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

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

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About the Author

Chris Dunn is the founder of Skill Incubator. He is an active investor and entrepreneur with the mission of helping people learn Skills to thrive in today's economy. Chris spends his time testing and building multiple streams of income and investing the profits. Read more here.