Securing Buy-In: How to Convince Your Stakeholders to Support New Ventures

Let's talk about how you can secure the green light for your next big idea!

Ideas are only as good as the buy-in they get. This is, of course, true for all types of ideas. But it is especially relevant in the complex world of corporate innovation, with so many different stakeholders, budgets, and potentially even previous experiences in related areas. Without stakeholder support, even the most promising ventures struggle to make it out of the business model canvas.

The key challenge is convincing key stakeholders that it is worth putting resources into your idea, and that there is a need to change the status quo. You need to explain why your bold vision is worth exploring further, despite all the associated risks.

1. Build a Business Case They Can’t Ignore

Numbers matter. To win over stakeholders, show them the tangible value your venture will create. Develop a concise and compelling business case that answers the critical questions:

• What’s the opportunity? Articulate the market gap or problem size your venture addresses.
• What’s the upside? Show projections for ROI, growth, or strategic impact.
• What’s the risk? Be honest. Highlight how you plan to mitigate it.

Keep it simple, direct, and tailored to your audience. Skip the fluff—busy executives appreciate clarity. Be sure to highlight the potential on one hand and that you are mindful of the costs associated with this potential.

2. Align with the Bigger Picture

Your venture needs to fit within the broader corporate strategy. How does it align with the company’s mission, vision, or strategic growth objectives?

In Silicon Valley, the saying goes: "Figure out what keeps the CEO up at night." When you have those questions figured out and understand how your venture idea fits in there, you’ve already come a long way.

At the same time, the venture needs to align with your venture unit's goals—you could have the best hardware business idea with significant TAM and revenue potential. If your unit's target is to build digital solutions, you won't secure buy-in.

When you talk to your stakeholders, be adaptable. Use storylines and metrics that resonate with their priorities, whether that’s customer acquisition, market expansion, or sustainability KPIs. By showing how your project enhances the company’s overall goals, you make it hard to say no.

3. Frame the Narrative Around Benefits, Not Features (nor Experiments)

The typical startup pitch advice obviously also applies to corporate ventures: don’t get lost in technical details. This also holds true when we talk about experiments and validation processes: your executive stakeholders will not be interested in the precise methodology you’ve applied. Instead, focus on outcomes.

Focus on traction, even if it's not tangible in terms of revenue yet. Show the prototype you’ve built, rather than talking about the number of frames you’ve created. Quote the potential customers rather than just saying how many interviews you’ve held.

4. Engage Stakeholders from Day One

Lastly, and most importantly: securing buy-in isn’t a one-time event—it’s a process. Involve key stakeholders early and adjust the frequency based on their needs and asks. Listen to their concerns, adapt your approach, and make them feel like collaborators. When people see their input reflected in your plans, they’re far more likely to champion the idea.

5. The Key to Clarity

At its core, securing stakeholder support comes down to one thing: clarity. A clear goal, a clear value proposition, and a clear plan. When stakeholders can easily grasp what you’re proposing and why it matters, you’re halfway there. Put yourself in the shoes of your counterparts: you probably spend most of your time working on this venture, but for the stakeholder, it is one of many things on their plate. Focus on what matters to them, not to you.

These are our top 5 tips when it comes to securing buy-in. What are your experiences with stakeholder meetings? Comment below or let's talk in person.

Check out our approach to Venture Building at TheVentury here: https://theventury.com/venture-building/