The 10x rule is about reaching your full potential, getting massive success, and being the alpha of your industry. The two ways to do this by Grant Cardone are extreme 10x goals and extreme 10x actions. It means that you need to set bigger goals and work 10 times more than the others.
To achieve your goals you need to 10x the time, energy, and the money you think it will take to accomplish that goal so you will not be late or disappointed.
To make a project idea come to life the time that it needs is often underestimated and sometimes this leads to failure. So you need to 10x the time and actions that are required to bring that project to life.
Regardless of how good or special your product or service is, there is always uncertain things that you didn’t plan for like a legal problem, economic collapse, global pandemic, or any other problem, These are just a few potentially unexpected events and the solution is to make a plan of the time it will take with a margin of safety then multiple it with 10.
Create Your Own luck
If you take 10x goals and 10x actions then you will have a lot more opportunities than the others. People will think that you are lucky but the reality is that you made your own luck.
Fear stands for False Events Appearing Real. do what you fear, successful people do what they fear because of that they are successful, if you stay comfortable you will get the same result as always. If you fear calling a client this is the indicator that you need to call him. Eat your fear and advance in your life.
There are 4 degrees of action
No action – that means you do nothing to achieve your goals.
Reverse action – means that you try to find excuses to not start working
Average action – mean you do little work and actions to achieve your goals.
Massive action – means that you focus on solving the problems and you take all the necessary action to achieve your goals.
Don’t Compete, Domination
To win the first position in a marketplace or to be the leader of your industry you need to be fast and patient. To accomplish your goals you need to approach them like the tortoise and rabbit by attacking ruthlessly at the beginning and also staying with them the whole race.
Whatever how you are or what you’re doing your ability to sell is crucial in your life like selling your believes and ideas you need to convince others.
Sell To yourself first
Before selling to your customers, sell to yourself first you need to be sold on your own product so you know that it is a great product or service then it’s easy to sell it to others.
Start By the People Business
Wherever you sell is the people that are buying, so you need to care about people before you care about the sale. Helping the customer need to be your priority and make your product or service a solution for their problem.
Agree first then suggest
Always agree with the customer or the person you want to sell and no one will disagree with you if you agree with them, then you can suggest the solution.
Take massive action
If you want to achieve your dreams and be successful you need to take massive action and work 10 times more than the others.
Build your power base
Build a network of people that you can distribute to first like friends, family, and acquaintances, and let them know what you’re doing and selling.
Show don’t tell
When selling doesn’t just speak show to the customer what he’s going to get, show him your past work and your data also show them how your solution can fit their problem.
Maintain a great attitude
Having a positive and great attitude gets noticed by other people and makes them want to work with you and the way to have a great attitude is by avoiding negative people and media like news, radio, etc.
During economic contractions, it became much more difficult to sell your products or services and expand your business. But it will be so much fun if you are selling your products or services and expanding your market share and the others make excuses.
Advance and conquer
Sometimes things turn for the worst, most refuse to do something about it, and here comes your turn to capitalize on the situation to become the first of your industry. Focus on the most important things for your business.
Power base reactivation
It’s not easy to build a business from scratch, instead, we can use the people we know like friends and family to help us if they already have money or they know people that have it.
Past client reactivation
Use your past clients they done business with you one time so they are more likely to do it again or they know someone who will. And the more contacts the more contracts.
Don’t just email the customer or do average and normal actions, take an unreasonable amount of action, visit the client and call him, get out of your comfort zone. Don’t forget add-on sales because the second sale is always easier than the first one.
Converting the unsold
You must know that 80% of sales are made in the fifth to twelfth contact, but only 10% of sales are made beyond three calls. That means if you have the right product for your customers and they say no be aware that they say it just for now.
Ask for referrals
Control the referrals process. Ask your customers for referrals. This one action can help you grow your business.
Delivering at “wow” levels
The majority of people today are Accustomed to poor or mediocre service so if you just give a little bit more they will notice it. Use this to your advantage and it will help you to get more businesses without promotion.
Price vs Value
The price is not a problem. Your product value needs to be worth more than the price, you need to build value and make the customer feel confident that your product or service will solve his problem.
Effective marketing campaigns
In a period of contraction the majority of businesses lower their marketing budget, You need to do the opposite, now is the time for your business to take market shares and get known.
The power schedule
It’s important to have a production schedule to keep yourself and your company focused on the goals. Every step done efficiently is better than no steps at all. Make it clear to everyone that you have things to do and to show. And don’t forget that people procrastinate because they lack commitment.
The important skill
Selling is the most important skill, how to matter how organized your company is. If you are not selling you’re going to fail.
The unreasonable attitude
Your financial situation is limited only by the unreasonable actions you take to create it. It is a challenge to remain positive but if you remain positive you will have a huge advantage and better chance to achieve your goals.
being obsessed is the only way to achieve massive results in your life. It means that you need to be single-minded and focus on one thing and do it right. Why you will need to set multiple goals, set one goal and work all day long to achieve it without wasting any time on the other goals. Make your friends know that you want to achieve your goals if they don’t like it just let them go. Don’t waste time, don’t leave space on the calendar, work every day, and stay focused on your goals.
Part Time obsession doesn’t exist
you can’t just be obsessed in the evening or after you came home from work or weekend obsessed. You need to be all in all the time, this will make you think all the time and find new ways to accelerate your process and you will start to see opportunities around you. Now you think it is crazy to think about your goals 24/7. Yes, this is the point exactly if people’s criticism means you are in the right direction.
Overpromise and overdeliver
Sometimes people under-promise so they can surprise the customer and make him happy but the reality is that you make your offer value lower than the competition will beat you. So the solution is easy to overpromise to the customer and so you will be forced to over-deliver and this will make you stand out in the industry.
on your way to success, you will find a lot of average people that are happy with their car and house. When you have a conversation with them you need to understand that people are usually talking to themselves and they will say that you work so much and you are Greed and so on. People try to make excuses of why they give up and they will try to convince you to do the same because you remedy them about all that they gave up on.
Only quitting is a failure
if you give up then you are a failure as long as you are alive. Every day is a new opportunity to be better and smarter. Failure is experience. It helps you find what does not work and what’s work. So if you are thinking to quit you need to know that there is another side in you that doesn’t want to.
In your career, you will find some situation that doesn’t make sense but you need to find a solution, why you will need to start a business and you know that 70% of them fail in the first 1 to 3 years. It doesn’t make sense. But if you want to be successful you need to play this game with no guarantees and you need to be 100% sure that it will work. You need to choose opportunities not guaranteed.
Like a lot of people that are broke and they dream about millions and success, the only things that they don’t know is the benign a millionaires start with a decision.
The millionaire decision
before you can become a millionaire you need to decide to be a millionaire, 80% of millionaires are self-made millionairess so they don’t have any rich families. They just make a decision and start working to achieve their goals. And don’t forget that being average and in the middle class is selfish because you cannot take care of the ones you love.
If you want to be a millionaire you need to earn a $50 grant a year for 20 years or $100 grand for 10 years or $250 grand for 4 years or maybe having 300 customers that pay you $278/mo or selling a $500 product to 2,000 people. There are a lot of ways to make a million.
To be rich you need first to increase income, for example, you can work in a second job like pizza delivery or uber or any other way to increase your income. Think like if you are a business and your value is what you make.
Who has my money
You always need to ask Who has my money, there are over 7 billion people on earth. You need to decide how you want to invest your time. A lot of people will give you their money in exchange for solving their problems. If you find a way to tell 1 billion people you will have more than 1 billion dollars.
if you have the money you can sit and do nothing but if you put it to work and you pay the price today so you can pay the literal price tomorrow. And don’t forget idea + hard work * time + discipline = success.
Save only to invest
To be one of the wealthy you need big investments,s not smalls so you need to save money to use it for one of these two things to create a new flow of income or reinforce a current one.
Multiple flows of income
The two major problems people make when creating multiple sources of income are first walking away from their current source, the second is building another source that is going for a second flow that is vastly different from the first. Your investment always needs to parallel and support your existing income flows.
Repeat, reinforce and hyperfocus
You can be a millionaire if you think big from the beginning. First, he needs to give up the poor and middle-class mentalities like travel and fun things and vacations. You need to work 10h a day 6 days a week and focus on self-improvement. You need to be ready to let your old friends go away and add new successful friends. Successful people always want others to be successful.
The reason why people fail in their life is that they are unable to close others on providing resources like money or energy to achieve what it is they want.
Commit until you get the close
Be consistent in your effort until you close the deal because talking to a potential customer doesn’t mean that you get the job.
Learning is key
You must put yourself in a position where you practice both proactive and reactive learning. Proactive learning is where you spend 30min a day going over the most common objections and writing potential answers. Reactive learning is where you put yourself in uncomfortable situations.
Accept full responsibility
To be successful you need to take full responsibility if you don’t accept it you will fail. Once you take it you will see that you have control of your life. And this applies to sales as well. It is your responsibility to close, to make a sale.
Practice your message and remain seated
People don’t trust someone who cannot communicate his message confidently. You need to record yourself and your sales calls, try to remain seated during negotiations and presentations, also give your prospect room to engage in the negotiations.
Have a pen on you, if you sell in person
If you sell in person you need always to have a pen on you, if not the prospects may take the lack of a pen as a sign that they shouldn’t take the deal.
Ask one more time
Always start and finish the cold call with your prospect without leaving him with his thoughts, don’t run back and forth between customers. Even if they said “No”, find another way to reposition the negotiations.
Be sold on your product
Be sure that your product is the best one for your customer. If you know that your product will solve the problem of your customer you will be confident that it will work and you are going to close the deal.
Treat every prospect as a buyer and stay positive
Treat every prospect as a buyer this will raise your chance of making a sale. No matter how they respond, keep a can-do attitude during the sales process.
Smiling is important, always smile
Smiling changes your state of mind, it makes you positive and it makes the customers trust you even more. Successful people always smile, and that is what made them successful.
Grant Cardone explains the best way to invest in real estate and how to avoid some of the mistakes he did when he first started.
Don’t invest in one unit
Investing in a single property is a bad choice because if the tenant moves away your cash flow will stop, also if something doesn’t work you will need maintenance that will cost you money. Grant Cardone had fallen into this mistake when he started real estate (you can check Grant Cardone success story here) so the solution is to own multiple units if just 10% of them are vacant then your cash flow will not be hurt.
Single-family home is the worst investment
A family house is not an investment because it needs a lot of fixing. It will cost a lot but she is a good place to save money.
Don’t lose money
this advice from Warren Buffet, don’t lose money. This advice applies to all industries especially real estate. You want cash flow while you wait, and you want it every month.
If a deal is easy to get, don’t take it he is not valuable
if there are a lot of buyers on a deal then you should take it because it will be easy to sell it to the other buyer.
Income to rent ratio is a very important metric
Before buying a property, first, you need to know if the people living in this area are ready to pay for rent. Because sometimes the rent in some areas is high for the people living in it.