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The Game with Alex Hormozi

Why You Should Stay Poor to Succeed | Ep 503

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 23 February 2023

⏱️ 24 minutes

🧾️ Download transcript

Summary

(This episode is a re-run. Original airdate was May 10, 2022)

Take advice from poor people on how to be rich! Today, Alex (@AlexHormozi) talks about the 28 ways to stay poor and how these ways can help drive more success for you.

Welcome to The Game Podcast where we talk about how to get more customers, make more profit per customer, and keep them longer, and the many failures and lessons we have learned along the way to $100M in sales. We've got roll-up-your-sleeves kind of hustle with a little bit of cleverness and a lot of heart.

Timestamps:

(0:58) - What is “Inversion Thinking” anyway?

(1:53) - Ways #1-9 - Start tomorrow, blame your circumstances…

(5:47) - Ways #10-18 - Tolerate mediocrity, prioritize looking rich over being rich…

(13:19) - Ways #19-28 - Repeat your mistakes, assume you are always right…

(22:02) - The power of inversion thinking when it comes to taking advice from poor people

Follow Alex Hormozi’s Socials:

LinkedIn | Instagram | Facebook | YouTube | Twitter | Acquisition

Transcript

Click on a timestamp to play from that location

0:00.0

Most of the nation real quick, if you are a business owner that has a big, old business and wants to get to a much bigger business,

0:06.1

going to $50, $100,000 plus we would love to talk to you.

0:09.5

And if you like that or would like to hear more about it, go to acquisition.com and you can plan anywhere on the page

0:14.3

and talk to one of our team and see if we can help you get there.

0:17.6

You have to prioritize being rich, which means spending less.

0:20.5

Because you were not valuing the opinion of other people over your own, which because you respect your own approval more than that of other people.

0:27.8

You have to be willing to die to the opinion of others rather than dying to the opinion of yourself.

0:32.8

Welcome to the game where we talk about how to get more customers, how to make more customers, how to keep them longer,

0:37.1

and the many failures and lessons we have learned along the way.

0:39.6

I hope you enjoy and subscribe.

0:42.5

I'm going to talk to you about the 28 ways to stay poor.

0:46.1

And the reason I'm framing it that way is because Charlie Munger, my personal hero, had a seminal talk

0:52.1

that he gave multiple times on how to live a miserable life.

0:55.9

And the reason he gives it that way is that he believes in a process called inversion thinking, which is where you solve problems in reverse.

1:02.5

So for example, if you want to have a good marriage, rather than asking the question, how do I have a good marriage,

1:07.1

you ask the question, how would it destroy my marriage?

1:09.6

And then you list out all the ways to destroy your marriage and then you do the exact opposite of that.

1:13.4

And what's interesting is that our brains are much better at finding problems than they are finding solutions.

1:17.8

And so what we do is we harness this innate ability that we have to find the problems and then after finding every possible problem we can imagine,

1:25.2

every threat imaginable, which evolutionarily we were designed to look for, then flip that in reverse to find our solutions.

1:31.6

All right.

1:32.1

And this is a process of thinking that I've applied to business.

...

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