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!
Who Is Rachel Rodgers?
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.
The Difference Between a Rich and Poor Mindset
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.
Embracing the Next Challenge
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?”
