What is at stake?
Why is it important?
Stakeholders are all individuals or groups that can influence or be influenced by the startup project (employees, investors, regulators, suppliers, community, public institutions, etc.). They play a role in the impact of the project.
➡️ Knowing the stakeholders well and understanding how to engage them means allows for gaining their support and running the project more effectively (with increased collaboration and transparency).
➡️ Stakeholders can be a resource and support for a startup, especially during more challenging phases of the project, hence the importance of identifying and considering them from the beginning of your project.
Three actions to implement right now
1️⃣ Map the different stakeholders
Who will be affected by the project? What are the risks to stakeholders?
You can start with an existing template such as this one (template offered by Miro).
2️⃣ Determine their level of influence and interest in the project, and understand their needs
- Create a power/interest matrix to better visualize the involvement of different stakeholders.
- Qualify the expectations and requirements of stakeholders.
You can start with an existing template such as this one (template offered by Miro).
3️⃣ Based on the mapping established in the previous step, define relevant approaches according to the type of stakeholder:
- For the most influential and strategic stakeholders: adopting a collaborative co-construction approach to your solution and vision will foster trust and encourage engagement. This cooperation will facilitate the provision of resources from the stakeholders and enhance the startup's impact by making them real ambassadors.
- With less influential and strategic stakeholders, adopt a regular transparent communication approach will engage these stakeholders in the startup's journey and mission, and anticipate concerns or doubts.
📚 Further Reading
📝 Stakeholder Mapping Template (Miro)
📝 Stakeholder Analysis Template (Miro)
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