"My industry is down 40% and no one is buying?"

We need to stop and think when we hear things like, "My industry is down 40% and no one is buying anything."

That statement makes no sense, it does, however, cry out for pity for the person saying it--which may be their intent. If that's not the intent, then consider this:

The industry may be down 40%, but that means 60% of the customers are still
buying.

Most of your competitors are either laying low or in the process of cutting their services or staff--that means an opportunity for you to gain market share.

If you could go from 3% to 5% market share in your industry, you'll be able to make up for much of the industry downturn. There will be less business to go around, but the aggressive, focused company can benefit in the long run and minimize the damage in the short term.