Triumphing over setbacks can be one of the most challenging things that you do in your career. Whether you’re “the big boss” or someone who is supporting a team as they lead, finding those solutions to a bump in the road can be elusive.
There are strategies, though, that can help ease the temporary pain that a setback can cause. We looked at stories in Forbes and Entrepreneur that give advice on what to do if you have a financial setback.
Here’s a look at what you can do if there’s a setback that keeps you from achieving a goal or making the kind of progress that’s needed to thrive in business.
Play through problem scenarios now
Go beyond just the regular P&L budgeting and think about what would happen if you needed to answer a potential disaster. Finding out those vulnerable points in your financial planning can save you some headaches later.
Think about employees and skills
It’s also a good idea to plan for the unexpected beyond just a financial crisis. Having employees that are cross-trained can help you be prepared for unexpected shortfalls while still maintaining their work-life balance.
Consider automation
If you think about financial savings ahead of time, one thing that can help is to automate more of the “everyday” processes that can save company time as well as resources. Your employees will also thank you as they work on something truly meaningful.
Boost up your network of support
Look outside to others who can counsel and help if a crisis suddenly befalls you. This is not only true for financial stress but can also be something very important if personal setbacks become an issue in the workplace.
It’s clear that a nimble approach, guided with some help from everyone on the team, can be the best formula for making setbacks a temporary issue that can be solved – if not with ease, then at least in a way where there’s a satisfying turnaround.
At MJR, we can be part of the help and support you need, including a more proactive approach to collecting on debt. We specialize in receivables services, including 1st and 3rd party programs, that are a mix of the latest technology with peerless customer service.
MJR can also assist with inbound or outbound contact center solutions, back-office processing, direct sales campaigns, and customer retention and management services. Go to our site to see the full range of our offerings.
