At Percolate we look for five things in product managers: Leadership, ability to get things done, communication skills, engineering knowledge, and product sense. The last is, in my ways, the toughest to interview for as part of what you’re looking for is whether or not someone has a product intuition: Do they have an innate understanding of what makes a great product? This article on how to build great products has some good things to say about where that intuition comes from and how to tune it.
On the value of talking to people:
The best way to build this intuition is to talk to a lot of people. Talk to potential users. What do they think? Talk to people who tried to build a product in your space and failed. What can you learn from their failure? Talk to competitors. How do they approach the problem? Talk to engineers in big companies. What can they tell you about the state of technology? Talk to other entrepreneurs in adjacent spaces, investors, journalists, grad students, professors, even the naysayers. The best way to get a sense of taste in a given space is to inject yourself into the industry and talk to as many people as you can.
On making sure you understand who you’re talking to and separating signal from noise:
Beware of noise. Learn the difference between your users and people who are just commenting. Everyone you talk to will have an opinion. Early on it can be tempting to design a product based on feedback from industry pundits. But a feature is only a gamechanger if the person signing the proverbial check recognizes it as one. Otherwise, it’s a distraction. Industry pundits can be extremely useful for understanding the state of your field, but they’re rarely the ones to buy your product. If you design your product around their feedback, you’ll find that there is nobody to buy it in the end.
(Further on this one is the “5 whys,” which is a Six Sigma approach that suggests asking why five times to understand the root of the challenge/opportunity to ensure that you’re solving for the right things.)
The how to build great products article also offers up a really nice framework for thinking about the different categories of features and products:
A gamechanger. People will want to buy your product because of this feature. A showstopper. People won’t buy your product if you’re missing this feature, but adding it won’t generate demand. A distraction. This feature will make no measurable impact on adoption.
Finally, I should mention that if you’re a product manager looking for a new job, you should apply to work at Percolate.