For the last few months, the economy has felt like it’s in a downturn in my area. With fuel prices high and tariffs driving up both wholesale and retail costs, people are holding off on larger purchases. I talk with a lot of retailers, and we’re seeing the same thing for the most part: Foot traffic and purchases are down in our stores, and the customers who are shopping are looking for less expensive options for home heating.

That shift has even changed the framework we use to sell our products. For years, we could point customers to our products as a way to save money on their heating bills. Now, we have to focus more on energy resiliency when the power is out. The tariffs have been hard on everyone in the chain—manufacturers, distributors, retailers, and the end consumer—and the industry as a whole needs to figure out how to navigate them.

So how do we survive, and even thrive, during hard times like these? A few things come to my mind.

First, invest in yourself. For example, I’ve been trying to use AI every day to get a feel for what it can do for our store, because AI isn’t going away—it’s only going to get more prevalent. Alongside that, I’ve been learning the skills to be a better leader for our company. Hard times are exactly when that kind of investment pays off.

Second, take a hard look at your website. Is it making it easy for people to shop? With fuel prices high, the dealer whose website walks customers through the process of buying and installing our products is the one who’s going to win.

Third, lean into service. When prices on goods are high, people tend to fix what they have. And with travel being so expensive, more people are spending time at home. We have to capitalize on that. Service is a really profitable business, and the companies with service crews that continually bring in work and profit are the ones that will win.

Finally—and maybe most importantly—all of us need to invest in government affairs and get involved in our region’s HPBA affiliate. Manufacturers can’t be the only voices investing in the battle against regulations. Some retailers do an amazing job handling legislation and getting their voices heard, but way too many sit on the sideline and assume someone else will be the advocate for our industry. That has to stop. Every one of us needs to play a part and take up the fight—because if we don’t, our businesses may struggle to stay relevant.

These are hard times. But the dealers who invest in their businesses, adapt how they sell, lean into service, and refuse to sit on the sidelines are the ones who will survive—and even thrive—in the years to come.