 There are lots of product managers out there, but most of them are not the great product managers. That's why lots of people stay in the current role and stay stagnant for the rest of their career, but very few selected great product managers were able to continue to get promoted much faster within a year or two, maybe three. And that differentiates great product managers versus a bad product manager. And this also leads to some product managers get fired during recessions, some product managers still get continuously promoted and also increase the resume of recessions. In this video, I'm going to share with you the definition of a great product manager and use the real-life example of Google product manager compared with Amazon product manager and share with you why Google failed. And make sure to stay until the end of this video where I share with you the top four elements of a great product manager and why everyone can become a great product manager with the right guidance. Hi, this is Dr. Nancy Lee, a director product and featured in Forbes. I have helped hundreds of product managers land their dream PM job offer in fan companies Unicorn startup and continue to get promoted as a product leader. If you're interested in product management course, please go to PMXVirtual.io. If you want to learn the most effective way to become a product manager, please subscribe to the channel, turn the bell buttons and notify every time I turn on your video every Tuesday. If you like this video, make sure to like and subscribe to the channel so that this is the only way the YouTube algorithm will recognize me. First of all, let's define what is a great product manager. In many companies, the culture really defines what is a great product manager. Use Google and Amazon as an example. In my latest podcast video with a senior director at Google, Ari, he shared lots of insider tips regarding how Google evaluate a great product manager based on what he said. I think fundamentally it's an incentive problem, which is that Google product managers and engineering managers are evaluated based on their shipping products, right? When their annual reviews, when their promotion cycles come up, what do you ship? What do you ship? And they show the big ship, they show like, oh, we released a new messaging app and it was announced on stage at our conference and everyone's excited about it. Based on what Ari said, Google like to promote and highlight product managers who is able to launch a lot of products. So product manager success within Google is based on the number of product launches, but it's not based on the number of users of your product and how successful is a product launch and how much revenue your product was generated. However, in contrast, in Amazon, the culture is completely different. In Amazon, there is a very competitive culture. Every product manager is responsible for end to end product management, which means that after you launch a product, you're responsible for generating revenue. If your product doesn't generate revenue or enough users for the company, you are defined as a bad performance. This means that it's likely you're getting laid off or moved to a very different project in a short amount of time, which also leads to the fact that why Google doesn't have amazing product? As we all know, Amazon's product is actually better and more attractive. For example, Amazon Web Services is better than Google Cloud and Amazon website.com is way better than any kind of other Google product they have. And that explains Amazon continuously to innovate and launch many different successful products such as Amazon.com and Amazon Web Services. However, Google has similar products such as Google Cloud and it's not as popular. Google even discontinues six different kinds of Google products in Q1 2023. It was because Google focused on launching the product without looking at the impact and the revenue and users of the product. Therefore, my definition of successful product manager is someone was able to create amazing product is able to impact people's lives and generate revenue for companies and really push the company to achieve the mission much faster and closer. So comment below. Do we agree with me? And does your company also define product manager based on the number of launches or based on the success of the product? Now let me also share with you what makes a great product manager in real life. Now let's take a look at the four elements of a great product manager. First one, let's look into different examples of career paths of successful product managers. For example, myself, I was able to become a director product within four years and also became one of the youngest director product. For example, my student Mimi Wu, she was able to get promoted within one year within the company. And my student Andruido was able to get promoted from senior director into a VP of product growth in the cloud company. And all of them match the four in four key elements of a great product manager. Number one, customer empathy. Great product manager has a very strong customer empathy. They always want to put the customer needs first over everything else. They're going to fight for the customers and really fill the pain of customers. Second, great product manager knows how to lead without authority. This has been talked about a lot in the product management industry, but very few people was able to execute them very well. Now let me tell you an example of a lead without authority. A great product manager is a quarterback of a football team just like Tom Brady. He had let his team to run many different Super Bowl championships. How did he do it? He was the one who was able to lead the team, even if none of the team members was managed by him. But they look up to his vision, his leadership and his strategy of leading all the members on the football field towards the championship. Same thing as a product manager, we need to know how to lead the vision that other people buy into the vision, make them work harder and happier towards the same mission. Number three, executive presentation. A great product manager knows how to present your product in front of executives, in front of different levels of companies. Exactly presentation is different from public speaking. Public speaking is the foundation of speaking, but exactly presentation second level. For example, if I push you in front of a CEO, you need to quickly describe your product within 1 minute, even 30 seconds. Let's see you know if the product is healthy, what the impact to the company. If I push you in front of VP or product, you probably only have 5 to 10 minutes to tell him what's going on with the product. If I push you in front of the director, you may only have 15 minutes up to half an hour to tell them more about your product. When you talk to peers, you might have half an hour to tell full end to end stories of go-to market strategies, how to build your product in front of your peers. So the executive presentation is a key to helping lots of people get promoted into the next level. But lots of product managers missed this key element of them continuing to grow their career. They put their heads down on your right requirement without thinking about how to talk about their product. If you're interested in having me teaching you exactly your presentation on the channel, please comment in the description and let me know. 4 is time management. This is very difficult. Lots of you guys are product managers, I know this. You spend hours in meetings and you drag into many last-minute tasks and you're not focused on the product vision, product romance. You don't know how did you spend your time and finally you have eight hours meeting every day and towards the end of the day, you still have a bad clock of things you haven't done and you feel so guilty and you were burned out and you want to spend time with your family but you still have lots of work to do. Is this you? I know because you don't know how to do time management, exactly. A great product manager knows how to really manage the time very well. I have 19 productivity tips in this video. You guys should check it out so that you improve your productivity starting from today. If you're interested in continuing learning more about how to be a great product manager, become a product leader. You should check out this product leader newsletter right here. I'm also going to link it in the description of this video. Many of you guys probably made mistakes by accident become a bad product manager and if you want to know in details regarding the differences between good product manager versus bad product manager and 10 different traits between these two, you should check out this video where I describe in details regarding the mistakes bad product manager make that make them not able to become a successful in their long-term career. I'm also going to link this video in the description. If you like the free tips we held you today, make sure to like, subscribe and share this video with any product managers out there. This is DocumenCity from PMExcelerator.io. I'm going to see you in my next video.