Before launching my company, an innovation consultancy that helps companies build solutions to grow value and capture new demand, I spent the formative part of my career as head of design for a global technology consulting firm where I helped founders, corporations and private equity firms regain their positioning after the Great Recession.

These companies did everything we’re all taught to do when the economy slows: They focused on essential operations, cut budgets, reduced staff and put on pause any innovation.

But, as economic conditions improved, anyone following this playbook suddenly had to work twice as hard to get back on track. The technology startup boom of the 2010s resulted in a flood of new entrants nipping at their heels. Competitors from outside the U.S. who had not gone through the same economic stress had expanded into their territory. Around conference tables, “disruption” became the new panic word.

Here are the lessons these companies learned that can help make managing through the next recession much easier.

Remember that innovation isn’t a lever. It’s a dial.

I observed many companies struggled coming out of the Great Recession because they had completely shut off the innovation pipeline. They laid off their research teams, cut budgets and halted all minimal viable product development. When that recession ended, they found themselves scrambling to regain market share, confront new competitors, secure funding and recruit lost talent to implement programs.

Innovation isn’t a lever that can suddenly turn back on when economic climates improve. Picture it like a dial that can turn up or down in response to market conditions.

Focus on incremental innovation.

The best way to stay on top of changing markets is by making smaller bets more often. Instead of attempting to leap-frog the competition through big redesigns or new product introductions, focus your innovation efforts on continuous improvements with lower risk and a higher likelihood for positive impact.

Have teams enhance features that address the customer feedback you’ve been collecting over time. It might not be as exciting as a new product launch, but these small steps can make substantial shifts in customer experience and loyalty—especially given the likelihood that your competition will remain stagnant.

You can internalize continuous incremental innovation by developing a discovery playbook that trains all team members to recognize opportunities to innovate through generative research and incoming feedback. Defining and documenting processes for ongoing innovation now can help inspire team members to keep looking for those small improvements that win over customers every day.

Prioritize the experience.

Brand loyalty plays a larger-than-usual role in consumer decision-making when pocketbooks get tight. So a recession is a particularly good time to focus on any product and process enhancements that prompt an emotional response.

Reduce customer temptation to switch to a lower-priced alternative by focusing innovation efforts on customer support, onboarding experiences, in-app support and communication, visual design enhancements and brand touchpoints. The more relational connections you can make, the more likely customers will retain your offerings when forced to make tough choices.

Experiment with pricing models.

When Netflix started floating the idea of an ad-supported low-cost subscription earlier this year, many thought it was the wrong move. But as we head into a recession, I see it as a brilliant strategy to keep customers who are tightening their belts. The new concept allows Netflix to retain customers who still want the service without resenting the fees they have to pay to enjoy it.

Many customers will have less spending power than usual over the upcoming year, so there’s a lot we can learn from the experiments streaming services are running with hybrid subscription plans. Now is not the time to be rigid about pricing strategies as customer retention risk grows. Consider new partnerships and revenue share opportunities that can make up (or even exceed) the margins of your existing models.

Know that facts change faster than expectations.

During a recession, the day-to-day facts of how you need to operate will change quickly. But expectations surrounding your business can take much longer to catch up. For innovation to work, you need to quickly catch hold of the “new normal” and what that means for your business and its mission.

As buyer behaviors shift, revisit your core assumptions. Are your customers still getting value from your product? Is a new gap or friction getting in the way of delivering on your brand promises to your customers? Continuous innovation will produce the data needed to make confident decisions in your product investments.

To navigate a recession, leaders at all levels must be nimble and potentially shed strategies and methods that have served them for years. Doubling down on entrenched viewpoints is a natural reaction to a chaotic economic climate, so be prepared to help your team absorb insights and navigate how they respond to them. Nothing will harm an innovation program more than when the insights are overwritten or discarded.

Remember: If you go into a recession unprepared for its end, you could find yourself in a situation where you’re left behind.