Why are we obsessed with 10Xing everything?
Who started this 10X madness?
I know Grant Cardone owns the 10X space these days, but who started this obsession?
As I skim my swipe email folder and Evernote swipe files, I see countless promotions focused on 10X or scaling your business.
These promotions feature the latest hack to leverage Facebook ads, Google ads, YouTube, Instagram, and of course the latest 10X tool, Tik Tok.
Personally, I don't want to 10X my business at this stage of my career but the topic intrigues me because I've been part of many businesses that 10Xed or more.
Do you want to 10X your business?
What would happen if one of those YouTube hacks really did 10X your business?
Imagine you open the doors of your restaurant one evening and the number of customers is 10X.
Could you handle it?
How would your staff respond?
Would you run out of food?
Imagine you're a coach and the latest LinkedIn hack 10Xed your business?
Yesterday you had 20 clients and a manageable workflow.
Today you have 200 clients.
Could you handle 200 coaching calls every week?
How fast could you ramp up that group coaching program?
Now, I'm not against anyone 10Xing their business but you need to plan ahead.
These over-the-top hacks are gimmicks that may work in the short term but aren't a long-term growth strategy.
To be honest, you have a better chance of winning the lottery than one of these hacks actually 10Xing your business.
My first question to you would be "why do you want to 10X your business?"
Even before the pandemic, most businesses struggled to generate consistent cash flow.
Most businesses fail in the first five years, even without a pandemic.
Most businesses don't have a plan to grow their business.
Most businesses don't have any plan hence the high failure rate.
Ryan Deiss of DigitalMarketer.com fame now runs a business called Scalable where they help you create an operating system for your business so you can scale without losing your soul.
I've known Ryan for years and I watched him grow Digital Marketer to an eight-figure business.
What you probably don't know is he was on the verge of bankruptcy a few years ago because he didn't have a plan.
In 2018, I was at a private mastermind in Austin where Ryan and one of his business partners Roland Frasier shared their story.
You're probably wondering how a company can have tens of thousands of people paying $37 per month and they're on the verge of bankruptcy.
After major restructuring, Digital Marketer is thriving.
They even spun off their Traffic & Conversion Summit for an eight-figure profit while retaining most of the control of the conference.
I don't have time to share all of the details or their story here but ping me if you want to hear their story.
If you want to 10X your business and want to run your plan by me, comment "10X" below!
P.S. In case you missed my interview with Lorrie Morgan about becoming a better writer, here's the replay.