Christian Idiodi and Lea Hickman, partners at SVPG, dive into the art of stakeholder collaboration. They clarify the true nature of stakeholders and how to engage them effectively. The duo emphasizes proactive approaches and the benefits of one-on-one conversations over group meetings. They share insights on transforming stakeholders from barriers to enablers, navigating stakeholder-driven roadmaps, and the importance of building trust. With real-life examples, they equip listeners with tactical advice to enhance collaboration in product management.
Understanding the difference between stakeholders' voices and votes is crucial for product managers to prioritize effective collaboration.
Proactively engaging stakeholders early in the decision-making process fosters trust and transforms potential roadblocks into valuable collaborations.
Deep dives
Understanding Stakeholders and Their Roles
Stakeholders in an organization are defined not merely by their vested interest or opinions, but importantly by their ability to influence decisions, specifically through what is termed as 'veto power.' Having a voice in discussions is common, yet it is crucial to distinguish those who can truly impact product direction from those who cannot. Product managers must focus on identifying who genuinely holds voting power, as managing the opinions of all employees could overwhelm efforts and dilute focus. Ultimately, understanding the difference between voices and votes helps product teams prioritize collaboration effectively.
Proactive Stakeholder Engagement
Proactively engaging with stakeholders is vital for product managers, as it fosters a collaborative environment where problem-solving becomes the primary focus. Regular communication and involving stakeholders early in the decision-making process contribute to building trust and ensuring alignment on project goals. When product managers avoid hiding information from stakeholders, they open pathways for partnership rather than merely reporting progress. This approach transforms stakeholders from potential roadblocks into valuable collaborators in achieving product objectives.
Navigating Constraints and Opportunities
Product management often involves navigating constraints posed by legal, operational, and compliance issues, which can be perceived as blockers yet may also serve as significant opportunities for innovation. For instance, realizing that a legal compliance issue is not an outright stop sign but rather a challenge to be met can drastically change a product's trajectory. The experience of collaborating closely with legal and operational teams allows product managers to redefine how they approach challenges, turning potential setbacks into actionable tasks. This mindset shift encourages product teams to see constraints as integral elements of the problem-solving framework, rather than impediments.
The Importance of Evidence-Based Decision Making
In product development, collecting and analyzing evidence before implementing stakeholder suggestions is essential to ensure that the resulting features deliver real value. Stakeholder-driven roadmaps may yield many features but can often disconnect from organizational goals if they lack strategic alignment. Leaning on objective-based roadmaps aids in reinforcing the shared definition of success between product teams and stakeholders, ensuring that everyone understands key performance metrics and outcomes. This evidence-driven approach helps navigate stakeholder expectations and improves decision-making by prioritizing the most impactful solutions.
In this episode, Christian Idiodi and fellow SVPG partner Lea Hickman go deep on stakeholder collaboration. They explain what a stakeholder is and exactly how to collaborate with them. Learn from real life examples and tactical advice for avoiding common pitfalls.
[00:04:12] Example of identifying and engaging stakeholders
[00:09:35] Example of stakeholders being enablers, not barriers
[00:11:01] The importance of being proactive
[00:13:21] Engaging via documents vs conversations
[00:16:13] Why one-on-ones are better than group meetings
[00:17:53] The value of engaging with the sales team
[00:19:43] Navigating stakeholder-driven roadmaps
[00:24:24] How to help stakeholders understand customer problems
[00:27:14] The rule of improv in stakeholder engagement
[00:28:23] Outro
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Disclaimer:
While this podcast is named “Product Therapy”, it is not hosted by licensed therapists or mental health professionals, and it is in no way a substitute for professional mental health services. We recognize the importance of mental well-being and encourage anyone facing personal difficulties to seek support from qualified professionals. See https://findahelpline.com/