Get All Access for $5/mo

Entrepreneurs Are Prepared for Crisis, Whether They Know It or Not You've always been a problem solver. This time is no different.

By Jason Feifer

Nigel Parry

I talk to entrepreneurs every day, and I keep hearing the same things. They're making plans. They're revising, adjusting and striving. It isn't easy; it can feel impossible. Many are making emotionally wrenching decisions, and struggling financially. But they are refusing to give up. They know that this isn't the end. They have new ideas and new energy, even during the most draining days of their lives.

This has led me to ask a question: How is it possible? How are entrepreneurs so resilient?

Then I came to an answer. It crystallized while I was working with a writer named David Sax. The pandemic destroyed a lot of his business, and struck just as he was about to release a book he'd spent two years on. In an essay for us, he wrote this:

"I had never felt so powerless in my life. For entrepreneurs — all of us who work for ourselves in some capacity — this can feel like the moment we're least prepared for. Most entrepreneurs are underfunded, unsupported and far too emotionally tied to our businesses to face this alone.

But then I realized something. This is also the moment we're most prepared for — because we have always been self-directed and forced to survive by being resourceful. We can work from home with children dangling off our arms, in sweatpants, and find opportunity where others see none."


That's exactly it. Entrepreneurs always knew that bad things would happen, but that didn't stop them from pursuing their dreams.

This sounds simple, but it's not. It's a profound distinction. Many people are afraid of failure, so they never take risks. Many others think they're invincible, so they make reckless decisions. But entrepreneurs are different. Entrepreneurs understand that their road is rocky. They accepted — a long, long time ago! — that nothing good comes easy. It's almost like an emotional immunization. If you know bad things will come, then bad things cannot overwhelm you.

Think of it:

You know that failure is possible but you're not a pessimist.

You know that danger is lurking but you're not risk-averse.

You know that the world is uncontrollable but you'll control what you can.

You know you have to lead but that you also have to serve.

You know you're a visionary but that you also have limitations.

You confidently say, "I can do that," even when you have absolutely no idea how to do that. Doesn't matter! You know you can figure it out.

Entrepreneurship has always required a little craziness, and a lot of contradictions. And now, during a global crisis, as our lives and businesses are upended, these contradictions are the things that will save us.

So what next?

Here's my suggestion: As you face today's massive problems, put them into context for yourself. You are a problem solver. Your job, more than anything else, is to solve problems. It always has been. Sure, today's problems may be bigger and more complex than yesterday's problems, but they're still just problems. They're not magical spells; they're not otherworldly beings. They are the thing you prepared your entire career for — a series of challenges that require a series of solutions. Your tool kit is decisive action, creative thinking, open communication and a relentless focus on providing value to others.

You've done it before. You've done it many times before. And now, as you face this massive challenge, you can say, "I can do that."

Even when you have absolutely no idea how to do that.

Doesn't matter! You know you can figure it out.

Want more insights like this? Sign up for my monthly newsletter, The Feifer Five. You can also contact me directly on Instagram or LinkedIn

Jason Feifer

Entrepreneur Staff

Editor in Chief

Jason Feifer is the editor in chief of Entrepreneur magazine and host of the podcast Problem Solvers. Outside of Entrepreneur, he is the author of the book Build For Tomorrow, which helps readers find new opportunities in times of change, and co-hosts the podcast Help Wanted, where he helps solve listeners' work problems. He also writes a newsletter called One Thing Better, which each week gives you one better way to build a career or company you love.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Branding

ChatGPT is Becoming More Human-Like. Here's How The Tool is Getting Smarter at Replicating Your Voice, Brand and Personality.

AI can be instrumental in building your brand and boosting awareness, but the right approach is critical. A custom GPT delivers tailored collateral based on your ethos, personality and unique positioning factors.

Business News

Apple Reportedly Isn't Paying OpenAI to Use ChatGPT in iPhones

The next big iPhone update brings ChatGPT directly to Apple devices.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business News

Is the AI Industry Consolidating? Hugging Face CEO Says More AI Entrepreneurs Are Looking to Be Acquired

Clément Delangue, the CEO of Hugging Face, a $4.5 billion startup, says he gets at least 10 acquisition requests a week and it's "increased quite a lot."

Growing a Business

He Immigrated to the U.S. and Got a Job at McDonald's — Then His Aversion to Being 'Too Comfortable' Led to a Fast-Growing Company That's Hard to Miss

Voyo Popovic launched his moving and storage company in 2018 — and he's been innovating in the industry ever since.

Business News

Sony Pictures Entertainment Purchases Struggling, Cult-Favorite Movie Theater Chain

Alamo Drafthouse originally emerged from bankruptcy in June 2021.