Many great products fail—not because the idea was bad, but because the execution was flawed. Often, this happens when there’s no clear Product Manager role guiding the team.
Entrepreneurs often underestimate the importance of the Product Manager (PM) role or don’t fully understand what it involves. Yet, the PM is the backbone of any successful product. They ensure the product meets both business goals and customer needs.
In the early stages, many founders naturally step into the PM role. But without a clear understanding of its responsibilities, this can create gaps that harm the product and productivity of the team. If you don’t have a dedicated PM, it’s essential to learn the basics of this role—it can make or break your product.
Before diving into the PM role, make sure you’re familiar with the Product Development Lifecycle. It will help you understand how all the pieces come together.
As a Product Manager, you are at the center of the Market, Business, and Technology.
As an entrepreneur, you may already excel in handling market and business needs. However, product and tech skills are where many entrepreneurs fall short. Without proper Product Management—or a clear understanding of what the role entails—the product suffers, and the team becomes unproductive.
A Product Manager’s job boils down to answering one critical question: What needs to be built, and why?
Here’s what that looks like in practice:
Here are some of the key tasks a Product Manager should handle:
Taking on the role of Product Manager is both challenging and rewarding. With the right understanding, you can effectively guide your product and team toward success.
Great products aren’t built in a day, and the right methodology ensures smooth execution.
You don’t need to become an expert in these methods, but understanding the basics will make it easier to engage with your team and guide the process effectively.
At MVP Masters, we use Shape Up. A framework for lean product management developed by Basecamp, a software company that makes a project management software.
As a Product Manager, you need to be familiar with tools that streamline every stage of product development.
There’s a tool for everything and you have to be familiar with those:
Get the full tool list we use at MVP Masters, categorized according to the Product Development Lifecycle.
If you’re an entrepreneur planning to build a product, don’t start without understanding the Product Manager role—or hiring one for your team. It’s a key role that directly impacts your product’s success.
For a deeper dive, I recommend reading two articles by Pawel Huryn: What is Product Management and The PM Competence Map, which outline the essential skills and knowledge required for effective product management.