Becoming a freelance product manager is probably top on the list of difficult careers to have. Due to its importance, many CEOs frown at the idea of hiring a freelancer for a product management job.
Honestly, they’re right. Being a product manager involves setting and meeting deadlines, working across various teams, planning and strategizing product roadmaps, and lots more. It’s not readily given to someone who wants to work for 5 hrs a day at home.
However, times have evolved. A quick search on LinkedIn reveals over 200 open product management jobs. Many people have found a way to work as freelance product managers while keeping their teams on their toes, and meeting deadlines.
In this article, we share tips on how to become a freelance product manager, and lessons from Maxime Braud, on everything he did to succeed as a freelance product manager.
What Does a Freelance Product Manager do?
A freelance product manager helps businesses and startups develop, launch, and improve products, all while working independently. Here’s a breakdown of key responsibilities:
1. Product strategy
Your primary role is to define a clear product vision, strategy, and roadmap. What product features would be relevant to the existing market? What other features will attract a new market? It’s your job to figure it out.
2. Project planning
You are responsible for creating product roadmaps that guide the development process. This includes defining features, setting priorities, and making sure deadlines are met.
3. Team collaboration
You’ll work closely with designers, developers, and marketers to bring the product to life. You’ll also act as the bridge between these teams to ensure the product meets user needs and business objectives.
4. User research
“I asked to talk to real users, organized user testing sessions to understand usability problems, and quickly spent 80% of my time being a product guy and not a hard-skills guy. My clients loved it. I loved it too,” Maxime shares on being a product manager.
Overall, freelance product managers ensure the product aligns with business goals and user needs.
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How to Become a Freelance Product Manager
Being hired as a freelance product manager is often difficult as the nature of the job requires you to create long-term strategies for the product at its different stages.
But, some companies are open to hiring fractional product managers. If you are in this situation, here are a few things to do to ensure you get that opportunity.
1. Have valuable skillsets
Aside from ensuring your team members meet deadlines or that the engineering team pushes the new feature on the agreed date, what other skills can you offer?
Selling soft skills such as team management, attention to detail, etc. is cool but to beat the invisible standards, you need to offer something more. Maxime Braud, a freelance product manager explains it better, “A freelance product manager sounds like a new species. Nobody wants new stuff. It’s risky.”
However, seeing as he was tired of the rigid lifestyle of being an in-house product manager, he had to find an alternate solution. “It’s hard to sell soft skills. Product sense is a soft skill. So I began by selling hard skills: designing an app, coding a landing page. I’m not the best UI designer or developer, but I can handle a first version.”
You succeed by being a problem-solver. So before approaching a client, pay close attention to their specific needs and offer solutions that align with those needs. This way, clients can see you as a less risky valuable asset.
2. Build your portfolio
Not many people understand what working in product management really is. So use your portfolio to show them.
If you’ve worked as a product manager, whether in-house or freelance, use your portfolio to showcase your key projects. More importantly, highlight your methodology for working in teams and achieving product goals.
Typically, product managers are forced to sync with already existing structures to drive results. However, part of being a “manager” includes being able to create new systems to help everyone work more effectively.
So when discussing projects you’ve worked on, make sure to highlight the things you did differently and the results it created, as this shows that regardless of distance, you can manage your team properly.
Another angle to consider when creating your portfolio is to think of how your previous experiences can bring value to your client. For Maxime Braud, this meant taking time off to create a methodology that helped him work on new products.
“After being a PM for both startup and big tech companies, I didn’t know much more. Sure I had worked on products, but each one of them was different. I had failed to develop a common methodology to guide my steps in the process of making them better. So I took a week off, and flew far from home to think about my previous experiences, read a lot, and talk to people making products I liked. 7 days later, I came back with a precise methodology I could use for my next missions,” he said.
By creating a process from his experiences, he could easily communicate to clients how he could help them.
PS: Here’s a freelance product manager portfolio to inspire you.
3. Talk about your work
It’s not enough that you do good work, you have to talk about it. Let people know your work process, the challenges you’ve faced, and how you overcame them.
Create a variety of content, from ebooks to blog posts, Google slides, videos, etc talking about your work and the strategies you use. By sharing your knowledge with people, you’re not just showing authority, you’re demonstrating your expertise with results to back it up.
Another way to talk about your work is to share your opinions about existing products. There will always be new ways to do things and talking about things from your perspective shows potential clients that you think independently.
If you find a great product with great features, talk about it. Why do you think it's a great feature? Was it launched at a good time? Are there other additions you think would go great with another feature? Talk about it. You never know who is watching!
4. Do your best work
In the words of Maya Angelou, “Do the best you can until you know better. Then when you know better, do better.”
More than all the strategies shared in this article, the best way to become a freelance product manager is to do your best work anywhere you are.
Whether you’re starting as an in-house product manager or a freelance role, always do your best work. Not only does it help you have a good reputation, but it also leads to more referrals and recommendations.
A good way to start is to make notes and document everything. Good documentation saves you from making costly mistakes down the line.
What is the Salary of a Freelance Product Manager?
The salary of a freelance product manager can vary widely based on experience, location, and the scope of the projects.
On average, freelance product managers earn between $100 to $200 per hour. Annual earnings can range from $60,000 to over $150,000, depending on the number of clients and the complexity of the work.
Since most freelance product manager roles are long-term, you can also charge monthly fees of $13,000. Factors like industry demand, specialization, and negotiation skills also play a significant role in determining pay.
For those working with well-established companies or larger organizations, project fees can range from several hundred to several thousand dollars, depending on the complexity of the work involved. Freelance platforms such as Expaat also offer opportunities to earn competitive rates.
Overall, your earning potential as a freelance product manager depends largely on your ability to market your skills, find and retain clients, and continually improve your expertise.
What is the Best Freelancing Site For Product Managers?
Some common sites for finding freelance product manager jobs include;
1. Mind the product: This platform is focused on product management resources and events, offering job listings specifically for talents in the product space( product designer, product manager, etc.)
2. Indeed: A popular global job search site that lists a wide range of freelance product management opportunities.
3. Expaat: A freelancing platform that connects tech professionals with international companies, including remote product management roles.
4. LinkedIn: A professional networking site where freelance product managers can find job postings, connect with potential clients, and build their personal brand.
5. Toptal: A highly selective freelancing platform that matches top-tier product managers with high-profile companies seeking specialized talent.
SEE ALSO: 7 Interview Tips for Freelancers to Help You Land Your Dream Job
Tips to Succeed as a Freelance Product Manager
Here are five tips to succeed as a freelance product manager:
1. Build a strong portfolio: Showcase your previous projects and achievements to demonstrate your expertise and attract clients.
2. Master communication skills: Effective communication with stakeholders, developers, and clients is key to managing projects successfully.
3. Stay organized: Use project management tools to keep track of tasks, timelines, and deliverables, ensuring smooth workflow and client satisfaction.
4. Network regularly: Actively engage with industry professionals, attend events, and leverage platforms like LinkedIn to expand your network.
Can You Really Become a Freelance Product Manager?
Yes, you can. However, people typically freelance certain aspects of product management such as Design consulting, Business strategy consulting, Go-to-market consulting, Project management, etc.
Judging by the nature of the job, it’s hard to freelance it alongside other gigs that you may have. This is because product managers are the first contact point for everything regarding a product.
Nonetheless, we can’t completely rule it out as a quick search on Google reveals lots of product management jobs to apply for.
So, the key to becoming a freelance product manager starts with doing your best work in whatever capacity you’re in whether in-house or contract.
If you want to begin your journey to freelancing, quickly sign up on Expaat to work with global clients.