Stoicism is a philosophy followed by many of the most successful entrepreneurs in the world. But what is it about the stoics that resonates so much with innovative and creative people? Here's a breakdown of 10 stoic principles that every entrepreneur should learn to master—at least if you want to be successful. Brought to you by True Stress Management.
2. "Stoicism was founded in Athens by Zeno of
Citium in the early 3rd century BC, but was
famously practiced by the likes of Epictetus,
Seneca and Marcus Aurelius. The philosophy
asserts that virtue (such as wisdom) is
happiness and judgment should be based on
behavior, rather than words. That we don’t
control and cannot rely on external events,
only ourselves and our responses."
WHAT
IS STOICISM?
- dailystoic.com
3. WHO PRACTICES STOICISM?
TimFerriss JackDorsey KevinRose J.K.Rowlingauthor and
entrepreneur
co-founder of
Twitter
co-founder
of Digg
author of Harry
Potter series
5. DON’T RUN FROM MISTAKES,
LEARN FROM THEM
1
Stoics don't believe in chasing
"perfection." They embrace their
mistakes and use them as opportunities
to learn and grow.
6. APPLYITTO
YOURBUSINESS
Be willing to take risks in your business. You might fail,
but the lessons you learn can be more valuable than
the time/money saved by playing it safe.
7. READ PURPOSEFULLY, AND
APPLY YOUR KNOWLEDGE
2
Early stoics were scholars. They saw the
value in reading and learning from the
mistakes of others. But more importantly,
they took action on what they read.
8. APPLYITTO
YOURBUSINESS
Read books, articles and case studies related to your
business. After reading, write down the lessons or
takeaways you got from it and apply what you learned
to your business.
9. REFLECT ON WHAT YOU SPEND
THE MOST TIME ON
3
One of the greatest stoics, Marcus Aurelius,
wrote "The value of attentiveness varies in
proportion to its object. You’re better off not
giving the small things more time than they
deserve."
10. APPLYITTO
YOURBUSINESS
As an entrepreneur, you have a lot on your plate.
Being able to allocate your time wisely is crucial. Audit
one of your typical days and identify the areas of
most/least importance. Then focus on the most
important tasks, and become a master at delegating
everything else.
11. YOU WEREN'T MEANT TO
PROCRASTINATE
4
Marcus Aurelius challenged himself to fight
procrastination. For stoics, procrastination stops
you from pursuing your passion. When faced
with the decision to procrastinate, Aurelius asked
"Why aren't you running to do what your nature
demands?"
12. APPLYITTO
YOURBUSINESS
Whether it's firing an employee, preparing a
presentation or making an important decision, don't
put it off for the last second. If you're truly passionate
about your business, you should run to do what it
takes to move forward.
13. YOU'RE ONLY IN CONTROL OF
YOUR ACTIONS
5
Stoicism is rooted in the belief that there
are things in life that are out of your
control. Instead of stressing about those
things, focus on what you can control—
your emotions and actions.
14. APPLYITTO
YOURBUSINESS
Don't waste time stressing over things you have no
control over. You can't control Google and Facebook
algorithms, or government regulations for your
industry. Instead, put all your energy into the parts of
your business you can impact.
15. THE SUCCESS OF OTHERS
INSPIRES ME
6
Jealousy is seen as a waste of time and
energy to stoics. Instead of being
envious or hateful of other people's
success, stoics see it as motivation and
inspiration.
16. APPLYITTO
YOURBUSINESS
When you see other entrepreneurs succeeding or
doing amazing things, even competitors, don't sulk or
think "they don't deserve that" or "that should be me."
Celebrate their wins and use it as motivation to
surpass them.
17. BE HONEST WITH
YOURSELF
7
Self awareness is one of the core
principles of stoicism. Understanding
your role in failures and success is crucial
for stoics.
18. APPLYITTO
YOURBUSINESS
Don't blame others for your situation. As a business
owner or entrepreneur, the success and failure of your
company rests on your shoulders. Know your limits,
strengths and weaknesses.
19. RELY ON LOGIC & REASONING
OVER EMOTION
8
Emotional decisions aren't always the
wisest or most thought out. Stoics often
use reasoning to overcome negative
emotions and thoughts, as well as in the
decision making process.
20. APPLYITTO
YOURBUSINESS
While emotion has its place, it can be dangerous in
certain situations. Don't let emotions trump logic and
reason in ways that will negatively impact your
company.
21. EVERY DAY IS A NEW
BEGINNING
9
While stoics believe in self reflection,
they spend very little time over-analyzing
past situations. They see every day as a
new opportunity to progress and start
over.
22. APPLYITTO
YOURBUSINESS
Did revenue decline yesterday? Is your website's
traffic down week over week? Don't let that ruin your
mood or cause you to lose focus. Treat today as a new
opportunity to rebound and move forward.
23. ACT WITH
PURPOSE
10
Seneca once wrote "If a person doesn't know
to which port they sail, no win is favorable."
The idea being, every action you take should
have a purpose. You should have clear goals
and a destination every day.
24. APPLYITTO
YOURBUSINESS
You should have daily, weekly, monthly and overall
goals for your business. You should also have a "big
picture" for your brand. Use that to navigate your
actions and you'll have a much better chance of being
successful.
25. RECAP
STOIC PRINCIPLES
FOR ENTREPRENEURS
01. Don't run from mistakes, learn from
them
02. Read purposefully, and apply your
knowledge
03. Reflect on what you spend the most
time on
04. You weren't meant to procrastinate
05. You're only in control of your actions
06. The success of others inspires me
07. Be honest with yourself
08. Rely on logic and reasoning over
emotion
09. Every day is a new beginning
10. Act with purpose
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