Over at Best Biz Practices, there is a good article on Leading In Times Of Uncertainty. Another critical skill to include when leading in tough times is empathy. Having a true understanding of the plight of your team, customers and vendors shows you care enough to understand the challenges they face. This bonds together the team. Everyone feels united together for a common cause. Once common cause is acheived, the leader not only leads but also follows (see Leadership Includes Followership) what the team needs him to do.