From the course: Influence Skills for Leaders and Managers

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Building relationships with stakeholders

Building relationships with stakeholders

From the course: Influence Skills for Leaders and Managers

Building relationships with stakeholders

- Relationships are currency. Your network is your net worth. You've probably heard these phrases before, right? They speak to the importance of social capital, that is the value of your connections and the power of those bonds to help you get more done more efficiently. You likely have a number of stakeholders who you need to build social capital with, those could be internal stakeholders, like the C-suite, your peers, or company shareholders. They could also be external stakeholders, customers, suppliers, or regulatory bodies. While I'm sure you'd love to devote substantial time to each of these relationships, the reality is, you need to prioritize. So break down your stakeholders into four categories. First, there's low-influence, low-interest people. You want to make data available to them, and check in periodically to monitor the relationship, and make sure no conflicts arise. Next, there's low-influence…

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