Customers are a Product's most essential Stakeholders, but they aren't the only ones. Other external Stakeholders influence buying decisions or are affected by your Product's activities. Likely, you are one of many internal Stakeholders. Business and Domain experts with skin in the game trying to figure out how to win a significant market share of buying Customers. Your job is to harness this team's potential. 

It's been said, "Rallying Stakeholders is Product Management" it's also been said that Product Managers should ambition to facilitate partners rather than stakeholders to 'co-design' the change. Practically though, which ceremonies and tools foster collaboration with Stakeholders and align a Product strategy? 

Identifying your Stakeholders

• Stakeholder mapping (internal & external)
• Customer Interviews
• Customer Journey mapping

Stakeholder Collaboration

• Biz: Quarterly business reviews (QBRs)
• Product: Quarterly initiative reviews
• Ops: Fortnightly / monthly release reviews

"Two 30-year-old men and two 30-year-old women are sitting around a conference table discussing a plan they've made to use AI to generate product outcomes that will each make them all insanely rich. They are all laughing. The dress code is casual." - stable-diffusion-xl-beta-v2-2-2

Stakeholder mapping: internal & external

Nothing gets done if everyone gets a view on every decision. There's no guarantee that your team will even agree on your stakeholders. When discussing Stakeholder management, visual maps of those influencing/interested in your Product's outcomes usually jump to everyone's mind. Traditionally, these represent relationships with internal teams and broader partnering organisations. But a separate map is also valuable for external Stakeholders. Your external Stakeholders are all those affected by your Product's usage context. You may only have one customer, but there are likely many 'hidden' stakeholders within that customer's journey of using and purchasing the Product. Some journeys may exist far before your Software, such as purchasing and onboarding journeys; your customers may need finance sign-off or might even have been given the Product from on high by a senior manager. These are hidden Stakeholders.  

Sticky notes are the quick solution but ongoing, you can get your spreadsheet game on: Stakeholder Map in Excel with David McLachlan

Customer interviews

There's no more critical stakeholder than your customer. How are you even going to discover your hidden external stakeholders? Customer Interviews are the most important part of Product Management. You should be speaking with your customers every week; when you talk to them, you can ask them to share who it is that influences their journey and who is it their outcomes affect. Hidden stakeholders are often Bosses and co-workers but also friends and family. In your interviews, dig into where your customers were when they were last conducting the job of your product. Physical locations often reveal relationships; it takes a whole family to sit around a dining table.   

The very best reference for Customer interviews: Lean Customer Development by Cindy Alvarez

Customer Journey mapping

Hidden stakeholders lie in wait across the Customer journey, a partner at breakfast time, a friend in the evening, and a colleague at lunchtime. When a Customer has a job to be done, their journey to complete that task likely starts long before your Product. A map of all the touchpoints your Customer requires to complete that task will provide a clearer view of the habits and activities with which your Product is competing. Journey maps can focus on the part of or the complete task. Customer journey maps evolve with your understanding of the average target customer, and they’ll be continually refined during customer and stakeholder interviews. 

Some examples:

• Actionable Customer Journey Maps with Debbie Levitt
• Assumption or Research first mapping with Kate Kaplan
• I use Miro, here is their guide

"Blackbeard the pirate and two 30-year-old businessmen gathered around a whiteboard, discussing a customer journey map to set sail and and find buried treasure. They are all laughing. The dress code is casual." - DeepAI

Business alignment: Quarterly business reviews (QBRs)

Business leaders have a responsibility to ensure Products are progressing towards their strategic intents and financial outcomes. They will be wildly enthusiastic to see an update of (at least your best guess) quarterly product revenue, churn and costs. It’s great to share these conclusions but only through the context of outcomes. You set the scope, remind your business stakeholders of their desired results and inquire if anything has changed since previously agreeing to these outcomes. 

Now is the time to clarify the business sense of all Product initiatives in play. Then, you can share a full rundown of your successful and unsuccessful experimentation. This meeting is vital to your highest levels of trust; you need to share enough of your journey to help your business Stakeholders feel invested in your conclusions. 

Some snappy QBR advice: Quarterly Business Review Best Practices - TK Kader

Product alignment: Quarterly initiative reviews

Product initiatives have to meet the goals and objectives of the broader Company strategy. All those tasked with hitting these strategic outcomes need to align on how they are placing their bets. In attendance could be the CPO, VPs of product, and product managers, but it also can include leadership from other disciplines, CTO, design leaders, etc.

There must be enough product initiatives to hedge bets and meet your goals. Product managers can share the results of preliminary experimentation, research, or first releases related to overall goals. Product teams can also request more funding to build or optimise an existing solution. Or propose new initiatives for feedback and buy-in.

Initiatives reviews are going to be different for everyone, but here is Atlassian’s take: Atlassian's Quarterly Company Planning Process with Peter Scobie

Operational alignment: fortnightly / monthly release reviews

Release reviews ( most often Sprint reviews) provide the opportunity for teams to show off the hard work they have done and to talk about success metrics. These are the most commonly conducted meetups, but what I want to emphasise here is talking about success metrics. Before release, Product Managers should share how each feature's success will align everyone honestly around the most important outcome. I've always advocated getting as many internal and external stakeholders in the audience as possible. Teams want to show off their hard work, and everyone loves seeing new stuff before it enters the world! This isn't a time for experiments only for what shipping is and how you measure its effect. 

A meetup event in london where everyone is gathered around a small table deep in discussion about something very interesting. - Dalle

Community Meetings! 

Finally, there's your local Product Management community; you are a Stakeholder in the ongoing betterment of Product Management processes. There are loads of Product Managers, VPs and CPOs who want to improve their processes and can only do so by sharing the best and worst of their experiences. 

Please join us at the next #ProductJunto to share your real-world experiences with us. This topic was the conversation of the March 30th 2023 meetup discussing stakeholders.

#ProductJunto

Frank Robinson, who originally coined the phrase, emphasised the MVP only within the context of the journey of his packaged process (SyncDev); it was an outcome of the entire process, which engaged with customers and users from the beginning. His was a process of continually 'Test Selling Validation Prototypes' all the way to the outcome of his entire engagement.

"Due to the misconception of this term, I have stopped using MVP altogether. Instead, I talk more about solution experimentation. These experiments are designed to help companies learn faster. Here we are experimenting to learn, not building to earn." - Escaping the Build Trap

Constant experimentation en route to the MVP will result in more useful software because shipping code will always incur a cost you are going to be lumbered paying for, it may as well be worth paying for, which you will not know unless you've been ideating and measuring all the way to the destination. I'm not advocating stopping using the term MVP as it's useful for cross-functionally sharing the agile mindset. In recent years I've preferred the term Minimum Viable Prototype, which I think I got from Accelerate. However, perhaps even then, it's still too milestone related and removed from a discovery process to be helpful. I think now, I will throw my hat into Minimum Viable Progress because it speaks more to a process than crowning achievement. In the context of progress, MVP becomes a suitable classifier for bounds-checking our next deliveries.

Join me to discuss the concept of MVP at the Product Junto on Thursday 16th March, 2023 at 6:30 PM It's a free event, we'll be meeting at the Barbican centre in London. I look forward to discussing.

Today, with a heavy heart, I announce the closure of Storyboard. We will cease operations and turn off all Storymaker software on Feb 1st, 2023. If you are a Custorian or Storyboard customer, please continue to read more about the next steps and how we aim to make this transition as smooth as possible.

The backstory

I originally started Storyboard as 'Custorian guide' to reveal the compelling stories hidden within Art exhibitions when thanks to 2020's COVID lockdown, virtual attendance became a sudden priority. Initially, our exhibitions were photogrammetry of physical exhibitions, but our analytics quickly suggested the real opportunity was in the overlaid short-tappable stories. 3D scans of exhibitions looked great, but the attendees hardly stuck around for more than a few seconds. But if just one tappable story were clicked, dwell time quickly lept from 12secs to 2 minutes on average! It was an aha moment, and we pivoted to focus more on the creation of Stories for virtual environments. I sourced and led a team to ideate, develop and deliver a Web3 system to display decentralised versions of TikTok-style stories (30-60sec video) across various virtual reality environments. It's been super exciting to pioneer a new technique of raising dwell time in virtual exhibitions. Our platform used web technologies, display kiosks, and AR to demonstrate that tappable video stories increase visitor engagement in the real world and then again in VR across many unity-based virtual worlds, including Decentraland, Somnium Space. 

Why are you shutting down Storyboard?

Raising engagement in virtual exhibitions is challenging, but increasing attendance has remained a more pressing need. Storyboard can reliably increase visitor engagement, but we depend on a marketable audience. Regardless of quality, in 2022 we could not guarantee a significant virtual audience would attend any virtual exhibition. We worked with small agile brands to quickly create engaging exhibitions, but their lack of overall attendance made ongoing virtual exhibitions unjustifiable, so retention of small customers remained challenging.

Only brands big enough to invest in exhibitions for PR and skills investment alone could afford our virtual exhibitions, but such shows often took six months to source, close and create. Our pricing didn't warrant our overheads, and the available customers didn't justify the investment to standardise the process through software. 

Startups need to exist far enough ahead of the demand to offer an untapped opportunity but not 'too' far outside observable market conditions to strain the confidence of even early investors. 

Additionally, despite attracting 400+ Stories, 50k+ views and £13k from paying customers, we struggled to convince investors of the opportunity beyond what they believed could be quickly cannibalised by existing social networks. Although initial feedback from Creators was favourable, investors feared the additional process overhead wasn't justifiable at scale as evidence suggests we'd be unavoidably black-listed.

There are roads ahead; however, we have no further runway after four pivots. Of course, I could blame the disastrous market conditions and unfavourable capital-raising environment, but ultimately I didn't achieve a clear Product/Market fit within the required timeframe. 

I'm a paid customer; what happens next?

Storyboard will honour all contracted agreements; we'll do our best to please contact kevin@storyboard.guide

What will happen to the Storyboard Platform?

We have developed the following audited software written in JS/Node: 

• Storyboard's 'Storymaker': 
• Converts videos & images into AMP Story format 
• Deploys Stories to Google Cloud and Filecoin via IPFS
• CMS for associating Stories with exhibitions 
• Narrus: Backup & deploy annotated Matterport 3D captures as CSV
• Custorian: X-Platform Tappable 'Story' Player

If anyone wishes to make an offer for our assets, we'd be happy to hear from you. Please contact kevin@storyboard.guide

Parting Thanks

Revealing the world's hidden stories remains a noble aim. I thank everyone who joined our team on this adventure and gave us a glimpse of our Web3 / XR future. Everything we ambitioned will evolve in due course, and I wish future entrepreneurs the best of luck in tackling the problem of in-venue virtual engagement. 

The 'World Wide Web' once held a sense of wonder. In a small Scottish town, on my bi-weekly trips to my local public library, I'd type out the addresses of webpages I'd scribbled on scraps of paper gleaned from TV and comic advertisements. It felt like prospecting; every web page was a clue within a worldwide scavenger hunt.  The same excitement to explore and contribute is not what it once was. New generations are unlikely to surf an 'internet super highway' of static text and interlaced pictures. Perhaps that same enthusiasm is once again on the horizon for 'Adventures in the Metaverse'. 

When hot topic cultural terms such as 'The Metaverse' invade industry spaces, professional derision can sometimes leave it feeling like only a domain only for the naive. Professionals often strike down hyperbole to show their understanding of technical nuance. Yet, veterans need to accept responsibility in plotting a vision for generations to come. Accessibility to digital information is still deserving of reverence.

Metaverse and Web3 are the "successor states" to the internet as we know it today. Everyone with strategy & budget responsibilities with a view 5 years or more requires an informed opinion. 'The Metaverse' by Matthew Ball challenged many of my preconceptions. As a result, I've come away with a newfound respect for the term 'Metaverse' and the architects stepping up to its early challenges of incorporation.

"Web3 does not require 3D, real-time rendered, or synchronous experiences, while the Metaverse does not require decentralisation, distributed databases, or blockchains .. (Web3) is about societal formation and governance + (Metaverse) is about technology and its proliferation." - Matthew Ball, VC/author of 'The Metaverse'

Spotify Co-founder Daniel Ek posited that the web, until now, has been translating physical into virtual; what we'd once buy as a hardware device like an alarm clock is now an app. Now in the Metaverse, we're tasked with producing 3D alarm clocks. Those with the most experience - are game developers. I didn't quite realise how the gaming industry and notably Fortnight & Roblox were not just informing the creative design principles and building the underlying technologies of the "next-generation internet" but also serving as the Metaverse's economic precedent.

Whatever it is, your concern is required.

A Metaverse is coming, its infrastructure, politics, communities and dependent markets will take at least 5-10 years to build. You can roll your eyes from the bylines or get into the trenches and help build towards your ideals.

"it promises to exist as a parallel plane for human leisure, labour, and existence. Therefore, the philosophies, culture, and priorities of the companies that lead in the Metaverse era will help determine whether the future is better or worse than our current moment, rather than just more virtual or remunerative. ..An ever-growing share of our lives, labour, leisure, wealth, happiness, and relationships will be spent inside virtual worlds, rather than just extended or aided through digital devices and software. It will be a parallel plane of existence" - Matthew Ball, VC/author of 'The Metaverse'

"the economy in the Metaverse . . [will] be larger than .. the physical world" - Jensen Huang, CEO/Co-Founder of Nvidia  

"If one central company gains control .., they will become more powerful than any government and be a God on Earth" - Tim Sweeney, Co-Founder of Epic

Embrace the Metaverse vision

=======

Guide others through the Metaverse and get paid with Storyboard.
Join our waiting list: www.storyboard.guide

There was a time when all American art was also sidelined, and it took a great diplomat who, while everyone else was about competition, he was about alliances. Our immigrant instructor was steeped in art history and managed to weave those past stories together with future fortunes. He was 'a tie salesman', a pioneer of the mega gallery, a former secret agent, the ultimate mythmaker, the Godfather of America's contemporary art world, and the quintessential late bloomer: Leo Castelli.

"New work never threatens the past, only the present that is yesterday." - Robert Rauschenberg.

Trad art.

One hundred years ago, Europe/Paris alone was synonymous with serious, professional art. Europe had centuries of masters and movements from Romanticism to Surrealism. The Robber barons of the industrial revolution imported their reputation in the form of old master paintings. 

This isn't to say that there was no artistic talent in America; on the contrary, world war 1&2 had sucked up the lion's share of creative talent and work into America, especially NYC. 

Post-war, while everyone else was recovering, the US was a boiling pot of creation. Artists such as Jackson Pollock, Mark Rothko and Willem de Kooning expressed that energy as an exciting new form of art in abstract expressionism. 

But outside America, abstract expressionism was regarded as an American fad. People were losing their minds in accepting that grown adults could produce canvases that looked like the mindless strokes of children. Some felt attacked and insulted in contemporary comparison to the decades-long journey of masters perfecting a figurative or abstract skill. Further movements weren't possible by Americans, and it was a dead-end, a bubble that would pop and then we'd get back to the evolving tradition of European artistic mastery. 

When something looks 'so' different and seemingly comes out of a void, it is seen as an oddity. But, capitalising on the momentum of abstract expressionism, it took business visionaries such as Leo Castelli to build an ongoing new market for artistic talent and collectors. 

Audiences outside the US didn't want to be left behind. They believed in an evolving art tradition within Leo's artists. His gallery and artists contextualised an idea of the world's displacing European talent through World wars. But the Bauhaus lived on through Josef Albers teachings at Black mountain college and now through Robert Rauchenberg's shocking new work from a new world. 

An overnight success, 50 years in the making

Remarkably, Leo Castelli (1907–1999) started his career late in life; his gallery opened when he was nearly 50. But, in truth, Leo had long had an active interest in art long before he started his NYC gallery. 

During the first quarter of his life, Leo's second name was Krausz. Under the compulsion of Mussolini's government, which required the Italianization of family names, his father adopted his wife's maiden name. Although being born and married into sufficient means, the political turmoil of World war 1&2 jostled a young Leo Castelli around Europe before he was forced to emigrate to NYC. Not many gallerists can ever claim time in the American secret service, but that's precisely how he secured his citizenship in exchange for his service during WW2, owing mainly to his affable nature and speaking five languages.

After meeting his wife in his late 20s, Castelli repeatedly tried to represent artists as both a side hustle and intermittent full-time gig. In his first gallery in Paris, he first tried out his innovative stipend model called 'artist fund', where the artists all pitched in to support one another through challenging periods. Unfortunately, his gallery in Paris never really got off the ground due to the bad timing of the encroaching war. After the war, he tried to represent the gallery as an American counterpart, but it was a crowded secondary art market. 

After his military service, Leo lived a life blessed by his father in law, who blessed him with a house in NYC and a job for ten years as a manager in his clothing factory! During this time, he became infatuated with the art museums of NYC and surrounded himself with the country's most notable artists. The majority of artists for which he would gain initial acclaim before opening his gallery he met before opening his gallery as he made it a habit to frequent artist studios. Castelli met Jasper Johns when he was visiting Robert Rauchenberg's studio and popped into the communal fridge in John's studio for ice. He offered Johns a gallery show on the spot and prioritised it over Rauchenberg's! When Castelli gallery eventually did host Rauchenberg's exhibition, it only made one sale, and that was to Leo Castelli. We all catch a break at different points in life, make sure and do all you can to put yourself in a place where when opportunity comes knocking, you want to go where it can take you.

Lessons from Leo for Gallerists

Skin in the game

"Leo came to me and offered to give me a regular monthly stipend, guaranteed for three years, and told me that he would not expect to sell anything during that time. I never expected to find anyone willing to support experimental work. I could not believe it. It was like getting a Rockefeller grant. Leo has always been generous, supportive, intimate, and friendly, a throwback to another century." - Robert Rauchenberg.

Castelli gallery distributed regular monthly stipends over three, four, even five years that freed artists up from non-creative concerns - "as French publishers used to do for their authors," he gamely pointed out. Leo considered himself a patron of the arts and acted similarly to great patrons of the past, such as the Medicis. This, of course, made artist desertions extremely rare.

Leo expected no less conviction from his business partnerships. Even his gallery customers occasionally evolved into partnerships as he built on their appetite. For example, Joe Helman's relationship evolved from the collector into a dealer and then a patron through monthly checks. 

"When I was in St. Louis, I [contributed to stipends for] Don Judd and Richard Serra and Bruce Nauman, and part of the Stella payment. This was an outgrowth of my paying him $500 a month. Then after I became a dealer, we started sharing artists…" - Joe Helman.

In this case, a customer eventually started assuming some of the risk of supplying that upfront stipend, presumably for early access to artwork. 

Don't worry about your slice; just bake a bigger pie 

Leo Castelli became a figurehead of American Art because he was willing to be a conduit. 

"He was interested in artists; he would come to all the parties. He especially liked to dance: that's how he got involved with artists." But, she continued more critically, "he was a tie salesman, he had a factory! It was his wife, more than he" - Ernestine Lassaw.

Success is a team sport. "Castelli had the ear, and Ilena the eye."* Regardless of their roles, collectors were demanding more 'American hero' artists and Castelli gallery was supplying them as a team. Leo and his wife fostered communities everywhere they went by paying their way through dinners and alcohol far outside of what artists could afford and taking people on holiday. They used their means where they couldn't contribute their artworks. In exchange, they became part of an exclusive club of artists (The Club, 39 East Eighth Street, 1950), which formally met to candidly debate new myths and how they should redefine themselves for a new generation. Leo and Ileana Castelli, together with the dealer Charles Egan, were the only non-artists to join as founding members. Castelli would later capitalise upon this information asymmetry through his network and knowledge. 

At the time art was sold from 57th Street galleries in NYC. But Castelli was globally ambitious and relied on a network of satellite dealers. Castelli Gallery achieved great success in NYC, but its global network brought its unparalleled deal flow to a market they controlled. When Leo and Ileana divorced, they remained close as she deployed the same technique in Paris. The unsung art hero, Ilena's poor father, again foots the bill as she took three years to wine and dine artists, host shows and generally turn her gallery into a bastion of American art within Paris. We saw people, and people saw us. That's what counted." - Ileana Castelli.

Ilena would even send collectors to NYC at Leo's cost. Castelli made a deal with his ex-wife where she effectively became a reseller of any works he didn't sell from his NYC gallery. He then extended this same model across America, and this opened a new incoming market to Castelli to continually rejuvenate himself through new trends, talent and dealers. Castelli Gallery became a brand and a uniquely gated market. Leo was a sole gateway to the sacred works of these great American artists, second only to museums. 

There was a limited amount of artwork that artists could produce. Roy Lichtenstein typically sold eighteen to twenty-five paintings a year at high prices. By 1990, his Reflections On "The Artist's Studio" went for $1,600,000; his total sales for that year topped $8 million, on which Castelli received his share of $800,000.

Collectors would have to compete for a privileged position at one of Lichtenstein's annual works. Not just for their walls but also their wallets. After the war, America passed tax laws that made it advantageous to give things to museums. 

"The [individual] tax rates got as high as 78 per cent. So you would have a picture for, say, $100,000, and you'd get a $200,000 appraisal on it, and you'd get seventy-eight times two is a $156,000 tax write-off for this $100,000 picture!" - Robert Pincus-Wittenm, 2008

Leo Castelli was the world's first mega-gallerist because of his mega network. The meteoric rise in prices over the next 50 years has much to thank Castelli for in laying a template for artist/gallerist/collector co-operation and market-making. However, Leo didn't just aspire to sit in an NYC gallery; he evolved art's tradition through new models and new heroes. Castelli's network of galleries created a new globally networked model that represented how he saw the world and cultivated a community of dancing partners everywhere he partied. 

Sources:

• Leo and His Circle: The Life of Leo Castelli by Annie Cohen-Solal
• *Boom: Mad Money, Mega Dealers, and the Rise of Contemporary Art
• ILEANA SONNABEND Ambassador for The New - MoMA
• Robert Rauchenberg: Man at work, BBC/RM in association with the Guggenheim Museum and Ovation; dir. Chris Granlund (Chicago: Home Vision Arts, 1997)
• Picture from Leo's brithday party in 1985 courtesy of Gallery98  
  
• Andy Warhol, Portrait - Leo Castelli, 1979, Mazzoleni collection, Bergamo; EF Arte, Milan.
  
• Photo of Leo Castelli with Willem de Kooning in back by vaccora photo
• Photo of Leo Castelli with Larry Gagosian & Charles Saatchi on holiday in st Barthelemy by Jean Pigozzi, 1991