The current issue of MyBusiness includes an article on how business owners are bracing for an economic downturn. In the article, small business owner Mark Anderson says something that everyone should pay attention to: “When you see business flowing in regularly, you tend to get a little lazy.”

In other words, when business is booming, you might have a tendency to loosen up on keeping expenses in check. Or, you might purchase more inventory than you can handle.

The MyBusiness article offers some of the same tips as in this Smart Money article on controling your cash flow. No matter where your business stands in this economic slump, implement some or all of the ideas to stay ahead of the curve.