#140: How To 10x Your Outcome // Recapping Our Grant Cardone Interview // Next Level Pros Podcast
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How did Grant Cardone rebuild his empire after financial collapse?
Have you ever considered that losing everything may be the greatest opportunity that you have? In today's episode, we're going to go back into the archives and pull out one of my original interviews with Grant Cardone, where Grant shares with us how going from a $10 million net worth to almost losing everything was the foundation of building his billion dollar empire. He'll dive in and share with us how thinking bigger is the only thing that allowed him to pull himself up by his bootstraps and regain it all. And one of the craziest things that when he wrote the 10X rule, one of the best sellers in the self-development industry was written for himself as a personal manifesto to be able to take himself to the next level.
What is the 10X Rule and how did it originate?
After we hear from Grant, we're going to come back and remark and share a few of our thoughts. Let's dive in. Take me back to the middle of the crash. You're worth a couple million bucks. You're 50 years old or just after 50. What's going through your mind? What decision did you make at that point that's catapulted you to this amazing success.
Yeah, well, what was going through my mind was, and this may sound ridiculous to people, but I'm like, I am fucked and I fucked up. And, you know, like for those of you who don't understand that concept is like, I had worked for 26 years and saw my entire net worth over a weekend when Alina collapsed go from, dude, I was good And then all of a sudden I wasn't good. And this is why I wrote the 10X rule. The 10X rule is basically a concept about we set goals and targets and we find places of comfort that are too small. They don't have, you know, insurance for the average American today, like if you have three months of savings, you think you're good. You're not good, okay? You don't need three months of savings. You need assets that save you for 30 years.
And unfortunately, the financial planning in this country and the financial illiteracy and the indoctrination and the popularity of these financial gurus telling you guys to pay your debt off and to basically have three months of savings is ridiculous. Right. Because millions of people, tens of millions of people lost their homes in 2008. And they've never recovered from it. Right. And so, you know, the first thing that changed was I realized I was, like, that I had fucked up.
How does personal accountability factor into success?
So you took the personal accountability, right? You're like, this is not on anybody else. This is on me.
This ain't a team deal, bro. Like, I watched the Celtics get their ass whipped last night. And then one of the players was like, yeah, we just didn't play as a team. Bro, first thing you got to say is you fucked up. You got to say, I messed up. And then, by the way, if you mess up, the team's going to mess up. In my case, I didn't have a team, right? It was me and a couple people. That's not a team. That's a group, a small, tiny group of basically three musketeers. Three musketeers didn't do anything great ever. And you need an army man. So, uh, so first thing I did was, Oh, I screwed up here when I thought I was good. Second thing is I got to realize what, what did I do wrong? I have to figure out what, what is the thing I did wrong? I identified that.
And what I did wrong was, uh, uh, I went too small. So when I wrote the 10 X rule, when I wrote that book, you showed, um, or talked about, I'm like, oh, I get it. I needed 10 industries. I had one company that paid me. I had one industry that paid me, two companies that basically could go out and get it. And then I dumped it into the real estate. The two businesses were both slaughtered. I mean, slaughtered, bro. Like one day they were doing great. The next day they literally could not pay bills. Right. And I was not part of the mortgage crisis. I had nothing to do with the mortgage crisis. I did not buy a bunch of houses. The 200 units that I had actually in the shopping center actually cash flowed me through the collapse. Wow.
So when I wrote this, this book was not really written for other people. I was literally trying to figure out what am I going to do to get a bigger audience? How am I going to scale to other industries? So back then, we talked to one industry every day, which was automotive. And today, automotive was literally 100% of all my revenue. Today, automotive is less than 1% of my revenue.
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Chapters
6 chapters
1
How did Grant Cardone rebuild his empire after financial collapse?
0:00–0:41
2
What is the 10X Rule and how did it originate?
0:41–2:40
3
How does personal accountability factor into success?
2:40–7:00
4
What role does massive action play in achieving success?
7:00–9:57
5
Why is having a clear vision crucial for success?
9:57–18:25
6
How can setting massive goals motivate action and success?
18:25–33:08
Speakers
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