Hiring a product manager (PM) can be a pivotal decision for a company, particularly when aiming for long-term growth and optimizing product features. Although it might be challenging to quantify the immediate value of a PM, their role is crucial in aligning product strategy with user and company goals, reducing the time to deliver value to customers, and acting as a vital link between customers, engineering, and business functions. Research suggests that successful companies typically hire a PM when there are 10 to 15 engineers and 15 to 25 total employees, although the timing can vary depending on the company’s growth stage and priorities, such as achieving product-market fit. Six signs indicating it's time to hire a PM include shipping low-value features, decision-making bottlenecks, overloaded teams, inconsistent product strategy, launching new products, and unclear product strategy. To ensure the new PM’s success, clarity of role, alignment with leadership, and the right level of accountability are essential, along with ensuring the PM has strong communication, technical knowledge, strategic thinking, and leadership skills. The timing of hiring a PM should consider the company's unique needs, stage of growth, and specific challenges to effectively elevate both product and business.