How to build your product team from scratch, attract top product talent, go multi-product, and more

Rohini Pandhi is a product leader at Mercury, and previously spent over seven years at Square/Block leading product work on Square payments, invoicing, and the Bitkey hardware Bitcoin wallet. She’s also the co-founder of the startup bootcamp Transparent Collective and is an active angel investor. In our conversation, we discuss: • Key indicators that it’s time to hire PMs • How to build your early PM team • Why founders should initially take on the product manager role themselves • How to attract top PM talent • What she’s learned about going multi-product • A case for investing in quality • More — Brought to you by: • Cloudinary—The foundational technology for all images and video on the internet: http://cloudinary.com/lenny • OneSchema—Import CSV data 10x faster: https://oneschema.co/lenny • Airtable ProductCentral—Launch to new heights with a unified system for product development: https://www.airtable.com/lenny Skip the Mercury Personal waitlist: https://mercurytechnologies.typeform.com/lenny Find the transcript at: https://www.lennysnewsletter.com/p/how-to-build-your-product-team-from-scratch-rohini-pandhi Where to find Rohini Pandhi: • X: https://x.com/rohinip • LinkedIn: https://www.linkedin.com/in/rohinipandhi Where to find Lenny: • Newsletter: https://www.lennysnewsletter.com • X: https://twitter.com/lennysan • LinkedIn: https://www.linkedin.com/in/lennyrachitsky/ In this episode, we cover: (00:00) Rohini’s background (05:00) The role of product managers at Mercury (09:51) Key indicators that it’s time to hire PMs (13:18) Building the product team at Mercury (19:53) Why you should avoid hiring PMs too early (22:26) The different flavors of product management (26:15) How to attract top talent (35:59) Advocating for quality in product development (44:10) Going multi-product (46:37) Organizational structure for multi-product success (50:57) Organizational culture for multi-product success (52:07) Customer obsession and product development (57:36) More lessons from going multi-product (01:05:57) Transparent Collective: supporting underrepresented founders (01:09:54) Lightning round Referenced: • Immad Akhund on X: https://x.com/immad • Mercury: https://mercury.com • Square: https://squareup.com • Product management career ladders: https://www.lennysnewsletter.com/p/product-management-career-ladders • Pioneers, Settlers, Town Planners [Wardley]: https://orghacking.com/pioneers-settlers-town-planners-wardley-9dcd3709cde7 • Jason Zhang on LinkedIn: https://www.linkedin.com/in/jason-zhang-5645a860 • What is ‘Dogfooding’?: https://www.nytimes.com/2022/11/14/business/dogfooding.html • Mercury Bill Pay: https://mercury.com/bill-pay • Zip: https://zip.co • Jira: https://www.atlassian.com/software/jira • The art and science of pricing | Madhavan…