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Cardone described success as infinite and inexhaustible
and said there will always be plenty to go around, but many
people fail to understand that principle. "Unfortunately,
most people look at success as though it is somehow a
scarcity," he wrote. "They tend to think that if someone is
successful, it will somehow inhibit their ability to succeed."
In his February 2012 TED Talk, Peter H. Diamandis proposed
that scarcity is contextual because most resources are
abundant, just slightly out of reach. Diamandis and Steven
Kotler's book Abundance: The Future Is Better Than You Think
The very point of sale described how advanced technologies improve access to
critical resources. They used the example of an orange tree:
"If I pluck all the oranges from the lower branches, I am
Great idea, but effectively out of accessible fruit," they wrote. "But once
someone invents a piece of technology called a ladder, I've
can it scale? suddenly got new reach. Problem solved."
Disrupt or be disrupted
By Dale S. Laszig In his book Only the Paranoid Survive: How to Exploit the
DLS Direct LLC Crisis Points that Challenge Every Company, Andy Grove,
former Chief Executive Officer at Intel Corp. used the term
calability is a hot topic in today's business com- "10X Force" to describe how disruptive technologies can
munity. Entrepreneurs must demonstrate to suddenly change everything. Much of the change happens
prospective investors that their startup busi- quietly in the background until suddenly it explodes with
S nesses can go very wide very fast. Modern day the force of a tsunami.
gladiators who bring their business plans to television real-
ity shows like The Profit and Shark Tank will be kicked to "In the face of such '10X' forces, you can lose control of your
the curb if they haven't done their homework. Applicants destiny," he wrote. "Things happen to your business that
with inflated valuations or unrealistic return on investment didn't before; your business no longer responds to your
models may hear Kevin O'Leary say, "You're dead to me." actions as it used to." Grove suggested that such disruptions
can have a profound impact on an industry's entire value
Most merchant level salespeople (MLSs) associate the chain.
word "multiple" with portfolio acquisitions, in which a
collection of merchant accounts is sold for many times its Clearly, it's better to be the disruptor than the disrupted.
book value. Selling a book of business may be the ultimate Deborah Baxley, Principal at Capgemini, a multinational
goal for many MLSs, but there are other, more immediate management consulting corporation, applied Grove's 10X
ways to scale a business, create new revenue streams and factor to payments, noting that emerging payment schemes
accelerate growth. This article explores the mathematics of must be at least 10 times better than consumers' current
scaling and specific strategies that MLSs can use to achieve experience to achieve mass adoption.
extreme success.
"Merchants can achieve the 10X factor using three common
Focus on abundance denominators for success," Baxley said. "Think of them as
the Three E's: ease checkout, eliminate friction and enable
Grant Cardone, author of The 10X Rule: The Only Difference marketplace." She went on to say that in-app payments
Between Success and Failure observed that successful people ease checkout by eliminating the need to wait for a server
are 10 times as focused as average people on achieving to bring a check, take away a credit card and return with
goals. "It takes the same amount of energy to have a great a printed receipt. Line busting with roving salespeople
marriage as it does an average one, just as it takes the same eliminates friction. Creating trust in marketplaces through
amount of energy to make $10 million as it does $10,000," features like ratings and reputations can drive entirely new
he wrote. types of commerce.
Cardone believes the difference between successful and Balance high-tech with high-touch
average people can be measured by their level of focus and
precision. Successful people are adept at "setting the right Excel Capital Management Inc., established in 2013 and
targets, estimating the mandatory effort, and operating at based in New York City's financial district, has been
the right level of action," he wrote. He noted that average steadily growing its channel partner network and digital
performers typically set goals too low and subsequently footprint. Excel President Nathan Abadi and Managing
fail to achieve their objectives. Partner Chad Otar reflected on the company's evolution
26
Cardone described success as infinite and inexhaustible
and said there will always be plenty to go around, but many
people fail to understand that principle. "Unfortunately,
most people look at success as though it is somehow a
scarcity," he wrote. "They tend to think that if someone is
successful, it will somehow inhibit their ability to succeed."
In his February 2012 TED Talk, Peter H. Diamandis proposed
that scarcity is contextual because most resources are
abundant, just slightly out of reach. Diamandis and Steven
Kotler's book Abundance: The Future Is Better Than You Think
The very point of sale described how advanced technologies improve access to
critical resources. They used the example of an orange tree:
"If I pluck all the oranges from the lower branches, I am
Great idea, but effectively out of accessible fruit," they wrote. "But once
someone invents a piece of technology called a ladder, I've
can it scale? suddenly got new reach. Problem solved."
Disrupt or be disrupted
By Dale S. Laszig In his book Only the Paranoid Survive: How to Exploit the
DLS Direct LLC Crisis Points that Challenge Every Company, Andy Grove,
former Chief Executive Officer at Intel Corp. used the term
calability is a hot topic in today's business com- "10X Force" to describe how disruptive technologies can
munity. Entrepreneurs must demonstrate to suddenly change everything. Much of the change happens
prospective investors that their startup busi- quietly in the background until suddenly it explodes with
S nesses can go very wide very fast. Modern day the force of a tsunami.
gladiators who bring their business plans to television real-
ity shows like The Profit and Shark Tank will be kicked to "In the face of such '10X' forces, you can lose control of your
the curb if they haven't done their homework. Applicants destiny," he wrote. "Things happen to your business that
with inflated valuations or unrealistic return on investment didn't before; your business no longer responds to your
models may hear Kevin O'Leary say, "You're dead to me." actions as it used to." Grove suggested that such disruptions
can have a profound impact on an industry's entire value
Most merchant level salespeople (MLSs) associate the chain.
word "multiple" with portfolio acquisitions, in which a
collection of merchant accounts is sold for many times its Clearly, it's better to be the disruptor than the disrupted.
book value. Selling a book of business may be the ultimate Deborah Baxley, Principal at Capgemini, a multinational
goal for many MLSs, but there are other, more immediate management consulting corporation, applied Grove's 10X
ways to scale a business, create new revenue streams and factor to payments, noting that emerging payment schemes
accelerate growth. This article explores the mathematics of must be at least 10 times better than consumers' current
scaling and specific strategies that MLSs can use to achieve experience to achieve mass adoption.
extreme success.
"Merchants can achieve the 10X factor using three common
Focus on abundance denominators for success," Baxley said. "Think of them as
the Three E's: ease checkout, eliminate friction and enable
Grant Cardone, author of The 10X Rule: The Only Difference marketplace." She went on to say that in-app payments
Between Success and Failure observed that successful people ease checkout by eliminating the need to wait for a server
are 10 times as focused as average people on achieving to bring a check, take away a credit card and return with
goals. "It takes the same amount of energy to have a great a printed receipt. Line busting with roving salespeople
marriage as it does an average one, just as it takes the same eliminates friction. Creating trust in marketplaces through
amount of energy to make $10 million as it does $10,000," features like ratings and reputations can drive entirely new
he wrote. types of commerce.
Cardone believes the difference between successful and Balance high-tech with high-touch
average people can be measured by their level of focus and
precision. Successful people are adept at "setting the right Excel Capital Management Inc., established in 2013 and
targets, estimating the mandatory effort, and operating at based in New York City's financial district, has been
the right level of action," he wrote. He noted that average steadily growing its channel partner network and digital
performers typically set goals too low and subsequently footprint. Excel President Nathan Abadi and Managing
fail to achieve their objectives. Partner Chad Otar reflected on the company's evolution
26
