Home Human Resources News Why growing your business 10x is easier than growing it 2x

Why growing your business 10x is easier than growing it 2x

7th Aug 12 8:53 am

Dan Sullivan, founder and president of Strategic Coach, explains how aiming to grow 10x will transform your thinking in ways an incremental goal won’t

If you could choose one thing in your life to multiply 10 times, what would it be? Would it be your profits, your sales, your time off, your charitable contributions?

Whatever you imagined, the second thought you had was likely a list of objections about why 10 times (10x) is impossible. But what if I told you that multiplying something important to you by 10x is actually easier than merely doubling it?

How could this be? It seems counterintuitive, even illogical. Perhaps you find 10x too daunting or overwhelming to think about, especially if you’re struggling with the complexity of the day-to-day in a tough economy. Even 2x growth might seem like a stretch.

The challenge with 2x is that incremental progress is based on doing things much the way you’re already doing them, using your current capabilities but just trying harder, demanding more of yourself and your team.

Going for 10x, on the other hand — now that would take an entirely new level of creativity, ingenuity and excitement. You’d have to make huge leaps in your value creation, efficiency, resourcefulness and teamwork.

For the past two years, I’ve been challenging my clients in the Strategic Coach Program — many of whom have already grown 10x with us — to develop the capability to take anything in their lives 10x. I’ve created a structure to support them in growing 10x again, and even though it’s a big goal, I know it’s going to be easier, more rewarding and more fun than anything they’ve experienced so far. Here are three reasons why:

1) 10x thinking shows you what you need to do next.

As soon as you establish 10x goals for yourself, you gain an incredible clarity of vision. The question “Will this help me grow 10x?” becomes a constant ally, helping you make decisions in an instant. It’s like buying a red car, then suddenly noticing red cars everywhere: your mind becomes attuned to the idea of 10x growth and can immediately recognise circumstances and resources that can contribute to it.

2) 10x thinking shows what you need to stop doing

When you’re aiming for 10x growth, everything that isn’t consistent with that goal will suddenly reveal itself and become glaringly obvious. Old habits that held you back, unproductive relationships, bits of bureaucracy that have crept into your organisation — you’ll know that it’s time to leave these behind and be able to do so more comfortably. These passengers are not bound for your destination.

3) 10x thinking brings out your greatness as a leader

Many entrepreneurs dislike having to manage and motivate their team, but when you focus your team on a 10x goal, these become much easier. In fact, much of it will happen without any extra effort on your part. The right people will gravitate to your organisation — people who aren’t just looking for a paycheque, but who want to use their skills in service of something big. Your goals are energising to them, and they’re always looking for ways to do things 10x faster, easier, cheaper, and bigger. Think of it as a pot of water heating up: each individual 10x innovation is like a small bubble that combines with others, ultimately bringing the whole pot to a rolling boil.

10x is the only path that’s guaranteed to bring continued freedom and success in a world where change is occurring at an exponential rate, led by technology. Incremental growth simply won’t keep you ahead of the curve anymore. The future belongs to 10x companies.

And growing a 10x company is much easier and more enjoyable than you think!

Dan Sullivan, founder and president of Strategic Coach

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