Set up or expand lines of credit at the bank. It's generally better to let your banker know that you may need some cash in three to four months rather than calling and saying you need to make payroll on Friday. Revisit your business plan. This year may not look like 1999 or 2000. Revisit your marketing plan.
Businesses often get work, then do work, then get work, then do work.
If you have not been marketing like you should because you have been blessed with enough business, start the planning now and keep it in place through the next cycle. Communicate with employees. Let them know what you are doing to compensate for a slowing economy. With layoffs in the news, even the safest employees may not feel so safe. Let them know, where applicable, that they will not be laid off.