Why you should invite a stoic philosopher to your next board meeting
5 lessons learned from the Roman emperor Marcus Aurelius
Known as the last of the Five Good Emperors, Marcus Aurelius was a Roman Emperor who ruled in a manner worthy of the title “Philosopher King”.
A firm believer in Stoic philosophy, his private journals, Meditations was written by him to clear his thoughts and reflect on how he could be a better person and ruler.
Meditations is one of the greatest books ever written. Its wisdom has helped me, and countless others find purpose and direction in life. Especially in today’s disarranged world.
I am by no mean a philosopher myself, and nor do I live up to the stoic ideals. But I do try and have – with success – implemented some of the key ideas.
In short, it enables me to be a better version of my previous self.
Some of these ideas are also highly applicable in the boardrooms of businesses today.
Lesson #1: Control the controllable
“You have power over your mind - not outside events. Realize this, and you will find strength.”
We should not get caught up in things we cannot control.
This is essential for living a healthy, long, and happy life because as you reflect on control, you begin to realize that there really isn’t much that we can control as an individual.
No matter who you are, what your stance in society is there will always be things that you cannot control – we can only try to alter our perception on those uncontrollable things.
Therefore, finding contentment in life and comes with a choice, to accept all that comes your way to stand for what you believe to be right regardless. Bruce Lee also talked about this in his famous phrase “Be like water my friend”.
How to use this in the board room:
There are so many things happening to a business, and it is easy to get carried away wanting to try to fix all the KPIs, OKRs, Red Flags etc. that are not pointing in the desired direction.
However, it goes without saying, that especially the role of the board is to identify, challenge and decide on two elements only. Firstly, what matters to the business, and secondly what we can control.
The job of the management is exactly to focus on these two elements only. And not explain poor performance with changes in financial markets, competitive moves, changes in customers preferences etc.
Yes, the environment changes constantly, but businesses can – and should – only spend its focus on actions within its controllable sphere.
So what: Discuss only elements that matters to the business within the company’s control sphere – and how to react to these.
Lesson #2: Don’t be enslaved by emotions and desires.
“The things you think about determine the quality of your mind. Your soul takes on the color of your thoughts.”
Aurelius believed in the driving force of thoughts. He was clear that thoughts, both from an individual and a general perspective, influence the shape of the world.
Aurelius knew how easy it was to be overtaken by a wave of emotions. To be paralyzed entirely by them. We often cannot think straight because emotions are so powerful and overwhelming. Just think about the last time someone made you very angry. You were probably so riled up, even for a while after, that you couldn’t do anything without thinking about the incident.
Marcus warns us to never be enslaved and controlled by our emotions.
To never let our desires, pleasures, or fears take over our lives and immobilize us. If we allow toxic emotions — based on false, subjective information about the objective world — to affect our minds, we will always be controlled by them.
How to use this in the board room:
Too many times I have participated in board meetings, where it was the egos and emotions of the management and/or board members that dictated the focus of the meeting.
I work with successful, dedicated, and smart people all the time. But I have met very few people who fully master their minds.
This leads to non-productive meetings, but more importantly, poor decisions based on emotions and egos – not rational decisions.
As Jocko Willink (retired United States Navy officer) so diligently puts it "Don't let your mind control you. Control your mind.".
So what: Leave your emotions and feelings outside the boardroom.
Lesson #3: Exercise self-discipline
“We should discipline ourselves in small things, and from these progress to things of greater value.”
The Stoics saw self-discipline as crucial for several reasons.
It enables us to control our impulses and desires rather than being controlled by them.
Marcus Aurelius advised examining one’s judgments and not automatically acting on initial impressions. With self-discipline, we can pause and consider the proper action rather than reacting rashly.
It is also self-discipline, that gets me out of bed early in the morning, heading for another session at the local pool. My mind is telling me no, stay in bed. But I choose not to listen. And get up. Most of the time.
How to use this in the board room:
Organizations and businesses are complex structures made up of processes, systems and not least people.
But when the board is strategizing, and making plans, the success of the plan is change. If nothing changes, you will end up with the same results. A lot have been written on change management, but I think it is fair to say, that few have cracked the code.
And this is exactly why the board needs to create an environment of self-discipline. An organization, in which the individual is encouraged and expected to exercise self-discipline for the common good.
However, this requires that everybody is empowered to do so, and have a clear picture of where the company wants to go.
So what: Lead from the front with clear communication and remove any distractions.
Lesson #4: Be data driven.
“Don’t let false, irrational impressions of the world, and the judgments and ideas these create, carry you away. Don’t be swayed by their constant flux.”
Marcus knew he could only be a good leader (and, more importantly, a good person) if he remained clear-minded and rational.
He knew how dangerous it was for someone in his position to become outraged, to dabble in hedonistic desires, or to feel paranoid by threats. He knew the road to virtue led through having a clear, unfiltered view of the world.
To understand, imagine all our biases, judgments, and emotions as filters on a photograph.
We can only take a representative, faithful picture of the world around us if we don’t apply any filters to the image.
We need to ensure (the most) objective truth of the world we live in.
How to use this in the board room:
We are at a point, where we have too much data.
The AI fad is not doing anything good for us, as computers (as you read this) are generating more and more data.
Unfortunately, this does not bring clarity as to what are the main opportunities and challenges for the company right now.
I have witnessed too many companies requesting benchmarks, industry reports and excessive analyses of the environment.
Data is important, but data is only relevant, if you use it to develop “a clear, unfiltered view of the world” – and find the insights.
So what: Create a shared view of key insights, and how to use this.
Lesson #5: Don’t dwell on the details, Act
“Stop talking about what the good man is like, and just be one.”
When we talk about what is good for society, many of us end up being caught up in the details.
We talk about all the good we could do.
We create narratives about how our actions can inspire greater things. We all imagine what a better world we would be living in if everyone lived up to the standards we were discussing. (I don’t even want to mention SoMe here…).
But a better world is built through actions. Not empty words.
Yes, it is important to philosophize and debate so that a good solution to issues can be found.
However, at a certain point, we must start acting on it.
How to use this in the board room:
Board meetings can be a pain in the a.., if not prepared and executed well.
This is back to basics (clear purpose and agenda, pre-read material, key decisions carved out etc.).
So, what are the topics for today, and what are the desired outcomes of the board meeting.
And off course, what are the actions and changes coming out of the meeting.
So what: Always end the board meeting with a summary of key actions with deadlines.