When it comes to business, nobody wants to fail, and we all want to avoid making as many mistakes as possible, especially rookie ones, to ensure that our losses are little to none. Unfortunately, the best way to learn is to fail, and failure is, after all, our friend in disguise.
That said, understanding all there is to know about your business and equipping yourself with the right know-how, knowledge, expertise, and trends will help you avoid glaring pitfalls.
As the 21st century progresses, business trends move towards a swirling interest around resilience, mindfulness, and innovation to overcome pitfalls and mistakes. Many have trodden this path, leaving us with many lessons for us to learn.
Among these lessons is the brand of ancient western philosophy, Stoicism. Stoicism focuses on mindfulness and resilience and on the mindset that enables us to flourish, live the Good Life, and achieve Eudemonia. These guiding principles have significantly impacted Western ideology and thought processes.
Stoicism in business helps us to overcome destructive emotions. At the very core of their teachings are three basic lessons:
- The world is volatile and predictable, and life is brief
- We need to be steadfast, strong, and in control of ourselves
- Dissatisfaction arises from our impulsive actions rather than a logical course
If you are looking for a prime example of Stoicism in business and leadership, look no further than the previous Commander-in-Chief, former President Barack Obama, who is very obvious in demonstrating stoic qualities through his calm and collected demeanor. Many say that his behavior patterns echo Roman stoic Cato the Younger.
To be stoical is to transform negative emotions into a perspective that prepares you to be in the right state of mind because as well know, our mind, our actions, and our reactions are the only things within our control, and we ditch the other stuff that we have no grasp on.
Stoicism in Business
To be stoical in business is to be aware, in control, and mindful of what we do, who we engage with, the trends in our industry, expenditure, and the day-to-day runnings of our business entities. We train our minds to be this way rather than get lost in the various emotions and random thought processes that lead us to lose focus on our business goals.
The Stoic exercise, such as practicing misfortune and poverty, helps business owners prepare for worst-case scenarios rather than just going into a fall sense of success that everything is alright.
When this happens, when we fall into a dull lull, we make no preparations for our financial health. We do not work on making enough savings, we do not diversify our business plans, and most importantly, we do not innovate.
Practicing stoic principles in our business and entrepreneurship, as well as in our leadership, can help us build resilience and change our state of mind to rebound from knockbacks.
Another Stoic principle is to turn problems into opportunities. If you want to cultivate a culture of creativity in your business, you need to think of ‘The Glass half Full instead of half empty and turn obstacles upside down. Look for an opportunity in every bad situation.
Stoics Lessons for Business
1) Rationality, perspective, and logic
We need to control ourselves first before reaching out to control the events around us. Self-control is the only thing that will bring success every time.
2) Authenticity
While having role models to look up to is healthy, emulation can turn into imitation, and all you will ever produce is a second-rate product with no ounce of genuine innovation. Stoicism helps us embrace our unique quirks and use them to leverage into our business.
3) Self-mastery and purposeful action
A Stoic will know precisely what they want from the get-go, and they have clear goals with clear routes to get there. You can channel this by writing your daily goals because when you do this, you create a psychological pre-commitment on what you need to do the minute you wake up. You also make a self-expectation that increases the likelihood of achieving these tasks.
Science continues to prove what the Stoics have known for all these centuries. According to Shawn Achor, a psychologist at Harvard, professionals who worked on gratitude practice each start of their day performed at a much more efficient and productive level than those who did not. They also achieved a higher dopamine release, boosting their overall performance, happiness, and mood.
4) Military leaders follow its principles
In 1965, when James Stockdale’s plane was shot down over Vietnam, he told himself, ‘At least I’m leaving the world of tech and entering the world of Epictetus.’ Not something you would have thought of in the event you found yourself in this scenario. Stockdale spent over seven years in a Vietnamese prison, and during this time, he wrote about Stoicism and how it saved his life. He is quoted as saying, “You must never confuse faith that you will prevail in the end—which you can never afford to lose—with the discipline to confront the most brutal facts of your current reality, whatever they might be.”
5) Stoicism is ideal for the entrepreneur
As an entrepreneur, having to practice misfortune makes you a stronger person with a stronger mindset, which helps you overcome adversity. You can better flip obstacles upside down, turn problems into opportunities, and keep a perspective of how small you are; you also keep your ego manageable.
This element is essential for an entrepreneur, especially since there will be many things you need to balance and keep in mind to ensure your business runs like a well-oiled machine. This could be providing your payments are in order, your books are balanced, and your payroll checks are made on time. Sites like https://www.carouselchecks.com/ offer various types of checks you can use for your business, such as designer, multipurpose, and manual checks.
6) Stoicism lends itself to globalization
Epictetus shared the poignant reminder- that each of us is a citizen of our land, but we are also members of the great city of gods and men. Marcus Aurelius consistently reminded himself to love the world.
We all rush to meet the changes of this world. We strive to create innovations to make this world a better place to live in; we can look towards Stoicism to give us a system that we can cultivate and take relief from what the Stoics call ‘ a personal operating system for a high-pressured environment.
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