Great product managers seek feedback and new ideas from users, customers, developers and all other stakeholders that challenge (rather than reinforce) their point of view. Processing incoming feedback is not enough, though. Active solicitation of feedback is key to getting more inputs from more sources in a shorter amount of time.
Soliciting feedback does not mean product plans change course with every new piece of input. The best product managers are those who can define and articulate clear and consistent product vision while constantly evaluating it. This duality is one of the hardest things in getting product management right.
The trick is finding the point where feedback merits changing course. Small changes are usually easy to digest and act on, but acknowledging that key parts of your vision are flawed and that so much energy and effort are about to go down the drain goes against our nature and our inherent tendency to stay on course and reach our goal, even it’s no longer the right goal. This is why so many companies fail to pivot in the face of overwhelming evidence that their business models are not working and their products fail to fit market needs.