Rafe Needleman wrote a great post the other day, focusing his remarks on strategies for High-Tech Start ups.  Much of what he said is relevant for any small business owner.  He suggests  companies evaluate products, be realistic about growth, cut unnecessary spending – expensive travel and entertaining, but keep their eye on the ball.   Keep spending on things which count!  He says:

Spend into the recession, or move. If you have a runway of funding to last out a bleak year, don’t panic. But most of all, don’t stand still. Go under the radar and build your product. Talk to your potential customers.

Talk to customers – Sometimes when things get tough, business owners turn inward. They become so focused on their own operations, they forget why they are in business – to serve their customers.

So my suggestion for the comming months – as you cut back on other things continue to invest in ways to have conversations – ( dialogues not monologues ) with your customer.   Knowing where they are in the comming months will help you figure out where you need to be