5 Key Takeaways In ProductPlan's State of Product Management 2021

My takeaways from ProductPlan's State of Product Management 2021 (source link in the comments, it's a valuable read)

‍

1) Over 30% of surveyed PMs hoped for clearer purpose & strategy this year

Product direction is usually lost when too many stakeholders have their hands on the steering wheel.

‍

2) Over 40% of PMs face impostor syndrome

It's natural to feel overwhelmed when everyone expects you to know all the answers. However, PMs should channel this feeling towards being more diligent (rather than get sucked in an unhealthy vortex of doubt)

‍

3) The primary product success metric of 33% of PMs is business-oriented (e.g. revenue, CAC, churn etc.)

Product metrics like adoption/uptake are important, but PMs need the business context too. Understanding business OKRs from top-down help in prioritization too.

‍

4) The #1 resource 30% of PMs plan to allocate budgets to is Product Stack tools

I reckon product analytics tools would be a popular pick here to aid decision-making.

‍

5) 1 out of 4 PMs plan to start their own company in 10 years

If you're a full-stack PM that leverages the entire org, then the discipline serves as a great predecessor to an entrepreneurial journey.