I get it. . Creative juices are unleashed; salespeople have new reasons to hit the streets (and they have you to thank for it), maybe some promotional budget dollars are available, and you get to pick customers’ brains. Huzzah! Introducing a new widget can be FUN You know where this is going — eventually every is going to face the grim reality that it’s no longer the fresh-faced kid. . product The Thrill Is Gone Instead of turning into (been there, done that), use this as an opportunity to expand your skillset. Consider the following: The Morose Product Manager Instead of you begging for customers and considering whether to adopt some sketchy growth hack — the shoe is now on the other foot. Customers are accustomed to using your product. B2B customers are especially loath to change, especially if swapping out your part requires taking down a manufacturing line for re-tooling. Diplomacy is a valuable AND TRANSFERABLE skill. There’s a decent chance that if your product has survived to this point, t . Your pricing and costs have usually stabilized thanks to the magic of cumulative learning. (Which means those quarterly financial forecasts no longer require a Ouija board and personal charm.) he number of direct replacement solutions has diminished to nil So, here’s your chance to turn a Product into an appreciated elder statesman of your company. To do this, you’ll need the following skills: Sundown Instead of sending “new & improved” promotional literature to whomever will read it — . Be cognizant that they will probably introduce pain into a customer’s life. You learn to appreciate having succinct early warning dates (last order, last ship, etc.), links to potential replacements, and contact points if an escalation is necessary. you’re now in charge of gentle “here’s our phaseout plans” to a targeted customer list . They are being graded on inventory levels, lead times, minimum order quantities, and whether to scrap unloved material. Your ability to find homes for remaining inventory will make you very popular at quarter-end. You’ll become best friends with your Operations team If you’re replacing a product with another, even better. , and manage the transition for your customers. (As an aside: I know most PMs consider project management to be another domain. Trust me, you want to have this skill in your toolbox.) You still get to use your “new/improved” features & benefits magic Ideally you have products in the pipeline that will replace your long-lived babies — or your firm is pivoting to new markets. (You DO have a revenue replacement, right?) . (No photos of pets or grandparents were used in the making of this article. You’re welcome.) Appreciate those old friends for what they’ve brought you
