Recession? Maybe. So what do you do?

With its usual way of dramatizing the news, the media is all over the "recession story". At the risk of appearing to be piling on (and no, I don't think bloggers are journalists), I can't resist commenting on the topic.

Technically, it takes two quarters of economic data to determine if there's a recession, and the economists don't have that data yet. On the spectrum of economic slow-down characteristics, it isn't looking pretty right now, but it's not disastrous. I've been through several recessions; some people suffer more hardships than others, but recessions do pass, and people and economies recover.  I was one of thousands of Silicon Valley marketers laid off in 2001. Then, I went on to start my own successful business.

Several posts from bloggers I follow are worth passing on to you for their tips on what, if anything, you should do differently in a recession:

Experienced Employees Can Help You Weather the Recession - Fellow AllBusiness.com blogger, Glenn Ross, links to a Business Week article, 10 Worst Innovation Mistakes in a Recession.

Why I Am Not Worried About Recession - by Anita Campbell, who says, "Don't let recession fears spook you."

The R Word and Economic Woes -- The World Will Go On - by Joel Libava, who notes that franchising goes up when the economy slows down.

In the end, my own advice is simple:  Reduce debt if you can for a while, or at least don't take on new debt. And don't make cost cuts that will jeopardize relationships with your customers.