One character, several grammatical roles
道 can be a noun for a road or path, a method or way of doing something, or a principle in philosophy. It can also function as a verb meaning to say in expressions such as 说道 and 道歉, and as a measure word in phrases such as 一道门 or 一道题. In classical texts, “the Way” is a contextual reading rather than the automatic meaning of every appearance of the character.
道 in common words
道路 means a road; 道理 means reason, principle or what is reasonable; 知道 means to know; 味道 means taste or flavour; 难道 introduces a rhetorical question. These ordinary uses are useful evidence that the character is broad. A tattoo using 道 may suggest a path or principle, but the reading depends on the viewer, the surrounding text and the setting.
Form and structure
道 has twelve strokes and is written the same way in simplified and traditional Chinese. It is a semi-enclosed character with 辶 and 首. The moving 辶 component can become compressed in decorative scripts, so check that the inner part remains recognisable and that the final sweep does not turn the character into a different form. Regular or clear semi-cursive calligraphy is safer for a permanent design than an experimental script without review.
If you choose 道 for a tattoo
A standalone 道 is broad and can read as a personal path, a method or the Daoist Way. If you mean the philosophical concept, consider whether a longer phrase or an accompanying explanation would remove ambiguity. Do not confuse 道 with 到 (dào), which means to arrive. A short character is not automatically simpler in meaning; it often requires more context, not less.