Product Management Software

3 Product Management Software Success Stories [2024]

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Updated: September 24th, 2024

Think managing products across various teams and timelines is challenging? Enter product management software. This business idea revolves around creating a platform to streamline project tasks, timelines, and team collaboration.

In essence, product management software helps businesses plan, execute, and monitor product development in a single, consolidated interface. It simplifies communication between product managers, developers, designers, and stakeholders, ensuring nothing falls through the cracks.

The demand for such tools is growing as companies seek efficiency and clarity in their product lifecycle. Developing this software would require you to focus on user-friendly design, seamless integration with other apps, and robust data analytics to appeal to your clients.

With a solid understanding of software development and market needs, starting a product management software business can be a rewarding venture. The key lies in identifying pain points and crafting solutions that genuinely enhance productivity and collaboration in product management processes.

In this list, you'll find real-world product management software success stories and very profitable examples of starting a product management software that makes money.

1. Product Focus ($1.8M/year)

Ian Lunn and his co-founder Andrew Dickenson started Product Focus after seeing a need for high-quality product management training. With their background in product management and marketing, they launched their first public course in 2006 and have since grown to become the European leaders in product management training. They have adapted their business model during the pandemic and continue to provide world-class training online. [Word count: 36 words]

How much money it makes: $1.8M/year
How much did it cost to start: $10K
How many people on the team: 5

How We Created A $1.8M/Year Product Management Course

Product Focus has become the European leaders in product management training, running multiple courses every week and receiving over 20,000 subscribers for their resources in 2018, now providing both face-to-face and online training options after COVID forced them to pivot their business model.

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2. Ora ($252K/year)

Nikolay Mihaylov, along with his co-founders Vasil Enchev and Nikolay Yanev, came up with the idea for Ora PM while working at Codemotion in 2015. As they were managing their work with existing project management systems like Trello and Slack, they realized the need for a more sophisticated system with time tracking. Unable to find a suitable solution in the market, they decided to create their own project management system, which eventually evolved into Ora.

How much money it makes: $252K/year
How much did it cost to start: $50K
How many people on the team: 5

How Developing An Internal Solution Led To Building A $21K/Month Project Management System

Ora PM is a project management system that generates an average monthly revenue of $21k, and is designed for use by individuals as well as companies with big projects.

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3. Product Lab ($104K/year)

Long, the founder of Product Lab, came up with the idea for his business after realizing that many startup founders in Vietnam lacked a product mindset. With his co-founders Thinh, Boris, and Ben, who are experts in product development and management, they established Product Lab to provide consulting and training services in digital product management. Despite the challenges of being the first player in the market and a limited budget, Product Lab has achieved impressive milestones, such as being sponsored by Techfest 2020, working with big corporations like Vinpearl and Vinfast, and hosting a webinar with BUV during the COVID-19 pandemic.

How much money it makes: $104K/year
How much did it cost to start: $5K
How many people on the team: 2

How We Started A $104K/Year Digital Product Management Consultancy Firm [Vietnam]

Product Lab is a digital product management consulting company in Vietnam that offers consulting and training services and is the pioneer in digital product management consulting in the country.

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