It is no secret that library budgets are in a downward spiral like the rest of the economy. The recent annual budget survey by the "Library Journal" indicates that per capita funding for libraries will decline 1.6%, and total library budgets will be reduced by 2.6% in FY 2010. Librarians are all too familiar with this bad news, and some of them have been advised to employ defensive tactics. This article presents six strategies that will help librarians make informed decisions, be proactive, position themselves and their library ahead of the curve, and prepare for the opportunities that will come their way. The six preparedness strategies are: (1) Have one's library's strategic plan in place; (2) Know one's community; (3) Partner, collaborate, and participate; (4) Follow local funding trends; (5) Stay informed about new funding opportunities; and (6) Keep learning about grants and proposal writing.