7 Things I Learned from Reading The 10X Rule
I recently listened to The 10X Rule by Grant Cardone on Audible. And let me tell you, it was a GAME CHANGER. Honestly, I cannot recommend this book enough. If you’re an entrepreneur, college student, stay-at-home parent, anyone – you need to read (or listen to) this book.
In the book, Grant Cardone gives an in-depth explanation of what the 10X rule is, but for the sake of this blog post (and not spoiling everything in the book), I’ll summarize. There are 2 parts to the 10X rule. The first is that you must set goals that are 10 times what you initially dream of. The second is that you take 10 times the actions you think it will take to achieve your 10X goal.
So with that established, here are the top 7 things that I personally learned from The 10X Rule:
1. Set unrealistic goals
We’re constantly told to be realistic and to set goals you know you can achieve. But if you know you can achieve it, then why bother setting it. Goals should stretch you and be challenging, otherwise it wouldn’t be a goal, it would just be an item on your to-do list.
2. You can have a goal you know you’ll never achieve
You can have one goal that is so massive that it’s more of a guide than a goal. For example, you could have a goal that everyone on the planet has tried your product. It’s more than unrealistic, is simply impossible. However, you can use that overarching goal as a guide for all of your other goals and actions. So when you’re making business decisions you can ask yourself, will doing this help move towards getting everyone on the planet to try my product?
3. Write down your goals more than once
Grant suggests to write down your goals first thing in the morning, before you go to bed, and anytime throughout the day that you’re feeling stuck, discouraged, or tired. I started this habit and it’s more effective than I anticipated. By writing your goals this often it keeps them front and center of all your decisions. When you set goals once and only write them down once, then it’s easy to forget them and stray from those goals.
4. Assume responsibility for everything, even things out of your control
Things happen that are out of our control, that’s no secret. But instead of complaining about those things, assume responsibility. You’ll be a lot better off and get a whole lot farther in life than the people who sit around acting like victims.
5. Make the most of your time
Grant has a whole chapter about what he calls “the myth of time management.” At the end of the chapter he asks “how much time do you spend on wasteful activities each day?” This got me thinking – how much time do I waste? I wanted to know the exact number of minutes, or hours. So I started a new habit. Every day from the moment I wake up to when I go to sleep I record how I spend every minute. Turns out, I never got my answer of how much time I waste because the exercise in itself forced me to be so conscious of how I spend my time. I’ve become exponentially more time efficient. It’s actually incredible the amount of things I’ve been able to accomplish in 1 day, just by being aware of time.
6. When the world is contracting, start expanding
Our economy goes through cycles of recessions and economic booms. We’ll always go through these cycles, unless somehow we decide not to be a capitalistic society (unlikely). It’s common knowledge that when we go through a recession, people and companies start to contract. They cut back on expenses, start layoffs, and do whatever they can to conserve. While other companies are contracting, start expanding! Which leads me to number 7.
7. You don’t have to spend money to make money
There’s this myth in business that in order to make money you have to spend money. However, this isn’t true. Money isn’t the only resource that we have. We also have creativity, energy and effort. And unlike money, there is never a shortage of those things. If you’re not making the money you want to make but don’t have anything left to spend get creative. Are you making 5 sales calls an hour? Increase your effort and up it to 10. Or 15, or 50! Start waking up an hour earlier each day to create valuable content for your consumers. There may be a shortage of money at some points in your life, but there is never, ever a shortage of creativity, energy, or effort.