The key is to proactively juggle the need to weather the storm while also considering the big picture. Your practice will benefit from these changes even if the recession never materializes.

The strategic plan that would work for your practice depends on the market you serve, the profession you are in, the size of your practice, the diversity of your areas of practice as well as many other factors.

That said, these are the recession-proofing options we recommend you consider as you formulate your recession-proofing plan:

Develop a branding strategy. A branding strategy that authentically communicates the unique value offered by your practice will go a long way towards recession-proofing your practice. It will enable clients and patients to conclude that that there is no substitute for your professional services.

Diversify. Want a recession-proof business? posted on Small Business Solutions makes the point about the benefits of diversification when faced with a looming recession. At first glance this suggestion appears to be at odds with the “focus, focus, focus” preaching’s of professional marketers. In fact, if carefully crafted, a diversification strategy can actually compliment and build on the focus your practice has already established.

Maximize profit. Quick Tips: How to Recession-Proof Your Business posted on SmartMoney’s Small Business Site speaks to the opportunity to maximize profitability by maintaining price. In the realm of professionals, this advice applies to the professions that generate new business with project proposals including architects, landscape architects, interior designers and engineers. The article also points out the long-term consequences of lowering prices including dilution of the brand and establishment of a precedent, which you may not wish to repeat but clients may come to expect.

Cut costs. A recession may also be a good time to consider cost-cutting, as long as the exercise is focused on non-value added costs.

Develop your team. Recession-Proof Your Business posted on Business Week starts by making a few points that are intuitive such as keeping in close touch with your clients and planning strategies to develop new clients. It then goes on to share a clever insight about team building that is less intuitive:

Spend on hiring. Tom Gimbel, CEO of Chicago staffing and executive search firm The LaSalle Network, says business owners should hire—not fire—during a recession. “Most of the time, economic downturns are short-lived,” he notes, a powerful incentive to keep the bigger picture of long-term growth in sight. “It’s easier to invest training time for new hires during slower growth periods. Employees that are fired during a recession will have to be re-hired—which costs companies a lot more money in the long run,” he says. Another strategy is to look around for people who have been laid off from other companies and pick up some available talent. “This is a great time to find top performers who will help bring your company to the next level,” he says.

Develop a marketing strategy. If you don’t already have a marketing strategy use your downtime as an opportunity to develop one. If you already have one maintain it through this period despite the crunch on cash flow. The Business Week article referenced above makes a strong point about how the first thing to go in a cost cutting period is the marketing budget and that this is a mistake, as it can only make things worse.

Listen to your clients as well as your team. Recession proof your business posted on Blog Business World continues with this line of creatively thinking your way out of a recession:

A recession proof company is a creative company. One of the hallmarks of a creative company is a willingness to listen to everyone within the organization and pay close attention to their ideas and suggestions… A recession proof company listens to its customers… Don’t take their suggestions lightly. They may be offering you an entirely new and profitable product and service line… A recession is no time for take it or leave it marketing practices…

Manage your debt. More good advice from the Blog Business World article above:

A recession proof company lowers its debt levels. Keep only productive debt on the books, and if you must expand, try do so organically from company cash flow. Being paid off means lasting through tough times…