Ximena Hartsock

expert panel

No entrepreneur starts their business journey knowing everything, so it helps to have some hints from those who have walked the path before them. Every entrepreneurial journey comes with a learning curve—one that is likely to include both missteps and victories. Experience may be the best teacher, but it doesn't necessarily have to be one's own personal experience. By getting advice from others who have taken the journey before them, entrepreneurs can gain insights that smooth some of the bumps in the road ahead.  Following the right advice can save you from making some of the big mistakes that have cost other entrepreneurs wasted money, time, and energy—and help you make smarter decisions that will shorten your path to success. Below, 16 members of Fast Company Executive Board share the financial advice they wish they’d received prior to starting their businesses.

expert panel

Leading a remote team can be challenging, but with the right strategies, you can keep your team aligned and productive no matter where they’re located. Throughout the pandemic, many companies were forced to make an abrupt shift to a fully remote work environment. This, combined with the growth of the gig economy, means that today, many managers rarely if ever meet with their team members in person. The transition was a difficult one for some businesses, and it’s normal for leaders to feel like they’re still learning about and adapting to managing remote team members. The last several months have proven to many businesses that it’s possible to maintain or even improve productivity levels even when some or all team members are working from home—if managers adopt the right leadership strategies. If you’re still learning the ropes when it comes to managing remote and contract workers, check out the following recommendations shared by members of Fast Company Executive Board.

expert panel

To achieve lasting success, company owners and leaders must learn how to establish long-term relationships with customers. As a business owner, you want every interaction customers or clients have with your business to be a positive one. While most successful businesses develop policies and procedures to try to ensure stellar service, building outstanding customer relations doesn’t stop there. Leaders can’t simply assume that the services and support they’ve developed are exceeding customer expectations. To know for sure, you have to go straight to the horse’s mouth—you have to not only listen to what your customers say to and about you but also track to see if they continue to choose your business in the future. While you may not be able to ask each of your customers personally for their opinion of your company, there are metrics you can monitor to ensure you’re on the right track when it comes to offering outstanding customer service. Below, 12 leaders from Fast Company Executive Board share the metrics their organizations track to help them develop long-lasting relationships and a strong community of fans around their brand.

expert panel

New entrepreneurs often approach their hoped-for mentors first, but successful industry leaders can and should proactively reach out to help the next generation of professionals, leaders, and business owners. Often, new and young entrepreneurs are advised to seek out a mentor. Their eagerness to learn and humility when asking for help can be a huge asset in their entrepreneurial journey. However, they shouldn’t always have to do the leg work to forge a successful mentorship. Rather than waiting for an up-and-coming professional or budding entrepreneur to contact them, established business owners and leaders can be proactive and give the next generation a leg up by sharing their experiences, insights, and assistance. There are several opportunities for successful leaders to pay it forward, and it doesn’t have to be through one-to-one mentorship (although that can provide amazing insights and opportunities for both parties). Whatever the time commitment they’re able to give, leaders can and should find ways to help the next generation as they begin their journey. Below, 15 members of Fast Company Executive Board share ways to do just that.

expert panel

Research shows that the pandemic has disproportionately affected the well-being and careers of people of color, and employers need to implement measures to mitigate that impact. Throughout the pandemic, numerous news stories have reported the outsized impact of COVID-19 on people of color—not just in terms of health equity but their overall well-being and career trajectory. While business leaders can’t control the course of the public health crisis, they can work to mitigate any negative secondary outcomes for their staff. One way to do this is to ensure that team members of color have the support they need to continue to grow in their careers and maintain a healthy work-life balance, both now and beyond the pandemic. To help business leaders achieve this, eight Fast Company Executive Board members share their insights and advice below.

expert panel

Artificial intelligence has the potential to streamline everything from data science to content creation. Artificial intelligence has broken the boundaries of the tech world to become a focus for businesses of every stripe. Articles on the business benefits of AI feature regularly in publications devoted to any and every industry. Small-business owners reading all the ink on AI may think, “That’s great for the big guys, but there’s no way I can afford to set up or use AI.” But they’re very likely wrong about that. In today’s market, you don’t need an in-house IT team or deep tech skills to realize the productivity boosts and cost savings of AI. Existing tools and low-code platforms make tapping into the power of AI an achievable goal for businesses of any size and expertise. And you might be surprised at AI’s flexibility—there’s much more AI can do for your business beyond powering a website chatbot. So what are the ways small businesses of today are leveraging the power of AI? Below, seven members of Fast Company Executive Board share the ways they—and you—can see big benefits from this ever-expanding tech tool.