Stoicism for entrepreneurs: Practical

philosophy for the 21st century

last month

Todayʼs entrepreneurs are increasingly interested in understanding new

practices that will lead them to near perfect discipline. Stoicism is a Greek
philosophy that many of them have turned to for help in conceptualizing
their next innovation, flourishing in happiness & mindfulness, and cultivating
practices of resilience.

Philosophy was a way of life, both in its exercise

and effort to achieve wisdom, and in its goal,
wisdom itself. —Pierre Hadot”

This article will introduce you to some of the great Stoic philosophers and
explain their contributions to Stoicism. Weʼll also share insights from several
entrepreneurs—like Tim Ferriss and Ryan Holiday—that are disciples of
Stoicism and learn how practicing this philosophy has transformed their
business and personal lives.

What is Stoicism?
—

Letʼs start with the basics because Stoicism is not easy to grasp. This is
Greek philosophy after all.

Stoicism is a philosophical practice considered to be a complete way of life

(thatʼs askesis as the Ancient Greeks knew it). It focuses on these core
principles:

Make the best use of your time

 Be the master of your emotions
Walk the path of virtue
Develop self-mastery

The term “stoicism” is used nonchalantly in many blog articles, but word
itself comes from stoa, a public porch. Seriously, a porch? Any philosophical
tradition named after a porch is bound to make anyone fall asleep. But it
does get interesting! Stoicism takes its name after the space where Zeno
(the founder of Stoicism) used to teach, which was called the Stoa Poikile, or
“Painted Porch.”

Who are the Stoics?

—

Several well-known philosophers are commonly known as the leaders of

Stoic thought: Zeno the Stoic, Epictetus, Seneca the Younger and Marcus
Aurelius. Each of these philosophers focused on leading an ethical life—in
other words, being able to distinguish between right and wrong.

Zeno

Epicletus

Zeno the Stoic

“Man conquers the world by conquering himself.”

It all started with Zeno (thatʼs a dude) in 300 BC, who taught in Athens,
Greece. Zeno based his school of thought on the moral ideas of the Cynics,
and he put great emphasis on goodness and peace of mind gained from
living a life of virtue. The core of his teachings consists of virtue, tolerance,
and self-control. Thank you Zeno for naming a philosophical tradition after a
porch.

Epictetus
“Donʼt explain your philosophy. Embody it.”

Our man Epictetus taught that philosophy should be practiced as a way of

life and not just merely as theoretical discipline. According to him, all external
events are beyond our control, and we should passively accept whatever
happens. However, individuals are responsible for their own actions, which
they can examine and control through rigorous self-discipline. Epictetusʼ
student was Roman Emperor Marcus Aurelius.

Seneca the Younger

Marcus Aurelius

Seneca the Younger

“Luck is what happens when preparation meets opportunity.”

You may have heard of this guy. Seneca (fully Lucius Anneaus Seneca) was
also a Roman Stoic philosopher, statesman, tutor and advisor to the
emperor, Nero. He was raised in Rome and trained in rhetoric and
philosophy. His work involved topics like education, friendship, moral
obligation, humility, self-awareness, not wasting time, etc. Seneca is known
as one of the most famous Stoic thinkers of his time.

Marcus Aurelius

“You have power over your mind, not outside events. Realize this, and
you will find strength.”

Our last Stoic teacher happened to be the Emperor of Rome from 161 to 180
(yes, those are years). He was a master of Stoicism, and his journal—which
became the book Meditations—reminds us of the importance of humility,
self-awareness, service, death and nature. Heʼs kind of like the Thoreau of
Stoicism. Aureliusʼ works are considered literary monuments that describe
how to find and preserve emotional stability and composure.
The 4 Stoic principles for entrepreneurs
—

Alright, enough with the philosophical jargon. How can you—the

entrepreneur, small business owner or creative thinker—apply Stoicism to
your work?

1. Make the best use of time

Some periods of time are snatched from us,

some are stolen and some simply seep away. Yet
the most shameful loss is the loss due to
carelessness. -Seneca

Seneca reminds us to not waste our time because time is precious. In other
words, live your life with intention and be the master over your time.

Be clear with your intentions for the day and be firm on getting goals
complete. Here are a few ways you can get started:

Meditate in the morning and set your intentions for the day
Create daily to-do lists of achievable tasks to help you get things done
each day
Design your week in a way that makes sense for you

2. Be the master of your emotions

The Stoics taught us that unpredictable things happen in our lives that we
canʼt control. But we can control how we respond to events. Responding (as
opposed to reacting) requires a person to be in control of their emotions and
thoughts. In order to be a Stoic entrepreneur, you must be a master of your
emotions and in control of your daily habits.
 Entrepreneurs have to figure out a way to make
something possible within all the things that are
impossible. And we canʼt waste time complaining
or blaming because we have payroll to meet, we
have too much on our plate to worry about that.

Stoics focus their energy on these three Greek terms:

Apatheia is freedom from your emotions or to be without suffering.

Ataraxis is a state of tranquility where your emotions are impenetrable.
Autarkeis is your ability to maintain inner freedom.

In other words, take some time to think before responding to conflicts in the
workplace and avoid immediate reaction. If youʼre frustrated with a business
deal, a coworker or any other chain of events, close your laptop and go
outside. Turn to meditation to calm your emotions and help you think more
clearly.

3. Walk the path of virtue

Seneca portrait by FiveStarBranding

Virtuous behavior is that which is considered good when compared between

two extreme poles. Think courage over cowardice. Or modesty over
shamelessness.

As an entrepreneur, there will be plenty of ethical dilemmas in your company.

Take a moment to think through the possible ways you could respond. Write
them down if that makes it easier. Cross out the negative responses and
circle the positive ones. These are your virtuous reactions.

4. Develop self-mastery
The Greeks famously called this form of self-discipline askesis.

Seneca writes: “It is precisely in these days that we need to discipline our
spirit… for the spirit gives the strongest proof of its resolve by not being
attracted or distracted by pleasures which lead to self-indulgence.”

Why develop self-mastery or rigorous self-discipline? Why deny yourself

self-indulgence? Simply put, being a master over your time and your actions
can result in incredible outcomes.

Entrepreneurs need to be able to achieve goals within specific time periods.

After all, investors want to see quick results. Thatʼs not to say you canʼt have
any self indulgence, though. Weʼre human.

Take this principle and apply it as it fits your life. Maybe you decide to have a
longer workday but have an extra day off on the weekends. Or, maybe you
decide to have a 30-hour work week but commit to a certain level of output
each day. Whatever it is, find the mode that works for you and strive toward
self-mastery.

Modern day Stoics

—

Tim Ferriss

Tim Ferriss is an entrepreneur and author. He is a champion of Stoicism for

entrepreneurs and has written several books on the topic, including his most
recent book Tao of Seneca (which he crowdsourced designs for from
99designs). He was attracted to the philosophy because it can help deal
with high stress environments.

Tim advocates using Stoicism to help differentiate between things you can
control and the things you cannot. Lead a less stressful life by focusing on
the former. He also capitalizes on the idea of becoming a self-master, and
how practicing Stoicism systematically trains you to be less prone to
overreacting to criticism.

Ryan Holiday

Design for The Daily Stoic by prim

Ryan Holiday is also an entrepreneur and author. Holidayʼs book The

Obstacle Is The Way, is based on the Stoic exercise of framing obstacles as
opportunities. He also compiled The Daily Stoic, a daily devotional of Stoic
meditations. Among Silicon Valley entrepreneurs, Holiday is known for
bringing Stoicism into the twenty-first century.

In this podcast episode, The Stoic Entrepreneur, Ryan says that, “The Stoics
get this reputation for being negative or being depressing. I find that, in
reality, theyʼre just very realistic and pragmatic. They understand that things
often go the opposite of the way that we want them to go, so theyʼre
resilient.”

Sounds about right, Ryan.

Ready to be your own self-master?

—

With your new understanding of Stoicism and its basic principles—plus

contemporary Stoic masters like Tim Ferriss and Ryan Holiday leading the
way—youʼve got the tools you need to implement this philosophy into your
business practice. Doing so will make you a more successful, thoughtful and
self-assured entrepreneur.

Of course, Stoicism is not a quick fix for your business. The philosophy is
about fundamentally transforming your life and your business practice. It
takes time and thought. Enjoy your Stoic ataraxia!

Now, let me know when you want to talk about Enlightenment.

Further reading

Selected Letters by Seneca

Philosophy as a way of life by Pierre Hadot
Daily Rituals by Mason Currey
What I Learned Losing A Million Dollars by Jim Paul and Brendan
Moynihan

Ryan Holiday

Ryanʼs Personal Website

Books by Ryan Holiday

Tim Ferriss

Timʼs Personal Website

Books by Tim Ferriss

This article was written by Roze Beverly. Roze recently graduated Summa
Cum Laude from the University of California at Berkeley from the
Department of Anthropology. She has a range of interests from thinking to
teaching, developing strategy for political action, and spending time with
Michel Foucault. In her free time she enjoys skateboarding halfpipes and
being a teaching assistant.