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.

To be truly successful, a product leader cannot just focus on features and users. They must operate as the head of their product's business, with a deep understanding of P&Ls, revenue drivers, and capital allocation. Without this business acumen, they risk fundamentally undercutting their product's potential impact and success.

A one-time meeting with finance is "surface level" advice. To truly build financial acumen, PMs must integrate hard financial targets and business levers directly into their squad's goals. This creates an enduring, operational fluency that informs daily product decisions.

The traditional product management skillset is no longer sufficient for executive leadership. Aspiring CPOs must develop deep expertise in either the commercial aspects of the business (GTM, revenue) or the technical underpinnings of the product to provide differentiated value at the C-suite level.

The biggest skill gap for product leaders moving into the C-suite is financial literacy. Understanding P&Ls, investment models (VC, PE, public), and key business metrics is non-negotiable for effective business leadership at the CPO level, often more critical than deep product skills.

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.

A common pitfall for new CPOs is using product-specific jargon with executives and the board. To be effective, they must communicate as business leaders, focusing on financials, succinct points, and simple customer stories that the entire organization can understand.

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.

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.