Five Mistakes to Avoid During a Downturn

Our finance columnist offers a what-not-to-do list for small business owners facing tough times

Companies make mistakes all the time. However, in an economic downturn, avoiding the big ones is crucial. Small business owners tend to react to bad news impulsively, but they should take the long view and pace themselves. To get funded, stay funded, or just simply stretch your cash, you'll need to avoid the following common mistakes. If you've made them already, it's time to course-correct (BusinessWeek.com, 5/7/07), meaning spot mistakes and take action to fix them. Right away.

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