What to Do When a Customer Bolts

The time between getting notice of losing accounts and their impact on your profit and loss statement can vary. Corporate edicts could take months and even years to implement. Other scenarios may be more brutal when a major customer makes an overnight switch to one of your competitors. Yet any loss of revenue should lead you to reflect on one crucial question: How can I manage the sizeable drop in sales volume? Before the loss of a major customer dramatically affects the business, Mallory offers some quick steps to proactively manage the transition and take advantage of new opportunities.

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