When should you invest in technology?  When should you amp up your web presence?  When is the time to invest in hiring a “rock star” that can transform your business?  When should you spend, when should you save?

NOW just may be the time.  Recessions are typically not long (if we are indeed in or on the verge of one).  And there’s good news: recessions can actually help the well-prepared and the savvy.  By understanding what a recession is and what it isn’t, you can actually use a recession to insulate your business from the competition.  You can use a recession to finally decrease client work and launch that product you’ve talked about for years.  You can use a recession to force you (in a good way) to be leaner where possible and spend more where there’s a return.

“There are a few common themes to their success: They didn’t wait for Congress to decide on a stimulus package; they moved quickly to adjust their products and business plans to take advantage of more lucrative niches. Some diversified. Others identified new customers. Almost all cut behind-the-scenes costs. And the most aggressive, like Rutter, are investing in new technology, equipment, and personnel to seize market share from competitors large and small who entered the hard times poorly prepared. ‘Recessions are a period of opportunity,’ says Pearce. ‘During recessions, large companies abandon marginally profitable customers, and small businesses can get those customers. And recessions are healthy. They reward a history of fiscal responsibility. They discipline the economy for its excesses. And the great thing about recessions is, they end.’ “ – CNNMoney