AMA: Bumble Former Director of Product, Yasmin Kothari on Stakeholder Management

This is the constant battle of product management! To work with your executive team and narrow the focus, you should: * Always align on the goals - constantly make sure everyone understands and agrees on the strategic objectives. Write them down, so it’s easy to refer back. * Make data-driven decisions - use qualitative and quantitative data to showcase how you are prioritizing projects with the most impact * Keep an open mind - when new ideas surface, dig deeper to understand the “why” behind them. You may uncover some new potential for impact. * Meet regularly - Schedule regular reviews with executives and stakeholders to revisit goals, assess risks, and adapt as needed

When you decide not to prioritize a stakeholder's request in your roadmap, make sure to: * Acknowledge and empathize - Recognize their effort and express understanding; they will likely be disappointed, and your empathy will go a long way * Highlight prioritization process - Explain how decisions are made based on various factors (like cost to build and impact) and organization objectives. * Provide a transparent explanation - Clearly explain the decision, and what factors went into the decision making process * Maintain an open channel of communication - Encourage ongoing dialogue, feedback, and potential alternative solutions to their underlying needs

Disagreements among stakeholders typically stem from three key factors: * Differing underlying goals - Each stakeholder is optimizing for their primary goal and if these goals are conflicting, there will be a mismatch * Varying strategies on how to achieve a goal - Especially in a world with limited resources, each stakeholder may have conviction in a different initiative, even if their goals are the same * Cultural issues - There may be a communication gap or trust deficit that contributes to disagreements To foster alignment and resolve disagreements: * Prioritize communication - Encourage open, transparent conversation and bring people together in one room to avoid misunderstandings. In these situations it’s better to over communicate than under communicate * Establish common goals - Identify shared interests and objectives to bridge differences and find common ground * Leverage objective data - Employ both qualitative and quantitative data to help stakeholders make more informed decisions * Nurture relationships - Invest in building positive, lasting relationships. Get to know stakeholders on a personal level and maintain connections even when not working on immediate projects together

Junior product managers can face challenges when working with executives around: * Communication - articulating complex ideas concisely. To combat this, think through what are the key 2-3 points you want this busy executive to take away from this meeting and use visuals, data, and examples to illustrate those ideas effectively * Influence - convincing executives and managing expectations. To combat this, build a compelling case based on data and user insights. Show how product decisions align to the company’s broader strategic goals * Adaptability - handling shifting priorities and pressure to perform. To combat this, stay informed about market trends, customer needs, and emerging technologies. Cultivate a mindset that embraces change and focuses on long-term product vision while addressing shifting priorities

As many of us now know, aligning stakeholders in a remote working environment presents unique challenges. To foster alignment, consider the following strategies: * Agree on shared objectives - define and communicate clear project KPIs and refer back to them repeatedly * Communicate effectively - foster transparency, and effective asynchronous communication. Send pre-reads and meeting agendas to have more effective meetings. Send clear and concise status updates. * Build relationships - actively involve stakeholders in decision making, get to know each colleague through regular 1:1s, and build a culture of trust and collaboration.