In this episode, Aaron Opalewski and EJ Swanson discuss the importance of feedback loops and how they can lead to success in various areas of business. They explore feedback loops in projects, the development of new service lines, and the positive outcomes that can result from analyzing failures. They emphasize the need for quick adjustments and the ability to learn from mistakes. They also discuss the role of feedback in the ideation process and the importance of evaluating ideas and giving feedback. In this conversation, EJ and Aaron discuss the importance of feedback loops in leadership and how to navigate them effectively. They emphasize the value of embracing different ideas and allowing team members to run with their own ideas, as long as they align with the overall strategy. They also discuss the role of feelings in feedback loops and how leaders can navigate them. The conversation highlights the importance of delivering feedback with empathy and building trust with team members. They also discuss the benefit sandwich method for giving feedback and the role of recognition in coaching moments. Overall, the conversation emphasizes the importance of feedback loops in driving growth and improvement.TakeawaysFeedback loops are essential for improvement and success in business.Analyzing failures and making adjustments based on feedback can lead to significant positive outcomes.Quick adjustments and the ability to learn from mistakes are key characteristics of elite performers.Feedback is crucial in the ideation process, and it is important to evaluate ideas and give feedback based on experience and knowledge. Embrace different ideas and allow team members to run with their own ideas, as long as they align with the overall strategy.Navigate feelings in feedback loops by delivering feedback with empathy and asking good questions.Be open-minded and build trust with team members to foster growth and receptiveness to feedback.Recognize and address performance issues by providing specific feedback and acknowledging areas of improvement.Embrace feedback as part of the process and view it as an opportunity for growth and improvement.00:00 Introduction01:22 The Importance of Feedback Loops09:03 Feedback Loops and Developing New Service Lines13:41 Positive Outcomes from Feedback Loops15:38 The Importance of Quick Adjustments21:26 Evaluating Ideas and Giving Feedback26:31 Embracing Different Ideas27:53 Feedback Loops and Navigating Feelings29:20 Dealing with Different Levels of Receptiveness31:24 Delivering Feedback with Empathy32:20 The Long-Term Perspective in Feedback33:26 Building Trust and Open-Mindedness36:13 Recognition and Coaching Moments39:07 Feedback Loops in Meetings41:08 The Benefit Sandwich Method46:59 Recognizing and Addressing Performance49:26 Embracing Feedback as Part of the Process50:15 The Importance of Feedback Loops

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