Micro-Interview: Rosen Tsvetanov | Product Owner | REWE Digital | Tips on Influencing Stakeholders
💬 "Acknowledging mistakes and explaining the steps taken to rectify them can strengthen relationships. Honesty is critical."
Rosen Tsvetanov is a Product Owner at REWE Digital, the technology and innovation subsidiary of the REWE Group. The company focuses on developing digital solutions and services to enhance both online and offline retail experiences.
In under 500 words, he shares:
How he determines the most critical stakeholders to work with…
His most formidable stakeholder challenge…
Some of his sources of learning…
And more…
Enjoy!
“How did you get into product management?”
I transitioned from Lean & Sigma and Process Management into Product Management. My first role was in a bank, where I was assigned as the Product Owner for a new Robotics Automation initiative with a newly established development team. This opportunity came about in 2018.
“How do you determine the most important stakeholders for you?”
It’s a continuous process. First, I identify all possible stakeholders for the product. Then, I assess them based on two dimensions: Influence and Interest. I continuously analyze and evaluate their needs and expectations about the strategic goals. Stakeholders whose interests align closely with these goals are considered the most important.
“What do you know about influencing stakeholders now that you wish you’d known when you first started?”
There is no single formula for success in stakeholder management. I believe in engaging with stakeholders early and regularly. When possible, I try to involve the stakeholders early and regularly ask for their feedback. Effective communication is crucial in influencing stakeholders. I always try to use data and evidence to support my arguments in front of the stakeholders.
What did your toughest stakeholder challenge teach you?
It taught me to invest more time in communication with stakeholders. Transparency is key—I openly share necessary information, including challenges and risks.
Acknowledging mistakes and explaining the steps taken to rectify them can strengthen relationships. Honesty is critical, in my opinion.
What’s the #1 method that has helped you align all stakeholders in your favor?
I advise making it easy for stakeholders to approach you with concerns or ideas. An open-door policy encourages collaboration and reduces resistance, helping to align stakeholders in your favor.
How do you stay updated on the best practices in influencing stakeholders?
I keep myself informed about the latest product management developments through podcasts, such as "Product Thinking" by Melissa Perri. I’m also a big fan of Teresa Torres, author of Continuous Discovery Habits, and often read the success stories shared on her blog.