Succeeding as an introvert, building zero-to-one, and PM’ing your career like a product | Deb Liu

Introduction to Deb Liu (0s)

• Deb Liu has held executive positions at Facebook, eBay, and PayPal. (2s)
• She has also served on the board of Intuit. (4s)
• For the past three and a half years, she has been the CEO of Ancestry. (6s)

Deb’s career journey and key advice (2m18s)

• The speaker's interest in product management began after a conversation with a recruiter and a product manager led to a job offer. (7m40s)
• The speaker believes that continuous learning is crucial for career success, emphasizing that expertise in a particular area is not the ultimate goal. (3m1s)
• The speaker believes that career paths are not linear and encourages individuals to embrace new challenges and be willing to learn from others. (3m19s)

Navigating new roles and challenges (9m45s)

• 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. (10m12s)
• Aspiring product managers should focus on demonstrating their enthusiasm for the problem the company is trying to solve and the target customer. (10m36s)
• Being genuinely excited about the work and the company is a prerequisite for success as a product manager. (11m2s)

Overcoming adversity and failure (11m27s)

• The most successful people are those who have experienced adversity, learned from their failures, and used feedback to improve. (11m41s)
• Overcoming challenges and setbacks builds resilience and strength, much like a tree bending in the wind. (12m21s)
• It's important to embrace adversity and view it as an opportunity for growth rather than striving for a life without challenges. (12m39s)

Building billion-dollar businesses at Facebook (15m7s)

• The speaker built the first direct response ad product at Facebook, which became a significant source of ad revenue for the company. (15m57s)
• 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. (16m11s)
• 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. (18m54s)

Strategies for zero-to-one innovation (19m33s)

• The most important element for fostering innovation is patience, recognizing that innovation is a portfolio strategy with inherent risks and a significant failure rate. (19m59s)
• 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. (22m34s)
• 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. (23m5s)

PM your career like a product (23m40s)

• Many people drift from job to job without a plan for their career. (24m20s)
• It is important to have a plan for your career and to think about what you want to achieve in the future. (28m28s)
• 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. (30m49s)

Challenges and strategies for introverts in business (33m53s)

• Introverts are often overlooked in the workplace, despite their skills and contributions. (34m22s)
• Introverted professionals need to become their own best marketers and share their accomplishments to gain recognition. (36m22s)
• Workplaces should be designed to accommodate different communication styles, allowing introverts to contribute effectively. (36m38s)

Reframing self-promotion (39m19s)

• Reframing self-promotion as educating others about a team's accomplishments can make it feel less self-serving. (40m6s)
• 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. (41m21s)
• Sharing knowledge and experiences publicly can be beneficial, and individuals should focus on providing valuable content rather than seeking attention. (42m22s)

The power of accountability (42m25s)

• A manager requested a monthly written and published work as part of a work agreement. (43m16s)
• The manager's request resulted in consistently writing and publishing content for years, including a book. (44m21s)
• Accountability, whether from a manager or a friend, can help individuals overcome the initial hurdle of sharing their work publicly. (45m43s)

Growth: a game of inches (46m15s)

• Growth is about making small, incremental improvements over time, such as increasing efficiency by 1% each week. (46m41s)
• Many small improvements can lead to significant growth, and it's important to experiment with different ideas, even if some fail. (46m58s)
• Growth teams should focus on optimizing existing products and features to enhance user experience and accessibility, rather than solely focusing on developing new products. (50m15s)

The 30-60-90-day plan (50m52s)

• A 30-60-90-day plan, focused on listening and learning before doing, can be beneficial for anyone joining a company. (51m14s)
• The plan encourages new hires to spend the first 30 days listening to colleagues, summarizing their feedback, and identifying challenges and wish lists. (52m24s)
• 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. (53m57s)

Contrarian corner: career and marriage (56m52s)

• The most crucial career decision an individual makes is who they choose to marry. (57m20s)
• Having a supportive home life is essential for a successful career, especially for individuals in demanding careers and those with children. (57m44s)
• When choosing a life partner, individuals should consider the long-term impact of the relationship on their career and overall well-being. (58m11s)

Final nuggets of wisdom (58m57s)

• 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. (59m22s)
• 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. (1h1m32s)
• Perfectionism can be detrimental, especially for product leaders. Embracing adaptability and acknowledging that mistakes are inevitable is crucial for growth and success. (1h2m57s)

How to find a coach (1h3m9s)

• Finding a coach can be expensive, but there are alternative ways to receive coaching. (1h3m19s)
• Joining coaching circles or groups, such as Lean In groups or YPO, provides an opportunity to learn from peers and receive coaching. (1h3m29s)
• As individuals progress in their careers and encounter more unique situations, having an individual coach becomes increasingly beneficial. (1h3m54s)

Lightning round (1h4m47s)

• 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. (1h4m54s)
• A recent enjoyable TV show is the Fallout TV series. (1h6m40s)
• A recently discovered product is Threads. (1h7m26s)
• A life motto is to treat life like a game. (1h8m43s)
• The most interesting items sold on Facebook Marketplace were a minivan and a used desk. (1h9m7s)