How to stay focused on business value

Product managers play a crucial role in overseeing product roadmaps, strategies, and team priorities, often shouldering the responsibility for both successes and failures. A critical aspect of their role is understanding the customer and problem space to identify opportunities that enhance customer experience and business performance. However, they must carefully prioritize these opportunities to avoid becoming a "feature factory" that chases trends without solving core problems. Business value, defined by impacts on money, people, time, and processes, is a key metric for prioritization. Product managers must evaluate opportunities by translating different types of business value into monetary terms to effectively prioritize initiatives and align with broader business goals. The level of effort required to realize these opportunities is also a significant consideration, guiding product managers in making informed decisions about where to focus resources. By systematically assessing business value and effort, product managers can confidently pursue opportunities that both solve customer problems and drive business growth, while maintaining alignment with stakeholders and team members.