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

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

Stash Investing app

I have been using Stash since November 2016 and I am a huge fan. Stash is an app based platform to invest in ETF’s (exchange traded funds) and offers over 40 of them. ETF’s are a grade investment to help diversify your portfolio and mitigate risk, as well as a sound investment for beginners. When you follow the link https://get.stashinvest.com/brandoni35n0 you will receive one year of free investing (normal fee is $1 a month for accounts under $5,000, and 0.25% APY for accounts over $5,000). Below are some pictures of my own stash portfolio and what all I own.

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The first screen shot is the portfolio screen, here you can see Total Portfolio Value and Total Return. As you can see in 13 months I’ve managed an impressive 25% return, with minimal risk. The screen shot on the right shows my account balance over time, if you have seen my stretch investing article you may recognize the steady ramp up over the summer months and the slow decrease in the fall months as I start to pull out money for large expenses that come up. I would normally sell off portions of my highest return ETF’s and any funds I would receive from dividends or bank transfers would go toward the worse preforming ETF, thus following the sell high, buy low mantra.

As of 12/20/2017 here are my best and worse performing investments over the duration I’ve used the app.

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Unfortunately, the app organizes based on total return in dollars which accounts for the size of the position and not just the % return. Essential Europe is my worse preforming ETF; however, I’ve only owned it since July so a 4.4% return in 6 months would ideally equate to a 8.8% return for the year, being inline with the overall market average historically speaking.

I would highly recommend this app for anyone looking to easily diversify their portfolios, or a beginner looking to get their toes wet. The app also features an IRA retirement account, and articles to help beginners learn about ETF investing and the stock market.

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*Received the summary for the year from stash take a look and let me know what you think.