Empirically near-identical at ρ = .84. The useful half of grit is the perseverance side of a personality trait psychology has measured for decades. The branding is the novel part.
Side by side
Aspect
Grit
Conscientiousness
Correlation
ρ = .84 with each other
ρ = .84
Age of construct
2007
Decades
Predicts performance
ρ = .18 academic
Comparable
Adds anything new
Perseverance half only
—
What each one means
Grit
Everyday grit is coarse sand or small hard particles — and, figuratively, plain toughness of character. In psychology it names a specific construct, perseverance and passion for long-term goals, sold as the hidden predictor of success and shown by meta-analysis to be largely conscientiousness under a new name.