Many Jobs - 2Deliverables

A good PM does not simply collect a list of requirements. Like a good physician, they diagnose a customer's situation, understand the customer's environment and capabilities, and determine the customer's desired outcomes. Once they understand the why, they can then prescribe the what - a fit for purpose solution that customers can use to realize better outcomes. 

Good PMs realize that customers living the in the land of pain don't always recognize future benefits immediately. The PM builds an easy to travel bridge so that the customer can visualize and embrace the better world a solution will create. 

Companies survive when they make more than they spend. A PM targets the right markets, with the right features, at the right price point so that the company makes money and the customers get a bargain. 

PMs are proactive. They never wait for a problem to occur. They anticipate possible issues with customers, development, and product. They have mental models of how to react in adverse situations, and if they occur, they are ready to execute correct action immediately. 

Products always take longer than desired, and customer often become impatient. Great products should be a challenge to build. Securing price premiums should push you outside your comfort zone. In all these areas of uncertainty, the PM is the one who keeps development teams motivated, and customers engaged. They can see their stakeholders through the storms of doubt to the dawn of success. 

Product Managers must profitably deliver desired benefits to customers. Whatever may get in the way of that mission must be overcome. PMs can tell management why certain things are prioritized over others, or what can be accomplished with increased investment. They can sooth irate customers and explain why a product may be delayed and confidently assure then when it will be delivered. Whenever there is a question, the PM needs to quickly gather the experts then synthesize and articulate an answer.