Do you need a VP of Product?

  1. Do you have product market fit?
  • Is your annual recurring revenue (ARR) close to $10M?
  • Is your customer retention healthy and trending up?
  • Are your sales close rate and customer growth healthy?
  • The VP may be frustrated because the company isn’t mature enough to handle their role. But if the person is the right hire for a startup, they should be scrappy and able to adapt to the maturity of the company.
  • A good VP of Product will be expensive — both compensation and equity.
  • Who you can attract pre-PMF may be different from post-PMF. And likewise, the skills needed pre and post-PMF are different.
  • Opportunity cost of your time or the time of the person overseeing product (assuming they have another job)
  • Lack of product vision and strategy — you may just be spitting out features with no cohesive strategy
  • Chaos between departments. This is recoverable but can cause unneeded confusion
  • Hiring the wrong people. The worst thing you can do is hire a bunch of product managers or product designers right before hiring a VP of Product.

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Product leader specializing in B2B SaaS. Adjunct professor of product strategy and product management at Brigham Young University.

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Johny Wudel

Johny Wudel

Product leader specializing in B2B SaaS. Adjunct professor of product strategy and product management at Brigham Young University.

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