What if you could achieve 10X growth while your competitors only achieve 10%?
That’s what a Moonshot is: going 10X bigger or better when everyone else is pursuing incremental change.
Most companies ask questions such as, “How do we reduce costs by 10%?” or “How can we increase profits by 10%?”
Having a Moonshot Mindset means applying 10X thinking (or 1,000%) to all your efforts and challenges.
It’s one of the critical mindsets enabled by exponential technologies that any exponential entrepreneur or leader needs to succeed in the decade ahead.
In this blog, I’m going to discuss what a Moonshot Mindset is and the benefits of having one.
Let’s dive in…
WHY SHOULD YOU AIM FOR 10X GROWTH INSTEAD OF 10%?
I’ll give you three reasons:
- As my friend Astro Teller, Alphabet’s “Captain of Moonshots” says, when you try to do 10% better, you’re putting yourself in direct competition with everyone else in your industry. And it’s a competition that you’re likely to lose.
- When you shoot for 10X improvement and try to do something radically hard, you approach the problem you’re solving in a completely different way.
- When you attack a problem (any problem) as though it were solvable, even if you don’t know how to solve it, you’ll be shocked at what you come up with.
In our world, change is the only constant, and the rate of change is increasing.
As a result, you either disrupt yourself, or someone else will.
6 BENEFITS OF A MOONSHOT MINDSET
- You understand “the day before something is a breakthrough, it’s a crazy idea.” With a Moonshot Mindset, you have permission to pursue your crazy ideas.
- You are willing to take the risks necessary to transform industries and society for the better. You recognize that those with a Moonshot Mindset are the innovators making the world a better place, moving humanity forward, and charting the future.
- You understand that a Moonshot within the realm of your Massively Transformative Purpose (MTP) can be the adventure of a lifetime, giving you joy and fulfillment, and providing you with purpose.
- You are willing to aim at billion-person challenges. You recognize that the world’s biggest problems are the world’s biggest business opportunities.
- You understand that Moonshots striving for a 10X improvement (or 1,000%) offer one-hundred-fold the benefit compared to 10% incremental improvement, but are rarely one-hundred-fold more difficult to achieve. A 10X improvement is 100 times more worth it, but it’s not 100 times harder.
- As a leader, you know that Moonshots focus and motivate your team, help you attract the best talent in the world, and allow you to solve interim problems while creating interim products and services along the way.
How much more could you achieve if you had a Moonshot Mindset?
What can you do in the next hour to make progress towards your 10X goal?
Contributor: Peter Diamandis, Founder, X Prize Foundation and Chairman of Singularity University and edited by and Cliff Locks, Investment Capital Growth, Managing Director and Executive Coach
Cliff Locks is a trusted mentor, confidant, and advisor to CEOs, C-Level Exec, and high-potential employees to help them clarify goals, unlock their potential, and create actionable strategic plans.
Available to join your Board as a Certified Master Professional Board of Director and Advisor.
I am a trusted mentor, confidant, and advisor available by Zoom and by phone to be your right-hand man, who will make a significant contribution and impact on your way to success.
As a Trusted Mentor, Confidant, and Advisor, I support you, along with your company’s strategic and annual operating plan. This plan may include marketing, sales, product development, supply chain, hiring policies, compensation, benefits, performance management, and succession planning.
Most successful leaders enjoy talking to someone about their experiences, which is why most develop a close relationship with a Trusted Confidant—a person with whom they feel free to share their thoughts, concerns, and ideas without fear of sharing too much or being judged by the people they lead, or their colleagues and superiors. I am a sounding board who will help you to better develop and see your ideas through to fruition.
The most effective Executive find confidants who complement their strengths and sharpen their effectiveness. Bill Gates uses Steve Ballmer in this way; Warren Buffett turns to vice chairman Charlie Munger. In the end, both the Executive and their organizations benefit from these relationships.
As your trusted confidant, I am always by your side, holding your deepest secrets and never judging. Everything discussed is held in complete confidence.
What many executives feel is missing from their busy life is a trusted business person who understands the holistic complexity of both their business and personal life.
I strive to provide solid financial, business, and family expertise and serve as a dispassionate sounding board, a role I like to call “Executive Confidant.”
By holding a safe place for the Executive to work on life path issues as well as direction, I repeatedly see remarkable benefits as personal values become integrated with wealth and family decisions, enhancing a more meaningful life.
As an Executive Confidant, I welcome a confidential conversation about the most important issues facing the business leader, including:
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When I do my job well, I facilitate positive action in both your professional and personal life. This consistently has a positive benefit on impacting people within the sphere of your influence.
The job of an Executive can be lonely. For various reasons, confiding in colleagues, company associates, family members, or friends presents complications. Powerful, successful, and wealthy individuals often isolate themselves as a protective reaction because of their inability to find people they can trust and confide in.
Successful people are often surrounded by many people, yet they insulate and isolate themselves to varying levels of degree. This isolation factor is not often discussed in the same context because the assumption is that success and wealth only solve problems. The false belief is that it does not create more problems, when, in fact, sometimes it creates a unique set of new challenges. Success and wealth do not insulate you from the same pitfalls that the everyday person faces. It may give you access to better solutions perhaps, and that is what I can help you achieve. Financial business success can create unique vulnerabilities, often overlooked as most people feel that the “problems” of the wealthy are not real-life problems.
The Executive Confidant can be particularly helpful when:
• Aligning life priorities with the responsibilities of wealth. • Wanting more meaning and purpose in life. • Desiring a candid and experienced perspective. • The answers often come from within, and we cannot arrive at them easily. • Clarity often comes into focus, with skilled questions and guided discovery. The right questions can be the first step in achieving ideal outcomes.
Who can you turn to when you need to find clarity? Who is your “Executive Confidant”?
Referrals to a team members or family members are always welcome.
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