I used to be staring out of my London residence 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 business, and our funding spherical (the one alleged 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 grew to become 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 firms in one of the vital risky industries possible. However Stoicism has change into my secret weapon for navigating startup chaos. And if these historic rules can assist a hospitality firm survive a worldwide pandemic, they can assist any European founder climate their storms.

The management precept: Your North Star in disaster

Essentially the most elementary Stoic idea is the dichotomy of management. Marcus Aurelius wrote, “You may have energy over your thoughts, not exterior occasions. Realise this, and you’ll discover power.”

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 an alternative of losing vitality on denial (initially refusing to imagine London may lock down like Italy), panic (watching 80% reserving cancellations), or remorse (why construct a travel-dependent enterprise?), I channelled every little thing into execution mode and we acted quick.

We lower prices ruthlessly. Everybody took a wage lower, and as CEO, it was my responsibility to take the biggest lower. We furloughed the place potential, sadly needed to let some workforce members go, and pivoted into mid-term leases. These measures satisfied present traders to help us by way of 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 consequence? 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 vitality on remorse. As an alternative, they ask: “What can I do now? How can I exploit this example?“

Throughout COVID, while our opponents have been paralysed by disaster, we have been actively pursuing acquisitions and partnerships. Corporations that may have remained impartial have been instantly prepared to hitch forces with us. The pandemic was brutal, nevertheless it taught us that market downturns usually create the very best alternatives for strategic strikes. This systematic strategy to problem-solving additionally led us to develop our property administration software program that automates complicated workflows we’d mastered by way of 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 giant tech giants like Airbnb and Uber may defy laws, absolutely we may too. However this mindset modified when my telephone rang throughout a workforce lunch in Lisbon. Our Singapore nation supervisor, with worry in his voice, advised me the Singapore authorities had modified short-term rental legal guidelines in a single day. We have been not compliant.

We shut down your entire market that day. It harm, nevertheless it taught us that regulation is now one in every of our most essential strategic issues. We continually monitor regulatory developments as a result of we all know guidelines will change. When Edinburgh later modified its laws, we have been ready. We’d diminished funding nicely 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 it’s essential 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 unimaginable individuals, and had the chance to steer throughout unprecedented instances. This attitude 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 id to their firm. I nonetheless determine with GuestReady, however I’ve made a acutely 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 observe formal Stoic routines like every 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 example?
• Am I responding thoughtfully or simply reacting emotionally?
• Is that this definitely worth the vitality 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 neglect. If not, I let it go. 

While scaling the corporate, I’ve developed easy habits that preserve me grounded: beginning the day with a stroll, exercise, or yoga earlier than sitting at my desk; blocking time on weekends for household and mates; prioritising sleep. These aren’t grand gestures, however they create moments of stability that allow peak efficiency underneath strain.

The truth: It’s more durable than it sounds

I’ll be trustworthy: following these rules is way 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.

But it surely’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 clear up every little thing, nevertheless it helps me get out of the negativity and again into motion.

The objective isn’t to change into some impassive robotic. It’s to have instruments you’ll be able to attain for when your thoughts inevitably begins spinning. For those who’re dealing with powerful instances proper now, begin small. While you discover your self worrying about issues exterior your management, simply pause and redirect that vitality 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 Manner” for assist turning setbacks into benefits.