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.

Side Hustle

The Side Hustle He Started in His College Apartment Turned Into a $70,000-a-Month Income Stream — Then Earned Nearly $2 Million Last Year

Kyle Morrand and his college roommates loved playing retro video games — and the pastime would help launch his career.

Growing a Business

How Visionary Leaders Transform Curiosity Into Groundbreaking Ideas

Lee Brian Schrager, founder of the South Beach Wine & Food Festival, discusses the spark that launched FoodieCon, his best practices for running popular food events, and why all business owners need to adapt to social media trends.

Business News

Homeowners in These 10 States Pay the Most in 'Hidden' Upkeep Costs

Hidden home costs pile on top of mortgage payments.

Data & Recovery

Get $60 off This Portable VPN Travel Router

Why keep paying for a VPN service when you can have a tiny, lightweight piece of hardware that can provide you with a lifetime of maximum VPN protection?

Money & Finance

Avoid These 10 Mistakes Entrepreneurs Make with Money

Despite the challenging statistic that only 5% of startups survive beyond five years, common financial pitfalls often contribute to their failure. Through personal observation, I've identified the prevalent financial mistakes made by entrepreneurs.

Growing a Business

5 Books to Help You Motivate, Unify and Build Perspective

In a post-Covid world, check out these must-read books to help build a more resilient organization, create a modern work culture and maintain a powerful growth mindset.