David Cummings on Startups

The 10X Rule

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David Cummings

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Recently I started reading The 10X Rule by Grant Cardone based on a friend’s recommendation. Basically, the 10X rule is an idea that every project you do will take 10 times more time, energy, money, and effort than assumed, so set the much more difficult expectation, and if it happens to take less, then great. Too often, people set out to accomplish challenging goals (e.g. I want to build a successful business, I want to lose 20 pounds, etc.) and don’t set even remotely realistic expectations. However hard you think it is, set expectations for it to be 10 times harder and then you’ll be in the ballpark. Put another way, most people don’t reach their goals because they didn’t work hard enough at it.

Here’s a list of things successful people do, according to the author:

  • Have a “can do” attitude
  • Believe that “I will figure it out”
  • Focus on opportunity
  • Love challenges
  • Seek to solve problems
  • Persist until successful
  • Take risks
  • Be unreasonable
  • Be dangerous
  • Create wealth
  • Readily take action
  • Always say “yes”
  • Habitually commit
  • Go all the way
  • Focus on “now”
  • Demonstrate courage
  • Embrace change
  • Determine and take the right approach
  • Break traditional ideas
  • Be goal oriented
  • Be on a mission
  • Have a high level of motivation
  • Be interested in results
  • Have big goals and dreams
  • Create your own reality
  • Commit first – figure out later
  • Be highly ethical
  • Be interested in the group
  • Be dedicated to continuous learning
  • Be uncomfortable
  • “Reach up” in relationships
  • Be disciplined, create successful habits

After re-reading that list, I can’t but think that it does a great job summarizing successful entrepreneurs as well. If you’re looking for some good ideas with the feel of a motivational speaker, check out The 10X Rule by Grant Cardone.

Comments

4 responses to “The 10X Rule”

  1. VAVA Avatar
    VAVA

    yes thats true

    Reply
  2. chicostatelife Avatar
    chicostatelife

    I have a business idea but I know it’s going to take a lot of funding and years of planning before I can even begin to think about execution. I’ve been reading up on how to start a business, but there’s so much to consider that I am starting to feel overwhelmed. I believe that I can do it, but I’m not entirely sure where to start. Do you have any advice for a budding entrepreneur?

    Reply
    1. David Cummings Avatar
      David Cummings

      Start simpler: https://davidcummings.org/2012/10/26/getting-started-as-an-entrepreneur/

      Reply
  3. Scott Salkin Avatar
    Scott Salkin

    I used this post and list in our 2016 strategic planning session yesterday and had my executive team identify the five traits they feel they identify MOST with and the five traits they feel they identify LEAST with. It was a great exercise – I was actually pretty happy with the fact that we seemed to balance each other out pretty well. The one thing I did notice about the list above is that some of the traits seem to be somewhat opposite of each other, making it hard to truly encompass all of the values…example: “Determine and take the right approach” is completely the opposite of “Commit first – figure out later” and “Be dangerous.” Nonetheless, I think this is a great list for entrepreneurs to look at and really determine whether or not they have the stomach for the up-and-down roller coaster ride that is tech entrepreneurship.

    Reply

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