Your product vision clashes with stakeholder feedback. How do you navigate this delicate balance?

In my experience this clash is caused only when there is no alignment or very little shared understanding of the market and stakeholder needs. And the best way to address this is to have regular communication and discussions to exchange the thoughts and ideas. Once the thought process is in alignment, there needs to be consensus in finalizing what is it that we wish to achieve from the product in long-term and short term. Finally the agreed upon plan needs to be set in action with periodic progress reviews.

Every product vision in the beginning would invite some expected clashed between stakeholders and Product team especially in big financial organizations. Key reasons. 1) Human beings are naturally averse to change especially when things are already working with older or legacy product. 2) Comparisons with existing products 3) Fear of failure To navigate through 1) Identify the key stakehoders, influencers and decision makers 2) Maintain complete transparency all through product development cycle 3) Remain open for feedback wholeheartedly 4) Define aggressive but well thought off target dates 5) Importantly show full ownership even in case any failures.

In addition to specific stakeholder needs, understanding and aligning beforehand on the larger objectives of the organization (and how each department contributes to it) is key here. Without strategic alignment, this conversation will likely happen on repeat ad infinitum until a cohesive strategy is established. Establishing this is necessarily a collaborative process that incorporates stakeholder needs up front, and can be referenced and, if necessary and supported by evidence, adjusted when there are misalignments down the line.

Bridging the gap using data-driven discussions is a way to find common ground among stakeholders. Identify areas where vision and feedback overlap, and make calculated adjustments to satisfy both the original vision and stakeholder needs.

Consensus is a loaded word here, and I think unnecessary. More important is to ensure that stakeholders feel heard and considered, and that the reasons, evidence, and data leading to the final decision are clearly articulated. Bonus points for anchoring in user needs and testing, where necessary. An impasse can often be overcome by a willingness to hear, define, and test the assumptions on the table.

Can you share a success story where sticking to the product vision led to positive outcomes? I recall developing a platform with lofty goals where stakeholders weren't enthused by all we were doing. By sharing how each new milestone built upon the previous one, we illustrated a vision that had value-producing outcomes and incorporated potential pivots along the way. Sometimes a dynamic process with increased communication, empathy, and a willingness to adapt will create the alignment needed for long-term success.