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.

Former BetterRx CEO Ben Clark sees product management as a direct revenue generator. A product manager's core value is finding significant, monetizable customer pain. When they succeed in creating strong product-market fit, it makes the jobs of sales and marketing easier and directly fuels company growth.

Business viability is often siloed to executives or sales, but the product manager and their team ultimately pay the price for failure. PMs must own this risk, tracking metrics like the LTV/CAC ratio to ensure the product is not just loved by users but is also sustainable.

To get buy-in for developer experience initiatives, don't use generic metrics. First, identify leadership's primary concerns—be it market share, profit margin, or velocity. Then, frame your measurements and impact using that specific language to ensure your work resonates.

The 'mini CEO' title isn't about power; it’s about responsibility for a product's financial success. To be effective, leaders must understand cost-to-serve, gross margin, and other financial metrics to make sound business decisions and speak the language of the board.

To bridge the communication gap with leadership, reframe common product metrics into financial terms. Instead of reporting daily active users (DAU), calculate and present average revenue per daily active user (ARPA-DAU). Similarly, frame quality initiatives not as ticket reduction but as operating expense (OPEX) savings.

Product managers often fail to get ideas funded because they speak about user needs and features, while executives focus on business growth and strategic bets. To succeed, PMs must translate user value into financial impact and business outcomes, effectively speaking the language of leadership.

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.