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I’ve been deeply interested in understanding what actually makes a platform business a platform¹ business ?— are there any patterns? How do platform businesses actually win? Is there something unique about them or is it all just branding? This is a particularly insightful question to ponder on as, if you talk to any company today , you are certain to hear “ we are a platform”:). Everybody wants to be a platform or at least positions themselves as one. How does one separate the wheat from the chaff?
You’re the first PM at a startup. You are a small company with one product, searching for product market fit. You grind and preserve and you achieve the holy grail of product market fit. CEO walks over and says “It’s time to start scaling, give me a plan, how are you going to scale the product management team? Let’s chat in a few days”. At this moment you are probably thinking “whoa what? team? There is going to be more of me (PMs)?”
How can I do it? So many questions. Where do I start? How do I hire? What do I do?
Have no fear, read on.
The Myers Briggs Type indicator (MBTI) is used to understand your personality type. The idea behind the indicator is that if you understand your personality and default preferences then you are able to play to your strengths. In addition, by knowing your team’s preferences, you can communicate better with your teammates and thus become a high performing team.
In the fintech businesses the core product is money. Money is a commodity — and when the core product is a commodity, what provides strategic advantage?
There are three strategic components that have to be nailed to be successful in the fintech business.
This post is all about the close. What are the key areas you should focus on to make the hire?
Open access to the management team
Now that you have all the meat of what you want to do mapped out, it’s time to put the pieces together and orchestrate an execution plan. Continue reading “The ultimate guide to product management hiring, Part 3: Execute Execute Execute”
This post is #2 in the series of “The ultimate guide to hiring PM’s”. Post #1 is here.
Continuing with the theme of approaching the hiring process as a product, the hiring process has two main goals:
- Targeting: Find the right person. Create an efficient interview process that provides a full view of the candidate.
- Conversion: Reduce the candidate’s friction. Once you have decided you want a person on your team, ensure you have the best method to convert the user (candidate) to a customer (full time hire).