Utilizing Interim/Fractional Product Executives
During economic downturns when budgets and resources are tight, companies can struggle to maintain their product strategy and momentum. Yet it is during these times that having the best product to drive revenue is crucial to a company's survival. Speed to market and value is a top priority in the short term, whether it's new features or a product launch. The ability to release new products can also be a significant advantage when your competitors are slowing their product cadence. New products lay the foundation for long-term growth and market leadership.
There is a solution that can help companies navigate these challenging times - bringing in an interim or fractional product leader or a product management consultant. Interim or fractional product leaders can add tremendous value to a company, especially in a turbulent economy.
Here is how:
Flexibility: An interim or fractional product leader can provide the flexibility that a company needs without the overhead of a permanent hire. They can scale up or down as needed depending on a company's budget and resource constraints. This flexibility allows a company to maintain its product strategy and momentum, even during challenging times.
Strategic Guidance: An interim or fractional product leader can draw on their experience and expertise to provide strategic guidance to a company. They can help develop a product strategy aligned with the market and customers' needs. This guidance can help a company stay focused on what matters most and to avoid costly mistakes.
Experience: An experienced interim or fractional product leader brings a wealth of knowledge and skill to a company. They have worked with a variety of businesses, markets, technologies, and products, and they can leverage this experience to help a company navigate challenges and identify opportunities. Likewise, their knowledge spans many frameworks and methodologies that they can use to mentor the team, adapt, and implement to drive effectiveness and efficiencies - helping speed time to market and value.
Objectivity: An interim or fractional product leader can provide an objective perspective to a company. They are not tied to a company's culture or politics and can provide honest feedback and recommendations.
Outcomes-driven: An interim or fractional product leader is outcomes-driven. Their focus is on achieving a company's goals and objectives, and they will work tirelessly to ensure a company's product strategy is successful.
If your company is struggling to maintain its product strategy and momentum with limited resources, consider bringing in an interim or fractional product leader to help guide you through these challenging times. They can cost-effectively and flexibly provide enormous value through guidance, experience, objectivity, and an outcomes-driven approach ensuring tactical execution to deliver near-term value and strategic positioning for long-term success.
Originally published on LinkedIn.