The Ten Times Rule: The Only Difference Between Success and Failure Read online

  See what average thoughts and actions will get you—average problems that can quickly become overwhelming problems. What if you live 20 years longer than your savings? Many of us will have to take care of other family members because they didn't have a 10X mind-set or operate at 10X levels. What about the possibility of long-term health issues or some state of economic emergency that hasn't been foreseen? What happens to entire classes of people who made average financial plans when faced with extended periods of very difficult economic times or decades of extended unemployment? Average is a failing plan!

  Average doesn't work in any area of life. Anything that you give only average amounts of attention to will start to subside and will eventually cease to exist. Companies, industries, artists, products, and individuals who continue into the future successfully are those who approach every activity with the outlook that average is just not good enough. You need to change your commitment and thinking to be far above any concepts of average. I promise that when you do so, you will immediately start influencing other areas of your life. Your friends and family will start to change, results will improve, you will find yourself getting luckier, you may experience time flying by, and the actions you are taking will begin to improve your associations with people.

  Average is also the reason why most new companies fail. A couple of people get together, have a great idea, write a business plan, start a company, and base their predictions on everything going in their favor. They may even create what they consider to be conservative projections. “Let's say we show the product to 10 people. We're bound to sell at least three of them. That's conservative and realistic.” Someone in the group says, “Let's cut that in half to be especially safe. Can we still make it?” They decide that even based on the more conservative plan, they will be successful. But they didn't correctly assess how many people they would have to call on just to do the initial 10 presentations. Even the most amazing product on earth might require 100 calls just to get the 10 meetings. Just because you have the next step of the project completely planned out doesn't mean that the rest of the world is there with you. They've committed to their schedules, their products, and their projects. Merely getting the opportunity to see the right people will take enormous effort and persistence. Most people are building business plans based on average considerations and ways of thinking, not the massive amounts of action that are necessary to push through.

  When new ideas come together, they are influenced by the excitement and enthusiasm of those who generate them. Many negative considerations—such as competition, the economy, market conditions, manufacturing, lending, raising money, the preoccupation of your clients with other projects, and the like—are set at what everyone considers normal or average difficulty. Then, when optimistic projections prove unrealistic, even the most conservative objectives are missed. A key partner might get sick, there might be some significant change in economic conditions, or some global event might occur that shifts everyone's attention for the next six months. People involved in the new venture start to lose their enthusiasm, bickering ensues, and as things become more difficult than was originally considered, failure emerges as a likely possibility. The partners go through more money than anyone projected—and with no income. One of the dreamers begins to have second thoughts and wonders if perhaps he should bail since the players don't seem mentally, emotionally, or physically prepared to take the massive action necessary to push through market resistance.

  Continuing with this scenario, in order to resolve the lack of income problems, members of the group try to borrow or raise money from their friends—where they hit even more resistance. They realize that it will become increasingly difficult for most people to ante up to the “unreasonable” amounts of relentless 10X actions that are necessary to see things through and were missing from the business plan. The partners start to believe that their company relies more intensely on raising money than it does on increasing actions because they didn't correctly estimate the 10X level of thoughts and actions necessary to keep going.

  Average assumes—incorrectly, of course—that everything operates stably. People optimistically overestimate how well things will go and then underestimate how much energy and effort it will take just to push things through. Anyone who has made it in business will support this concept. You simply cannot train or prepare for normal amounts of gravity or resistance, competition, and market conditions. Don't think average; think massive. Compare your actions to having to carry a 1,000-pound backpack that you will wear every day into a 40-miles-per-hour wind on a 20-degree upward slope. Prepare for massive, persistent action, and you will win!

  Most businesses fail because they are unable to sell their ideas, products, and services at prices high enough to sustain the company and fund its activities. The company isn't able to collect revenue in quantities great enough because the people with whom the company has been built—employees, customers, and vendors—also take only average amounts of action.

  Average never yields anything more than average and usually much less. Average thinking and actions will only guarantee you misery, uncertainty, and failure. Rid yourself of everything that is average including the advice you get and friends you keep. Sound too tough? Remember that success is your duty, obligation, and responsibility. And since there is no shortage of success, any apparent limitations you are experiencing might simply be the result of thinking and acting average. Rid yourself of every concept of average. Study what average people do, and prohibit yourself and your team from considering average as an option. Surround yourself with exceptional thinkers and doers. Let your friends, family, and work associates know that you treat average like a terminal disease. Remember, average anything will never get you to an extraordinary life. Look up the word average and see for yourself what it holds for you—typical, ordinary, common. That should be enough to abandon the concept from all your considerations.

  Chapter 9

  10X Goals

  I believe that one of the major reasons why people don't stick to their goals and fail to accomplish them is because they fail to set them high enough from the beginning. I have read many books on goal setting and have even been to seminars on this topic, and I constantly see people set goals and then either never get started or bail on them. Frequently and regularly, most of us have been warned against setting goals “too high.” The reality is that if you start small, you are probably going to go small. People's failure to think big enough usually means they will never act big enough, often enough, or persistently enough! After all, who gets excited about so-called realistic goals? And who can stay excited about anything with an—at best—average payoff? This is why people begin to bail on projects when they experience any kind of resistance; their goals are not big enough. To maintain your enthusiasm, you have to make your goals substantial enough that they keep your attention. Average and realistic goals are almost always a letdown to the person setting them—who is then unable to fuel his or her goals with the actions necessary.

  Indeed, most people are so apathetic about their goals that they only write them down once a year. As far as I'm concerned, nothing worth doing is done only once or twice a year. The things upon which your life depends most are based on the actions you take daily. That is why I make sure to always do two things: (1) I write my goals down every day and (2) I choose objectives that are just out of reach. This opens me up to my full potential, which I use to fuel my action each day. Some people suggest that setting improbable goals might cause a person to become disappointed and lose interest. But if your goals are so small that you don't even need to consider them on a daily basis, then you are going to lose interest!

  A good idea is to word your goals as though you've already accomplished them. I keep a legal pad next to my bed so that I can record my goals first thing each morning and right before I go to bed at night. I also keep one in my office on which I record new and improved objectives. The following are examples of some of the goals I am currently wor
king on and how I write them down. Notice that I word them as though I have already achieved each of them (when I have yet to do so). I own 5,000+ apartments that return over 12 percent positive cash flow.

  I am in perfect health and physical condition.

  My net worth is over $100 million.

  My income is over $1 million a month.

  I have written and published 12 or more best-selling books.

  My marriage is alive and healthy and a positive model for others.

  I am more in love with my wife every day.

  I have two beautiful and healthy children.

  I have no debt except that which is paid by others.

  I own a beautiful home on the ocean that has no debt.

  I own a ranch in Colorado that has incredible views of the mountains and horses and is my ideal scene.

  I own companies that I am able to control from a distance and have great people working with me.

  My children are friends with the most powerful people on the planet.

  I am making a positive difference in my community and politics.

  I continue to create unique programs that people want and that improve the quality of others lives.

  I have endless energy and interest in my career.

  I have a hit TV show that has been on for five seasons.

  I am one of the largest donors to my church.

  Keep in mind that these are some of my goals and are only being used to give you an example of how I word them. Also note that they are things that are yet to be achieved, not things that have been achieved.

  Average goal setting cannot and will not fuel massive 10X actions. If you approach an endeavor with average thinking, you will start to give up the moment you come up against any challenges, resistance, or less than optimal conditions—unless you have some big juicy purpose as your engine. To get through resistance, you must have a big reason to get there. The bigger and more unrealistic your goals are—and the more they're aligned to your purpose and duty—the more they'll energize and fuel your actions.

  For example, let's say I want to save $100 million in a bank account. Does anyone need $100 million? No! It is a goal—and the bigger and juicier it is, the more likely you will be motivated to move in that direction and through resistance. If you want to add even more energy to your goals, then make sure they are tied to something even bigger. For instance, someone who wants to earn money but doesn't have a constructive goal for what to do with it may only produce the money and then just waste it. When you are setting a goal, be sure you are clear about what you want it for, and then tie it to a greater purpose. Think massive and broad when setting your goals. Many people make money a target and set a goal to save it but then just destroy the wealth that was created. Look at how many people just wanted to get rich, did so, and then died broke. So having goals aligned with other goals will start to actually help you. Let's say one of my goals is to save $100 million and another goal is to use that money to help my church and fund programs to improve conditions for mankind. This is an example of combining goals that will generate the fuel and horsepower to drive my actions and all my goals.

  One of the first jobs I ever had was at McDonald's. I hated it—and not because it was McDonald's. I hated it because it was not lined up with my goals and purposes. The guy who worked next to me loved his job because it aligned with his goals and purposes. I was the guy making $7 an hour because I wanted some spending money, and he was the guy making $7 an hour but who wanted to learn the business and open 100 franchises. He didn't understand why I wasn't excited, and I didn't understand why he was. I was fired, and he went on to own franchises. Your goals are there to fuel the actions you will need to take—so make them big and make them often and then tie them in with your other greater purposes.

  Ask yourself whether the goals you have set are equal to your potential. Most people will admit that their goals are well below their potential—because most of the world has been convinced, persuaded, and even educated to set small, attainable, and realistic goals. If you're a parent, I am sure you have heard yourself suggest this to your children—or maybe you heard it from your own parents or in your work environment. Never set realistic goals; you can get a realistic life without setting goals for it.

  I truly despise the word “realistic” because it is based on what others—who have probably been operating at only the first three degrees of action—have accomplished and believe possible. Realistic thinking is based on what others think is possible—but they are not you and have no way of knowing your potential and purposes. If you are going to set goals based on what others think, then be sure you do it based on what the giants on this planet think. They will be the first to tell you, “Don't base your goals on what I have done because you can do even more.” But what if you set goals based on those of the top players in the world? Steve Jobs's goal, for instance, is to “ding” the universe—to create products that forever change our planet. Look at what he has done with Apple and Pixar. If you are going to set goals comparable to those of others, then at the very least pick the giants who have already created massive success.

  Many people find themselves on the path they're on simply because they're doing what other—average—people have done. Most people go to college not because they want to but because they are told to go. Most people belong to the religion they belong to only because they were brought up that way. Most people speak only the language that their family speaks and never take the time to learn another language. Most of us are influenced by the decisions our parents, teachers, and friends have made and then the limitations set by them and for us. I bet that if I asked your five closest associates about their goals, I'd probably be able to identify some of yours as well. You—and your goals—are manipulated by your surroundings.

  I will never tell another person what his or her goals should be. However, I would advise that when you do set your goals, take into account that you have been educated with restrictions. Be aware of this so that you don't underestimate the possibilities. Then take the following into account: (1) You are setting these for you—not for anyone else. (2) Anything is possible. (3) You have much more potential than you realize. (4) Success is your duty, obligation, and responsibility. (5) There is no shortage of success. (6) Regardless of the size of the goal, it will require work. Once you've reviewed these concepts, then sit down and write out your goals. And then be willing to rewrite them every day until they are achieved.

  If you underestimate your potential, then it is impossible to set appropriately sized targets. Set the goals too small, and you will not gear up for the massive action necessary. I know the concept of The 10X Rule is NOT for everyone. It is clearly not for anyone who is willing to accept average or mediocrity or for those who prefer to kick back and settle for the leftovers. It is not for those who want to depend on hope and prayer for their success. The 10X Rule is meant for the few people obsessed with creating an exceptional life—and who want to be in charge of that process. The 10X Rule removes the concepts of luck and chance from your business equation and shows you exactly what mind-set you must embrace in order to lock in massive success.

  Consider the following scenario: Let's say that you are setting your financial goals. In 2009, the president of the United States said that people who make $250,000 should be considered rich. Keeping with the current trend, your tax bill will be at least $100,000, leaving you with a remaining $150,000. After you make payments on two cars, make a mortgage payment, pay your property taxes, and feed, clothe, and school your kids, you might have $20,000 left. If you save that money for the next 20 years, you'll end up with around $400,000—assuming nothing goes wrong. Now take into account the fact that your parents—possibly both your parents and your in-laws—didn't plan for their own retirement properly. They are going to outlive their savings by about 15 years and will depend on you to take care of them. If any of this happens, you will find out quite quickly, and too late, that you underestimated your fina
ncial goals and will spend more effort just trying to manage what you have created than what it took to accumulate it. And remember, in addition to taking care of your parents, you have to fund your own retirement years. Additionally, this scenario assumes no increases in the cost of living, no bad news, no emergencies, and no major events. Throw in just a little of what has happened in the last couple of years, and you will see that 90 percent of the population has underestimated the goals and targets necessary to fund their lifestyles, much less their life's purposes. “Small” thinking has and always will be punished in one way or another.

  We live on a planet where the primary belief is an underestimation of everything. The best business schools in the country cite undercapitalization as one of the top reasons for companies' failures. This is caused by a miscalculation of how much cash a company would burn through before its product caught on—and is yet another example of how average doesn't cut it.