Eddy Azad

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If your loyal customer base isn't enough to keep your doors open in a challenging market, here are a few strategies to change your luck. Running a business is no easy feat, especially when faced with factors outside of an owner's control—such as high rents, supply chain challenges, and stiff competition. Despite your loyal customer base and quality service, you may still struggle to keep your business afloat. For business owners facing these tough realities, Fast Company Executive Board members share practical advice and creative strategies that can offer new paths forward. Read on to find helpful tips to weather obstacles and find new ways to sustain your vision in the community.

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Here are five practical, data-backed steps to achieve more sustainable operations.

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It's lonely at the top if you don't have the right support network to lean on regularly.  According to a Harvard Business blog, approximately 70% of CEOs have reported feelings of loneliness. But the good news is, they don't have to go it alone if they begin to lean on their peers with similar career circumstances and are willing to collaborate and learn from each other. Keeping an open-door policy at work and staying connected with staff members across departments is important for strengthening work relationships and a sense of togetherness. However, it's also necessary to maintain a work-life balance to enjoy meaningful activities with family and friends that will reinvigorate your purpose for pursuing your livelihood each day. The following experts from Fast Company Executive Board have all had their moments. Here, they each offer their suggestions on how to find the right support and build community to create success in any role.

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When the going gets tough, these leading experts have had the tenacity to keep it moving through each struggle. Taking on a leadership role in the workplace may seem like a daunting task if you don't have the right mindset. You'll need to address just as many challenges as the wins you celebrate—so it's not a position designed for the faint of heart. If you're feeling frustrated, overwhelmed, or underappreciated, it's essential to prioritize what matters most, take a step back, and consider the bigger picture. There is usually a silver lining in most situations. Whether you decide to stay in the game for the long haul and find the best solution, or you're ready to take a risk and consider your next career move, the experts from Fast Company Executive Board describe how they've maintained their own positivity during a difficult time in their career. Below are 20 best practices to help other professionals do the same.

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Start with internal pilot projects and develop robust measurement systems to get the most out of AI while mitigating risks. Many companies are using AI to increase efficiency and reduce costs. However, because this technology is still evolving, it can create disruptions in your organization's culture and workflow if not used effectively. Below, members of Fast Company Executive Board share their tips for using AI to increase growth while managing the potential risks involved. With a well-planned approach that focuses on organizational goals and measurements for success, your company can leverage AI sustainably to support your team.

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Founded by Fast Company Executive Board Member Eddy Azad and supported by a well-seasoned team of employees, Parsec has grown from a system integrator into a full-fledged technology provider whose manufacturing execution system (MES), TrakSYS™, is driving the future of manufacturing.