Mark Cuban, owner of the Dallas Mavs and sometimes polemic blogger, gives some great advice for entrepreneurs in this “bubble 2.0″ kinda world. Most of this probably applies in the downtimes as well. In summary:

1. Everyone is a genius in a bullmarket
2. Win the Battles you are in before you take on new battles
3. You can Drown in Opportunty

I can definitely relate to number 1 and number 3. Number 2. seems like its part of number 3.