Ido Wiesenberg

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Growth at all costs doesn’t make the cut anymore, and the only way to get into the new economic reality is long-term sustainable growth and profitability.

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Here are 11 factors to consider before you open a second or third location. If revenue streams are increasing at your flagship location, then your business may be ripe for an expansion. But just because business is booming doesn't mean you should make assumptions about your potential to succeed in a new market (locally or globally).  Taking on additional overhead should be a strategic decision that is driven by potential new revenue, a decrease in expenses, or provides a competitive advantage to make the company a standout. Below are essential questions that Fast Company Executive Board members urge you to ask yourself before you move forward with the right plans to grow the business.

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Being able to stay consistent with your strategic approach to meeting goals is key when it comes to navigating data variables. Technology is a useful tool to help businesses remain relevant in the marketplace and understand the data behind their consumers' behavior patterns. However, it's crucial to merge human intelligence with the machine learning elements, so you can ask the right questions and keep up with market trends alike. Below are 12 suggestions Fast Company Executive Board members offer to get you up to speed with data-driven market segmentation and how it can help you meet your business and customer needs.

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Embolden your introverted employees to make their voices heard. When you are leading a diverse group of employees who vary in personality, learning styles, and how they participate in the business settings, it's important to tune in to their needs and make sure your entire team is feeling valued in the workplace and given ample opportunities to be heard. Developing multiple lines of communication to enable feedback from every employee on your team is ideal. Doing this will help guide your decision-making process and build on those team suggestions to move the company one step forward in the marketplace.  Below, 12 Fast Company Executive Board members share ideas to encourage introverted team members to speak up during group collaborations, or their preferred method of communication. This is key if you want to avoid always hearing from the same extroverted contributors.

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Here's how to build your public speaking skills and command a crowd's attention. If you're an introverted employee who is uncomfortable about speaking in large group settings—internally or externally—you probably prefer to keep your head down and let your work speak for itself. This method has helped you to succeed in your industry and now you're at the top of your game.  However, when you step into a leadership role, sometimes duty calls. You may need to present a complex business concept or product launch during a company town hall. You may need to answer to executive leadership members regarding your team’s performance levels during a great (or not so great) quarter. You may even be called upon—at some point during your time with the company—to communicate on its behalf about a hot topic of issue, among your fellow peers in a public space.  If you're lacking in confidence on how best to prepare, there are plenty of outlets to practice and improve your presentation skills in time for the next big meeting. Below are 13 ideas from Fast Company Executive Board members that may also decrease some anxiety before presenting.

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Feeling "stuck" can have a negative impact on multiple areas of your business. Thankfully, there are ways to reignite your creative spark. No matter how successful their company is, it's common for business owners and their teams to feel stuck in a rut. Whether employees aren't as productive or creativity is no longer flowing, these circumstances can cause a drop in sales and have a negative impact on company culture overall.If this feels like the situation you're in, there are some ways to get "unstuck" and jumpstart your business's success. Below, 15 members of Fast Company Executive Board shared some tips for sparking unique creativity for your brand in 2022.