Never put all your eggs in one basket
Have a functional back up plan ready
Assess vulnerability of your business plan on different parameters and varied possible future scenarios
Keep a flexible business mindset to quickly negotiate changing business dynamics
Don't regret on mistakes made, learn from mistakes, change the strategies and move forward
Maintain professionalism in in your work even if you are doing business with friends,
Always keep few alternate revenue sources or prospects around your business, it will give you hope and boost your moral when business in down.
Always be prepared to materialize approaching business opportunity
Learn how to materialise every Business Opportunity which comes your way in the following post - http://fromthediaryofmentor.blogspot.in/2012/02/never-miss-business-opportunity-again.html
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