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How They Keep You POOR! (Watch This To Become A MILLIONAIRE In 2023) | Alex Hormozi

Lewis Howes

3.8M Views . 2022-10-03

🔔 Subscribe for more great content: https://www.youtube.com/lewishowes ▶️ Recommended for you: https://youtu.be/rPV7Sn-POlM https://lewishowes.com/gmyo - Get my NEW book The Greatness Mindset today! Buy Alex's book - https://www.amazon.com/100M-Offers-People-Stupid-Saying-ebook/dp/B099QVG1H8 Alex Hormozi is a first generation Iranian-American entrepreneur, investor, and philanthropist. In 2013, he started his first brick & mortar business. Within three years, he successfully scaled his business to six locations. He then sold his locations to transition to the turnaround business. From there he spent two years turning 32+ brick & mortar businesses around using the same model that made his privately owned locations successful. After that experience, he packaged his process into a licensing model which scaled to over 4000+ locations in 4 years. Over that same four year period, he founded and scaled three other companies to $120M+ in cumulative sales across four different industries (software, service, e-commerce, and brick & mortar) without taking on outside capital. He has scaled and exited 7 companies. His most notable exit was his majority sale of his licensing company for $46.2M in 2021. And now, let’s jump right into Episode 1,324 of The School of Greatness with the one-and-only, Alex Hormozi! You can follow me at: Website: http://lewishowes.com/ Facebook: https://www.facebook.com/lewishowes/ Twitter: https://twitter.com/LewisHowes Instagram: https://www.instagram.com/lewishowes/ Tiktok: https://www.tiktok.com/@lewis Linkedin: https://www.linkedin.com/in/lewishowes/

The speaker argues that poverty is often caused by a 'broke mindset' where people are trapped in a cycle of low-leverage activities and a lack of focus on increasing output per unit time. This leads to a lack of financial resources, and ultimately, perpetuates poverty.

Broke Mindset
Poverty
Time Management
Leverage

  • People who are poor often struggle with a "broke mindset" which makes them perceive wealth as unattainable.
  • This mindset is reinforced by societal factors and a lack of financial resources, leading to people investing time and money in low-leverage activities that don't yield significant returns.

Insights from the YouTube Video Critic:

1. The "Broke Mindset" and its Social Trap:

This video critic dives into the concept of a "broke mindset" and how society can perpetuate it. The speaker suggests that poverty can become a self-fulfilling prophecy, where individuals believe wealth is unattainable, limiting their actions and ultimately hindering their financial progress. The speaker goes on to discuss how societal structures can contribute to this, with examples like excessive debt and lack of access to opportunities.

2. Time as a Resource: The Key to Breaking the Cycle?

The video critic identifies "time" as a crucial resource for breaking the "broke mindset." They argue that many individuals who struggle financially don'

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