Setting priorities is crucial for a product manager. Here are the steps I follow to set priorities: 1. Define the goals: The first step is to define the goals of the product. This could be revenue, customer acquisition, retention, or any other metric that is important for the success of the product. 2. Identify the tasks: Once the goals are defined, the next step is to identify the tasks that need to be completed to achieve those goals. This could be creating new features, improving existing ones, fixing bugs, or any other task that is relevant to the product. 3. Evaluate the tasks: After identifying the tasks, the next step is to evaluate them based on their impact on the goals. This involves analyzing the potential benefits, risks, and costs associated with each task. 4. Prioritize the tasks: Based on the evaluation, the next step is to prioritize the tasks. High-impact tasks should be given the highest priority, followed by medium-impact tasks, and then low-impact tasks. 5. Communicate the priorities: Once the tasks are prioritized, it is important to communicate the priorities to the team. This helps everyone understand what tasks are most important and how they can contribute to the success of the product. By following these steps, a product manager can effectively set priorities and ensure that the team is working towards the most important goals.