The one thing that a Product Manager must do is to build and maintain the product roadmap. In the simplest sense, the roadmap is consumed by the internal teams to build, market and sell the product. The external teams like current and potential customers, analysts and partners use the product roadmap to understand the direction and decide if they need to invest in this company and product.
Traditionally the roadmap is filled with set of releases and each release has features and functions. Internally and externally, everyone got used to this format and while there is nothing wrong with this, good product managers make this content better with more context. Product Managers must maintain the product roadmap. Let me explain what I mean by this.
Good product managers always study the industry trends, opportunities and present it along with the roadmap. Sometimes they may not even call it a roadmap but this is part of their business strategy. When they plan for the next product iterations, they consider below topics. This is not to say that Product Managers dont think about this, but bringing it explicitly on the roadmap makes it more interesting for its consumers.
About the Author: Suresh Madhuvarsu is a serial entrepreneur and investor. He is the Managing Partner of Product10x Accelerator, a SaaS accelerator that helps founders build and launch successful startups. He is also the Co-Founder and CEO of Salestable, a purpose-built sales readiness platform for SMBs.