While Grant Cardone was in Singapore, I sat down with him at his suite at Marina Bay Sands with the view of Singapore’s Central Business District behind us to discuss how to get the mindset to 10x your life, income and business. Too many people are playing an incremental game, as in how can I go from closing 40 deals to 60 deals or earning 100k to 200k?
Interview with Grant Cardone in Singapore
Too many people are playing an incremental game, as in how can I go from closing 40 deals to 60 deals or earning 100k to 200k? When I met up with Grant Cardone last week he shared how he thinks everyone should plan and aim to 10x their business and income.
Below are some of the highlight of the interview.
There’s so much competition for attention today. Having a great product isn’t enough. There are terrible products that win every day, and this is really important, the best products do not always win the game. It’s the product that is in most places that will win the game. If you could combine the best product with the most attention, then you’re going to dominate the game. So do people know you? Are you getting enough exposure?
Monetise, Monetise, Monetise
If you have good content, it should monetize to a product unless you haven’t taken the time to create products and services that actually solve the problem and support what your message is. If you’re spending time and energy on something, you need to monetise it. Van Gogh is a perfect example of a guy that never monetised. He is today known as one of the greatest artists who ever lived. He has a massive production of art with such phenomenal works but only sold one piece in his entire life. Do you know many people got rich off of Van Gogh because Van Gogh was a great artist and didn’t monetise? He should have created that wealth. It’s about tying the social together, they are just mechanisms like TV years ago and our newspapers and the barker in the circus, to get attention in order to monetise.
Have Someone or Something to Push You
Even Grant Cardone has someone who pushes him to go to the gym. As the saying goes: My money goes, where my attention goes, where my money goes, my attention follows. Sometimes it’s not just someone who can push you to help achieve your goals but things that you buy can also help you push yourself. That’s why it’s important for people to buy things because when you buy an expensive watch, you’re going to take care of that expensive watch. You buy an expensive car, you going to take care of it. So, things that have value can help motivate to push you.
Having That Commitment to 10X
Here are some things about 10X. Number one, you’ve gotta make a commitment to 10X. If you’re looking for a little change, you’re not going to change at all. Grant has found this with people and companies, they try to change a little bit, but end up changing nothing at all. This is why the New Year’s Eve resolution doesn’t work because the change is so minor like, I’m gonna make more money this year. More money is not going to change your life. A lot more money, 10X more money will. And if given 10 times more, how would your life be different?
So, do you guys have what it takes to make that big commitment? Not little changes. Little changes don’t do anything. Example, if someone is going to jump out of a 40-storey window, it is a different conversation than someone jumping three feet, right? So, by making that 10X difference, it changes everything that person is thinking and then makes it possible for them to actually make the shift.
What Got You Here Won’t Get You There
People need to unlearn and learn new things. They can’t hope things will happen if they’re not willing to invest or learn the things that they need to learn. Example, if you stack more data on top of a junk pile, you end up with waste on top of waste. Even, if you could throw some gold on top of the waste dump it’ll be just trash.
It is possible that the information you have holding on to is wrong. People working for Facebook, making $250k in Silicone Valley, have no money left over at the end of the year. No retirement money, no savings money. They don’t own anything, following the same set of rules or following the same set of data. This is because they have data that is incorrect, you can’t have this many people, not doing well. You need to say, wait a minute. Where did all of the data come from? Example when you watch people play Black Jack. Everybody knows what to do when there’s a six on the table. Everybody’s read that book. Everybody’s losing using the same rules.
Same goes when Grant Cardone did a poor investment in his early days where he says: I had more money in a retirement account than I had invested in my business, had more money sitting in a bank. Now, who won?” … “That’s right. Exactly. And so I had to start looking at why. Why am I doing what I was doing? My Dad was convinced of it. My mom was convinced of it, so was I at 20 years old. I was saving money for retirement accounts. Stupid. Where did I get that data? Because I was being hit with that message from TV every day. My teachers were telling me to plan for retirement. I was 20 years old. You don’t need to plan for retirement when you’re 20 years old. You need to go make money.
Multiple Flows of Revenue
Invest in multiple flows of revenue. If you’re not wealthy, you should only be investing your cash in things that provide instant cash flow. Warren Buffet says: if you don’t figure out a second flow, you’re going to die at a job with one flow.
So, you have to produce another flow. Some of the ways to get cash are to trade time for money or raise money from investors or give up equity in your company, or take the money and buy real assets that produce more money, whether you’re sleeping, working, travelling, or where ever you are, it doesn’t matter.
Don’t be a one flow hoe-Grant Cardone
Tony Robbins talks about having an exit for your business, otherwise, you’re just going to be a slave to your business and most businesses do not have an exit. You can plan on any kind of exit you want. You’re never going to have an exit because they’re not built for exits and most businesses are actually going to be destroyed by technology developments.
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