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The coronavirus pandemic sent shockwaves across the global economy, devastating industries and challenging businesses in ways no one could have anticipated. While many companies struggled or folded, a few took the crisis as a chance to recalibrate, adapt, and emerge stronger. One such example comes from Travelier, a travel-tech company led by CEO Noam Toister. Despite the pandemicâs crippling effect on the travel industry, Toister saw opportunity where others saw only destruction. In a candid conversation with Wiserpay CEO Keren Smadja, the two entrepreneurs discussed the mindset that helped their companies not only survive but thrive during one of the most turbulent periods in history.
Turning a Crisis Into Opportunity: The Story of Travelier
When the COVID-19 pandemic hit, the travel sector faced an unprecedented blow, with travel restrictions and global lockdowns bringing the industry to a standstill. For Travelier, this was an immediate and severe setback, with their revenue plummeting from \$1 million a month to zero in just two weeks. The immediate response from many companies would have been to downsize or shut down. However, CEO Noam Toister had a different vision. Rather than succumb to the pressure, he chose to turn adversity into a strategic advantage.
Toister made the bold decision to acquire competitors during the pandemic, positioning Travelier to not only weather the storm but come out on top. This mindset of seeing every crisis as an opportunity to focus, optimize, and double down on core strengths became a cornerstone of Travelierâs resilience.
Keren Smadja, CEO of Wiserpay, shared similar insights during the discussion, especially about the importance of maintaining internal conviction in the face of external challenges. According to Smadja, the key to success lies in filtering out noise, recognizing valid opinions, and staying confident even when the road ahead seems uncertain.
What Undercode Says: A Deeper Look at Resilience and Strategic Thinking
The Growth+ initiative, which facilitated this conversation, aims to empower Israeli high-tech startups by providing mentorship from experienced entrepreneurs. Through these one-on-one meetings, entrepreneurs gain invaluable insights into leadership, creativity, and the nuances of building long-term businesses. Toister and Smadjaâs discussion highlights a key theme: resilience.
In the face of an economic downturn or crisis, many businesses tend to panic. The knee-jerk reaction is often to cut back, minimize risks, or lay off employees. However, the approach demonstrated by Travelier and Wiserpay emphasizes a more strategic mindset. Instead of retreating, these entrepreneurs found ways to move forward, looking for new opportunities amid the chaos. Toisterâs decision to acquire competitors during the pandemic not only secured Travelierâs survival but also allowed the company to scale quickly once the dust settled.
This principle of turning setbacks into opportunities is crucial for any entrepreneur. In a rapidly changing market, companies must be nimble, flexible, and able to adapt their business models in response to unforeseen events. The pandemic has taught many companies that survival is not just about holding onâit’s about finding ways to move forward even when the world seems to stop.
The conversation also underscored the importance of self-belief and clarity of vision. Keren Smadja spoke about the internal struggles entrepreneurs often face when fundraising or entering new markets, especially when others doubt their ability to succeed. For startups looking to expand into new regions, like the U.S. market, the lesson is clear: itâs not just about selling a product, but about framing the problem in a way that resonates with investors and customers alike.
What Smadja and Toister both highlight is that while external challenges may be unavoidable, a company’s internal mindset and strategic decisions are what ultimately determine its success or failure. In these tumultuous times, it’s not enough to react to market shiftsâyou must anticipate them, learn from your experiences, and evolve.
Fact Checker Results: Key Takeaways
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Travelierâs revenue drop to zero in two weeks was a direct result of COVID-19’s impact on the travel industry.
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Toister’s decision to acquire competitors during the pandemic was a bold strategy that helped the company grow.
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Prediction: Whatâs Next for Travelier and Wiserpay?
Looking ahead, the ability to pivot and adapt remains the defining factor for both Travelier and Wiserpayâs long-term success. As the global economy stabilizes, Travelierâs strategic acquisitions could position the company as a dominant force in the travel-tech space, provided they maintain their innovative mindset. Wiserpay, with its strong leadership and focus on communication and market fit, is poised for further growth as it expands into international markets.
As the world continues to recover from the pandemic, both companies could become shining examples of how to transform crises into opportunities. Whether in the travel-tech space or the payment solutions market, the lessons learned during these trying times will likely shape their futures in profound ways.
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Reported By: calcalistechcom_416907c4d4e2226ab4716771
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