6 Steps I Used to Escape Debt and Turn Crisis Into a Competitive Edge Feeling afraid is natural. But feeling afraid every day? That's not sustainable, especially for entrepreneurs.

In 2000, I was head of the first fintech in Mexico, Finanzas Web. A company so innovative that we survived the market collapse when the dot-com bubble burst because we had capital reserves and a clear execution plan.

In 2008, the Great Recession hit, and I was in the eye of the hurricane with a business specializing in mortgages for the Hispanic market. When the bank cut our lending overnight, I lost the company and was left with $1 million in personal debt.

Third time's the charm, right? In 2020, amid COVID, my current company, Growth Institute, was prepared. We doubled revenue and made the Inc. 5000 list for the third consecutive year. We came out stronger than ever.

Same CEO. Same world. Different outcomes.

So, what changed? Better systems, deeper awareness and a disciplined mindset.

Related: Fear Can Hold Us Back – But It Can Also Drive Us Forward. Here's How to Turn Fear Into Fuel.

Step 1: Name the fear

The first step in managing fear is naming it. Psychologists Justin Milano and Dan Cordaro emphasize that high-performing entrepreneurs don't deny fear — they study it. When fear arises, don't suppress it. Ask: What's the fear? Where do I feel it in my body? Is it rooted in a real threat or in a future that may never happen?

Anxiety often stems from mental loops rather than concrete facts. For instance: "What if we run out of cash?" or "What if the product fails?" These fears narrow your thinking, reducing your ability to problem-solve. When you label the fear, you reclaim power over it.

Step 2: Shift the lens

Fear signals potential loss. But what if it's pointing to opportunity?

Milano and Cordaro outline three common fear mindsets:

• Scarcity: Believing there's never enough.
• Aversion: Resisting reality as it is.
• Unworthiness: Feeling inadequate.

The moment you shift from "What might I lose?" to "What could I gain?" you take back control.

Related: 3 Steps to Overcome the Fear of Uncertainty and Daily Stress

Step 3: Build systems before the storm

Jim Collins coined the term Return on Luck, which he defines as the ability to turn unexpected events—good or bad — into momentum for scaling. And here's the key insight: successful and unsuccessful companies receive the same amount of luck. The difference is in what they do with it.

How to increase your Return on Luck:

• Stay alert: Opportunities rarely look like opportunities at first.
• Act with discipline: Minimize emotions. Rely on data and strategy.
• Learn fast: Every crisis brings a lesson. Are you listening?
• Be consistent: Don't change course with every breeze. Discipline sets you free.

ROL allowed my companies to collapse or scale, depending on our preparedness. So ask yourself:

• Do we have a system for cash flow management?
• Do we have KPIs we monitor weekly?
• Can our team execute without micromanagement?

Luck is unpredictable — but your response to it isn't. Adopting a disciplined mindset can turn uncertainty into growth and lasting success. Train for chaos before it arrives.

Step 4: Tighten your execution disciplines

In times of uncertainty, operational discipline becomes your safety net. Think of your business like a car. Without a dashboard — clear KPIs, priorities and communication rhythms — you're driving blind.

Go back to the basics:

• Define your top priorities.
• Hold daily and weekly huddles to maintain alignment.
• Make your metrics visible and reviewed consistently.

Beyond the mechanics, reinforce your company's strategy and values in every meeting. Be vocal. Be repetitive. Leadership means becoming a constant messenger of your vision.

And don't just trust your gut. Use data. In uncertain markets, instinct can be misleading. Stay alert to trends, benchmark your performance, and course-correct early.

Finally, empower your team. Give clear direction, then step back. Agility comes from confident, decentralized execution, not from micromanagement.

Related: Leading With Transparency in Times of Uncertainty

Step 5. Lead with transparency and strategy

In crisis, communication becomes your most powerful tool. It's not enough to have a strategy. You must communicate it clearly and consistently.

That means:

• Articulating your vision in simple, repeatable terms
• Listening to your team's concerns without judgment
• Staying transparent during tough calls

Leadership is not about having all the answers but showing the path forward.

Step 6: Negotiate like a pro

During economic instability, one of the most overlooked levers is your supplier relationships. While most CEOs rush to cut headcount or pause marketing, the smart ones call their vendors.

Consider this approach:

"Like you, we're feeling the pressure. Let's revisit our agreement and find a win-win."

You might be surprised how flexible suppliers become when the relationship is strong. Here are quick wins to explore:

• Extended payment terms
• Lower minimum commitments
• Locked-in pricing for more extended periods

Proactive negotiation in times of uncertainty isn't a risk. It's strategic leadership.

You can't eliminate fear, but you can lead through it

Fear doesn't disappear as you scale; it evolves. However, so can your strategies and resilience. The best entrepreneurs don't wait for confidence to act. They act their way into confidence.

As someone who's experienced three major crises and emerged stronger on the other side, my advice is this: Don't try to outrun fear. Make it your ally.