Dan Farber provides some sage advice about weathering the downturn:
Reading The Wall Street Journal and watching CNBC lately can drive a person (namely me) to drink. Which is fun, but beyond answering the question, “Which scotch will I drink?” the seminal question is “How do we thrive in a downturn?”
Downturns are the best time to take market share. Most companies overreact. They get too conservative. They also forget that they are not the victims of the market.
Now, you are probably nodding wisely at this, and saying to yourself ‘So what, I’m not a company’.
But you are. You are a company of one. You have your sales and marketing, you have your executive decisions, you have your production, etc. This can be a time for you, yourself, to improve your “brand” and line up new customers.