131: How To Make More Money

131: How To Make More Money

5 Ways Product Managers Can Make More Money

Software product managers are responsible for $5-$10 million in new revenue over the next 12 months. How do you get that? There are five ways your revenues can increase:

  1. Your market grows, and you grow with it naturally
  2. You beat your competitors more in your existing deals – that is, you increase your win rate
  3. You get into more deals and win them at your normal rates – that is, you increase your sales velocity
  4. You extend your footprint in your existing market by selling more to each customer – or increase your average deal size
  5. You start selling in a new segment or market

Those are the five ways to grow revenue. If you do enough of them, you might see your $10 million in incremental revenue in a year.

In this episode I explain how each of these works – and what our responsibility is.


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