Strength in Community and Stoic Leadership

Is Community the Key to a Strong Economy - and Your Business’s Success?

Any good business, whether small and locally-owned or a publicly-traded behemoth, understands the need to create a community in order to build brand loyalty and evergreen profits. When there’s a strong community behind anything, be it brand or a motion at a neighborhood association meeting, there’s a strong probability that it will achieve its goal. And, even if it’s blocked by some super power or intentional interference, it still has passionate supporters bringing attention and awareness to its cause.

A recipe for success, communities, however, seem inherently weakened by today’s society’s proclivity to be perpetually busy - and engaged in the alternate reality of online platforms. According to Raghuram Rajan, a professor at the University of Chicago and former chief economist for the International Monetary Fund, the fact that communities are losing steam is troublesome, considering just how important they are to nearly everything - from the success of the economy to personal fulfillment. In his book, The Third Pillar, Rajan explores the damage that can be done when economic growth is the only thing that matters, looking in depth at how “vibrant local communities contribute to human flourishing in ways typically overlooked”.

By working together within smaller communities, rather than looking solely at the big picture, more can be accomplished for the betterment of each other, which means those truly in need receive real help, rather than some fictional political vision that never takes hold.

For businesses, especially those that serve a local area, remembering the importance of community can mean the difference between success and petering out over the course of several years. When business owners stop to look at the importance of bringing people together at a smaller, local level, they can start making a real impact, one that can be measured and reported in a way that’s so much more meaningful for their audience and customers.

And, according to Rajan, there’s another underlying benefit to local businesses focusing on giving back to their community: “Relationships seem to be stronger when the members of the community have fewer alternatives, for it gives the members confidence that they will stay mutually committed.”

Why Stoicism is the New Trend in Leadership

While there’s a long list of challenges that plague entrepreneurs and business leaders today, when you look closer at the complaints (typically things like: too many decisions to make, overcoming obstacles, not burning out, knowing what to do first, etc.) there’s an underlying theme: Mindset.

When you, as a leader, get your mindset right, all of the challenges that inevitably come your way suddenly seem easier, or at least manageable. Of course, thanks to the plethora of self-help and leadership books available today, each one touting its secret formula for mastering your mindset, deciding which strategy or school of thought to follow can just feel like another thing on your to-do list. For a lot of leaders, they end up hopping from one strategy to another, just like we tend to do with diets and exercise programs.

Deep down, however, we all know that the only way to see real results is to really stick with something.

And that’s where stoicism comes in.

Stoicism, which has its origins in ancient Greece, offers people a practical guide for dealing with life, both professionally and personally. (And, any intelligent leader will tell you that both areas of life matter equally if you want to be successful.) Wonderfully practical without a hint of the modern-day self-aggrandizement found between the lines of most self-help books, stoicism is touted by many of today’s most-respected business leaders, including Tim Ferriss and Arianna Huffington. 

The book, Meditations by Marcus Aurelius, is one of the most often quoted books on stoicism - and for good reason. Not only is it filled with his daily observations as an emperor, but it is written in a way that is clear and without frills (totally “tweetable”, in other words).

For leaders in today’s world, one of the biggest advantages to following the guidelines of stoicism is that it helps you set your priorities on a daily basis. One of the most quoted lines from Aurelius’s Meditations is: “If you seek tranquility, do less. Or (more accurately) do what’s essential. Do less, better. Because most of what we do or say is not essential.” 

This advice comes as a welcomed reprieve for most leaders who are tasked with trying to accomplish as much as possible, as quickly as possible - and then rewarded for general “productivity”, rather than focusing on the “essentials”. And, the best part is that it works. Time really is your most important asset, which is why it’s so important not to waste it. By using your energy wisely, or, in this case, stoically, you not only don’t risk burning out, but you actually are better able to focus on what really matters to your business or company.

While there’s a long list of benefits associated with being a stoic leader in today’s modern world, two of the biggest reasons are that it inevitably will lead to less stress and less procrastination - and, in most leaders’ books, that’s a huge win.