Monday, 04 September 2023 04:29

How smart leaders use the 10x rule to clarify everything in their business

Rate this item
(0 votes)

Are you tired of striving for consistent growth, trying to figure out a hundred different ways to grow your business by 10 or 20 percent year after year? 

Well, here's a radical idea: What if I told you that achieving 10x growth might be easier and more straightforward than you think?

In a world with so many avenues for business growth, I recently stumbled upon a refreshing and truly profound concept in Dan Sullivan and Benjamin Hardy's latest book, 10x Is Easier Than 2x

I'll admit the title had me skeptical at first, but knowing that it was devised by Sullivan, considered by many to be the top entrepreneurial coach of all time, and Hardy, an acclaimed organizational psychologist and leadership expert, I figure I'd give it a chance.

And I'm glad I did. I quickly learned a simple mindset shift that every entrepreneur should consider – one which has the potential to revolutionize the way you approach the trajectory of your business.

The Infinite Dilemma of 2x Growth

As an entrepreneur and efficiency consultant, I understand how difficult it is to grow a business, let alone 10x. On a personal level, I'd be happy to double my business – and that sure as hell sounds easier than growing it 10x. 

But the problem with setting a goal of 2x growth or even incremental growth of 10 to 20 percent is that you're often met with an overwhelming array of possibilities. 

It's like trying to choose from an infinite buffet of tactics and strategies. As a result, your focus becomes scattered and your efforts diluted.

10x Clarity

Now, imagine asking yourself, "How can I grow my business by 10x?" Suddenly, the noise clears and the answers become more apparent. 

You see, significant growth rarely comes from small changes or doing more of the same things incrementally. Instead, it stems from laser-focusing on one or a few game-changing strategies.

In his book, Hardy references the work of Alan Barnard, a leading expert on decision-making, who calls this phenomenon 10x clarity. 

By setting an audacious goal, you challenge your assumptions and open your mind to new, innovative ideas. With the noise filtered out, you identify the critical few actions that can lead to exponential growth.

When you shift your thinking to 10x instead of 2x, Hardy and Sullivan say it becomes "absurdly and even comically obvious which strategies, relationships, or behaviors won't work." 

And they're so obviously right. I've thought of hundreds of different ways to grow my business, but if I were to consider only those with the potential for 10x, the list gets smaller. A lot smaller.

Pushing the Limits

So, how do you achieve the seemingly impossible? It starts by stretching your goals beyond what you think is feasible. As we've seen, aiming for 10 percent or even 2x growth leaves room for endless possibilities, but 10x growth forces you to think differently.

Operating outside the bounds of past norms and assumptions is what allows true breakthroughs to happen. By daring to test the limits, you become receptive to groundbreaking approaches that were previously overlooked. 

What you'll find is that, really, there are only a few ways to grow any business by 10x. They're typically big game-changing moves that will require significant time and effort from your team. It's going to be scary – but when you consider the potential upside, it's often worth the risk.

Unlocking Your 10x Potential

Ready to unlock your business's 10x potential? Here are a few steps to get you started:

  • Identify the one big thing: Analyze your business thoroughly and identify one or a few game-changing strategies that could lead to exponential growth. You may want to brainstorm this with your team.
  • Create your roadmap: Figure out what would need to happen to make those strategies work, and map out the projects required to achieve them. This becomes your roadmap for the next few quarters or years.
  • Set impossible goals: Implement a goal-setting framework like OKRs to clarify exactly what you want to achieve. Embrace the audacity of setting seemingly impossible goals. Push beyond the boundaries of what you think your business can achieve.
  • Weed out distractions: Say no to anything that doesn't align with your 10x vision. Keep the lights on, of course, but push low-priority projects to the side and commit fully to your one big thing.
  • Embrace the journey: Remember that achieving 10x growth is a journey, not an overnight miracle. Commit to sustained effort and focus on the long-term results.

See? I was a skeptic too, but when you break it down like this, 10x starts to seem a lot more reasonable than it sounds.

You can't expect a miracle overnight, but the premise is simple: Aiming for 10x growth is the best way to simplify and clarify your business strategy. 

By challenging your assumptions and setting audacious goals, you'll uncover the hidden potential that will drive your business to unparalleled heights.

 

Inc

September 04, 2024

The world’s oldest continually operating company has been around for almost 1,500 years

Founded in the year 578, Japan’s Kongo Gumi construction company is recognized as the oldest…
September 06, 2024

‘No light, no food, no fuel - Nigerians suffering deeply’, Yoruba elders tell Tinubu to…

The Yoruba Council of Elders, YCE, Wednesday, told President Bola Tinubu, in an unmistakable term,…
September 06, 2024

If you agree with these 3 statements, you might be a cynic

Renée Onque Being cynical may seem harmless, or even safer than trusting others, but that’s…
September 07, 2024

Woman claims daughter became pregnant by wearing underwear purchased online

A Chinese company recently published a series of texts between its customer service and a…
September 05, 2024

Gunmen kill 16 in fresh attacks on Plateau communities

Fresh attacks, Tuesday night in the Daffo and Kwatas communities of Bokkos Local Government Area…
September 07, 2024

Here’s the latest as Israel-Hamas war enters Day 337

The Philadelphi corridor: What it is and why it matters to Israel-Gaza ceasefire talks The…
August 28, 2024

New study says China uses 80% artificial sand. Here’s why that’s a big deal

The world is running out of sand. About 50 billion tons of sand and gravel…
August 31, 2024

3 days after NFF’s announcement, Labbadia rejects offer to coach Super Eagles

Bruno Labbadia has rejected his appointment as the new head coach of Super Eagles of…

NEWSSCROLL TEAM: 'Sina Kawonise: Publisher/Editor-in-Chief; Prof Wale Are Olaitan: Editorial Consultant; Femi Kawonise: Head, Production & Administration; Afolabi Ajibola: IT Manager;
Contact Us: [email protected] Tel/WhatsApp: +234 811 395 4049

Copyright © 2015 - 2024 NewsScroll. All rights reserved.