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Warren Buffett, chairman and CEO of Omaha, Nebraska-based holding company Berkshire Hathaway, is one of the world’s most well-known investors, with a net worth north of $145 billion.

^{Image Credit: Eric Francis | Getty Images. Warren Buffett.}

However, like all successful investors, Buffett had to start somewhere.

In his biography The Snowball: Warren Buffett and the Business of Life, author Alice Schroeder recounts Buffett’s early fascination with money — and an important lesson he learned from his first investment.

Related: Introvert Warren Buffett Was ‘Terrified’ of Public Speaking. Here’s the Secret That Helps Him Address 40,000 People at the Berkshire Hathaway Annual Meeting.

Buffett got his first taste of entrepreneurship at age six when he started selling packs of chewing gum. “I would buy packs of gum from my grandfather and go around door to door in the neighborhood selling this stuff,” Buffett tells Schroeder. “I used to do that in the evening, largely.”

Eventually, the young entrepreneur moved on to selling Coca-Cola, a more profitable venture that earned him a nickel every six bottles. Selling golf balls at the Elmwood Park golf course and peanuts and popcorn at the University of Omaha football games followed.

One day, Buffett visited the library and stumbled upon a book called One Thousand Ways to Make $1,000, which opened his eyes to the power of compound interest. Buffett wanted to try it for himself.

Related: Want to Become a Millionaire? Follow Warren Buffett’s 4 Rules.

By the following year, 1942, 11-year-old Buffett had saved $120 to purchase his first stock: Cities Service Preferred. He took his sister Doris on as a partner and purchased three shares for each of them for $114.75.

Unfortunately, the market hit a low that June, and Cities Service Preferred plummeted from $38.25 to $27 a share, a fact that Buffett’s sister “reminded” him of every day, Schroeder writes. So, when the stock had recovered enough to net a small profit — $5 a share — Buffett sold.

Then, Cities Service Preferred skyrocketed to $202 a share.

Related: Warren Buffett Finally Reveals What Mystery Company Got a $6.7 Billion Investment from Berkshire Hathaway

Buffett tells Schroeder the experience was one of the most important of his life because it taught him three lessons about investing:

1. Don’t “overly fixate” on what you’ve paid for a stock.
2. Don’t rush to sell for a small profit.
3. Don’t invest someone else’s money unless you know you can succeed.

The lesson has served Buffett, now 94, well over the years. In August, Berkshire Hathaway surpassed $1 trillion in market value for the first time.

Recently, I had the privilege of delivering a keynote and a series of in-depth training programs for a client in Australia. The initiative was aimed at improving the customer experience, but this wasn’t just about energizing the customer-facing teams; it was a company-wide effort aimed at embedding a customer-centric mindset across the entire organization.

Their leadership gets it. They understand that every employee, regardless of their role, plays a pivotal part in shaping the ultimate customer experience, as well as their brand.

This experience reinforced my belief that customer-centricity is a critical topic that every leader, manager, and employee needs to understand. Let’s examine why this topic is so important.

In today’s competitive market, businesses face a new reality: customer expectations are soaring. Gone are the days when delivering a good product or a transactional service was enough. Customers now seek personalized, memorable experiences with the brands they choose to engage with. To stay ahead, companies must adopt a customer-centric culture — where every action, every process and every decision is aimed at enhancing the customer experience.

At the core of this concept is the understanding that every employee plays a role in the customer journey. It’s not just the responsibility of customer service or sales teams. Whether directly interacting with customers or not, every person within the organization has a profound impact on the customer experience and on the company brand.

Let’s explore what it means to create a customer-centric culture and how to embed this mindset into every person in every department.

How non-customer-facing roles impact customers

Consider Best Buy, a retailer specializing in consumer electronics. Best Buy’s sales associates directly interact with store customers, helping with product selections. But, the customer experience extends beyond the sales teams. Employees across departments, including logistics, inventory management and corporate teams, play critical roles in shaping how customers perceive the brand.

For example, inventory managers ensure shelves are stocked. If they fail, customers might leave frustrated. Similarly, corporate decisions on product selection or pricing impact what’s available. These behind-the-scenes roles directly affect whether a customer leaves satisfied or disappointed.

This highlights a fundamental truth: the customer experience is shaped by everyone in the company, not just the employees who interact with customers directly.

Why customer-centric culture matters

Customers today expect more than just transactions. They seek relationships with brands that deliver value at every interaction. Ensuring a consistently exceptional customer experience isn’t the job of one department; it’s the responsibility of the entire organization.

At Best Buy, customer-centricity is embedded in the company’s DNA. From marketing to operations, every team’s work ultimately serves the customer. And it’s working! Despite competition from online giants like Amazon, Best Buy has held its own by enhancing the experience through expert advice and after-sales support, areas where online retailers often fall short.

Related: How to Cultivate a Customer-Centric Approach to Brand Building

A customer-centric culture is every employee’s responsibility

So, how can a company ensure every employee adopts a customer-centric mindset?

1. Understand the bigger picture: Every employee must see how their role connects to the overall customer experience. For instance, even employees in departments like IT or HR play a significant role in shaping that experience. IT can improve customer interactions by ensuring that systems, such as the company’s website or in-store technology, function smoothly for a seamless shopping experience. HR, on the other hand, contributes by maintaining a positive work culture that energizes and supports customer-facing employees, helping them provide the best possible service both in-store and online.
2. Collaboration: A customer-centric culture thrives on teamwork. Employees should feel comfortable asking colleagues, “How can I help you improve the customer experience?” Collaboration between departments ensures that every team member is aligned in serving the customer, whether directly or indirectly.
3. Create a strategy for customer-centricity: Embedding a customer-centric mindset into the company culture requires intentional effort. Employees need to be strategic about how they approach their roles. For example, teams should regularly review customer feedback to refine their product offerings and improve service. Whether it’s enhancing the customer’s in-person experience, optimizing the online shopping journey, or streamlining delivery processes, businesses must continually adjust their strategies based on customer needs and feedback. This ongoing refinement ensures the company evolves with consumer expectations, maintaining its reputation as a customer-first organization.

Making customer experience part of the DNA

Becoming customer-centric doesn’t happen overnight. It requires sustained commitment from everyone. Your employees should be encouraged to consider how their tasks impact the customer. Whether managing inventory, assisting customers in-store or in their office, or overseeing logistics, every action must be evaluated through the lens of customer impact. This customer-first mentality must become part of every employee’s daily routine, ensuring the customer experience is always a priority.

Related: Customer Centricity: What It Is, Why It Matters and How to Improve Yours

The “three asks” of a customer-centric employee

To solidify customer obsession, employees should embrace what I call the “Three Asks” of a customer-obsessed employee:

1. Ask how you can support colleagues in improving customer interactions. Even if you don’t work directly with customers, supporting teammates who do can boost overall satisfaction.
2. Ask how processes can be improved for the customer experience. Identifying inefficiencies within internal processes and suggesting improvements helps streamline service.
3. Ask how you can take ownership of customer outcomes. Recognize that your work contributes to the company’s customer experience, whether or not you’re customer-facing. Ownership and proactive thinking positively impact overall success.

Recognizing and celebrating progress

Creating a customer-centric culture requires continuous improvement and regular recognition. Celebrating and rewarding customer-centric behaviors reinforces their importance and motivates employees to strive for excellence. By recognizing these efforts, companies foster an environment where employees take pride in contributing to the mission of putting customers first.

Related: Starting My First Business at 11 Taught Me These 4 Lifelong Business Lessons

A customer-centric culture isn’t built in silos. It’s built when every employee, regardless of role, adopts a mindset of customer obsession. It’s about going beyond job descriptions and asking, “How does my work impact the customer?”

When every team member works toward the same goal — delivering an outstanding experience — customer satisfaction soars, employee morale improves, and the company gains a competitive edge.

At the end of the day, customer-centric organizations don’t just meet expectations — they exceed them. That success requires a unified, company-wide commitment. By embedding customer-centricity into the business, employees will feel empowered, customers will be delighted, and the organization will thrive for years.

Months ago, ChatGPT introduced a memory feature that remembers details across conversations — and most users still aren’t aware of what it means and don’t realize the massive privacy and copyright risks it poses. Imagine sensitive client information or trade secrets bleeding across projects without your knowledge. This isn’t just a glitch; it’s a wake-up call for anyone using AI in business.

In this video, I’ll uncover the surprising risks and share actionable strategies to help you use AI safely and responsibly. Learn how to harness the power of AI to grow your business, safeguard your brand and stay ahead of your competition.

Download the free “AI Success Kit” (limited time only) — and you’ll also get a free chapter from Ben’s brand new book, “The Wolf is at The Door – How to Survive and Thrive in an AI-Driven World.“

Let’s get real: If you’ve been on social media lately, you’ve probably seen everyone and their dog claiming to be a “coach.” Big promises, high-ticket prices and flashy marketing are everywhere — Become a millionaire overnight! Get unlimited success in 30 days! All that hype has created one big problem: skepticism. And people have every reason to be cautious.

If you’re serious about starting a real coaching business, you’ve got to rise above the noise. Here’s how to build trust, create impact and attract clients for the long haul — without the empty promises.

Related: 4 Steps to Building a Successful Coaching Business

Step 1: Keep it real about what you can offer

If you’re starting a coaching business, the first step is knowing what you actually bring to the table. You don’t need to promise “life-changing results” if that’s not what you deliver. So, ask yourself: What can I teach that’s truly going to make a difference? By defining what sets you apart, you’re setting yourself up to attract the right clients.

Niche down or get drowned out:

General “business coaches” are everywhere. But the coaches who succeed are the ones who have a clear niche. Instead of trying to cover it all, focus on something specific, like “pitch development for new startups” or “productivity for busy parents.” When you’re clear about what you do, you attract clients who are looking for exactly that. A clear niche allows you to offer a more personalized, targeted approach that addresses your clients’ unique challenges.

• Example: A friend of mine coaches startup founders specifically on crafting killer pitch presentations. That’s her thing, and because she owns that niche, she’s become the go-to expert in her space.

• Quick tip: When you’re too broad, you blend in with every other coach out there. Find your specific angle, and stick with it. The right clients will come to you, and you’ll avoid spreading yourself too thin.

Establish your signature approach:

Once you’ve defined your niche, think about your unique approach to delivering results. Maybe it’s your 5-step framework for achieving work-life balance or a 10-day boot camp that accelerates learning. A signature approach not only gives clients clarity on what they’ll get but also differentiates you from others in your field. Highlighting this approach on your website or in your marketing materials can be a great way to showcase your value.

Step 2: Build trust before trying to sell anything

Coaching is all about trust. If clients don’t believe in you, they’re not sticking around. And nothing kills trust faster than a hard sell before you’ve shown them you’re worth it. Instead, start by delivering real value that builds credibility.

Give people a reason to believe in you:

Sharing free tips and insights allows potential clients to see your expertise in action. This could be through quick video clips, social posts or blog articles that offer practical advice. Focus on things that get people actual results, even if it’s something small — because those small wins build trust and make people want more.

An easy way to get started is by offering a mini training series or a weekly “tip of the day” on platforms like LinkedIn or Instagram. For instance, a productivity coach might post a daily reminder about a time-saving habit or a two-minute video on how to tackle procrastination.

• Example: A productivity coach could post weekly tips on LinkedIn about streamlining routines or tackling time management. When people start seeing results from your free advice, they’ll naturally want to know more about your paid programs.

Cut the hype and keep it authentic:

It’s tempting to sell with buzzwords and big promises, but here’s the thing: People can spot inauthenticity a mile away. Instead of trying to impress, focus on transparency. Share the ups, the downs and the lessons. Honesty is your advantage in a world of over-the-top claims.

• Quick tip: Clients relate to coaches who show up as real people. Talk about your wins but also the challenges. People trust those who keep it authentic, and this relatability is often what encourages them to hire you.

Related: How to Maintain Brand Authenticity in an Increasingly Skeptical World

Step 3: Scale smart — but keep quality in check

One-on-one coaching is powerful, but it limits your reach and your income. If you want to grow, you need to create products that let you work with more clients while still delivering value.

Use creator tools and lead magnets to build your audience:

Scaling your coaching business means reaching the right people consistently, and that’s where platforms like GetResponse can be a game-changer. With built-in creator tools for creating online courses, lead magnets to attract new clients and email automation to keep them engaged, you’ll have everything you need to grow while maintaining quality. For example, a career coach might offer a “10-Step Resume Guide” or “Interview Checklist” as a free lead magnet to attract interested clients.

A lead magnet like a free checklist or video tutorial not only captures leads but also builds trust by offering value upfront. When someone downloads your lead magnet, GetResponse’s automation can send a series of nurture emails, gradually introducing your services. This not only builds rapport but also guides leads toward your paid programs, like a full coaching course or a personalized workshop.

• Quick tip: A lead magnet that delivers real value — like a downloadable guide or checklist — doesn’t just create leads; it also sets the stage for converting followers into paying clients. Consider what free resources could best showcase your expertise and engage your audience.

Scale your approach with online courses and group coaching:

Once you’ve built a steady audience, consider scaling with digital products like online courses or group coaching sessions. These offerings let clients learn on their schedule while keeping your time commitments flexible. Many platforms offer tools for building online courses, making it easy to package your expertise into a product that can reach a wider audience.

If you’re a wellness coach, for instance, you might create a self-paced course on “10 Steps to Better Health Habits,” allowing clients to work through it in their own time, with optional one-on-one sessions for those wanting more personalized guidance.

Step 4: Build a community, not just a client list

The secret to a thriving coaching business? An engaged community. When clients feel connected to each other and to you, they’re more likely to stay involved, see results and refer others.

Create a space where clients can engage:

Whether it’s a private group, monthly live Q&As or an exclusive email list, creating a community makes clients feel like they’re part of something bigger. When clients feel connected to others on the same journey, they’re more motivated, more engaged and more likely to keep working with you. This community vibe often strengthens your brand, creating advocates who bring in new clients organically.

For example, a wellness coach I know hosts virtual meetups where clients can share progress, get feedback and set new goals. That little bit of extra community support keeps clients coming back and turning into referrals.

Foster long-term engagement with content and consistency:

Community is about consistent interaction. Set up regular check-ins, like monthly “goal-setting” webinars, or encourage discussions within your private group. By actively participating and providing content that addresses the latest challenges and trends in your field, you foster a community that’s not just clients but loyal supporters.

• Quick tip: Invest in building a community. It’s not only valuable for your clients but becomes a powerful asset that adds value to your coaching brand. It’s a long-term approach that keeps clients engaged and encourages word-of-mouth growth.

Related: A Step-by-Step Guide to Building a Community for Your Business

Starting a coaching business today isn’t just about setting up a website and offering a service. It’s about building a reputation based on real results, authentic communication and value. The coaches who succeed focus on helping clients first and selling second. So, if you’re serious about starting a coaching business that’s credible and impactful, remember: Trust and authenticity are everything.

Clients want guidance they can rely on, so give them that — and watch your coaching business grow for the long haul.

As an entrepreneur with 17 years of experience and now working on my fourth company, I’ve become hyper-aware of how vital it is to protect company culture. Building a successful company is about much more than hitting revenue goals or scaling quickly — it’s about fostering a healthy, vibrant workplace where your team can thrive. A toxic culture will undermine that faster than you can imagine.

Here are some hard-learned lessons I’ve gathered over the years about identifying toxic culture and, more importantly, how to fix it before it’s too late:

1. Toxic culture doesn’t always look toxic at first

It’s easy to think of toxic culture as blatant negativity, conflict or disrespect. But in my experience, it starts in much more subtle ways: passive-aggressive comments, cliques forming, communication breakdowns and employees feeling like they can’t speak up.

At one of my earlier companies, I didn’t notice these red flags until they started showing up in our results — people missing deadlines, more frequent sick days and a noticeable dip in team morale. By the time I realized it, the culture had already started to rot from within. Toxicity starts small, but its impact grows quickly.

Related: These Toxic Behaviors Are Employees’ Biggest Frustrations – Is Your Company Guilty of Them?

2. As a leader, you set the tone — always

One of the biggest mistakes I’ve seen leaders make is thinking culture will take care of itself. It doesn’t. You, as the entrepreneur or business leader, are responsible for setting the cultural tone.

As a leader, make a conscious effort to lead by example. That means being transparent with my team, reinforcing our core values, and creating a space where everyone feels heard. It’s not enough to say you have great company values — you have to live them every day. If the leader isn’t walking the talk, no one else will either.

Keep a pulse on your team’s dynamics. Regularly check in with employees at all levels — not just your managers — to uncover the unspoken problems that might be festering.

3. Toxic culture drains talent — and fast

It’s not just productivity that suffers when a company has a toxic environment — it drives your best people out the door. One of the most painful lessons I learned early on was losing talented employees because of issues I didn’t address in time.

A toxic culture drains creativity, enthusiasm and the desire to stay. One powerful way to build the culture back into your company is for all employees to take ownership of their work, collaborate freely and feel proud to be part of something meaningful. When your team feels valued and supported, they’ll stick around. They’ll leave when they don’t, no matter how great the product or pay is.

Related: Do You Work for a Toxic Company? Here Are 4 Not-So-Obvious Signs to Watch Out For.

4. Don’t wait — address issues immediately

If you see signs of toxicity — address it immediately. Delaying is dangerous. In my experience, waiting to have tough conversations only allows the problem to fester. Whether it’s poor communication, office politics, or someone undermining your company values, these issues must be confronted head-on.

I’ve adopted a zero-tolerance policy regarding behaviors that threaten our culture. That doesn’t mean being ruthless — it means being firm about what the company stands for and making sure everyone aligns with that vision. Sometimes, tough decisions have to be made. Letting toxic behavior slide, no matter how small, is a slippery slope.

5. Culture is a living thing — nurture it

One of the most important lessons I’ve learned in 17 years as an entrepreneur is that culture isn’t static. It evolves as your company grows, your team changes and new challenges arise. That’s why I’m constantly checking in with my team—gathering feedback, assessing the vibe and making sure we’re staying true to our values.

Protecting your culture is an ongoing process. It’s not something you can set and forget. You need to nurture it, keep it in check, and make sure it’s growing in a healthy direction. At the end of the day, your culture is one of your greatest assets — don’t take it for granted.

Related: If You Do Any of These 3 Things, You Might Be a Toxic Co-Worker

Ways to be proactive in creating a great culture

1. Hire for culture fit, not just skill: When we hire, we don’t just look for the most qualified candidate; we look for people who align with our values and bring a positive attitude to the team. It’s easier to teach skills than it is to fix a toxic personality. Make cultural fit a key part of your hiring process — you can’t build a great culture with people who don’t align with your vision. This is a fiery topic, though. If you weigh too much on culture fit, you could hurt your company culture – don’t overlook the necessary and critical skillsets required. When you fill a company with wonderful people who lack the skills, those with the skills tend to be frustrated very quickly.

2. Create a feedback-rich environment: I’ve found that creating an open environment where team members feel safe sharing feedback is essential to maintaining a healthy culture. Encourage regular, honest communication, whether that’s through structured reviews or casual check-ins. We make it a point to listen—both to celebrate wins and to identify areas where we can improve. Take the time to have monthly scorecard meetings. Identify topics you wish to discuss ahead of time, send them to your team, and give them the chance to come ready to engage in meaningful conversations.

3. Celebrate wins, big and small: Building a great culture isn’t just about avoiding the negative — it’s about celebrating the positive. Recognizing achievements — whether it’s hitting a big milestone or overcoming a tough challenge — boosts morale and strengthens the bond between team members. Small gestures of recognition can go a long way in creating a positive and motivated team.

On Thursday, the Federal Reserve’s Federal Open Market Committee (FOMC) announced that it would lower the federal funds rate by 25 basis points (bps), or 0.25%, because of “somewhat elevated” inflation and an unemployment rate that “moved up but remains low.”

The rate is now 4.5% to 4.75%, down from 4.75% to 5%. A lower federal funds rate, or borrowing rate that banks charge each other, means lower borrowing costs on credit cards and personal loans — so there’s a ripple effect that could directly affect your wallet. Banks decide individually how to respond to rate cuts.

The news aligned with analyst expectations.

“We continue to expect the Fed to ease policy by 25bps at every meeting through June next year amid resilient but moderating growth and cooling labor market trends,” EY chief economist Gregory Daco told Entrepreneur in an emailed statement ahead of the Fed’s announcement.

The Fed previously cut rates by half a point in September, in its first reduction in four years. The next FOMC meeting, scheduled for December 17 through 18, is the last one of the year; Daco, as well as EY colleague and senior economist Lydia Boussour, both expect another rate cut of 25 bps then.

^{Federal Reserve Chair Jerome Powell. Photographer: Al Drago/Bloomberg via Getty Images}

Daco wrote that after the Fed cut rates by an “outsized” 50 bps in September, it would opt for a more “gradual recalibration” in November because of “ongoing disinflation and softening labor market momentum along with strong productivity growth.”

Related: A Fed Rate Cut Finally Happened For the First Time in 4 Years. Here’s How the Decision Will Affect Your Wallet.

Elyse Ausenbaugh, Head of Investment Strategy at J.P. Morgan Wealth Management, also told Entrepreneur in September that the 50 bps cut in that month “creates some breathing room to go at a slower (or every-other-meeting) pace” for subsequent meetings.

The CME FedWatch Tool, a measure of the latest probabilities of FOMC rate changes, agreed with Daco and Ausenbaugh’s predictions of a slower rate cut pace. It placed the likelihood of a 25 bps cut in November at 99.1% before the decision was announced.

Related: ‘Stage Is Set:’ EY Senior Economist Expects Three Rate Cuts Before the End of the Year

Japanese automaker Nissan reported a loss on Thursday for the fiscal quarter, leading the company to announce it is cutting 9,000 people, around 6% of its workforce. Nissan models did not sell well in the U.S. last quarter.

Makoto Uchida, Nissan’s CEO, told reporters that he is taking the situation “very seriously,” according to the AP—and cutting his salary in half.

Related: Should CEOs Take a Pay Cut to Avoid Layoffs and Cutting Jobs? It’s Complicated, Experts Say

Uchida said he was taking a 50% pay cut and the company is cutting its production capacity globally by 20%.

In 2022, Uchida made ¥673m (around $4.5 million), per the BBC.

“Nissan will restructure its business to become leaner and more resilient,” he added.

Uchida isn’t the first CEO to reduce their pay when business is down.

In 2023, Zoom CEO Eric Yuan cut his salary by 98% amid a layoff announcement. Later that year, Container Store CEO Satish Malhotra took a voluntary 10% pay cut so that staffers could receive merit bonuses.

In 2013, Nintendo’s CEO famously cut his salary in half to avoid layoffs.

Related: CEO of Tesla Rival Drops Salary to $1 to Cover Bankruptcy Costs

The Federal Trade Commission banned businesses from writing and buying their own reviews in an August ruling. Now, it’s alleging that a customer review site, Sitejabber, published “misleading” ratings and reviews on behalf of the 130,000 businesses on its platform. The FTC’s proposed order would stop Sitejabber from “misrepresenting” customer ratings and reviews “in the future.”

The FTC’s complaint alleges that Sitejabber collected reviews at the point of sale, or before customers received or experienced a product or service. In one example, customers were asked to rate their overall shopping experience out of five stars and write something quickly directly after checking out.

Related: Do You Own Pyrex Measuring Cups? The FTC Might Send You a Check in the Mail

These quick ratings and reviews, or Instant Feedback Survey results, become part of a site’s profile on Sitejabber. The FTC says this could mislead people into thinking prior customers rated a business’s product or service highly when they were actually just rating the shopping experience.

“Presenting [Instant Feedback Survey] results as post-fulfillment reviews and ratings can mislead consumers into believing that a business’s high review count and high rating means thousands of customers have had positive experiences with the business’s products or services, when in fact the ratings and reviews displayed primarily reflected only customers’ experiences shopping on the business’s websites,” page four of the FTC complaint reads.

How to Avoid FTC Scrunity on Your Website Reviews

Businesses can avoid FTC scrutiny by making sure their Instant Feedback Survey ratings and reviews are unentangled from their product ratings and reviews — so customers clearly know what’s being rated.

This is one of the FTC’s first enforcement actions under its new rule.

“Along with our rule on fake reviews and testimonials, cases like this one show that we’ll act to stop all forms of deception in the review ecosystem.” FTC Bureau of Consumer Protection director Samuel Levine stated.

The FTC’s earlier rule on fake reviews and testimonials stops businesses from buying or selling fake reviews, including AI-generated ones.

Related: Facebook, YouTube, WhatsApp All ‘Engaged in Vast Surveillance’ to Earn Billions, According to the FTC

I was profoundly moved a few years back by a poignant quote that I read. American football great Jerry Rice, when discussing his exceptional work ethic and its effect on his career, shared his winning philosophy: “Today I do what others won’t, so tomorrow I can do what others can’t.”

I find this perspective on tenacity and determination to be extraordinarily impactful — for athletes, astronauts and entrepreneurs.

Similarly, a colleague of mine once returned from an industry conference, buzzing with inspiration thanks to the keynote speaker who had captivated the crowd. The keynote toured the world, sharing her business insights, firing up audiences, and drawing significant income from these speaking engagements.

My colleague said he approached the master orator after she got off stage, expressing his own desire to become a professional speaker. “I’d love to do what you do,” he told her. “What advice would you give to someone like me?”

He said she smiled and responded, “It’s true, my life is fulfilling. I get to travel internationally, speak to amazing people, and find immense joy in impacting so many lives, all while earning a great living. The thing is, there are many people who want to do what I do. But only a rare few who are willing to do what I did to get here.”

The athlete and the keynote speaker understand a critical truth: building a successful career, a thriving business or a rewarding life isn’t always glamorous and is seldom easy. Greatness demands stepping out of our comfort zones, going above and beyond, and possessing unwavering tenacity despite the odds of failure. For athletes, that might mean squeezing in 100 extra reps after practice.

For the speaker, this might translate to bombing ten shows in a row in front of an audience but still showing up for the eleventh. For entrepreneurs, that doggedness may manifest in an endless string of cold calls, all-night strategy sessions and reading 50 business books a year.

The math is simple. Those who consistently triumph are those who persist, regardless of the obstacles, odds and inevitable naysayers. Driven individuals view challenges and setbacks not as failures but as opportunities for growth. This mindset allows them to possess resiliency and perseverance while others flounder, throw in the towel or stew over lost opportunities. Building a business can feel impossibly hard and sometimes thankless, but owning and growing a successful organization is also incredibly rewarding and well worth the blood, sweat and tears.

Let’s be real. Not everyone is wired with the relentless mindset and resolve of an all-star athlete. And doubling down after a loss, particularly a big one, might not be your natural inclination. However, developing your ability to be more tenacious and fiercely committed to achieving your goals is an incredibly valuable asset in your journey to business success.

Here are seven hands-on ways to become a more mentally resilient and tenacious business leader:

1. Be ambitious beyond your wildest dreams

Establish lofty goals for yourself and your organization that exist independent of any preconceived caps or barriers.

Dreaming big isn’t just wishful thinking; it’s a growth strategy.

2. Embody unwavering positivity

An optimistic mindset is clinically linked to better physical health, lower anxiety, higher productivity, and increased perseverance. Start by reframing negative thoughts into actionable solutions. Cultivating a positive outlook can empower you to face challenges more effectively and enhance your overall well-being.

Related: 5 Ways You Can Build a Strong Leadership Team

3. Commit to self-discipline

This is a hard one for many of us. Discipline and consistency require an unwavering commitment. So start small and achievable, like eating a healthy breakfast or responding to 10 emails every morning, then broaden the scope.

4. Build your business IQ

Lifelong learning provides you with a steady stream of business insight and is a catalyst for resilient thinking and innovative opportunities. Read books, attend webinars, watch videos. Be a sponge.

5. Break down goals incrementally

Don’t overwhelm yourself by hyper-focusing on your big goals. Instead, break those targets down into a series of achievable mini-goals and the actions that will get you there.

Related: I’m a CEO, Founder and Father of 2 — Here Are 3 Practices That Help Me Maintain My Sanity.

6. Build a strong team

Surrounding yourself with the right people allows you to delegate, lean in, or dial down when needed. Your ability to adapt is highly dependent on the strength, support, and alignment of your leadership team.

Related: How to Assemble a Strong, Dynamic and Interdependent Team

7. Take time for yourself

Even the most tenacious athlete understands the importance of rest and self-care. The same goes for entrepreneurs. Eat right, sleep well, and move your body to best support the clarity and focus you need to keep showing up.

Remember, success isn’t a destination but rather a culmination of habits and activities that continue to move the needle forward. Whether you want to be a sports star, a motivational speaker, or a wildly successful business owner, tenacity and resiliency will always provide you with a strategic edge.