Finance is dried? Are you joking me? The latest episode of product workers is a theme that often remains under the radar for the product owner, but is important for their career: financial knowledge. Tim Klein talks to an experienced product leadership cochin, Simoneta Baitigar, an experienced product about the relevance of the number of number in product management and financial knowledge for the product owner.
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Understand the numbers – for the product and your own career
Why should the product owner deal with financial knowledge? Many spontaneously understand how important the user is, but the economic perspective of a product is often neglected. Simoneta Baitigar, who also started a career in the finance sector before switching on product management, makes it clear: if you want to succeed long -term as a product owner, you should understand the numbers. Sales, Costs, Margin – These factors not only determine the success of a product, but also determine your own career path.
The product owner often faces the challenge for the company to make the additional value of your work tangible. There may be a decisive difference here in the case of a well -business. Whoever can show how product decisions increase sales or optimize costs are heard at stakeholders and management levels. Especially in the time of economic uncertainty, financial knowledge for the product owner is becoming increasingly relevant. Simoneta insisted that it is not rocket science to acquire this knowledge. A good first step is exchange with the finance team: Which metrics in the company are really relevant? Which KPI management pays attention to? Anyone who asks these questions shows the initiative and strengthens his position as a strategic designer of his product.
The budget theme also arises in the conversation. Many product owners usually feel the annual budget process as a barrier, but if you understand it, you can actively use it. The budget plan is the best opportunity to secure the resources required for the next year – this for new team members, further training or technical infrastructure. Those who integrate financial knowledge into their work, not only make more sound decisions, but also strengthen their role in the company.
C ++ 26: A lock-free stack with nuclear smart pointerAt eye level with other departments
Another important point: Financial knowledge helps to talk to other departments at the eye level. Whether the finance team, management or sales sector-you can speak your language and argue with numbers, it is taken more seriously and can protect your roadmap with more confidence. A product owner who brings financial knowledge is less interchangeable and greatly enhances his career opportunities.
If you want to train yourself, you will get many resources from online courses to internal training. Simonetta Batteiger’s final advice: Just want to talk to the finance team and be curious. Financial knowledge for the product owner is not a good-from, but a real career booster.
Contact with Simonetta Batteiger is best through you LinkedIn page possible.
Further links
These earlier podcast episodes were mentioned:
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