“We know what we are, but not what we may be.”
– William Shakespeare
In Module 30 of the Business Finishing School Program, “10X Thinking”, we inspire you to imagine your future from a 10X perspective. What would that mean for you and your business life?
At our February bootcamp, Barrett Ersek, CEO of Holganix, also asked us to look at many aspects of our business from a 10X perspective. He asked us how we could cut costs by 10X, which really means to lower them by 90% in some areas. He asked what are our industry bottlenecks, that if solved, would give us a 10X boost. He asked us to think of products and services, that will help us grow by 10X.
To truly appreciate the topic of Module 30, you have to know that it is very difficult to achieve MASSIVE results by only growing something incrementally, for example: only 10% growth per year. Instead, you must force yourself to think 10X. This allows you to see a whole new world of possibility. Have you actually achieved 10X before? You would be surprised to know that you probably have. When you started your business, you actually started from zero. So you had to be 10X at some point in your first year of business!
Thinking 10X forces you to get out of your current box and step into a new paradigm. When Tesla decided to compete with GM, Ford, and Chrysler in the automobile business, they didn’t say “How can we make a better car?”. They asked “How can we revolutionize and transform the entire world of energy?”.
Where is this opportunity in your business? Brainstorm this question with your team, your mentors and your clients.
Think about some other non-numeric things that you’d like to 10X. Maybe your freedom, your happiness, your relationship success, your contributions back to society, your impact on the world, etc. You can also think about this exercise from the perspective of 10X-ing an experience such as leadership, or the energy that you bring to your accountability group. It may even be time to step up your attention, your enthusiasm, or your parenting.
Our hope is that 10X thinking will give you the opportunity to achieve expanded outcomes in all areas of your life. Try to understand that this is something that should be fun, not burdensome. The bigger your dreams are, and the bigger your company becomes, the more that freedom will become a by-product; and freedom is the ultimate form of Simplicity, Probability and Leverage.