Killer Ways To Make Partnerships Work For Product Managers

Product managers play a vital role in driving the success of a company. They are responsible for ensuring that the right products are developed and delivered to the market. However, they cannot work in isolation. To succeed, product managers need to forge strong partnerships with various teams and stakeholders, both internally and externally.

Why are partnerships important for product managers?

When it comes to product management, partnerships can make or break the success of a product. By collaborating effectively with other teams and stakeholders, product managers can gather valuable insights, align goals and expectations, and leverage expertise from different domains. This can lead to better decision-making, smoother project execution, and ultimately, superior product outcomes.

Killer Ways To Make Partnerships Work For Product Managers: Techniques For Product Managers To Find Ways To Work With Others In Order To Make Their Product Successful

by Jim Anderson (Kindle Edition)

5 out of 5

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Here are some killer ways for product managers to make partnerships work:

1. Build strong relationships with cross-functional teams

A product manager's success heavily relies on their ability to collaborate with cross-functional teams. This includes engineering, design, marketing, sales, and customer support. By establishing strong relationships with members of these teams, product managers can ensure effective communication, foster trust, and promote a collaborative work culture. Regular check-ins, team-building activities, and sharing knowledge and resources are some ways to create a positive cross-functional partnership.

2. Engage with customers and user communities

Product managers need to understand the needs and pain points of their customers. By engaging with customers directly, product managers can gather valuable feedback, identify areas for improvement, and make data-driven decisions. They can leverage customer insights to prioritize features, enhance user experience, and build customer-centric strategies. Engaging with online user communities, conducting user surveys, and organizing customer-centric events are effective ways to foster partnerships with customers.

3. Collaborate with vendors and suppliers

Partnerships with vendors and suppliers play a crucial role in product success. Product managers need to establish strong relationships with these partners to ensure timely delivery of high-quality components, negotiate favorable terms, and access the latest technological advancements. By fostering partnerships with vendors and suppliers, product managers can also stay updated on industry trends, manage risks, and optimize the supply chain. Regular communication, joint planning, and performance reviews are key to building successful partnerships in this realm.

4. Leverage strategic alliances and industry partnerships

Strategic alliances and industry partnerships can provide product managers with access to new markets, technologies, and specialized expertise. By collaborating with other companies in complementary domains, product managers can expand their product offerings, reach a broader customer base, and drive innovation. However, it is crucial to carefully evaluate potential partners, establish clear objectives and expectations, and draft well-defined agreements to ensure successful and mutually beneficial partnerships.

5. Be a proactive communicator and influencer

Effective communication is key to successful partnerships. Product managers need to proactively share information, provide regular updates, and ensure that all stakeholders are on the same page. They must also harness their influencing skills to drive alignment, gain support for their ideas, and resolve conflicts. By being proactive communicators and influencers, product managers can build trust, inspire collaboration, and gain the support necessary to drive product success.

6. Foster a culture of continuous learning and improvement

Partnerships thrive in a culture of learning and improvement. Product managers should encourage a growth mindset within their teams and among partners. This involves promoting knowledge sharing, encouraging experimentation, and embracing failure as an opportunity for learning. By fostering a culture of continuous learning and improvement, product managers can inspire innovation, enhance productivity, and strengthen partnerships.

In , partnerships are the lifeblood of successful product management. By building strong relationships with cross-functional teams, engaging with customers and user communities, collaborating with vendors and suppliers, leveraging strategic alliances, being proactive communicators and influencers, and fostering a culture of continuous learning and improvement, product managers can maximize their impact and drive exceptional product outcomes.

Killer Ways To Make Partnerships Work For Product Managers: Techniques For Product Managers To Find Ways To Work With Others In Order To Make Their Product Successful

by Jim Anderson (Kindle Edition)

5 out of 5

Language	:	English
File size	:	2895 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	82 pages
Lending	:	Enabled

FREE

Who was it that said "It take a village…"? They may not have been talking about being a product manager, but they might as well have been. Life has become so complex that product managers can no longer make their product a success just by their own efforts. Today it takes the help of one or more partners to get your product to where it needs to be. Are you going to be ready to work with those partners?

What You'll Find Inside:

• FORCE MAJEURE: WHAT IS IT AND WHY CARE?
• 4 THINGS PRODUCT MANAGERS NEED TO KNOW ABOUT BUYING ANOTHER COMPANY
• NETFLIX TEACHES PRODUCT MANAGERS A LESSON
• PARTNERSHIPS THAT DON’T WORK OUT FOR PRODUCT MANAGERS

One of the first things that product managers learn about working with partners is that we always need to have a signed contract with them. An often overlooked part of such contracts is the "force majeure" clause – product managers need to know what this really means. Product managers can learn by watching how other firms, such as Netflix, work with partners to become successful.

Product managers need to decide if they are going to be willing to work with other firms. Yes, they will be giving up some control of their product. However, like Taylor Swift and her battles with partners, they may be gaining more control over the product's success in the end.

What product managers need to realize is that not all partnerships will work out. Even at giant companies like Amazon, there will be partnerships that initially appear to be a good idea but which go bad. Learning how to use partners to tap into new markets, like India's Paytm mobile payment system has done, is the key to making your partnerships work out for you.