Otherwise, you may find yourself running out of cash, which is something you always must avoid. You should have some expectation that the pressure banks are under will change on the upside of any downturn. Consequently, borrowing will eventually become more difficult. Expect to see more of the lending problems business customers may have experienced in the past.

In summary on this point, know how much cash you will require to survive and reinvent your business and then ask for what you need! Do not be shy! Ask with sensory acuity. Ask with a confident smile. Keep asking until you make the required combination of arrangements to “not run out of cash”! Never Operate without a Written Business Plan It is surprising how many business owners expect to operate their businesses without written business plans. Hopefully, you are not in that group. But, if you are, that can now be in the past.

Businesses without effective plans will never know how much greater results they would have had if they had taken the time to do some additional thinking and planning. A well-thought-out plan is a required document to know where you want to go and how to get there.