Batten down the hatches
Prepare for trouble. This term originated in the navy, where it signified preparing for a storm by fastening down canvas over doorways and hatches (openings) with strips of wood called battens. [Late 1800s]
There is plenty of evidence to be optimistic that, if the best practices deliver best practice, they will survive and prosper through the current economic cycle.
(p.s. can we please stop using the word "crisis" and replace it with "cycle" - that's what it is)
The best will get better, just as they did in 1973, 1979, 1987, 1992, 2008 and 2020.
Best practice, however, doesn't just mean working smarter AND harder than everybody else.
It also means an eagle-eye on those "profit holes" - the little leakages of inefficiency that allow much needed cash to drip, drip, drip out of your business.
Fact - you are going to have to pay your team higher wages.
Fact - you are going to have to increase your prices.
Fact - it's time to run a very tight ship.