The 10X Rule By Grant Cardone (Book Review & Summary)

[av_video src='https://www.youtube.com/watch?v=nbZq9OD6uoU' format='16-9′ width='16' height='9′ custom_class=” av_uid='av-36ft6h']

Main Theme:

• 10X rule shows us how to define correct goals, estimate effort needed, determine how to approach projects, and determine how much action to take

Must do two things:

• Adjust your thinking to dream about things that seem unimaginable
• Understand how much effort and though is required to succeed

10X rule defined:

• Push the boundaries of what you thought was possible, take 10 times the action that seems reasonable

Key Takeaway #1 – Average Is A Losing Formula

• You must become obsessed with your missions
• To succeed takes an “unreasonable” level of action & thinking
• Most businesses and entrepreneurs fail because they go for “average”

 People make 4 mistakes when setting goals:

1. Mistargeting – setting objectives too low
2. Underestimating what it will take to accomplish the goal
3. Spending too much time competing and not enough time dominating
4. Underestimating the adversity they have to overcome

 Three crucial things to know about success: 

1. Success is important
2. Success is your dudy
3. There is no shortage of success

Average worker:

• Reads less than 1 book a year
• Works an average of 37.5 hours/week
• Makes 319 times less money than top CEO's who read 60+ books a year
• 51% of Americans make less than $30k/year
• 60% of Americans can't afford a $2k emergency expense
• Average cost of living = $50k, near impossible to thrive on an average salary

Key Takeaway #2 – Take Massive Action 

• Assume control for everything – don't suffer from victim thinking.
• Take responsibility for everything you do and everything that happens to you

There are 4 levels of action you can take:

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

• You need to be obsessed – not a bad thing!
• Fear & criticism are part of the success formula
• Fear = false events appearing real
• Criticism = feedback

Get Started: 

1. Do not reduce your goals as you write the down
2. Don't get lost in the details of accomplishment
3. Ask, “what actions can I take today to move me towards these goals?”
4. Take whatever actions you can come up with no matter how they make you feel
5. Do not prematurely value the outcome of your actions
6. Go back each day and review the list

Takeaway #3 – 32 Traits Of Successful People

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 approach
19. Break the 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 it out later
27. The 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

Final Thoughts

• Push the limits – Think 10X
• Take massive action – be unreasonable
• Be consistent – obsess over your life missions

Subscribe To The Pathways To Wealth Show:

Itunes | Stitcher | Soundcloud | YouTube | Email