8 timeless Stoic teachings that can help you make smarter business decisions

If someone fails in business, you know they made poor decisions. If someone thrives, you know they chose wisely.

That’s Business 101.

But, let’s face it, decision-making isn’t always straightforward. In an ever-evolving digital world, the complexities can be overwhelming.

How can we make smarter business decisions?

Enter Stoicism; an ancient philosophy with timeless teachings that still resonate today.

Buckle up and get ready for some profound wisdom that could just transform your business mindset.

1) Understanding what you can control

Decisions can be daunting, especially in business.

You’re faced with a multitude of options and every choice seems to carry a significant weight.

It’s like standing at the edge of a cliff, unsure whether the next step will lead you to a safe path or a free fall.

But here’s where Stoicism comes in handy. One of its core teachings is understanding the difference between things you can control and things you can’t.

Sounds simple, right? But it’s astonishing how often we overlook this.

Worrying about factors outside of our control is not only unproductive but also detrimental to our decision-making process.

It clouds our judgement and leads us astray from what really matters – the things we can actually influence.

Next time you’re faced with a tough business decision, take a step back and ask yourself – Can I control this?

If the answer is no, let it go.

This mindset shift could be the key to making smarter, more calculated business decisions.

And who knows? It might just be your pathway to becoming a more resilient entrepreneur in an ever-evolving digital world.

2) Embracing adversity as a learning opportunity

Business is a roller coaster ride, filled with ups and downs. And let me tell you, I’ve had my fair share of both.

I remember when I first started my own business. Things were going well until they weren’t.

I hit a rough patch and it felt like everything was spiralling out of control. It seemed like failure was just around the corner.

But then I remembered a Stoic teaching – to view adversity not as a setback, but as an opportunity to learn and grow.

I took a step back, dusted myself off and decided to face the problem head-on. I analyzed where things went wrong and found ways to improve.

It was a tough time, but it taught me so much about running a business and handling crisis situations.

Now, when faced with adversity, I see it as a chance to test my resilience and make better decisions for the future.

It’s not always easy, but thanks to Stoicism, I’ve learned to value the lessons that come from tough times.

In fact, I believe it’s these very challenges that have helped me become a stronger and wiser entrepreneur today.

Remember, when things get tough, embrace it.

You might just come out of it smarter than before.

3) Practicing negative visualization to manage expectations

In business, it’s easy to get swept up in the excitement of potential success.

But what if things don’t go as planned? This is where the Stoic practice of negative visualization comes into play.

Negative visualization is about contemplating the worst-case scenarios.

It might sound counter-intuitive, especially in a world where positive thinking is often promoted. But believe it or not, this practice can actually result in more satisfaction and gratitude.

People who regularly practice negative visualization are generally more appreciative of what they have and less likely to be disappointed when things go awry.

When making a business decision, consider all possible outcomes, even the not-so-good ones.

It won’t just prepare you for potential setbacks, but also help you appreciate your achievements more.

4) Living in accordance with nature

Stoicism teaches us to live in accordance with nature. But what does this mean in a business context?

It’s about understanding your business’ natural flow and working with it, not against it.

It’s about recognizing your strengths and weaknesses, your opportunities and threats, and aligning your decisions accordingly.

Take the digital world for example. It’s evolving at a rapid pace and businesses that resist this change often find themselves struggling.

But those who embrace it, who adapt their strategies to fit this digital landscape, are the ones who thrive.

Next time you’re faced with a decision, take a moment to understand the nature of your business and the environment it operates in.

Look at the bigger picture and make sure your decision aligns with it.

Going against the current is exhausting and often futile. But when you go with the flow, things just seem to fall into place.

5) Practicing the art of detachment

In business, it’s easy to become emotionally attached to our ideas, projects, or strategies. I’ve been there too.

The problem is when we’re too attached, it becomes difficult to make objective decisions, especially when things don’t go as expected.

This is where Stoicism comes in. It teaches us the art of detachment.

Detachment doesn’t mean not caring about your business. Rather, it’s about separating your emotions from the decision-making process.

It’s about being able to step back, look at things objectively, and make the best decisions possible.

I’ve found this particularly helpful when making tough decisions. It allows me to weigh the pros and cons without letting my personal feelings cloud my judgment.

And more often than not, it leads me to make smarter, more calculated choices.

Next time you’re in a tough spot, try practicing detachment. 

6) Embracing the present moment

In the world of business, it’s tempting to get caught up in future projections and past performances.

They’re important, no doubt. But sometimes, the present moment holds the key to making smarter decisions.

Stoicism teaches us the value of being present. It’s about focusing on the here and now, rather than dwelling on the past or obsessing over the future.

Odd as it may seem, this can greatly enhance your decision-making ability.

By being fully present, you’re more attuned to your current business environment and better able to respond to its immediate needs.

Next time you’re faced with a decision, take a deep breath, ground yourself in the present moment and observe. You might just find the answer right in front of you.

7) Cultivating inner tranquility

Running a business can be stressful. There’s always something that needs your attention, always a decision that needs to be made.

It’s easy to get caught up in the whirlwind and lose your peace of mind.

Stoicism, however, offers a solution – cultivating inner tranquility.

It’s about finding a calm within the storm, a sense of peace amid the chaos.

This doesn’t mean ignoring the challenges. Instead, it’s about facing them with a calm and composed mind.

It’s about making decisions not out of panic or stress, but from a place of inner tranquility.

The result? Better, more thoughtful decisions that are likely to benefit your business in the long run.

Next time you’re in the midst of chaos, remember to cultivate your inner tranquility.

8) Practicing virtue above all else

In the end, Stoicism teaches us that virtue is the highest good. It’s about honesty, integrity, and doing what’s right – even when it’s not easy.

In business, this means making decisions that align with these virtues. It means treating your employees, customers, and competitors with fairness and respect.

It means conducting your business in an ethical and responsible manner.

Sure, it might not always lead to immediate success.

But in the long run, practicing virtue creates a business that’s not just profitable, but also respected and admired.

The path to smarter decision-making is not just about strategies and techniques. It’s also about the values you uphold and the virtues you practice.

Because in the end, a business built on virtue is a business built to last.

Embracing the timeless wisdom of Stoicism

If you’ve journeyed with me this far, hopefully, you’ll see that Stoicism is more than an ancient philosophy. It’s a practical framework for navigating the complexities of business decision-making.

Because Stoic teachings aren’t about suppressing emotions or becoming indifferent.

Rather, they’re about gaining clarity, embracing reality, and making informed decisions based on virtue and insight.

If someone embraces this, they’re not just a smart decision-maker.

They’re likely a wise and resilient entrepreneur.

Marcus Aurelius, a renowned Stoic philosopher and Roman emperor, once said, “The happiness of your life depends upon the quality of your thoughts.”

As such, by incorporating Stoic principles into your business decisions, you’re not just enhancing your entrepreneurial journey—you’re elevating the quality of your life.

Take a moment to reflect on these teachings.

You may find that they don’t just make you a smarter decision-maker in business, but also a more grounded individual in life.