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Do You Need An MBA To Be A Product Manager?

An extremely polarizing topic, the question, ‘Do You Need An MBA To Be A Product Manager?’ is an often asked one on popular forums; the answers range from “No, an MBA won’t help you in any way, and you are better off not spending the money” to “Yes, it’s a must if you want to get hired by large corporations.”

Like most big decisions that individuals need to take as part of their career growth journeys, the answer is really:

It Depends.

Now that may seem like taking the easy way out, but there really is no one single decision that would make sense for every aspiring Product Manager. So, instead of asking if an MBA is essential to become a Product Manager, a better question would be:

What do I lack in my quest to become a Product Manager, and how do I acquire the skills I lack?

When you frame the question this way, you can make a decision that fits your career goals and skill levels, rather than following a generic guideline that may be right for someone else.

A few years ago, getting an MBA was the best way to gain exposure to various business functions and learn skills needed to be an effective product manager. However, there are multiple alternatives available today – working in a startup where every member gets exposed to different aspects, taking online courses, taking specific training programs to build key skills or learn methods, and more.

So, with that in mind, let’s look at some of the skills and qualities you would need as a Product Manager and how you can gain them with/out an MBA.

Joining the dots between Market-Customer-Product-Technology

A good PM needs to map market opportunities, understand customer behavior in the context of that market, visualize the opportunity in the form of the right product – and finally, ensure that the available technology can deliver the product in the form visualized.

An MBA doesn’t teach you to do all of this. However, it can help you learn the tools you need for the first half of the equation, i.e. understanding markets and customers.

Of course, successful managers who do this without an MBA exist, but an MBA can reduce your learning time at work.

The rest of it is a skill acquired over time, learning on the job and supplemented by Product Management training that you can practice at your role.

Communication & other soft skills

PMs necessarily have to work with Sales, Marketing, and Engineering; to do this successfully, PMs need communication skillsbeyond talking – they need to listen, negotiate, harness the power of teams and often, influence using their credibility rather than authority.

Do you need an MBA to acquire these skills? If your communication skills are poor, an MBA can help you polish certain aspects such as presenting ideas well; on the other hand, if you have excellent communication skills, an MBA may not help you much in this area. (And don’t take your own word for it – get an objective person you know to rate your skills).

Product Marketing

Depending on how your company structures its teams, PMs may or may not be hands-on when it comes to Product Marketing. In the Indian context however, most PMs will be deeply involved in some or all aspects of Product Marketing.

This is one area where an MBA can add to your learning, with courses on consumer behaviour, brand management, and marketing communications. Many engineers lack exposure to these aspects of the job, and having some training in them is an asset.

Today, you could also gain some exposure to these using online courses from Coursera or others.

Networking

Till a few years ago, colleges were the best areas to form strong networks. Most of the leading B-schools have strong alumni networks that allow exchange of information about new jobs, and often give visibility into what friends in other industries are up to.

However, today there are a multitude of forums to network within the technology industry like startup events, LinkedIn forums, expert networks and more. While these do not replace the traditional B-school networks, they definitely give a leg up to candidates looking to build their own identity and explore work in other domains.

Graduating from any of the top B-schools could give an edge in getting selected for roles, but a lot then depends on the candidate, his/her domain and functional expertise to clinch the job.

With many startups trying to make their mark in the product space, demonstrating expertise in your known area of work through blogs/forums or by interacting with others in events often throws up job opportunities that you may not be aware of.

The key skills of being a good product manager – intense curiosity to understand how things work, an ability to appreciate context and its effect, the ability to observe keenly, spot opportunities and work to tap them – are not skills that a B-school can teach you.

While a B-school might hone some of your skills, you should take a cost-benefit approach to this and rightly ask – is an MBA worth the money?

Without a huge education loan to pay off, you may decide to take the risk of picking a relatively lower paying job as a product manager for the experience, or maybe start your own firm based on an idea you have.

That would be the first step along thinking like a product manager.

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Five things about Product Marketing you can learn from Chetan Bhagat

As a product marketer specialising in content, I’ve always found it irksome to explain to people just how difficult my craft is, and how much time it takes to do it well. Building a brand isn’t easy; it takes a lot of effort, planning, strategy & execution, and involves as much editing out as it involved creating more. And even then, one misplaced word or misguided blog post can turn around and bite you (a case in point is the much maligned Uber’s Rides of Glory blog post, since deleted).

Product marketingBut there is one gentleman (or a brand, however you choose to see him) who has consistently been so good at product marketing, that it would be a shame not to try to learn from him. Chetan Bhagat has been so good at selling books that several of our more established, critically acclaimed (and might I say, better) writers have had to go into therapy to treat their egos. He single handedly changed publishing in India, and though his methods may be suspect, they are nothing if not effective.

From the beginning, I’ve looked at Chetan Bhagat as a product marketer, and not as a writer who’s good at selling books; one reason for that is that his ideas (& tradition, as he has spawned several copycats & me-too writers) offend my literary sensibilities. Books are respected repositories of our knowledge, wisdom & stories for a reason, and somehow Bhagat’s books (or products) seem to undermine the very reason books are written & read.

None of that, though is relevant in a discussion about selling books, of which he is an absolute master. There is much to be learnt about product marketing from this seller of mass-market paperbacks, and I’ve distilled five of them.

Here goes –

1. There’s no such thing as bad publicity

Bhagat goes out of his ways to court attention. There is a reason he consistently picks fights with what he calls ‘the literary elite’; they are a self serving bunch not concerned about writing for ‘the common man’, he says, and is constantly getting into debates with them on national television. He has no original ideas to share at these platforms; all he does is reiterate that India’s new English readers need simplicity and stories that make them feel good, and that he is providing it to them. But intellectual debate is not the point of his appearances at all. The point is to stay in the news and never to go out of the mainstream. If you are always in front of your potential consumers, of course the probability that they will buy your product goes up exponentially. This is Marketing 101!

2. Revenue doesn’t care if it comes from shameless self-promotion

All of Chetan Bhagat’s books have one very prominent (& jarring) common factor. He appears in all of them in the beginning, as himself, listening to the story he is going to tell. It is a cringeworthy opening set-piece that smacks of supremely lazy writing, but what it also is is a reiteration that the book the reader is holding in his hand is part of the Chetan Bhagat brand, more a proclamation of allegiance than worthy literature. In marketing, we call this real estate. If you have a place you can showcase your brand or your product, every inch of it has to be used. Chetan Bhagat is so good at this that he has literally used the product he sells, that is, his books, to sell his own brand. If that is not genius, I don’t know what is.

3. Create your own market

The Blue Ocean strategy was something that was taught to me in my MBA days. I remember thinking that it was a pretty neat concept, but then as college students are wont to do, promptly forgot about it. The first time it struck me how Chetan Bhagat had applied it, I was mesmerized. In short, the Blue Ocean strategy puts forth the idea that instead of trying to compete against an established company in a congested market, a better way to create value would be to create a new market in the first place and then, by virtue of being the only players in that space, surge ahead before anyone even thinks about catching up. Before Chetan Bhagat came into the scene, the simple language/easy to digest/cheap paperback novel did not exist, simply because no one knew that such a market existed and that it could be serviced and made heaps of money off. I wasn’t paying attention during my MBA, but Chetan Bhagat certainly was.

4. Tailor your product & communication to your audience

Chetan Bhagat know who he is writing for. His audience is not the reader who has been reading for years and knows the kind of books he prefers or doesn’t, who already has a favorite author or authors or who can distinguish between a Mills & Boon and a Penguin Classic. Bhagat does not write for them. He writes for an aspirational middle class for whom English is a distant second language. And he makes no bones about that fact; Bhagat never claimed to be Naipaul. When you are this clear about the market you are selling to, you usually cannot go wrong. And he doesn’t. His books are not high literature, but they are perfect for the people he is selling to.

5. Go for the low-hanging fruit; grab the easy-to-acquire customers first

Though product marketers are beginning to catch on to the fact that pageviews is largely a vanity metric, there is a certain segment of the online content factories that have made this their field of expertise. And the foremost among them is of course Buzzfeed. The overwhelming majority of Buzzfeed’s content are listicles and feel-good stories that can only be described politely as great for passing the time. But there can be no argument with the fact that they work. Buzzfeed is an extremely intelligent, data driven company (run on Valley money) that knows exactly what it is doing. It is low-brow because it chooses to be, because that’s where the money is, and because it’s so easy to get that money. Chetan Bhagat understands this. India’s English book readers are a minority; in a country with so many regional languages and low literacy levels, the market for literary fiction and nonfiction in English is relatively miniscule. But there are millions of people who can read and understand simple English, and since they had never been sold books to before, all Bhagat had to do was write his books and spread the word. The low-hanging fruit was his for the taking.

I’m sure there are many more things we product marketers can learn from him. If there is anything I’ve left out that you’ve noticed, do point it out. As they say, knowledge shared is knowledge gained, and a discussion featuring books, in whatever oblique way, can never be not fruitful.