My First Million
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Back to Beliefs
Crisis Creates Wealth for the Prepared
Evidence
Multiple entrepreneurs made millions during COVID by quickly pivoting to PPE, government contracts available with premium pricing
Implication
Entrepreneurs should maintain operational flexibility and crisis response capabilities as core competitive advantage
Counter Belief
Crisis wealth is mostly luck-based and unsustainable, with most quick pivots failing when markets normalize
Example Application
Manufacturing company builds 'crisis response team' with pre-established supplier relationships to pivot production within 30 days of any major disruption