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

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

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

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.