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 crisis
• Creative problem-solving to manage costs and resources
• Mental health strategies for entrepreneurs under pressure

Links from this episode:

• Get to know more about Michael Dermer: https://www.linkedin.com/in/michaeldermer
• Learn more about The Lonely Entrepreneur: https://lonelyentrepreneur.com
• Subscribe to The Lonely Entrepreneur YouTube Channel: https://www.youtube.com/@LonelyEntrepreneur
• Follow The Lonely Entrepreneur on Instagram - https://www.instagram.com/the_lonely_entrepreneur/?hl=en
• Learn more about Irresistible Company: https://www.irresistible-company.com

Subscribe to the Podcast:

• YouTube:https://www.youtube.com/channel/UC_9bUTMg9jfqa64r9Nn-e-w
• Spotify: https://open.spotify.com/show/3i7QBY1kuqMegX3MaKZmvC
• Apple Podcasts: https://podcasts.apple.com/us/podcast/the-irresistible

Follow us on Social Media:

• Instagram: https://instagram.com/tiepodcast_?utm_source=qr
• Facebook: https://www.facebook.com/profile.php?id=100090429932666
• TikTok: https://www.tiktok.com/@t.i.e_podcast?is_from_webapp=1&sender_device=pc
• Twitter: https://twitter.com/TIEPodcast_
• LinkedIn: https://www.linkedin.com/company/the-irresistible-company

==== Time Stamps ====

00:00 - Introduction

01:22 - About Michael Dermer

04:24 - 2008 crisis devastated us; Fortune 500 bankrupt

09:42 - Negotiated gift card purchase at significant discount

11:29 - Channel panic into planning for success

16:47 - Consider pivoting if there’s no unique value

19:42 - Sleep prioritized to maintain peak performance

23:01 - Experience elevated them beyond their previous selves

26:13 - Helping entrepreneurs channel passion into success

26:58 - Building platform for entrepreneurs' organized resources access

30:17 - One-stop platform for entrepreneurs' learning and support