One Knight in Product

Rich Mironov - Product Managers Need to Understand the Language of Money (with Rich Mironov, Author and CPO Coach)

23 snips
May 8, 2025
Rich Mironov, a B2B product management expert and author of "The Art of Product Management," shares insights on bridging the gap between product teams and executives. He emphasizes that leaders care more about financial success than product creation nuances. Mironov argues for improved financial literacy among product managers and the need to communicate in terms executives understand. He also discusses his recent move to Portugal, highlighting cultural adaptation and its influence on product culture.
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INSIGHT

Executives Care Only About Money

  • Executive teams don't care how products are made; they care only about how products generate money.
  • Product managers must shift focus from craft to financial impact to be taken seriously and keep their jobs.
ADVICE

Build Coalitions Early

  • Build internal coalitions early by engaging key executives before meetings.
  • Align with finance and marketing to gain support and avoid being the lone dissenting voice against risky deals.
ADVICE

Understand Company Financials

  • Product managers must learn how their company makes money, including pricing and growth levers.
  • Without financial literacy, they cannot make good product decisions or have top-level impact.
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