Interesting article which a friend suggested I make available to you. And I agree with the author that it is not just the turnaround or pre-bankruptcy crowd that sees these issues.

http://jemoore.typepad.com/blog/2011/10/early-warning-signs-of-atroubled-business.html

Listed below are ten early-warning signs to be alert for:

1. Management slippage
2. Planning/budgeting deficiencies
3. Weak accounting and reporting
4. Responsibility and accountability issues
5. All eggs in one basket
6. Increasing customer complaints
7. Financial ratio declines
8. Cash shortfalls
9. Decreasing employee morale
10. Lender unrest

If any of these comments strike a cord, click through and read the full article available on the url link above.

My addition to this overview is to suggest you consider a process to uncover your million dollar blind spots before they blow up and create problems like the ones noted above. Common sense and using some of the best practices contributed on other posts or on www.FiscalDoctor.com are the basics of the mistakenly believed expensive and difficult sounding risk safety nets like the following:  enterprise risk management, ERM, operations risk management, ORM, strategic planning revisions, business model updates, contingency planning, scenario planning, disaster planning, or even good old fashioned budgets. You can start these crucial activities on a shoestring or beer budget.