Everyone knows who Mike Tyson it is. After all, he is a boxing legend. His mindset of determination, mental toughness and adaptability is a blueprint for business success as well as boxing. That is why I have adopted his principles for my business.

Understanding how to use the same discipline, focus and consistency as Tyson can transform your business and give it a competitive edge. This did it for me.

Related: 4 things entrepreneurs can learn from Mike Tyson

1. Focus on the goal

Tyson was laser focused on his goal of becoming the youngest heavyweight champion of the world. That and discipline made him dominate the ring.

FOCUSING it is important to the long-term success of the business. Entrepreneurs are constantly bewildered by challenges and opportunities. Clear vision is necessary to ensure that every decision, big or small, moves you closer to your goals. Each aspect must contribute to the bigger picture.

Focus makes it easier to ignore the noise and focus on what's important to the success of your business.

2. Thrives under pressure

Knowing how to thrive under pressure it is as important to a business leader as it is to a boxer. Tyson adjusted in the ring when the challenger put him under pressure. He faced unexpected moves, but learned how to change his strategy to turn the match in his favor. It was a force in his career.

Business leaders get into a rut of thinking there is only one way out of a situation when there are many. Look at all your possible strategies and change course.

Running a business has many hidden challenges and unforeseen events. Pivoting keeps you competitive. You must remain flexible in adopting and changing strategies, especially when what you are doing is not working. Tyson is an example that survival and success come to those who are resourceful and change course when necessary.

3. Turning a setback into a comeback

No one successfully avoids all obstacles. Tyson faced financial problems, public backlash, and personal problems that could have ended his career. He always found a way to get back up when he got knocked down, both in and out of the ring. Resilience is what defines legendary boxers and entrepreneurs.

Businesses will experience different types of failure. It is inevitable. A deal may fall through or a strategy may not work. It can feel like everything is falling apart and your world is falling apart. However, you can turn any setback into a comeback. It depends on how you view failure.

Failure does not equal an end. Give you one opportunity to learn and improve. You can come back with a better strategy. Being able to get through tough times is just as important as winning.

You can turn your failure or setback into a strength. It's a matter of changing your perspective to see how you can ultimately benefit. Once you do, you can turn it into messages that promote your return.

Related: Your lowest moments can pave the way for a creative rebirth. Here's how to master obstacles.

4. Development of mental strength and discipline

Every success starts with the mind. Tyson has great physical strength. He was terrifying in the ring. However, it was his mental strength that gave him the advantage. He was dedicated to training and this discipline, which starts with a mental decision, set him apart from his competitors.

It takes persistence and discipline for a business to get through tough times. It may seem like nothing is working, but the decision to never give up and keep going until you see results will give you long-term success. You have to stay mentally sharp, and I do this by creating daily habits that lay the foundation for my vision.

One habit that has helped me is to think ahead about my reaction to all the different scenarios that could happen in a specific situation. I imagine my plan B, C and D. I practice what I would say. The scenario may never happen, but I'm ready to react quickly if it does.

5. Belief in your own strength

Tyson knew he had all the skills to win the match. He understood what they were and how to use them in the ring. Business leaders must also recognize their unique strengths and have the confidence to use them. Your strengths set you apart. How you use them to build your business depends on your confidence and creativity.

You may need to think outside the box to figure out how use your strengths to the greatest advantage. It may take some experimentation to find the best way to use them. That's okay. Tyson didn't get the strategy right out of the gate either.

Playing to my strengths has been essential in my business. Identifying what I do best and honoring those gifts helps me stand out in a crowded marketplace. Like Tyson, I don't try to be like everyone else, but focus on what makes me unique. I have skills and talents that others do not and I am constantly working to build my business around my core strengths.

6. Pursuing opportunities without fear

Tyson faced older, stronger and more experienced opponents when he began his career – however, he was fearless. He took courage from his belief in his abilities. Business leaders need the fearlessness to pursue opportunities. Fear of failure it can hold you back because it prevents you from taking a risk that could be a huge catalyst for your business.

You cannot accept every risk. Any risk should be calculated and is evaluated. Tyson assessed risk and made strategic decisions based on perceived reward. I do the same thing every time I'm faced with a bold decision. This helps me approach every decision with confidence and trust that it will work out. You can win in business, but only if you enter the ring.

Related: 8 Resources Powerful enough power to overcome the fear that holds you back

Mike Tyson's attitude offers lessons for those looking to improve their businesses. His mindset, emphasizing focus, discipline, adaptability, ENDURANCE and courage, can help any business leader. This mindset helps me set daily business goals. These attributes help me create habits that create a successful business strategy.