There are a few steps a corporate entrepreneur needs to take to build stakeholder support.
- Identify all stakeholders. The corporate entrepreneur needs to identify not only the sponsor of their venture (i.e. the ultimate source of funding), but also who their internal champion is, any influencers who have the ear of the sponsor and may block or support the venture, any veto powers, and end users of their solutions.
- Map each stakeholder's level of support for their venture. For each stakeholder, the corporate entrepreneur should understand where they stand relative to their venture - whether they are blocking or supporting their venture.
- Map each stakeholder's interests. The corporate entrepreneur should understand each stakeholder's interests (organizationally and personally) and figure out where their venture lands in the priorities of the stakeholder.
Once they have done all three, the corporate entrepreneur has all the data to contemplate how they might align their venture to match the interests and priorities of the stakeholders, and put themselves in the best negotiating position for support and sponsorship of their venture.