Micro-Interview: Aleksandar Yabalkarov | Head of Product | Clovr Labs | Tips on Influencing Stakeholders
💬"It's OK to say No."
Aleksandar Yabalkarov is the Head of Product at Clovr Labs, which builds custom solutions in information security, infrastructure, crypto analytics, and payments.
In under 500 words, he shares:
How he determines the most important stakeholders to work with…
His toughest stakeholders challenge…
Some of his sources of learning…
And more…
Enjoy!
“How did you get into product management?”
After spending about six years in various roles within customer service at Skrill, I developed a deep understanding of our end users' pain points and the areas where our products could be improved. This experience provided me with valuable insights into customer needs and product shortcomings.
Eventually, I had the opportunity to transition internally to the IT department as a Business Analyst. In this new role, I focused on enhancing the same products that customers frequently called about, leveraging my customer service experience to drive meaningful improvements.
“How do you determine the most important stakeholders for you?”
Determining the most important stakeholders often comes naturally with experience and time spent within the company. You gradually learn who the key stakeholders for your projects are.
If you're new or unsure, a useful approach is to map stakeholders using an influence-interest matrix. This tool helps identify those with the most influence over and interest in your projects, allowing you to prioritize their needs and input effectively.
“What do you know about influencing stakeholders now that you wish you’d known when you first started?”
One crucial lesson I've learned about influencing stakeholders is that it's okay to say "no." Often, stakeholders and clients believe they know what they need, but they might not fully understand the underlying problem. They may come to you with a proposed solution rather than describing the actual issue. I've learned to challenge their assumptions and ask guiding questions to uncover the root problem they need to solve. This approach ensures that we address the real needs and develop more effective solutions.
What did your toughest stakeholder challenge teach you?
Organizing a company-wide project involving about 15 high-level stakeholders over the course of a year and a half taught me valuable lessons about project and time management. I learned that keeping everyone informed and aligned was crucial to the project's success.
Effective communication, regular updates, and ensuring that all stakeholders were on the same page were essential in navigating the complexities and challenges of such a large-scale initiative.
What’s the #1 method that has helped you align all stakeholders in your favor?
The key method that has helped me align all stakeholders in my favor is building and maintaining trust. Trust is not gained overnight, but it allows for open communication and mutual support once established.
I prioritize honesty and transparency to build this trust, especially when delivering bad news. This approach ensures that stakeholders feel respected and valued, making them more willing to collaborate and support various initiatives.
How do you stay updated on the best practices in influencing stakeholders?
I consistently follow reputable sources within the product management community—"Mind the Product", the "Product Mastery" podcast, "Lenny’s Podcast", and "No BS, Just Product” These resources provide valuable insights and inform me about the latest trends, strategies, and methodologies in the field.