Don’t get caught short if you have a home business.
Plan for a rainy day. Stick some money under a mattress
because there will be times when you need to fall back on it.
House holds will have the fridge, washing machine of car break down.
That is not bad luck, that is inevitable.
With appliances it is called planned obsolescence.
In business it is called the economic cycle which goes up and down every 7-10 years.
Be aware of regional problems and opportunities. An example is the slow down in
European and American economies while Asian and emerging markets are doing well.
You will need cashflow if everything goes pear-shaped or to take advantage of opportunities.
You need to focus on things that are in your control. Make sure you have a
business plan that’s flexible enough to handle everything that you can’t plan for.
