For e-commerce sites, the answer is pretty simple: Become an advertising expert. (And be grateful that you're in a business where, if you're smart, advertising can yield a positive ROI.)
Things are trickier for information sites (a.k.a. "publishers" in the traditional meaning of the term). Sure, it helps to diversify, but--like it or not--organic referrals from the No. 1 search engine are likely to remain important for a long, long time.
As far as Google is concerned, I genuinely believe that its search gurus and engineers want to get things right eventually. (Authorship markup and Google's authorship-related patents may hint at positive things to come, at least for writer-publishers who add value to information instead of merely serving up facts that could just as easily be displayed in a box on a Google SERP.)