I used to be staring out of my London condo window, 80% income drop, lower than three months of runway left, and 140 salaries I couldn’t pay. It was April 2020, COVID-19 had simply shattered the journey trade, and our funding spherical (the one speculated to catapult us ahead) had evaporated in a single day.
However right here’s what nonetheless surprises me: I felt calm.
That sudden peace got here from a easy precept I’d encountered in historic philosophy: focus solely on what you’ll be able to management, and don’t fear concerning the issues you’ll be able to’t. This 2,000-year-old Stoic idea turned the inspiration that helped my firm not simply survive the pandemic, however emerge as Europe’s main short-term rental administration firm.
I’m not a thinker. I’m the CEO of GuestReady and RentalReady, and I’ve spent eight years constructing corporations in one of the unstable industries conceivable. However Stoicism has turn into my secret weapon for navigating startup chaos. And if these historic rules may also help a hospitality firm survive a world pandemic, they may also help any European founder climate their storms.
The management precept: Your North Star in disaster
Probably the most basic Stoic idea is the dichotomy of management. Marcus Aurelius wrote, “You will have energy over your thoughts, not exterior occasions. Realise this, and you will see energy.”
When dealing with the potential finish of the corporate’s journey in 2020, I couldn’t management the pandemic, collapsed markets, or journey restrictions. However I may management our response.
As a substitute of losing power on denial (initially refusing to consider London may lock down like Italy), panic (watching 80% reserving cancellations), or remorse (why construct a travel-dependent enterprise?), I channelled all the things into execution mode and we acted quick.
We reduce prices ruthlessly. Everybody took a wage reduce, and as CEO, it was my obligation to take the most important reduce. We furloughed the place doable, sadly needed to let some group members go, and pivoted into mid-term leases. These measures satisfied present buyers to assist us via the disaster. Many of those actions are emotionally difficult to navigate, so I made a decision to focus my feelings on what mattered most.
The outcome? We didn’t simply survive. We used the disaster to consolidate our market place while opponents struggled, in the end changing into the market chief in Europe.
Turning setbacks into aggressive benefits
Seneca wrote, “Catastrophe is advantage’s alternative.” This isn’t feel-good philosophy; it’s a sensible enterprise technique. When setbacks hit, Stoics don’t resist actuality or waste power on remorse. As a substitute, they ask: “What can I do now? How can I exploit this case?“
Throughout COVID, while our opponents had been paralysed by disaster, we had been actively pursuing acquisitions and partnerships. Corporations which may have remained unbiased had been instantly prepared to affix forces with us. The pandemic was brutal, nevertheless it taught us that market downturns typically create the perfect alternatives for strategic strikes. This systematic strategy to problem-solving additionally led us to develop our property management software that automates complicated workflows we’d mastered via operational expertise.
Strategic pessimism: Anticipating what may go mistaken
Founders are everlasting optimists, however blind optimism with out preparation is harmful. The Stoic observe of premeditatio malorum (imagining what may go mistaken) turns into a aggressive benefit.
Early on, we had that traditional startup mindset: if massive tech giants like Airbnb and Uber may defy rules, certainly we may too. However this mindset modified when my cellphone rang throughout a group lunch in Lisbon. Our Singapore nation supervisor, with concern in his voice, informed me the Singapore authorities had modified short-term rental legal guidelines in a single day. We had been not compliant.
We shut down the complete market that day. It harm, nevertheless it taught us that regulation is now one in all our most necessary strategic issues. We consistently monitor regulatory developments as a result of we all know guidelines will change. When Edinburgh later modified its rules, we had been ready. We’d diminished funding properly forward of time, making the loss manageable as a substitute of catastrophic.
Your startup may die, and also you’d be okay
The Stoics practised memento mori (remembering that you’ll die). For founders, I adapt this to: your startup may die, and that you must be okay with that.
Throughout our COVID disaster, I realised that even when we didn’t survive, our journey would nonetheless have been price it. I’d discovered tremendously, met unbelievable individuals, and had the chance to guide throughout unprecedented instances. This angle didn’t make me care much less concerning the firm’s success; it made me care higher. The motivation shifted from fear-based to purpose-based.
Many founders tie their identification to their firm. I nonetheless establish with GuestReady, however I’ve made a aware effort to create separation. What’s helped me keep grounded are the opposite components of my life: time with my spouse and son, household, train, nature, and friendships. Self-worth has to come back from inside.
Constructing your sensible Stoic toolkit
I don’t comply with formal Stoic routines like day by day journaling. For me, Stoicism is a psychological toolbox I attain for when wanted. In tough moments, I ask myself:
- What’s really in my management right here?
- How can I be taught from this case?
- Am I responding thoughtfully or simply reacting emotionally?
- Is that this well worth the power I’m giving it?
When my thoughts spins at 3 AM, I ask: “Is there something I can really do about it proper now?” If sure, I do it – largely it’s simply writing down my ideas so I don’t overlook. If not, I let it go.
While scaling the corporate, I’ve developed easy habits that hold me grounded: beginning the day with a stroll, exercise, or yoga earlier than sitting at my desk; blocking time on weekends for household and buddies; prioritising sleep. These aren’t grand gestures, however they create moments of stability that allow peak efficiency below strain.
The truth: It’s more durable than it sounds
I’ll be sincere: following these rules is far more durable in observe than it sounds on paper. I nonetheless get labored up emotionally, berate myself for errors, and dwell on failures greater than I’d like.
Nevertheless it’s precisely in these moments that reminding myself of those Stoic rules has been most useful. Once I catch myself getting caught up in remorse or anxiousness, I can step again and ask: “What’s really in my management right here?” It doesn’t magically remedy all the things, nevertheless it helps me get out of the negativity and again into motion.
The objective isn’t to turn into some impassive robotic. It’s to have instruments you’ll be able to attain for when your thoughts inevitably begins spinning. If you happen to’re dealing with robust instances proper now, begin small. If you discover your self worrying about issues exterior your management, simply pause and redirect that power towards one thing you’ll be able to affect.
For founders desirous to discover this additional, I like to recommend Marcus Aurelius’s “Meditations” for insights into how essentially the most highly effective man of his time handled struggles all of us face, William Irvine’s “A Information to the Good Life” for sensible knowledge you’ll be able to apply instantly, and Ryan Vacation’s “The Impediment Is the Means” for assist turning setbacks into benefits.
