Product management is a complex, high-stakes role, with the potential success or failure of a product often hinging on a Product Manager's capabilities. As Product Leaders, we must recognize and address the unseen ways in which our full-time Product Managers' most valuable asset—their focus—is being silently drained, inadvertently diminishing our return on investment (ROI).
Is there a solution to this covert crisis? Could an emerging role in the industry, the Fractional Product Manager, be the key to unlocking this conundrum? Before we dive into that, let's explore the ways your team might be unknowingly experiencing this silent drain on ROI:
1) Important but Not Relevant Projects to the Core Value of the Business: Tasks such as integrating third-party services, enabling Single Sign-On (SSO), building dashboard analytics, or complying with regulatory changes are crucial, but they do not directly contribute to product innovation. They are a silent drain on your ROI. While these tasks have to be completed, they often pull Product Managers away from working on key strategic initiatives.
2) Risky Bets: Occasionally, ideas that come with significant associated risk can emerge from the executive team, sales team, or other departments. While these ideas may have potential, they can sidetrack resources and focus away from not only the current revenue-generating products but also from those that are central to the company's growth and future plans, adding to the unseen drain on ROI.
3) Mature Products: Mature products that already have a stable market presence require maintenance rather than innovation. Allocating full-time Product Managers to these products is often a sub-optimal use of their talents. These products need a caretaker, not an innovator, to ensure customer retention, make small improvements based on feedback, and manage the product's graceful decline.
4) Parental or Personal Leave: An integral part of any progressive company's benefits package is parental or personal leave. However, these necessary leaves can create resource management challenges. The go-to solution often involves turning to the highest performers on the team to "cover" during these absences. This approach may work for short periods, but for extended leaves, it can lead to burnout and decreased productivity among your most valued team members.
5) Rushed Hiring Decisions: The pressure to fill an open Product Manager position can sometimes lead to rushed hiring decisions. While it's important to ensure continuity in product management, hastily settling for a less-than-ideal candidate can have long-term implications on your product and team dynamics.
Each of these instances represents an opportunity where a Fractional Product Manager can provide immense value. With their diverse skillset, Fractional Product Managers can efficiently handle the important but not core-value-adding tasks, manage the riskier bets, maintain mature products, provide coverage during personal leaves, and even step in during extended hiring processes.
By delegating these responsibilities to a Fractional Product Manager, you enable your full-time Product Managers to focus on driving innovation and creating strategic value. This approach not only optimizes resource utilization but also maximizes the potential ROI of your team.
Investing in a Fractional Product Manager is a smart, strategic move for any business that values productivity and innovation. After all, in the high-stakes world of product management, success isn't about working harder; it's about working smarter. And leveraging a Fractional Product Manager is one of the smartest moves you can make.
---
About the author:
Brandon Gardner has worked in Product Management for over 13 years. He is the founder of Sembrar (www.sembrar.io) which provides Fractional Product Management services. He is also a co-founder of Product Hive, serving the Product and Design community. With a passion for product innovation and a keen understanding of the product management landscape, Brandon brings a unique perspective to today's product challenges.
*Photo by Damir Mijailovic
