The Product Leader’s Cheat Sheet for Alignment: The CEO and Board Edition

What’s the biggest challenge product leaders face? Setting expectations with cross-functional stakeholders. According to the most recent Product Excellence Report, 48% of product leaders named this their top challenge. 

But not all stakeholders have the same interests and priorities. This means you can’t simply come up with a single stakeholder management strategy and call it a day. (Well, you could, but we don’t recommend that approach if you’re looking to see some real results.) Instead, you need to develop a deep understanding of each group and how you can best meet their needs.

We get it — for most product leaders, learning how to navigate these complex relationships is another item on a never-ending to-do list. But neglecting your stakeholders today can lead to much more trouble down the road.

That’s why we’ve put together a series of cheat sheets to help you achieve alignment with each group of stakeholders. In this first edition, we’ll explore how you can best work with your CEO and board of directors. We figured it made sense to start at the top. After all, these are the people who will determine the amount of funding and resources to allocate to your projects. Their buy-in will fuel your momentum and stoke your chances of success.

5 tips for partnering with your CEO and board of directors

To gain the trust of your CEO and secure necessary resources or investments for your strategy, you should effectively convey your product vision, strategy, and roadmap in a way that aligns with your company’s overarching goals. 

It is essential to prioritize timely execution of the roadmap and fulfill commitments, as any delays can negatively affect business performance and disrupt projected outcomes. 

Here are a few tactics to try:

1. Present the business case for product investments and prioritize resources to achieve the most impact.

“My biggest challenge is seeking alignment across the company as we don’t have specific goals from executives for products. Trying to build this from the bottom up is challenging.” – 2022 Product Excellence survey respondent

2. Be transparent about the progress and performance of products, providing regular updates and metrics to demonstrate the value of initiatives. Speak the language of the business and articulate the ROI and impact of products in a clear and concise manner. Learn more about how to create a clear product strategy that will resonate with your executives here.

3. Actively seek feedback and input from the CEO and board of directors, incorporating their perspectives and insights into the product strategy and roadmap. This helps to build trust and credibility with key stakeholders and ensures that the product is aligned with the company’s overall vision and direction.

“The CEO and CPO need an open, honest, and frequent rapport for a product to stand the best chance of success. This candor must be present from the start; there should be no withholding or reluctance to share information. You must both be able to voice your opinions in the knowledge that there is mutual respect, safety, and trust. Like any relationship, this one requires constant nurturing.” – Ken Norton, Executive Product Coach

4. Proactively manage risk and be prepared to pivot the product strategy and roadmap if market or competitive conditions change. This requires a willingness to take calculated risks and make bold decisions when necessary, while still maintaining a focus on delivering value to customers and achieving business outcomes.

“Managing up is about building a relationship with your manager where the two of you are partners in problem solving.” – Betty Liao, Senior Director of Product Management at InVision

5. Use roadmaps to guide strategy discussions

Roadmaps can be an effective tool for guiding discussions with your CEO. You can regularly share high-level strategic roadmaps to discuss trade offs with your CEO, and make modifications for a roadmap that you then share with your board. Read more about connecting your roadmap to company strategy here.

“One of the biggest challenges I face is coaching CEOs, founders, and functional leads on the difference between output roadmaps/feature checklists and outcome-based roadmaps.” – 2022 Product Excellence survey respondent

Keep in mind that product teams aren’t the only ones that benefit from this partnership. When a CEO and board of directors work closely with a product team, this ensures the product strategy delivers on the corporate strategy and you’re meeting customer needs with mission-critical products, capitalizing on market trends, and driving innovation. 

Never fear your next encounter with a stakeholder again. Download the cheat sheet to help you handle every interaction with your CEO and board of directors with confidence, or our guide on uniting the business for tips on how to work with other stakeholders. You can also check out the below video for tips on how product can build stronger cross-departmental relationships.