Part 4: The 10x Factors Of A 10x Entrepreneur

In Part 3, you learned about the first three 10x Factors you need AFTER you have started a business, to have the highest chances of succeeding with your business.

In Part 4 (this issue) you’ll discover the next two 10x Factors to complete the framework.

Note that even if you have all the 10x Factors, it doesn’t mean you will certainly succeed with your business.

But the following is more probable:

If you don’t have them, you will almost certainly fail.

Let’s dive in.

10x Factor No.9: Leadership

1. Can Lead a Team

Leading a team as a 10x entrepreneur is about inspiring your team to perform at their best.

You will need to create an environment where they feel empowered and motivated to contribute.

Think of great leaders like Howard Schultz, who built Starbucks into a global brand by leading his team with passion, clear communication, and vision.

As a 10x entrepreneur, you understand that leadership is about influence.

It is not about authority.

You need to take the time to understand each team member’s strengths, delegate tasks accordingly, and provide the support they need to thrive.

You need to create a culture of accountability, ensuring that your team knows what’s expected of them while giving them the freedom to find creative solutions.

For example, you might lead a product development team by clearly outlining the goal but allowing them the autonomy to experiment and innovate.

You’re there to guide and support, but you trust your team to execute without micromanaging. When they succeed, you give them credit.

When they fail, you help them learn and move forward.

2. Can Lead a Team with a Partner

Leading a team with a partner is a different challenge.

It requires a balance of leadership styles and the ability to collaborate effectively.

You need to work together to set shared goals and a unified direction.

Take Steve Jobs and Steve Wozniak of Apple, for example.

Their partnership worked because they complemented each other’s strengths and trusted each other’s judgement in different areas.

As a 10x entrepreneur, leading with a partner means knowing when to step up and when to step back.

You will need to align your vision with your partner’s, ensuring that you both communicate openly and handle conflicts professionally.

You focus on your areas of expertise and allow your partner to take the lead in his.

By working in sync, you create a stronger team.

For instance, if you’re co-leading a marketing agency, one partner might be the creative visionary while the other handles operations and client relationships.

You make decisions together, respecting each other’s input, and presenting a united front to your team.

This balance makes the entire organisation run smoother, as the team sees consistency and strength in leadership.

This also depends on the business partner you are working with.

You need to select your partner(s) VERY CAREFULLY, one with a lot of value to bring to the table.

The worst partner you can have is someone who does minimal work and depends on you to do most of it.

He does not take any initiative, nor work on the business with the same commitment as you.

In the past, I have made huge mistakes in teaming up with partners who didn’t pull their weight.

One was completely incompetent in his area. He had either lied or overestimated his own competence.

Another was simply riding on my efforts.

That said, it’s not their fault.

Why?

Because I chose to work with them.

I should be more discerning, but I wasn’t for reasons I will reveal another day.

They were the biggest mistakes I had made (which is another post on another day).

But if you are working with a partner who provides immense value and is the right fit for your business, you will need to be able to work with him to lead your company.

If there is conflict in this area, your business won’t succeed for reasons that have nothing to do with how good your team or products are.

3. Hires People Smarter Than Him

The 10x entrepreneur understands that he’ll be able to achieve much more when he works with people who are smarter than him.

Jeff Bezos, for example, often said that Amazon’s success was due to hiring the best talent he could find.

He didn’t try to be the expert in every field.

Instead, he hired specialists who knew more than he did, and he gave them the freedom to excel.

Hiring people smarter than you is a sign of confidence and humility. 

You recognise that you don’t have all the answers, and you’re not threatened by others’ expertise.

Instead, you actively seek out talent that can elevate your business to another level.

This approach leads to better decisions, faster innovation, and stronger growth.

For example, if you’re running a tech startup, you hire engineers who are far more skilled in coding than you.

You hire a CFO who understands finance better than you do.

And you listen to them because you trust that they’re the experts in their respective fields.

By doing this, you build a team that’s capable of achieving more than you ever could alone.

4. Considers Dissenting Views

A 10x entrepreneur knows that surrounding himself with ‘yes-men’ is a recipe for disaster.

You need people on your team who are willing to challenge your ideas and present dissenting views.

Yet how many bosses do you know who do not tolerate dissenting opinions?

Ray Dalio, the founder of Bridgewater Associates, the largest hedge fund in the world, loves to hear dissenting views.

He built a culture of radical transparency where everyone is encouraged to question decisions and offer alternative perspectives.

Considering dissenting views simply means that you listen, reflect, and make better decisions because of it.

You welcome feedback, even when it’s uncomfortable.

You do this because you know it will help you avoid blind spots.

You don’t want to surround yourself with people who agree with you just to keep the peace.

Instead, you value those who can point out weaknesses in your strategy and suggest improvements.

For example, if you’re about to launch a new product and a team member raises concerns about its market fit, you don’t dismiss them.

You ask questions, explore their reasoning, and use the feedback to either adjust your approach or strengthen your conviction.

This ability to consider multiple viewpoints ensures that you’re making well-rounded decisions and not getting blindsided by your own biases.

There can be exceptions though — where you may have more experience in a certain area under discussion than your colleagues.

But you will still take their dissenting views into consideration so that you can be more certain of your stand.

5. Decisive

Decisiveness is one of the most critical traits of a 10x entrepreneur.

You need to be able to make tough decisions quickly, even when you don’t have all the information.

Indecision can paralyse a business, causing missed opportunities and stagnation.

Richard Branson is a good example of a decisive leader.

“Screw it, let’s do it” is his favourite phrase.

He said that taking action is better than waiting for perfect conditions.

As a 10x entrepreneur, you understand that making decisions quickly doesn’t mean you are being reckless.

You are simply gathering as much information as possible so that you can weigh the pros and cons before acting.

Once you’ve made a decision, you commit to it and follow through.

If new information comes to light that requires a change, you’re willing to pivot.

But you don’t let fear of making the wrong decision hold you back.

For example, if you’re considering expanding your business into a new market, you don’t spend months over-analysing.

You gather key insights, consult your team, and make a decision.

Whether it’s to move forward or hold back, you decide swiftly and see what happens.

If you’re right, you continue doing it.

If you’re wrong, you stop doing it.

It’s simple.

You need to act to KNOW if what you’re thinking of doing is the right thing to do.

And you want to know this AS SOON AS POSSIBLE.

Because if you’re wrong, a lengthy delay due to indecisiveness is still going to be wrong — but you have lost months of time that being decisive much earlier will save you.

If you’re right, you will be right much earlier and you will make more money.

Either way — you can’t lose.

10x Factor No.10: Leverage

1. Embraces Technology

A 10x entrepreneur understands the power of leverage that technology used the right way can provide.

He understands how technology can streamline processes, boost efficiency, and open up new opportunities for growth.

Elon Musk, CEO of Tesla and SpaceX, is a perfect example of how embracing cutting-edge technology can give you a competitive advantage.

Musk understood that automation, AI, and data-driven insights could revolutionise entire industries.

For a 10x entrepreneur, technology is a force multiplier.

You use it to do more with less, to scale faster, and to innovate ahead of the competition.

You can use technology to automate marketing campaigns, incorporate the use of AI to analyse customer data, or implement cloud-based systems to manage operations at a much cheaper cost, and more.

You understand that those who hesitate to embrace it will quickly fall behind.

For example, instead of hiring a large team to handle repetitive tasks, you automate processes with software tools like Zapier, Trello, or Slack.

You use AI tools to personalise marketing for thousands of customers simultaneously, something that would have taken a massive team and budget just a few years ago.

You track every piece of data in real-time with dashboards that give you insights into your sales, customer behaviour, and market trends, allowing you to make faster and smarter decisions.

You also fully embrace emerging technologies.

You’re not just relying on today’s tools but looking ahead to how blockchain, AI, machine learning, or new SaaS platforms can help your business gain an edge.

You integrate these technologies before they become mainstream, giving your company a head start.

Remember when we shifted to working remotely where we don’t have to go to a physical office to do fulfil our work obligations?

A 10x entrepreneur didn’t wait for the pandemic to introduce collaboration tools like Zoom, Asana, or Microsoft Teams.

They were already ahead, setting up virtual teams, using project management software to streamline work, and enabling a global workforce long before it became necessary.

As an example, I was already implementing remote working way back in 2008 and continuing until today (16 years later) for a business that once required office spaces but did even better without them.

I was using Skype and MSN Messenger (before ZOOM came onto the scene) to meet up with my teams around the world without ever having to physically meet them in person.

This enabled me to get things done quickly and at a fraction of the cost.

By embracing technology, you free up your time to focus on strategy, vision, and growth.

You reduce operational costs, eliminate inefficiencies, and open up new revenue streams.

A 10x entrepreneur knows that those who leverage technology to the fullest can do in days what would have taken others months.

2. Automates/Delegates Whenever Possible

A 10x entrepreneur knows that his time is the most valuable resource.

To scale effectively, he focuses on automating and delegating tasks that don’t require his direct involvement.

This approach frees up his time to concentrate on high-impact activities like strategy, growth, and innovation, rather than getting bogged down in day-to-day operations.

Jeff Bezos famously built Amazon around automation and delegation.

He fully automated warehouse operations as much as he could, or delegated customer service to outsourced teams rather than hiring his own.

Instead of handling repetitive tasks manually — such as sending follow-up emails or processing orders — a 10x entrepreneur uses software to automate these processes.

Tools like HubSpot and ActiveCampaign allow you to nurture customers, track leads, and close deals without needing human intervention.

By automating these tasks, you increase efficiency while reducing human error and freeing up your team for more strategic work.

Delegation is the other side of this coin.

A 10x entrepreneur builds a strong team, then trusts that team to execute.

You don’t micromanage.

Instead, you delegate with clarity and purpose.

You focus on what only you can do, like setting the vision or closing major deals.

You empower your team to handle everything else.

This could mean hiring a virtual assistant for administrative tasks or bringing in specialised freelancers to manage areas like marketing, design, or operations.

When you automate and delegate, you multiply your impact.

3. Uses/Creates Systems

A 10x entrepreneur knows that systems are the backbone of scalability.

Without systems in place, even the most promising businesses can collapse under the weight of their own growth.

Sam Walton, the founder of Walmart, built an empire not just by offering low prices, but by creating robust systems for inventory management, supply chain logistics, and store operations.

These systems allowed Walmart to scale quickly and efficiently, while maintaining consistency across thousands of stores.

Creating systems means establishing repeatable processes that ensure tasks are completed the same way every time, with the same level of quality.

For example, if you run an e-commerce business, you may create a system for customer service where all inquiries are handled within 24 hours through a structured support process.

You document every step, from the initial contact to the resolution, so that anyone on your team can follow it and get the same results.

You can use systems for operations, marketing, sales, finance, and even hiring.

You build a sales funnel that consistently attracts leads, nurtures them, and converts them into customers.

You have a financial system that tracks revenue, expenses, and cash flow with precision.

When it comes to hiring, you’ve got a recruitment process that ensures you find and onboard the right talent without wasting time.

Systems create consistency, save time, and eliminate guesswork.

They allow a 10x entrepreneur to scale rapidly without the business becoming chaotic or unmanageable.

When everything is systemised, you can focus on growth rather than constantly putting out fires.

4. Pursues Strategic Alliances

A 10x entrepreneur understands the power of partnerships and alliances to accelerate growth.

Instead of trying to do everything alone, you look for opportunities to collaborate with others who can complement your strengths and expand your reach.

Richard Branson, founder of the Virgin Group, built his empire largely through strategic partnerships.

By aligning with other companies, he was able to enter industries like airlines, music, and telecommunications without having to build everything from scratch.

Strategic alliances allow you to leverage other companies’ resources, expertise, and customer bases.

For instance, if you run a tech startup, partnering with an established company could give you access to their distribution network, while you provide them with innovative technology.

Or if you have a service business, forming alliances with complementary service providers can help you offer more comprehensive solutions to your clients.

The key is to pursue partnerships where both parties benefit.

For example, Tesla partnered with Panasonic to produce high-performance batteries for their electric cars.

Tesla gained access to world-class battery technology, while Panasonic benefited from Tesla’s expanding market in electric vehicles.

Both companies grew faster because they leveraged each other’s strengths.

Strategic alliances can also open doors to new markets. 

Let’s say you want to expand your product line internationally.

Instead of doing it all yourself, you might partner with a local distributor or manufacturer who already knows the market and has established channels.

This approach allows you to grow faster, with less risk, and access expertise you don’t have internally.

By pursuing strategic alliances, a 10x entrepreneur can scale faster, enter new markets, and achieve results that would be difficult to accomplish alone.

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These elements of leverage — embracing technology, automating/delegating, using systems, and forming strategic alliances — are what enable a 10x entrepreneur to operate on a much larger scale than others.

It’s about working smarter, not harder, and creating a business that can grow exponentially at the lowest risks, and without requiring a lot more time, effort and money.

Entrench all the 10x Factors into your entire being — and you will have a much, much better shot at succeeding with your business.

Cheers

P.S. Know of anyone who is starting or operating a business? Simply forward this issue to them to give them a much higher chance of succeeding.