The Hidden Reason Smart People Die Poor | Alex Hormozi

reading 100 books on sales versus doing 100 phone calls. Like, you'll learn a lot more in the first 100 calls. Entertainers have significantly less influence [music] than educators is because entertainers never give you anything to do. They just distract you. Why is it so difficult for people to two do compounding? There's the obvious

answer, which is patience, and the other is that they don't understand the upside. The difference between a million-dollar business and a hundred-million-dollar business is typically if you're a million-dollar business, you're still you're doing a lot of everything still. At 100 million >> Why do smart people stay poor? >> They don't do the things that makes

people rich. And I think they probably convince themselves that they're smarter than they are. And so, [music] if you were smart, then you would be rich. And so, then it follows that there's probably a a series [music] of traits of behavior that you don't do either because you think you're above them uh

or you don't know about them. So, either it's a declarative knowledge deficit, meaning you don't know about [music] the thing, uh which has nothing to do with the intelligence. Like, if somebody eats an apple, sorry, banana, and they're from a different country, and they just eat it through the skin, [music] it doesn't mean that they're stupid. It

means they're ignorant, which is very different. That's a declarative deficit. Then there's [music] procedural deficits, which is knowing how to. And I think one of the big difficulties with >> [music] >> smart people is they have tremendous amounts of declarative knowledge and very little procedural knowledge. [music] And so, it's like saying you read a book