Essential Reading: Best Product Management Books for Every PM

As a product manager, staying up-to-date on the latest trends, strategies, and best practices is crucial for success. With so many resources out there, it can be overwhelming to know where to start. That is why we compiled a list of the best product management books for every product manager, from beginners to experts.

Whether you're looking to learn the fundamentals of product management or want to take your skills to the next level, these books will provide you with valuable insights and practical tips, including step by step guidance and actionable advice.

Experienced product managers need to understand the technology adoption life cycle, learn how to determine product market fit, the concept of a minimum viable product and the behavior of early adopters in target markets to help their product teams create radically successful businesses.

Prepare ready to expand your knowledge and take your career to new heights with this essential reading list!

Why These Product Management Books Were Selected

When it comes to the best product management books, these three are definitely at the top of the list.

In The Lean Product Playbook by Dan Olsen, readers will learn how to innovate using minimum viable products and instant customer feedback.

Sprint: How to Solve Big Problems and Test New Ideas in Just Five Days by Jake Knapp, John Zeratsky, and Braden Kowitz, is a practical guide for solving big problems and testing new ideas in just five days.

Finally, The Innovator's Dilemma by Clayton Christensen, explores how new technologies can cause great firms to fail and how companies can overcome this dilemma.

Together, these three books provide a comprehensive understanding of product management and offer valuable insights for any product manager looking to enhance their skills.

The Lean Product Playbook

by Dan Olsen

What People Learn from This Book

"The Lean Product Playbook" by Dan Olsen is a must-read for any product manager looking to innovate with minimum viable products and rapid customer evaluations. In this book, Olsen provides a step-by-step guide to building successful products, from defining your target customer and identifying their needs to creating a value proposition and testing your product in the market. Readers will also learn how to use metrics to measure success and how to iterate and improve their product over time. Through real-life case studies and practical examples, Olsen teaches readers how to apply the lean product methodology to their own work and create products that customers love.

Critical Ideas from This Book

One critical idea from "The Lean Product Playbook" is the importance of defining your target customer and understanding their needs. Olsen emphasizes that successful products are built around solving customer problems, and that product managers must have a deep understanding of their target customers in order to create a valuable product. Another key concept from the book is the use of minimum viable products (MVPs) to test and validate product ideas. MVPs allow product managers to test their assumptions and gather customer response early in the product development process, which can save time and resources in the long run. Finally, Olsen stresses the importance of continuous iteration and improvement, using customer reactions and data to make informed decisions about product development.

Noteworthy Quotes

"A successful product is one that solves a problem for a customer and is valued enough to be bought."

"The best way to create a successful product is to deeply understand your target customer."

"Iterate quickly and learn from your customers. The faster you can iterate, the faster you'll create a successful product."

Sprint: How to Solve Big Problems and Test New Ideas in Just Five Days

by Jake Knapp, John Zeratsky, and Braden Kowitz

What People Learn from This Book

"Sprint: How to Solve Big Problems and Test New Ideas in Just Five Days" by Jake Knapp, John Zeratsky, and Braden Kowitz is a game-changer for product managers looking to improve their innovation process. The authors introduce a five-day process called the "sprint," which allows teams to rapidly prototype and test ideas. In this book, readers will learn how to conduct user research, map out user journeys, and create a prototype in just five days. The sprint process helps product managers to validate assumptions, test ideas with both real world examples and customers, and get valuable feedback in a short amount of time.

Critical Ideas from This Book

One critical idea from "Sprint" is the importance of starting with user research. The authors emphasize that in order to create a successful product, it is essential to understand the needs and desires of your target customers. The sprint process includes a day dedicated to user research, during which product teams can conduct interviews and gather insights from real customers. Another key concept from the book is the value of rapid prototyping. By creating a tangible prototype in just one day, product managers can test their assumptions and get valuable feedback from users before investing more time and resources in development. Finally, the sprint process emphasizes the importance of collaboration and teamwork, with all members of the team contributing their unique perspectives and expertise.

Noteworthy Quotes

"The most important thing to learn from user research: What do your users want to do?"

"When it comes to innovation, the biggest risk is not taking any risks."

"The goal of a prototype is to test our assumptions and to learn whether we're on the right track."

The Innovator's Dilemma

by Clayton Christensen

What People Learn from This Book

"The Innovator's Dilemma" by Clayton Christensen is a groundbreaking book that teaches readers how to deal with the challenges that come with technological innovation. Christensen argues that companies must be willing to take risks and pursue new technologies, even if it means abandoning their current business models. The book is a must-read for anyone interested in the tech industry, as it provides valuable insights into how new technologies disrupt established markets and change the business landscape.

Critical Ideas from This Book

One of the critical ideas presented in the book is the concept of "disruptive innovation." According to Christensen, disruptive innovations are those that create new markets and value networks, eventually disrupting existing markets and replacing established products. He argues that established companies often fail to embrace disruptive technologies because they are focused on sustaining their existing business models.

Another essential idea in the book is the concept of "value networks." Christensen argues that companies must understand their value networks and how they create value for customers. He suggests that companies must be willing to change their value networks and business models to adapt to new technologies and market demands.

Finally, Christensen emphasizes the importance of experimentation and taking risks. He argues that companies must be willing to experiment with new products and business models to stay ahead of the competition and remain relevant in a rapidly changing business landscape.

Noteworthy Quotes

"Disruptive technologies are not breakthrough technologies. They do not provide new functionality or improved performance. Rather, they are simpler, more convenient, and less expensive products that appeal to new or less-demanding customers."

"The pursuit of margin, which is necessary to sustain growth, often drives established companies to ignore disruptive technologies."

"The hardest part of the innovation process is the last mile, where the idea finally meets the market."

Additional Questions to Consider

Aspiring product managers often struggle with determining the best resources to help them develop their skills. They may also be unclear on the key concepts and frameworks in product management. Questions such as "What should I read to become a product manager?" and "What are the 3 major areas of product management?" are common.

Additionally, product management involves understanding concepts such as the 5 Ps and 4 Cs of product management, as well as the 5 W’s rule and the 7 stage PLC cycle. While this may seem overwhelming, there are many resources available, including some of the best product management books such as "The Lean Product Playbook," "Sprint," and "The Innovator's Dilemma." By reading and studying these books, aspiring product managers can gain a solid understanding of product management concepts and develop the skills they need to succeed in this field.

Understanding customer behavior is critical to creating habit forming products. Product management skills add real value in a company's business success and business strategy.

Below is some additional information to help briefly address several of the most common questions readers have about product management topics.

What should I read to become a product manager?

To become a product manager, there are a few must-read books that can provide a solid foundation of knowledge. Some of the best product management books include "Inspired: How to Create Tech Products Customers Love" by Marty Cagan, "Cracking the PM Interview: How to Land a Product Manager Job in Technology" by Gayle McDowell, and "The Lean Product Playbook: How to Innovate with Minimum Viable Products and Rapid Customer Feedback" by Dan Olsen. These books can help you understand the core principles of how effective product management is, the skills required to excel as a product manager, and the processes involved in product development.

What are the 3 major areas of product management?

The three major areas of product management are strategy, execution, and analysis. Product strategy involves defining the vision, mission, and objectives of the product, as well as identifying the target market and conducting market research. Product execution involves managing the product development process, including ideation, prototyping, testing, and launch. Product analysis involves evaluating the product's performance, measuring key metrics, and making data-driven decisions to optimize the product. Product managers for tech companies and other companies need to appreciate the real value these areas bring to successful companies.

What are the 5 Ps of product management?

The 5 Ps of product management are product, price, promotion, place, and people. These five elements are the key components of the marketing mix, which is used to create a successful and effective product management creates and strategy. Product refers to the features and benefits of the product, price refers to the pricing strategy, promotion refers to the marketing and advertising of the product, place refers to the distribution channels used to sell the product, and people refer to the target market and the team responsible for creating and selling the product. Product managers that understand and apply the 5 Ps will facilitate product led growth.

What are the 4 Cs of product management?

The 4 Cs of product management are customer, cost, convenience, and communication. These four elements are used to create a customer-centric product strategy. Customer refers to understanding the needs and preferences of the target market, cost refers to the price the customer is willing to pay for the product, convenience refers to the ease of use and accessibility of the product, and communication refers to the messaging used to promote and sell the product. Understanding each key metric for business success is key for the product team to understand customer satisfaction.

What is 5 W’s rule in product management?

The 5 W's rule in product management is a framework used to gather information about a product lifecycle. The five W's are who, what, where, when, and why. Who refers to the target market and the customer persona, what refers to the features and benefits of the product, where refers to the distribution channels and market segments, when refers to the product launch and timeline, and why refers to the problem the product solves and the value it provides to the customer. Product managers that constantly consider the five W's are more prepared to build habit forming products.

What is meant by the 7 stage PLC cycle?

The 7 stage PLC (Product Life Cycle) cycle is a framework used to describe the stages a product goes through from introduction to decline. The seven stages are development, introduction, growth, maturity, saturation, decline, and withdrawal. The development stage involves ideation and prototyping, the introduction stage involves launching the product, the growth stage involves increasing sales and market share, the maturity stage involves maintaining market share, the saturation stage involves declining growth, the decline stage involves decreasing sales product market fit, and the withdrawal stage involves discontinuing the product. Understanding the stages of the PLC cycle can help product managers make strategic decisions about their products.

Invest in Your Product Management Career with These Books

In conclusion, if you are looking for the best product management books to help you grow in your role as a product manager, you can't go wrong with "The Lean Product Playbook" by Dan Olsen, "Sprint" by Jake Knapp, John Zeratsky, and Braden Kowitz, and "The Innovator's Dilemma" by Clayton Christensen.

These books offer a wealth of knowledge, practical advice and insights on how product managers facilitate business success with a great product market fit, innovate with new technologies, and solve big problems in a fast-paced environment. By reading and applying the concepts in these books, you'll be well on your way to becoming a more effective and knowledgeable product manager. Product management creates real value as they apply lean startup ideas, learn from customer behavior and serve mainstream customers.

Pick up one or all of these books today and take the next step towards mastering the art of product management!

Additional Recommendations

Escaping the Build Trap , by Melissa Perri

The Lean Startup By: Eric Ries

Crossing the Chasm By: Geoffrey A. Moore

Silicon Valley Product Group recommended reading list