Building a well-rounded product team requires a combination of planning, recruiting, and development. By taking the time to identify the skills and expertise that will be needed, building a team around those needs, and then providing the necessary resources and support, you can build a high-performing team.
Instead of focusing on numbers and putting out a generic product management requisition to kick-start hiring, spend time strategically thinking and planning about the needs and composition of the product team. A good place to start planning is to put down 1,2 and 3-year business goals and objectives. This will help you identify skills needed in the team as well as plan out team growth. For example, if the goal is to introduce a new product line this year with the target persona for developers, you need someone on the team who is technical and ideally had been a developer in their previous life. Similarly in year 2, your goal is to add support for FedRAMP, you will need someone on the team who has experience with FedRAMP. You, however, don't need to hire for this role and skill immediately. You can start hiring for this role in potentially Q3. To summarize, the first and most critical step in building a well-rounded team is to identify how many product managers you need currently, what is the incremental number and what are skill sets needed to achieve the business goals and objectives.
Once you have defined your team's growth plans, make sure you make your recruiting team aware so they can schedule their sourcing plans accordingly. When hiring, it is critical to not only focus on the skills and experience but on their temperament and how they will collaborate and communicate with others on the team as well as cross-functionally. It is important to make sure every hire you make has clearly defined ownership and is given proper onboarding.
After putting the right team is in place, your job is to make sure the team is aligned on the shared goals and vision and feels empowered to make trade-offs and decisions to drive positive outcomes for their areas of focus. In addition, as a leader, you will need to build an inclusive and open culture that fosters collaboration and communication within the team.