10x rule

The 10X Rule: Drive Maximum Performance in Your Business

An entrepreneur is resourceful, able to make something more out of something less and is able to create growth and success. These are all qualities investors look for; investors invest assets, employees invest their knowledge and resources, and customers invest money. When an investor throws their money on the table, they are most likely looking for a 10X return on investment (ROI). The same thing holds true for a hired employee. When companies bring on an employee, they should look for that employee to add ten times the value on a per year basis, or meet the 10X rule.

To create true success in your entrepreneurial endeavors, you need to be able to paint a clear picture in your own mind of how you’re going to get a 10X return on that employee, and give a 10X return to that investor. This may mean you are able to focus more on fewer things, but those things will be more impactful to your business.

What you need to realize is that a 10X ROI starts with a 10X mindset.



In his recent book, “The 10X Rule,” Grant Cardone states that a 10X result starts with a 10X mindset. You have to think in regards of exponential growth, not logistic growth. Since your thoughts lead to your actions, 10X thoughts lead to 10X actions. One of the biggest mistakes people make in this world is not setting goals high enough to get them going. Cardone suggests setting outcomes for yourself that are 10X higher than what you think you can achieve.

As entrepreneurs, it’s important that we come to terms with the level of thinking and effort that’s required to become an elite business. There are many reasons why investors only put their money into a fraction of 1 percent of all companies. One of those reasons is that they see potential within the entrepreneur they are investing in that they’ll do whatever it takes to take their company to the 10X level. If an investor doesn’t see that drive and hunger, they won’t put their money up.

When you stop viewing success as an option and start looking at it as a duty, you’re on the path toward 10X results.



It’s not just about 10Xing your income, or the investor’s ROI. As you are working on your startup, take the time to evaluate each area of your business, as well as each team member, and determine if there will be a 10X performance. As a leader making choices for your organization, ask yourself if the strategy you have and the choices you plan to execute will have 10X results.

“The 10X Rule” is available now wherever fine books are sold, and at StartupNation.com.

Total
11
Shares
Previous Article
Funding

Credit to Crowdfunding: Funding Options for Your Startup

Next Article
Business partner

How to Choose the Right Business Partner [Infographic]

Related Posts
importance of SEO
Read More

The Importance Of SEO In Digital Marketing

Here's a redundant, yet powerful fact: Your customers search online before making any purchase decisions. Whether it's a question, a product comparison, reviews about something specific or to test the market to see what all is available, customers turn to search engines for information and product awareness. Therefore, as a digital marketer or an entrepreneur,...
the rigbt software
Read More

The Right Software is Essential for Your Evolving Business

You started a business with a great idea, but when it comes to scaling it up with speedy and effective execution, you need something more than the average spreadsheet and software that only meet your business’s primitive needs. Often, business owners make the mistake of sticking to outdated software which hinders growth and profitability. Business...
employee experience
Read More

Employee Experience: Culture, Involvement and Career Development

Businesses focusing on customer experience is a given. After all, no business will thrive, or even succeed, without the support of the market it seeks to capture. But ensuring customers remain happy with your products and services is not the be-all and end-all of effective business management. Or at least it should not be. An...
work from anywhere
Read More

Why Working from Anywhere Matters from Dell

Where work or learning physically happens no longer defines the user experience. Fueled by an appetite for digital experiences and capabilities, we’ve clearly entered a “do anything from anywhere” world, creating limitless potential for borderless innovation and flexible collaboration. Now that remote and hybrid experiences—where team members shift between performing remotely and on-site—have become standard,...