How to transfer your product leadership skills into becoming a founder

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Nancy Wang
Director of Product and Engineering/General Manager, AWS Data Protection and Data Security and Founder & Board Chair, AWIT
Vidya Srinivasan
Moderator | Principal Product Manager
Automatic Summary

Transferring Product Leadership Skills into Becoming A Founder: Insights from Nancy Wang

Welcome to our informational session on how to transfer your product leadership skills into becoming a founder. Today we are thrilled to host the amazing Nancy Wang, a multi-faceted leader, director of product and engineering for AWS, and founder and co-chair of Advancing Women in Tech.

Key Differences in Product Leadership

The important question that becomes apparent during our chatter regards the key differences in product leadership when working for a company versus being a founder. Nancy insists that a lot hinges on the fact that, as a founder, you're really on your own. Teams such as marketing, pricing, packaging and business development are all you. Therefore, understanding how to commercialize a product becomes central.

Testing Product-Market Fit

An exciting topic that Nancy often brainstorms with founders is how to test for product-market fit. A common misunderstanding is that having paying customers is a real problem's solution. However, a leading indicator derives from the founder's conviction that their product truly solves a problem.

Building Conviction As a Startup Founder

So, how does one build conviction? The answer might lie in developing customer empathy or understanding industry trends and enterprise buying patterns. You need to be aware of the fine line to tread as an early-stage founder in avoiding becoming a services company, which could be detrimental to your success in the long run.

Mistakes to Avoid

  • Mindset shift: Moving from a big company to a startup requires a shift in mindset. In a startup, everything becomes your problem.
  • Ruthless prioritization: As a startup, resources are limited and all engineering resources can't be spent on one feature.

Advice for Aspiring Startup Founders

Nancy recommends potential startup founders make sure they're in a full-scope product role. AWS PMS, for instance, handles pricing, packaging, go-to-market, and PNM, almost like a general manager role. The founder must have these skills; hence, it is best to gain these skills while still in a secure company before plunging into entrepreneurship

Conclusion

We hope this session was insightful for product leaders who inspire to transition to a founder role. For more detailed answers, you can check out the real world product management specializations created by Nancy's nonprofit, Advancing Women in Tech on coursera.org. They have designed a curriculum meant to take you through the first year of what it means to be an AWS technical PM.

Being a founder and transferring product leadership skills is no small feat, but with the right tactics and learning from the experts, you are sure to thrive in your new journey.


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