Short Stuff: From Renter to Owner
Why an Ownership Mindset Will Improve Your Product Career
Hi there!
Before you read today's post, I want to let you know that there will be a group mentorship session this Saturday.
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Success in Product Management isn't just about meeting job descriptions or ticking off tasks; it's about owning the process, the outcome, and the impact.
As product managers, we hold a pivotal role in shaping the direction of products, driving innovation, and ultimately, delivering value to customers. But what sets apart the great from the good? It's the mindset – the difference between being an owner and a renter. The difference between these two mindsets can shape your career trajectory, impact your team, and ultimately influence the success of the products you build.
Let's unpack these mentalities:
The Renter Mindset: A renter PM treats their role like a temporary residence. They do the bare minimum outlined in their job description, focusing on completing assigned tasks and disengaging from the larger picture. They view problems outside their immediate scope with an "us vs. them" mentality, more interested in pointing fingers than finding solutions.
The Owner Mindset: An owner PM embodies a sense of deep responsibility for their product. They're proactive in identifying problems, go the extra mile, and see the success of their team and product as intrinsically tied to their own. This doesn't mean overworking or taking on everyone else's job – it's about a mindset shift toward investment and initiative.
Key Differences between a Renter PM and an Owner PM
Now, let's be clear: there's nothing inherently wrong with having moments where you need to operate in "renter mode." Product management is a very demanding role, and sometimes it's necessary to focus on executing your core priorities. However, consistently demonstrating an ownership mindset is where you unlock both personal and product growth.
Why You Should Prioritize Ownership
Accelerated Skill Development: When you view your product as "yours," you're compelled to dive deeper into all aspects of its development. You'll troubleshoot problems beyond your usual purview, gain a stronger understanding of the market, and develop a richer toolkit as a result.
Increased Visibility & Impact: Owners naturally become go-to resources. They're proactive about sharing insights, which elevates their standing and allows them to make a greater impact on product strategy.
Career Advancement: Leaders recognize ownership. Your willingness to step up will be noted, opening doors to more responsibility, interesting projects, and promotions.
Team & Product Success: An ownership mindset is infectious. Working alongside owner PMs inspires others to raise their game, fostering a collaborative, solution-oriented environment where everyone benefits.
From Theory to Practice: Embracing Ownership in Your Daily Work
So, how do you actually cultivate an owner mindset on a day-to-day basis? Here are some actionable ways to make the shift:
Connect to the Bigger Picture: Don't just understand your tasks; understand how they ladder up to your product's goals, and ultimately, the company's mission. How does your work make a real difference for users?
Be a Curiosity Dynamo: Ask questions, dig into data, and connect with other teams. Look for gaps in knowledge not just about your domain, but about the market, competitors, and the end-to-end user experience.
Step Outside Your Lane, Strategically: When you see a problem or a potential opportunity, don't just wait for someone else to address it. Think critically - could you gather more data, brainstorm potential solutions, or even take the lead on fixing it in collaboration with others?
Proactive Communication: Owners keep stakeholders informed. Share insights, pre-empt concerns, and involve collaborators early and often. This builds trust and makes you a valued strategic partner, not just a task executor.
Solution-Focused Feedback: When you raise issues, always come with at least one potential or proposed solution. It demonstrates critical thinking and your commitment to making your product better. If you cannot do that, then you should learn how to frame problems properly.
Be a Team Player: Help your fellow PMs, champion cross-functional initiatives, and share knowledge freely. Remember, a rising tide lifts all ships – your product will thrive when your team does.
Important Caveats:
Balance Ownership with Boundaries: Being an owner doesn't mean being a martyr or taking on unrealistic workloads. Learn to set boundaries, delegate, and say "no" when absolutely necessary.
Find a Company that Rewards Ownership: Unfortunately, not all companies value this mindset. Look for cultures that actively encourage initiative, provide opportunities to step up, and recognize those who put in the extra effort.
The choice is yours. Do you want a product career that's merely transactional, or one that fuels your growth and amplifies your impact?
Ownership takes time and deliberate practice. You'll have setbacks, but the rewards far outweigh the effort.
I’d like to hear from you. What topic would you like me to write about next? You can leave a comment or email me directly at koopernanya@gmail.com or theproductgist@gmail.com