It's key that a significant segment of commercial premium is driven by sales and payroll. Barring a miraculous turn of events, both metrics will remain soft into 2010 and beyond. Retail sales are gloomy, the auto industry is iffy and construction in many sectors has come to a halt. Broad economic uncertainty and shortage of capital will continue to place downward pressure on your revenue base.

The challenge is to push out as much profit margin as possible from your existing platform. Embrace process and technology now–the conundrum is that you can rarely manage down expenses in lockstep with falling revenue.

Even so, your near-term attention should remain on staffing and payroll. If you don't have a properly constructed salary administration policy and producer profitability model in place, you won't be able to manage your largest single expense–it will be managing you.

Now, a word of caution: A miserly siege mentality can ruin employee morale and client relations. If you haven't embraced an inclusive management style, this may be a good time to start by having an all-company, all-hands meeting. Then hold periodic “fireside chats” to keep everyone in the loop. The consequences of your actions? Your firm ultimately will be stronger and far better prepared to navigate the future.