--- title: Perseverance – The Vital Ingredient in Business description: There are many attributes that make a person good at business and entrepreneurship. Creativity, a willingness to learn new skills, open-mindedness... image: https://www.altusfinancial.com.au/hubfs/Blog_Hero_Images/Vital.jpg --- [![Logo](https://www.altusfinancial.com.au/hubfs/Logo.svg "Logo")](https://www.altusfinancial.com.au/) - [![](https://www.altusfinancial.com.au/hubfs/1.%202017%20Assets/Dark_Phone.svg)](tel:+61289083444) [![Talk with us](https://no-cache.hubspot.com/cta/default/512115/6a87cb2e-17ae-43a1-93c7-da9582e08c36.png)](https://cta-redirect.hubspot.com/cta/redirect/512115/6a87cb2e-17ae-43a1-93c7-da9582e08c36) ##### Accounting & Business Services ##### Wealth Services ##### Lending Sources ##### [Need Real-life Advice?](https://www.altusfinancial.com.au/request-a-consultation) [![Talk with us](https://no-cache.hubspot.com/cta/default/512115/6a87cb2e-17ae-43a1-93c7-da9582e08c36.png)](https://cta-redirect.hubspot.com/cta/redirect/512115/6a87cb2e-17ae-43a1-93c7-da9582e08c36) [![page-1 (5)](https://www.altusfinancial.com.au/hubfs/page-1%20(5).svg "page-1 (5)")](https://www.altusfinancial.com.au) - ![](https://www.altusfinancial.com.au/hubfs/Assets%20Jan%202019/Images/group-14%20(1).svg)![](https://www.altusfinancial.com.au/hubfs/Assets%20Jan%202019/Images/group-17%20(1).svg) - ##### MENU - [![](https://www.altusfinancial.com.au/hubfs/Assets%20Jan%202019/Images/phone-call%20(6).svg)![](https://www.altusfinancial.com.au/hubfs/Assets%20Jan%202019/Images/phone-call-2.svg)](tel:1300832962) - ##### MENU [![Talk With Us](https://no-cache.hubspot.com/cta/default/512115/11099956-4246-4311-83f2-64fc6560f370.png)](https://cta-redirect.hubspot.com/cta/redirect/512115/11099956-4246-4311-83f2-64fc6560f370) - [![](https://www.altusfinancial.com.au/hubfs/Assets%20Jan%202019/Images/phone-call-2%20(1).svg)](tel:+61%202%208908%203444) - ![](https://www.altusfinancial.com.au/hubfs/close.svg) CLOSE - [Instagram](https://www.instagram.com/altus_financial/) - [LinkedIn](https://www.linkedin.com/company/2339369/admin/) - [Facebook](https://www.facebook.com/AltusFinancial/) - [Business (242)](https://www.altusfinancial.com.au/blog/topic/business) - [Strategy (150)](https://www.altusfinancial.com.au/blog/topic/strategy) - [Wealth (142)](https://www.altusfinancial.com.au/blog/topic/wealth) - [Super (56)](https://www.altusfinancial.com.au/blog/topic/super) - [CFO (48)](https://www.altusfinancial.com.au/blog/topic/cfo) - [Growth (38)](https://www.altusfinancial.com.au/blog/topic/growth) - [Business Succession (25)](https://www.altusfinancial.com.au/blog/topic/business-succession) [![Helpful Resources](https://no-cache.hubspot.com/cta/default/512115/11b7293b-309b-4f1b-af85-27ec1dd19a35.png)](https://cta-redirect.hubspot.com/cta/redirect/512115/11b7293b-309b-4f1b-af85-27ec1dd19a35) Request a Consultation - Close![](https://www.altusfinancial.com.au/hubfs/Assets%20Jan%202019/Images/close%20(3).svg) ## Request a Consultation - [Wealth](https://www.altusfinancial.com.au/blog/topic/wealth) - [Super](https://www.altusfinancial.com.au/blog/topic/super) - [Tax](https://www.altusfinancial.com.au/blog/topic/tax) # [Division 296 tax: what high-balance super members need to do now](https://www.altusfinancial.com.au/blog/division-296-tax-what-high-balance-super-members-need-to-do-now) From 1 July 2026, Division 296 will introduce additional tax on superannuation balances above $3 million. 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For high-balance super members, it’s something more significant — a shift that could reshape how sup..... ###### Altus Team #### Latest Posts [Wealth](https://www.altusfinancial.com.au/blog/topic/wealth), [Super](https://www.altusfinancial.com.au/blog/topic/super), [Tax](https://www.altusfinancial.com.au/blog/topic/tax) ##### [Division 296 tax: what high-balance super members need to do now](https://www.altusfinancial.com.au/blog/division-296-tax-what-high-balance-super-members-need-to-do-now) [Business](https://www.altusfinancial.com.au/blog/topic/business), [FBT](https://www.altusfinancial.com.au/blog/topic/fbt), [Accounting](https://www.altusfinancial.com.au/blog/topic/accounting) ##### [Common FBT Questions and Answers](https://www.altusfinancial.com.au/blog/common-fbt-questions-and-answers) [Super](https://www.altusfinancial.com.au/blog/topic/super), [Business](https://www.altusfinancial.com.au/blog/topic/business) ##### [Pay Day Super Is Coming: What SMEs Should Be Doing Now](https://www.altusfinancial.com.au/blog/pay-day-super-is-coming-what-smes-should-be-doing-now) [Lending](https://www.altusfinancial.com.au/blog/topic/lending) ##### [Supporting the Next Generation into Property](https://www.altusfinancial.com.au/blog/supporting-the-next-generation-into-property) [Wealth](https://www.altusfinancial.com.au/blog/topic/wealth), [Budget](https://www.altusfinancial.com.au/blog/topic/budget), [Risk](https://www.altusfinancial.com.au/blog/topic/risk) ##### [Rising Insurance Premiums: What’s Really Going On, and What You Can Do About It](https://www.altusfinancial.com.au/blog/rising-insurance-premiums) [Business](https://www.altusfinancial.com.au/blog/topic/business) - 3 min read ## [Perseverance – The Vital Ingredient in Business](https://www.altusfinancial.com.au/blog/perseverance-the-vital-ingredient) ###### Roy Ditmarsch - SHARE: - [**](http://www.linkedin.com/shareArticle?mini=true&url=https://www.altusfinancial.com.au/blog/perseverance-the-vital-ingredient) - [**](https://www.twitter.com/share?url=https%3A%2F%2Fwww.altusfinancial.com.au%2Fblog%2Fperseverance-the-vital-ingredient) - [**](https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fwww.altusfinancial.com.au%2Fblog%2Fperseverance-the-vital-ingredient) There are many attributes that make a person good at business and entrepreneurship. Creativity, a willingness to learn new skills, open-mindedness, and attention to detail: all of these are extremely helpful in business. But there’s one quality that is absolutely essential to success in [business](https://www.altusfinancial.com.au/business-challenges), and that’s perseverance. ## What is Perseverance? Perseverance is “steadfastness in doing something despite difficulty or delay in achieving success.” Synonyms for perseverance include persistence, tenacity, determination, staying power, indefatigability, steadfastness, and purposefulness.  Starting or running a business is definitely difficult, and delays and challenges occur frequently. Business is not for the faint of heart. Those who develop the attribute of perseverance--and it can be developed if you don’t feel you have it now - find ways to overcome the challenges that inevitably arise in business. ## How to Develop Perseverance Not everyone is born tenacious. Some of us must struggle to develop perseverance, but it can be done. And if you do manage to develop perseverance, you will be able to compensate for other weaknesses. For example, if accounting is not your greatest strength, perseverance will make it possible for you to still get through your accounting challenges. Try the following strategies to become more persistent, tenacious, determined, and steadfast. ### Define Your Purpose Without a clear idea of your purpose, it’s very difficult to want to push through when obstacles block your way. People without a clear purpose become easily distracted. When a challenge arises they find a way to excuse themselves from tackling it instead of facing it head on. Think about what you really want to achieve, and remind yourself of your purpose frequently so you don’t get sidetracked. ### Create a Plan Once you know what you want, you need a plan. If you’re an entrepreneur, perhaps your plan is to create a new business. This plan requires concrete steps, strategy, collaboration, and ongoing support. With a plan in place, you’re better able to make your way through each step, even when the going gets tough. ### Develop Relationships With People Who Support Your Goals Ally yourself with a person or a group of people who care about your goals and will help you to persevere. Of course, in business, you have a built-in team (your co-workers) who should be able to help you with your goals. Unfortunately, sometimes co-workers allow their competition with one another to eclipse their business’s goals. Don’t allow this to happen. Pull together and persevere as a team. If you’ve developed your own perseverance, it will be easier for you to lead your team through challenges. When you’re tempted to give up or settle for less, try pushing a little harder. Be innovative if your normal approach doesn’t seem to be working. Reach out to experts for advice. Give the problem your focused efforts, and block out the negative comments of those who don’t want you to succeed. As you can see, perseverance is the vital ingredient. Do all you can to develop it.    [![New Call-to-action](https://no-cache.hubspot.com/cta/default/512115/9246c974-78d5-4a1b-9bbf-8f308210dc43.png)](https://cta-redirect.hubspot.com/cta/redirect/512115/9246c974-78d5-4a1b-9bbf-8f308210dc43) ### **Could Your Business Benefit from an Outsourced CFO?** Set your business on the right path with this simple guide. 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