The 4 Best Business Philosophies to Improve Your Company

Contributed content / By Darryl Martin / 21 January 2020

The world of business is fast-paced. There is a lot riding on every company decision. Advice on how to improve your company’s environment should be a welcomed change. 

Business is tricky. If it wasn’t, it’d be a lot less interesting, but it would certainly make life easier.

The world of business evolves quickly, with little between defining your success or your failure. 

When you are involved in a business, the intensity of the constant fight to flourish can make it hard for you to step back and take a look at the qualities that define successful businesses.

Getting that broader perspective can help lend you values that you can then use to improve your own work and optimize your mental process

These broad principles are sometimes referred to as philosophies: guiding notions that give you a lot of direction in all the different decisions that go into advancing your company. 

4 Common Practices That Benefit Your Business

  1. Abandon the idea of discouragement
  2. Treat everyone with respect
  3. Ask for help
  4. Let yourself tune out

1. Abandon the Idea of Discouragement

In business, you’ll fail often. But you will also learn.

Failure can be painful. Lots of motivational types will gloss over just how debilitating failure can be in business, but it’s important to experience it.

The key to this philosophy is to untether the feeling of having failed from the idea of discouragement. 

“Feeling discouraged is an utter waste of time. You’re far better off feeling miserable about whatever it is that has gone wrong and wallowing in that for a little while and then drying your eyes and continuing onwards, than ever feeling discouraged,” says Marshall Stoneham, business blogger at 1Day2Write and BritStudent

Discouragement slows you down in your development and is actually a way for your mind to insulate itself against the feeling of failure. 

Embrace failure, with all of its sadness and self-pity, but dust yourself off and keep on keeping on.

In a study conducted by SBA that showcases how business owners characterize their companies after 4 years, over 60% of businesses consider themselves a “success” after closure. 

SBA Study shows 33% of business owners said their business was a failure upon closure
 
In contrast, about 33% of business owners feel that their business was a failure upon closure.

2. Treat Everyone with Respect

With a busy schedule, you can easily find yourself being overworked. Because of this pressure, it becomes easier to brush people off. 

In modern business, treating people indifferently, let alone poorly, is not a good look. People need to go out of their way to be respectful and calm. This simply means empathizing with others

Building a reputation for being considerate will help in a variety of ways. It's is a philosophy that extends quite comfortably into the rest of your life, as well.

In a SHRM job satisfaction survey, treating your employees with respect is the most important.

SHRM survey 65% percent say respectful treatment of employees is very important to job satisfaction  
 
Surprisingly, job security, which is an individual mindset, is towards the bottom. Being respectful of others goes a long way. 

3. Ask for Help

In business, there is nothing humiliating about asking for help, regardless of your level of experience.

In fact, asking for help makes you seem more intelligent. 

“Socrates himself tells us that wisdom is the knowledge that you know nothing! Of course, you might want to perhaps temper how much Socratic wisdom you take on board in business, but the core message is very valid. If we’ve learnt anything from the ancients, it’s the dangers of hubris. In business, you seem infinitely more sage if you turn to experts for advice wherever possible”, writes Edgar Koch, business tech writer at Australia2Write

Asking for help doesn’t just seem like good practice either, it is absolutely the best way to move forward.

You can’t know everything and in every area of business you should be looking for advice on how to proceed, for the best possible results.

According to Heidi Grant, “It’s virtually impossible to advance in modern organizations without assistance from others. Cross-functional teams, agile project management techniques, matrixed or hierarchy-minimizing structures, and increasingly collaborative office cultures require you to constantly push for the cooperation and support of your managers, peers, and employees. Your performance, development, and career progression depend more than ever on seeking out the advice, referrals, and resources you need.”

4. Let Yourself Tune Out

We live in an age of opinions. They’re everywhere and, in the scarily large majority of instances, those opinions are unsubstantiated.

In business, as in life, it’s important that you develop a bit of a radar, or a filter, for intercepting information that will be of no use to you. 

Having just explained why you should ask for advice often; it seems that this is a contradictory philosophy. Tuning out is healthy. 

You can’t be too affected by what people around you are doing or saying.

There has to be a point when you confidently tune out the jarring opinions of others and rely on your own knowledge and trust yourself to make the right choice.

If you spent your whole time listening to all the noise around you, you’d never progress at all.

Take Charge of Your Business’s Work Environment

Business philosophies are useful because they give you a very broad idea which can be applied in various different ways, without much alteration.

You will find that, if you adopt a philosophy and begin to shape your business ethos around it, there will be a satisfying synergy between all the different elements to your business life.

In order to create a thriving business work environment, it is important to maintain collaboration and creativity, adopt new approaches to problem-solving, and involve all staff in goals and projects.

A company that pays attention to these fundamentals early on is more likely to experience stability and long-term success. 
 

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