Negotiation Strategy:<\/strong> How do you ask for what you want (and what you feel like you deserve?) <\/li>\n<\/ul>\n\n\n\nThere you go! To bring these ideas to life, I’ll also walk through how to think about each question using a hypothetical client.<\/p>\n\n\n\n
Example: Marketer Breaking Into Product Management<\/h3>\n\n\n\n
One common transition that I see tech clients trying to make is switching from a business-oriented role (e.g. marketing, analytics, or consulting) to their first product management position.<\/p>\n\n\n\n
Let’s imagine a hypothetical client, who is a marketing generalist with 2-3 years of experience working at fast-growing startups. In her next step, she wants to do product management at a larger software company. <\/p>\n\n\n\n
We can help her navigate to her destination using the 4P’s framework:<\/p>\n\n\n\n
1. Product<\/h6>\n\n\n\n
Unique Selling Proposition<\/strong>. How do you differentiate from all the other candidates vying for this particular position?<\/em><\/p>\n\n\n\nOne way our client can sell herself is as a customer-centric product manager who specializes in growth, revenue models, and data analytics. She can position herself as a strong hire for a company to solve the problem of growing and monetizing a product.<\/p>\n\n\n\n
Why is this effective? Most product teams look for PMs with strong customer empathy. The right sub-set of product teams will also need talent with a knack for growing the business. By targeting companies with this need, she can sell her analytical marketing skillset as strengths instead of getting bogged down by conversations about what she lacks (technical skills, product-building experience, etc.).<\/p>\n\n\n\n
Employer Needs<\/strong>. What are their needs? What gaps are they’re looking to fill?<\/em><\/p>\n\n\n\nNot every company is looking for a business-minded PM. For example, SaaS startups with a fast-growing business are going to value this client’s skill set more than early-stage consumer startups who are still building their first product. They haven’t encountered the problem of growing their product yet.<\/p>\n\n\n\n
Our client would benefit from doing a broad search for characteristics of companies that commonly demand her skillset. Relevant factors might include stage of company, type of industry, existing make-up of the product team, types of problems the team faces, etc. Some of this information won’t be available online, so networking with other PMs would be useful.<\/p>\n\n\n\n
Market Research<\/strong>. What is the typical profile of other candidates searching for this position? <\/em><\/p>\n\n\n\nOur client’s biggest competition is likely from PMs with a few years of experience under their belt. With that said, just because they have more depth in product skills, it doesn’t mean that our client can’t stand out.<\/p>\n\n\n\n
For example, if all the other candidates are from a traditional software product management background and haven\u2019t managed a business before, her growth skillset would be a strong differentiating factor for her.<\/p>\n\n\n\n
Superpowers<\/strong>. What are the superpowers that you bring to the table, that other candidates do not? <\/em><\/p>\n\n\n\nFor our client, knowing her strengths and how she can connect them with employer needs is a critical piece of the puzzle. For example, her strengths could be:<\/p>\n\n\n\n
\n- Growth skillset<\/li>\n\n\n\n
- Analytical horsepower<\/li>\n\n\n\n
- Branding<\/li>\n<\/ul>\n\n\n\n
While branding is a valuable marketing skill, it’s not going to be what a PM hiring manager needs. The first two superpowers are more useful for our client to emphasize in her interviews.<\/p>\n\n\n\n
Pro-tip: I always tell clients to think of 3 takeaways they want their interviewers to walk away with, then pick their stories to showcase these 3 takeaways. Picking a superpower as a takeaway is a fantastic idea.<\/p>\n\n\n\n
Packaging<\/strong>. How do you package yourself and your credentials in a convincing, understandable way for employers? <\/em><\/p>\n\n\n\nIt’s important for our client to have a razor-sharp message about the value she can provide a hiring team, instead of something generic. <\/p>\n\n\n\n
If she was a senior leader applying for a VP of Product role, perhaps talking broadly about her experiences would help her stand out amongst a crowded field of specialists. But from what I’ve seen, having a more targeted value proposition works better for breaking into the field.<\/p>\n\n\n\n
2. Promotion<\/h6>\n\n\n\n
Communication Strategies. <\/strong>How are you intentionally communicating your value to the employer in your outreach? Job search documents? Interviews? <\/em><\/p>\n\n\n\nOne powerful storytelling technique is showing a different angle of the value you bring in each story. For example, giving two unique examples of your analytical skills can provide a more layered understanding of your superpower than telling the same story twice.<\/p>\n\n\n\n
Our client can make a much stronger impression than other candidates if she tells a variety of stories that paint a cohesive, nuanced portrait of what she brings to the table.<\/p>\n\n\n\n
3. Place<\/h6>\n\n\n\n
Distribution Channels<\/strong>. Which channels are you using? <\/em><\/p>\n\n\n\nLike in marketing, different distribution channels have varying levels of effectiveness based on the candidate’s personality, resources, and job search skills. That said, in my observations, reaching out to others in your target position is the best way to learn about the role and get connected to opportunities.<\/p>\n\n\n\n
Since our client is breaking into PM for the first time, resume drop likely won’t be an effective channel for her. Hiring managers may too easily discount her lack of relevant experience on paper. <\/p>\n\n\n\n
What I’d recommend for her to do is reach out to at least 5 PMs each week for tea\/coffee chats. Getting face-to-face conversations and personal referrals would give her the best shot of bypassing the resume drop gauntlet.<\/p>\n\n\n\n
4. Price<\/h6>\n\n\n\n
Compensation Package<\/strong>. What is the price that the employer is willing to pay for the value you bring to the table? <\/em><\/p>\n\n\n\nHaving a clear understanding of what the market is offering before starting the job search is critical. I’d ask our client to research compensation for junior product managers (0-1 years of experience) in her geography and industry. <\/p>\n\n\n\n
By doing the upfront research, she’ll know how to discern her compensation package, whether it’s a top-of-the-market or a low-ball offer.<\/p>\n\n\n\n
Negotiation Strategy<\/strong>. How do you ask for what you want (and what you feel like you deserve?) <\/em><\/p>\n\n\n\nTo negotiate, she’ll still need leverage. If she has counter-offers on the table, then we can work together on crafting her language so that she comes from a position of strength (which stems from a willingness to walk away!) instead of weakness during negotiations, which increases her chances of landing a better offer.<\/p>\n\n\n\n
Last Words<\/h3>\n\n\n\n
To summarize, the 4P’s influence just about every part of the job search journey from initial outreach to negotiating your offer. <\/p>\n\n\n\n
While no strategy can guarantee a dream job falling in your lap, the 4P’s does everything short of guaranteeing success. I’ve found it to be the most highly leveraged exercise you can do to optimize your impression on employers at each step of the way.<\/p>\n\n\n\n
Don\u2019t start your next job search without it in your toolbox.<\/p>\n\n\n\n
\n\n\n\nThanks for reading this article! <\/strong><\/p>\n\n\n\nComment below with which question(s) you found to be the most useful in your job search. I’d love to hear your thoughts.<\/p>\n\n\n\n
Also if you enjoyed this resource, download the accompanying 4P’s worksheet:<\/strong><\/p>\n\n\n
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