The 10X Rule: The Only Difference Between Success and Failure

The 10X Rule is exactly what you would expect from best-selling author Grant Cardone, plenty of information on becoming successful and how action and perseverance leads to that. Let’s jump right into it then. Now there are several summaries of the book available on amazon, I’ve linked the top ranked one above and below in the post, I haven’t read the summary, but I understand those who value their time and want to get the best bang for your money and time. The book is 261 pages, contains 23 chapters and takes approximately 4 hours and 40 minutes to read according to my kindle fire through the kindle app.

The10X Rule begins with an introduction about Mr. Cardone and what the 10X rule is about, which contains various definitions and goes over the psychology of being successful and how he defines it. He describes how limiting your success and being ok with being average, middle class etc. is the ultimate demise and will not bring happiness to those who seek to be above average which would be the demographic he is writing to. A powerful quote from this introductory chapter states that “as long as you are alive, you will either live to accomplish your own goals and dreams or be used as a resource to accomplish someone else’s”. Are you ready for the 10X adventure? Keep reading if you are we are about to get to the good stuff. I should also note at the end of every chapter is a little exercise to evaluate your goals and do a mental checklist of what you want in your life, I am not sure if the summaries also contain these checklists or not, I’m sure in Mr. Cardone’s other reading material you will something similar.

He then goes into why 10X is so vital to success, telling the reader “to never reduce a target” and instead increase action, this will change your mindset of targets and goals and ultimately get you hooked to success and chasing that success. It’s a never ending cycle, accomplish your goals, make more go smash those as well, he also defines success in that way as well, to accomplish a task or an objective and pushing through to the next one and the next one. Chapter 4: Success is your duty is a chapter that speaks dear to me, I feel like I see lots of wasted potential out in the world and in my own life because people don’t want to put in the work or the risk. When, Mr. Cardone and I have a sense that we are obligated to reaching that success to push those boundaries to make the world a better place. Whether you bring a product or service to market to help others or donate millions of dollars to charity like he does, we can all make the world a better place and it is up to the successful people to lead that charge.

In the next chapter, he opens the door to possibilities by saying there is no shortage of success in the world, no scarcity and many people can be successful. This then transitions into the formula for being successful. First step would be to assume control for everything, now this doesn’t mean be a control freak or anything, this chapter describes being responsible for your actions and mistakes. Mr. Cardone’s originally title for this chapter was “Don’t be a little bitch” but backed off to not offend anyone, I think this chapter would’ve rang true with that title but being politically correct helps book sales, so I can see why he didn’t.

Chapter 7 may be the most critical to The 10X Rule, the Four Degrees of Action expose the foundation to success and the 10X Rule, the more action you take, the better your chances are of getting a break. “Disciplined, consistent, and persistent actions are more of a determining factor in the creation of success than any other combination of things.” The Four Degrees of Action are as follows:

  1. Do nothing
  2. Retreat
  3. Take normal levels of action
  4. Take massive action

Now most who would be reading this book and this blog post are in category 3. If you did nothing you wouldn’t have searched this, clicked the link etc. to get to this article. If you retreated when you faced adversity you wouldn’t have made it this far in the article. Now let’s talk about “Take normal levels of action” since that applies to most of us. This is what would be considered normal, which also creates the foundation of the middle-class, this makes it the most dangerous. That’s because this is considered acceptable, doing nothing and retreating are for the most part not acceptable and everyone seems to grasp that concept well. The goal of normal levels of action is to be average however, we’ve seen that average or doing good enough doesn’t always work out when rubber meets the pavement in economic hardships like the recession and the housing market crisis. Mr. Cardone does a better job explaining the details of this chapter than I ever could so I’ll leave it at that. The final degree of action is taking massive action, something that we’ve seen him do time and time again if you follow his companies, social media, YouTube etc. Massive action takes more than just motivation and wanting to succeed, it takes an obsession, it takes borderline insanity, when people start telling you slow down, speed up and keep running past them.

Chapter 8 “Average is a failing formula” reiterates what is discussed in the normal level of actions section and reinforces that just enough isn’t good enough. He goes on to describe the differences between the successful person and the average and what actions you can do to make up that ground, the foremost being taking massive action persistently. Goal setting is the next topic, specifically 10X goals. Remember that quote above about not setting your targets lower but taking more action instead? Do not sell yourself short, a goal that is too easy to accomplish doesn’t further motivate you and will not gear you up to take the massive action necessary for success. The following are to be considered when setting your goals:

  1. You are setting these for you-not for anyone else.
  2. Anything is possible
  3. You have much more potential than you realize
  4. Success is your duty, obligation, and responsibility
  5. There is no shortage of success
  6. Regardless of the size of the goal, it will require work.

The next item discussed certainly threw a curveball to me and perhaps you too, Chapter 10 Competition is for Sissies. What? Competition is for sissies? I said the same thing after reading the chapter title but by the end it all made sense. To the consumer competition is necessary, imagine if there was one cellphone service provider, they could charge whatever they wanted and rake in the profits because we are all so dependent on our phones, but in the eyes of a business competition sucks. Mr. Cardone goes further in explaining how completely dominating your sector, market etc. will bring you success and explains how he acquired omnipresence through twitter until the only name people would turn to for sales programs was Grant Cardone. Hopefully the wheels are turning in your mind a bit, the goal is to completely dominate your competition, be the only thing people think about in your sector, be in the spotlight constantly etc.

Still hung up on the Degrees of Action and the middle class being a failing formula? Don’t worry Uncle G covers the “Breaking out of the Middle Class” in chapter 11 and explains the incomes of the Middle Class. Again, I’ll let him cover that topic since he will out do anything I put on this article. As I am reviewing over the book on my Kindle Fire I see that Chapter 12 is all highlighted up with good reason too. “Obsession isn’t a Disease; it’s a Gift” has lots to dig into so let’s get to it. This chapter goes hand in hand with taking massive action, because the only way you will be able to sustain massive action is to be obsessed with success. “In fact, you want to be so fanatical about success that the world knows you will not compromise or go away.” Mr. Cardone use a metaphor of a fire as your obsession and building it up so that people feel compelled to sit around it an admire it. If you’ve ever sat next to a bonfire you have probably experienced this feeling, how it pulls you in and you can stare into its abyss for hours, in that same way your peers will stare at your success in admiration.

“Most people make only enough effort for it to feel like work, whereas the most successful follow up every action with an obsession to see it through to a reward.”

You just read the quote above but go reread it. Ring a bell? That little bit up above about pursuing goal after goal in an obsessive manner because the goals you set are hard and the 10X actions required to accomplish them gives a powerful sense of satisfaction. Bingo. Here’s another little nugget of wisdom.

“I suggest that you become obsessed about the things you want; otherwise, you are going to spend a lifetime being obsessed with making up excuses as to why you didn’t get the life you wanted.”

Don’t be a little bitch? It’s a full circle baby lets keep going! Next chapter #13, Go “ALL IN” and overcommit, but wait… you aren’t supposed to put all your eggs in one basket. You’re suppose to play it safe, be conservative, etc. etc. But think about it, the term all in refers to poker and you can run out of chips in poker and then you’re done, pack your bags and go home. What if you never ran out of chips and could go all in EVERY SINGLE HAND. Now think about your most valuable “chips”, your mindset, actions, persistence, creativity, and energy. Even if you fail you still have all the chips mentioned above, soooo you only lose if you quit.

“Remember: There are no shortages of how many times you can get up and continue!”

Moving forward we are at chapter 15 “burn the place down” again about the fire of your success that we mentioned earlier. Mr. Cardone mentions that “when you begin to ‘heat things up’ you’ll quickly become aware- even obsessed- with the possibilities before you.” However, about that time you’ll hear the people offering you admiration that you’ve “done enough” or that you should take it easy, slow down, go on vacation. Keep the foot on the pedal, the train isn’t stopping, when you slow down or stop you lose your momentum. If you’ve ever driven in the mud or snow you’re aware how important keeping your momentum is, don’t lose it.

“Fear is one of the most disabling emotions a human being can experience. It immobilizes people, and often, it ultimately prevents them from going for their goals and dreams. Everyone fears something in life; however, it’s what we each do with that fear that distinguishes us from others. When you allow fear to set you back, you lose energy, momentum, and confidence—and your fears will only grow.”

-Chapter 16: Fear is the Great Indicator

We’ve all experience fear before, even perhaps the crippling fear described above. We are challenged with fear when we go “All in”, and each fear conquered adds fuel to your fire, keep your fire burning bright. There are several chapters that go over things specific to business such as customer satisfaction and customer acquisition, and while important I feel like that may not be the best use of your time for the average reader.

Chapter 21: Excuses, we’ve all probably heard them all, Mr. Cardone writes out a very exhausting list of them. Here is how you can get around the excuses and this relates to making success your duty and obligation.

“If you make success and option, then it won’t be an option for you—simple.”

We will end this review and summary with Chapter 22: Successful or Unsuccessful?

Ready? This is the list Uncle G compiled after studying successful people all his life and this is what he found:

  1. Have a “Can Do” Attitude
  2. Believe that “I will figure it out”
  3. Focus on opportunity
  4. Love challenges
  5. Seek to Solve Problems
  6. Persist until Successful
  7. Take Risks
  8. Be Unreasonable
  9. Be Dangerous
  10. Create Wealth
  11. Readily Take Action
  12. Always say “Yes”
  13. Habitually Commit
  14. Go All the Way
  15. Focus on “Now”
  16. Demonstrate Courage
  17. Embrace Change
  18. Determine and Take the Right Approcach
  19. Break Traditional Ideas
  20. Be Goal-Oriented
  21. Be on a Mission
  22. Have a High Level of Motivation
  23. Be interested in Results
  24. Have Big Goals and Dreams
  25. Create your Own Reality
  26. Commit First—Figure out later
  27. Be highly ethical
  28. Be Interested in the Group
  29. Be dedicated to Continuous Learning
  30. Be uncomfortable
  31. Reach Up in relationships
  32. Be Disciplined

Wow that was a lot. The last chapter tells the reader how to get started with 10X, with the key piece of advice being,

“Act now and then keep acting with the knowledge that enough action taken now will create the future.”

Are you ready to start you 10X journey?

If so get yourself a copy of the summary or full book and commit to it, I hope to see you at the finish line one day.

Full version: http://amzn.to/2GRy3VC

Summary: http://amzn.to/2GRN7Te

B^2

January Goal Analysis

I decided in Mid-January after reading part of Grant Cardone’s “The 10X Rule” that I needed to push myself and set some short-term goals to get my finances, blog, social influence, brand etc. all on track. I wrote these goals down on my phone and posted them on my business Instagram as you can see here.IMG_0313.png

Also if you haven’t been following me yet its @bsquared.website and I try to make my posts value oriented and show everyone what I am doing to improve my blog, business, investments etc. Anyways the timeline for that first set of goals was under 2 weeks and as you can see below I didn’t reach most of them.

IMG_0328.png

I came so close to the blog visitor goal, I was at 97 for January and as I was finishing up homework around 12:30am I had another visitor technically on February 1st, that’s why the +1 is there. Nonetheless that was a huge achievement for me, I started the blog in late November and had only 7 visitors for the whole month of December. As far as clicks go I haven’t been doing well on blog to amazon, I always hear its just a law of numbers. I guess I just need to get my numbers up and the clicks will come in. Falling short on blog posts came down to time and amount of content I had, but mainly time. I also planned on a friend writing 2 articles for me but that hasn’t happened yet. Side money made it easily with all the recent stock sales and profits I’ve collected from that. Again, with the clicks I think the affiliate sale follow a rule of numbers and I just need to keep pushing until I get to that threshold. The 10X rule and posting about it also came down to time, I’ve been extremely busy with school, fraternity business and working on all my personal goals and picking up my kindle and reading just wasn’t on the priority list. Coming short on forward dividend was mostly on me. I sold and bought a bunch of stock over this duration of time and didn’t allocate for the best dividend stocks but rather went with shorter plays for profits soon. Hitting my 25 IG posts was easy, I could always come up with content for that and just got in a habit of posting in the morning and late at night helping me rack of my following, reach, impressions etc. Instagram followers are a little bit more difficult to come by, I noticed I have lost a decent number of followers as well, so I am not sure what that is all about, but we are going to try to get those numbers up this month. Speaking of which here are my goals for the next 2 weeks.

IMG_0329

They are as ambitious as the last ones I would say, but attainable I believe. I think these goals will come down to how I utilize my weekends. This tends to be the only free time I have, and I normally allocate that to social activities. I can say for certain that affected the end of January goals in a negative way. Tell me what you think!

B^2

The Millionaire Booklet

Wow. I think Mr. Cardone out did himself on this one. This long pamphlet, The Millionaire Booklet, has the most useful information packed into 44 little pages that I have ever seen. Honestly best bang for your buck book in terms of reading length I have ever read. But let’s get to it, what is The Millionaire Booklet?

Mr. Cardone wrote this booklet after a charity dinner. The charity aimed to raised $2 million dollars and after everyone was all tapped out there was still $1 million to go. It took over 55 people to raise the first million, but the last million was donated by a single man with a single check. When all hope was loss, a single shining hero came in to save the day. Grant was inspired by this man and his generosity and created this booklet immediately after, and in two hours had it finished, so that one day others may be the shining hero for those less fortunate.

The booklet features the following:

Preface

Introduction

Chapter 1 – Getting Rich is Not a Fantasy, a chapter dedicated to changing your mindset

Chapter 2 – Where you get your advice, a chapter also dedicated to changing your mindset and who you listen to/surround yourself with.

Chapter 3 – The Millionaire Decision, a chapter dedicated to changing your perspective of becoming super rich.

Chapter 4 – Millionaire Math, a chapter dedicated to explaining the simple math needed to understand what it takes to achieve becoming a millionaire.

Chapter 5 – Increase Income, the foundation of becoming a millionaire is described here.

Chapter 6 – Who’s Got My Money? This chapter describes the alternative mindset needed to complete chapter 2’s who you surround yourself with message.

Chapter 7 – Stay Broke, the mantra that has propelled Mr. Cardone to his financial success, and how to “save” money.

Chapter 8 – Save to Invest, Don’t Save to Save – This further explains that quoted “save” in chapter 7.

Chapter 9 – Multiple Flows of Income, the critical tool to fortifying your fortune and prevent financial distress in cases of economic emergency or hardships within a company or industry.

Chapter 10 – Repeat, Reinforce and Hyperfocus, describes the rinse and repeat cycle to creating wealth.

That’s it! All that information is packed into these 10 chapters on how to get super rich. The book is simple and to the point and doesn’t contain the fluff that other books might have. Mr. Cardone does ask 3 things of the reader,

1) Keep this booklet in your possession until you become a millionaire.

2) Share it with a friend.

3) Once you get yours, help others do the same.

With all of that in mind, here is the link to the book on amazon: http://amzn.to/2DPZBgn

Let’s go get super rich! The message in this book inspiring, I highly recommend to anyone pursuing some degree of financial freedom or prosperity. The tools and knowledge are all here and only requires the reader to act. So, with that I’ll leave you to it, I’ve recorded the day I read it (1/30/2018), so who wants to race there?

Best of luck,

B^2

3. 2. 1. Liftoff

So I actually had this post written and ready to be sent on Saturday, but then Jetpack crashed and I lost the post because I didn’t save it and it was just a mess. But we are back up and running now so moving forward, February should be an awesome month for me. This blog was started in late November, did not have much success with it in November or December. Its the tail end of January and as I write this I’ve had 125 views and 75+ visitors! My Instagram account @bsquared.website was started in early January and has been picking up momentum. I’ve been experimenting with Facebook and Instagram ads and I think I just found winner!

In summation, January has been all about laying the foundation for what is to come. I’ve been pushing myself really hard in terms of school work, fraternity obligations, and all my side endeavors including this blog. I believe February will be the month to capitalize on the work that has been put in during January.

Only time will tell though, expect a lot more to come including book reviews, portfolio overviews, dividend updates, stock market moves I’m making, and a Lyft and/or drop shipping guide.

Till next time,

B^2

Status Update

Hey sorry everyone, I was out of town on a ski trip this last week and didn’t have a chance to post anything. I’m back at school now and while its been hectic getting back I should be able to post more frequently, my goal being every other day or thereabouts. I have a friend that will write an article on Lyft or drop shipping here shortly and he’s had incredible success with both so keep your eyes open for that.

Other than that things have been relatively uneventful. My stash portfolio has been doing incredible its up about $100 in the last 2 weeks (portfolio value of ~$2150 so ~5% increase) and I started an Instagram account for the blog you can follow it @bsquared.website. I’ve been experimenting with Instagram advertising and trying to promote my articles and posts through that. Look for a review of that in the future as I learn more about the subject and experiment with different methods to drive traffic and revenue.

I’ve started reading Grant Cardone’s The 10X Rule: The Only Difference Between Success and Failure, and I would highly recommend that book so far. Look for a review of that here shortly as well as well as some drastic action that I will take as a result. I would also recommend checking him out on YouTube,  he offers lots of advice and motivation and is a great source for information regarding Real Estate if you choose to go that route which I intend to do when I get some more capital.

Also I have several posts that have the opportunity to make me revenue through the blog, including the book review for stock market investing, Discover It credit card, stash app review, acorns app review, Robinhood app review etc. Unfortunately I haven’t made any revenue from these opportunities yet but I think we are getting closer and I expect to make my first dollar from this blog by the end of January. I will of course keep you all updated on that as well.

In summary, buckle up ladies and gentleman, 2018 is going to be a phenomenal year filled with handwork, hardship and opportunities and we should all try to make the most of it.

Best of Luck, B^2

2018 Goals

So as December ends and 2018 is fast approaching I’ve been thinking what I want to accomplish this upcoming year. I’m not talking about New Years resolutions or anything, I’m looking at this year as a incredibly critical moment in my life. The actions I take in 2018 could have a significant impact on my life, and could either push me to the next level however you would like to define it, or I could come up short. As I mentioned before in my “Change of Plans” post, I did not get offered the co-op or internship that I thought I had a very good shot at. The co-op would’ve gave me another huge influx of capital and could’ve been a critical asset in my financial life. The missed internship opportunity would have most likely secured a career path once I graduated. So, without either of those I am approaching 2018 in no man’s land. This would be the first time in 2 years that I am going into the new year without a summer job prospect or offer. I did end the Fall 2017 semester very strong, so I have that going for me as well as some good stock positions and prospects going into 2018, but back to the goals. I recently started reading Grant Cardone’s The 10x Rule  which has driven me to set more ambitious goals and to put in more time and effort to achieve those results.

$2500 in my aspiration emergency fund (this would give me the 1.00% APY interest rate)

$20,000 In my Robinhood portfolio (originally shooting for $10,000, hoping some options trading will give me the edge I need to achieve this goal)

$10,000 in stash app (originally $5,000)

$10,000 in Lending club (originally $5,000, would be incredibly useful in the stretch investing method)

Collect over $1,000 in dividends and stock interest (this years projected amount was ~$250, original goal was $500)

Have 5, $1,000+/year income streams by the end of 2018 (Anticipate being Dividends/interest, Lending Club interest, Internship, Drop Shipping, Blog)

150 blog posts by the end of 2018

All these goals are related to the blog and my financial life, I also have goals, relating to my academic life, extracurricular involvement, and fitness. I won’t get into details on these to keep this post short.

So tell me some of your goals and ambitions this year, I look forward to reading your comments.