I’m old enough not to take a major recession lightly; on the other hand, I’ve seen them before, and I’m getting a feel for the market’s cyclical upturns and downturns.

I think it’s time for a new approach: keep in mind that the economy has its ups and downs, and by investing wisely, reduce the damage a downturn can do to your business or career.

In my latest New York Times Syndicate blog I offer my business advice on how to survive and thrive in a downturn.

Go to BusinessDay to read the full article.