One of the disadvantages of flying high is that at some point, you have to come back to earth. It is an inevitable fact that one cannot remain aloft forever, so the wise one prepares for the descent and chooses a safe place to land.

The same is true in our businesses. There are highs and lows, but as we change from one extreme to the other, we need to make sure that we have all of the preparations in place for a smooth transition.

Pilots use checklists and manuals to ensure that an airplane is able to land safely. Likewise, we should have clearly written plans to cover all possible contingencies in the cyclical nature of our profession. It is much better to have clearly researched guidance at hand than to try and make changes "on the fly!"

There is still time for us to prepare our 2009 business plan. If we plan now for what might happen next year, we won't be caught off guard. There's no need to "wing it!"

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