Head Exposed Press
To plan ahead for the bad times in businesses, based on personal experience, I saved up funds way, way ahead. Saving around 20 to 40% of your income would do the trick. You'll never know, for in the end you'll make use of these savings for the rainy days.

Ray
1) Do not go into debt to start/expand a business. Do it on a shoestring and you'll be far ahead. Limited financing on a sound idea could reap big rewards. Large borrowed financing on a gamble could easily loose everything you have; especially in bad times.

Priti
One myth that people think about when writing out their plans is that if they don't reach them, they have failed. Let me straighten that one our for you right now. Just because your didn't hit your target doesn't mean that you didn't do anything right, it only means that your closer than before you ever had a plan. Think about that for a second, who made you create your plan? (please don't say me) you did! Who got upset from not hitting the mark (you did). See the key is not to allow yourself to feel bad about not being perfect with your plans. Its not the destination, its the journey that matters. Instead, lets try to concentrate more on why you are doing this in the 1st place. Is it for your family? Is it for more time? More money? Whatever your reason is, think about that and only that when it comes time to revise your plans. Well why wouldn't you? When I think about my business, I think of what it will do for me, my friends, and my family in the future. At the moment, I am currently not married nor do I have any children but that doesn't mean that I am not thinking about the future with a family in it. Always consider business & family the same. They are a both part of yours and the their future