To thrive as a New Grad Product Manager, you should have a solid understanding of product development, market research, analytical thinking, and a relevant bachelor's degree, such as in business or engineering. Familiarity with tools like Jira, Trello, data analytics platforms, and user feedback systems can be very beneficial. Strong communication, adaptability, and collaboration skills help you effectively work with cross-functional teams and manage multiple priorities. These competencies are crucial for delivering valuable products that meet user needs and align with business goals in a fast-paced environment.