You inherited a team/product riddled with issues. What are you going to do as a PM?

Certainly. I'll provide a detailed, strategic answer to the question "You inherited a team/product riddled with issues. What are you going to do as a PM?" from the perspective of a seasoned VP of Product interviewing for a senior product leadership role. I'll follow the structure and guidelines you've provided.

Introduction

As a product leader stepping into a challenging situation with an inherited team and product facing multiple issues, my primary objective is to stabilize the situation, identify the root causes of the problems, and develop a strategic plan to turn things around. This approach will not only address immediate concerns but also set the foundation for long-term success and growth.

Key business objectives tied to this product strategy include:

1. Stabilizing the product and team
2. Improving product performance and user satisfaction
3. Enhancing team productivity and morale
4. Aligning the product with overall company goals
5. Setting the stage for sustainable growth

I'll outline my strategic approach in the following steps:

1. Clarify the strategic goals
2. Conduct a comprehensive situation analysis
3. Define a new product vision and roadmap
4. Prioritize strategic initiatives
5. Develop an execution plan
6. Establish metrics and KPIs
7. Implement risk management and contingency planning

Step 1

Clarify the Strategic Goals (3-4 minutes)

To ensure we're addressing the right problems and aligning with the company's priorities, I'd like to clarify a few key points:

• Based on the current state of the product, I'm curious about its alignment with the company's overall mission. Could you help me understand how this product fits into the broader company strategy and what its primary objective is meant to be?

Why it matters: Determines if we need to realign the product strategy with company goals Expected answer: The product is meant to be a key revenue driver but has underperformed Impact on approach: Would focus on revenue-generating features and market positioning

• Considering the issues we're facing, I'm wondering about the product's current lifecycle stage. Can you give me an idea of where we are in terms of market penetration and growth trajectory?

Why it matters: Influences whether we prioritize user acquisition or retention/monetization Expected answer: Early growth stage, with a solid user base but struggling to scale Impact on approach: Would balance fixing core issues with implementing scalable growth strategies

• Given the team challenges, I'd like to understand more about the organizational structure and resources available. Could you provide some insight into the size and composition of the team, as well as any significant resource constraints we're facing?

Why it matters: Helps in planning realistic improvements and resource allocation Expected answer: Mid-sized team with skill gaps and limited budget for new hires Impact on approach: Would focus on upskilling existing team members and optimizing processes

• Lastly, I'm keen to understand our competitive position. Can you share some information about our main competitors and how we're currently positioned in the market?

Why it matters: Informs our differentiation strategy and prioritization of features Expected answer: Strong competitors with better user experiences, but we have unique data assets Impact on approach: Would leverage our data advantage while improving core user experience

Based on these answers, I'll synthesize the key strategic assumptions that will guide our solution approach.