Entrepreneurs may call it passion, persistence and stamina but at least one psychologist calls this 'grit' -- and it can outweigh IQ as a predictor of success, says Angela Lee Duckworth, Ph.D., assistant professor of psychology at the University of Pennsylvania. Grit, by her definition, is the tendency to sustain interest in and effort toward very long-term goals. Self-control, another key characteristic of successful people, is the ability to regulate emotions, thoughts and feelings in the service of valued goals. Those who demonstrate both traits may just have the winning combination for leading a thriving business.
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