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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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Generating enthusiasm for the ever-evolving tech sector among Indigenous youth can be a key contribution to reconciliation and a key benefit for the economy as the world becomes increasingly digitized.

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After a particularly challenging year in our world, my advice—metaphorically speaking—is to shovel your neighbor’s driveway once in a while and find ways to make life better in your corner of the world.

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Top business leaders discuss the most effective approaches they've utilized to increase their customer reach. Coming up with a winning strategy to build a better brand and increase your company's prospects for steady growth may be a hit or missed opportunity if you're not being intentional about how to attract and retain your ideal customer.  Conducting A/B testing on a regular basis is one of the best ways to sample various marketing strategies until your marketing and sales team can pinpoint what actually sticks with your target audience members the most and why it stands out. Below, 13 Fast Company Executive Board members explain their methods to gaining more traction in today's competing business industries and how your organization can do the same.

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Tune out the industry naysayers and lean into solving your target market's pain points. When you're a brand disruptor who aims to provide innovative solutions in an established "business as usual" marketplace, your company and its leadership are bound to ruffle some feathers. To overcome any negativity, continue to stay above the fray and let the data speak for itself. By proactively educating the underserved market of consumers and staying truthful about your business intentions, you'll mobilize a community of ambassadors in no time, who are willing to support your organization's potential and share their personal testimonials.  As you begin to strengthen your client base, remember to put their needs first. But it's also imperative to build bridges by keeping your competitors even closer. At the end of the day, feedback, whether good or bad, fuels inspiration and innovation. This puts your company in a much better position to address concerns, defend its own progress, and defeat the status quo mentality of other colleagues in the field. Below, 16 Fast Company Executive Board members share tips to maintain your clients' confidence in your new establishment and develop loyal partnerships that will last a lifetime.

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To be effective and valuable, a tech worker needs to have passion.

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12 ways managers and staff can command professional higher standards for themselves without obsessing or feeling anxious. What does your version of "finished" look like? Does a designated task have to be "perfect" or can it simply be "good enough"—for the moment?" If you're a manager or direct report who struggles with the idea of "perfectionism" in the workplace, then you may be missing out on the bigger picture.  While the fine details of a crucial assignment or potential contract should never be compromised or taken lightly, finding the right balance to get the primary work done, effectively, and in a timely given manner is just as essential. Focusing on what you can control—in lieu of what you can't, is also a key component of personal growth and continued learning to build further on the next iteration of a project. Here are 12 tips from  Fast Company Executive Board members to help change your mindset and improve your workflow habits so you can move forward.

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Inspiring employees to address current business challenges—transparently and collaboratively—enables the opportunity to find innovative solutions for business growth.  Tapping into the ideas of the people you work with each day is an effective way to foster the spirit of intrapreneurship on the job. It can move the company closer to its mission to spark innovation that has a positive influence, in-house and externally, in the marketplace.  An employee's concept may seem risky or unconventional, at first, but as a leader, being willing to facilitate a safe space for staff critical thinking and creative experimentation will help the business and its team stay fresh, collectively, moving forward with better outcomes for the organization and attainable solutions for its current and potential clients and customers.  Below, 14 experts from Fast Company Executive Board are sharing their best practices to inspire innovation and intellectual freedom that will excite your team.

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The current climate has launched the economy into uncharted waters and has resulted in an emerging employment trend: layoffs.

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Here's some extra motivational wisdom to keep you moving forward as well. Running a business is not for the faint of heart. It requires the confidence to make better decisions and self-awareness to remain humble enough to attract employee loyalty and trust.  In addition to having critical thinking skills, you also have to be willing to consider other people's ideas and be ready to pivot, carefully, as the market—as you once knew it—begins to evolve. We asked 16 members from Fast Company Executive Board what inspires them to keep striving and stay in business. Here's what they had to say.

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Carving out the time for self-improvement on the job can pay off big time. Whether you are a newcomer to the industry or a longtime go-to expert in your field, there is always something interesting to discover, so embark on being a consummate learner.  No matter what the subject, you're bound to find plenty of resources, you just have to know where to look. As you elevate your skill set, put it into practice so you can also begin to teach other colleagues. By doing so, you'll not only absorb a technique, you'll be a master.  Below, 13 Fast Company Executive Board members provide their best practices for approaching continued education opportunities—on the job, online, or on-site.

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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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Committing to a good cause doesn't need to break the bank. Although start-up business owners are oftentimes running their operations on a tight ship with a limited budget, that doesn't necessarily prevent them from giving back to the local or global community on a regular basis.  With their heart in the right place, leaders who are passionate about a worthy cause should research specific organizations that align with their company's core values and overall mission. Then, commit to involving their entire team in a company partnership–with at least one of those charities–that will truly make a better difference. Below, Fast Company Executive Board members provide 11 ideas to help early employers get creative about how to incorporate philanthropy with purpose in a cost-effective way.

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Living up to their own set of standards enables managers to increase credibility, mutual respect, trust, and engagement with their teams. Whether it's a start-up business owner or the CEO of a Fortune 500 company, it's important to lead by example if managers expect their employees to emulate the core values and mission they promote to meet business goals. Expressing constant negativity about the challenges of work is also counterproductive for leaders who want to encourage an open-door policy for communication and build a culture of psychological safety. Being an active and collaborative listener, who is willing to consider the ideas and feedback of staff seriously, also inspires trust and team morale.  Below, experts from Fast Company Executive Board are here to explain 16 behaviors that managers should aim to avoid, and how they can improve on breaking the cycle.

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The number of self-made tech professionals is ever-growing—perhaps the perfect solution to a field that evolves greatly every day.