“The environment doesn’t determine why some companies thrive in chaos and why others don’t. People do.”

Who luck (the luck of finding the right mentor, partner, teammate, leader, friend) is one of the most important types of luck.

The real difference between the 10X ...

10X winners always assume that conditions can change, violently and fast.

1. Extra oxygen canisters (big margins of safety in cash reserves)

2. Bounding risk

• Avoid “Death Line risk” that could kill or severely damage the enterprise...

Shows regularity of action; rejects pressure to conform in ways incompatible with values, performance standards, and long-term aspirations

• 20-Mile March: The first man to reach the South Pole, Norwegian Roald Amundsen, marched about 20 miles on calm days, and about 20 ...

Try to channel the ego and intensity into something larger and more enduring than yourself - focus on your cause, your company, your work; Choose goals by impact, contribution, and purpose if you want to attract others to help.

Best leaders (10X) do not predict the future

• They observe what worked and why that didn't and build their company around those foundations
• They are Not more risk-taking, bold, or visionary, more disciplined, empirical, and paranoid.
• They can able to scale innova...

1. Preparation keeps companies alive when the unknown creeps into our lives.
2. The businesses that will make it through tough times look at the facts and prepare with a worst-case scenario mindset.
3. 10X companies reach their goals year after year, despite w...

Create and use a SMaC recipe to execute your strategy: Specific, Methodical, and Consistent.

• Operating instructions - includes both Dos and Don'ts
• Be stoic about what you cannot control but exert extreme control when you can - be SMaC!
• ...

During times of uncertainty, look at the empirical evidence, not to other people; rely on direct observation and practical experimentation and build a deeper empirical foundation for decisions and actions.

• Fire bullets, then fire cannonballs: First wor...