolades and publications that span continents, he's the reliable literary guide you want on your team. When he's not weaving words, you'll find him lost in the realms of music, cinema, and the boundless world of books.
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