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Okay, so let's talk about three ways in which you can grow your business.

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And this is a whole new module.

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And you know, what we're after here is the idea that everybody understands the economics

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of the business.

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And what I've learned is that there really are only three major ways you can grow a business.

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And if everybody understands what you're doing, and you don't have to just implement one of

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them, but when everyone understands how you make money and how they fit in, that empowers

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them to act like owners.

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If you keep that kind of information away from your team, what happens?

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It's much more difficult to buy in, to share, to lead their own contribution.

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So let's talk about, you know, the key thing that is driving the sense of ownership for

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a lot of people is feeling like they're part of it, feeling like they belong.

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Even if they don't, quote, have shares in the business, they still feel a sense of

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ownership in the business.

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So we're going to talk about, you can grow your business by 10%, 100%, or 10x.

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So I made them all 10s.

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Now, obviously, when I mean 10%, I'm talking 10 to 20%.

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And the way you get a 10 to 20% lift is process.

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Focus on the process.

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Improve your processes, cut out steps, outsource things, you know, cut costs.

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But that's why you can never cut costs or cut your way or budget your way to success.

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And at some point, you have to have revenue.

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And so an easy way to get 10x is just to make it better.

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Improve your customer service, refine your sales processes, whatever your different parts

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of the business are, there's a 10 to 20% lying there for you.

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Pretty easy.

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In most cases, that's pretty low-hanging fruit for most companies.

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The next idea of 100% growth, so how are you going to double your revenue?

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And the key way there is to add a new product or a new service.

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So you can't just milk the existing business to get where you need to be.

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If it took you 100 transactions to pull in what you're doing, you can improve those transactions

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and get your 10 to 20% process growth.

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But if you really want to double the business, you need something new, something fresh.

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It's amazing to me how oftentimes we're chasing new customers when people who are our raving

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fans are willing to give us more money.

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They love what we do, they're all in, they're like, what else have you got?

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And we're too busy selling the small ticket item because we're not focused on the bigger

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ticket items.

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And when we say new product, often if you think of the Pyramid of Fandom, and someone's

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going to remind me in a second who called it that, but the Pyramid of Fandom is you've

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got your lower ticket items at the bottom and you're slowly building up.

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And as people are being introduced to your community and slowly becoming up to raving

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fans, your big ticket items sit at the top.

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And one of the big mistakes we make as a business is we don't start at the top, we try and start

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at the bottom and work up.

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And so this is one of the easy growth points for us.

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Our next thing is to look at 10x growth.

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And here's where we're going to spend most of our time.

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So here's where we need to pivot.

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We need to reimagine the business.

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We need to step into a new possibility.

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And I want to talk about why 10x actually is much kinder to your mind than the other

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two.

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And it may sound a contradiction.

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And if you love this sort of thing, one of the guys that I love to follow is Dan Sullivan.

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He has a great book called 10x is easier than 2x and some of the materials there if you

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want further reference.

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But today I'm just going to focus on the core ideas of 10x.

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So yeah, we can process, get 10%, we can add new product, 500%, or we can pivot to look

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for that 10x growth.

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Now the reason is, and why 10x is, you know, when most people hear 10x it's like, no, no,

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I can't do that.

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And there's a reason you have that response.

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Basically, we go to the first two options, you know, process and adding new product.

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But for the most part, you know, they're healthy, but they're not that inspiring.

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You know, if a new product could be inspiring, but fixing processes, I don't know about you,

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but I don't find that particularly inspiring.

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And here's why.

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Because if you're looking at 2x, let's double our business, you're thinking along the lines

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of, well, let's go back to it took 100 transactions to pull this off.

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Now you're saying I have to do 200 transactions?

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Oh my goodness, do you have any idea how hard it was to do the 100?

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And now you want me to double that?

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I'm exhausted right now.

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I'm discouraged already.

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You know, I don't even want to get into that.

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And so, because here's the reason why.

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Dan Sullivan does a great job of explaining the psychology of why we feel discouraged

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and exhausted. It's because 2X makes you look to your past. Right now I just said I looked

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to last year and said we did 100 transactions. Now you're asking me to do 200 transactions.

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What's happening here is my past is negotiating with me about my future. And that's why there's

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no excitement in this. It's like I'm trying to say okay well how would I take that 100

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and what would I do to my team. And so the 2X and the process stuff is largely uninspiring

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because it feels exhausting. Because it feels like I'm thinking about the direct correlation.

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The effort it took me to produce that 100, those 100 transactions and now I have to double

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that effort. And here's the interesting thing, you don't have to double that effort. And

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why 10X inspires us so much is, well firstly we're not talking about necessarily in 12

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months. But think for a second, just take a minute here. If you added a zero, you found

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the missing zero, you 10X'd your business. Let's start with the easy one, revenue. If

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you had 10X the revenue and you knew that you knew that you knew this was going to happen

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this year, in the next 12 months, how would you lead? How would you think? What kind of

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customers would you take on? You see immediately it becomes exciting, right? Because it creates

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energy and it engages our imagination. We start dreaming again. Oh my goodness we could.

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And you start to think about your purpose and is this what I want to spend my time doing?

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And again it's not just about the money but what 10X does for us is it opens up a new

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territory. Why? Because now our future is presenting us with an entirely new possibility

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that our past can't comment on. You've just freed yourself from your past. And what you've

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done is you've also freed your present from the past. Because there's nothing that you

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can look back on and say oh we can leverage this, we can tweak that. You don't have anything.

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So you have to re-imagine. So now suddenly we're re-engaging our dream machine. And then

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we start asking our team what if we could actually do 10X? We did this exercise in our

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company last December and it was amazing how people stepped into it. And you would think well

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people would be upset by that. They're not. People love the idea that we could actually

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pull this off. It really does release energy and creativity. Look here's the bottom line. As a

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leader, as an executive specifically, but as a leader and we're talking about being a team of

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leaders, so that means this applies to everybody in the team listening to this, you can only be

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great at a few things. Three at best. So Dan talks about it as your circle of excellence

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or your circle of competence. And he says stay in your circle. What is your circle of competence?

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And then shrink your circle to three things. Because the more stuff that's in that circle,

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the more competence dilution that you have. What does that mean? It means that you are not as

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effective as you think you are over a large broad thing. So that means you have to find stuff that

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is actually 2X to you and find team members who find that as a 10X. Maybe accounting isn't your

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thing but you can do it. But now you're finding someone that's their 10X. That's the thing. That's

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in their circle of competence. That circle, those three things, it fits for them but not for you.

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And then your job is eliminate everything else. And this sounds like a great talk until you

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actually start to do this. So here's you know 10X is inspiring, 10X is full of purpose, 2X is just

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stuff. So how do we delete stuff? So finding your 10X, here are a couple of key questions.

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Ask yourself what would permanently fascinate and motivate you? Permanently. Not once or twice or

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you're intrigued. Not being intrigued a bit but what would captivate you? What would permanently

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fascinate and motivate you? Several of you might be in a transition as a business. This is a great

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question not just to ask as the main leader but everyone in the organization. And here's what it is.

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Because there's more to life than simply making money, getting stuff done. And the reason is that

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10x engages your heart and your mind. 2x generally engages your mind. And your heart's very good at

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making space for your mind. It's where your creativity is, it's where your strategy is,

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where your imagination is, where you're thinking at a higher level, at a higher order. So let's

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talk about a couple of practical things quickly and land the plane here. So here are some practical

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things that I've learned that have really, really helped me. And so you'd have to decide

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this competence thing. What is your fight? Think of it as a fight, right? You're bringing some

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contribution to the world. Let's call that your fight or your focus if you like, if you don't

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like the aggressive nature of the word fight. But it's helpful to me to think about a fight because

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having spent time in the military, you can't fight wars on every single front.

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You would just lose. So you have to decide, where is my fight? And then as a leader,

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you have to craft a positive, hopeful narrative about that fight in that area,

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in your area of excellence. So whatever it is you're doing, whatever your business is,

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you're projecting into your industry, to your customers, to your clients, to your team,

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a positive, hopeful narrative full of future possibilities. It can't be we just fix problems.

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We fix this issue. It has to be something, a narrative of hope. And so the second thing is,

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as an individual, you need to decide what does 10x mean? You know, what does the word x mean? What

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are you 10x-ing? It could be as simple as you want to 10x your confidence. You know, you want to

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10x the number of customers you're reaching. You want to 10x your revenue or 10x your time.

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You know, Dan tells a story of a guy who heard all this training, an executive, and he decided,

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well, he wanted to 10x his time. So he said, all right, well, that instead of taking, you know,

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I want to have the same revenue but for two months in a year. I want to make exactly the

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same money, but I want to 10x my time. Now I want to do it in two months. Now, theoretically, it's

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not quite 10x. I get the math. But the concept is clear. It took him a couple of years because,

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again, it doesn't actually have to happen in a 12-month period. But when he hit that 10x,

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then, you know, they asked him, what do you want to do now? He says, now I want to do it in three

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days. So he's making the same money he was in three days because, for him, 10x meant not just

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his time but to be able to spend time traveling, be with his family, and do the things that he

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loves. You know, and so if you've got a nonprofit passion or something else, that would free up your

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time to go and do that idea. You know, over the years, as we've worked with leaders, there are a

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couple of things that I have found. They're so simple, and I'm not sure why they're not the most

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obvious things. And the first one is, if you're going to focus on one thing, you need to put

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aside all other fights. You know, Marcus Aurelius once said, exercise your right not to have an

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opinion on things you don't control. And I love that because what that is saying is, we all want

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opinions about politics and about this and what's going on there and social issues and this issue

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and that issue, and that drains energy. It's just stuff. Now, if that's your fight, if that is really

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your fight, if you're focused on that, then go and do that. But honestly, jumping on spending hours on

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social media and spending time, it's just stuff. Look, your 9 to 5 job is not what's holding you

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back. It's all the wasted social media, focusing on fights, trying to develop an opinion. Well, I just

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want to stay informed. You know, I had to come to that conclusion. I just want to be a news junkie.

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I want to stay informed. It's not a reason to keep 2x activities alive. And that's about as practical

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as I can be for a leader. Get rid of the stuff. Well, how do you know it's stuff? Well, it drains energy.

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Someone else can do it better. Maybe even relationships that are going nowhere.

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So, here's a quick exercise for you. Why don't you write down 3 stuff things that you need to

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shed? What 3 things could you shed straight away? These are things that drain energy,

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someone else can do them better, and relationships that are going nowhere. So, activities that you

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shouldn't be involved in. Now, here's an interesting exercise. You could do the opposite.

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What activates or creates energy in you when you do that thing?

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We've talked in previous trainings about this,

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that when you do the thing,

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you come alive because you're energized.

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You have more energy after the event than before you started.

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So what creates movement for you?

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What makes you feel you're making progress in your life?

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What do you find inspiring?

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So in an interesting exercise,

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my wife, Bridget, and I sat down

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and we did this exercise together.

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Now, we've all done previous training about the hats.

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You remember about switching hats?

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Right, so we both took off our husband-wife hats,

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respectively, and we put on our coach hat.

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And so in that hat, remember that that means

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we're not related, we're not married,

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we're not in business together, we're just being the coach.

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And then, you know, Bridget shared with me

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all the 2X stuff that in the next 90 days I need to shed.

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And what I need to, one thing I need to 10X.

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So we picked three things, you know,

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bits of stuff that we had to get rid of.

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And the rule was, you weren't allowed to respond

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or argue or defend yourself or anything.

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You were just allowed to take notes.

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And then we switched roles.

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And what was really interesting about this

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is this idea of shedding works best

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if you do it in a 90-day cycle.

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In other words, every 90 days, shed three things.

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Every 90 days, shed three things.

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So guess what's gonna happen?

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A year from now, you're gonna have 12 things

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that are out of your life, 12 bits of stuff you don't need.

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And you would have improved four 10X elements in your life.

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So I wanna make some just real practical things

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you may consider shedding.

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Negative narratives.

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Just stop agreeing with negativity.

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Negativity doesn't build anything.

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It takes absolutely no talent whatsoever

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to be negative about something.

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To find the problem is not a talent, you know, at all.

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Coming up with a possibility to fix the problem,

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now that takes talent.

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Judgments of other businesses or competitors.

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And I love the story of, you know,

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Apple, when Apple had their, launched their iPod,

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Microsoft had also introduced Zune.

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And I remember one late night comedian saying,

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you know, he was talking about Apple

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just sold a million iPods.

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And in other news, somebody bought a Zune.

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You know, so when you think about that,

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it was hilarious at the time.

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And, you know, I just think that when we,

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here's the interesting thing.

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Apple did not care that their iPod

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had far less features than Zune.

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Zune was a superior product at one point.

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And it was very obvious because they weren't looking at that.

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They weren't making judgments.

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They weren't playing the game against Microsoft.

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Apple was playing a game against themselves.

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Have you ever listened to their product announcements?

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This is the best iPhone we've ever had.

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Maybe a terrible iPhone,

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but it's the best one they've ever had.

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In other words, what are they doing?

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Is they're using themselves as the reference.

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Can we be better?

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Can we do it better?

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They are themselves.

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They're not like, oh, we're gonna be number one.

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We're gonna do, there is no, in this structure,

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it's about you stepping in and 10Xing yourself.

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You know, I really caution again,

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unhealthy political engagement.

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Unless again, that's your, you feel that's your thing.

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Sure, be informed, make your decisions,

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vote, do your civil duty, and then focus on your fight.

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Focus on your thing.

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And, you know, excessive media consumption,

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just drop the news junkie thing.

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I've seen so many people, so I don't have time for that.

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But when you look at their day,

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they're spending eight to 10 hours a week on nothing.

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And so I wanted to share that with you

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and, you know, go through the basic thing.

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You can do 10X because 10X frees your present

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to think about your future.

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And I hope you found this inspiring as I did.

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Thanks.
