A Remote Product Manager Is Key to the Growth of Your Startup

Product managers are responsible for creating a new product and successfully bringing it to market. This requires an understanding of multiple domains, with business and marketing as the base. Depending on the product's specific features, knowledge in programming, engineering and design may also be necessary.

The main task of a product manager is to generate an idea, create a product launch strategy, and recruit a team of specialists with whom to plan, implement and monitor the tasks. This profession is complex and intense by nature, but offers fulfilling rewards.

Advantages of a Remote Product Manager

Not all companies can afford to hire a staff of specialists at the startup stage. Some managers decide this is unnecessary and hire remote employees in areas such as accounting, marketing, advertising, and programming, and also outsource b2b lead generation. 

If you plan to make your business grow, and are looking for profitable solutions, a remote product manager will solve all your problems. Here are the main advantages of hiring a product manager on a remote basis:

• Performing highly specialised tasks - most managers providing services remotely have already built up an impressive experience. They can distribute time competently without violating deadlines.
• Saving labour resources - you do not need to increase the staff
• Reduced financial costs - the cost of various deductions, mandatory for staff members, are automatically eliminated
• Freedom of communication - a remote product specialist may answer questions and requests at any time of the day because there is no strict schedule
• Efficient work - a remote product manager solves the problem and gets paid. The scheme is as simple and transparent as possible.

For a startup, a remote product manager is considered the best option. It allows a fast start of the product without wasting time searching, hiring full-time specialists, equipping a working place, and constantly monitoring the work. The project manager demands results, and the product manager provides a report, drawing a complete picture of the work done.

The Product Manager’s Role in the Growth of a Startup

The most important task of a product manager in a startup is to create and market the product. This role requires an immense amount of work and responsibility. Finding the perfect Product Market Fit - where users are willing to pay for a product that meets their needs - is among a product manager's most critical objectives.

For a startup, having access to a product management consulting service and an experienced specialist is essential. A product manager's duties include:

• Developing a product idea.
• Searching for and guiding developers.
• Forming a product management team.
• Testing the product.
• Writing product specifications.

On top of this, a product manager must locate and establish channels for acquiring customers, strategise the design of sales funnels, and refine and expand product features.

A product manager plays an absolutely crucial role in a startup. All of the carefully crafted and planned features need to be properly categorised. Startups, however, exist primarily as projects designed to appeal to investors, so it's important to select only those features that do not require a large financial investment upfront. Only after investor interest has been piqued should more expensive features be pursued. 

And of course, a product manager also works with potential investors, preparing presentations about:

• what the product represents
• problems that it is capable of solving
• the target audience that it is capable of attracting
• main competitors
• planned ways of earning money.

A product manager must develop several strategies and understand when it is necessary to make a pivot. Such a drastic shift, which essentially requires a complete 180-degree turn in the product's path, can mean the difference between success and failure for any version of the product. Taking this step too soon can prove disastrous, rendering the whole concept null and void even before it has had an opportunity to take off.

Naturally, an experienced product manager builds their work and the team's work so that it is guaranteed to avoid a point of no return and startup failure.

What Skills a Product Manager Should Have

The set of skills a product manager should have is directly related to the tasks that need to be solved. Re-reading job descriptions can give the impression that companies are listing generally arbitrary requirements without a clear understanding of what they are seeking, but this is not necessarily true. The tasks a product manager needs to carry out depend heavily on the product, features, and characteristics.

Speaking of the skills that are guaranteed to be necessary for a product manager, without considering the specifics of the product, it is worth mentioning the following:

• well-developed imagination - search for non-standard solutions, own vision of the specifics and advantages of the product
• ability to conduct competent market research - to study the user's needs, look at the competitors, analyse and make the correct conclusions
• interpersonal skills - a product manager must constantly work with a large number of people, participate in all discussions, meetings, brainstorming and easily handle conflict situations
• strategic thinking - a strategy for the exit and promotion of the company must calculate several options for developing events.

Working as a product manager requires self-development and constantly updating knowledge. It's important to stay in tune with the desires of consumers, and keep up with ever-evolving standards and fluctuating preferences in order to remain ahead of the curve.

In addition to general knowledge, a product manager should have specific skills. Their specifics depend on the startup's direction and the manager's requirements. Specialists should be well-versed in different areas such as marketing, finance, programming, UX/UI, design basics, SEO promotion, and SMM marketing.

The Salary Level of a Product Manager in the World

The role of product manager is one of the most sought-after professions in the world today. This profession is becoming increasingly popular due to its vast scope of responsibilities and high salaries.

The salary depends on several factors, including experience and the position held. On average, a product manager can earn yearly:

• in Australia - from $90,847 to $148,925
• in Britain - from $62,963 to $94,453
• in Germany - from $66,217 to $101,615
• In the USA - from $83,994 to $125,366

The prospect of career growth is quite attractive. Initially, the path in product management begins with a junior manager, who gradually grows into an SRO by gaining experience and skills. It all depends on the ambition and desire of the specialist. 

A remote product manager provides an invaluable opportunity to transform a startup into a successful, fully-developed business. A true professional will be able to craft an idea that captures the attention of potential customers. The success of the venture, the level of investment secured, and the potential for further product growth all depend on the quality of work, requiring precise and effective coordination. Therefore, those who wish to bring their ambitious startup vision to life must strongly consider hiring an experienced product manager for their team.