The transition to a public company drastically changes a PM's role. Every initiative, including experiments, must be backed by data and tied to a clear return on investment. The "build for fun" or "hackathon project" mindset disappears, replaced by rigorous financial justification and frugality.

BetterRx CEO Ben Clark made the company product-led by visually mapping the company's workflow with "product" at the start. They reinforced this by structuring all company presentations and reporting to follow this flow, embedding the principle into daily operations rather than leaving it as a tagline.

The core job of a Product Manager is not writing specs or talking to press; it's a leadership role. Success means getting a product to market that wins. This requires influencing engineering, marketing, and sales without any formal authority, making it the ultimate training ground for real leadership.

The 'CEO of the product' metaphor is misleading because product managers lack direct authority. A better analogy is 'the glue.' The PM's role is to connect different functions—engineering, sales, marketing—with strategy, data, and user problems to ensure the team works cohesively towards a shared goal.

Being product-led is not about specific tactics, but about prioritizing customer outcomes. This focus on creating happy customers naturally drives revenue and growth, making the approach universally beneficial for any business seeking long-term success.

The most critical skill gaps for product managers are not technical but relational and financial. The inability to make a compelling business case to diverse audiences and to move from a cost-only to a full profit-and-loss mindset are primary reasons for failure in the role.

Creating products customers love is only half the battle. Product leaders must also demonstrate and clearly communicate the product's business impact. This ability to speak to financial outcomes is crucial for getting project approval and necessary budget.

According to former CEO Ben Clark, a product manager's most crucial "emotional job to be done" is to help the CEO feel they have a partner in growth. Frame conversations not around features, but around how the product strategy directly contributes to the company's growth targets, creating alignment and a sense of shared purpose.

Great PMs excel by understanding and influencing human behavior. This "people sense" applies to both discerning customer needs to build the right product and to aligning internal teams to bring that vision to life. Every aspect, from product-market fit to go-to-market strategy, ultimately hinges on understanding people.