What it takes to be a CPO

In 2020, dozens of companies named their first Chief Product Officer. This expansion of the C-suite is the result of many companies focusing on being more customer-centric in their business decisions. There are now over 10,000 people who list their title as CPO on Linkedin. Sometimes it’s an internal VP of Product that was promoted, but often it’s an outsider who was hired to fill the role.

So what does it take to become a CPO?

Let’s start by exploring what a CPO does. Though this varies in each organization, the role centers on setting and leading the company’s product strategy. As a C-level position, the person who holds it should have authority to make decisions. They should be viewed as a partner for the CEO to execute on their grander vision for the company.

Recently, the CPO title has been a little diluted because of how many startups give it to the most senior product person independent of their experience or authority. If the individual is only executing on a strategy that is being established by other execs, they aren’t functioning as a real CPO. On the flip side, there are many VPs of Product (often with an A,E,S before the VP) who are trusted partners of the C-level execs and perform many CPO duties without the title.

Confused yet? That’s part of the lack of standardization around the roles. Product management is a relatively new field, so product leadership within an organization is even newer and less defined. Which is why we at Produx Labs want to join the conversation and put some stakes in the ground.

The roles of VP of Product and CPO vary in scope of responsibility and therefore the skills and experience that lead to the position are different. If you know what each person is expected to do, then it’s easier to understand why certain backgrounds are helpful (but not required).

Effective VPs help define and oversee the efficient, effective delivery of the product strategy. Some VPs are experienced enough to manage portfolio strategies as well. A CPO works with a CEO to construct complex portfolio-scale, often multi-geography product strategies. They present strategic alternatives to the exec team and with a point of view as to the best option for company growth. A CPO then aligns the entire organization around the delivery of that strategy. One level is execution-focused, and the other is more strategic.  The more complex your business strategy, the greater the likelihood that a CPO should be at the helm. 

As you can see, whether you are a CPO or a VP of Product, there is a lot on your plate. The skills and experience that lay a solid foundation to fulfill the roles and responsibilities of each position are similarly stratified. Below are the skills and experience that when a person has before taking the position have been found to help each level of product leader succeed in shaping the organization and strategic processes. 

A good way to think about the items on the list for VP of Product in the below chart is that those items get you to that level, so that you can do the work in the above chart. While in your VP of Product role, you will have the experiences listed on the CPO column below and qualify for a higher position down the line to have the responsibilities above. 

Note: All Skills start with a “can,” and are independent of the Experience items which start with “has.” We believe having previously done something is a good indicator of future abilities, but also know that some people have the ability to do something even if they haven’t done it before.  

If you are excited by the roles and responsibilities of the CPO but think you more so have the skills and experience associated with the VP of Product, that’s A-OK. There is time to advance your career and become a C-level executive. Ask your boss and peers where you already excel and where there is room for improvement. Then, volunteer for projects at your current company to fill some of your gaps. Join a program like the CPO Accelerator to develop the skills and gain the knowledge to crush it when you get that position. Read a business book like The Hard Things About Hard Things to learn about the executive perspective. There are more opportunities than ever to advance yourself professionally- go find one that works for you.

Tami Reiss is the SVP of Product Strategy at ProduxLabs and the CPO in Residence at Insight Partners. She writes about how Product Leaders can do more to focus on what’s important for a company’s growth and streamline internal processes to yield results. You can follow her on Medium or @tamireiss on Twitter.