Have you ever contemplated launching the business of your dreams?
Well, today’s guest is Rachel Rodgers, and she’s the perfect person to help us develop the mindset needed to create success! She’s the founder of Hello Seven, a multi-million dollar company that teaches you how to earn more money and build wealth. As a self-made millionaire and business owner, Rachel has become synonymous with a “no nonsense” attitude when dealing with others and has become known for her blunt and sensible advice. Rachel’s written a new book called We Should All Be Millionaires where she teaches us how to succeed financially in spite of the very real obstacles along the path.
This is part two of our conversation, so if you haven’t listened to part one yet, make sure to head over here to listen to how you can become a millionaire before carrying on.
In today’s episode, we discuss the difference between a rich and poor mindset, what it took for Rachel to grow her business from seven to eight figures, and how to double your income from one year to the next. Let’s jump right in!
Rachel Rodgers is the founder of Hello Seven, a multi-million dollar company that teaches women how to earn more money and build wealth. Rachel’s ground-breaking work has seen her featured in Time, Forbes, Entrepreneur, Fast Company, The Washington Post, on NBC News, and Cosmopolitan to name a few. Her mission is to teach women — especially women of color — how to end the cycle of overworking, under-earning, and financial stress once and for all.
Rachel believes making money is easy, and she challenges her audience to believe that too. However, she also believes that, while making money and accomplishing things is important, Rachel recognizes that her happiest moments can also be doing “boring” things with the people she loves. Whatever accolades she’s received, whether it’s being featured in magazines or asked to speak on stage — her happiest moments can be simply sitting on the couch cracking jokes or playing silly games with her family.
Rachel has clearly defined her life’s mission to be all about impacting people for good. She understands the necessity of becoming an ally to her clients and putting money in their pockets as a result of what they learn from her. Rachel uses that understanding as her guiding principle to create a podcast and blog that reaches over 50,000 women every week. Rachel shares guidance on how to take charge of your financial situation, increase your income, work smarter, and make decisions like a millionaire (even if you aren’t one yet).
She resides in North Carolina with her husband and four kids on a 53-acre ranch leading a life that is beyond her ancestors’ wildest dreams.
We are often a product of our surroundings, but thankfully, our adaptability gives us the chance to learn how to overcome the limitations of those surroundings. Mindset is key, and thankfully, it’s something we can work on and improve to change our circumstances. Having worked with clients for almost 15 years now, Rachel has a great understanding of the difference between a rich mindset and a poor one.
“I think it’s about seeing opportunity and feeling expansive and seeing abundance versus seeing everything as small and not possible. Does [your mindset] cut off or create opportunities for you? Making decisions that create more abundance in your life [can] sometimes [be] the opposite of what personal finance people say, [which is, ‘Budget, budget, budget,’ and, ‘Budget is king.’ I think it’s more than that [and] not just about money. The advice usually given to women [is,] ‘Stop buying lattes, shoes, [and] cut coupons’ — [but] that [advice] doesn’t make me feel rich. That doesn’t make me feel abundant or wealthy — [in fact,] if I can’t afford to buy a coffee when I have a good job and I work hard every day, it makes me feel broke.” – Rachel Rodgers
Buying a latte every day is less about spending the money and more about making Rachel feel fabulous. That feeling feeds her abundant mindset to create things that will add value to the world and help her earn even more.
Feeling abundant doesn’t mean you just go out and buy a Lamborghini if you don’t have the money. It’s about finding ways to feel abundant every day.
“I was staying at a place in Laguna a couple of days ago, [nothing] fancy at all, but it had this gorgeous ocean view. I listened to the ocean as I fell asleep — that [for me] is abundance. I went for a run along the beach, [which] costs me nothing. Sometimes just sitting outside and petting your cat and being in the sun and taking a few minutes for yourself [is all it takes to] make you feel abundant.” – Rachel Rodgers
It’s not always about dollars. You have chances to practice feeling rich every day, whether you think you are or not.
That’s easier said than done, which is why Rachel started Hello Seven and helps people develop a wealthy mindset — but success has brought its own set of challenges.
After 15 years in business, Rachel has crossed the seven-figure mark, and I’m curious what she believes are the biggest insecurities or challenges she faces as the leader of a company.
“We just hit eight figures, and I caught myself [saying], ‘Well, I know how to run a seven-figure business [but] I don’t know how to run an eight-figure business. I don’t know how to run a $10 million business. That’s not true, actually. Maybe there are some things I don’t know about this next phase, but that doesn’t mean I can’t figure it out! This is an ongoing journey where you’re having to constantly correct yourself and stop talking [negatively] because that’s not helping anything.” – Rachel Rodgers
It’s amazing how quickly negative self-talk can chime in! Rachel led her company to great success — there is plenty of evidence she is the right leader for her organization as Hello Seven moves into its next phase. One of the biggest challenges Rachel finds is trusting her gut about such large sums of money.
“Something that I recently went through that I’m coming out of is trusting myself with this amount of money. [Financial advisers] tell me to do things that I don’t want to do and the things I want to do and get excited about … they tell me not to do, like buying a beach house.” – Rachel Rodgers
Rachel’s family are so used to being landlocked and so enjoy spending a couple of summer weeks at the beach renting — but that can get expensive, which explains her decision to buy instead. Now, she has a beachside property to rent out during the months they aren’t there, and more importantly, the family can spend all summer long enjoying it.
Rachel lived by her abundant principles and chose to see the purchase as an opportunity and a challenge to earn more the following year. Rachel takes us through some key areas she identifies to help double her income that will answer your question, “How can I do that too?”
I gave Rachel a hypothetical demand to double her income in the next year to see what the next three moves Rachel would make.
“I don’t think I would do anything particularly drastic. I’d spend more money on Facebook ads to get in front of more people. I would probably reach out to some of my peers and ask them to help promote whatever launches or work we’re doing. I would probably say, ‘Yes’ to more press to get in front of a bigger audience. Instead of doing two launches a year, I’d be doing one every month. I feel like I would just do more of the same, but turn up the dial. It’s such a great question because it points out exactly the places where we’re complacent and content with [the current] level of growth.” – Rachel Rodgers
Rachel shows that doubling income isn’t about working harder or even doing anything different. Instead of trying to launch anything new, focusing on your current projects and tapping into your existing network alone has the potential to double your income.
Rachel isn’t just focused on making more money but also on the impact that extra money can bring. As an example, doubling her income from $10 million to $20 million would enable her to invest in her nonprofit and serve entrepreneurs, most of whom are single moms, by helping them to build businesses.
Rachel has audacious dreams of helping 1,000 single moms a year with her nonprofit. She has identified something that matters deeply to her, and she’s pushing her sphere of impact into that area. How do you consider service to others when you think about your business?
Getting to $20 million and serving more clients who are investing in your offering is one level of excitement, but more money isn’t necessarily changing your lifestyle that much. Sure, you can buy a few more things and invest more, but you’re essentially living the same lifestyle. That’s why having a deeper mission makes that goal to serve at a deeper level more exciting.
“It [also becomes a] showcase, being able to show that example of bringing it full circle where you start and get to a certain level and then you can start to give back in a huge way — and that’s really exciting. Being able to model doing it perfectly I think is so important because my clients see it. They’re action takers, [so they can emulate and] choose something they really care about and be inspired to go do [their] thing.” – Rachel Rodgers
The tendency is to want to wait until we think things are perfect — but as we discussed, it’s about getting started. Even if you know your service is imperfect, the value comes in figuring it out along the way.
“Let me be the guinea pig [and] do it wrong. Let me mess it up and show you that I’m still alive, I’m okay, and I made it through, so you can too. Be willing to be the first.” – Rachel Rodgers
Rachel doesn’t have to wait to hit the $20 million to get started. She can begin today by getting the ball rolling and setting up three key action points:
It just goes to show you that whatever level of success we achieve, there will always be doubts about our next steps. We must remain faithful in how we’ve tackled each challenge to get to this point and courageously keep taking the next step.
Guys, what a powerful conversation with Rachel. We just couldn’t fit all the wisdom into one episode, which is why we split it into two parts. You can listen to the entire episode here — and please don’t forget to check out part one.
I highly recommend picking up a copy of her latest book We Should All Be Millionaires. The book will help you continue learning the skills to shift your beliefs and mindset around money on your journey to becoming a millionaire. You should also check out Hello Seven’s courses and programs to identify how they can help you right now.
Considering Rachel has worked for 15 years developing skills to overcome challenges and teach others to do the same all while continuing to build her family, I was curious to know what Rachel’s definition of greatness is.
“Greatness [for me] is autonomy. [It’s about] leading in your own way and making decisions in your life and not letting other people do that. The ultimate freedom is having that autonomy and when we trust our ideas and our instincts — that’s going to lead to our own greatness.” – Rachel Rodgers
If no one’s told you lately, I want to remind you that you are loved, you are worthy, and you matter. Now it’s time to go out there and do something great!