Katya Andresen has a great post on how to compete like a champ in a tough economy.
She expands on this in her interview on the Ask Without Fear Radio Show.
I've also written about how to recession proof your fundraising.
In a similar vein, Nancy Schwartz has a good post on standing out in an election year.
February 2014: The original link to my article went to a site that, six years since publishing my article, is now being used for selling electronic cigarettes! I've replaced that link with a link to a blog post I wrote in December 2008, six months after this post but definitely not promoting anything other than how to fundraise for your nonprofit!