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

Last updated: Jun 15, 2023

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

Alex Hormozi: Why PRETENDING to be RICH will make you POOR.. 001

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.
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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.
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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.
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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.
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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.
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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

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