This paper analyzes the impact of crises on the business of the company and looks at the role of crisis management on the process of managing the crisis situation- from the identification of early signs of the crisis to the very carrying of the crisis and reducing the consequences of the crisis on the business of the company through the implementation of rules and procedures for managing crisis situations. The theoretical part of the paper presents the types of crises according to the occurrence, early warning signals of the occurrence of a crisis and crisis management. The specifics of crises in individual stages of development of the company according to the division of Ichak Adizes and the importance of the four roles of management for the organization to be short-term and long-term effective are explained. In the empirical research through the experiences of entrepreneurs who have encountered crisis situations in business, answers to the questions of coping with the crisis, managerial styles they have and advice for young entrepreneurs in dealing with crisis situations were collected.