Alex Hormozi: Why PRETENDING to be RICH will make you POOR..

The video discusses why pretending to be rich will make you poor and why the concept of "fake it till you make it" is not a good idea for entrepreneurs.

This video by Alex Hormozi was published on Oct 13, 2021.
Video length: 08:21.

In this video, Alex Hormozi explains why he is against the concept of "fake it till you make it" and why pretending to be rich will make you poor.

He shares a personal story about how he shaved his beard and rocked a mustache to give himself a reason to not take himself too seriously before an event, and how one of his licensees questioned why he wasn't driving a fancy car. He emphasizes the importance of having conviction in what you sell and being honest with yourself, and how entrepreneurship is a journey of beliefs and personal development.

He also shares his personal values and how living in accordance with those values is more important than trying to impress others.

• Alex Hormozi is an entrepreneur, investor, and CEO of Acquisition.com.
• Pretending to be rich will make you poor and "fake it till you make it" is not a good idea for entrepreneurs.
• Entrepreneurship is a journey of beliefs and building character, and living within your means is important.
• Decide what your values are first and live your life in accordance with those values.
• Living within your means allows you to have the freedom to pursue your passions and dreams.

Why PRETENDING to be RICH will make you POOR.. - YouTube

Introduction

• Alex Hormozi is an entrepreneur, investor, and CEO of Acquisition.com.
• The video discusses why pretending to be rich will make you poor and why the concept of "fake it till you make it" is not a good idea for entrepreneurs.

A Personal Story

• Alex shares a personal story about a time when he was nervous about an event and shaved his beard into a mustache.
• One of his licensees saw his car and asked why he wasn't rich.
• Alex responded by saying that she should see his bank account, not his car.
• He believes in being transparent about his numbers and lifestyle.
• Entrepreneurship is a journey of beliefs and building character.

Why "Fake It Till You Make It" is Stupid

• You know that you're a fraud, and that kind of integrity is hard to recapture.
• The hardest person's respect to earn is your own.
• Entrepreneurship is a journey of beliefs and acquiring skills.
• Entrepreneurship is the single greatest personal development path you can go on.
• Decide what your values are first and live your life in accordance with those values.

Why PRETENDING to be RICH will make you POOR.. - YouTube

Living Within Your Means

• Alex and his wife were living on $1200 a month in rent and $400 a month in food while making $300-400k a month.
• He believes in living within your means and not wasting money on expensive things.
• Decide what your values are first and live your life in accordance with those values.
• Living within your means allows you to stand steadfast and strong in the face of adversity.
• Living within your means allows you to have the freedom to pursue your passions and dreams.

Why pretending to be rich will make you poor

• Outwork your self-doubt instead of pretending to be something you're not.
• Honesty is compelling and convincing for persuading people.
• Telling the truth about what you're good at and what you're not will win you more followers, fans, loyal customers, and employees.
• Pretending makes you disingenuous, and people can feel that you're not genuine.
• Buying things you can't afford to pretend to be wealthy is not a good idea.
• Let your actions be the thing that gives you fame rather than yourself.

The concept of "fake it till you make it" is not a good idea for entrepreneurs

• Faking it until you make it is a sure way to be broke.
• Many people who were faking it until they made it lost everything in the 2008 financial crisis.
• Anyone can become wealthy if they choose to live on less than they make.
• Wealth is a ratio, not a number.
• Build your own respect first by being honest with yourself.
• Maintain the integrity of telling the truth about your progress instead of always pretending to be doing well.

Watch the video on YouTube:
Why PRETENDING to be RICH will make you POOR.. - YouTube