When trying to influence external partners, start with those most eager to collaborate. This 'coalition of the willing' builds momentum, helps set standards, and creates social pressure for larger, slower-moving players to join the initiative.
Stop trying to convince executives to adopt your priorities. Instead, identify their existing strategic initiatives—often with internal code names—and frame your solution as an accelerator for what they're already sold on doing. This dramatically reduces friction and speeds up deals.
To overcome the cold start problem in a network effects business, especially in a conservative industry like finance, a powerful strategy is to create a coalition or consortium model. By giving early adopters ownership and governance rights, you align incentives, build trust, and transform would-be competitors into enthusiastic evangelists for the new network.
To effectively influence partners, you must understand their priorities. A scrappy research method is to watch their executives' public interviews or internal all-hands meetings. This reveals their strategic goals and allows you to frame your proposal in their language, increasing its resonance.
When introducing a disruptive model, potential partners are hesitant to be the first adopter due to perceived risk. The strategy is to start with small, persistent efforts, normalizing the behavior until the advantages become undeniable. Innovation requires a patient strategy to overcome initial industry inertia.
Don't pitch big ideas by going straight to the CEO for a mandate; this alienates the teams who must execute. Instead, introduce ideas casually to find a small group of collaborative "yes, and" thinkers. Build momentum with this core coalition before presenting the developed concept more broadly.
Building influence requires a strategic approach. Actively survey your professional relationships, identify where you lack connections with stakeholders, and methodically invest time in building alliances with leaders who can advocate for your ideas when you're not in the room.
Instead of approaching leaders first, engage end-users to gather 'ammunition' about their daily pains. They may not have buying power, but their firsthand accounts create a powerful internal case (groundswell) that you can then present to management, making the approach much warmer and more relevant.
When meeting an influential person with opposing views, effectiveness trumps the need to be 'right.' The best strategy is to suppress personal indignation and identify a shared interest. Propose a policy or idea within that common ground that they might be receptive to and champion as their own.
When goals depend on external partners, it's hard to pace your outreach. Instead of guessing, treat it like an experiment. Set a weekly conversation goal as a hypothesis (e.g., two meetings/week) and measure the yield (e.g., one "yes" to collaborate). This data-informed approach helps quantify the actual effort needed to reach larger strategic goals.
Instead of developing a strategy alone and presenting it as a finished product (the 'cave' method), foster co-creation in a disarming, collaborative environment (the 'campfire'). This makes the resulting document a mechanism for alignment, ensuring stakeholders feel ownership and are motivated to implement the plan.