When you think philosophy, you don't usually think successful business titans, but maybe you should.
Around 304 BC, a wealthy and successful merchant named Zeno was shipwrecked on a trading voyage. He lost nearly everything. Making his way to Athens, he was introduced to philosophy by Crates of Thebes, a famous Cynic, which changed his life. Within a few years, Stoic philosophy would be born. As Zeno later joked, "I made a prosperous voyage when I suffered shipwreck."
There was another famous Stoic named Seneca, a man so wealthy that when he called in some of his loans to the Roman colony in Britain, it crashed their economy and sparked off a rebellion. Charlie Munger, Warren Buffet's number two at Berkshire Hathaway, is a Seneca fan and quotes him often. The investor Nassim Taleb loves the Stoics, too, and oil and gas billionaire Thomas Kaplan funds a course on Stoicism at Brown University.
If you are a student of the men and women who have conquered the heights of business, you will inevitably find that they have incorporated — knowingly or not — many of the life principles and standards of behavior espoused by Stoicism, a philosophy designed for solving life's problems and leading a good life.
As investor and entrepreneur Tim Ferriss has put it, Stoic philosophy is "a simple and immensely practical set of rules for better results with less effort."
Which is why you should add their type of thinking to your repertoire. Below are seven exercises in Stoic thinking taken from my site The Daily Stoic (and the DailyStoic.com's daily email) that will help you reach the heights of success — both in business and, more importantly, in your personal life.
SEE ALSO: The philosophy of Roman emperor Marcus Aurelius is supposed to help you be more resilient and at peace — here's how to master it in 7 days
1. If you want to learn and succeed, be humble.
"Throw out your conceited opinions, for it is impossible for a person to begin to learn what he thinks he already knows."— Epictetus, "Discourses," 2.17.1
Of all the Stoics, Epictetus is the closest one to a true teacher. He had a school. He hosted classes. In fact, his wisdom is passed down to us through a student who took really good lecture notes. One of the things that frustrated Epictetus about philosophy students — and has frustrated all college professors throughout history — is how students claim to want to be taught but really secretly believe they already know everything. You see this regularly in today's upcoming entrepreneurs — arrogance combined with a lack of humility until the inevitable crash.
The reality is that we're all guilty of thinking we know it all, and we'd all learn more if we could set that attitude aside. As smart or successful as we may be, there is always someone who is smarter, more successful, and wiser than we are.
The 19th century writer Ralph Waldo Emerson put it well: "Every man I meet is my master in some point, and in that I learn of him." We regularly see this type of thinking in some of the most successful business leaders. They are humble and actively solicit feedback and learn from anybody they meet. Sam Walton, the founder of Walmart, put it more simply, "You can learn from everybody."
You also see it in Microsoft cofounder and philanthropist Bill Gates, a voracious reader who tries to understand the world a bit better every day, one book at a time. Perpetually exposing oneself to new knowledge and ideas is a humbling reminder of how little you know, even if you are one of the most successful business moguls in history.
2. Find the right scene.
"Above all, keep a close watch on this — that you are never so tied to your former acquaintances and friends that you are pulled down to their level. If you don't, you'll be ruined. ... You must choose whether to be loved by these friends and remain the same person, or to become a better person at the cost of those friends ... if you try to have it both ways you will neither make progress nor keep what you once had."— Epictetus, "Discourses," 4.2.1; 4–5
The late motivational speaker and author Jim Rohn's widely quoted line is: "You are the average of the five people you spend the most time with." Rohn advised young writers and entrepreneurs to find their "scene"— a group of peers who push them to be better.
This may remind you of your parents warning you when you were caught spending time with some bad kids: "Remember, you become like your friends." One of the philosopher Johann Wolfgang von Goethe's maxims captures it better: "Tell me with whom you consort and I will tell you who you are."
And if these examples are not enough, here is a quote from Berkshire Hathaway CEO Warren Buffett, arguably the most successful investor of all time: "It's better to hang out with people better than you. Pick out associates whose behavior is better than yours and you'll drift in that direction."
Or here is one of the most tenacious and strategic CEOs today, Amazon's founder Jeff Bezos: "Life's too short to hang out with people who aren't resourceful."
Consciously consider whom you allow into your life — not like some snobby elitist but like someone who is trying to cultivate the best life possible. Ask yourself about the people you meet and spend time with: Are they making me better? Do they encourage me to push forward and do they hold me accountable? Or do they drag me down to their level?
Now, with this in mind, ask the most important question: Should I spend more or less time with these folks? Remind yourself of one of investor and author Nassim Taleb's rules in life: "Avoid losers. If you hear someone use the words 'impossible', 'never', 'too difficult' too often, drop him or her from your social network."
3. Ruthlessly protect your time.
"Were all the geniuses of history to focus on this single theme, they could never fully express their bafflement at the darkness of the human mind. No person would give up even an inch of their estate, and the slightest dispute with a neighbor can mean hell to pay; yet we easily let others encroach on our lives — worse, we often pave the way for those who will take it over. No person hands out their money to passersby, but to how many do each of us hand out our lives! We're tightfisted with property and money, yet think too little of wasting time, the one thing about which we should all be the toughest misers."— Seneca, "On the Brevity of Life," 3.1–2
Today there are endless interruptions in our days: phone calls, emails, visitors, unexpected events.
American civil right leader Booker T. Washington observed that "the number of people who stand ready to consume one's time, to no purpose, is almost countless." It is no surprise that a lot of us can't get any work done.
A philosopher and a business leader, on the other hand, both know that their default state should be one of reflection and inner awareness. This is why they so diligently protect their personal space and thoughts from the intrusions of the world. They know that a few minutes of contemplation are worth more than any meeting or report. They also know how little time we're actually given in life — and how quickly our stores can be depleted.
Buffett intuitively understands this: "The difference between successful people and really successful people is that really successful people say no to almost everything." Because when you say no, you're protecting your time and your energy to focus on the big and important items in your life.
Seneca reminds us that while we might be good at protecting our physical property, we are far too lax at enforcing our mental boundaries. Property can be regained — there is quite a bit of it out there and some of it still untouched by man. But time? Time is our most irreplaceable asset, and we cannot buy more of it. We can only strive to waste as little as possible.
Today, when other people and events try to steal time from you and your work, remind yourself of what the founder of IKEA, Ingvar Kamprad, has observed: "You can do so much in 10 minutes' time. Ten minutes, once gone, are gone for good. Divide your life into 10-minute units and sacrifice as few of them as possible in meaningless activity."
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