Recession Session

1. Cut costs by renegotiating leases, loans and other long-term commitments.
2. Don't try to save cash by stretching payables; you may alienate suppliers.
3. Don't let a sense of emergency push you to make rash cuts.

MANAGEMENT

1. Be visible to employees.
2. Be accountable; don't blame troubles on anything but your own decisions.
3. Look for opportunities to improve or expand your work force.

MARKETING

1. Re-examine customers to make sure they're profitable and dependable.
2. Focus marketing efforts on opportunities for quick sales.
3. Take advantage of competitors' excess timidity to expand.

TECHNOLOGY

1. Don't overreact; stick to your long-term plan for technology investment.
2. Don't miss out on innovations that could let you compete in the next boom.
3. Invest only in technology offering current benefits, not just features you may one day need.