I was having dinner with some friends before the holiday and we were trying to remember what old time comedy show featured a lead actor who kept threatening to "Have the Big One."

That led to talk about this big one -- the recession of 2009 -- and a new generation of management steering their agencies through it. We all agreed history has shown that from past recessions new winners have emerged and some stronger players stumbled.

Talking to colleagues who were winners coming out of the 1990 and 2001 recessions has highlighted some general management approaches that make as much sense today in the age of social media as they did in earlier tough times.

Look to the future. Keep an offensive mindset even if you reduce headcount. Plan the steps you'll want to take when things get better. What do you want your management team to look like in a year? What critical element is missing from your selling platform?

Less can be more. This is the time to right size the agency for future growth not just for immediate economic reasons. Do four offices in CA really make sense? Is it time to reconcile the social media offering?

Clients first and last. Of course! But management should revisit how the agency is working to build client loyalty and how they are leading from the front. What's the plan -- client by client -- to make this happen?

Be prepared to move quickly. As the economy rebounds, the agency ready to move aggressively will win.

That comedy show with "The Big One" by the way: Sanford & Son.