The Ledger
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Pandey: Mercury's converted business leads struggled with core PM competencies
“The problem with that became they weren't PMs. They didn't have experience in the PM role. And so kind of the core, maybe the basics of what product management needed internally were missed. Like, strategic planning wasn't exactly right, or road mapping was re…”
Pandey: Housing new product teams inside mature orgs starves new products of resources
“Having new product areas, new seedlings being too close within the, like, true org structure to the core banking or payments or mature products made it hard for that new product to even grow because they were always being, Pulled in, sucked in the gravitationa…”
Pandhi: Do not attempt to revenue-optimize immediately after launching new products
“I think that's a really important lesson of don't go from launch to try to like revenue optimize or find that efficiency immediately. I think you, what we really want is to give away that the second product, the third product for free encourages much usage and…”
Pandhi: Fintech products require precise UI details to earn customer trust
“Especially when you're in like a boring industry, like fintech, meaning like it's just
Unsexy. There's not a lot of you know, it's not like this consumer exciting app, but you need the details to be precise, to be intentional in order to breed that trust and c…”
Mercury operated with no PMs until reaching roughly 400 employees
“Prior to two years ago, there were no PMs at the company, and I think at that time, there was probably close to 400 employees across Mercury. I'd say at least half of them were in some level of, like, the R&D role, so engineering, design, those types of Core r…”
Mercury regrets waiting until 400 employees to hire product managers
“And I think in hindsight, we should probably done the official transition to the PM role a lot sooner, but you know, hindsight's always twenty-twenty.”
Pandey: Mercury uses open-topic presentations to evaluate PM craft and depth
“A good example is we still go through, we have this mercury presentation in our interviews. And it's, the prompt is very, very generic. It's like, just talk about something that you're interested in and talk in depth to a panel about it. And what we're really …”