A business blueprint for surviving in tough times

Riding out a downturn is common. Growing through one is what sets smart businesses apart

Economic cycles are a fact of life. Whether it’s rising interest rates, shifting regulations, supply chain disruptions or changes in consumer behaviour, tough times are inevitable. They test your operations, your mindset and your leadership. Building resilience isn’t just a response to crisis—it’s a long-term strategy for staying strong and competitive in any climate.

After more than 30 years of running businesses, I’ve learned that surviving isn’t enough. To come out stronger, your mindset and strategy must focus on thriving.

Here are seven ways to help you do that.

1. Think lean holistically

When cash flow tightens, the instinct is to cut costs. But many leaders limit that to just staff or marketing, missing dozens of opportunities to improve efficiency.

In my book Profit Yourself Healthy, I outline 107 areas where businesses can uncover hidden savings and boost profitability.

Being lean doesn’t mean cutting to the bone. It means looking at every part of your operation—vendors, processes, subscriptions, energy use—and identifying what’s no longer serving your goals. Thoughtful adjustments here can strengthen your margins without sacrificing long-term growth.

Quick, across-the-board cuts—especially to jobs or marketing—often lead to regret. Businesses that stay strategic and continue investing wisely tend to recover faster and stronger.

For example, a construction firm might find savings by reviewing fleet insurance or renegotiating supplier contracts. A dental clinic might improve margins by digitizing intake processes or consolidating lab services.

2. Grow sales strategically

When revenue dips, many business owners rush to find new customers. But acquiring new clients is far more expensive than retaining and expanding the value of existing ones.

Loyalty programs, bundled offers and targeted followups can all deepen those relationships. At the same time, your sales and marketing efforts should be focused and results-driven. Set clear goals, track what works and hold your teams accountable to outcomes, not just activity.

For instance, a local bakery could generate more revenue by offering bundle deals or reactivating past customers through email, far more cost-effectively than running ads aimed at cold prospects.

Strategic growth isn’t about doing more. It’s about doing what works better.

3. Be aggressively positive

Staying positive matters, but blind optimism can be dangerous. Studies of crisis survivors show that those who accepted hard realities while staying committed to a better future fared best.

That’s the essence of being aggressively positive. It means believing your business can adapt and thrive, even during adversity, without denying the difficulties.

As a leader, you set the emotional tone. If you communicate with clarity and confidence, your team is more likely to rally with you. Engage them. Share your vision. Invite their input on solutions. People are more resilient when they know they have a role in moving the business forward.

And remember, leadership during uncertainty is tough. Resilience doesn’t mean pretending things are easy—it means focusing your energy where it matters and asking for support when needed.

Aggressive positivity fuels momentum.

4. Shift from survival to strength

The difference between surviving and thriving is more than mindset—it’s about direction. If your only aim is to hold on, every challenge feels heavier. But if you’re working toward growth, even setbacks become opportunities to improve.

It takes energy to grow during tough times, but not necessarily more than it takes to just get by. The difference lies in where you invest that energy.

5. Strengthen your cash flow discipline

Cash flow is the lifeblood of any business. In tough times, forecasting it regularly—weekly or even daily—helps you make smarter decisions. Delay non-essential purchases. Speed up receivables. Negotiate payment terms. Even profitable businesses fail if they run out of cash, which is why consistent forecasting and control are critical.

For example, a landscaping company might require upfront deposits and stagger its billing cycle to build a buffer during seasonal lulls.

6. Invest in your people

Your team needs support, clarity and a sense of purpose when times get tough. Cutting back on development might save money in the short term, but it weakens your future.

Upskilling, cross-training or offering even small growth opportunities can boost retention, improve morale and increase productivity.

A small retail business might train in-store staff to also handle online orders, expanding capacity and boosting team confidence.

7. Embrace digital tools and automation

Tough times are the perfect moment to reassess how you work. Are there manual processes that can be automated? Could better systems free up time or reduce costs?

From inventory tracking and payroll to email marketing and customer service, digital tools are now more accessible than ever.

A food service operator, for example, might boost reach and streamline service by adopting an online ordering system or delivery app, creating new revenue while easing operational pressure.

Are you ready to thrive?

David Fuller is a Commercial and Business Realtor with a strong reputation as an award-winning business coach and author. He has extensive experience helping businesses grow and succeed, providing guidance on various aspects of business management, strategy, and development. His work as a business coach and author has earned him recognition in the industry, making him a respected figure in both real estate and business coaching.