Fortune Magazine has a good article by Ram Charan mistitled, "My (Recovery) Playbook." It's actually more about bottom of the recession business strategy, and though it's a great article, it comes a bit too late for most companies. The time to start implementing this strategy was six to 12 months ago.
Nonetheless, I like it because it's so much like the last section of Chapter 7 of Businomics, "Taking Advantage of Recessions." If I write a revised version, I'll crib some material from Charan–but what's in the book now, I think, is pretty darn good.
A great idea from Charan:
Narrow your focus to the best parts of your business, closing or selling segments that drain cash while offering little potential. I noted in my book that there are great opportunities in a recession for those who have cash. Charan adds the important twist that multi-segment companies can sell off their dogs to fund their stars. I should have thought of that.
However, the economy has just started (probably) turning up. It's time to put the recession strategy behind us and concentrate on the recovery strategy. What exactly is that? Stay tuned.