Grant Cardone

Book title and author: The 10X Rule: The Only Difference Between Success and Failure by Grant Cardone. 3/23/23. I read this slowly here and there so it took me days to finish this. 3/24/23

Why I picked this book up: this author is supposedly a superstar real-estate guru. He started late and excelled. I read his fist book, How To Create Wealth Investing In Real Estate and enjoyed it. I saw his ad for this book, saw other talks by him and wanted more information.

Thoughts: Chapter 1 – What Is The 10X Rule?
In The 10X Rule, Grant Cardone says that you need to adhere to this rule to achieve the success you desire:
10 X Rule – the principle of setting “targets that are ten times what you think you want and do ten times what you think it takes to accomplish those targets”
You need to think massive thoughts and then take massive actions. You need to dominate and do what others are never willing to do and take actions that seem unreasonable.
Most people make these four biggest mistakes when they set goals:
1. Mistargeting by setting goals that are too low and don’t allow for enough motivation.
2. Severely underestimating the requirements such as actions, resources, money, and energy.
3. Wasting time competing instead of spending time dominating their sector.
4. Underestimating obstacles that must be overcome to achieve the desired goal.
When one sets a goal too low, his or her potential success will be limited by their actions to create and maintain it.

Chapter 2 – Why The 10X Rule Is Vital
When most people (including managers) fail to hit their targets, they respond by lowering the targets rather than increasing their activity. Instead, great managers will push themselves and their people to produce more at the risk of coming up short rather than targeting less.
Changing targets to appease people will result in less activity and more excuses making it harder to achieve your goals. When you start rethinking targets and creating excuses, it should indicate that you are off track. Instead, you should correct your initial estimation of effort.
In The 10X Rule, Grant Cardone states that the target is never the problem. Any target attacked with the right actions in the right amounts with persistence is attainable. Thus, never reduce a target, and instead, increase activity.
Chapter 3 – What Is Success?
Success is the degree or measure of attaining some desired object or end. The most important things to understand about creating and maintaining success are the following:
1. Success is important.
2. Success is your duty.
3. There is no shortage of success.
You must never reduce success in your mind as it is vital. When you minimize the importance of success to your future, you are giving up on your potential for what you can accomplish.
Success is equally essential to a person’s sense of self as it promotes confidence, fosters creativity, provides security, and enables contribution.
Chapter 4 – Success Is Your Duty
In The 10X Rule, Grant Cardone argues that many people fail to create success for themselves because they treat it as an option. Instead, approach success ethically as follows:
“Success is your duty, obligation, and responsibility.”
Successful people create their own luck because success naturally breeds more success. When you achieve your goals and build momentum, it will compel you to set and reach even bigger goals. Repeated achievement of success becomes habitual.
Chapter 5 – There Is No Shortage Of Success
The way you think about success is just as important as how you approach success. Many people think about success in terms of scarcity. However, there is no “limit” to how much success can be created for you and others.
Organizations can manufacture shortages by making you believe that there are limited amounts of your needs or wants. This “shortage” produces urgency, which inspires people to buy their product or support their cause.
Success cannot be restricted in any way. If you operate with this belief, you will reduce your ability to create success for yourself.
“Success for anyone or any group is ultimately a positive contribution to all people and all groups as it provides validation of the possibilities to all.”
Chapter 6 – Assume Control For Everything
In The 10X Rule novel, Grant Cardone says, “Success is not something that happens to you; it’s something that happens because of you and because of the actions you take.”
Successful people accept high levels of accountability for their own success or failure. Thus, you should assume responsibility and control for everything that happens in your life comes.
Instead, those with the victim mentality believe that life happens to them due to the negative actions of others. There are four consistent factors in the life of the victim:
1. Bad things happen to them,
2. Bad things happen often,
3. They are always involved, and
4. Someone or something else is always to blame.
Chapter 7 – Four Degrees Of Action
Regardless of which degree of action you operate in, they all require work in their own ways. There are four simple categories or degrees of action:
1. Do Nothing: No longer take the actions needed to move forward to learn, achieve, or control some area.
2. Retreat: Take actions in reverse, most likely to avoid negative experiences that they imagine will come about due to taking action.
3. Normal Action: Like that of most people, you appear on the surface to take the necessary amounts of action and to be “normal.”
4. Take Massive Action: Take 10X action to generate new problems, confront making unreasonable choices, and attract criticism from others.
Follow the 10 X Rule, take every opportunity that comes your way, and deliver at massive levels of action. Making massive action a habit will help you harness the power of habit to break you through obscurity, provide more value, and generate success.
Chapter 8 – Average Is A Failing Formula
In The 10X Rule, Grant Cardone discusses that being average is a formula for failure. Any undertaking that includes accepting average will not get the work done and fail you sooner or later. Average doesn’t work in any area of life. Anything that you give only average amounts of attention will start to subside and eventually cease to exist.
Average never yields anything more than average and usually much less. Average thinking and actions will only guarantee you misery, uncertainty, and failure. Get rid of everything in your life that is average, including the advice you get and the friends you keep.
Chapter 9 – 10X Goals
Many people fail to accomplish their goals because they are average and not set high enough from the start. To maintain enthusiasm, Grant Cardone states that you must set goals using the 10X Rule to raise your attention. As many have been taught to limit themselves, keep the following in mind when setting goals:
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.
Now, sit down and do the following to set 10X goals:
1. Set 10X targets.
2. Align them with your other purposes.
3. Write them down daily when you wake up and before bed until you have achieved them.
Chapter 10 – Competition Is For Sissies
What does 10X mean in business? Many believe that competition is good as it may help provide customers with choices and compel others to do better. However, in The 10X Rule, Grant Cardone argues that you should strive to dominate, not compete. “If competition is healthy, then domination is immunity.”
Here is the only difference between dominating and competing:
* Competition – the strive to gain or win something by defeating or establishing superiority over others who are trying to do the same
* Domination – the exercise of control or influence over someone or something, or the state of being so controlled
To dominate, observe the “best practices” or the capability, actions, and mindset of those you compete against. Now, follow your “only practices” to do what they are unwilling to do and take 10X actions they fail to understand.
Chapter 11 – Breaking Out Of The Middle Class
The 2008 Census found that the middle-class income range is between about $35,000 to $50,000 per year. Many people would not consider this income desirable as those in the middle class don’t feel totally secure and consider themselves more in the working class.
The people were sold the dream that the middle class was the standard to strive for. However, the “middle class is the most suppressed, restricted, and confined socioeconomic demographic in the world.” These people feel and act to be just good enough, comfortable, or satisfied.
Chapter 12 – Obsession Isn’t A Disease; It’s A Gift
Many treat an obsession mindset like a disease, but in The 10X Rule, Grant Cardone claimed that it is the perfect way to approach success:
Obsession – “a domination of one’s thoughts or feelings by a persistent idea, image, or desire”
Obsession is required to tailor each thought and action to achieve your purpose and be successful. It shows your commitment to your idea, purpose, or goal to the world and gets you taken seriously.
“Most people make only enough effort for it to feel like work, whereas the most successful follow up every action with an obsession to see it through to a reward.”
It follows that most people view “obsessed” with negative connotations, while the most successful become obsessed on some level. And when they do achieve extraordinary success, they are no longer viewed as crazy but instead are amazing, geniuses, and exceptions to the rule.
Chapter 13 – Go “All In” And Overcommit
Most of society discourages the all-in mentality because we are taught to play it safe and not put everything at risk. Likewise, many entrepreneurs and salespeople suffer most when they fail to go all-in as they believe that they are doing much more than they actually are. As a result, they struggle getting to yes.
Instead, you should go “all in” with your efforts, creativity, energy, ideas, and persistence on every action and fully commit to every opportunity. Avoid thinking 80/20; instead, you must overcommit and overdeliver to make yourself grow, as it will force you to deliver at 10X levels.
If you are not creating new problems for yourself, then you aren’t taking enough action. You need to face new issues and dilemmas that will challenge you to keep finding and creating solutions.
Chapter 14 – Expand And Never Contract
Because contraction is a form of retreat, Grant Cardone states that it violates the 10X Rule. Regardless of the situation or circumstances, most people are not taking massive action. And instead, you should continue to act, produce, and create in huge quantities.
In difficult times, it may seem difficult and counterintuitive to expand while others are taking protective measures. However, you should take advantage of the opportunity. Sometimes, you may have to defend, retreat, and conserve, but do so for short periods to prepare and shore up resources, reinforce, and attack again.
Chapter 15 – Burn The Place Down
Once you take 10X actions and start getting traction, you must continue to add wood to your fire until you burn the place down. Massive success demands constant attention., so keep going so that not even competitors or market changes can put your fire out.
Stop worrying about competition and uncertainty and build a fire so large that the world notices. Other people and your competition will come to you and admire your ability to take action.
Chapter 16 – Fear Is The Great Indicator
When trying to implement the 10X Rule, Grant Cardone says that you will experience fear as you will have to take new actions at new levels. If you aren’t experiencing fear, then you are probably not doing enough, as fear shows that you are taking the right actions to move in the right direction.
FEAR stands for False Events Appearing Real, which means that most of what you are afraid of usually never happens. Typically, fear is induced by emotions, not rational thinking.
Everyone experiences fear on some level, but rather than seeing fear as a sign to run; it must become your indicator to go. When you experience fear, you need to take the fear on and take action at that very moment.
Chapter 17 – The Myth Of Time Management
Those concerned with time management and balance typically believe in the notion of scarcity in life. Thus, to be successful, you need to forget about time management and instead set distinct and definitive priorities. You should ask yourself, “how can I have it all in abundance?”
Determine what is important to you, and based on the time available, then you can figure out how much effort is required and how to best use your time. Increase time by getting more done in the time you have or hiring people to duplicate your efforts.
“Most people only work enough so that it feels like work, whereas successful people work at a pace that gets such satisfying results that work is a reward.”
As you move through your life and career, you will achieve, change priorities, and set new goals. For family, determine a schedule that works for all of you to maintain focus on priorities.
Chapter 18 – Criticism Is A Sign Of Success
Many dislike criticism, but in The 10 X Rule, Grant Cardone argues that receiving more and more of it is a sign of success:
Criticism – “the judgment of the merits and faults of the work or actions of one individual by another.”
When you start using the 10X Rule, becoming successful and gathering attention, criticism should be expected. You need to anticipate that criticism on your journey to achiving success.
Instead, if you try to avoid attention and criticism, you are holding yourself back from your potential. However, once the critics and naysayers understand that you aren’t going away, they may imitate your success or give up on criticizing you.
Chapter 19 – Customer Satisfaction Is The Wrong Target
Many people and companies worry that implementing the 10X Rule will cause them to be too aggressive and damage their customer satisfaction:
Customer Satisfaction – “measures how the products and services that companies supply meet—or exceed—customer expectations after the purchase
This metric supposedly differentiates; however, many companies fail due to the inaction of not acquiring the customer in the first place. Instead, you should focus on commanding attention and generating new customers by prioritizing actions as follows:
1. Acquire customers via amazing products or services;
2. Impress them with how great you are during the acquisition process; and
3. Establish customer loyalty through repeat purchases, support, referrals, etc.
When taking 10X actions to acquire customers, you will encounter customer complaints and issues. Treat complaints and dissatisfaction as opportunities to communicate to your clients.
Chapter 20 – Omnipresence
As our world places the most value on things that are omnipresent, in The 10X Rule, Grant Cardone emphasizes that it should be your goal:
Omnipresence – “conveys the concept of being everywhere—in all places, at all times”
Having an omnipresent mindset means to think and act to make yourself known and available everywhere. You can create a name for yourself that gets you recognized as important:
“Your name is your most important asset. [People] can take everything away from you—but they can’t take your name.”
When people know who you are, they will pay attention. Thus, operate using the 10X Rule and think always to be everywhere and dominate your sector. Create a higher purpose to fuel you to take 10X actions and rocket yourself to omnipresence.
Chapter 21 – Excuses
Everyone uses excuses, and they are usually never the reason for not doing something, so we need to confront them:
Excuse – “a revision of the facts that you make up in order to help yourself feel better about what happened (or didn’t).”
In The 10X Rule, Grant Cardone states that excuses are for those refuse to take ownership for their actions and outcome. Thus, it is essential to understand that excuses never improve your situation and determine which excuses you use regularly.
Remember, “Nothing happens to you; it happens because of you.” If you want to be successful, then you must commit to never uses excuses again.
Chapter 22 – Successful Or Unsuccessful?
Successful people talk, think, and approach situations, challenges, and problems differently than most people. Grant Cardone provides his list of ways you should act to be successful:
* Approach every situation with the outlook that it can be done, and you will be successful.
* Say yes to opportunities, embrace challenges, and solve problems.
* Get motivated, persist, and go all the way until successful.
* Be courageous and take risks that seem uncomfortable, unreasonable, and dangerous.
* Create wealth by exchanging new ideas, products, services, and solutions.
* Be result-oriented in your goals and focus on the action you are taking now.
* Continuously learn, embrace change, and go beyond traditional ideas
* Create your own reality and determine the right approach
* Value relationships with those in your company or that are more successful than you.
Be aware of the list, and work to operate doing what successful people do.
Chapter 23 – Getting Started With The 10X Rule
In The 10X Rule, Grant Cardone claims there are only two times that exist for successful people:
* Now: Take massive action today.
* Future: Focus on the vision that you are trying to create.
Acting now means making an initial list of goals and then a list of actions that will propel you in that direction. Without hesitation, start taking those actions and keep these things in mind:
1. Do not reduce your goals as you write them.
2. Do not get lost in the details of how to accomplish them at this point.
3. Ask yourself, “What actions can I take today to move me toward these goals?”
4. Take whatever actions you come up with regardless of what they are or how you feel.
5. Do not prematurely value the outcome of your actions.
6. Go back each day and review the list.
The 10X Rule can be overwhelming, but Grant Cardone says that you must start thinking big and taking massive action to succeed.
Success is your duty, obligation, and responsibility. Therefore, you need to commit to 10X thinking and 10X action as this is the significant difference between success and failure.

Why I finished this read: the title says a lot. From the very beginning Cardone goes head down and plows through ways to get ahead financially. Often times I reminded myself he is preaching a way to get ahead for himself, his family, wife, family, employees and people that buy into his no-nonsense ways of winning even throughout I needed to remind myself he wrote this book for this purpose and I finished so I could get what I could get even though I knew I more than likely would not do all he recommended and knew he warned against going about thing that sabotage his ultimate goals. I will likely fall short and not get close to what he is teaching and yes, that will be my fault and it is a “failure on my part” in his mind.

Stars rating: 2 out of 5 stars. Basically, the book says to set big goals, take responsibility for yourself and do whatever it takes then do it. He covers a lot of what to do but not so much of how to. I think Cardone is passionate about his thoughts, they seem to have worked for him but in the end this book could have been covered in a short synopsis.… (más)

February 20, 2023 How To Create Wealth Investing In Real Estate by Grant Cardone.

Why I picked this book up: Being disabled and responsible for my wife and 6 offspring I began considering making money in real estate. I started watching Richard Taylor on TikTok then I’ve been watching Pace Morby on YouTube and during my look into this domain the name Grant Cardone came up and he gave this free book to share how to make money with real estate.

Thoughts: First, I am thankful for people sharing information and I am going to work on earning money for my family with ideas I pick up from these resources. A lot of people talk about a home as an investment, but in reality it is not an investment, it is liability. Cardone said, “Houses were created for banks to profit, not for people to profit, and are mere traps.” I agree with this statement in this book. This book was fantastic. I laid out a lot of information, showed some of the complexity, gave good stats, planning and understanding of money and taught of his mistakes and good structure for multiple doors, that are worth doing vs a one door set up.

Why I finished this read: I know as he said, “I understand you have to live somewhere and your argument that it is cheaper to own than rent, but this isn’t true.
A study covered by CNBC suggests, “Homeownership is not a way to build wealth. It may be a place to save money - not make money.” I wanted to finish to learn what the title says. He also taught, “Wholesaling could be a good vehicle for getting the cash down payment to start buying apartments. Single-Family Home Rental – This requires collecting single-family homes in your market and then renting them out, one at a time and keeping them for long periods of time. While this can provide big percentage returns, you are simply trading time and stress for that return.” He informed, “The big guys don’t spend time and energy buying little deals, they only buy the big stuff in great locations.” He pointed out, “Do the math on eight doors and you can see why.” I also read, “Scale.” Good perspective, “Apartments allow ordinary people to protect their hard-earned money, and get positive cash flow, while they wait for appreciation and pay down debt. This, I call “The Ultimate Multiplier” or what others refer to as leverage.” Warren Buffet said, “The first rule of investing is ‘Don’t lose money.’ Rule number two is ‘Don’t forget rule number one.’”
He’s also said, “Never invest in anything with the idea it’s ok to lose money.” These simple concepts have shaped his commitment to apartments as the best investment for him.

His knowledge, “Investing in Apartments. Cheaper is not better. I have made my best deals, and best returns, on buying high and selling higher.”

I learned “Buying Too Small – Anything under 16 units will not produce enough free cash flow to warrant doing the deal. Single-Family Home Rentals – This is an issue because you are dependent upon one tenant. Never invest in one door. Live where there is one door and own where there are many.”

“In summary, buy apartments. Don’t go small, don’t buy the junk, buy the best product in the market place, make sure you have cash flow, and take care of the property and the tenants. When you find that deal: move fast.” At the end there were great principles.

Stars rating: 5 out of 5. This book was informative, realistic, eye opening and valuable to me.… (más)

The reason most people never get rich is that they never even consider it a possibility.

Be selective about where you get your advice.

Never take advice from a quitter or a pretender

Those brought up poor and middle class inherit the beliefs of the poor and middle class.

To get rich, you have to learn to be an office most of the time, not defense.

Step one: The millionaire decision
Put a stake in the ground right now, “I am going to become very very rich “

The first step to becoming a millionaire is to make a decision and that requires you to lose your middle-class mind and then get your millionaire mindset.

step two: millionaire math
Second step is to simply do the math.

Step three: increase income
Money seems to flow to those who give it the most attention and who take the most responsibility for it

For those who believe you must own or operate a business to get rich, it is not true. In fact, three out of four millionaires work for someone else.

Step 4: who’s got my money?
Make a list of who has your money and figure out what you can exchange with them. place all of your focus on these individuals.

If you spend all of your time with people who can’t pay you, you end up being someone who can’t pay.

Step 5: stay broke
Invest as much income as you can and set up a direct deposit for an amount through your employer. this state of staying broke or force you to continue to produce new revenue.

Grant states that without knowing what my second business might be or even what I would invest in, I continue to prepare myself for the day when I would expand.

“Pay the price today so you can pay any price tomorrow“

Step 6: save to invest, don’t save to save

Step 7: multiple flows of income
Poor people try to replace flows of money while rich people are trying to supplement or add new flows.

When creating your second floor of income, make sure to closely connect something parallel or some biotic to your current flow and never abandon the first flow. build it up to a point where someone else can thin at that point manage it for you.

Step 8: repeat, reinforce and hyper-focus

When you change you may become a threat to all those who don’t

When becoming a millionaire, you will at some point need to change your environment which include your friends and family.… (más)