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In my last column, I went out on a limb for all of you by putting my cards on the table about the impending double-dip recession. We discussed how to make sure your clients view your products and services as indispensable investments with a positive return, rather than just another vendor they spend money on.

Oftentimes while at sea, a ship captain will tell the crew to batten down the hatches and brace for the impending storm. Well, we are at that time. Sales people are naturally gregarious and optimistic, so as a reflex, they will often dismiss what they deem as a pessimistic outlook. However, storms, whether geological or economical, are an inevitable fact of life and business.

Warren Buffet once said that more millionaires are made during recessions than in boom markets. Right now, if you are in sales, you have an opportunity to grow your market share by simply outlasting the competition.

In 2006, I went to a real estate conference where the speaker said, “When you go home, make sure you cut your budgets by 70 percent.” He then clarified: “I did not say seven percent—but 70 percent.” The speaker said this because he had been there before, and he knew that your sales volume will go down from time to time and a great defense against these dips is reducing your budget.

In that same light, here are a few things to consider while looking into the future of your business.

Step 1: The first thing you need is to anticipate where your vulnerabilities in your clientele currently exist. In other words, which accounts or customers might you lose, if an economic downturn turns into a double-dip recession?

A Thought: You may want to calculate what that means for the day-to-day operations of your business, as well as the cash flow to your personal income.

Step 2: Do you have a prospect list to replace any market share that might be lost, if, regrettably, my pessimistic forecast is accurate? If you do have this prospect list, which ones are ready to become clients— and in what time frame?

A Thought: A great way to prepare your business for a lull in cash flow or a reduction in market share is to begin cost-cutting and expense control today. You don’t have to already be in the storm before you batten down the hatches.

Step 3: Marketing today through the use of social media, viral websites and blogging is a great way to communicate to thousands of people for little to no cost. However, while others are solely using these tools, they can “innovate” themselves right out of business. If your clients don’t see your smiling face in person, you have a problem. And when you do see them, don’t tell them your problems; smile and then cry on the car ride home.

A Thought: If you truly love what you do, external pressures, though stressful, will not prevent you from caring about your clients, and they will know they are doing business with the right person.

The coming storm is truly scary. We are facing uncertain economic times, and if you’re truly not concerned, then I would seriously question your judgment.Still, the key to weathering this storm is to face what’s coming with courage and confidence by working smarter and harder, radically reducing expenses and outlasting the competition because they simply don’t want it as bad as you do.