Do you ever feel like you have a target on your back? If you’re a product executive, especially with product management responsibility, you’ve felt the pressure to justify the existence of you and your team at some point. Sure, you can talk to the executive team about efforts underway to define the MVP, groom the product backlog and prioritize features for the next release. But they want something more concrete from you – a clear connection between the investment in your team and the top line or the bottom line results.
It may be tempting to jump to your product or product line profit and loss to justify staffing compensation, return on investment, contribution margin and productivity… However, this can be a big mistake if you haven’t laid the proper foundation and set expectations with your co-leaders and your team.