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Sometimes, the biggest business challenges can yield the most valuable lessons for future success. Running a successful business is not just about profits and revenue. It also involves learning from mistakes and setbacks that might seem devastating at the time. The good news is that some of the most challenging lessons a business can face can ultimately be the ones that bring about the most significant improvements. These lessons can come from a variety of sources, such as unexpected failures, market shifts, or even internal conflicts. Below, 16 Fast Company Executive Board members get candid about some of the most difficult lessons they've learned as leaders and how those lessons have ultimately resulted in positive business outcomes.

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Create clear expectations and communication so your team will succeed. To avoid burnout in the workplace, it's essential for every leader to learn how to delegate their workload before they begin to feel overwhelmed and off-balanced. However, it takes some time to assess who you can really trust to meet the same expectations and execute your goal. But once you find your sweet spot of handing assignments over to the staff members with enough bandwidth, sometimes the problem is relying on others way too much. It's not always a good practice to let go of too much, too soon. If you are having issues with over-delegation, here is what 11 experts from Fast Company Executive Board have to say about what they've learned about the error of assuming that everything is being taken care of when the leader is away or focused on other tasks. 

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Implement these latest innovations to help your company thrive. Whether it's utilizing a bold color statement in a rebranding campaign or coming up with an innovative human-centered design that serves current and prospective clients much better, there's a lot for companies to be excited about and engaged in the upcoming years. As the competition continues to escalate, company business leaders and their creative teams need to stay ahead of the forecast so they can be one step ahead in the global market. We asked 13 leading experts from Fast Company Executive Board to share their thoughts on some of the biggest design trends on the rise and why they're so essential.

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It's not a race. Planning every step will help your business minimize wasting resources and maximize revenue.

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Don't be afraid to get out of your comfort zone and take the next step to increase your personal connections.  Whether you consider yourself an introverted or extroverted business person, it's always key to find a way to expand your network if you want to elevate your professional reputation and knowledge base. It can help you become more engaged in the industry or community you represent and share with others who are not inside your immediate circle. Below, 14 Fast Company Executive Board members discuss their ideas on how colleagues can become open to developing a new mindset and potentially provide resources for those in need through partnerships with other peers.

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Clients and customers are the lifeblood of company growth, so be willing to resolve differences amicably and meet them where they're at. In the business environment, it's impossible to please everyone all of the time. But when it comes to satisfying and dealing with your own clients and customers, they're always a way to come up with a practical solution to serve the best interest of each party. Being an active listener, who is able to keep calm and professional, no matter what customer challenge they are facing, will move the conversation forward in a positive direction and potentially help salvage the relationship.  Below, 14 Fast Company Executive Board members are sharing their best solutions to make disgruntled clients feel valued and increase satisfaction rates.

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Here's how business leaders are getting customers to participate and connect on a regular basis. Launching a viable company is not only about developing a quality brand of products and services, it's also about building long-lasting relationships with loyal clientele. But how can a business owner gain initial attraction from potential customers and partners in the marketplace that will enable their early establishment to grow?   Whether it's an online chance to stack up on reward incentives, or an in-person special event featuring a CEO AMA, the customers are sure to appreciate every opportunity to rub shoulders with the company's representatives, share their feedback on an added value item, and much more. To offer leaders and their teams some additional ways to keep the conversations going, below are 14 Fast company Executive Board members to share tips on what's been working for them.

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Leaders (and their teams) can see significant benefits from participating in industry social settings. In its earliest stages, the Covid-19 global pandemic forced business leaders everywhere to put domestic and international travel plans on hold and cancel their annual in-person conferences until further notice. As creative virtual teams came to the rescue with alternative solutions that went off without a hitch, on-site events eventually returned, slowly, in the process. Although some executives may be hesitant about re-engaging—even after a few years, others are excited about their upcoming speaking engagements or networking prospects alongside longtime industry friends and peers they have missed. Whether it's sharing industry knowledge with the next generation of leaders, landing a feature interview for publication, or identifying a future potential business partner, the following Fast Company Executive Board members below are here to support their reasons for returning to the main stage as a guest panelist and how being back in the building is impacting their continued career growth.

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Here's how to attract and retain long-term clients. If you are thinking about launching a YouTube page to increase consumer knowledge about your products or services, it's important to focus on the key interests of your target base and deliver that content consistently. Finding a creative way to keep viewers engaged with your company through a topic you are mutually passionate about is the perfect way to demonstrate your knowledge and establish further credibility in the marketplace. In the end, the goal is to convert your social media followers into new loyal customers, but it's not so easy. To assist leaders with these efforts to grow their company's business, here are 15 reliable tips, courtesy of Fast Company Executive Board members.