I need Product Designer

I am transfering to a college in New York City for Product Design and I would like to know what its like to work as a Product designer. I know that the field is very broad, but I would appreciate any answer for the following questions. Thank you

What do you think is the most important quality to have for this job?
What is the most difficult part of this job?
What kind of career options are there for this position?
What do you think would be the immediate challenges would be for someone new?