Part 3: 10x Entrepreneurs And Their 10x Factors

Part 1 and Part 2 of this series is about getting yourself ready BEFORE you start a business. You learned about the first five 10x Factors that you must have to build a strong foundation as an entrepreneur and increase your chances of success in building your business.

In Part 3 (this issue) and Part 4 (next issue), you will learn about how to greatly increase your business’s chances of succeeding AFTER you have started it.

Let’s dive in.

The 10x Factors No. 6: Habits

1. Punctuality

For a 10x entrepreneur, punctuality about showing up on time which is respecting your own time and the time of others.

Time is one of your most valuable resources, and being late sends the message that you don’t value your and your colleagues’ time.

I’ve said that being punctual is the EASIEST thing you can do that also has some impact on your staff — and you don’t have to do much more than just being on time.

And when you set the standard for punctuality, it trickles down to everyone else — especially when you make it known that you expect everyone to be punctual (hence you have to be punctual yourself).

This sets the tone that you mean business, you don’t tolerate time wasters, and you want to get things done as quickly as you can.

2. Organised

Organisation is about building systems that allow your business to scale without chaos.

Look at Jeff Bezos. He built Amazon from an online bookstore into a global giant by mastering organisation, not just in his daily work but in the company’s entire operation. Amazon’s supply chain is one of the most organised systems in the world.

That didn’t happen by accident. It’s the result of constantly refining processes and keeping the business in order, so everything runs smoothly without bottlenecks.

In your case, one way of being organised could be to streamline your email communication. Instead of letting your inbox control your day, you block off time to handle all emails at once.

You prioritise important messages and use automation tools to filter out the noise.

You create processes for everything: how to onboard new clients, how to delegate tasks to your team, how to manage cash flow.

Every aspect of your business should have a clear, documented system.

When you’re organised, you free up mental space to focus on growing your business instead of scrambling to put out fires.

You can delegate more effectively because your team has the clarity they need to operate independently.

3. Plans Ahead

If you’re not planning ahead, you’re reacting.

A 10x entrepreneur is mainly proactive, not reactive.

You don’t just plan for today or this week. You’re thinking six months, a year, or even five years down the road.

This forward-thinking approach allows you to anticipate challenges before they occur and prepare solutions in advance.

Planning ahead involve creating long-term strategies, having contingency plans, knowing your market trends, and understanding how to pivot when things don’t go as expected.

You’ve got a roadmap for success, but you’re flexible enough to adjust course when necessary.

4. Constantly Learning

One of the biggest differences between a 10x entrepreneur and others is the constant pursuit of learning.

The world is changing fast, and if you’re not keeping up, you’re falling behind.

Consider Warren Buffett, who spends 80% of his day reading. He credits much of his success to his constant learning habit.

He’s always updating his knowledge on markets, companies, and industries, which helps him make better decisions.

For a 10x entrepreneur, this habit could be as simple as dedicating an hour a day to reading books on leadership, technology, or industry trends.

Or it could be taking a more active approach by attending conferences, hiring coaches, and joining masterminds.

You know that there’s always someone who knows more than you, and you’re not too proud to seek out their knowledge.

Let’s say you’re launching a new product.

Instead of relying solely on your experience, you dive deep into market research.

You learn about customer pain points, the competition’s weaknesses, and the latest tools to improve your product.

You take courses on digital marketing to better promote your product. You invest time and money into acquiring new skills that give you a competitive edge.

In practice, you might regularly read books to understand how successful entrepreneurs think, or to learn about innovative ways to create new markets.

You surround yourself with smarter people —mentors, advisors, and thought leaders —so you’re always growing.

The more you learn, the more prepared you are for the unknowns that come with being an entrepreneur.

It’s this constant learning that allows you to innovate and pivot when necessary.

The 10x Factor No.7: Visionary

1. Knows Exactly Where His Company Needs to Go

A 10x entrepreneur dreams all day long, everyday about what his company could be and exactly where it needs to go from where it is currently.

This is about having a clear vision of the future, not in vague terms, but in specific outcomes.

Again, think of Jeff Bezos in Amazon’s early days. He didn’t just want to build an online bookstore — he saw Amazon becoming “the everything store” long before it was a reality.

This kind of foresight allowed him to make strategic decisions years in advance, keeping his company on track even when the market shifted.

For a 10x entrepreneur, this means being able to visualise the exact milestones your business needs to hit in 1, 5, or even 10 years later.

You’re focused on immediate goals like increasing revenue or hiring new staff, AND have a clear, long-term picture of the impact your company will make on the market, the industry, and even the world.

Let’s say you’re running a tech startup. Your immediate goal might be to develop a product and launch it successfully.

But a 10x entrepreneur is already thinking about how this product will evolve over time.

You know that in five years, you want to dominate a specific niche market, and in ten years, you plan to expand globally.

Every decision you make today is based on that vision.

You’re not easily swayed by short-term trends because you know exactly where your company is headed.

This includes incorporating new advancements like AI (Artificial Intelligence) into your business where appropriate.

Or even pivoting to another business or business model when the signs are clear that this is required.

2. Knows Exactly What to Do to Get His Company There

Having a vision is one thing. Knowing how to get there is what separates the 10x entrepreneur from the rest.

A visionary entrepreneur is practical, not just idealistic.

Like him or hate him, Elon Musk didn’t just say he wanted to revolutionise space travel. He knew the steps to take, from building reusable rockets to securing government contracts.

He broke down his ambitious goals into achievable milestones.

As a 10x entrepreneur, you understand that achieving your vision requires a clear, actionable roadmap.

You’re not just throwing ideas at the wall and hoping one sticks.

You know which technologies to invest in, which markets to enter, and which people to hire.

You have a solid understanding of the resources, skills, and partnerships needed to turn your vision into reality.

For example, if your goal is to become the leading provider of AI-driven software in your industry, you know that you’ll need to invest heavily in R&D, hire top engineers, and secure partnerships with major tech companies.

You don’t just make general plans. You set specific actions that will move the needle. You create quarterly and yearly goals, and you constantly monitor progress to make sure your company is on the right path.

3. Sets Company Values and Adheres to Them

A visionary entrepreneur leads his company and builds a good culture within it.

Setting clear company values and ACTING in line with those company values are the critical parts of creating a lasting organisation, and more importantly, adhering to those values is what keeps the business on track during difficult times.

Steve Jobs set Apple’s values around innovation, design, and simplicity.

Even today, those values drive every decision Apple makes, from product development to marketing.

There are many companies whose behaviours don’t match their company values they so proudly pin on their office’s walls.

This is not only confusing to their staff, but it also sends the message that their companies are hypocrites and that it’s ok to be one.

So if one of your company values is customer satisfaction, you don’t cut corners on product quality to save costs.

You make sure every member of your team understands the values and lives by them, even when it’s hard.

Imagine you’re running a business where one of the core values is transparency. Even when a project is delayed, or a product doesn’t meet expectations, you’re upfront with your customers and team.

You know that adhering to this value builds trust in the long term, even if it’s uncomfortable in the short term.

As a result, your customers stay loyal, and your team respects your leadership because they know you practice what you preach.

By setting strong company values and adhering to them consistently, you create a solid foundation that supports your vision and enables your company to grow sustainably.

The 10x Factor No.8: Performance

1. Financially Disciplined

Financial discipline means understanding that every dollar in your business has a purpose.

You will want to make smart decisions with your resources, avoid unnecessary expenses, and focus on investments that lead to growth.

Warren Buffett has always been known for his financial discipline.

He didn’t build his empire by splurging on luxuries, but by making careful, calculated investments that yielded long-term gains.

As a 10x entrepreneur, you budget carefully and constantly check on your cash flow. 

You stick to a budget that reflects your goals, and you always know where your cash flow stands.

Financial discipline also means being prepared for the unexpected.

Slowdowns, sudden expenses, or shifts in the market WILL happen. By setting aside reserves, you make sure that when tough times come, you can deal with them without panic.

It’s also about understanding opportunity costs. When you spend on one thing, you’re giving up the chance to invest in something else.

This applies to everything, whether it’s hiring, marketing, or buying new equipment.

Every decision must be weighed carefully.

Being financially disciplined is about knowing when to invest aggressively. You don’t hold back from opportunities that offer high returns.

You just make sure they’re worth it.

In short, financial discipline means control and focus. It means making your money work for your business, not the other way around.

2. Good Promoter

If you’re a founder of your company, you should be promoting your business every chance you get, if you genuinely believe in what you’re offering and you want to communicate that belief effectively to others (whether they’re your prospects or not).

Look at Richard Branson, who turned Virgin into a global brand not just because of his business sense, but because he is an excellent promoter.

He believes in his ventures and knows how to make others believe too.

As a 10x entrepreneur, you need to be the biggest advocate for your company.

You promote your products or services confidently because you know the value they bring.

This could mean pitching to investors, selling to customers, or inspiring your team to believe in the company’s mission.

You don’t just talk about what you do, you say why it matters to them.

When Steve Jobs launched new Apple products, you could feel his excitement about them changing our lives because he truly believed they would.

Every interview or presentation he ever gave would give off this belief which also made us believe in him too.

And of course, Apple products must also deliver on what he believed in. Since they did change our lives significantly, it made further Steve Jobs presentations even more exciting and more believable.

In your own business, being a good promoter could mean refining your elevator pitch, creating compelling marketing messages, building a strong brand presence, and more — but more importantly, making sure your products or services deliver on their promises or exceed them so that your promotions can get you even better results.

3. Good Implementer

Ideas are great, but they mean nothing without execution.

A 10x entrepreneur doesn’t just dream. He makes things happen.

Being a good implementer means knowing how to take action quickly and efficiently. You set clear goals, create a plan, and ensure that the plan is executed.

You don’t get bogged down in analysis paralysis or wait for the perfect moment to act. You understand that momentum is crucial, so you break your big vision into smaller, actionable steps and keep moving forward.

A good example is Reed Hastings, the co-founder of Netflix.

When the idea for streaming movies and shows came up, Hastings took quick action, transitioning Netflix from a DVD rental company to a streaming service when the technology was still in its infancy.

He set clear goals, created a plan, and reorganised his team to focus on streaming, all while making sure Netflix’s DVD rental business remained operational.

His ability to implement this shift efficiently, while staying ahead of competitors, turned Netflix into the industry leader it is today.

4. Good Problem Solver

Challenges are inevitable in business.

What sets a 10x entrepreneur apart is their ability to face these challenges head-on and find solutions quickly.

Elon Musk is known for his problem-solving skills.

Whether it’s overcoming engineering challenges at SpaceX or production issues at Tesla, he digs in, analyses the issues, and finds a way forward.

As a 10x entrepreneur, you don’t panic when things go wrong.

You approach problems methodically, breaking them down into smaller parts and identifying the root cause.

You think creatively and explore multiple solutions before choosing the best one. You understand that every problem is an opportunity to learn and improve your business.

For example, let’s say your company faces a sudden drop in sales. Instead of blaming the market, you analyse customer feedback, check your marketing campaigns, and review your sales process.

Maybe the issue is outdated messaging, or perhaps there’s a customer service gap. Whatever the problem, you patch it up AND address the underlying issue to prevent it from happening again.

5. Resourceful

A 10x entrepreneur is always resourceful.

You know that business success doesn’t come from having unlimited resources, it comes from making the most of what you have.

Sara Blakely started Spanx with just $5,000 and turned it into a billion-dollar empire.

She didn’t have the big budgets of her competitors, but she was resourceful enough to make her business stand out in a crowded market.

Being resourceful means finding ways to get things done even when resources are limited. You’re not waiting for perfect conditions.

You use what you have — whether it’s time, money, or people — and you make it work.

If you need a new hire but can’t afford a full-time employee, you find a freelancer or outsource the task.

If your marketing budget is tight, you find low-cost ways to promote your business through social media or partnerships.

A good example of resourcefulness is leveraging technology. 

Instead of hiring a big team for customer support, you might use chatbots and automation tools to handle queries efficiently.

Or, when launching a new product, you use crowdfunding to raise the necessary capital without taking on debt.

Resourcefulness is about being creative, flexible, and never using a lack of resources as an excuse for inaction.

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And that’s a wrap for this issue.

In my next issue, we’ll go dive into the final two 10x Factors of 10x Entrepreneurs. They’re equally, if not more important, so watch out for it.

Cheers!

P.S. Forward this to the people you care about — whether they’re thinking of starting a business, or they have already started one.