In my last post, I introduced the Product Canvas — my iteration of the Business Model Canvas — as a simple and quick way to capture my idea for a product. I’ve also used it as a communication tool to share my product vision and get early feedback, which is critical in the beginning stages of exploring a new product opportunity.
I’ve been sharing the Product Canvas with anyone who’s asked, and early feedback has been encouraging. One of the biggest things that seems to be resonating with folks is the Key Stakeholders box.
Look, I’ll admit, managing stakeholders is cumbersome, tiresome, and at times a pain. There, I said it. Admit it: you’ve felt that too. In my research on the business case process, a large majority stated that maintaining stakeholder support and alignment is important, but a challenge.
But I’ve learned the hard way that identifying and aligning stakeholders is really important for any initiative. So that’s why I put it in the Product Canvas. The reality is lack of stakeholder support can kill any brilliant idea at any stage.
When I came across Steve Blank’s Customer Development methodology, I wondered if its principles could be applied to internal stakeholder support. In other words, I wondered if it was possible to “develop” stakeholders too?
Here’s the Customer Development process. Steve’s bottom-line advice is to “get out of the building”.
So if apply this to “Stakeholder Development”, I’m thinking the process would look something like this:
In this case, the bottom-line activity is to “walk the building”!
I figured this provided me as good a workable framework as any to identify, build and grow stakeholder support, and then I decided to put it to the test.
Through much trial and error, here are some tactics I’ve applied to Stakeholder Development. I’ll admit I haven’t fully cracked the code, and continue to experiment and learn. By sharing here, I’m hoping others may try as well and share their feedback.
I try to follow a systematic process for identifying my stakeholders, sharing my vision, capturing their feedback, and creating traction. I’ve been experimenting with applying Lean Startup’s Build-Measure-Lean loop for the purposes of doing this, and over time, I’ve developed a basic meta pattern:
So now that I’ve got a workflow I can follow, my first step is to identify who I think are my primary stakeholders, and I capture this in the Key Stakeholders column of my Product Canvas. Sometimes I already know ahead of time. In that case, I simply list them in the Product Canvas. But I have been in situations where I wasn’t entirely sure who were my key stakeholders. In this case, I capturing my hypothesis for who they may be.
I also try to identify a possible executive champion or sponsor – something I’ve learned is practically a requirement in a larger organization to ensure the success of any initiative.
So my Product Canvas could look something like this:
I’d have actual names in the box, of course. If I don’t know who my executive sponsor will be (insider’s tip: it’s not always your boss), I don’t put a name, but I definitely call it out so it’s always at the forefront.
Next, I formulate hypotheses to approach my potential stakeholders. Going back to the Stakeholder Development flow above, notice a key question is “What are their agendas?” Remember: everyone has their own set of priorities. Some are visible, like a project deliverable; but some are invisible, like organizational political pressures. (Like it or not, these exist.) The more knowledgeable I can about their priorities, the better I can position myself to either gain their support or counter their arguments. At worse, I’ll have identified a potential detractor early on.
I then “walk the building”, reaching out and setting up meetings. For stakeholders with whom I don’t have a close relationship, who barely or don’t know me, I try to figure out ways to get an intro, just like one would do with customer interviews.
Setting up and conducting these conversations may be time consuming, but they are invaluable to validate who are my real stakeholders, and what I’ll need to do to get their buy-in.
I maintain a simple log to track my progress that I call my Stakeholder Development Tracker:
There have been times I’ve discovered that someone who I thought would be an important stakeholder, actually isn’t. Great: I just mark their Role and Status as as N/A, and move on. Other times, I discover that someone I originally hadn’t identified is actually going to play a significant role in the approval and/or execution of my project.
As I validate who are my true stakeholders, I update my Product Canvas.
These stakeholders are the ones I really want to focus on, the ones with whom I want to create traction. If I play my cards right, I can convert them from supporters to advocates to where they are actually personally vested in the success of my initiative.
As I said, I’ve been experimenting with this as a framework. It’s a work-in-progress, and I’ve enjoyed some success. Give it a whirl yourself, and let me know what works or doesn’t. If you have an approach to Stakeholder Development that’s worked for you, please share.