An interesting distinction

The difference between persistence and tenacity

American author, entrepreneur and marketer, Seth Godin draws a clear line:

Persistence is doing something again and again until it works. It sounds like ‘pestering’ for a reason.

Tenacity is using new data to make new decisions to find new pathways to find new ways to achieve a goal when the old ways didn’t work.

Telemarketers are persistent, Nike is tenacious.

American financial commentator and “the world’s best (in a category of one) financial illustrator with a Sharpie”, Carl Richards continues this line of distinction:

Based on Seth’s description, I think we often confuse the two when we’re making financial decisions. The reality is that we need tenacity much more than we need persistence.

We’re relying on persistence when we stick with the idea that all we need is a financial plan. We’re showing tenacity when we engage in the process of financial planning.

We’re relying on persistence when we stick with an investment that no longer fits our goals, but we’re convinced it will turn around any day. We’re showing tenacity when we make course corrections as things change.

We’re relying on persistence when we stick with the idea that if we just find the next Apple, we’ll be set for life. We’re showing tenacity when we take a look at the data and recognize that a low-cost, diversified portfolio can actually get us to our goals.

So the next time you make a financial decision, ask yourself: Does your choice reflect persistence or tenacity? If it’s the former, think long and hard about what it might be costing you.

http://www.behaviorgap.com/persistence-vs-tenacity/