Hire a PM First
Founder has strong product thesis. Needs operating leverage. Surface area growing but direction is clear.
When
Backlog management is the bottleneck
Hire Senior First
Higher ACV, complex commercial motion. Founder still owns every tradeoff.
When
Product strategy is the bottleneck
Use Fractional First
Company needs structure before a full seat. Bottleneck is system design, not PM throughput.
When
Role definition is the bottleneck