Profits for many businesses have taken a big hit...
And unfortunately, some are facing a profit death spiral that brings everything into question -- and throws all traditional business planning into the wastebasket.
Start by getting Very Clear
Take out paper and pen to write down your answers... while you ask yourself the following six essential small business recession survival questions:
1) "What are my most profitable business activities right now -- that are likely to remain consistent and keep producing in the current environment?"
(Consider if, in the best case scenario... doing only the most profitable business... will that be enough to support you?)
2) "Do these activities produce enough profit to warrant a business to support them?"
(This is important... just because you've been in a business or you want to be in a business... is not enough of a reason for the business to exist.)
3) "What activities are least profitable -- that I can no longer afford to do?"
(Don't delude yourself. If an activity produces below average returns on your investment of time, money, energy, or resources -- dump it. Don't wait.)
4) "What are my EXACT costs each month -- and what can I do without?"
(You must know to the penny... no kidding. How can you possibly know what you're aiming for unless you have your exact monthly target in mind. No guessing allowed.)
5) "How can I sub-contract and hand off all work that doesn't directly produce a profit"
(You must overcome the loss of your help by not consuming your time with administrative tasks such as doing paperwork, sales tax, accounts receivable, accounts payable, etc. -- that can easily be done by other professionals and specialists "as needed.") ... And,
6) "How can I leverage my tangible and intangible assets to profit in different ways?"
(Here's where you can start to get creative -- and harness your business in ways you might not have considered before. We'll go into this a bit more, below.)

Chowhound
Comic Vine
GameFAQs
GameSpot
Giant Bomb
TechRepublic