Holly Sydnor

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Here's how to stay on top of changing trends and keep consumers satisfied with your brand. Although innovative technologies continue to evolve in order to keep up with changing consumer trends in the marketplace, sometimes it is still difficult for business leaders to gauge which way their particular client or potential customer may be leaning next. Over the years, the following experts from Fast Company Executive Board have also been impacted by changing consumer behavior patterns and preferences in their specific markets. Below, they share some best practices to help other leaders remain true to their brands while still meeting customer expectations.

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Even if you're self-funded, there are affordable ways to recognize and reward your team for a job well done. For a bootstrapped startup, giving monetary rewards to show appreciation to stand-out employees might not be possible in the very beginning. But there are other kinds of rewards and ways of recognizing hard work that experts have found make a larger impact than money. From shout-outs in all-hands meetings to creating dedicated "kudos" Slack channels, startup founders have created innovative and effective ways to show their appreciation for their employees' hard work without going over budget. Below, a panel of Fast Company Executive Board members provides their best cost-effective ideas for recognizing employees for their excellent work.

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Every single person on your team—in the early days—needs to have an entrepreneurial spirit. If you want to launch a growing business and be successful, it's important to create a strong mission statement and surround yourself with folks who are willing to put in the work because they're passionate about what they do. Business leaders should also look for people who can carry out core values and continue to foster a positive company culture that lives up to the brand that the founder envisions.  It may be difficult to obtain the best talent in the market, so start with the peers in your network who respect what you're already doing and are happy to support what you stand for. Below, 11 expert panelists from Fast Company Executive Board suggest other leading traits business owners and managers should think about when they are trying to match a job candidate within their company. 

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Here's what ignoring industry feedback can teach you. While it's practical for business leaders to lean on each other for inspiration and advice in the marketplace, sometimes the feedback is based on opinions, less driven by the facts. That's a red flag to go with your instincts and continue to do your own research.  If you want to thrive in your industry, it's important to gather a diverse set of information and reach out to your network, but remember that it's you who has the final say when it comes to making the right decisions that will serve your company well. Below are 11 positive lessons that Fast Company Executive Board members have learned by ignoring negative feedback they've received during their time in the business world.