PDF Summary:The 10X Rule, by Grant Cardone

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Setting 10X goals and taking extraordinary steps to achieve them isn’t taught in business schools. But anyone who achieves extraordinary success—whether a CEO, philanthropist, entrepreneur, politician, or athlete—follows the 10X rule, whether they realize it or not. What successful athlete hasn’t devoted extraordinary effort to training and practice?

The 10 Rule can be applied to any personal or professional goal, whether it’s having an extraordinary marriage, starting a hugely successful business, or making $10 million.

Benefits

Besides reaching your goals, living by the 10X standard provides other benefits, including a sense of purpose, increased self-confidence, a way to overcome fears and procrastination, renewed energy, and greater satisfaction. Further, it’s a way to stand out from the crowd, fulfill your potential, and create the life you want.

In business, a think big/act big mindset enables you to overcome obstacles such as competition, economic downturns, disruptions, and client resistance.

Operating at a 10X level is a discipline for approaching and reaching all goals, a way of life, and the way to handle all tasks and projects.

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Extraordinary or 10X goals are, by definition, bigger than what most people can imagine and achieve.

Further, if you’re not working toward your own big goals and dreams, someone else will likely use you to accomplish theirs.

10X Thinking

The 10X Rule means you must set goals that are 10 times what you think you want.

People who are engaged in 10X-level thinking—that is, extraordinarily successful people—don’t aim just at achieving an ambitious goal, for instance, running a successful business. Instead, they aim to totally dominate the area or market they’re operating in, and they’ll take extreme action to do so.

If you want to succeed in a big way, you need to adopt a domination mindset. This mentality isn’t about controlling others, it’s about setting a standard others measure themselves against. Don’t do what other people or companies do—instead, be willing to do whatever they won’t do, even to the point of seeming unreasonable.

Remember, if you undertake any task with a mindset that limits the outcome, you’ll limit your efforts to achieve it. (Chapter 9 looks at how to set your own 10X goals.)

Take 10X Action

There are numerous books, programs, and...

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When you start scaling back your goals, you’re giving up on your dreams and yourself. The urge to adjust the target is a sign you're getting off track. It should prompt you to correct your estimate of what it will take and ratchet up your efforts.

Under the 10X Rule, the goal is never the problem. Any goal is reachable when you persist with the right actions in the right amounts.

Lesson #3: Take Extreme Action

Assume every task or project will take more time, resources, and effort than you expect. Multiply each of your expectations by 10 and you’ll probably be up to the task. If it takes less time or effort, no problem—it’s better to be pleasantly surprised than unpleasantly surprised.

When you’ve marshaled 10 times the resources you’ll potentially need, you’ll be positioned to deal with unplanned problems, such as economic downturns, competition, or market resistance.

If you’re introducing a new product, do 10 times more than you would to promote an established product.

Whatever your project is, tackle it with the 10X Rule, as though your life depends on it.

Lesson #4: Follow Through

When you’ve taken the plunge to pursue a goal, make sure you follow...

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When you begin thinking of success as your responsibility rather than an option, you behave differently. You take the idea of living up to your potential—creating 10X success—seriously because it not only affects you, but also your family, company, coworkers, and colleagues. And because failing to do so is unethical.

The Supply of Success Is Unlimited

People sometimes think of success as being in limited supply—that someone else’s success somehow limits theirs. Or perhaps one person’s achievement makes a less successful person feel inadequate, so they think of success as available only to a few.

But one person’s achievement doesn’t limit anyone else’s ability to succeed. Success isn’t a commodity. For example, Warren Buffett doesn’t see his investment success as being limited by someone else’s strategy. Nor does Buffett's success hinder anyone else’s ability to be successful.

Successful people like Buffett understand that you create success rather than acquire it. And there’s no limit on the success ingredients of ideas, creativity, talent, intelligence, and persistence. You and millions of others can create as much success as you’re capable of, anywhere at any...

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He adopted the attitude that while you won’t have a say in everything that happens to you, you can choose how you respond. Claiming responsibility and control puts you in a position to act to improve your situation going forward.

For instance, if the electricity goes off in your neighborhood, you can think about what you can do next time to minimize the impact. This isn’t an obsessive type of control; it’s a healthy sense of empowerment and a way to find solutions.

Assume you can influence what happens, even in situations you once felt were beyond your control.

Assume Total Control

When you take total responsibility and control of your life, you begin thinking about how to keep problems from occurring. When something negative happens, ask yourself how you can ensure it doesn’t happen again or how you can minimize the chances of a recurrence. The point is to avoid victim thinking.

For example, if someone rear-ends you, you may have a legitimate reason to be upset with them, but refusing to assume the role of victim is more important than venting. Instead, think about how to reduce your chances of being rear-ended—for instance, take a route with less traffic,...

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2) Retreating

People who retreat or backpedal often do so because they fear action will have negative consequences. They may actually have experienced problems like rejection or failure in the past and want to prevent them from recurring, or they just fear them.

The normal human impulse is to push forward or advance into new territory; children display this until being told repeatedly: be careful, don’t touch, or don’t do something that looks interesting. Young adults may be advised to not be too ambitious. Adults who retreat from action make many excuses: the stock market is terrible, so I'm not investing; most relationships fail, so I’m not pursuing one; all politicians are self-serving, so there’s no reason to vote.

All of these instances require a decision against acting and the energy to justify it. However, if you’re expending effort in the first place, why not devote it to success?

3) Taking Average Action

Most people put in an average amount of effort, the amount that seems necessary or enough to get by.

This is the middle-class approach, where people do enough to reach a certain level of comfort, and to create “normal” lives, careers, and marriages....

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Besides declining real wages, the middle class has other problems:

• Many manufacturing and customer service jobs have been moved overseas.
• Higher education and health care costs have skyrocketed.
• More people are outliving their retirement savings.
• More people are dependent on credit.

In other words, a middle-class income is unlikely to provide what used to be considered middle-class security.

(Shortform Note: While the 2008 U.S. Census figures quoted in this book are out of date in defining middle-class income as $35,000 to $50,000 a year, the author’s basic points still apply. More recent figures list the 2017 median household income as $61,372.5; middle income is between $40,500 and $122,000.)

The Middle-Class (Average) Mindset

“Middle” means average—and the concept of living a middle-class life encourages average thinking, being comfortable enough and doing enough to get by rather than having big dreams.

The main problem with average thinking is that it assumes things will always be normal and run smoothly. An average approach can’t withstand adversity, which can occur in any or all areas of life, including finances, career, marriage, and...

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• Choose goals just beyond your reach, which will motivate you. If your goals are so small that you aren’t compelled to think about them daily, you’ll lose interest.

What to Write

• Set goals that encourage or require you to live up to your potential. Approach goal setting with a 10X mindset (big goals, followed by big action equals big success). Remember, the bigger the goal, the more motivated you’ll be to overcome resistance. Further, only big goals generate so much success that they can’t be scuttled by unexpected problems, such as financial or health emergencies.
• Word your goals as though you’ve already accomplished them. Here are examples of Cardone’s 10X goals:
  • I’m in great physical shape.
  • I have a net worth of $100 million.
  • My income is over $1 million a month.
  • I own a home with no debt.
  • I create unique programs that improve people’s lives.
  • I have a top-rated TV show.
• Align your goals with a larger purpose to generate additional motivation and energy. To do this, you must be clear about the reason for each goal. For example, if your goal is to save $100 million, include what you want to do with the...

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• Learn from would-be competitors, but don’t emulate them. Walmart founder Sam Walton visited other top-performing chains to see what they did well—then dominated at those practices to such an extent that the others dropped them. He turned others’ specialties into his own unique advantages.
• Outwork everyone else. Although you may have fewer resources to promote your business, you can do 10 times as much social media posting, cold calling and visits, email solicitations, and networking. Act at levels others consider over the top or unreasonable.

Devote all of your thinking and actions to dominating your market, not competing.

Myth 2: Time Management

The focus of so many seminars and self-help articles on time management undermines 10X thinking. People think in terms of having a shortage of time and needing to achieve balance by giving up things they want. Instead, focus on maximizing your time by devoting it to 10X-level goals and action.

Balance Versus Abundance

When people think about improving time management, their goal is usually balance. However, it’s either/or thinking that limits your success—for instance, you might think you can’t have a...

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In a financial crisis or economic slump, most companies contract, cut spending, and put major projects on hold.

However, scaling back is retreating and ignores the 10X Rule, which requires extreme action. Others’ hesitation or cutbacks offers an opportunity for you to expand your market presence.

Remember, your goal is to dominate your market to the point that your name is synonymous with your field. That’s why, during the 2008 recession, Cardone boosted staff and marketing, as well as applying 10X efforts to make more client contacts and step up production of training materials and programs. As a result, he increased his market share.

If the economy, or any other outside force, leads you to scale back, you won’t control your destiny. The answer is always to take 10X actions, regardless of what the economy or other people are doing.

Obsession

Being obsessed with something is often seen as negative. People who are passionate may be viewed as crazy or off-balance, as workaholics, or as not “having a life.” However, in this world of short attention spans, the single-minded pursuit of extraordinary goals should be seen as a gift instead of a flaw. Obsession is a...

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• They tell themselves they need more time prepare, or
• They tell themselves, “This isn’t a good time.”

Either of these just gives the fear more time to build. Instead, immediately do the thing you’re apprehensive about. The only thing that will banish fear is action.

2) Fear of Criticism

Like fear, criticism is another sign you’re headed in the right direction. It’s a common result of the attention you get from becoming successful or taking extreme efforts.

You’ll be judged by those who feel threatened by your success (they believe the supply of success is limited), those who feel inadequate because they’re taking minimal action, or those who are simply envious. Sometimes, people deliver criticism in the form of advice: they tell you you should take more time off, stop working so hard, or stop going all out for certain clients who aren’t worth it.

But if you back off due to criticism, you’ll only shortchange yourself. Remember, success isn’t about being popular, it’s your duty. Further, when you keep working at 10X levels, your critics may come to admire you. In any case, the best response to criticism is 10X success.

3) Making Excuses

Everyone...

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Take Action

Welcome change: Constantly seek ways to improve how you do things, anticipate economic trends, and identify and seize opportunities. Change keeps you excited and motivated.

Always say yes: Say yes to opportunities until you’ve become so successful you have to start saying no to manage your time. Saying yes to everything opens you to new experiences, adventures, solutions, and greater success.

Take constant action: Make action a habit. Always be doing something, even while on vacation—never stop doing things to get attention for your products and ideas. Not every action will pay off immediately, but cumulative action will generate extraordinary results.

Commit first, then figure it out: Fully commit yourself to whatever you plan to do; then work out the details. When you act instead of waiting, you outmaneuver competitors. Your commitment spurs your creativity and problem-solving.

Be highly motivated: To do 10 times more than the next person, you need to be highly motivated. Constantly set new and higher goals for yourself. Use your successes to inspire and motivate yourself to achieve even more.

Work smarter: Don’t just work hard,...

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Act now (not a few minutes from now) and keep acting with the assurance that by doing everything in your power in the present, you’re creating the future. Nothing—whether it’s financial problems, fears, past failures, or other challenges—is bigger than your ability to dream and act at 10X levels.