Does Your Startup Need a Product Manager?

The modern business environment is very favorable towards new businesses. Prospective entrepreneurs have access to tools, resources, and solutions that can help them set up a new venture. However, setting up a new business is one thing, ensuring it survives the first few months is another. Unless you have an excellent product and a good business plan in place, it can be very difficult to break into a new market. At Pantheras, we encourage new business owners to consider growth product management assistance. If you hire a product manager, you will increase your business's chances of success.

What is a Product Manager?

A product manager is an expert that understands a product. They understand the product concept, its strengths, weaknesses, target audiences, marketability, utility. They know what kind of vacuum the product is designed to fill.Most business owners start a venture based on an idea. They spot a problem and want to design a solution for it. However, designing the best solution requires a lot of planning, research, and innovation. For example, a company may identify that their town has a large number of elderly individuals that need support like grocery or package delivery. Perhaps they want to develop an app or platform that will help these elderly individuals access these services quickly and conveniently.

In such a case, a product manager will look at the common constraints the elderly face when it comes to delivery apps, what kind of services they will need to make the process easier, and what features the app should have to improve the overall user experience. Growth product management professionals will look at these factors and come up with an appropriate solution.

What Do They Do?

Your first product hire will be of material use, helping ensure that you start off at the right foot. Most experts recommend hiring them when you are ready to scale and ready to hand over the product development responsibility to someone else. Here’s a look at what a product manager will do:

• Research the Market –A product manager must understand the product and its purpose before they can recommend improvements. Researching into the market can help them understand the target audience and the vacuum the product is designed to fill.
• Look at the Initial Idea – Most entrepreneurs have a product idea in mind. They may even have a viable product in development by the time they get their first product hire. The manager looks at these initial attempts carefully to understand the original creator’s intention.
• Make Changes to the Product Design – Once the product manager has looked at the initial design and understood it, they can introduce changes that they consider necessary to refine the product and make it even more efficient. This finalized solution is more suitable for the market and is likely to garner more attention.

‍If you need some assistance with startup product management, Pantheras can help. Just visit our website and get in touch with our consultants to know more. They will explain how a product manager can help you provide the best solutions to your customers.