The only power of a product manager is market intelligence—its capture and synthesis, both current intelligence and forward intelligence, and using it to craft a strategy to win.

This applies to PM as well as other product functions: product design, product strategy & analytics, and adjacent functions such as product marketing. User research activities are an example for the product design team. The product team does not code, does not sell, does not operate the business; our only power is market intelligence–how to acquire it instead of pontificating, and how to de-risk and act on our opportunities. 

Consider this quote that is attributed to Jim Barksdale, CEO of Netscape, “If we have data, let’s look at data. If all we have are opinions, let’s go with mine.” 

Today every product team member understands the value of data. However, on occasion when moving fast, the data is not yet available in time for the meeting with the CEO or other stakeholders. So, develop a point of view and have a plan to validate it in the market.

While Mr Barksdale’s quote applies, what’s left unsaid is that the PM and the product team are still accountable for results: driving customer outcomes and business outcomes. 

PS: Check out more articles on building products. I write to pay it forward and to clarify my thinking.