The Economy, the Headlines, and the Entrepreneur’s Mindset
We’re living through a period of remarkable uncertainty. That’s when great entrepreneurs thrive.
By Ami Kassar
Last week’s headlines were filled with warnings of a slowing job market. The June employment numbers came in lower than expected, and the previous months’ numbers were revised downward. In addition, inflation ticked up again, and a slew of new tariffs were announced. And now economists are revisiting their forecasts, recalibrating expectations, and wondering aloud: Is this the beginning of a true economic slowdown?
It might be. The data matter. But what I find more interesting is what I’m not seeing.
At MultiFunding, we have dozens of loans in process. Entrepreneurs are acquiring businesses, purchasing buildings, investing in equipment, and hiring talent. We’re not seeing hesitation. We’re not seeing a pullback. Everyone we’re working with is pushing forward. They’re not frozen by fear.
It’s a powerful reminder: so much of entrepreneurship comes down to mindset.
Years ago, I had a planning session scheduled with an entrepreneur I’d been working with closely. But the night before our meeting, Russia invaded Ukraine. My client called and said, “I think we should cancel. I’m not sure there’s going to be a world tomorrow.”
I understood where he was coming from. The invasion was shocking and unsettling. But the world didn’t end. It kept turning. That experience stuck with me because if you try to wait for a moment when the world isn’t uncertain, you’ll be waiting forever.
Some entrepreneurs are born risk takers. The great ones don’t ignore risk, but they also don’t get paralyzed by it. They acknowledge it, plan for it, and keep moving.
Irrespective of mindset, I think there is another dynamic at play: political perspective. Entrepreneurs who believe in the direction of the current administration feel emboldened right now. Those who are unhappy with our current politics are more inclined to pause or wait for the “all clear”—a moment that for them is unlikely to come in the next three and a half years. And in some respects, these groups counteract each other.
Of course, there’s a sliver of folks in the middle who may shift their behavior based on specific news, but in my experience, they’re not going to move the needle. Most entrepreneurs aren’t reacting to economic data—they’re responding to their belief systems. And that belief system can either serve as fuel or as a brake.
So yes, pay attention to the data. But also pay attention to your mindset. Regardless of the headlines, what I continue to see every day is this: many entrepreneurs are still moving forward.
Ami Kassar is CEO of MultiFunding.
