1. Market, Product, Responsibility:
Good PM knows the market, the product, the product line, and the competition extremely well and operates from a strong basis of knowledge and confidence, is the CEO of the product. Good PMs take full responsibility and measure themselves in terms of the success of the product, is responsible for the right product/right time and all that entails. A good PM knows the context going in (company, revenue, competition, etc.), and they take responsibility for devising and executing a winning plan (no excuses).
Good PMs are not part of the product team; they manage the product team. Define the “what” and manage the delivery of the “what”.
3. Communication, Planning:
Good PMs communicate crisply in writing as well as verbally. Don’t give direction informally, they gather information informally. Good PMs create collateral, FAQs, presentations, and white papers that can be leveraged by sales, marketing, and executives. Good PMs anticipate serious product flaws and build real solutions. Good PMs take written positions on important issues (competitive silver bullets, tough architectural choices, product decisions, and markets to attack or yield).
4. Focus, Value:
Good PMs focus the team on revenue and customers. Good PMs define good products that can be executed with a strong effort. Good PMs think in terms of delivering superior value to the marketplace during product planning and achieving market share and revenue goals during the go-to-market phase.
5. Problems, Press:
Good PMs decompose problems. Good PMs think about the story they want written by the press. Good PMs ask the press questions. Good PMs assume members of the press and the analyst community are really smart. Good PMs err on the side of clarity. Good PMs send their status reports in on time every week because they are disciplined. Good PM defines their job and their success.