Insights

Master Your First Product Hire: Step-by-Step Guide

Below is a templatized process for hiring your first Product Manager. It includes core intake questions, a scorecard, a case study, and reference questions—ready to copy, paste, and share with your team.

1. Intake

The intake establishes alignment on what success looks like, focusing on measurable outcomes and the competencies required to achieve them.

Core Questions:

  1. What challenges or gaps will this hire address?

  2. What measurable outcomes must the PM achieve in their first 6-12 months?

  3. How do you anticipate they will allocate their time to achieve these outcomes?

  4. What competencies or attributes are critical for success in this role?

  5. What obstacles might they face, and how can the team help mitigate them?

Tactical Considerations:
Reporting structure, location, and compensation should be handled separately with the hiring manager or CEO, particularly when multiple stakeholders are involved in the intake.

2. Scorecard

The scorecard defines the mission, measurable outcomes, and competencies required for success.

Example PM Scorecard

Role Mission:
Own product execution to deliver [specific product or initiative] that addresses [key business challenge], drives measurable impact on [specific metric], and supports strategic objectives.

Outcomes (First 6 Months):

  1. Publish a 6-month product roadmap aligned with stakeholder priorities

  2. Finalize specifications for [specific feature or initiative] and deliver it within X months

  3. Resolve [specific bottleneck] to improve team velocity by X%

  4. Achieve X% delivery of roadmap objectives within scope and agreed timelines

Core Competencies:

  1. Creates clarity in chaos; simplifies complex challenges into actionable priorities

  2. Data-driven decision-making with a structured, logical approach to problem-solving

  3. Relentless attention to detail in execution

  4. Technical fluency, ideally an ex-engineer

3. Research and Approach

Research Approach:

  1. Identify industries, companies, and roles where candidates have solved similar challenges

  2. Focus on individuals with a proven ability to deliver impact in comparable settings

Outreach:

  1. Write concise, personalized messages tailored to the candidate’s background

  2. Highlight the role’s outcomes and why it aligns with their expertise

  3. Anticipate a 10-40% response rate for strong messaging, with most replies occurring after the second message

  4. Copy the CEO or key stakeholders on select messages for additional credibility

4. Candidate Evaluation

Interview Process:

  1. Screening with recruiter or hiring lead

  2. Role-specific interview with the hiring manager

  3. Panel interview, including written case study review and discussion

  4. Final interview with the CEO or decision-maker

Example PM Case Study

Scenario:
The company is scaling its core product for [target audience] while addressing bottlenecks in [specific area].

Prompts:

  1. What three priorities would you focus on for the next six months based on the roadmap?

  2. Identify one initiative to prioritize and one to delay, and explain your rationale using data or assumptions

  3. Propose two strategies to address the most significant bottleneck impacting delivery

  4. How would you communicate these priorities to stakeholders?

Process:
To complete the case, candidates should receive relevant data and context aligned with the prompts. During the panel interview, they present their approach and engage in a discussion, allowing interviewers to ask questions and evaluate how well they demonstrate the core competencies required for success.

5. References

References are a critical step in the hiring process, providing insight into how to set the new hire up for success, complement their skills, and mitigate challenges.

References should include a direct manager, peer, and report (if applicable). The hiring manager should conduct references directly. Completing references before the offer is recommended; if done post-offer, ensure the offer is contingent upon successful completion.

Questions to Ask:

  1. How did you work with [candidate’s name]?

  2. What are they exceptionally good at?

  3. How are they different from others you’ve worked with in similar roles?

  4. What advice would you give to someone managing or partnering with them?

  5. What kind of teammate would best complement their skills?

  6. If they aren’t here in a year, what do you think the reason would be?

  7. What else? (Am I missing anything?)

6. Offer Process

Confirm, verbally, alignment on compensation, equity, and start date before sending a written offer. Share the offer package, including salary, equity, title, and start date. Provide candidates with enough information to reasonably understand their equity in the context of total compensation and their stake in the company—such as valuation, vesting schedules, or ranges for similar roles. Following the verbal offer and confirmation of alignment, send the written offer with a personal note from the CEO or hiring manager.

Closing Notes

For this role, Grace Talent Partners targeted 35 candidates with a 44% response rate. All candidates introduced to the client by GTP advanced to the case study stage, which GTP designed. The finalist received an offer the same day and started within two weeks, delivering results aligned to her scorecard.

Grace Talent Partners specializes in recruiting for founders and CEOs, delivering high-trust precision recruiting rooted in operational understanding and a focus on business outcomes. Reach out to learn more.