How to Outsource Product Management

Companies that do not have the resources to employ a product management team or product manager can outsource part or all of this position to save money. Product management is a valuable asset to a company, because it helps to create and maintain brand equity and keep a company well positioned within a market. Some small and mid-sized businesses, however, cannot afford product management. In those cases, finding a way to outsource that function can be the solution.

Instructions

1. Determine how much your budget can allow for product management. It's best to handle product management duties in-house, because the product manager role coordinates with so many other departments, but this can be an expensive option.

2. Decide how much of your product management duties you need to outsource if you determine you cannot afford to keep them all in-house. You can outsource part or all of these duties as your budget and situation dictate.

3. Assign project manager duties that you decide to keep in-house to appropriate members of the development team. For example, you may hire an outside firm to gather and analyze customer feedback, but it might be easier for you to designate your research and development manager to synthesize that feedback into product requirements and features.

4. Interview different firms to handle the aspects of product management you wish to outsource. There are many different consulting companies you can employ to provide this function to your company.

5. Request that potential consulting firms provide concrete descriptions of past work they have done in product management and the results they have realized from that work. You want to hire a consulting firm that has a proven track record of achieving results for past and current clients.

6. Hire a firm that demonstrates a clear understanding of your brand identity and equity and is in sync with your plans for the future. Product management is an integral role in the long-term growth of a company, and you want to make sure that any firm you outsource that role to is aligned with your vision for your business.

Tips & Warnings

• Use professional organizations and associations as a resource when looking for consulting firms to which to outsource part or all of your product management duties.

• Don't hesitate to find a new firm to handle your product management if you are dissatisfied with the first one you choose. It's important to have a solid working relationship with the person who functions as your product manager so that you can maximize your company's growth.