Do your homework

I have discussed how important doing the right amount of research is, particularly today, in an earlier blog - I believe it is worth emphasising again.
Whether one is starting a new business, growing or expanding an existent one or even 'keeping one's head above water', one needs to manage and make use of the available information. The current economic crisis has taught us that things can change very quickly and dramatically without too much warning - the ripple effect from the credit crunch / sub-prime fiasco was felt throughout the world within a very short space of time - 18 months ago, not too many people had an inkling of what was to come.
Hopefully (& it is very unlikely) we will not experience a similar crisis for some time to come - but it should serve to constantly remind us that we cannot be complacent, should not assume anything and always consider the worst case scenario.
When doing your planning & research for any undertaking, try and get as much independent input as possible from people you trust & whose contribution you would value.