The Coronavirus pandemic is the biggest existential threat of our generation (so far). The global economy has tanked, unemployment is rising, oil prices have reached all-time lows, and uncertainty is thick in the air.
Is there any way out this? This must be the apocalypse, the end of the world, right?
The truth is, every crisis comes with two things — problems and opportunities. The sad thing is most people are too focused on and handicapped by fear to notice the opportunities.
In this episode, John-Paul Iwuoha shares the universal principles that define every crisis and how entrepreneurs can confront the widespread fear and panic, and step aside from the crowd to see what everyone else is missing. He shares interesting strategies for identifying the unique opportunities that are usually hidden in times of crisis.
Important points in this episode:
1:40: The two things all crisis in human history have in common
3:20: The Universal philosophy that all crises have in common
5:50: The role and importance of fear during a crisis
10:45: How to use fear and panic to your advantage in a crisis
16:45: Specific examples of business opportunities to exploit during any crisis
21:07: The important role of Visionary-in-Chief that every entrepreneur needs to play during a crisis
25:20: The big danger of not exploiting business opportunities, even if you fail.
33:10: Why you should confront your fears and the interesting thing you will find the moment you do.