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.
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Beyond vision and roadmaps, a CPO’s fundamental role is to act as a steward of the company's R&D investment. The primary measure of success is the ability to ensure that every dollar spent on development translates into tangible, measurable enterprise value for the business.
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.
Bupa's Head of Product Teresa Wang requires her team to explain their work and its value to non-technical people within three minutes. This forces clarity, brevity, and a focus on the 'why' and 'so what' rather than the technical 'how,' ensuring stakeholders immediately grasp the concept and its importance.
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.
As you move up the product ladder, your strategic time horizon expands. ICs and Directors focus on quarters, VPs on the year, and CPOs must own the 3-5 year vision. Thinking long-term is a core CPO responsibility that no one else in the product organization will own.
A product vision won't stick unless it's marketed internally. CPOs should build an internal communications plan using compelling storytelling, multiple formats (video, text), and frequent repetition. This marketing-like approach is essential to rally the organization and ensure the strategy is remembered and acted upon.
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.
Sellers often adopt an overly formal, academic persona when speaking to executives, which creates distance. In reality, executive conversations are simple, direct, and unpretentious. Drop the jargon and complicated words. Your goal is clear communication, not demonstrating your vocabulary.
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.
