When a CEO is asked to grow a company 10x, what does that actually mean?

Hello,

I've been asking myself this for a while. When a new CEO / entreprenurs comes into a company or build on their own and is tasked with growing it 5x or 10x, what exactly does that mean?

Are we talking about revenue, profit, valuation, or what?

And how do they actually come up with a plan to achieve that? I mean, do they look at industry data, competitors revenue, target customers, market size, how much other companies in the same industry are making, etc?

For example, lets say a company is making $5M a year and the CEO is expected to grow it to $50M. How would they even start planning that? What kind of data do they use? Do they already know how many customers they need, how much they need to invest, or which markets to enter?

I'm curious because I always hear people saying things like "we're building a strategy to grow the business 10x" but nobody really explains what that plan looks like in practice.

Would love to see some real examples, spreadsheets, plans or even just hear how you guys approached it.