Succeeding as an introvert, building zero-to-one, and PM’ing your career like a product | Deb Liu
22 Aug 2024 (26 days ago)
Introduction to Deb Liu
- Deb Liu has held executive positions at Facebook, eBay, and PayPal.
- She has also served on the board of Intuit.
- For the past three and a half years, she has been the CEO of Ancestry.
Deb’s career journey and key advice
- The speaker's interest in product management began after a conversation with a recruiter and a product manager led to a job offer.
- The speaker believes that continuous learning is crucial for career success, emphasizing that expertise in a particular area is not the ultimate goal.
- The speaker believes that career paths are not linear and encourages individuals to embrace new challenges and be willing to learn from others.
Navigating new roles and challenges
- Passion for the product, company, business model, or use case is crucial, even more so than technical skills like writing specifications or conducting data analysis.
- Aspiring product managers should focus on demonstrating their enthusiasm for the problem the company is trying to solve and the target customer.
- Being genuinely excited about the work and the company is a prerequisite for success as a product manager.
Overcoming adversity and failure
- The most successful people are those who have experienced adversity, learned from their failures, and used feedback to improve.
- Overcoming challenges and setbacks builds resilience and strength, much like a tree bending in the wind.
- It's important to embrace adversity and view it as an opportunity for growth rather than striving for a life without challenges.
Building billion-dollar businesses at Facebook
- The speaker built the first direct response ad product at Facebook, which became a significant source of ad revenue for the company.
- The speaker found success by pursuing opportunities that others overlooked and by iterating rapidly on product ideas, even when faced with limited resources and the possibility of failure.
- Large companies often struggle to innovate because they tend to over-manage new projects and are too quick to abandon initiatives that don't show immediate results.
Strategies for zero-to-one innovation
- The most important element for fostering innovation is patience, recognizing that innovation is a portfolio strategy with inherent risks and a significant failure rate.
- Individuals early in their careers should prioritize learning core product development skills in stable environments where they can contribute to established products and gain valuable experience.
- At some point in one's career, it's beneficial to take risks and pursue "big swing" innovation projects, understanding that these endeavors carry a higher chance of failure but also offer the potential for significant impact and career-defining experiences.
PM your career like a product
- Many people drift from job to job without a plan for their career.
- It is important to have a plan for your career and to think about what you want to achieve in the future.
- When considering job opportunities, it can be helpful to have a measuring stick to determine if a particular opportunity will help you get closer to your long-term goals.
Challenges and strategies for introverts in business
- Introverts are often overlooked in the workplace, despite their skills and contributions.
- Introverted professionals need to become their own best marketers and share their accomplishments to gain recognition.
- Workplaces should be designed to accommodate different communication styles, allowing introverts to contribute effectively.
Reframing self-promotion
- Reframing self-promotion as educating others about a team's accomplishments can make it feel less self-serving.
- Individuals may avoid self-promotion because they associate it with those who lack substance, but reframing it as sharing valuable knowledge can change their perspective.
- Sharing knowledge and experiences publicly can be beneficial, and individuals should focus on providing valuable content rather than seeking attention.
The power of accountability
- A manager requested a monthly written and published work as part of a work agreement.
- The manager's request resulted in consistently writing and publishing content for years, including a book.
- Accountability, whether from a manager or a friend, can help individuals overcome the initial hurdle of sharing their work publicly.
Growth: a game of inches
- Growth is about making small, incremental improvements over time, such as increasing efficiency by 1% each week.
- Many small improvements can lead to significant growth, and it's important to experiment with different ideas, even if some fail.
- Growth teams should focus on optimizing existing products and features to enhance user experience and accessibility, rather than solely focusing on developing new products.
The 30-60-90-day plan
- A 30-60-90-day plan, focused on listening and learning before doing, can be beneficial for anyone joining a company.
- The plan encourages new hires to spend the first 30 days listening to colleagues, summarizing their feedback, and identifying challenges and wish lists.
- It's crucial to align with the manager on the plan, dedicating time for listening and understanding the team's dynamics before attempting to make an impact.
Contrarian corner: career and marriage
- The most crucial career decision an individual makes is who they choose to marry.
- Having a supportive home life is essential for a successful career, especially for individuals in demanding careers and those with children.
- When choosing a life partner, individuals should consider the long-term impact of the relationship on their career and overall well-being.
Final nuggets of wisdom
- Life is 10% what happens to you and 90% how you react to it. People who are resilient and view failures as opportunities for growth tend to have more successful and fulfilling careers. (00:59:22)
- Leadership coaching can be transformative in helping individuals reframe their perspective on failure and feedback. It provides a safe space to process negative emotions and develop strategies for growth.
- Perfectionism can be detrimental, especially for product leaders. Embracing adaptability and acknowledging that mistakes are inevitable is crucial for growth and success.
How to find a coach
- Finding a coach can be expensive, but there are alternative ways to receive coaching.
- Joining coaching circles or groups, such as Lean In groups or YPO, provides an opportunity to learn from peers and receive coaching. (01:03:29)
- As individuals progress in their careers and encounter more unique situations, having an individual coach becomes increasingly beneficial.
Lightning round
- Three recommended books are Power: Why Some People Have It and Others Don't and The 7 Rules of Power by Jeffrey Pfeffer, The Conversation by Robert Livingston, and Quiet: The Power of Introverts in a World That Can't Stop Talking by Susan Cain.
- A recent enjoyable TV show is the Fallout TV series.
- A recently discovered product is Threads. (01:07:26)
- A life motto is to treat life like a game.
- The most interesting items sold on Facebook Marketplace were a minivan and a used desk.