Product Question #12 - How to create effective relationships with business stakeholders?

Building strong relationships with stakeholders is key for product managers, crucial for aligning products with business objectives and driving successful, collaborative outcomes.

Hey, everybody, this is Vincent and welcome to a new product question.

“Product Questions” is a new format I'm experimenting with. So please, if you have any feedback on what you're going to watch, please feel free to share it with me.

In just a few minutes, I'll tackle one very concrete question from the field, from the teams I'm coaching. I aim to provide a quick deep dive with tangible insights that can help you on a daily basis. I think in the product world, we often struggle with high-level theories that are hard for people to relate to and understand how to apply those concepts in tangible ways for immediate action.

So, let's dive into one topic: today, I'd like to talk about business stakeholders and setting up great relationships between business and product teams. The question I got was how to deal with business stakeholders when there is no history of collaboration. This is super interesting because we might be in a context where the product model is new, the product person is new, the product team is new. So, what changes can we make? There might be something completely new to build, or perhaps some things to change or catch up with.

Here are three quick things I can share to help you: (And again, if you have questions, feel free to comment. I'll be happy to give more details.)

Product Leaders need to share their strategic context

The role of the product leaders is crucial. They are responsible for the strategic context, product vision, product strategy, and a team's topology, which includes how teams are split and organized, encompassing marketing, sales, operations, and other stakeholders. It's vital for product leaders to proactively evangelize, explaining the direction and decisions of the product team to build trust and familiarity. This foundational trust is essential for teams to be impactful and trusted by stakeholders.

Product Team: Be proactive!

Team-level proactivity is also key. Don't be passive whether you're a product manager, designer, or team lead. Engage proactively with stakeholders. For example, this might involve having regular lunches or seeking mentorship from a VP of Sales. Building these relationships can help stakeholders understand and trust your work, allowing you more freedom to operate effectively.

Polish and adapt your visual artifacts

The presentation of your documents is as important as the content. A well-presented product vision, such as a compelling video, can be more impactful and shareable than a lengthy text document. Tailor your roadmaps to different audiences, like sales or marketing teams, to make them relevant and engaging. It's not just about using tools; it's about communication and relationship building.

In conclusion, these steps can help build positive, constructive relationships with stakeholders, based on trust and mutual understanding. This can eventually give you the space to do great product work.

Let me know if you have any questions. I hope this was insightful, and I look forward to seeing you soon for a new product question.

Thank you all, and see you soon for a new product question!