I have been pondering the economy and it appears there are some legitimate concerns and it certainly appears there is a slow-down in spending. We all remember what happened earlier this decade and being the pro-active Product Managers that we are I assume you are planning for this potential downturn.

Assume for a minute that things start to slide, revenues dip and you hear rumours of budget cuts. How do you ensure that your product is not one of the ones that gets cut or put on hold? I would suggest you start to track, or at least update, your revenue and expense figures and be able to show growth and control.

Review and update your business plan with highlights to all risks and plans to address those risks. Update your roadmap.

Lastly, when cuts are announced generally teams are asked to move VERY quickly so be prepared to justify your product's existence using facts and a clear plan to achieve SMART goals. Lastly, start promoting your product internally so that people are VERY aware of the value your product brings to the market. Be your product's champion! No one else will.

P.S. This is just general good practice but the pressure sure seems like it is starting to tighten so it might not hurt to be prepared.