I created this poll on Linkedin 8 months ago and I wonder if the results would be different now?
In a recession what do you think companies should focus on?
* Marketing to new potentials
* Marketing to existing clients
* Staff training & development
* Cost reductions
* Product innovation & R&D
Interesting how the top 3 were investment led focus and the lowest was to focus on cost reductions? Please have your say as I am keen to increase the segment size and also if we view what to do differently 8 months on.

You are welcome to have your vote and make a comment here: http://polls.linkedin.com/poll-results/21302/twkss
Here are some of the feedback comments:
Looks like two of us favor investment. Check out Booz’ paper – Recession Research. Financially strong companies invest, weak ones cut costs..
By Elise Walton Working Group Leader – Corporate Center Design; The Conference Board
In the bad times prepare for the good times. Need to be reasonable about spending on innovation but old, unprofitable products need to be phased out and new innovative products introduced.
By Ed Hemminger CIO Ontario County NY; CEO Finger Lakes Regional Telecom Development Corp; CTO Ontario County Economic Development
Almost everybody reacts to the preservation instinct during recession, stops running and sits down on their hands waiting for the skies to clear and for them to start understanding what is going on… almost everybody… a few smart ones keep running and take on the clients neglected by the others
By Clement DAN Managing Partner at M27 BusinessMachine – Money x Mergers x Markets
Look for branches of your existing market share- yet untouched.
By William R. Dolbier PI Law Practice Technical Strategist at ReNew Strategics
Cutting just makes the economy worse. Keep moving forward! Expand on what you do best! if you are a manufacturer then design/invent; if you are in the service area survey your customers and start delivering a better service; distribution or sales then survey and find that untapped area, work with your old lost customers and get them back.
By Marie Johnson CEO at IzzyLou Studios
Coming from an Information Technology perspective, tough economic climates like now call for business owners and managers to be more aware of their environments and efficient with their processes and budgets. Natural instinct is to self-preserve: cut all expenses, take no risks, wait things out. If the majority followed these instincts the markets would collapse and we cannot let this happen. Instead look for solutions that can help your organization be more nimble and carry you through these times of uncertainty. Some solutions to consider are: Virtualization, Video Conferencing, and Secure Remote Access for Telecommuters.
By Ray Sheley Sr. Vice President, Partner at Info Advantage Inc.
It really all depends on how healthy your business is at the start, the key is to make sure you are not running in the “suicide zone”. Build in maximum agility; do not make knee jerk decisions; have a strong, alert management process and clear early indicators. Investing in the future of course is important for any business in any economic climate. But you can only do this from a strong base now – spending money blindly is stupid at any time. First priority – get strong cash generating business now so that you have means to invest in the future!
By Sue Baker Financial Management Specialist