Just as farmers understand the perfect moment to sow seeds for a bountiful harvest, tech founders need to discern when to hire their first product management talent, assuring a prosperous venture. Today, we delve into the intricate topic of hiring your first Product Manager (PM).
In every startup, the founder often takes on multiple roles. One of these roles, crucially, is that of the first Product Manager. They translate passion into a clear vision, understanding the nuances of customer problems and suggesting intuitive solutions. However, passion and action are two different terrains. While the founder's zeal is invaluable, there's a vast expanse between conceptualizing a solution and materializing it. This gap often reveals itself when founders, abundant in vision but limited in product-building experience, grapple with technical nuances.
Budgetary constraints are common in startups which is the main reasons that most people don’t hire a Product Manager. If you find yourself in this situation put in the work to learn some of the basics. The digital realm is rife with resources. From enlightening blogs and podcasts to informative books and online courses, there's a plethora of avenues to explore. Armed with resilience and adaptability, founders can absorb Product Management principles, refining their approach. This self-driven education not only addresses immediate needs but pays dividends in the future. The time invested today will sprout tomorrow, enabling founders to communicate effectively with seasoned PMs and build a cohesive team.
While founders' vision drives a startup, there comes a moment when external expertise becomes indispensable. This moment typically happens when the demands of the rest of the business also stack up whether it is sales, marketing, operations, raising new funds or something else become too great. You need to stay close to the product, but start to delegate control and authority to others. You will have to fight that instinct to want to be in control. Striking a balance between retaining control and seeking specialized knowledge is paramount. The iterative process of building a product, infusing feedback, and tweaking it for perfection demands a keen understanding. Bringing in the right expertise at the right time can be the difference between stagnation and exponential growth.
Financial considerations are always at play, but it's imperative to understand that value often trumps cost. While a tight budget might tempt founders to opt for affordable options, the repercussions of a misfit can be dire. An aligned, experienced PM not only complements the founder's vision but can drive the product to new horizons.
If you have never had experience hiring a product manager, reach out and utilize a resource who has deep experience with product management team hiring. Not every PM is created equally and different company stages require different types of PMs. You are responsible for the decision, but having a partner to help educate and guide can pay dividends over time on these decisions.
When funds permit, founders have a few pathways. The right path for you will depend on different factors, but know that you have options:
a) Full-time Experienced PM: This is the most commonly thought of and can be a great option. This is about commitment—onboarding someone who will live your product day in and day out, offering dedicated insights. Your business commitment is high here and be prepared for it. Product Managers you hire are wanting a level of autonomy to make decisions about the product. You will need to give them space. And if it doesn't work out, you might have to make hard decisions about letting them go.
b) Hire a Product Coach: Gaining perspective. If you want to continue to maintain close control over your product, but need some guidance, hire a product coach. An expert can illuminate potential pitfalls, providing guidance based on their vast experience. Understand that you are not delegating the work, you are just learning how to be more efficient and effective, and have someone to help guide you through decision making.
c) Part-time High-Caliber PM (Your Product Partner Sidekick): This offers the best of both worlds—a seasoned PM's insights without the full-time commitment, making it ideal for startups watching their burn rate and a founder who just needs to off-load some of the work. This is your product side-kick, they are not making all the decisions, but working with you to make the best decisions. Additionally you can learn from this PM along the way. Learn how they work, and understand why they do what they do. And if things work out, maybe you can hire them full time!
Starting a tech company is a lot like growing a garden. As founders, you start as the first Product Manager, planting the initial seeds of your idea. Knowing when to ask for expert help, choosing the right PM based on what your startup truly needs, and understanding the different options available are all critical steps in your journey. Each decision you make during these early stages can set the course for your startup's future. Always make choices with care, knowledge, and a clear view of your vision. This way, your startup won't just grow—it'll flourish.
Image Credit - 경복 김
