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We’ve all heard it. “Fake it ’til you make it.” It’s the battle cry of countless start-ups, influencers, and overcaffeinated founders. But here’s the truth: that mindset has built as many straw houses as it has successful companies. It’s been twisted, stretched, and misused turning what was once about confidence into a licence for delusion. Let’s unpack what it really means … and what founders should be doing instead. The misunderstood mantra Ah, the old “Fake it ’til you make it.” Used well, it’s about confidence before competence... acting like the person who can do the thing. You start making decisions, having conversations, and taking risks like they would. It’s psychological scaffolding that helps you grow into your future self. Used badly, it’s pure theatre. Pretending you’ve got traction, experience, or funding you don’t actually have isn’t ambition … it’s deception. And in a world that values authenticity more than ever, that’s a fast way to lose trust and potentially go to gaol (jail, for those of you outside the UK). Just ask Elizabeth Holmes of Theranos infamy. So the smarter mindset is:
“Genuinely believe it ’til you become it.”
Grounded confidence. Real growth. No smoke, no mirrors.
Let’s be clear though, when I say “genuinely believe it,” I don’t mean whipping yourself into some kind of delusional fervour. That’s just deception on steroids. Your belief should be built on a near-scientific process; where your ideas, conclusions, and proposals are based on the best data you can find and generate yourself. The Five Fundamentals When I work with start-up founders, there are five basic areas that need to be covered and in this order: 1. Understand the problem deeply. What’s the pain you’re solving, and how bad is it for your potential customers right now? Be specific and obsessive about this. 2. Understand your niche. This isn’t just a list of existing players or customers. My go-to here is the Technology Adoption Life Cycle (TALC). Originally developed for disruptive tech, but equally powerful for understanding how any market evolves and how new businesses gain traction even in a mature environment. 3. Understand how your company will work day-to-day. The Business Model Canvas (BMC) is trotted out by every accelerator but rarely understood. When you get it, it’s almost brilliant … a living map of how your business will actually create and deliver value. 4. Master the Customer Journey (CJ). Another overused term that’s often under-understood. The CJ should be the backbone of your launch and growth plans, and it’s critical to building your financial projections. 5. Build your own numbers. One of the biggest killers of early-stage businesses is the belief that understanding the numbers is your accountant’s problem. You wouldn’t build an aeroplane without knowing what a wing does. Likewise, you don’t need to memorise every cell of every spreadsheet but you do need to grasp what drives them. A simple cashflow forecast and profit & loss account that you have created in Excel will give you more insight (and confidence) than any outsourced financial model. Two guiding principles As you work through these areas: Be honest with yourself and others. Keep it simple. Once you’ve done the work described above, you’ll have deep insight into your future company and its environment. You’ll know the potential upside and the risk. You’ll know what matters most, when it matters, and what support you’ll need along the way. Most importantly, you’ll know what you don’t know … and if you’re honest about that, in the short term, that’s actually really good. All that knowledge, generated by you, becomes the foundation of your genuine, grounded confidence and belief. So, don’t “Fake it ’til you make it.” That just means you haven’t done the basics of learning how to build your company.