It’s no secret that COVID-19 has pushed businesses into a new phase of financial strain. Experts anticipate that the economic impacts of the pandemic will be felt for years to come. Between the immediacy of public health concerns, supply chain disruptions, and strained cash flows, what’s an entrepreneur or startup to do? Is there still a market for your product or service? And what hope is there to find investors to fund it, given the current circumstances?
Just over a decade ago, Michael Dermer asked himself similar questions.
When the financial crisis of 2008 hit, the health rewards company that he had spent ten years building was pushed to the brink of failure within ten days. In that do or die moment, Dermer made some critical decisions that not only saved his business but ultimately led to its successful sale and recognition as an industry pioneer.