How do we beat our competition? How do we create an organization that others cannot compete with? Peter Thiel, billionaire co-founder of PayPal and first outside investor in Facebook, has a very interesting perspective on these questions. In his best-selling business book “Zero to One” he outlines a very simple concept: the 10x Rule. The essence of this rule is that you need to build and maintain a business that is 10x better than your closest competitor. The outcome? You enjoy a monopoly with economies of scale and pricing power.
Achieving this might seem like the pinnacle of success for most business owners; but what does scripture say about a 10x advantage?
One of the best examples of having a 10x advantage is Joseph during the Egyptian famine. Genesis 41:48-49 says, “Joseph collected all the food produced in those seven years of abundance in Egypt and stored it in the cities. Joseph stored up huge quantities of grain, like the sand of the sea; it was so much that he stopped keeping records because it was beyond measure.” Fast forwarding to verse 56, “When the famine had spread over the whole country, Joseph opened all the storehouses and sold grain to the Egyptians, for the famine was severe throughout Egypt.”
Joseph had the ultimate 10x edge. He had something that no one else had (food) and yet, he opened all the store houses and sold grain to those in need. Unfortunately, what the text does not tell us is exactly how Joseph priced the grain. We are left to imagine how he handled this; but as the story continues, it paints Joseph as a benevolent, caring leader, not a money hungry authority looking to exploit those in this dire situation.
Proverbs 11:24-26 echoes this story with additional counsel:
“One person gives freely, yet gains even more; another withholds unduly, but comes to poverty. A generous person will prosper; whoever refreshes others will be refreshed. People curse the one who hoards grain, but they pray God’s blessing on the one who is willing to sell.”
Like Joseph modeled, working towards and obtaining a 10x advantage can be a beautiful part of God’s plan. When we do find ourselves with a 1x or 10x advantage, it’s a matter of honoring God with the position He placed us in. Isaiah 1:17 lays this out concisely, “Learn to do good; seek justice, correct oppression.”
Imagine if our perspectives changed from “My product is worth what someone is willing to pay for it,” to “How do I employ my advantage to glorify God and benefit others?”
As a leader in the business world, are your advantages self-serving or others focused? How might God want to use your advantage to bring glory to His name? We would love to hear your thoughts on 10x advantages in the comment section below.
Great article. This is how I try to live every area of my life. Still growing. I try to be other-centric in my relationships, albeit personal or business, but my selfish survival side always creeps in. In answering your question, I think by following this example we are actually mirroring Christ. He came to serve – not to be served and while doing so, His only focus was to do the will of the Father. This is difficult, but doable through Christ.
Great thought Tony…yes ONLY possible through Christ!