Another thing to note, is that tank busters either never crit or always crit(depends on a specific TB). That's very important not only because crits are stronger than normal attacks, but also because they ignore parry and block, making cds like Raw Intuition or Sheltron useless against them, unless you combine them with Awareness(which can also be used alone if a non-crit version of that TB doesn't hit very hard).
Certain tank busters also hit the area around you, like a cleave does, so keep that in mind and don't stack with other players while they're coming. Then again other TBs are meant to be shared with your co-tank(like non-invulned Akh Morn in Shin EX).

There's some variety to tank busters and it affects how you deal with them, but content guides usually give you enough information to come up with a good method.