3 Sentence Summary
In The 10X Rule, entrepreneur and motivational speaker Grant Cardone argues that people don’t succeed because they misunderstand what it takes to be successful. They don’t set high enough goals due to “average” thinking. And people fail to reach their goals because they underestimate what it will take to reach them and don’t apply enough effort.
Summary Read Time: Less than 6 minutes
Actual Book Length: 256
First Published in: 2011
This book is not only informative but educational, providing readers with an understanding of why people often get bogged down by the first three steps of any project and how to avoid getting stuck there by instilling the 10X Rule as a discipline.
Below is the detailed yet quick summary of the book:
Chapter 1: The 10X Rule
The 10X Rule is a philosophy that suggests that by setting 10X goals, we can achieve anything we put our minds to. Here’s what this means.
Most people set goals that are based on other people’s definitions of “enough” or what’s realistic. We’re often told by society that if we set unrealistic goals, we’ll just fall short and get discouraged; that we should be happy with “enough” to live comfortably. However, the 10X Rule suggests that if we push ourselves to think bigger and set higher goals, we may just find happiness and success on the other side.
Chapter 2: Applying the 10X Rule
Underestimating the challenges you’ll face to reach your goal can be detrimental to your success.
When you’re starting a business, building a house, raising money, or searching for a new job, it’s important to remember that it will always take more effort than you initially expect. Despite how great your new product or service is, there will be unforeseen obstacles – for example, economic changes, legal issues, competition, or people problems.
These obstacles won’t be easy to overcome, and simply throwing money at the problem won’t be enough. To use a battle metaphor, you can’t just take a territory—it takes persistence and sustained effort to keep it. You need to be willing to put in the extra effort to make sure you’re successful.
Chapter 3-5: Three Characteristics of Success
Your definition of success depends on your current situation and what you’re striving towards. But success, in general, has three key characteristics:
1) It’s important.
2) It’s your responsibility.
3) There’s always more to achieve.
Chapter 6: Accept Total Responsibility
The attitude of a successful person is that things don’t happen to you, they happen because of you and the actions you take. Successful people take responsibility for everything that happens in their lives, good or bad. If you want to achieve success, be willing to accept responsibility for everything that happens in your life – whether it’s good or bad. Taking responsibility enables you to take the big actions that create big success.
People who whine and play the victim tend to think very differently than those who are successful. This is because they make excuses instead of taking action. So it’s important to get rid of this way of thinking if you want to be successful. About half the population thinks this way, so you need to be aware of it.
Chapter 7: Four Action Levels
Applying enough effort to reach success is more important than having the originality or business plan. Most people become unsuccessful because they don’t do almost anything (they don’t take enough action) to achieve what they desire. People will always choose one of these four action levels, yet only the fourth one insures triumph:
1) Doing nothing
2) Giving up
3) Taking a moderate amount of action
4) Taking extreme action
Note: In the rest of this summary, we’ve combined chapters and reordered material to reduce repetition and improve coherence.
Chapter 8 & 11: The Middle Class Trap
50 years ago, Americans were promised the middle-class dream – that comfort and security were attainable for everyone. And although many people still strive to reach this middle-class status, the definition of what it means to be middle-class has changed over time. Nowadays, a middle-class income doesn’t always equate to comfort. In fact, because it encourages people to think “average,” it often leads to financial instability instead.
Chapter 9: How to Set 10X Goals
People often set goals for themselves that they never start working towards or soon give up on. The strange thing is, the main reason why people fail is because they don’t make their goals challenging enough. If you want to increase your chances of success, shoot for the stars and aim high!
So many of us don’t follow our dreams because we allow the goals we set for ourselves to be based on what others think is possible. It’s easy to get caught up in what society tells us we should do – like going to college, practicing a certain religion, or speaking only the language we grew up with. But if we allow ourselves to be limited by these things, we’re not living our best lives. We should be encouraged to aim high and go after our goals, no matter how big or impossible they may seem.
Failing to set goals that inspire you is a recipe for disaster. If your goals are uninspiring, you won’t be motivated to reach for them or achieve them. It’s hard to get excited about working towards goals with an average payoff – so you’ll only put in average effort, if any. And if you encounter obstacles, you’ll be quick to quit because your goals aren’t worth the additional effort required to overcome them.
Goals need to be big and inspiring to hold your attention and keep you motivated. However, many people’s goals are so unremarkable that they write them down only once a year and then forget about them. If you want to achieve your goals, you need to set ones that excite and inspire you – otherwise you’ll never put in the work required to make them a reality.
Chapter 10, 17 & 19: Myths That Sabotage 10X Success
Just as following others’ advice can undermine our ability to set 10X goals, believing conventional wisdom can prevent us from taking the 10X-level action necessary for extraordinary success.
Some of the most harmful business myths in terms of preventing success involve competition, customer satisfaction, and time management.
Chapter 12, 15 & 20: Going ‘All In’
People who see ten times the success of their peers differentiate themselves in a few key ways. They’re always present and ready to seize opportunity, they’re obsessively dedicated to success, and they see opportunity where others see misfortune. If you want to be successful, you need to be like them. You need to be everywhere, always ready to take advantage of an opportunity, and willing to take risks others wouldn’t even consider.
Chapter 16, 18 & 21: Psychological Hurdles to Success
While it’s admirable to be driven and obsessed with success, there are three common attitudes and behaviors that can prevent you from reaching your goals if you don’t reject them. They are: fear of risk, fear of criticism, and making excuses.
Chapter 22: Success Traits
As this book has revealed, success is rarely determined by factors like economics, education, or demographics. Instead, it largely depends on one’s approach to situations, challenges, and problems. This chapter looks at the common qualities, personality traits, and habits of successful people. If you want to be successful yourself, adopt the following actions and mindsets.
Chapter 23: Getting Started with 10X
To get started on the path to success, take a look at the list of success traits in Chapter 22. Then, make a list of your goals. After that, make a list of actions you can take to achieve those goals. Finally, start taking those actions!