Grant Cardone – The 10X Rule – Book Summary

Introduction:

    • Every single successful person uses the 10x Rule.
    • Almost EVERY SINGLE PROBLEM IN YOUR LIFE can be solved by taking more action.
  • The 10x rule is as-follows:
    • Whenever you set a goal, set it 10X higher than you’d like.
    • Whatever actions would take to achieve it, multiply your expectations by 10x.
  • You will be wrong about 100% of the time in your expectations of what it will take to achieve your goals, and then incorrectly identify what it will actually take to accomplish them and get discouraged and deem them “unattainable”. If you prepare in advance for 10x your thoughts and 10x your actions, you will surely hit your mark and more.
  • Most people and companies set goals and lower their aims as they realize that the current efforts will not allow them to reach their targets. NEVER, EVER REDUCE YOUR TARGETS.
  • If you lose motivation, or get off-track, it means your initial estimation isn’t wrong, the 10x rule assumes the target is never the problem. Any goal attacked with the correct amount of action over enough time will be achieved.
  • 99% of the time failure is caused by a low estimation of the actual efforts involved in the project.
  • Multiply every expectation you have by 10x and you should be safe.
  • Pretend you’re being recorded and every moment you act will be used as a teaching to your kids and students.

Success is your duty and ethical obligation:

  • Anyone who tries to minimize the importance of success to you has probably give-up on himself and is trying to make others do so as-well.
  • Success must be approached from an ethical viewpoint. It is your ethical duty and obligation.
  • If you’re not obsessed about success there’s almost no-chance you’ll get it.
  • Failing to insist upon abundant amounts of success is un-ethical.

There is no shortage of success:

  • There is no limit to the amount of success anyone can create. It’s unlimited and there’s no shortage of it.
  • Success is created, not acquired, it doesn’t depend on resources or supplies, that’s why it has no limits.
  • There is no shortage of success.

Take responsibility and control over everything:

  • Success doesn’t happen to you, it happens because of you.
  • Successful people take responsibility of everything in their life.
  • If you’re willing to take responsibility when you WIN, take responsibility also when you LOSE!

4 Degrees of Action:

  • Disciplined, persistent, massive action, is the biggest ingredient of success.
  • There are 4 Degrees of Action:
      • Doing Nothing: Not doing anything takes a lot of effort because you still have to cope with your shit life and make excuses for not being where you want to be.
      • Retreating: These people take action in reverse direction to avoid bad emotions. Any realm where you believe you could never be successful is an area you have retreated in. These people will spend as much time and effort giving excuses as the successful person will towards his success.
      • Taking Normal Action: This level of action creates the middle-class, this is the most dangerous type of activities because it’s encouraged, supported and creates an “average” level of lifestyle. The problem is that the moment the economy or anything in your life takes a negative turn of things, the “average” lifestyle is drastically in danger.
      • Taking Massive Action: Massive action is the most natural state of action for us, children are not apathetic or retreating, they just take action all day long. Life is in the action and movement.
    • Since not being successful takes the same amounts of efforts as being successful, just change your focus and you’ll take actions towards success instead of failure.
    • Massive action is what creates bigger levels of problems. If your problems are not getting bigger and bigger you’re not taking enough action.
    • Massive amounts of cold-calling had created most of Grant Cardone’s work-ethic and success.
    • Keep taking massive action until it’s a natural habit.
    • You have to approach every single day as-if your life depends on taking massive action.
    • Your only problem is that nobody knows you or your product/service, if they don’t know you or your product/service they can’t buy from you!
    • The only way that people can know you is to take massive, sick levels of action so that everyone will know you!
    • You’ll never have someone more successful that you seeing your excessive levels of action as unreasonable.
    • You’re only going to be judged by the mediocre! They can’t even stand seeing someone taking these massive levels of actions!
    • It’s better to suck and be seen than not being seen at all. Even actors who suck still work because they are being SEEN. Maybe you suck but they think you’ll be good for another part!
  • Money and power follow attention, whoever takes the most action will have the most money and power!
  • Taking MASSIVE ACTION will help solve your OBSCURITY, WHICH IS THE SINGLE-BIGGEST HURDLE TO YOUR SUCCESS.

Average Is a Failing Formula:

  • As technology evolves, average is no longer acceptable.
  • Instead of hating CEOs for making so much money, working so little, ask how they got there!
  • Long after his employees went home, the billionaire founder of Starbucks traveled and asked clients how he can improve his chain!
  • When AVERAGE ACTIONS encounter resistance, you will fail.
  • When you start resting on your assets you will be susceptible to negative events. Average levels of ANYTHING will ALWAYS fail you EVENTUALLY.
  • Once you start coasting you’re going to start losing what you have.
  • Average = A disaster waiting to happen.
  • Multiply every variable by 10x and you SHOULD be safe.
  • TREAT SUCCESS AS CARRYING A 50KG BAG FOR 50 KM UPHILL AND YOU’LL BE SUCCESSFUL.

10X GOALS:

    • The ONLY reason people quit on their goals is because their goals are not big enough, which means they won’t be excited enough, won’t be persistent enough and won’t take action enough!
    • Make your goals substantial enough so that they keep your attention! Don’t set realistic goals!
  • REWRITE YOUR GOALS EVERY SINGLE MORNING AND NIGHT, WORD THEM AS-IF YOU’VE ALREADY ACHIEVED THEM.
  • ATTACH YOUR FINANCIAL GOALS TO THINGS THAT MATTER TO YOU SO THAT THE MONEY HAS CONTEXT.
  • JUST LIKE DAN PENA, GRANT CARDONES’ BIGGEST REGRET IS NOT SETTING 10x HIGHER GOALS.

Competition:

  • Competition is bad for you, it limits your thinking and creativeness.
  • You don’t want competition; you want to aim for DOMINATION.
  • Never make it your goal to compete, make it your goal to DOMINATE.
  • THE BEST WAY TO DOMINATE IS TO DO WHAT OTHERS DON’T DARE TO DO. YOU WANT AN UNFAIR ADVANTAGE.
  • NEVER PLAY BY THE RULES IF YOU WANT TO DOMINATE.
  • YOU WANT TO BE SO SUCCESSFUL THAT ALL YOUR COMPETITORS WILL HAVE TO THINK OF YOU FIRST WHEN THEY WANT TO TAKE ACTION.
  • FIRST YOU GET IGNORED. THEN THEY COMPLAIN. THEN YOU GET THE ADMIRATION.
  • Even if they’re COMPLAINING, they’re still THINKING about you!
  • AGAIN, YOUR BIGGEST PROBLEM IS BEING OBSCURED!!!!!!
  • TAKE ACTION IN AMOUNTS AND INTENSITY THAT NO-ONE ELSE WOULD EVEN CONSIDER TO TAKE, AND YOU WILL DOMINATE!
  • WEAK MARKETS CREATE OPPORTUNITIES BECAUSE COMPETITION IS RETREATING!
  • THE MARKET WILL PUNISH ANYONE THAT DOESN’T TAKE ENOUGH ACTION!
  • IF COMPETITION IS HEALTHY, DOMINATING IS INVINCIBILITY!
  • Sick levels of persistent, smart follow up could result in multiplying sales.

Breaking-out of the Middle-Class:

  • The middle-class is the most manipulated and used group.
  • Having a million dollars isn’t a lot of money once you actually have a million dollars because your thinking and spending changes.
  • If you need 10k it means you actually need 100k.
  • IF YOU OPERATE ON THE LEVEL OF WHAT YOU NEED YOU’LL ALWAYS SCRATCH ON WHAT YOU HAVE.
  • The middle-class is less of a financial state and more of a mental-state.
  • The Middle-Class Squeeze: people who make average income can’t keep up with the costs of inflation as jobs and wages keep being reduced.
  • This group’s average income and net-worth is STEADILY DECREASING.

OBSESSION, TAKING ACTION and OVER-COMMITTING:

  • The only way to become successful is to become absolutely obsessed with your goals and seeing them through.
  • There is no limit to how much energy you have.
  • There is no limit to how much actions you can take.
  • There is no limit to how much all-in you can act.
  • The more you commit and promise the more efforts you make.
  • You need to make over-promises and over-commit.
  • INCREASE the NUMBER OF PEOPLE YOU VISIT + THE AMOUNT OF HOW MUCH YOU COMMIT TO EACH PERSON.
  • You need new problems; it means you’re in the right direction! You need to face new problems all the time. DON’T BE AFRAID TO OVER-COMMIT!
  • THE REASON SALESPEOPLE FAIL IS BECAUSE THEY FAIL TO MAKE ENOUGH PROPOSALS WITH ENOUGH INTENSITY.

EXPAND, NEVER CONTRACT:

  • 99% of people are not taking massive action.
  • NEVER contract as a new business model.
  • Repeated attacks over a long-period of time always produce results!
  • Society trends always come late, do the opposite!
  • The more your competition contracts because of recessions, the more you want to expand!
  • YOUR MOST VALUABLE ASSET IS YOUR ENERGY AND ACTION.
  • “I’d rather die pushing forward than die pulling backwards.”
  • ONLY RETREAT TO COME BACK WITH MORE ENERGY AND ACTION.
  • You will probably eat and sleep less and only be energized by the anxiety and adrenaline of achieving your goals.
  • THE BEST WAY TO DOMINATE THE COMPETITION IS TO CREATE SUCH FIRE THAT EVEN YOUR COMPETITION GETS FIRE FROM YOU.
  • THERE IS NO SUCH THING AS TOO MUCH FIRE. THERE IS NO SUCH THING AS TAKING TOO MUCH ACTION. THERE IS NO SUCH THING AS EXPANDING TOO MUCH ENERGY.
  • THERE IS NO SUCH THING AS CREATING TOO MUCH ABUNDANCE.
  • YOUR IMAGINATION AND IDEAS ARE PROPORTIONAL TO YOUR ABILITY TO TAKE MASSIVE ACTION.
  • OVEREXPOSURE IS NEVER THE PROBLEM, OBSCURITY IS THE PROBLEM.
  • ONCE PEOPLE SEE YOU’RE SO OBSESSED YOU WON’T STOP THEY WILL GET OUT OF YOUR WAY.

FEAR IS THE BEST INDICATOR:

  • An absence of concern means that you’re not pushing yourself.
  • The ONLY thing that should scare you is THE LACK OF FEAR.
  • FEAR = False Expectations APPEARING Real.
  • Use FEAR as a GREEN-LIGHT to know what you SHOULD DO!!
  • DO IT QUICKLY. DON’T FEED FEAR WITH TIME!
  • REMEMBER, ONLY BY TAKING ACTIONS EVERYONE ELSE REFUSES TO TAKE YOU CAN DOMINATE THE MARKET.
  • THE MORE YOU CONTEMPLATE AND WAIT THE MORE YOUR FEAR WILL GROW.
  • LAST-MINUTE PREPARATION IS ONLY ANOTHER EXCUSE NOT TO TAKE ACTION, IF YOU’RE NOT READY BECAUSE YOU LACK KNOWLEDGE IT’S TOO LATE ANYWAY.
  • THE MOMENT YOU EXPERIENCE FEAR IS THE BEST MOMENT TO TAKE ACTION.
  • THERE IS NO CHOICE BUT TO ACT, THERE IS NO NEED TO PREPARE, IT’S TOO LATE TO PREPARE.
  • IT’S FAR-PREFERABLE TO FAIL WHILE YOU ACT THAN TO FAIL WHILE YOU PREPARE OR WAIT.
  • TAKING MASSIVE ACTION QUICKLY ON YOUR FEARS WILL MAKE YOU APPEAR UNSTOPPABLE.
  • IF YOU GIVE FEAR EVEN A BIT OF TIME TO GET OXYGEN IT WILL GROW! REMOVE TIME AND YOU WILL DESTROY FEAR!
  • ALWAYS USE FEARS AS YOUR INDICATOR OF WHAT ACTION TO TAKE NEXT!

Time-Management and Balance:

  • The people who believe in balance and time-management are usually those who believe in a scarcity of them.
  • Don’t be interested in balance, be interested in ABUNDANCE.
  • Unsuccessful people think in-terms of LIMITS, successful people think in-terms of HAVING IT ALL.
  • How are you spending your available time? You have 168 hours available EVERY WEEK!
  • Your time is your GREATEST asset. Multiply it by leveraging with employees!
  • Truly successful people don’t consider work as work, but as a hobby. Make your work a RACE to see how much you can get done in the shortest time possible!
  • LOG HOW YOU SPEND YOUR TIME EVERY DAY.
  • DELETE ANY ACTION THAT DOESN’T ADD FIRE TO YOUR LIFE.
  • How much time are you spending on meetings that have no business opportunities?

Criticism:

  • When you start taking massive action and getting attention you will start to get criticism, this is a good sign you’re getting attention!
  • You need to expect and anticipate criticism as a result of taking action.
  • People criticize you because they feel threatened by you.
  • Any criticism you get is a sign that the criticizer is threatened by you.
  • Receiving complaints about following up too much is a sign that you are taking aggressive action towards success. The more criticism you get the better you are performing!
  • Those who criticize you will eventually praise you for your success.

Customer Satisfaction is the WRONG Target:

  • Don’t worry about customer satisfaction as-long as you over-deliver (10x) to your clients!
  • You only need to worry about people who don’t know you and people who need your product but don’t have it!
  • The only REAL customer satisfaction problem IS THE PERSON NOT EVEN BEING YOUR CUSTOMER!!!!
  • FIRST GET WHAT YOU WANT, THEN FOCUS ON KEEPING IT.

Burn the Place Down:

  • Once you start taking action you must continue until the fire is so hot and burns so brightly until not even market changes and competitors will stand a chance against you.
  • You have to take more and more massive actions, it will get easier and easier the more you take massive action.
  • Massive action creates success, and success only fuels more succes.
  • You must create inertia until you can’t stop taking massive action.
  • Only the paranoids survive.”
  • Success demands continuous attention, you must continue to tend it, otherwise it will slowly die.
  • Always keep the 4 levels of action in-mind:
    • Doing Nothing
    • Retreating
    • Average Action
    • Massive Action
  • The 10x rule is about creating success in amounts great enough that you are constantly in total control.
  • Massive action is designed to move you past your peers and off the treadmill.
  • You have an unlimited abundance of actions.
  • The more you open up to massive action the more brilliance and ideas your brain will open-up to.
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