There are many skills and traits that go into forming a successful business owner, tenacity being one of them. Tenacity is not only something deemed solely for the business realm but in personal life as well. Dive into tips that go behind the psychology of tenacity and grit in business and how improve mental toughness.
What we cover in this episode:
- 02:38 – Defining Tenacity in Business
- 07:17 – Cultivate a Growth Mindset
- 09:19 – Practicing Resilience
- 12:12 – Embrace a Solution-Oriented Approach
- 13:46 – Learn from Setbacks and Failures
- 14:53 – Seek Support and Accountability
- 21:44 – Stay Persistent and Adapt
Defining Tenacity in Business
By definition, tenacity is “the quality or fact of being very persistent or determined.” When it comes to tenacity in business, it can seem much more complex.
Tenacity takes grit, perseverance, adaptability, resilience, and a growth mindset. Learning from past and present failures and adapting for the future is a big advantage in business. Being able to create a balance of self reflection, grind daily, promote and accept change are huge components. You don’t learn tenacity overnight, but developing it within yourself will go a long way.
Cultivate a Growth Mindset
Cultivating a growth mindset can be very overwhelming. As a business owner, you may feel overwhelmed by many opportunities. You may also be unsure of where to begin or afraid to begin. These feelings can result in not taking any action.
There are two components to cultivating a growth mindset: reflection and intention. First, reflect on past failures, current successes, and future goals. Then, be intentional about what you discovered and what you plan to do. Focusing intentionally on the correct opportunities will grow you mind and your business.
Practicing Resilience
One way to improve your mental toughness is through resilience. Learning this skill is much easier said than done. To practice building resilience, you need to have developed the ability to calmly adapt to your ever-changing environment.
The book The Comfort Zone by Michael Easter discusses how our society is constantly seeking comfort in every aspect of life. When change comes for good or bad, keeping calm and adapting becomes crucial. This ability to calmly assess and react to situations will make all the difference when building resilience and grit in business.
Embrace a Solution-Oriented Approach
There are many components that come together to create the tenacity you need to push on and persevere. Additionally, there are solutions for everything, you just need to learn how to find it. Breaking down complex challenges into manageable and smaller tasks will help find the solution and keep it from feeling too overwhelming.
This is a great opportunity to brainstorm and recruit additional help and alternative perspectives. Perhaps the way we solve problems should change and be seen in a new light, which can impact the approach taken.
Learn from Setbacks and Failures
You do not build grit and tenacity by giving up or giving in when you face adversity and encounter roadblocks. Developing resilience and determination in business depends on how you handle challenges and mistakes that occur while pursuing your goals.
This means that your ability to bounce back from setbacks and stay focused on your objectives is crucial. It is important to recognize that challenges and mistakes are inevitable in any business endeavor. By viewing them as opportunities for growth and learning, you can develop the resilience and determination needed to succeed.
You must analyze your failures, reframe them in a positive way and adjust your strategy on how to build up from these failures and setbacks. You will not get anywhere you want to be if you give into failure. These are lessons learned and needed on your road to building your tenacity and your business.
Seek Support and Accountability
As much as it may seem practical and possible to build your skills and business by yourself, it is not. You need a support system to keep you accountable, provide a fresh perspective, and help you grow when necessary.
The size of this accountability and mentorship team you build doesn’t have to be vast, it has to be diligent. One of the hardest things to do is to self-analyze and find what you need to improve on to grow. With mentors guiding you through developing yourself and self-reflection, it can be easier to adapt and pivot to change. Creating a community you can count on is crucial.
Stay Persistent
You won’t develop tenacity, grit, or your business if you quit. You must stay persistent in all you do, stay committed to your goals and maintain a long-term perspective, even during challenging times.
Challenging times will come and they will only make your road to success and skill of tenacity and grit stronger. Step outside your comfort zone and adapt to the ever changing market. We all have heard “without risk there is no reward.”
Conclusion
There are many important skills and characteristics needed to succeed in the business world. Building mental toughness in business requires developing tenacity and grit, which are essential for overcoming challenges and achieving success. We help service-based businesses making over $1 million in revenue by providing services and guidance that help them grow.