Jennifer Churchill, Institute of Leadership and Management:

In difficult times, managers cannot afford to neglect their own personal development and performance, so how can you ride out the bad times, but emerge from them stronger and wiser?

Think positive

Try not to be overly negative about your prospects and what might go wrong – focus instead on what you do well.

Be pleasant to be around

Empathy, a certain amount of optimism and a sense of humour, mean your co-workers are more likely to want you around. Negative body language can drain your colleagues’ enthusiasm.

Build relationships

You never know when a colleague or customer will have an idea that can help your organisation. 

Be adaptable

In tough economic times departments and organisations are often merged, so make sure you have a wide skillset that can be deployed elsewhere.

Understand your business

It sounds obvious, but many managers focus inwardly in tough times and forget that they need to be thinking strategically about the customer base and the service they are providing. 

Be visible

Nothing fuels the rumour mill like a lack of information, so make sure you walk the floor, talk to your staff and keep them up to date on the latest developments. 

Don’t panic

You have to act swiftly in a slowdown but don’t take knee-jerk decisions without thinking them through. Try and take considered action with a view to the long term. 

Nurture your networks

Keep in touch with your networks, whether face-to-face or online, as they’re an excellent source of inspiration and support. You might find a new supplier, a fresh revenue stream or a career opportunity.

Look after your customers

Keep in touch with them so you know what they need, be prepared to do a deal and keep marketing so both existing and potential customers know you’re out there. 

Keep an eye on costs

Scrupulously examine your costs and reduce any unnecessary expenditure, review your forecasts to make sure they’re still sound, credit check all major customers and collect income promptly.