Product management is a discipline that blends art and science, requiring a mix of strategic thinking, customer empathy, technical knowledge, and leadership skills. Within this realm, there are PMs who excel and then those who set themselves apart as the very best—the top 1%. The distinction between a top 1% product manager and a top 10% product manager can be subtle, but these differences are crucial and often spell the difference between a product that succeeds and one that reshapes entire industries.
This article will delve into these differences, exploring the characteristics, behaviors, and mindsets that distinguish the top 1% of PMs. We will also include real-world case studies and best practices that illustrate these principles in action.
1. Visionary Thinking vs. Strategic Thinking
Strategic Thinking in the Top 10%
Top 10% product managers are excellent strategists. They have a clear understanding of market dynamics, competition, and customer needs. They know how to align the product’s goals with the company’s broader objectives. Their strategies are well-researched, data-driven, and meticulously planned.
For example, consider the case of Slack. When Slack entered the market, it was up against established communication tools like Skype and email. A top 10% PM would likely have focused on optimizing features, ensuring seamless integration with existing workflows, and driving adoption through incremental improvements. This strategic approach helps in capturing market share and meeting customer needs effectively.
Visionary Thinking in the Top 1%
Top 1% PMs, while also being strategic, elevate their approach to a visionary level. They don’t just think about the current market landscape—they imagine what the market could be. They anticipate shifts in technology, user behavior, and competitive dynamics, often leading to products that create new categories or revolutionize existing ones.
Case Study: The iPhone
Steve Jobs’ introduction of the iPhone is a prime example of visionary thinking. Before the iPhone, the mobile phone market was dominated by companies like Nokia and BlackBerry, with their focus on hardware keyboards and basic mobile functions. Jobs envisioned a future where the phone would become a powerful mini-computer, central to users’ lives. The iPhone wasn’t just a product; it was a reimagination of how people interact with technology. This visionary leap transformed Apple into one of the most valuable companies in the world and set the standard for smartphones.
2. Influence and Leadership
Effective Leadership in the Top 10%
Top 10% PMs are strong leaders. They excel at managing cross-functional teams, ensuring that everyone—from engineering to marketing—is aligned with the product vision. They are adept at stakeholder management, navigating complex organizational structures, and ensuring that projects move forward smoothly.
An excellent example of this is the development of Google Chrome. When Google decided to enter the browser market, it was going up against giants like Internet Explorer and Firefox. The PMs behind Chrome had to lead a highly technical team while managing expectations across Google, a company with many competing priorities. Their effective leadership ensured that Chrome not only entered the market but quickly gained significant market share due to its speed, simplicity, and security.
Transformational Leadership in the Top 1%
In contrast, top 1% PMs exhibit transformational leadership. They don’t just lead teams—they inspire them. Their vision and passion motivate their teams to achieve what might seem impossible. These PMs also have the ability to influence beyond their immediate teams, shaping company strategy, culture, and even industry standards.
Case Study: Tesla and Elon Musk
Elon Musk’s role as the de facto product manager for Tesla is a textbook case of transformational leadership. Musk’s vision for electric vehicles wasn’t just about building cars; it was about accelerating the world’s transition to sustainable energy. His leadership has inspired a company culture of innovation and relentless pursuit of this vision, often pushing the boundaries of what’s possible in automotive technology. Despite numerous challenges and skeptics, Musk’s influence has led Tesla to dominate the electric vehicle market and push traditional automakers to rethink their strategies.
3. Customer Obsession vs. Customer Empathy
Customer Empathy in the Top 10%
Top 10% PMs are deeply empathetic towards customers. They invest significant time in understanding customer needs, pain points, and behaviors. This empathy drives them to create products that are highly attuned to user needs, ensuring that the product delivers real value.
For instance, Dropbox’s early success can be attributed to the deep customer empathy demonstrated by its product team. They understood the frustration users faced with existing file-sharing solutions and created a product that was simple, reliable, and easy to use. This customer-centric approach helped Dropbox quickly gain a massive user base and become a leader in cloud storage.
Customer Obsession in the Top 1%
Top 1% PMs take this a step further—they are obsessively customer-focused. They don’t just address current customer needs; they anticipate future ones. They are constantly thinking about the customer’s journey, experience, and how to create products that delight and surprise in ways users never expected.
Case Study: Amazon and Customer Obsession
Amazon’s relentless focus on customer obsession, driven by Jeff Bezos, is legendary. From the beginning, Amazon has prioritized customer experience above all else. This obsession has led to innovations like one-click purchasing, personalized recommendations, and the Prime membership program. Bezos’ philosophy of “starting with the customer and working backward” has been a driving force behind Amazon’s continuous innovation and dominance in e-commerce.
4. Relentless Execution vs. Smart Execution
Relentless Execution in the Top 10%
Top 10% PMs are relentless executors. They have a keen eye for detail and are focused on delivering high-quality products on time. They are masters of project management, ensuring that every aspect of the product development process is well-coordinated and efficiently executed.
Consider the development of Facebook’s News Feed. When Facebook decided to launch this feature, it required seamless integration with the platform’s existing structure while introducing a new way for users to interact with content. The execution had to be flawless to ensure user adoption and satisfaction. The PMs behind the News Feed managed to deliver this complex feature while maintaining the quality and stability of the platform.
Smart Execution in the Top 1%
Top 1% PMs, while also relentless, prioritize smart execution. They know how to make strategic trade-offs, focusing on what will deliver the most significant impact with the least amount of resources. They are comfortable with ambiguity and are skilled at navigating uncertainty, often making decisions based on incomplete information.
Case Study: Instagram’s Lean Approach
When Instagram first launched, it was a lean product with just a few key features focused on photo sharing. The product team, led by Kevin Systrom, made smart decisions about what to include in the initial launch, understanding that speed to market was critical. This focus on smart execution allowed Instagram to rapidly gain users and iterate based on feedback, eventually becoming a social media giant.
5. Data-Driven Decision Making vs. Data-Informed Intuition
Data-Driven Decision Making in the Top 10%
Top 10% PMs excel at making data-driven decisions. They use data to validate assumptions, optimize features, and track the success of their products. They set up clear KPIs and use analytics tools to gather insights that inform their product decisions.
A great example is Spotify’s use of data to personalize the user experience. The product team at Spotify leverages vast amounts of user data to create personalized playlists like Discover Weekly, which has been a massive success in terms of user engagement. This data-driven approach helps Spotify continually refine its product to better serve its users.
Data-Informed Intuition in the Top 1%
Top 1% PMs are also data-driven, but they complement this with strong intuition. They know when to rely on data and when to trust their instincts, especially in situations where data might be limited or not yet available. This balance allows them to make bold decisions that might not be immediately apparent from the data alone.
Case Study: Airbnb and Market Creation
When Airbnb was first launched, the concept of sharing your home with strangers was a radical idea. The data on whether people would actually use such a service was non-existent. However, the founders, particularly Brian Chesky, relied on their intuition and a deep understanding of human behavior to push forward with the idea. Their decision to focus on building trust through user reviews and the host guarantee program was key to overcoming initial skepticism and creating a new market.
6. Ownership Mindset
Ownership in the Top 10%
Top 10% PMs exhibit a strong ownership mindset. They take responsibility for their products’ successes and failures and are deeply invested in their products’ long-term growth. They are proactive in solving problems and ensuring that their products deliver value to both customers and the company.
For instance, the team behind WhatsApp demonstrated a strong ownership mindset by continuously refining their product to ensure it was fast, reliable, and user-friendly, despite having a small team and limited resources. Their focus on simplicity and reliability helped WhatsApp become one of the most popular messaging apps globally.
Extreme Ownership in the Top 1%
Top 1% PMs take ownership to an extreme level. They don’t just see themselves as product managers—they see themselves as the CEO of the product. They are willing to take bold risks and make tough decisions to ensure their product’s success. They are deeply involved in every aspect of the
product, from strategy to execution to marketing.
Case Study: SpaceX and the Ownership Mindset
Elon Musk’s approach with SpaceX is a prime example of extreme ownership. Musk has been intimately involved in every aspect of SpaceX’s development, from the technical details of rocket design to the broader vision of making humanity a multi-planetary species. His willingness to take on significant personal risk, both financially and reputationally, is a hallmark of his extreme ownership mindset. This has driven SpaceX to achieve feats that were previously thought impossible, such as landing reusable rockets.
Best Practices for Aspiring Top 1% PMs
If you’re a product manager aspiring to join the ranks of the top 1%, here are some best practices to consider:
- Cultivate Visionary Thinking:
- Stay ahead of industry trends and think about how emerging technologies or changes in customer behavior might shape the future.
- Spend time imagining what your product could become, not just what it is today.
- Develop Transformational Leadership Skills:
- Work on inspiring and motivating your team, not just managing them.
- Focus on building influence across the organization, so your vision for the product can be supported at all levels.
- Foster Customer Obsession:
- Regularly engage with customers to understand their needs deeply, but also think beyond their current pain points.
- Anticipate future needs and build products that customers will love before they even know they need them.
- Prioritize Smart Execution:
- Be strategic about what to build and when. Focus on delivering the most impact with the least effort.
- Embrace agile methodologies and be ready to pivot when necessary.
- Balance Data with Intuition:
- Use data to inform your decisions but don’t be afraid to trust your instincts, especially when data is scarce.
- Cultivate a deep understanding of your market and customers, which can guide you when data falls short.
- Embrace Extreme Ownership:
- Treat your product as if it were your own company. Take responsibility for its success or failure.
- Be willing to make bold decisions and take risks to ensure your product’s long-term success.
The distinction between the top 1% and the top 10% of product managers is a combination of mindset, skills, and behaviors. While both groups are highly competent and successful, the top 1% go beyond the basics of product management to push the boundaries of what’s possible. They are visionaries, transformational leaders, and customer-obsessed innovators who excel at smart execution and take extreme ownership of their products.
Aspiring to join the top 1% is not just about working harder; it’s about thinking differently, taking risks, and continuously pushing the envelope. By adopting the best practices discussed in this article, you can start to cultivate the qualities that will set you apart and propel you to the very top of your field.
