Show notes
Being an entrepreneur is tough enough, but what happens when everything you’ve built is at risk?I’m joined by Michael Dermer, the founder and CEO of The Lonely Entrepreneur and a recognized leader in the healthcare rewards space. Back in 2008, Michael faced a monumental challenge when the financial crisis nearly destroyed his company overnight. In our conversation, he shares the creative solutions, resilience, and strategies that helped him navigate those tough times. We also discuss the emotional toll of entrepreneurship and the importance of finding ways to stay grounded under pressure.Tune in to hear his strategies and insights for surviving the toughest of times.Specifically, this episode highlights the following themes:How to structure a survival plan during a business crisisCreative problem-solving to manage costs and resourcesMental health strategies for entrepreneurs under pressureLinks from this episode:Get to know more about Michael Dermer: https://www.linkedin.com/in/michaeldermerLearn more about The Lonely Entrepreneur: https://lonelyentrepreneur.comSubscribe to The Lonely Entrepreneur YouTube Channel: https://www.youtube.com/@LonelyEntrepreneurFollow The Lonely Entrepreneur on Instagram - https://www.instagram.com/the_lonely_entrepreneur/?hl=enLearn more about Irresistible Company: https://www.irresistible-company.comSubscribe to the Podcast:YouTube:https://www.youtube.com/channel/UC_9bUTMg9jfqa64r9Nn-e-wSpotify: https://open.spotify.com/show/3i7QBY1kuqMegX3MaKZmvCApple Podcasts: https://podcasts.apple.com/us/podcast/the-irresistibleFollow us on Social Media:Instagram: https://instagram.com/tiepodcast_?utm_source=qrFacebook: https://www.facebook.com/profile.php?id=100090429932666TikTok: https://www.tiktok.com/@t.i.e_podcast?is_from_webapp=1&sender_device=pcTwitter: https://twitter.com/TIEPodcast_LinkedIn: https://www.linkedin.com/company/the-irresistible-company==== Time Stamps ====00:00 - Introduction01:22 - About Michael Dermer04:24 - 2008 crisis devastated us; Fortune 500 bankrupt09:42 - Negotiated gift card purchase at significant discount11:29 - Channel panic into planning for success16:47 - Consider pivoting if there’s no unique value19:42 - Sleep prioritized to maintain peak performance23:01 - Experience elevated them beyond their previous selves26:13 - Helping entrepreneurs channel passion into success26:58 - Building platform for entrepreneurs' organized resources access30:17 - One-stop platform for entrepreneurs' learning and support