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Mention Stoicism and chances are people would think you are referring to the noun form of the commonly know adjective. Tell them that Stoicism is an ancient philosophy that continues to have relevancy for our modern world, and I’m guessing you might solicit a frown or a loud, sceptical, “WHAT?”
This is not to imply that people are ignorant. Stoicism was popular during Roman times, but with the fall of the Roman Empire, it went downhill too. Fundamentals beliefs of Stoicism also clashed with another rising school of belief, i.e. Christianity. The starkest example of this being the nature of God. Religious and spiritual aspects aside, Stoicism has plenty of useful guidelines for today’s world, particularly when it comes to handling business disasters. To begin with, it could be considered a reality check. One that places you on the correct footing, then presents the right path to move forth on.
Stoicism for Business Fails
Life sucks. Bad things happen to the best of us, the most capable of us. The Stoic response to failures begins with the acceptance that shit happens. Instead of brooding over why it happened, focus on how you should react to it, and move on.
This is not to disregard the causes for failures. Instead, it is to acknowledge the grim reality that plenty of things are beyond our control. The foremost of this being the past. While we can all learn from the past, can we change it? And if not, why brood over it? Stoicism encourages the clear separation of what we can control and what we can’t. To put this in business context, do not obsess over external factors such as industry downturns, technological changes, lousy staff etc. Focus instead on your reaction to it. Acknowledge that beyond your thoughts and intentions, practically everything is outside of your control. Therefore, make the best of what you do have an actual grip on i.e. your reaction to shock, grief, disbelief and so on. Do not sink into negative emotions. Doing so actually makes the tragedy worse.
One way to summarise Stoicism could be to say that it is a set of guidelines for life, with an emphasis on surviving adversity and practicing self restraint. Stoicism recognises that fear, anger, despair etc are all personal choices. In other words, you do not have to feel negatively towards a crisis. You do so only because you chose to.
Yup. You whine over the loss of a business contract not because you’re only human, but because you chose the humanly response to. Instead of allowing these negative emotions to overwhelm you, concentrate on mastering them. To put it in another way, do not allow yourself to be lured into a state of learned helplessness. Always believe in and practice your conscious ability to contain and redefine adversity.
3. Shitty People Do Not Deserve A Response From You
This goes under the umbrella of what was stated in (1) and (2). I highlight this again because in my opinion, most of our unpleasant experiences in life stems from someone being shitty.
Think about it. There are so many examples. The school bully. The nit-picking boss. The scheming colleague. These are people who do not take the Stoic approach to life; who attempt with all sorts of ways to manipulate things beyond their control. Why waste time joining in their games? Why allow their negativity to dictate your actions? Again, this isn’t to say you should just allow a bully to take your lunch money, or a competitor to steal your trade formula. It is to always have a realistic, controlled approach to such nuisances. Respond with a clear, calm mind, and not one that is already enslaved to negativities. Seek to remedy, never to get-back. Aim to resolve, and not just to avenge.
4. A Mastery Of Self Through Stoicism
The Stoics have an interesting exercise. The practicising of misfortune. Seneca, one of the key figures of Stoicism, recommends that in times of affluence, we set aside days to practice poverty. Which would mean doing things like abandoning your creature comforts, going hungry, dressing in rags etc. Now this sounds like asceticism. But the principle behind Seneca’s exhortation is to strengthen yourself against the possible downturns of life. By knowing it, by tasting it, you know how to react when it happens. You get an idea too how to avoid some downturns.
This is very much a life lesson. For businesses, I think it is a reality check. So your business is booming now. You have splurged on a huge new office. You are taking your clients and staff out on thousand-dollar meals. Are you going to regret such extravagance when times are bad? Are you going to look back and regret not managing your funds more wisely? The basic tenets of Stoicism emphasises on four cardinal virtues, wisdom, courage, temperance and justice. While these sound somewhat contrary to business, which is a contest for material gain, dosages of the four virtues in business management doesn’t hurt. If you need examples, just google how many businesses failed because of excessive expenditures during good times.
5. A Way Of Moving On
Stoics “count each separate day as a separate life,” as stated by Seneca. They cherish the new opportunities available with each coming day.
Stoicism also advocates clear goals. Another quote from Seneca goes that if you have no clue which port you are sailing to, no wind is ever good for you.
The worth these beliefs have for business management is crystal clear.
For me, living each day as a separate life has an additional value for business people. That is the belief that failures are finite. It could be very damaging. It might even be crippling. But life goes on. Life only stops if your negative emotions insists that it stops. Yes, you lost a huge contract. Your business might be going under. But does this mean you wouldn’t have another opportunity? Does this mean you would never be able to do business again for the rest of your life? Move on, a Stoic would tell you. Learn from it and move on. Don’t dwell on things you cannot change. Move on and there is another tomorrow.
6. Brutal Honesty
To recognise what you can and cannot control implies the need to be brutally honest with yourself. And so the confession here is that this post is but a light scratching of the entire school of thought that is Stoicism. If your interest is piqued, do check out these other resources too:
- Wikipedia’s summary of Stoicism.
- Want An Unconquerable Mind? Try Stoic Philosophy. An opinion piece published by Forbes.com.
- Stoicism 101: A Practical Guide for Entrepreneurs. Very interesting article on the worth of Stoicism for entrepreneurs by Tim Ferriss.
- Another useful summary of what Stoicism is all about.
- 6 Ways Stoicism Applies to Entrepreneurship. By Mike Fishbein.
- Loads of quotes by Marcus Aurelius, the Roman emperor frequently cited as one of the key figures in Stoicism.
- Interesting application of the fundamentals of Stoicism on the Greek Crisis. By BBC.com.
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business fails, negative emotions, philosophy, stoic, stoicism