Definition and Importance of GRIT
GRIT is a psychological construct that combines passion and perseverance towards long-term goals. It goes beyond mere resilience; GRIT involves sustained effort and unwavering commitment to achieving your objectives, regardless of the challenges you face. The importance of GRIT in entrepreneurship cannot be overstated, as it directly influences your ability to navigate obstacles, adapt to change, and maintain focus on your long-term vision.
Research indicates that GRIT is a significant predictor of success in various fields, including business. Entrepreneurs who exhibit GRIT are more likely to push through failures, learn from setbacks, and ultimately achieve their desired outcomes. This module will help you understand the key components of GRIT, which include passion for your work, perseverance in the face of adversity, and a commitment to continuous improvement. By recognizing the significance of GRIT, you can begin to develop this crucial trait within yourself.
Overview of GRIT by Angela Duckworth
Angela Duckworth, a prominent psychologist and researcher, has dedicated her career to studying GRIT and its impact on success. In her influential book, Grit: The Power of Passion and Perseverance, Duckworth outlines her findings, demonstrating that talent alone does not guarantee achievement; rather, it is the combination of passion and perseverance that leads to long-term success. Key concepts from her research emphasize maintaining consistent effort over time, even when faced with challenges.
Duckworth's research highlights that GRIT is a trait that can be cultivated through practice and intentionality. She introduces Carol Dweck’s idea of a "growth mindset,” which posits that individuals can develop their abilities through dedication and hard work. This module will delve into Duckworth’s insights, exploring how her findings can be applied to your entrepreneurial journey. Understanding the principles of GRIT as defined by Duckworth will provide a solid foundation for the practical strategies you will learn in later modules.
The following video will provide you an introduction to Duckworth’s book of Grit.
Grit was found through our PW research as being essential for business performance during tough times. The difference in performance (profit) for higher grit vs. lower grit entrepreneurs became significant at the peak of the global Covid-19 pandemic, with "high-grit entrepreneurs averaging a gain in profit of 24.6%, medium grit 22.0%, and low-grit entrepreneurs averaging a loss of 6% from 2020 to 2021."
In the next lesson we will go deeper into why effort is even more essential than talent as you perform to achieve goals.
Additional General Resources: