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wading through a business downturn is to do sowithout a strategy. Business as usual doesn't cut it when markets, consumers or other conditions beyond your control turn against you. The old saw "what doesn't kill you makes you stronger" is little consolation when business is slow.

Follow these steps to stay up in down times:

. Focus on your core. Rein in investment in peripheral profit centers and invest in what your business does best. Always assume your core is under-performing and you'll be right most of the time. Aggressively market to current customers. In down times one of the best ways to gain market share is to retain the customers you already have and gain their referrals.

. Don't kill your capacity to produce. The way to improve your bottom line is to maintain a tighter inventory, put vendor products/services up for bid, and improve receivables and other cash flow factors. However, resist the shortsighted strategy of cutting costs that contribute to the development of the your most valuable asset: your people. Training builds up your only sustainable competitive edge and increases your production capacity. If you reduce it. you contribute to your own demise. Training is not a luxury or a cost. It's an investment. When times turn down, take the opportunity to train up a notch.

Reduce entitlements. Reward performance. Terminate the weakest links. If you make personnel cuts, remember that tenure and credentials don't substitute for results. Reward and support those who perform. Resist the temptation to bond with yesterday's heroes for old time's sake. Fall into this trap and you send a cor-