Ideas include document templates for paperwork, consistent guidelines for subcontractors, spreadsheets to track expenses and a system to capture receipts (even if it’s a different shoebox for each month).

Running a business, be it a startup or small-to-medium-sized company, is no mean feat as you’ll undoubtedly have to deal with financial setbacks from time to time. This is a nightmare that every business owner wishes not to have to encounter at all.

Recordings of your service and sales team members’ customer calls can also be a powerful training tool, enabling you to clearly outline service expectations and facilitating discussions about ways to improve sales skills and customer approaches, with relevant examples.

With that said, many business owners are usually stuck wondering how best to recover from business loss. If you’re in a similar situation, here’s a guide on the practical business strategies to employ when looking to recover from a financial loss.

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