How is 10x easier than 2x when scaling a business?
Join us in today’s episode as I sit down with our Director of Customer Success, Leyah Hostetter, and our client-turned-business coach for Systematize Your Construction Business (SYCB) program, Monish Khadye.
Today, we will dive deep into Dan Sullivan’s book 10x Is Easier Than 2x and how this could hack your construction business growth.
10x is Easier Than 2x
First things first, think about the mindset of why 10x is easier than 2x.
When you aim for 2x, you’re essentially thinking that you’ll have to work harder and work for longer hours to double what you have. Agree?
Sure, there’s some progress involved, but it’s like jogging when you could be flying on a jetpack!
On the other hand, going for 10x is thinking big, hairy, audacious goals. That means there are not enough hours in your day to make it happen, so hiring the right people and growing your team makes sense.
When it’s done well, you’re actually distributing that load to other people so your business can profit more while you work less.
In addition, when you 10x your business, the path becomes clearer, and you find yourself with only one or two pathways–it limits your options–unlike the thousands of other options to potentially get you to a 2x goal.
Implementing the 80/20 Rule
Having worked with hundreds of construction business owners for years, I’ve seen how they have grown their businesses to a certain extent by wearing several, if not all, hats.
They’re doing sales, estimating, running operations, finances, and everything else. And they struggle to let go of control because they’re afraid.
But here’s what stood out to me from the book that every business owner should realize.
“If you’re going for 2x growth, then you can keep or maintain 80% of your existing life or what you’re doing now. 2x is operating from the past, primarily continuing the path you’ve already been on. 2x is linear. 10x is the opposite of 2x. Going for 10x requires letting go of 80% of your current life and going all in on the crucial 20%.”
The gist of the 80/20 rule is this: roughly 80% of the results come from just 20% of the effort. Crazy, right?
Imagine you’re organizing a closet – you spend a ton of time folding clothes and tidying up, but in reality, you’re mostly using just a fraction of your own stuff. 20% of your clothes are likely worn 80% of the time.
The point is to focus on what truly matters and brings the most impact!
And this could mean saying no to the wrong clients and project types.
Are you giving away free estimates for a client? Let it go! Will you miss out on something by letting it go? No, you won’t.
Focus on your crucial 20%– let’s say by charging a premium and delivering value. And when you’re in the game, you can hire someone to replace what 80% you’ve been doing. And if it doesn’t work out, you can always figure it out.
Remember: Your ability to get to the next level is directly proportional to your ability to let go of things in the right way.
To know more about why 10x is easier than 2x and how to apply it to scale up your construction business, listen in or watch the full episode HERE.
Additional Resources:
– Join the FREE Get Paid for Estimates Masterclass HERE
– Hear our clients’ success stories HERE
– Book a FREE call with our team HERE
– Visit Construction Leading Edge for more HERE
Books Mentioned:
– 10x Is Easier Than 2x by Dan Sullivan with Dr. Benjamin Hardy
– The Obstacle Is The New Way by Ryan Holiday
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The Construction Leading Edge Podcast helps construction business owners maximize their revenue, eliminate chaos, systematize their work, and win back their time.
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