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Mind the Product

Product Management

Three world-class product speakers to look forward to at INDUSTRY

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Stakeholder Management

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Louron serves as the Editor at Mind the Product, bringing nearly a decade of experience in editorial positions across business and technology publications. For any editorial inquiries, you can connect with him on LinkedIn or Twitter.

Louron Pratt

<p>Product managers are meant to be many things – visionaries, decision-makers, leaders and much more. But what about negotiators? In this <a href="https://www.mindtheproduct.com/tag/sunday-rewind/" target="_blank" rel="noopener">Sunday Rewind</a>, Edward Scorcher, Chief Operating Officer of Agility in Mind delves into his favourite tips for negotiating with your stakeholders.</p>
<h2>Know your position and stakeholders</h2>
<p>Before anything, Edward explains to secure your home base first. Ultimately, you’re always in a weaker position if you’ve not prepared the ground for what to achieve. To ensure that you are best situated, it’s important to <span style="text-decoration: underline;"><a href="https://www.mindtheproduct.com/easy-ways-to-engage-your-stakeholders/">know who your stakeholders</a></span> are as one of the initial steps.</p>
<h2>Set your vision and align accordingly</h2>
<p>Another key step is to start with the end in mind when negotiating. Think like a storyteller and construct characters that portray your story. If you don’t know where you’re going, you’re not going to get there. At a minimum, a good vision needs to identify three things: the problem you are trying to solve, who you are trying to solve it for and what outcomes you want to meet (evidenced by a solid, meaningful KPI). Don’t turn up to talk to a stakeholder without this.</p>
<h2>Ask open questions and be outcome focused</h2>
<p>Edward says to take control of the situation by getting the other party to do the talking. Start first, and start quickly. Once you have control you’re able to focus your meetings on outcomes and keep things on track.</p>
<h2>Learn to say no</h2>
<p>Edward explains how we’re conditioned as children to learn to please. “We’re not kids anymore and product management is not child’s play,” he says. <span style="text-decoration: underline;"><a href="https://www.mindtheproduct.com/a-product-managers-guide-to-saying-no/">Saying no</a></span> is the simplest form of setting an expectation, and sometimes, it’s best just to deny a request. Your reward will come when you get a great product out to market.</p>
<hr />
<p><span style="font-weight: bold;">To discover Edward’s tips in further detail, ready </span><span style="text-decoration: underline; font-weight: bold;"><a href="https://www.mindtheproduct.com/top-tips-negotiating-stakeholders/">Top tips for negotiating with stakeholders</a></span><span style="font-weight: bold;"> in full! </span></p>


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SUNDAY REWIND: Top tips for negotiating with stakeholders

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SUNDAY REWIND: Top tips for negotiating with stakeholders

Louron Pratt

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