"Fake it till you make it": how finally to build a healthy self-esteem

The phrase "Fake it till you make it" could be reworded as: "If you fake something long enough, you will actually achieve it". It is frequently cited as advice to people trying to work on their personality traits or wanting to reach a personal development goal. It is also often used with regard to building self-esteem, but does it work here too? Let's take a look.