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Grant Cardone is a legend in the world of business, property and sales. He has built an empire and a personal brand that is known around the globe. While not everything he does can be applied to every business, many general lessons can. No matter what industry you are in, there are things you can learn from him and implement in your own business.
Grant has mastered many business skills often forgotten by people starting in the business world. As a multimillionaire property investor, I have learned much from Cardone, both from his public work and from speaking to him one-on-one. In this article, I will give you three business lessons from Grant Cardone that will transform your business.
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1. Invest in yourself
Grant Cardone is a big proponent of investing in yourself. If you want to grow in the professional, business or real estate world, you need to learn from people who have done it themselves. This doesn’t mean learning from a professor who has never started their own company before or a real estate influencer who has only just bought his first property. This does mean finding experts in your field and paying for their training and mentorship.
When starting, you can read their books, watch their free content and attend their free events. But at some point, you will need to graduate by attending their paid training. If you don’t pay to learn from other people’s mistakes, you will pay with your own. The latter is much more costly in the long run.
I have not only interviewed Cardone for my YouTube channel, but I have also paid him for one-to-one coaching. Sitting down with such a great business mind was worth paying for. When you are a multimillionaire, even advice that changes your behavior in a small way can make you and your business a lot of money. What Cardone said to me had a significant impact on my mindset.
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2. Get your advice from the right people
Choosing who to take advice from is about where they are in business and where you are. Someone might be rich, but it doesn’t necessarily mean that they have the correct advice for you and where you are. When I spoke to Cardone, I talked to him about a wealthy guy who had told me to save money and not invest it back into growth. Cardone asked if this guy was nearing retirement, and I said yes. Cardone told me that was good advice for someone looking to retire, but I was still in the growth stage. The advice wasn’t good for me.
When you are growing your business, you need to find people that can help you grow aggressively. When you are looking to retire, you want someone that can help you protect what you have made and preserve assets for the next generation. Know where you are and know where the people whose advice you are taking are at. Pick advisors that are where you want to be and who can push you to get there.
If you find the right people for your exact stage and vision, they can help you get where you want to go. Pick people with the results you want and listen closely to their advice on how to get there. If you don’t try to reinvent the wheel and do put in the hard work, you can replicate their success.
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3. 10x your goals
Cardone’s well known for his 10x brand, but people often don’t think very hard about what that actually means. Growing your goals requires delayed gratification. You will need to be willing to forgo short-term profits for long-term growth. You will need to be ready to spend enough to grow rather than focusing on your immediate return on investment.
Cardone runs a huge conference each year. When I spoke to him, he explained that he could make more money from running a much smaller event, but it was worth it for the PR it got his brand. This is the mindset you need to adopt to grow a business. Look beyond the next few weeks and start thinking about the next few decades.
Of course, this doesn’t mean you should keep doing things that lose money because you think they will pay off one day. This does mean not always choosing the most profitable course in the short term if it will stop you from growing in the long term. Think long-term and 10x whatever your goals are.
If you aim for a 10x, you are still much better off, even if you only end with a 5x. Dream big and put plans in place to get there. This is the only way to the top.
Related: How a ‘Low Time Preference’ Made Me a Multimillionaire
