Documentation and deliverables

Product managers are often responsible for creating the documentation that defines what a product should be and what it should do. These can include: •Business case: This justifies the investment in a new product. Will typically include competitive analysis, SWOT analysis (strengths, weaknesses, opportunities and threats), estimated cost for development, estimated revenues and when ROI will be achieved. •Business requirements document: A high-level overview of what the product should be and what it should do. •Functional requirements or functional specifications: A very detailed document which describes how the product should work. This may include use cases (which walk a sample user through workflows), design layouts or wireframes, business rules and other technical details.

I recommend: You can purchase a starter kit with multiple product management templates from 280Group.

How do you know if you are ready to hire a product manager?

Oftentimes, as a company grows the founder or president decides that they need one owner who is accountable for the details of the product, to free him/her up to focus on running the business. Signs that you may be ready for a product manager: - You have many ideas about how to innovate an existing product, but are too busy to focus on them - You would like to launch a new or additional product/line, but don't have the bandwidth to manage your core product and focus on the new - Your technologists (engineers, developers etc) are driving the direction of your product, yet they aren't customer-focused - You consistently slip product release schedules, because no one person is accountable for ensuring a successful launch.

I recommend: When evaluating whether you are ready to add a product manager to your team, don't just calculate the work that you are doing.  Often, many team members are compensating for the absence of this role.  Ask your:
-technologists (engineers, developers etc)
-sales person
-marketing manager
for their tasks which are more appropriate for a product manager to fill, to gauge whether you have the need for another full-time employee.

Help wanted: product manager

When a small business is ready to hire a product manager, it’s important to hire a generalist. A good product manager is able to play three roles: •Product management: defining what the product should be and do •Project management: managing the development schedule of a new project and ensuring it is completed on time •Product marketing: supporting the promotion of the product, including writing brochures and web copy and training sales people.

I recommend: To write your job posting for a product management role, start by searching job boards and reading what other employers are looking for.  Then cut and paste the descriptions that describe your need as well.  While the Product Development and Management Association has a job bank, I prefer using Monster.com.  Search for the job title "Product Manager."

How about a consultant?

To be honest, product management is not a discipline that is often outsourced to consultants. Inherent in the role is deep intimacy and ownership over a product or service, which implies "in house." However, there are some firms that specialize in this.

I recommend: 

The 280Group provides consulting for both product management and product marketing.

Business.com provides this list of consultants.

Finally, Pragmatic Marketing provides another list of consultants.