Last year, I read a book by Felix Dennis. The title—How to Get Rich—isn’t my favorite, but it grabs people’s attention. The book is about succeeding as an entrepreneur, which leads to wealth—it’s not just about how to get rich. Dennis shares numerous lessons he learned the hard way as he built several companies, including Maxim magazine.

The book is a good read and contains lots of useful lessons for entrepreneurs. To see my takeaways, read my blog post series here.

One takeaway that stuck with me is about persistence and stubbornness. I regularly ask myself if I’m being persistent or stubborn when things aren’t going as I’d hoped. Here’s how Dennis describes the difference between the two:

Persistence is having the conviction that you’re right about something and that your point will be confirmed in the future (hopefully shortly). You simply keep going until you’re proven right. This is what entrepreneurs are known for. Simple enough, right? Well, how does persistence differ from stubbornness? Stubbornness is a form of persistence. You persist at something because you think you’ll be proven right. Stubbornness comes in when data or other evidence points to your likely not being right. Said differently, stubbornness is persisting even though signs are pointing to your being wrong.

Persistent people keep going, but they pay attention to red flags. If they’ve made a mistake, they change their plans. They persist, but in a different way—one that’s more likely to be successful. Stubborn people keep going and never course correct when they should.  

I think of persistent people as rational, clear thinkers. They’re grounded in reality and have the mental flexibility to acknowledge when they’ve made a mistake or bad decision. They acknowledge their error, regroup, and refocus their energies on the right activities so they can still achieve their goal.

I was stubborn once. I ignored signs that I was going hard in the wrong direction, and I regretted it. I vowed to do my best to avoid those kinds of mistakes going forward. Since reading Dennis’s book, I regularly ask myself if I’m being persistent or stubborn. I look for signs or data points that signal that I might be right. If I can’t come up with any, I know I’m likely being stubborn and need to course correct and put my energy into different actions that still align with my goal.