How to Handle Sudden Bad News

Every so often, entrepreneurs find themselves facing the unexpected, whether it's a drop in sales, revocation of a credit line, or the emergence of a strong new competitor. What's important is how they approach, confront, and overcome the "out-of-left-field" news that can leave a small business reeling, says Scott R. Singer, managing director at The Bank Street Group, an investment banking firm based in Stamford, Conn. Singer, who co-wrote the new book How to Hit a Curveball (Portfolio, April 2010), spoke recently to Smart Answers columnist Karen E. Klein. Edited excerpts of their conversation follow.

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