How To Stay Poor
I recently watched a bunch of podcasts with Alex Hormozi and I’m currently reading his book “$100M Offers” (highly recommend it for people who want to start an online business).
Alex is a multi-millionaire business owner and has a YouTube channel where he shares everything he knows to help people grow their businesses.
But he’s not like everyone else.
Usually, when I consume content from “business gurus” I just get overwhelmed but Alex has this weird ability to distill things to their simplest form.
That’s what I like the most.
His teaching has helped me change my mindset so many times and after consuming his content I started thinking about the world in a fundamentally different way.
Of course, as with everything that I consume I try to write down the main ideas in my Apple notes so that I can find them later when my monkey brain forgets everything.
So here are the coolest ideas, thoughts, and quotes I wrote down from Alex Hozmozi:
How to stay poor:
Start tomorrow
Read lots of books and then do nothing
Take advice from poor people on how to be rich
Pick a spouse who will make you feel guilty for working
Fail once, quit forever
Think that the world is fair
Blame your circumstances and complain about things you can’t control
Expect the government / other people to save you
Value the opinion of others over your own (“You are successful the moment you say you are”)
Avoid discomfort
Tolerate mediocrity
Make promises, break promises (this loses your respect for yourself)
Wait for perfect conditions
Prioritise looking rich instead of being rich
Avoid working on what matters most
Say you’re going to do something and then don’t do it
Do what everyone else is doing
Do your best, not what it takes (most times “your best” is not enough, you must become better and do what’s required to achieve the goal, don’t pat yourself on the back and say “Ahh I did my best”, because YOUR best is not enough, the marketplace, the world, universe requires more)
Talk more, do less
Start something new today, start something new tomorrow, repeat, leave half-built bridges
Believe what other people think about you more than what you think about you
Make a mistake, then wait, and repeat the mistake
Be replaceable
Find something that works and then stop doing it
Hire dumb people
Assume you’re always right (everyone knows something that you don’t know)
Spend more than you make
If you had to create a human, what would you do to him to make him patient? - You probably wouldn’t give him things that he wants immediately or make him have an easy life.
Each of the traits that you want to have has a price tag attached to it.
You can reframe the period of life that you’re going through as the price of time that you’re paying to achieve a certain trait that will serve you for the rest of your life.
This will give you comfort in hard times.
You can't solve a problem you're willing to have.
Ultra-successful people have 3 common traits:
Superiority complex - they think they’re better than everybody else, that they can do bigger things.
They have a huge insecurity of not being enough.
They have impulse control. In other words, they have a goal and they continuously strive for it without letting distractions steer them away.
Think about today as if you were 85 and then traveled to today with a time machine.
You’ll feel like “Oh my joints don’t have arthritis," “I live in this underdeveloped city whereas now there are flying cars and so much chaos everywhere”, and “I’m here with my future wife at the beginning of our friendship, it’s beautiful”.
With this frame of mind, you’ll start to think about life and business from a long-term perspective because when you’re 85 you don’t have anything to prove or lose.
It usually doesn’t matter in life how hard you row, it matters which boat you are in.
Think once before investing (either in skills or assets), and think twice before spending.
There’s no food that will make you never hungry, there’s no drink that will never make you thirsty, there’s no sex that will make you never want sex, there’s no amount of money that will make you want less money - that’s human nature.
Use the veteran’s mindset.
If this (bad event, or situation (for example: stuck in traffic, or having to present a thesis)) were to happen 10,000 times, how would you feel the 10,000th time?
Probably not that bad. So why don’t you just choose to feel that way now?
Not knowing how to make $1M/year is costing you $1M/year - the ignorance tax.
I hope you liked my collection of Alex Hormozi quotes and I’d love to know what’s YOUR favorite piece of life advice.
Thanks for reading 👋.
I understand where this mindset is coming from and I completely respect it. But it makes me cringe so hard.
Associating money with success and considering it an achievement while knowing that how rich you'll become on average is purely do to how rich and educated your parents were is something that I wish I wouldn't read anymore.
I feel like we need more love and happiness in this world and becoming "rich" (meaning making more than what you need for health, food and housing) will bring you neither.
I do agree, as written, that people with this drive have deep insecurities, but this clearly shouldn't be addressed with more money in my opinion. Love and acceptance can only truly come from within.
Good insights!