Business Buddha. . .

Buddhism is often associated with meditation. But it also provides multiple insights into ways of thinking that can be applied to any field. Let’s look at some Buddhist principles that can help us run any project or business.

Buddhism strongly emphasizes having a clear understanding of the goal and direction before becoming involved with Buddhist practice. The goal is to completely rid ourselves of disturbing emotions and to realize the full potential of our minds and hearts. This final state is called “enlightenment.” Similarly, when we start any project or business, it is crucial to define the goal. Is it profit? Is it creating a certain value for customers or solving some difficult problem they’re having? The more precisely the goal is defined, the easier it is to figure out the road that can lead to it, and the higher the probability of reaching that goal.

Once the goal is defined, we need to figure out the causes that would lead to this goal. For enlightenment, the causes would be stopping our destructive behavior and training the good qualities of our minds, familiarizing ourselves with constructive, realistic ways of perceiving the world and dealing with it.

Compassion is one of the most important Buddhist principles. According to Buddha’s teachings: What does it have to do with a business? Business provides a solution to a customer problem. If a solution provided by a business is better than other existing solutions, it wins the competition race. So, understanding a problem our potential customers might be facing and having an empathetic attitude toward it are crucial. We need to identify and always keep in mind some real problem that our target audience is having in their lives and, based on that understanding, try to solve this problem in the best possible way. Compassion is the foundation for a customer-first or a user-centered approach to a business.

Buddhist analysis brings us another valuable insight into reality: everything changes constantly – we ourselves, the environment, and all the people around us. It’s very easy to get caught with an idea that seems to be obvious and solid; but, in a rapidly changing reality, it often becomes a cause for narrow-minded thinking, stubbornness and inflexibility.

Buddhist ethics is based on the principle of non-violence. We realize that everyone wants to be happy and doesn’t want to suffer. If we base our actions on this understanding and try to avoid harming others, we gain their respect and trust.

If we respect our colleagues, it brings trust and understanding in the team. We try to avoid saying something nasty behind people’s backs or to their face, and try to be transparent. Further, the more we respect our customer, the more trust and loyalty we get back.

We can use 5 Buddhist principles to make our business stronger. These principles are:

  • Define the goal
  • Rely on cause and effect
  • Develop empathy and compassion for the customer
  • Be mindful of impermanence and be flexible and innovative
  • Follow ethical principles and respect for colleagues and customers.

Enlist these principles in your own work. Honor them in others work and in the end we encourage and employ better guidelines and goals for all.

Peace and Love, Jim

#businessbuddha #thedailybuddha

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