How can product leaders effectively lead teams and drive success when entering a new industry? In this episode hosted by Mark Bailes, Sentara Health Head of Product Cybersecurity Commercialization Shane Wooten shares his insights on positioning yourself for success when transitioning to a new vertical. Learn how to build trust and credibility with experienced teams, sell a compelling product vision, and leverage your core product skills to make an impact – even without prior industry expertise. Shane draws on his diverse background, spanning entrepreneurship, Fortune 500 companies, and now healthcare, to provide practical advice for product managers looking to take on new challenges and accelerate their careers by expanding into unfamiliar markets.
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Show Notes
- Focus on transferring your core product management skills and expertise, rather than emphasizing industry-specific knowledge.
- Take time to understand the context, history, and key stakeholders when joining a new organization.
- Slow down to build trust and credibility with experienced team members, rather than rushing in with your own agenda.
- Manage internal expectations and imposter syndrome by grounding yourself in your fundamental product management abilities.
- Demonstrate self-awareness and a willingness to learn from the team to foster respect and collaborative relationships.
- Involve the team in defining a clear product vision and strategy using workshops and design thinking exercises.
- Evangelize the product vision through various communication methods, including visual demonstrations and prototypes.
- Actively seek customer feedback early and often to validate the product direction and make necessary adjustments.
- Consider cultural fit, temperament, and potential for growth when hiring product managers, not just industry expertise.
- Carefully assess your motivations and the alignment of a new opportunity before making a career change.
- Stay curious and continuously learn, even as an experienced product manager, to avoid complacency.
- Leverage your product management skills to succeed in new industries, even without prior domain knowledge.
- Build a network of trusted colleagues who can support you throughout your career transitions.
- Recognize that industry-specific expertise can be acquired, while core product management abilities are more transferable.
- Involve cross-functional teams, including sales and engineering, to effectively communicate the product vision to customers.
- Utilize lean, agile, and design thinking methodologies to engage stakeholders and validate product ideas.
- Demonstrate humility and a willingness to learn from the team to establish credibility in a new environment.
- Prioritize understanding the customer’s needs and pain points over showcasing your own expertise.
- Maintain a long-term perspective when considering career moves, rather than being swayed by short-term factors.
- Continuously seek opportunities to expand your skills and experience, even within your current organization.
About the speaker
With over 20 years of experience, I specialize in driving innovation from concept to commercialization in the fields of IoT, connected products, and cybersecurity. My journey began with launching my first start-up in college, leveraging agile scrum and design thinking—a foundation that led to multiple successful ventures and acquisitions.
About the host
I am passionate about using technology to solve problems and I take great pleasure in helping others to achieve their goals. I live these values every day working in Product.