Lakshay and Ivan discuss the role of a product manager, the challenges and frustrations of being a product manager in Hong Kong, and their future plans. They also share their approaches to building a brand for themselves as product managers and validating new product ideas. Lakshay emphasizes the importance of being customer and market-centric, while Ivan shares his experience learning from television shows and building relationships with key stakeholders. They also discuss the challenges of being a product manager in a conservative culture and the importance of being a critical thinker and driving growth.
What inspired you to create content for product managers?
Lakshay was inspired to create content for product managers because he wanted to make the role more accessible to people who are interested in it, including his younger brother who is considering a career in product management.
What is the difference between project management and product management?
Ivan explains that while project management is focused on delivering a specific project on time and within budget, product management is focused on the overall success of a product, including its development, marketing, and sales.
How would you describe yourself as a product manager?
Lakshay describes himself as a product manager who looks at a product from a CEO’s perspective and focuses on its commercialization, marketing, and profitability.
How would you differentiate yourself as a product manager?
Ivan uses the example of a Harley Davidson motorcycle made out of Lego to describe himself as a community-focused product manager with technical skills and the ability to build things in many different ways.
How do you approach building a brand for yourself as a product manager?
Lakshay describes himself as a Google Translate for the market, translating the needs of the market into development features and making the product sellable.
What is the most important theme in translating business and technical requirements?
Lakshay emphasizes the importance of being customer and market-centric, and recognizing the unmet needs of the market.
How do you approach validating a new product idea?
Lakshay explains that he first assesses the idea using his tools and research, and then checks with key stakeholders, both internal and external, to get feedback and modify the idea before getting the ball rolling.
How do you become more diplomatic as a product manager?
Lakshay shares that he learned from watching House of Cards and Suits, and emphasizes the importance of building relationships with key stakeholders, being direct in approaching them, and not being afraid to do what needs to be done for the long-term benefit of the company.
What are the challenges of being a product manager in a conservative culture?
Lakshay and Ivan discuss the challenges of being a product manager in a conservative culture, where people are trained to be efficient workers and not to take risks. They also talk about the importance of being a critical thinker and driving growth.
What is your frustration as a product manager in Hong Kong?
Lakshay’s frustration as a product manager in Hong Kong is that the medical devices industry is heavily regulated, which limits the ability to do a lot of things. He also wishes there were more resources available to help product managers understand the dynamics of the industry.
What are your future plans as a product manager?
Lakshay plans to stick to the medical devices industry but move towards a more technology-driven aspect of it, such as telehealth or medtech. He wants to work for a smaller company that has great ideas but needs help translating them into great products.
What are you working on outside of your job?
Lakshay is working on a side project focused on AI and value investing. He is learning Python and using it to make scripts to compare the top 100 S&P companies and make investment decisions.
