I recently left my job as a compliance officer at a financial services firm to join a compliance software company as a domain expert. The jump is larger than I expected. There is a lot about the software development process that eludes me. I am trying to understand what product management is or rather what its role is so I can produce better work product.

product-development product-management software-development

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The answer depends on many factors, like track record, industry, location, management team, financial health and more. One good place to start is comparative industry data. The more specific you can be about the industry and other factors the better. The consulting firm McKinsey published data based on a 10 year analysis of non-financial firms. The median Revenue Compound Annual Growth Rate (CAGR) was 5.9% for non-financial firms. The study was inflation adjusted and covered 1997-2007. That is obviously a bit dated now, but is does cover the internet boom and crash. You can certainly do better than that number. There are several sources of industry growth rates. The link from NYU school of business is the more granular perspective. The most important indicator of future growth is past growth for the company you are modeling.

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