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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.

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Every professional story includes some mistakes and missteps—including the stories of successful entrepreneurs and business leaders. Mistakes are an unavoidable reality of everyday life, including in the business world. The key to success is not perfection but bouncing back from mistakes and learning from them for the future. Some of today’s most successful entrepreneurs faced significant stumbles and setbacks before striking gold. The members of Fast Company Executive Board have also overcome their share of obstacles during their professional journeys. Below, 13 of them reveal their biggest missteps on the road to success. The lessons they learned from them are among the many reasons they’ve gotten where they are today.

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Feeling like you don’t belong in the position you’ve achieved in your professional life can have a negative impact on your mental and emotional well-being, but there are ways to boost your confidence in your intrinsic abilities and qualifications. In recent years, the term “impostor syndrome” has become an increasingly common topic of discussion. People with impostor syndrome may believe that they are not truly qualified for the role they hold or may attribute the success they’ve achieved to mere luck. This can lead to unfounded feelings of being “unworthy” or fears of being “found out.” And no one is immune; imposter syndrome is an issue that affects everyone from entrepreneurs and CEOs to entry-level professionals. Left unchecked, this all-too-common phenomenon can be detrimental to both work performance and mental health. Fortunately, it’s possible to combat these negative perceptions and feel more confident in your achievements, worth, and potential. Below, 16 members of Fast Company Executive Board share their best advice to help those struggling with impostor syndrome.

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A basic understanding of consumer psychology can help you drive trust, connections, and ultimately, sales. Every business leader has heard the mantra: “If you want to boost sales, you’ve got to get to know your target audience.” Many companies limit this strategy to learning basic demographic information like age, gender, geographic region, and household income. But a smart leader knows that building an understanding of their customer or client base should also involve understanding human psychology. If you and your team understand basic psychological principles, you can form genuine connections with consumers, thereby building loyalty and trust (and sales). To help you achieve this, below the members of Fast Company Executive Board share 14 things every smart business leader needs to understand about consumer psychology.

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While not new or revolutionary, innovating trust in this new world of work puts even more of a premium on personal connections.

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There are smart ways to balance business growth with social responsibility (and even tie them together). Every entrepreneur wants to grow their business. However, as experienced leaders know, achieving and then coping with rapid growth comes with challenges. While the first topic that comes to mind may be managing complex finances or building a team to handle the heavier load, another factor to consider is how to address your company’s commitment to social responsibility. For example, the path to growth could potentially involve an expanded carbon footprint. Or hiring quickly to fill needs may make it more difficult to ensure your efforts are guided by diversity, equity, and inclusion.  Fortunately, entrepreneurs don’t have to choose between significant success and social responsibility. As the leaders of Fast Company Executive Board know, there are smart ways to ensure that your fast growth also comes with a positive social impact. To balance your desires to build your business and contribute to positive change, check out the eight strategies they share below.