The Grant Cardone 10X Rule Summary
Grant Cardone 10X
Whether you love him or not, Grant Cardone is one of the most influential people today. I recently stumbled across him online and was amazed that I’d never heard of him considering his huge online following. (As of this writing, he has over 1.2 million YouTube subscribers.)
A couple reasons I connected with him was:
- #1 He’s also is a Louisiana boy.
- #2 He loves real estate investing, especially syndications.
- #3 His time management skills and amount of action he takes is unbelievable
As an avid reader, his book, The 10X Rule, intrigued me as the headline states:
“The Only Difference Between Success And Failure.”
The book shows you how to:
- reach all of your goals possible
- train your thoughts and actions for success
- limiting the amount of negativity in your life
- gain the most amount of success you could ever want
- overcome all of your fears and view success instead
- take massive action (not average action) to achieve exactly what you want
If you’re crunched for time, here’s a brief overview of the book:
What Is The 10X Rule?
I love it when people give back, especially to students. I came across this video of Grant addressing a group of high school students.
In it, he goes over the highlights of his book to inspire them to achieve success.
You maybe asking yourself, “What exactly is the Grant Cardone 10X rule?”
It’s based on understanding how much effort and thought are required to get ANYTHING done successfully.
It can work in literally every area of your life including:
He states that looking back over the course of his life, the one thing that was consistent with any of the success he achieved was that he always put forth 10 times the amount of work as others.
For instance, when he was in sales, he made ten more calls and presentations than anyone else. When looking for real estate deals, he’ll look at ten more properties than others will.
I agree with him that you can’t get to the next level in anything without changing your mindset first.
Related article: How To Think About Money
10X Rule Focus
The 10X rule focus is that you must set targets that are 10 times what you think you want and then do 10 times what you think it will take to accomplish those targets.
Massive thoughts MUST be followed by massive action. This is nothing more than the pure domination mentality.
Look at the great footballs teams: LSU (Geaux Tigers!), Alabama, Patriots, Saints. I can guarantee you that their coaches focus their time on how they are going to dominate their competition and not how they’re only going to compete.
What Is Success?
Cardone talks a lot about success in the book, specifically he states that “success is your duty and obligation.” He stresses this point to the high school students in the above video multiple times.
There’s No Shortage
Unlike the negativity we constantly hear in the media, there’s no shortage of success. If you watch the news or read a newspaper, you’ll be led to believe that there are shortages of jobs, money, opportunities and time.
How often do you hear someone state, “there’s not enough time in the day to get things done“?
You’ll never attain success if you continue listening to what’s put out in the media and if you don’t believe that success is important.
Cardone claims that it’s our responsibility in life to live up to our true potential, becoming the person that we were meant to be. He states that we owe this to all of those that are depending on us such as family members, colleagues, employees, etc.
Becoming successful shouldn’t be an option but an obligation that you have to honor.
4 Degrees Of Action
You’ve read the headlines before:
- “The #1 Secret To Success”
- “The Only Investment You’ll Ever Need”
- “The Shortcut To Wealth…”
It’s not surprising that everyone is looking for a secret shortcut to whatever they want in life. But if you’re going to follow the Grant Cardone 10X Rule, you’ll learn very quickly that there are NO shortcuts.
He says we should focus more action on getting what we want more than anything else including our concept, idea, invention or business plan. Action is that important.
He breaks down the degrees of action into four choices:
If you want to hear about someone that learned about passive investing on their own and took MASSIVE action, read about how Lue Chen retired doing just that at 38!
2) Retreat: People that retreat are those that take action in reverse. More than likely they do so to avoid any negative experiences that they imagine will come as a result of taking action. They personify the “fear-of-success” phenomenon.
3) Take normal levels of action: This group is probably the most prevalent in our society today. On the surface, they appear to be taking the necessary action for success. Essentially, they’re doing what everyone else is doing. This level of action creates the middle class and is the most dangerous because it’s considered acceptable. They are good with being “average.”
4)Take massive action: Whenever someone is taking massive action, they aren’t thinking about being normal. They don’t want to be average. They want to stand out from the crowd and dominate their competition.
Why Average Is Failing
Cardone feels that the world is full of “average” people. He claims that this “addiction to average” can kill the possibility of making your dreams a reality.
Here’s an example:
The average worker reads less than one book a year and works an average of 37.5 hours per week. This same person makes 319 times LESS MONEY than the top U.S. CEO who read more than 60 books a year.
Too many of us often fail to appreciate what these types of successful people have done to get to where they are today.
I can guarantee you that if you follow Drew Brees, Tom Brady or any other top athlete around on the off-season, they’re working 10 times more than the average NFL player.
Average NEVER yields anything more than average and usually much less. Average thinking and actions will only guarantee you misery, uncertainty, and failure.
Cardone recommends that you rid yourself of everything that is average including the advice you get and friends you keep.
Instead, surround yourself with exceptional thinkers and doers.
Proverbs 13:20: “Walk with the wise and become wise, for a companion of fools suffers harm.”
Remember, the Grant Cardone 10X states that you must set targets for yourself that are 10X more than what you think you want and then 10X the action you think is required to get there.
Here are 4 mistakes that most people encounter while goal setting:
1) Failure to set goal high enough from the beginning
2) Underestimating how much action is really needed to accomplish goals
3) Spending too much time competing and not enough time dominating (doing what everyone else is doing – being average)
4) Underestimating the amount of adversity they will have to overcome
To maintain your enthusiasm, you have to set your goals high enough that they keep your attention. If your goals are so small that you don’t even need to consider them on a daily basis, then you’re going to lose interest.
An example of this was when I started setting monthly investment goals for myself a few years ago. I, like everyone else, set them too low. I wasn’t focused on it daily and I knew I could do better.
In my opinion, you have to set goals so high that it hurts trying to accomplish them. Because it wasn’t “hurting” and my checking balance stayed what it normally is each month, I ramped up the investing until I started really noticing a difference.
Once that money started leaving the checking account on a monthly basis in a BIG way, I really started paying more attention.
I agree with Cardone, if your goals are so small that you don’t consider them on a daily basis, they you’re going to lose interest and not accomplish them.
10X Goal Setting
In order to set your goals the 10X way, Cardone recommends you do the following:
- Set 10X targets
- Align them with your other purposes
- Write them down daily – when you wake up and before going to sleep.
In the book, it states that sooner or later, you’ll experience fear when you start taking massive action towards your goals. I know I did once I started increasing the amount I was saving.
It made me uncomfortable having a large amount of money removed from my account each month to go into savings.
Fear is actually a sign that you’re doing what’s needed to move in the right direction.
So, if you’re not experiencing fear, then you’re not taking enough new actions and growing in life.
Successful Or Unsuccessful?
Cardone uses an entire chapter to discuss a list of ways we should act in order to be successful which is based on what he’s personally discovered about other successful people and the way they do things.
In other words, here’s a list of how successful people live to be successful:
1. Have a “Can Do” Attitude
2. Believe That “I Will Figure It Out”
3. Focus on Opportunity (problems = opportunity)
4. Love Challenges
5. Seek To Solve Problems (be a problem solver)
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 Approach
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
I realize that some of these you currently are doing and some you’re not. I’d encourage you to go through this list to identify which you need to work on to become even more successful.
The Magic Of Thinking Big
After reading the Grant Cardone 10X Rule, I was reminded of a book that’s in our “Recommended” section called “The Magic Of Thinking Big” by David Schwartz which makes a great complement to Cardone’s book.
Many of Schwartz’s ideas and concepts line up perfectly with The 10X Rule. An example can be found on the first page regarding success. He states that success and achievement are the goals of life. Every human being wants success and the best life can deliver.
Nobody likes living in mediocrity. When you believe you can do something and have an “I can do it” attitude then the “how to do it” develops.
Applying The 10X Rule
I’ll admit, looking back over my life, I haven’t lived by the 10X rule. The main reason is that I’ve failed to set big enough goals initially. I think many of us do the same thing.
Here’s how we can get started applying The 10X Rule to our lives:
1) Set bigger goals. Why settle for saving $10,000 month? Go for $100,000 a month! Focusing on setting bigger goals in all aspects of your life including income, savings, workout, time spent with family and more.
2) Take massive action. In only makes sense that in order to reach your 10X goals, you’re going to have to take 10X action to fulfill your true potential. Remember, you will run into obstacles along the way, don’t let them set you back.
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