If You Want To Become A MILLIONAIRE, Follow THESE STEPS! | Rachel Rodgers & Lewis Howes

Lewis Howes 0:00 If you had to double your revenue in the next calendar year, let's say from this year to next year-

Rachel Rodgers 0:05 It's such a great question because it points out exactly the places where we're complacent, and we're just like, "I'm content with this level of growth. I'm not gonna really work hard. I'm gonna coast for the rest [laughs] of the year" And it's like, if you had to hustle, it's really actually not that different. And you know what I'd probably do?

Lewis Howes 0:20 This video is brought to you by Wealthfront, and I'll tell you more about them in just a minute. I think you gotta have a dream. The School of Greatness. Really? [laughs] Yeah. Please welcome Lewis Howes. According to the Credit Suisse Wealth Global Report, only 1%, or 56 million people, are millionaires.

Rachel Rodgers 0:40 Interesting.

Lewis Howes 0:42 Now I'm curious, is it p- that's in the world, right?

Rachel Rodgers 0:45 Yes.

Lewis Howes 0:45 56 million people in the world are millionaires, or 1%. Is it possible for anyone listening to become a millionaire, in your mind? Is it possible for anyone to become a millionaire? And if so, what would need, what would they need to have the first three things in mind-

Rachel Rodgers 0:58 Yes

Lewis Howes 0:58 ... in order to work towards becoming that?

Rachel Rodgers 1:00 Yes. So first of all, yes, I do think that it's possible for anyone. And if there really truly is somebody because of their environment or-

Lewis Howes 1:07 Mm-hmm

Rachel Rodgers 1:07 ... systemic conditions that they're living in that they can't, then that's our responsibility for the rest of us to do it so that we can help lift that person up, right?

Lewis Howes 1:14 Okay.

Rachel Rodgers 1:15 So that's kinda how I see it, so I think we should just assume that we can.

Lewis Howes 1:18 What if all the excuses in the world, though, of like, "My parents won't let me do this, my, where I grew up," or this or that, "I don't have the education"-

Rachel Rodgers 1:26 Mm-hmm

Lewis Howes 1:26 ... you still think it's possible?

Rachel Rodgers 1:27 Yes, and you can find examples of millionaires-

Lewis Howes 1:29 Mm

Rachel Rodgers 1:30 ... in every circumstance.

Lewis Howes 1:31 Mm-hmm.

Rachel Rodgers 1:31 I, I myself grew up low income. Like, my parents were, uh, drug addicts and alcoholics at different points in their [laughs] lives. Like, there was, there was, on paper I was not a succe- a potential success story, right? And I could let that stop me or I could just say, "That's just part of my story."

Lewis Howes 1:47 Mm.

Rachel Rodgers 1:48 It doesn't mean any- in fact, I think it's actually propelled me. I think sometimes when you are at a disadvantage, you are in a better position. And if you think about people who are systemically and historically marginalized, right, like, there's not as many Black people, for example, who are teaching on a certain subject or who are experts in a certain field, right? You have an opportunity and a perspective to serve a segment of the market that's probably underserved right now-

Lewis Howes 2:10 Mm

Rachel Rodgers 2:11 ... if you are a marginalized person, you know? So I think that there is a wealth of opportunity, and we have tools now. Like, it's a miracle that we have the internet, right? Um, that's how I was able to do it.

Lewis Howes 2:21 Right.

Rachel Rodgers 2:21 So I think it is within reach, and I think we have to believe it. I mean, that's the first thing, is you have to believe it's possible. And I think the way that you get to start believing that it's possible is surround yourself with other people who also believe, right? Like, be in an environment, like listening-

Lewis Howes 2:36 Mm-hmm

Rachel Rodgers 2:36 ... to a podcast like this or reading books or joining communities where you could be surrounded with people who believe.

Lewis Howes 2:42 Mm.

Rachel Rodgers 2:42 'Cause there's any number of naysayers in the world who will tell you it's not practical, it's not possible. So you have to surround yourself with people who believe and who are doing it, who are working towards it. I think that's the first thing.

Lewis Howes 2:52 Okay. I like that.

Rachel Rodgers 2:53 I think the second thing is we have to really get clear on the way that we add value. I think we are so-

Lewis Howes 2:59 Mm

Rachel Rodgers 2:59 ... like, talented, and we think that we're not. Forget about the, what the world says. Forget about what your last boss said about you. Uh, forget about what degrees you do or don't have, right? Like, really think about your natural talents.

Lewis Howes 3:10 Yeah.

Rachel Rodgers 3:10 Like, every single one of us is born with natural talents and skillsets and a perspective that other people don't have. And the problem is we undervalue it. We think everybody can do what we do. Everybody can't do what I do.

Lewis Howes 3:21 Right. [laughs]

Rachel Rodgers 3:21 Right? Like, everybody can't rock this hair.

Lewis Howes 3:23 [laughs]

Rachel Rodgers 3:23 You know what I mean? [laughs] Like, you know, so we have to get in touch with what are our talents.

Lewis Howes 3:28 Mm-hmm.

Rachel Rodgers 3:28 And the way that we do that is look back at, like, when you were a kid, right? Like, what were the things that people came to you for or you were just naturally did. Like, I used to get in trouble all the time for talking too much.

Lewis Howes 3:38 [laughs]

Rachel Rodgers 3:39 Um, and now I get paid to talk.

Lewis Howes 3:40 Yes.

Rachel Rodgers 3:41 You know? So I think that there's, th- we can look back and see. Or, and it doesn't even have to be... Like, sometimes people think, oh, you gotta be a big personality. No, you don't. Like, there are people that I know who make millions just being a, someone who thinks like an engineer, who knows how to systematize things and create process, and they use that as a way to, like, invent strategies or processes-

Lewis Howes 4:03 Mm-hmm

Rachel Rodgers 4:03 ... that make them millions, right?

Lewis Howes 4:04 Yes.

Rachel Rodgers 4:04 So we all have talents, so we have to tap into that and really think about, "What is the value that I have to bring?" Um-

Lewis Howes 4:10 Yes

Rachel Rodgers 4:10 ... I think personality tests can help with that, just to start to give you an inkling towards... You know, become a student of yourself. Who am I, right? What do I have to bring to the world? What is my perspective? How does my growing up with a parent who struggled with alcoholism at one point in their lives, how's that benefit me-

Lewis Howes 4:28 Yes

Rachel Rodgers 4:28 ... and make me relate to more people and make, you know, me, um, more able to become a millionaire rather than less?

Lewis Howes 4:35 Mm-hmm.

Rachel Rodgers 4:35 So I think recognizing our value is, um, also a big piece of it. So we had mindset. We have, um, value. I talked a little bit-

Lewis Howes 4:44 And talent

Rachel Rodgers 4:45 ... about environment. Um, and then you know what? Like, I think for the last one I'm gonna just say charge accordingly.

Lewis Howes 4:52 Mm-hmm.

Rachel Rodgers 4:52 Like, [laughs] just start asking for more money, right?

Lewis Howes 4:54 Yes.

Rachel Rodgers 4:54 Like, just be audacious with your requests. Like, just ask.

Lewis Howes 4:57 Mm-hmm.

Rachel Rodgers 4:58 So I think, you know, it's one of the simplest things we can do is like, "Oh, you wanna pick my brain? Let me charge, uh, charge for that."

Lewis Howes 5:04 Right.

Rachel Rodgers 5:04 Um, or, you know, put an offer out, right? Offer to tutor your neighbors or offer to, whatever that skill is that you feel that you have, try to sell it and see what happens. See if anybody wants to buy it.

Lewis Howes 5:15 Absolutely.

Rachel Rodgers 5:15 You know? Um-

Lewis Howes 5:16 And the more valuable you become and the more people want your talent and your skills, you can start to charge more-

Rachel Rodgers 5:24 Exactly

Lewis Howes 5:24 ... accordingly. You, maybe when you start out you need to charge in a certain way, but as you grow you can really start to charge premium levels.

Rachel Rodgers 5:30 Yes. And honestly, here's the thing. I think we could charge premium on day one.

Lewis Howes 5:34 Yeah.

Rachel Rodgers 5:34 I just think that we're too afraid to do it.

Lewis Howes 5:36 Yes.

Rachel Rodgers 5:36 As long as you can back it up. As long-

Lewis Howes 5:38 You gotta get results. You gotta get results.

Rachel Rodgers 5:39 Yeah, exactly. If you can get results, um, then you, then- Then why do you have to... You don't have to charge lower 'cause everybody else does.

Lewis Howes 5:46 Right.

Rachel Rodgers 5:46 I think we do that 'cause we're scared. So we're like, "Oh, you know, this very valuable thing that I have to give, I'm gonna give it for $100 instead of $1,000 because $100 scares me less."

Lewis Howes 5:56 Mm-hmm.

Rachel Rodgers 5:56 And it's like, okay, fine. Put it out for $100 just, and then see the results that you get for people, then get mad about it [laughs] and then raise the price.

Lewis Howes 6:03 Exactly.

Rachel Rodgers 6:03 Which is what I did. [laughs]

Lewis Howes 6:05 Yeah.

Rachel Rodgers 6:05 So. [laughs]

Lewis Howes 6:06 [laughs] I mean, you charged less-

Rachel Rodgers 6:08 Right

Lewis Howes 6:08 ... but you got incredible results, and you're like, "Oh, I should have charged 10 times more."

Rachel Rodgers 6:10 I played myself, yes. [laughs]

Lewis Howes 6:12 I think it's, I think it's okay when you're first starting out, the first six months of a venture or something, it's like, you know, I've done things for free for friends to see-

Rachel Rodgers 6:19 Oh, totally

Lewis Howes 6:19 ... can I actually get the results? Let me try.

Rachel Rodgers 6:21 Yes.

Lewis Howes 6:21 I got it for myself. Can I do it for one person?

Rachel Rodgers 6:23 Yes.

Lewis Howes 6:23 Oh, I did. Okay, let me charge the next person.

Rachel Rodgers 6:25 Yes.

Lewis Howes 6:26 Man, they made a lot of money from my help. Let me charge more for the next time-

Rachel Rodgers 6:29 Exactly

Lewis Howes 6:29 ... and then keep going up.

Rachel Rodgers 6:30 Yes.

Lewis Howes 6:31 I think that's the best way to do it. What if someone's, uh, listening and they're, or watching, they're in their, their mid to late 20s and they haven't really figured out what they wanna do with their career or their, their business aspect of their life yet.

Rachel Rodgers 6:43 Yes.

Lewis Howes 6:45 What would you suggest in terms of the fastest path to making millions?

Rachel Rodgers 6:50 Yes.

Lewis Howes 6:50 The fastest path to being a millionaire based on their skills. How can they assess their skills? What would that industry be? What would that lane be? Is that a career? Is that investing in something? Is that earning as a solo entrepreneur to an, an entrepreneur? What lane should they take or think of?

Rachel Rodgers 7:06 Yes.

Lewis Howes 7:06 What are kind of these three different lanes you would suggest?

Rachel Rodgers 7:09 So I don't believe that we should choose our path based on, like, what industry's hot right now.

Lewis Howes 7:16 Mm-hmm.

Rachel Rodgers 7:16 You know? I think what's going to make you the most money the fastest is the thing that you're willing to consistently do, and that's usually connected to something that we actually care about and are interested enough in.

Lewis Howes 7:27 Right.

Rachel Rodgers 7:27 So I think sometimes we're like, "Oh, this is hot," or, "This is a hot idea. We should jump on that." And it's like, you could, and n- I'm not saying that that won't work, but I think the way that I've been most consistent is if I'm doing the kind of work that I enjoy, that I enjoy, that I believe in, where I feel like I'm making a difference and where I'm having fun.

Lewis Howes 7:45 Yeah.

Rachel Rodgers 7:45 If it's a drag, I'm not gonna... I'm gonna stop showing up.

Lewis Howes 7:47 It's gonna be tiring after a year or two years-

Rachel Rodgers 7:49 Exactly

Lewis Howes 7:49 ... you'll be like, "It's exhausting."

Rachel Rodgers 7:51 Right. So finding that thing that you're willing to do for 10 years, and sometimes you don't know, right? Like, when I graduated from law school, I started a law practice 'cause I knew I didn't want any of these other jobs that I was being offered at these firms or at nonprofits. And I was just like, "You know what? I'm gonna go do my own thing," and I started my own practice. And law wasn't it for me. That wasn't my thing. But through doing that, I discovered that I really love running a business, and I'm actually good at it.

Lewis Howes 8:17 Right.

Rachel Rodgers 8:17 Um, and so that, I would have never gotten to that. So I think there's the advice by, um, Denzel Washington. You know, they asked him, like, "What would you advise young actors?" And he says, "Act."

Lewis Howes 8:28 Yeah.

Rachel Rodgers 8:28 Right? Just get out there and do it. And so I think that's what you have to do, is just pick something and do, and through that you're gonna learn what you do like, what you don't like, what you're drawn to. You're also gonna get a perspective that's gonna show you opportunity. Like, I figured out, Small Business Bodyguard is a digital product that I created while I was running my law practice, right, in 2013. But when I was a law clerk in 2009 and working in the courts every day, I identified that, like, there's people who, you know, can get legal aid and get a free attorney, and then there are people who can afford attorneys, and there's a whole lot of people in between that-

Lewis Howes 9:01 Yes

Rachel Rodgers 9:01 ... where they don't qualify for legal aid, but they also can't afford 350 an hour for an attorney, right? And so I was like, wow, wouldn't it be amazing if there was some DY- DIY option? Like, they could do it themselves if they just had a little bit of guidance.

Lewis Howes 9:13 Yes.

Rachel Rodgers 9:14 Um, and so, like, that idea was planted then, right? And then years later-

Lewis Howes 9:19 You executed on it. Yeah.

Rachel Rodgers 9:20 Exactly.

Lewis Howes 9:20 Yeah.

Rachel Rodgers 9:21 Exactly. So I think sometimes we just have to get out there, get into something, right? Start doing something and just getting information from that and seeing.

Lewis Howes 9:29 Hmm.

Rachel Rodgers 9:29 And go where you're drawn. I think we have... Our instincts are so powerful. We collect too much information, too many advisors, too much content, right? So I think sometimes we just have to follow our instincts. Where do we feel led?

Lewis Howes 9:41 Do it.

Rachel Rodgers 9:42 Do it and see what happens.

Lewis Howes 9:43 Yeah.

Rachel Rodgers 9:43 Nothing is... It doesn't have to be permanent.

Lewis Howes 9:45 Right.

Rachel Rodgers 9:45 Just gather some information from it and see what's next.

Lewis Howes 9:48 We'll get back to the interview in just a minute, but first, I wanted to tell you about a product that can help you on your investing journey, and that's Wealthfront. Wealthfront is the pioneer of the automated investing movement, and their trusted software allows you to set it and forget it when it comes to your investments. In just a few minutes, they'll set you up with your very own diversified portfolio of low-cost index funds that's tailored to your individual risk tolerance, and then they'll handle all the rebalancing for you. And best of all, Wealthfront does all of this at an affordable cost. Wealthfront also has a new offering specifically for anyone interested in cryptocurrencies but doesn't want all the hassle of buying it directly. In fact, they're the only solution on the market that allows you to get exposure to Bitcoin and Ethereum as part of a diversified portfolio with automated rebalancing. There's been a lot of talk in the news lately about crypto, as I'm sure you know, and Wealthfront makes it easy getting started. So whether you're already investing in crypto, you've been considering it, or you just don't know where to start, I encourage you to check them out. Investing in yourself and in your future shouldn't feel like a rollercoaster. Make Wealthfront do it for you by going to invest.wealthfront.com/lewis and opening an account today. And I've partnered with them to get you $5,000 managed for free forever. Okay, back to more investment tips with Rachel Rodgers. Why do you think it's so hard for people

Lewis Howes 11:20 to be transparent about their money and talk about money? Why is it such a taboo topic in general?

Rachel Rodgers 11:25 Yes.

Lewis Howes 11:26 I think for all classes, all individuals, it's like-

Rachel Rodgers 11:28 I totally agree. It's like you have... It's so funny because, and I wrote about this in my book, like, for women, we have shame if we don't have enough money, but we also have shame if we have, quote-unquote, too much.

Lewis Howes 11:39 Really?

Rachel Rodgers 11:40 Yes.

Lewis Howes 11:40 Why?

Rachel Rodgers 11:41 Because it's like, you know, "Oh, I have more than them, and let me hide it, uh, 'cause, uh, people are gonna think I'm showing off," or-

Lewis Howes 11:48 Oh

Rachel Rodgers 11:48 ... they, they have imposter syndrome, right? Am I worthy of having this much money? I've d- I've experienced that myself at different times, right? Like, you've worked hard for it, but you think that you don't deserve it for some reason, and I think that we just have- I think society was sort of designed so that we wouldn't talk about money.

Lewis Howes 12:06 Why?

Rachel Rodgers 12:06 Because I think it's designed so that we have a few people at the top and a lot of people at the bottom. And so now, you know, then of course the middle class emerged, and we've gone through different things as a middle class, as a collective, right?

Lewis Howes 12:20 Mm.

Rachel Rodgers 12:20 Um, but I think it's... I, I, I think that's part of the reason why it's like, "Don't tell..." You know, employers saying, "Don't tell your coworkers how much you're making because I'm paying you more than I'm paying this one and I don't want y'all to know."

Lewis Howes 12:33 Mm.

Rachel Rodgers 12:33 Right? So it's like it comes from those places, but it's reinforced everywhere, you know?

Lewis Howes 12:38 Right.

Rachel Rodgers 12:38 Um-

Lewis Howes 12:39 Everyone's reinforcing it.

Rachel Rodgers 12:40 Exactly. And I think-

Lewis Howes 12:40 Not just corporations or, you know.

Rachel Rodgers 12:42 Yes. And because there's so much mystery, it's like I don't, I don't know how much you make, right?

Lewis Howes 12:46 Mm.

Rachel Rodgers 12:46 You, you don't know. Maybe you know how much I make, 'cause I talk about it all the time. But [laughs] but I don't... You know what I mean? So, like, we, we don't know and we're scared to make assumptions, and we're sort of guessing. And we're like, "Well, if I put mine out there, I might be embarrassed because I discover that, like, I'm actually either making too much related to my peers or too little."

Lewis Howes 13:04 Mm.

Rachel Rodgers 13:04 And I think it h- goes back to belonging. We just wanna belong to a community, to a group. You know what I mean?

Lewis Howes 13:10 Sure.

Rachel Rodgers 13:10 And so because of that, it's like we don't wanna do anything that's gonna make us not belong. It's such an inherent human need-

Lewis Howes 13:17 Mm

Rachel Rodgers 13:17 ... to belong. And so I think that we don't talk about money because we think it's going to affect our ability to belong, whether it means we're too broke or we have too much, you know, or somewhere in the middle.

Lewis Howes 13:29 So what conversations should we be having around money, how consistently should we be having them-

Rachel Rodgers 13:33 Yes

Lewis Howes 13:34 ... and with who?

Rachel Rodgers 13:35 Yes. Okay. So in terms of the conversations I'm having, I'm telling people, like, "If I get a speaking gig, here's how much they paid me," right? "And I asked for more and they gave it to me, so make sure you do that, too," right? [laughs] Like, or, "I negotiated for higher pay," or, "I negotiated for profit sharing," or, "I asked for more vacation days," right? Like, we need to share our money-earning strategies with each other, especially with, you know, women and people of color, right? Like, putting more money... Like, that's what allyship is in my opinion, is putting money in the, in the pockets of the groups who need them, right?

Lewis Howes 14:08 Mm-hmm.

Rachel Rodgers 14:08 Um, and who... You know, we have this huge wealth chasm in this country, so, like, how can we start to change that? And so that's why I share how much I got paid for a book deal. Like, all these things that you're not supposed to share, I'm like, "I'ma tell y'all." [laughs]

Lewis Howes 14:20 Yeah, yeah.

Rachel Rodgers 14:21 "This is how much I got. This is how I got it," you know? Um, and I think it's important. So I think sharing money-making strategies is very important. I also think one of the things that has been so valuable to me with some of my, my peers, especially, I will say my white guy peers in particular [laughs] have showed me, like, they have taught me things about, like, you know, uh, investing strategies or, you know, like, "Oh, here's a strategy that I'm doing with my money," or, "I'm investing in real estate," or, "I'm doing these different things." Like, what are people doing with money once you have some, right?

Lewis Howes 14:54 Right.

Rachel Rodgers 14:54 Like, once you have a little bit more than you need to live off of, what do you do with the excess? And sharing those things, right?

Lewis Howes 15:00 Sure.

Rachel Rodgers 15:00 Sharing that information. 'Cause it's usually hidden and it's like-

Lewis Howes 15:03 Mm

Rachel Rodgers 15:03 ... there's a small group of people that know, and you don't know until you have peers who have done it. And then you find out, right? [laughs]

Lewis Howes 15:09 Right, right.

Rachel Rodgers 15:09 In those quiet conversations that aren't on, you know, on Facebook, right? [laughs]

Lewis Howes 15:14 Sure, sure, sure.

Rachel Rodgers 15:15 So. [laughs]

Lewis Howes 15:15 Should people be talking with their friends, their, their family members, their spouses-

Rachel Rodgers 15:20 Yes

Lewis Howes 15:20 ... about money or-

Rachel Rodgers 15:21 Yes

Lewis Howes 15:22 ... what if someone's really uncomfortable and says, "You know what? I don't wanna talk about the money I make and how, what we should be doing"? W- what, what conversation can you have-

Rachel Rodgers 15:30 Yes

Lewis Howes 15:30 ... to try to break the wall down?

Rachel Rodgers 15:31 Well, I think you could say, "Here's why I wanna talk about money and here's why..." Like, we have to be... I think if we're willing to be transparent, people will be transparent with us.

Lewis Howes 15:39 Mm.

Rachel Rodgers 15:39 That's what I've found in the conversations that I've had.

Lewis Howes 15:42 Yeah.

Rachel Rodgers 15:42 And that's how I've learned a lot about money is by having conversations, you know? Like, um, the friend that I was spending time with last night, she's an investor and a financial advisor, and so I was asking her, like, "Okay. Well, what are you investing in and how are you thinking about it, and what is an investment thesis?" Like, I don't even know what that means, right? Like, [laughs] you know-

Lewis Howes 16:01 Sure

Rachel Rodgers 16:01 ... we were having conversations and she was teaching me all of this stuff because I was willing to tell her, like, "Okay. Here's how much money I wanna invest, but I don't know where to, where best to put it." You know?

Lewis Howes 16:10 Mm-hmm.

Rachel Rodgers 16:10 That kind of thing. So I think you just gotta be willing to put yourself out there first. And I find that people want to talk about it. So when I bring it up and I start sharing, they immediately start sharing because it's like they were, like, waiting for an opportunity [laughs] to talk about this-

Lewis Howes 16:24 Yes

Rachel Rodgers 16:25 ... is what I find. So I think we just gotta start doing it, um, and create more transparency around it. Um, and then yeah, it creates, it creates opportunity for all.

Lewis Howes 16:36 Mm-hmm.

Rachel Rodgers 16:36 And that's the other piece of it is, like, I recognize that, you know, even someone who would be considered a direct competitor, maybe they sell the same thing I sell, I don't, I don't believe in competition in that way.

Lewis Howes 16:47 Mm.

Rachel Rodgers 16:47 I think there's more than enough money to go around. I think there's more than enough opportunity to go around.

Lewis Howes 16:52 Yes.

Rachel Rodgers 16:52 And I choose to, like, be friendly with and, and support my, my competitors, quote unquote, and vice versa. Um, and that just means that we all get better at what we're doing. We all can serve our clients better, right?

Lewis Howes 17:06 Sure.

Rachel Rodgers 17:06 We all can make more money.

Lewis Howes 17:08 Absolutely.

Rachel Rodgers 17:08 So, um, I just choose to believe that. And sometimes, like, there are times where I'm too trusting and someone, you know, I don't know, I guess you could, uh, for lack of a better phrase, steals from me, right?

Lewis Howes 17:20 Mm.

Rachel Rodgers 17:20 Or takes an opportunity or says one thing but does another behind my back, whatever.

Lewis Howes 17:24 Right.

Rachel Rodgers 17:24 And that's gonna happen, too, but I'm like, but I don't wanna be a person who's closed.

Lewis Howes 17:29 Mm.

Rachel Rodgers 17:29 So I'm just gonna, I just gotta be me and it is what it is, right?

Lewis Howes 17:32 Right.

Rachel Rodgers 17:32 Like, there's gonna be some h- occupational hazards when you're being transparent.

Lewis Howes 17:36 Absolutely.

Rachel Rodgers 17:36 Um, and you just gotta navigate that as best you can, but I just choose to be who I wanna be in the world instead of who-

Lewis Howes 17:43 Yeah

Rachel Rodgers 17:43 ... I feel like I need to protect myself, you know?

Lewis Howes 17:45 [sighs]

Lewis Howes 17:46 What was harder for you, making your first $100,000 in a year or making your first million dollars in a year?

Rachel Rodgers 17:52 $100,000 for sure.

Lewis Howes 17:54 Why is making $100,000 harder than making a million in a year?

Rachel Rodgers 17:58 Be- because it's like, I think we're just figuring it out. I also think we're charging too little for our work at that point. [laughs]

Lewis Howes 18:05 Is this when you're working as a career or when you had your own business? Or freelance or whatever

Rachel Rodgers 18:10 Um, I never made 100 grand prior to starting my business.

Lewis Howes 18:13 Got it.

Rachel Rodgers 18:13 You know, I went from college to, like, I had a job in between college and law school, and then I went to law school, and then I started my own practice. So-

Lewis Howes 18:20 So you didn't work at a law firm after law school?

Rachel Rodgers 18:23 Mm-hmm.

Lewis Howes 18:23 You s- so you started pretty much right away-

Rachel Rodgers 18:25 Exactly

Lewis Howes 18:25 ... being an entrepreneur.

Rachel Rodgers 18:26 Right. I was-

Lewis Howes 18:26 Which is really hard to do.

Rachel Rodgers 18:27 Yes.

Lewis Howes 18:28 I mean-

Rachel Rodgers 18:28 My last salary before I became an entrepreneur is, was $41,000 a year.

Lewis Howes 18:32 Gotcha.

Rachel Rodgers 18:32 And, like, really good health insurance.

Lewis Howes 18:34 Yeah, yeah.

Rachel Rodgers 18:34 And I was thrilled. [laughs]

Lewis Howes 18:35 That was in between law school, or in between school and law school is that what you're saying?

Rachel Rodgers 18:39 Yes.

Lewis Howes 18:39 Gotcha.

Rachel Rodgers 18:39 No, in between, um, this was after law school, 'cause this was my clerkship.

Lewis Howes 18:44 Okay, gotcha.

Rachel Rodgers 18:44 Yeah, so, you know, you kind of sign on for a year. You, your paycheck is not that big. [laughs]

Lewis Howes 18:50 Mm-hmm.

Rachel Rodgers 18:50 But, like, and you're a lawyer, right? So-

Lewis Howes 18:52 You're learning the ropes, you're getting reps, you're, yeah.

Rachel Rodgers 18:54 Exactly.

Lewis Howes 18:54 You're getting experience, yeah.

Rachel Rodgers 18:55 And then, and that's kinda why I decided to start my business at that time, 'cause I'm like, "I already don't have a lot," right? Like, I already know how to live off of this-

Lewis Howes 19:03 Nothing

Rachel Rodgers 19:03 ... amount of money.

Lewis Howes 19:03 Yeah, yeah.

Rachel Rodgers 19:04 Yeah. So I'm like, "If I can live off of this now, let me keep my expenses this way or lower them even more." Like, I sold my car, and we owned a house and we rented it out, moved into a smaller place.

Lewis Howes 19:14 And how many kids did you have at this time?

Rachel Rodgers 19:15 I had none yet.

Lewis Howes 19:16 Okay. [laughs]

Rachel Rodgers 19:16 Oh, well, actually, yeah, that's not true. I had my, my stepdaughter, but she didn't live with us full time.

Lewis Howes 19:20 Okay.

Rachel Rodgers 19:21 Um, and so that's what I did at that stage is, like, I cut down my expenses as much as I could so that I could build this business.

Lewis Howes 19:28 How old were you then?

Rachel Rodgers 19:29 I was, God, 27-

Lewis Howes 19:32 Okay

Rachel Rodgers 19:32 ... I wanna say.

Lewis Howes 19:33 Got it.

Rachel Rodgers 19:33 2009.

Lewis Howes 19:34 Uh-huh.

Rachel Rodgers 19:35 Or n- yeah, 2009 to 2010.

Lewis Howes 19:37 Okay, cool.

Rachel Rodgers 19:37 Is, this was that year. Um, and then I clerked for the judge and I started my, my practice. And I was like, you know, I made, like, there were months where I made 500 bucks-

Lewis Howes 19:47 Mm-hmm

Rachel Rodgers 19:47 ... and months that I made $2,000. And that's why, like, the linking together, you know, I was doing, my friend bought a salon. She was a style- a hair stylist. She wanted to buy her first salon. I did the transaction. She was purchasing a, an existing business, and I charged her 500 bucks for that. I don't think I've actually ever told anybody that [laughs] 'cause I didn't-

Lewis Howes 20:05 That's, that's cheap

Rachel Rodgers 20:05 ... and I, 'cause I was ashamed. I was ashamed that I didn't know what to charge for that.

Lewis Howes 20:09 Wow.

Rachel Rodgers 20:10 And that I undervalued my services so much that I, like, literally have never told anybody [laughs] that-

Lewis Howes 20:14 Wow

Rachel Rodgers 20:14 ... I charged 500 bucks for that. [laughs] Um, and she's still a good friend of mine.

Lewis Howes 20:18 Wow.

Rachel Rodgers 20:19 Um, and she-

Lewis Howes 20:19 That's not her fault.

Rachel Rodgers 20:20 No, it's not her fault.

Lewis Howes 20:21 Yeah, yeah.

Rachel Rodgers 20:21 She made bank with that salon.

Lewis Howes 20:23 Yeah, yeah.

Rachel Rodgers 20:23 And she's since now, um, sold it. But-

Lewis Howes 20:26 But you also got experience doing that, you know, doing that transaction-

Rachel Rodgers 20:30 Totally

Lewis Howes 20:30 ... that deal, which you'd probably never done at that level-

Rachel Rodgers 20:32 Yeah

Lewis Howes 20:32 ... seems like. So you gained confidence from that.

Rachel Rodgers 20:35 Yes.

Lewis Howes 20:35 So there was a win there for you as well.

Rachel Rodgers 20:36 There was a win, and, but when I saw how many hours of labor were involved-

Lewis Howes 20:41 Oh, you, you put, like, weeks probably in, right?

Rachel Rodgers 20:42 I, yes. I'm negotiating with the other side, dealing with, like, a difficult lawyer.

Lewis Howes 20:46 Man, $500 is a steal.

Rachel Rodgers 20:47 I mean, for the whole thing?

Lewis Howes 20:49 I can't hire you for that?

Rachel Rodgers 20:50 I shoulda, I should've charged $5,000 minimum.

Lewis Howes 20:53 Wow. Right.

Rachel Rodgers 20:53 You know? Um, but it was like, but I learned from that.

Lewis Howes 20:56 Of course.

Rachel Rodgers 20:57 Oh, I, I value-

Lewis Howes 20:58 Of course

Rachel Rodgers 20:58 ... I can, I can figure it out, and I have a skill in that I'm trained in knowing how to figure it out.

Lewis Howes 21:02 Yeah.

Rachel Rodgers 21:03 You know what I mean? So even that-

Lewis Howes 21:03 And that was kind of like learning on the job experience. Like, you weren't-

Rachel Rodgers 21:06 Totally

Lewis Howes 21:07 ... fully probably experienced for that yet it sounds like.

Rachel Rodgers 21:09 Yes.

Lewis Howes 21:09 But you learned, "Okay, I didn't need to do these 10 hours of calls that I did here. I could've done this in an email," or whatever.

Rachel Rodgers 21:16 Yes.

Lewis Howes 21:16 I don't know how this works, but whatever it was, you, you learned your process-

Rachel Rodgers 21:19 Yes

Lewis Howes 21:19 ... to simplify it, to maximize it, so.

Rachel Rodgers 21:21 Exactly. And back to that 100 grand question, I think that's why. It's like we're figuring it out.

Lewis Howes 21:26 Yes.

Rachel Rodgers 21:26 Usually we don't know exactly what we sell in those early stages of the business-

Lewis Howes 21:29 Mm-hmm

Rachel Rodgers 21:29 ... so we're selling everything.

Lewis Howes 21:30 Everything.

Rachel Rodgers 21:31 Whatever people come to us with, we're like, "Yeah, we could do that." [laughs] We just create a custom offer for that.

Lewis Howes 21:35 Whatever money we can bring in, we'll do it.

Rachel Rodgers 21:36 [laughs] We will take it.

Lewis Howes 21:37 Yeah. [laughs]

Rachel Rodgers 21:38 And so you're very busy. Um, I call this stage busy bee, 'cause you're very busy at this stage, but you're, nothing's refined, nothing's efficient. Everything is just sort of like your massive labor towards-

Lewis Howes 21:50 Yeah

Rachel Rodgers 21:50 ... whatever you can make happen. And so that first 100 grand, I think you are hustling for that. Um, but in order to get to a million, or at least to do it in a way that feels sustainable, um, you need systems, you need process-

Lewis Howes 22:04 Mm-hmm

Rachel Rodgers 22:04 ... you need team, right?

Lewis Howes 22:05 Yes.

Rachel Rodgers 22:05 And so now you're starting to build a sustainable business. You're not just, you know, by brute force making money.

Lewis Howes 22:12 Yeah. And you need to clarify your offering and your, your audience and your niche and-

Rachel Rodgers 22:15 Mm-hmm

Lewis Howes 22:15 ... what your specialty is. You're not-

Rachel Rodgers 22:16 Exactly

Lewis Howes 22:17 ... "I'm not just a lawyer that can do anything you want me to do, but here's what I really specialize in."

Rachel Rodgers 22:20 Exactly.

Lewis Howes 22:21 "And here are my three packages at these different levels." And-

Rachel Rodgers 22:24 Yes. And there's-

Lewis Howes 22:24 And you go all in on marketing that.

Rachel Rodgers 22:26 Yes. And there's money that you're saying no to.

Lewis Howes 22:28 Absolutely.

Rachel Rodgers 22:29 You learn that lesson that not all money-

Lewis Howes 22:30 Isn't that crazy?

Rachel Rodgers 22:30 ... is good money. [laughs]

Lewis Howes 22:31 Isn't that crazy?

Rachel Rodgers 22:32 Yes. [laughs]

Lewis Howes 22:33 It's so... I say this a lot to people. I go, "It's weird that I'll turn down massive checks all the time."

Rachel Rodgers 22:38 Yep.

Lewis Howes 22:38 But I'm just like, "That's not what I wanna do, and it doesn't serve my mission."

Rachel Rodgers 22:41 Yes.

Lewis Howes 22:42 If it's not serving the mission and I don't need the money-

Rachel Rodgers 22:45 Mm-hmm

Lewis Howes 22:45 ... then I shouldn't do something just to bring in more money.

Rachel Rodgers 22:48 Exactly.

Lewis Howes 22:48 For me, for me.

Rachel Rodgers 22:48 'Cause it, it's a distraction.

Lewis Howes 22:50 At different stages of my life, a different season, I would've said yes to everything.

Rachel Rodgers 22:53 Right.

Lewis Howes 22:53 You know, when I'm broke, y- you say yes to all these things.

Rachel Rodgers 22:55 Yes.

Lewis Howes 22:56 But then when you're like, "Okay, I'm here for a mission, and to serve the highest level of my skills and abilities, that brings me the most joy-

Rachel Rodgers 23:03 Yes

Lewis Howes 23:03 ... and brings others the most joy, and benefits the most number of people," then you start saying no to money, which is crazy.

Rachel Rodgers 23:08 Yes.

Lewis Howes 23:09 It sounds crazy, doesn't it?

Rachel Rodgers 23:10 It's delightful. [laughs]

Lewis Howes 23:12 It is.

Rachel Rodgers 23:12 I love it.

Lewis Howes 23:13 No, it's great.

Rachel Rodgers 23:13 I feel, I feel like to me it lets me know that I'm not, it's like I've not made money my master.

Lewis Howes 23:19 Yes.

Rachel Rodgers 23:19 Right? Like, it's very important, but it is a tool.

Lewis Howes 23:22 Mm. That's good. Yeah.

Rachel Rodgers 23:23 You know what I mean? And I'm not beholden to it, and I won't trade anything for it. There is plenty of things that I will not do, and I don't care how much you pay me, you know?

Lewis Howes 23:31 Right.

Rachel Rodgers 23:31 So I think that it's good to remember that. And so when you're turning down opportunities, it's, it's just an example of like, "Okay, I'm, I'm, I'm doing things right."

Lewis Howes 23:39 But I think you gotta understand that just 'cause you turn down money over here doesn't mean it's not gonna keep coming to you.

Rachel Rodgers 23:45 Mm-hmm.

Lewis Howes 23:46 Like, just because you turn down something that's not right for you doesn't mean abundance of something that is right-

Rachel Rodgers 23:51 Yes

Lewis Howes 23:51 ... will keep coming to you.

Rachel Rodgers 23:52 There's so much opportunity. There's always more where that came from.

Lewis Howes 23:55 Absolutely.

Rachel Rodgers 23:55 You know?

Lewis Howes 23:56 Absolutely. That's powerful. Okay, so the first 100,000, how long did it take you? How many years until you made 100,000 in one year?

Rachel Rodgers 24:03 Yes.

Lewis Howes 24:03 Can you remember roughly?

Rachel Rodgers 24:04 Um, so my first year in business, and it was like I started September 1st, 2010. And so from that year till, like, September 2011, I made, like, 60 grand that first year.

Lewis Howes 24:14 That's great.

Rachel Rodgers 24:14 But I think the first full 12-month calendar year was, like, year two. So it wasn't, it didn't take too long.

Lewis Howes 24:21 Mm-hmm. And then how long until you made seven figures in one year?

Rachel Rodgers 24:25 Yeah. That took me seven years.

Lewis Howes 24:27 After that, yeah.

Rachel Rodgers 24:28 Yeah.

Lewis Howes 24:28 From starting business, yeah.

Rachel Rodgers 24:29 From, from, from September 2010, I think it was, maybe it was six. It was, like, 2016, 2017.

Lewis Howes 24:34 Yeah.

Rachel Rodgers 24:35 Um, I think 2017 was my first seven-figure year.

Lewis Howes 24:38 Mm.

Rachel Rodgers 24:38 And I had gotten close, but not, you know-

Lewis Howes 24:41 Right, right. Crossing it, yeah, yeah

Rachel Rodgers 24:41 ... like almost there, but not quite. And twice. And, you know what? It was interesting. What happened is, like, I had my business, my revenue was doubling in the beginning. It was like I made 100 grand-

Lewis Howes 24:52 Mm

Rachel Rodgers 24:52 ... then I made two or 250. And then, you know, then I made 500. Then I was-

Lewis Howes 24:56 But then it's like-

Rachel Rodgers 24:57 I plateaued and-

Lewis Howes 24:58 It, it's like, okay, 560 and then-

Rachel Rodgers 25:00 Right

Lewis Howes 25:00 ... 620 and like-

Rachel Rodgers 25:01 I know. It started making me mad. Like, from 500 to 700,000, I think I was there for, like, three years.

Lewis Howes 25:07 Yeah.

Rachel Rodgers 25:07 And there was all kinds of stuff going on in my life. One, there was a lawsuit that m- I, one of my business partners. So, like, this is one of the things where you're too trusting too quickly-

Lewis Howes 25:16 Oh

Rachel Rodgers 25:16 ... caused some issues. So that was a huge distraction for me at that time. I had had two babies back to back.

Lewis Howes 25:21 Wow.

Rachel Rodgers 25:22 So, you know, I was busy with them. And then there were just a lot of lessons I needed to learn. Like, I had all these people working for me, but I didn't have good boundaries, and I didn't... I just kinda let them do whatever they wanted and didn't have-

Lewis Howes 25:35 Mm-hmm

Rachel Rodgers 25:36 ... you know, like I was learning how to become a boss. I was learning how to become a leader and a manager.

Lewis Howes 25:40 S- so much more challenging than just doing your skill.

Rachel Rodgers 25:42 Mm-hmm.

Lewis Howes 25:43 Like, let me just be good at the law thing-

Rachel Rodgers 25:45 Yes. [laughs]

Lewis Howes 25:46 ... which is what people wanted me for.

Rachel Rodgers 25:48 Yes.

Lewis Howes 25:48 Now they want my business for that and me, but I've gotta train the team and, and it's a whole-

Rachel Rodgers 25:53 To deliver.

Lewis Howes 25:53 Yeah.

Rachel Rodgers 25:54 Right. Exactly.

Lewis Howes 25:55 It's a different skill.

Rachel Rodgers 25:56 It's totally different and it's, it can be challenging, and I think that's why a lot of times we're like, "Well, I'm just gonna go back to doing it myself." And it's like you can, but it's gonna keep you small.

Lewis Howes 26:03 Yeah.

Rachel Rodgers 26:04 You have to say yes to those challenges and learn that new skill, right? Um, and I think leadership skills are so valuable and, uh, for everybody. So, um, yeah.

Lewis Howes 26:14 What-

Rachel Rodgers 26:14 I had to learn that, and it took me a couple of years to, like, figure out how to have stronger boundaries, to figure out how to stop letting people waste my time.

Lewis Howes 26:22 Ooh.

Rachel Rodgers 26:22 Figure out how to-

Lewis Howes 26:24 Who-

Rachel Rodgers 26:24 ... charge for what I-

Lewis Howes 26:25 Mm

Rachel Rodgers 26:25 ... w- what my services are worth, right? All of those things. Those were lessons that I was learning in that time.

Lewis Howes 26:30 Who was wasting your time? Like, clients or employees?

Rachel Rodgers 26:33 Everybody.

Lewis Howes 26:33 Employees or-

Rachel Rodgers 26:34 Clients were wasting my time, team were wasting my time.

Lewis Howes 26:37 Mm.

Rachel Rodgers 26:37 Um, even family members, right? Like, I, I... my desk was, like, right in the front door. So, like, it's like the door is here-

Lewis Howes 26:43 Mm-hmm

Rachel Rodgers 26:43 ... my desk is right here. My husband would, like, be coming in and out. He's a stay-at-home dad at the time taking care of the kids. Um, and he just ran a tight ship with our household. It was amazing. Like, I had so much support in that way. Uh, but he would, like, every time he came through the door, wouldn't talk to me, interrupt me.

Lewis Howes 26:58 Yeah, you're like, "I gotta focus." Yeah, yeah.

Rachel Rodgers 26:59 Yes, exactly. It was like I didn't know how to create boundaries around my work time. Um, and I did eventually learn it. I started getting up at 4:00 AM 'cause I was like, I'd get up at 6:00 and these kids would... it's like they could tell.

Lewis Howes 27:11 Oh, man.

Rachel Rodgers 27:11 Like, they had a radar the moment [laughs] I woke up. So then I would get up at six. Like, I would be like, "Okay, I'm gonna beat them. I'm gonna get up at 5:30." Nope, still get up with me. 5:00. Nope. 4:30. Nope. 4:00 AM, and they k- stayed in their beds.

Lewis Howes 27:24 Wow.

Rachel Rodgers 27:24 So I was like, "Fine, I'm getting up at 4:00 AM every day then."

Lewis Howes 27:27 Wow.

Rachel Rodgers 27:27 So that's what I did for a while, just to find that quiet time so I could focus. Um, so those were... like, I had to learn those lessons, you know? And, and now with my clients, I try to teach them those lessons as early as possible. I wrote this book, 'cause it has some of those lessons in there, um, so that people don't have to spend three years figuring it out.

Lewis Howes 27:45 Yeah.

Rachel Rodgers 27:45 You know? [laughs]

Lewis Howes 27:46 [laughs] You know, I've, I'm, I'm a big believer that going through the process is the best way to learn, but there are also some things that we could learn from mentors or teachers-

Rachel Rodgers 27:55 Yes

Lewis Howes 27:55 ... ahead of time that could hopefully save us some time in some of our decisions that we waste time on.

Rachel Rodgers 28:00 Yes.

Lewis Howes 28:01 I still feel like even with that, we're still gonna learn things-

Rachel Rodgers 28:03 Oh, totally

Lewis Howes 28:03 ... the hard way in certain ways. But if you could go back to that, uh, 27 and, and say, "You know what? These are the three skills you need to learn in your first year of business," or before you launch-

Rachel Rodgers 28:13 Mm

Lewis Howes 28:13 ... that first year. Only three skills. Obviously, there'd be many.

Rachel Rodgers 28:17 Yes.

Lewis Howes 28:17 But what would be the three most important things to develop a millionaire mindset faster?

Rachel Rodgers 28:22 Yes. One, learn how to say no.

Lewis Howes 28:24 Mm.

Rachel Rodgers 28:25 Learn how to say no, and learn how to not feel responsible for other people's feelings, number one. [laughs] 'Cause I think especially as women, we are socialized to be nice, and that niceness is frittering away our dollars.

Lewis Howes 28:37 Mm.

Rachel Rodgers 28:37 You know? And so we have to stop being so nice all the time. And you know what? You're mad that I can't spend this extra time doing this extra thing for no money? Oh, well, be mad. [laughs] Like, that's okay. You can feel your feelings, and I'm gonna go over here and protect my time.

Lewis Howes 28:51 Mm-hmm.

Rachel Rodgers 28:52 So I think learning how to say no is a top priority. Um, I think the second thing is get a personal assistant, like, from day one.

Lewis Howes 29:01 Mm.

Rachel Rodgers 29:01 As soon as you possibly can. If you can afford to pay somebody 20 hours a week, uh, for 5 hours a week, like, as soon as that, you can eke out a part of your budget for that, absolutely do it. Because as soon as you start learning how to delegate to somebody else, how to explain something to somebody else-

Lewis Howes 29:18 Yep

Rachel Rodgers 29:18 ... you're gonna learn those leadership skills-

Lewis Howes 29:20 Mm

Rachel Rodgers 29:20 ... and then you'll be able to run a team later.

Lewis Howes 29:21 That's right.

Rachel Rodgers 29:22 You know? So the sooner you can start learning those skills of how to lead others, how to delegate to others, how to communicate, um, how to support the person that is working, you know, for your company, I think that is so, uh, crucial. So saying no, um, getting a personal assistant, and let's see. What is number three? God, there's so many. [laughs]

Lewis Howes 29:41 [laughs]

Rachel Rodgers 29:41 I think raise, double your prices-

Lewis Howes 29:43 Uh-huh

Rachel Rodgers 29:44 ... would be my number three. Like, whatever you think your price should be, double it. Because especially women, we so undervalue our services that we can afford to double it, and we'd probably still be undercharging.

Lewis Howes 29:55 Mm-hmm. And what if you're saying, "This is my price," say it's 5,000 for whatever you're doing, uh, and I've doubled it to 5,000, and then for a few months, no one's saying yes to this price. Do you then make concessions and discount because you're like, "Well, I gotta pay rent now. I gotta figure out how to-"

Rachel Rodgers 30:12 No, never

Lewis Howes 30:13 Never discount?

Rachel Rodgers 30:14 Never. So then-

Lewis Howes 30:15 But you're broke. What if you... No one's saying yes.

Rachel Rodgers 30:17 Yes.

Lewis Howes 30:17 You've gotten all these different audiences of people.

Rachel Rodgers 30:19 [laughs]

Lewis Howes 30:20 You're knocking on doors, you're making calls, you're following up, you're doing all these things. You feel like, "Nah, I don't need it," or, "It's too much."

Rachel Rodgers 30:25 Mm-hmm.

Lewis Howes 30:26 What do you say when someone says-

Rachel Rodgers 30:27 "I'm not dropping the price." [laughs]

Lewis Howes 30:29 So-

Rachel Rodgers 30:29 So-

Lewis Howes 30:30 I gotta pay my b- my, I gotta feed my babies.

Rachel Rodgers 30:32 Yes.

Lewis Howes 30:32 I gotta pay rent. I gotta do all these things. I got family I need to help.

Rachel Rodgers 30:36 So I think-

Lewis Howes 30:36 They rely on me

Rachel Rodgers 30:36 ... I think what happens, you gotta solve the real problem, right? Like, so if it's not selling, then either you don't believe in it-

Lewis Howes 30:43 Mm

Rachel Rodgers 30:43 ... or you're not describing it clearly so people can-

Lewis Howes 30:45 Mm

Rachel Rodgers 30:45 ... like, know what it is.

Lewis Howes 30:47 Or you're not showing the results you could get for someone.

Rachel Rodgers 30:49 Exactly. Maybe you're not good at these sales calls-

Lewis Howes 30:51 Mm

Rachel Rodgers 30:51 ... and you're like, a lot of people will do this. They'll get on a sales call, they'll have a whole conversation, explain, you know, hear the person out-

Lewis Howes 30:57 Mm-hmm

Rachel Rodgers 30:57 ... match the person's problem to a solution they have, and then, like, choke at the end and not ask for the business.

Lewis Howes 31:03 Right.

Rachel Rodgers 31:03 So it's like, get comfortable asking for the business, you know? Usually, when that's the case, there's a problem there with the entrepreneur that they're afraid of, and so they avoid solving that problem by dropping the price.

Lewis Howes 31:13 Mm.

Rachel Rodgers 31:14 And so I'm like, "No, no, no, keep the price right where it is and actually deal with whatever that challenge is that you are struggling to overcome."

Lewis Howes 31:20 What is that challenge usually for people?

Rachel Rodgers 31:22 I think it's being afraid to ask for the business, not marketing themselves, not putting themselves out there, right? And ask-

Lewis Howes 31:27 What is the inner feeling, though? What is the inner fear?

Rachel Rodgers 31:30 Of asking for the business?

Lewis Howes 31:31 Yes.

Rachel Rodgers 31:31 That somebody's gonna say no.

Lewis Howes 31:33 Oh.

Rachel Rodgers 31:33 I guess rejection. Nobody likes rejection, right? But the sooner you can get comfortable with rejection, like, you are free. That, that creates so much confidence, when you can be rejected a ton. And I feel like one of the best things that happened to me is when I was applying for a clerkship at the end of law school, and I just got rejection after... I mean, I applied to, like, 90 different judges. And then I also applied to a whole lot of law firms, got a lot of rejections there, right? It was super competitive. It was, like, the 2008 recession, right? They were hiring less people. I was not at the top of my class. Um, so it was like I just kept getting rejected. I mean, literally every day I would open my mailbox for, like, two months, and it was, like, three rejection [laughs] letters a day. And I'm like, "Awesome," right? Because I just got... At first it was, it hurt my feelings. But by the, by the second month-

Lewis Howes 32:19 [laughs] Like, "Ah."

Rachel Rodgers 32:20 ... I was like, "Oh, well."

Lewis Howes 32:21 Yeah, yeah.

Rachel Rodgers 32:21 "Keep it moving," right?

Lewis Howes 32:22 [laughs]

Rachel Rodgers 32:22 "And just figure it out." So I think that being rejected, learning how to get rejected and be okay with it, and it not make you fall apart, is one [laughs] of the best skills in the world.

Lewis Howes 32:34 What, what's the process of learning that skill of... Is it just facing rejection over and over and putting yourself out there, and then learning, "Okay, I'm still alive-"

Rachel Rodgers 32:43 Yes

Lewis Howes 32:43 ... "I'm still here," and...

Rachel Rodgers 32:44 Exactly. It's like Denzel said, "Act," right?

Lewis Howes 32:46 Uh-huh.

Rachel Rodgers 32:46 Get rejected. And there was, like, this thing going around that was, like, 100 noes, like, collecting 100 noes. So, like, the person was like, "You know what? My goal is to be rejected 100 times, collect 100 noes. So I'm gonna put myself out there enough, ask for something enough that I could be ha- denied," right? Have that many people say no. What you will learn along the journey is that there's gonna be people who say yes.

Lewis Howes 33:10 Yeah.

Rachel Rodgers 33:11 And so for every 20 or 25 rejections, you're gonna get a yes, right?

Lewis Howes 33:14 Mm-hmm.

Rachel Rodgers 33:15 Like, and there's so many stories about this, like The Alchemist by Paulo Coelho. You know that story-

Lewis Howes 33:19 Of course, yep

Rachel Rodgers 33:19 ... of, like, you know, how he was rejected, it was a complete failure, you know, [laughs] in Brazil, and then it got translated into English, and it's, like, one of the best-selling books of all time.

Lewis Howes 33:28 Mm-hmm.

Rachel Rodgers 33:28 And it is an [laughs] amazing book.

Lewis Howes 33:30 Yeah.

Rachel Rodgers 33:30 Can you imagine us not having that book, you know? [laughs]

Lewis Howes 33:33 It's an incredible book.

Rachel Rodgers 33:33 It's incredible. And it's like he just believed in it, and he, you know, kept pitching it. And when, when his publisher was like, "I'm not gonna print this anymore," he took it to another publisher-

Lewis Howes 33:42 Uh-huh

Rachel Rodgers 33:43 ... and just, like, believed, right? So there's something to be said about learning how to be rejected, continuing to have that tenacity, not letting it shake your belief in-

Lewis Howes 33:51 Mm-hmm

Rachel Rodgers 33:51 ... what you're here to do.

Lewis Howes 33:54 If someone wasn't raised around the language of money-

Rachel Rodgers 33:58 Mm

Lewis Howes 33:58 ... and they weren't in a, an environment or a household that spoke about it in a good way, maybe they said money, you know, rich people are, are mean or bad people, um, or their parents always got angry when they saw someone who had money on TV and-

Rachel Rodgers 34:13 Yes

Lewis Howes 34:13 ... associated wealth with a bad person.

Rachel Rodgers 34:17 Yes.

Lewis Howes 34:17 How do they break that mindset that not all wealthy people are bad people?

Rachel Rodgers 34:21 Yeah. Well, challenge that belief, right? The way that we change our thinking is to challenge those beliefs.

Lewis Howes 34:27 Mm-hmm.

Rachel Rodgers 34:27 So, like, literally write down the thing that you believe and then, you know, write down all the evidence that you can collect that tells you the opposite.

Lewis Howes 34:36 Mm.

Rachel Rodgers 34:36 Like, that's how we change our mindset, right? Um, you know, so if I'm telling myself I'm not smart, I can collect all the evidence, "Well, I graduated from law school."

Lewis Howes 34:45 Mm-hmm.

Rachel Rodgers 34:45 "I graduated from undergrad, uh, summa cum laude," right? [laughs] Like, a- a- actually, there's evidence that I am smart, you know what I mean? [laughs]

Lewis Howes 34:52 Right, right, right, right.

Rachel Rodgers 34:52 Let me, let me point that out. So I think it's this-

Lewis Howes 34:55 So it's being a lawyer of your life-

Rachel Rodgers 34:56 Yes

Lewis Howes 34:56 ... of that belief system.

Rachel Rodgers 34:58 Exactly.

Lewis Howes 34:58 Which is something you understand.

Rachel Rodgers 34:59 Collect, collect evidence to prove what you want to believe, right?

Lewis Howes 35:02 Mm-hmm.

Rachel Rodgers 35:02 And see if you can find out that it's true. Maybe it won't be, but I, you probably will find that it is, 'cause a lot of our thinking, it's just like, it's just something, it's a thought that was planted there in childhood or-

Lewis Howes 35:13 Mm-hmm

Rachel Rodgers 35:13 ... from whatever interactions we had that are a memorable moment that, that are, that are kinda stuck, right? And it's creating this, like, this neural pathway that we just keep walking every day, we just keep saying that to ourselves. And so the way we create a new pathway is we gotta start digging that path, right?

Lewis Howes 35:27 Mm.

Rachel Rodgers 35:27 To go a different direction. And the way you dig that path is start collecting evidence of the opposite. So look for examples of wealthy people who aren't, you know, trash humans, [laughs] right? Like-

Lewis Howes 35:39 Sure.

Rachel Rodgers 35:39 I hope that I'm an example, right?

Lewis Howes 35:40 Yeah.

Rachel Rodgers 35:41 Um, and that there are plenty of others out there. So, you know, try to challenge those, you know, just... And I think it's just societal views, it's things that we tell ourselves, I don't know why, maybe to make ourselves feel better for not trying to go after what we want.

Lewis Howes 35:55 Mm.

Rachel Rodgers 35:55 I don't know why we do it.

Lewis Howes 35:56 Right.

Rachel Rodgers 35:56 But we do it, and I think we can change it.

Lewis Howes 35:59 Yeah.

Rachel Rodgers 36:00 And I also think there's a different pathway, right? Like, I think there are issues that we experience a- as people of color, as queer people, as people living with a disability or chronic illness, that other people don't have to deal with. And so we might get advice that's like, "Oh, just do these steps. It's so easy," right? When it's like, oh, but we're dealing with I gotta take care of my mother as well. Like, I, when I make it, I also have to take care of all the family members who didn't make it, right, who need help now that they're-

Lewis Howes 36:25 Yeah

Rachel Rodgers 36:25 ... approaching retirement, right? Like, there's, there's issues that we have that- Typically straight white guys don't have, right? [laughs]

Lewis Howes 36:32 Yeah.

Rachel Rodgers 36:32 And so that's why I focus on this audience.

Lewis Howes 36:34 Yeah.

Rachel Rodgers 36:34 And it's also just who is attracted to my work as well.

Lewis Howes 36:37 Right. I think it's to know your worth in general.

Rachel Rodgers 36:40 Yes.

Lewis Howes 36:40 And that's, that's applied to everything in life. Like know your worth with your friends-

Rachel Rodgers 36:43 Yes

Lewis Howes 36:43 ... with your family, in your partnership, with your relationship.

Rachel Rodgers 36:46 Exactly.

Lewis Howes 36:47 Don't sell yourself short in any area of your life. And you've gotta learn to believe in yourself to do that, which goes back to step one for you, is-

Rachel Rodgers 36:53 Exactly

Lewis Howes 36:54 ... surround yourself with people who've done it, and then learn to believe in yourself.

Rachel Rodgers 36:57 Exactly, and that's what I was getting at, is the worthiness and the confidence. I think sometimes when, you know, when, like I, I... There's probably not a Black woman in America that hasn't worked in a workplace where she felt undervalued. And when you do that for a couple of years, you start to believe that your, your value is less. And so I think that-

Lewis Howes 37:15 Yeah

Rachel Rodgers 37:15 ... it's important that we have confidence, and it's important that we ask for the money, right?

Lewis Howes 37:19 Mm.

Rachel Rodgers 37:19 When we put ourselves out there, when we create work, that we charge for it.

Lewis Howes 37:23 Yes.

Rachel Rodgers 37:23 Right? And, um-

Lewis Howes 37:25 What if some-

Rachel Rodgers 37:25 ... demand that people recognize our value.

Lewis Howes 37:27 What if someone doesn't wanna pay it? They say, "Okay, I recognize the value, but that's not the value I'm willing to pay for, 'cause I don't want that value," or, "It's not a need in my business"-

Rachel Rodgers 37:35 Yeah

Lewis Howes 37:35 ... or whatever it might be.

Rachel Rodgers 37:35 So goodbye to that person-

Lewis Howes 37:37 And find the next person

Rachel Rodgers 37:37 ... and on to the next.

Lewis Howes 37:38 Yeah.

Rachel Rodgers 37:38 Exactly. Find who your audience is.

Lewis Howes 37:40 Right.

Rachel Rodgers 37:40 And I think, you know, you gotta have... You gotta put it out there to get those nos, to be like, "Oh, these aren't my people. Let me actually-

Lewis Howes 37:45 Right

Rachel Rodgers 37:45 ... write my copy or present my offer in a way that makes them go away"

Lewis Howes 37:48 Exactly

Rachel Rodgers 37:49 ... and only attracts the people that are really my people, right?

Lewis Howes 37:52 Mm, that makes sense.

Rachel Rodgers 37:53 Yeah.

Lewis Howes 37:53 And how does someone learn to feel worthy when they're broke?

Rachel Rodgers 37:57 Yes. Well, you have to recognize that you are inherently worthy. I was just as valuable as I am today, you know, 15 years ago-

Lewis Howes 38:06 But how do you believe that?

Rachel Rodgers 38:06 ... 20 years ago

Lewis Howes 38:07 When then the bank account-

Rachel Rodgers 38:09 Yes

Lewis Howes 38:09 ... and the relationship accounts don't show that value?

Rachel Rodgers 38:13 Yes. Well, I think, again, w- it's environment, right?

Lewis Howes 38:17 Mm.

Rachel Rodgers 38:17 Like the way that I became a badass woman was surrounding [laughs] myself with other badass women, right? Like starting to spend time with people who have confidence and believed in themselves-

Lewis Howes 38:28 Mm

Rachel Rodgers 38:28 ... and starting to s- and what they saw in me, right? Like realizing what other people see in me that I don't see in myself.

Lewis Howes 38:35 Mm-hmm.

Rachel Rodgers 38:35 And you need that reflection back, and that's why you gotta surround yourself. I mean, I have to tell you, like I've been spending time in LA this week with, you know, Black women entrepreneurs that I talk to on Twitter all the time. And, like, listen, the way that they will hype you up, [laughs] you know?

Lewis Howes 38:50 [laughs] "You got this, girl."

Rachel Rodgers 38:51 Exactly.

Lewis Howes 38:51 "Yeah, let's go."

Rachel Rodgers 38:52 We, we hype each other up, and, and that's so important.

Lewis Howes 38:55 Yeah.

Rachel Rodgers 38:55 You need that, and I've had that since I was a kid.

Lewis Howes 38:57 Yeah.

Rachel Rodgers 38:57 Like I had friends who would hype me up, you know?

Lewis Howes 38:59 Yeah, yeah, yeah.

Rachel Rodgers 38:59 Um, so I think we need that in our lives, and we gotta put ourselves out there. Um, be a friend first, right? And then you'll find that squad, and you'll start to-

Lewis Howes 39:08 Mm-hmm

Rachel Rodgers 39:08 ... create that community around yourself. And then there's no way you can't believe it when you're surrounded by people who are constantly reflecting it back to you.

Lewis Howes 39:16 I love that approach, is surrounding yourself with people that will hype people up or that are inspiring, that have already done that. And I've also heard people say, "When I'm in those rooms, I feel like an imposter."

Rachel Rodgers 39:26 Yes.

Lewis Howes 39:26 "I feel like all these incredible women," you know, if I was a woman in these w- rooms of women-

Rachel Rodgers 39:30 [laughs]

Lewis Howes 39:31 ... uh, for this example, "but these women have done incredible things. How am I gonna be able to... Why should I... I shouldn't be in this room"-

Rachel Rodgers 39:37 Yeah

Lewis Howes 39:37 ... "because they're all amazing. You know, starting to downplay my talents because they're all at a, at a different level or have more experience or have their careers or are financially successful." How does someone get over the imposter syndrome-

Rachel Rodgers 39:50 Yeah

Lewis Howes 39:50 ... of being in the room when they are the, whatever label they wanna call it, the, the least successful financially, the least intelligent, the least experienced, whatever they wanna say to themselves-

Rachel Rodgers 40:00 Yes

Lewis Howes 40:01 ... "I shouldn't be here"-

Rachel Rodgers 40:02 Yeah

Lewis Howes 40:02 ... " 'cause I don't have X." How can they overcome the imposter syndrome?

Rachel Rodgers 40:07 Well, I think it's a process, right? It doesn't happen overnight. I think sometimes we think like, "Just think better thoughts," and it's like, that's lovely, but that's [laughs] not working for me. [laughs] You know? I think, first of all, challenge that belief when it comes into your head. When you have that thought, "Oh, I'm going into this room and I'm excited about it, but I'm intimidated because I don't know that I belong there." And really just check the receipts. Do- is- are you sure you don't belong there? Like think about-

Lewis Howes 40:30 Mm

Rachel Rodgers 40:30 ... who you are as a person. What do you have to offer the world? What is the value that you bring?

Lewis Howes 40:35 Yeah.

Rachel Rodgers 40:35 Um, what do people ask you to do that, you know, is valuable, right? What do they ask you advice on? You really just start to check your own receipts to see, like, really, is that true? Because usually the people who have imposter syndrome are people who have a very long and impressive resume, right?

Lewis Howes 40:50 Mm.

Rachel Rodgers 40:51 And I wrote about in my book how Maya Angelou and Michelle Obama, like these are people who have imposter syndrome. Like way far into their career, they felt like they didn't belong in certain rooms.

Lewis Howes 41:00 Really?

Rachel Rodgers 41:01 Right? Exactly. It's like, what? That makes no sense. And it's true for us as well. Like we'll think that we're not valuable, or we'll have that same imposter syndrome, and other people are like, "Are you crazy? Like, you're amazing." You know?

Lewis Howes 41:13 Yeah.

Rachel Rodgers 41:13 Like, "You're buggin'." [laughs] So I think, um, if-

Lewis Howes 41:17 If someone's in the room, and they're, they're, they're gonna remember this conversation that you share here, and they're about to be in a room with a bunch of powerhouses, whatever, individuals-

Rachel Rodgers 41:26 Yes

Lewis Howes 41:26 ... that they wanna be around, and they're like, "This is the first time I've been around this group of people. I'm terrified. I'm nervous."

Rachel Rodgers 41:32 Yes.

Lewis Howes 41:32 What can they remind themselves in that moment when the Oprah of their industry is talking to them and they are potentially a nobody in that space?

Rachel Rodgers 41:41 Yes.

Lewis Howes 41:41 They're on their way up or whatever. What can they remind themselves?

Rachel Rodgers 41:44 I would say, like ask, they should ask themselves, "What do I love about myself?" Right? Like, "I'm funny," you know? Um, "I'm smart. I'm strategic. You know, I have great fashion sense," right? [laughs] Like whatever it is. What is something that you love about yourself? And think about how you're bringing that energy to that room.

Lewis Howes 42:02 Mm-hmm.

Rachel Rodgers 42:03 Right? And just recognize that that is a lie. And it is a practice. I used to be such a mean girl to myself in my head-

Lewis Howes 42:09 Really?

Rachel Rodgers 42:09 ... every single day.

Lewis Howes 42:10 What would you say?

Rachel Rodgers 42:11 I, I said that I was not smart, stupid, you know? I said that, like, "I can't figure this out. Um, I'm bad at business."

Lewis Howes 42:19 Mm.

Rachel Rodgers 42:20 "I'm not good at making money. Um, I'm not good at practicing law," which is what I did before, you know, my current business. Like I would te- I would, "I'm a bad mother." Like, I mean-

Lewis Howes 42:30 Mm

Rachel Rodgers 42:30 ... I said every cruel thing that I could possibly say.

Lewis Howes 42:33 What did that do for you?

Rachel Rodgers 42:35 I mean, it made me feel bad, right? Like, it made me feel bad and it made me wanna go get under the covers for three days. And sometimes I did, right? And then I would get my ass back up and go back, [laughs] go back to work, [laughs] because I had to, because I had kids to support. But I would do that, too. And what helped is meeting women who believe in themselves.

Lewis Howes 42:53 Mm.

Rachel Rodgers 42:53 And just being around that energy, they... It just, like, that energy's gonna bring you along. 'Cause I think sometimes we think, like, "Oh, I have to do all of this in my head, and once I fix it in my head, then I can go be around people." No, no, no. You need to go be around people-

Lewis Howes 43:04 Mm-hmm

Rachel Rodgers 43:04 ... 'cause that's what's gonna fix it, you know? Being in that environment.

Lewis Howes 43:07 Yeah.

Rachel Rodgers 43:07 Our community, our environment, it affects us so much.

Lewis Howes 43:10 It does.

Rachel Rodgers 43:11 So it's so crucially important to be surrounded by positive people who believe in possibility.

Lewis Howes 43:17 Yes.

Rachel Rodgers 43:17 You know? So that's what I would say. And when I'm going to enter rooms, like, I go into intimidating rooms all the time, and I think now I just think, like, "I'm just gonna be myself. And if myself isn't good enough in this room, then I don't wanna be in this room."

Lewis Howes 43:31 Right.

Rachel Rodgers 43:31 Next. [laughs]

Lewis Howes 43:32 Yeah.

Rachel Rodgers 43:32 You know? [laughs]

Lewis Howes 43:33 Next room. Next room.

Rachel Rodgers 43:35 [laughs]

Lewis Howes 43:35 And do you think money buys us happiness?

Rachel Rodgers 43:38 No. [laughs] I think... But I think it buys a roof over your head, which is happiness, right? [laughs] Like... So, you know, sometimes people, when people talk about, like, money doesn't matter or whatever, I'm not beholden to money, or they think it's a moral high ground to act like, "I don't care about money," right? So, like, you feel better about yourself 'cause you don't care about money, and your nose is in the air 'cause you don't care about money. I'm just like, this is a person who has never been poor. You know? Like-

Lewis Howes 44:03 Mm

Rachel Rodgers 44:03 ... this is a person who is not aware of the real economic situation for so many people. And I think if you are aware of that, then you recognize that money is a powerful tool that enables you to take care of and feed your children.

Lewis Howes 44:17 Mm.

Rachel Rodgers 44:17 That enables you to house yourself, right? Like, just, like, the baseline. I have been in a place for many years, my family was and then I was as a young adult, where, like, I, you know, my, like, electric went out, right? And we didn't have lights for a week until my mom got paid again. Or where, you know, we didn't have food, or we were on food stamps and I'd be embarrassed to use it, and there's only certain things we could buy with it, right? Like, I've had that real financial insecurity. And I think-

Lewis Howes 44:47 Mm

Rachel Rodgers 44:47 ... anybody who has had that understands that money is very important. [laughs] Like, the idea that it's-

Lewis Howes 44:51 Right

Rachel Rodgers 44:51 ... not important is complete nonsense, you know? And it's like, that's a reason you're telling yourself that. I would love to coach that person and dig into, why are you telling yourself... Why do you have that story? What is it doing for you, right? Because the reality is, is that money is an important tool in the way that our society is organized today. And so we need it, and, you know, we need to learn how to get it, and that's exactly why I do what I do, to teach people how to get it-

Lewis Howes 45:14 Yeah

Rachel Rodgers 45:14 ... and show them that it is possible for you to create it on your own.

Lewis Howes 45:18 Yeah.

Rachel Rodgers 45:18 You know? Um, but yes, this idea that, like, you know, money's not important or whatever, money is for bad people, I'm like, look, money pays the bills.

Lewis Howes 45:27 Yeah.

Rachel Rodgers 45:27 [laughs] Okay? Like, let's get back to basics here, all right? I think y'all are forgetting something. And then once you have that baseline level of security, you can decide, do I want more? And if I do, how much more? And here's what I say all the time. You know, when people are like, "Well, how much is enough," right? "You're a millionaire" or your business is making X amount of money. Like, isn't that enough? Why do you still strive for more? And I tell them, "Because I am Black." [laughs] Because there is a huge wealth chasm in this country, and as long as my people need money, I'm going... And I'm good at earning it, I'm gonna keep earning it, and then put it where I think it belongs.

Lewis Howes 46:00 Right.

Rachel Rodgers 46:00 Right? Um, so there's a certain amount of security I want for myself and my children. And frankly, I feel like I have that at this stage.

Lewis Howes 46:06 Mm-hmm.

Rachel Rodgers 46:06 So I've done that part. So it's like, check. And so now the next thing to do is how can I spread it around?

Lewis Howes 46:11 Yeah.

Rachel Rodgers 46:11 You know? Like, how can I have it be making change for people and change people's lives? 'Cause I recognize money changes lives.

Lewis Howes 46:18 Mm-hmm.

Rachel Rodgers 46:18 Um, and so I think it's important to just recognize money is, is neutral. It's not positive or negative. It's a tool, and it's how we use that tool that determines whether something bad happens or something-

Lewis Howes 46:30 Yes

Rachel Rodgers 46:30 ... evil happens, or if you have a positive goal with it.

Lewis Howes 46:34 Yeah. Have you let- have you met a lot of, uh, millionaires who are unhappy?

Rachel Rodgers 46:39 I've met millionaires who are unhappy. Um, and I know plenty of happy ones. [laughs]

Lewis Howes 46:44 Right, exactly.

Rachel Rodgers 46:44 You know what I mean? Like, I think there's both. And I think it's like... I mean, here's the benefit, right? If you're a millionaire and you're unhappy, you could probably go purchase some therapy.

Lewis Howes 46:54 Mm-hmm.

Rachel Rodgers 46:54 You can maybe go to a retreat, right? Like, you can spend some money on-

Lewis Howes 46:57 Take some time off.

Rachel Rodgers 46:58 Right.

Lewis Howes 46:58 Yeah, yeah.

Rachel Rodgers 46:59 You can spend some money on figuring out how to solve that problem.

Lewis Howes 47:02 Mm-hmm.

Rachel Rodgers 47:02 Um, I don't think it's money in itself that's making them miserable.

Lewis Howes 47:05 Really?

Rachel Rodgers 47:06 You know? Maybe it could be, but maybe it's just because they're choosing to make it their master instead of really-

Lewis Howes 47:10 Mm

Rachel Rodgers 47:10 ... leading their own lives and directing their own lives.

Lewis Howes 47:12 They're, yeah.

Rachel Rodgers 47:13 Like you were saying, right? Like, living in LA, right? Everybody's got a Ferrari or a Lamborghini or something, and you got a scooter, right? [laughs]

Lewis Howes 47:18 I drive a scooter. Scoot down the street with a smile on my face.

Rachel Rodgers 47:21 [laughs]

Lewis Howes 47:22 Wave at the guys in the Ferrari.

Rachel Rodgers 47:23 [laughs]

Lewis Howes 47:24 Like, "I want what that guy has." You know, it's like... [laughs]

Rachel Rodgers 47:27 Yes, but see, that's where we get into trouble, is if we're like-

Lewis Howes 47:29 Mm

Rachel Rodgers 47:29 ... "Oh, because somebody else has it, I have to have it."

Lewis Howes 47:32 Mm.

Rachel Rodgers 47:32 Like, do you want it?

Lewis Howes 47:33 No.

Rachel Rodgers 47:33 Is that something that you even care about? You know?

Lewis Howes 47:36 Oh, want, want something because you want it, not because you're trying to impress someone else-

Rachel Rodgers 47:40 Right

Lewis Howes 47:40 ... or show off or-

Rachel Rodgers 47:41 Or you think you should want it

Lewis Howes 47:42 ... keep up. Yeah. Or, or because your friends have it, you're supposed to buy it.

Rachel Rodgers 47:45 Yes.

Lewis Howes 47:46 Dude, because I was, um, I was with a friend recently, and he bought this, like, I don't know, 40 or $50,000 souped-up, like, ATV type of thing, like a four-wheeler thing-

Rachel Rodgers 47:56 Wow. [laughs]

Lewis Howes 47:56 ... with, like, the music, the front... But it's, like, $40,000 ATV thing. He's like, "I got it 'cause a friend had one and I thought it'd be cool. I was doing it to, like, celebrate a big launch I had."

Rachel Rodgers 48:07 Yeah.

Lewis Howes 48:07 "So I wanted to buy myself something. I bought this, and I've used it three times in a year."

Rachel Rodgers 48:11 Mm.

Lewis Howes 48:11 He's like, "It wore off after the first couple times."

Rachel Rodgers 48:14 Yeah.

Lewis Howes 48:14 "And it just sits in my garage." So I think, so if you're gonna celebrate and buy something, that's one thing. But if you're gonna buy things to try to impress or keep up with your friends, just know what you're doing it for.

Rachel Rodgers 48:24 Yes.

Lewis Howes 48:24 You may not use that thing.

Rachel Rodgers 48:25 Yeah.

Lewis Howes 48:25 And that money could've been invested in something else or, or-

Rachel Rodgers 48:28 Someone else

Lewis Howes 48:29 ... someone else or whatever.

Rachel Rodgers 48:31 Yes. Yes.

Lewis Howes 48:31 So-

Rachel Rodgers 48:32 And I think we're gonna have starts and stops like that where-

Lewis Howes 48:34 Yeah

Rachel Rodgers 48:34 ... where we think we want something, and then-

Lewis Howes 48:35 Yeah

Rachel Rodgers 48:35 ... you get it and you're like, "Actually-

Lewis Howes 48:36 "I don't want this"

Rachel Rodgers 48:37 ... I've learned that I don't care about this."

Lewis Howes 48:38 Yeah.

Rachel Rodgers 48:38 My husband loves cars. I don't really care about cars.

Lewis Howes 48:41 Oh, neither do I.

Rachel Rodgers 48:41 I just wanna be comfortable and get where I'm going. [laughs]

Lewis Howes 48:42 Me too. Me too.

Rachel Rodgers 48:44 Um, but my husband loves cars. And, like, he, he lights up and he gets so excited. He loves to tinker with them and all of that. And so I'm like, "Awesome. Have cars, because you love cars," right? And, like, I, what I love is, you know, we have horses, which, you know, if you wanna lose a lot of money, buy horses. [laughs]

Lewis Howes 49:01 Man, the upkeep every month on that is Probably five grand a month just to maintain a horse.

Rachel Rodgers 49:06 Yes. I mean, we have a full-time person who takes care of our-

Lewis Howes 49:09 Exactly

Rachel Rodgers 49:09 ... horses. Um, but when I see, like, my Black children in an equestrian world where, like, it's literally 98% white-

Lewis Howes 49:17 Mm. Sure

Rachel Rodgers 49:17 ... wealthy white.

Lewis Howes 49:18 Yes.

Rachel Rodgers 49:18 You know? And so, like, watching my Black children ride their horses on their ranch, I'm like, "I will pay."

Lewis Howes 49:24 It's cool.

Rachel Rodgers 49:24 I, I'm happy to pay it.

Lewis Howes 49:25 Yeah.

Rachel Rodgers 49:26 Brings me great joy, and it brings them joy, you know? And they also are learning... One of my favorite things about it is that they have to groom them.

Lewis Howes 49:33 Mm, that's good.

Rachel Rodgers 49:34 Um, the barn manager, they, makes them go up there twice a week and they've gotta muck the stalls and-

Lewis Howes 49:38 Mm

Rachel Rodgers 49:38 ... take care of the horses, and I feel like it's hopefully teaching them not to be spoiled. I didn't have that problem when I was a kid 'cause we [laughs] had money. My parents couldn't spoil me.

Lewis Howes 49:45 Yeah, yeah.

Rachel Rodgers 49:46 But I do have that problem with them, so.

Lewis Howes 49:48 Yeah. Well, well, any kids with horses are spoiled already.

Rachel Rodgers 49:51 [laughs] Exactly.

Lewis Howes 49:53 So you have to teach them hard work-

Rachel Rodgers 49:55 Yes

Lewis Howes 49:55 ... in that process.

Rachel Rodgers 49:56 Yes, exactly.

Lewis Howes 49:57 Yeah, yeah.

Rachel Rodgers 49:57 And so I like them doing manual labor.

Lewis Howes 49:59 Yeah, yeah. Cool.

Rachel Rodgers 49:59 And I like when they're like, "I don't wanna do it today." I'm like, "Guess what? That horse still needs to get taken care of today."

Lewis Howes 50:04 Yeah, yeah.

Rachel Rodgers 50:04 "So you gotta get up there and go do it whether you want to or not."

Lewis Howes 50:07 That's good.

Rachel Rodgers 50:07 So it's, it's good. It teaches them good lessons.

Lewis Howes 50:09 Absolutely.

Rachel Rodgers 50:10 But it, it brings a lot of joy to us, and it's an, it's... The horses provide an experience to us every day-

Lewis Howes 50:14 Of course, yeah

Rachel Rodgers 50:15 ... that is so valuable. So I, you know, but it's also possible I could've bought a horse 'cause I thought I wanted one and then realized I don't.

Lewis Howes 50:21 Mm-hmm.

Rachel Rodgers 50:21 And then that's okay. Sell it and figure out what you do want. You know? [laughs]

Lewis Howes 50:26 Yeah.

Rachel Rodgers 50:26 Don't just build a big house 'cause other people have a big house. Like, build a house 'cause-

Lewis Howes 50:30 Right. 'Cause you want it

Rachel Rodgers 50:30 ... right.

Lewis Howes 50:31 Yeah.

Rachel Rodgers 50:31 Like, I, I do have a large house, and I have it because I love having people over, so we invite people all the time-

Lewis Howes 50:37 Mm

Rachel Rodgers 50:37 ... and have big parties, and it's amazing. And it's like that being together is how I celebrate, you know?

Lewis Howes 50:43 Mm-hmm. Yeah, I think you'll regret decisions m- more often than not when you do something 'cause you think you're supposed to do it.

Rachel Rodgers 50:49 Oh, yeah.

Lewis Howes 50:50 Like, I live in an apartment still. I've never bought a home. I've invested in real estate-

Rachel Rodgers 50:54 Yeah

Lewis Howes 50:54 ... but I've never bought a home, 'cause for me, that doesn't excite me.

Rachel Rodgers 50:56 Yes.

Lewis Howes 50:56 Having a property and then spending 1,500 a month on the pool and the landscaping and the management and the taxes and all these things, and the roof leaking, I'm like, "That doesn't excite me," like-

Rachel Rodgers 51:05 [laughs]

Lewis Howes 51:05 ... that idea. Investing in real estate where someone else manages it excites me-

Rachel Rodgers 51:10 Right

Lewis Howes 51:10 ... 'cause I'm not doing that work.

Rachel Rodgers 51:12 Right.

Lewis Howes 51:12 And I'd rather put my effort on serving humanity and-

Rachel Rodgers 51:15 Yes

Lewis Howes 51:15 ... doing the things that I'm skilled at and not 10 hours a week on a house that, you know... Obviously I'd hire someone to manage it, but it's still, I'm thinking about it, right?

Rachel Rodgers 51:22 Yes.

Lewis Howes 51:23 And, and-

Rachel Rodgers 51:24 I totally get that

Lewis Howes 51:24 ... I'm 38 and I don't have a house, and most people might be thinking, "What are you doing?"

Rachel Rodgers 51:27 [laughs] Yeah.

Lewis Howes 51:28 You're like, "What are you doing with your life, Lewis? You should be owning a house."

Rachel Rodgers 51:30 Right.

Lewis Howes 51:31 Like, "Why, why are you not doing this?" And, uh, I just see it differently.

Rachel Rodgers 51:34 Yes.

Lewis Howes 51:35 And maybe in the next year or two I'll say, "You know what? I want a yard, I want a space, and I'm down for this for this season of my life" but I haven't been up until now, and I don't wanna make decisions because other people are telling me to do it-

Rachel Rodgers 51:45 Yes

Lewis Howes 51:46 ... unless I feel called to do something.

Rachel Rodgers 51:48 Exactly.

Lewis Howes 51:49 And so, you know, I may be right or wrong, but at least I feel at peace.

Rachel Rodgers 51:52 I totally, I-

Lewis Howes 51:53 You know what I mean? [laughs]

Rachel Rodgers 51:53 You gotta be willing to, like, separate from the pack and-

Lewis Howes 51:56 Absolutely

Rachel Rodgers 51:57 ... you know, figure out what your path is.

Lewis Howes 51:59 Yeah.

Rachel Rodgers 51:59 And it's cool 'cause when you do that too, you inspire other people to be themselves, you know. Like, I was talking earlier about Arlan Hamilton, and, you know, she's, like, this amazing VC, obviously a millionaire, and she wears, like, hoodies and, like-

Lewis Howes 52:14 Yeah

Rachel Rodgers 52:14 ... everywhere she goes. And she's like, "I refuse to get dressed," 'cause she doesn't want to.

Lewis Howes 52:18 Yeah.

Rachel Rodgers 52:18 And, like, just being around her in her hoodie frees me to be like, "I do wanna get dressed up," so like, I am. [laughs] Right?

Lewis Howes 52:25 Yeah. Right, right.

Rachel Rodgers 52:25 Like, I'm not gonna ask what's the dress code. I'm just gonna wear what I wanna wear, right? Like, so I think it's so important when you are living the way that you wanna live and doing things differently, it, it frees other people-

Lewis Howes 52:36 Yeah

Rachel Rodgers 52:36 ... you know, to do the same.

Lewis Howes 52:39 What about your, you have f- uh, four kids, right?

Rachel Rodgers 52:41 Yes.

Lewis Howes 52:42 Four kids. What are the age ranges?

Rachel Rodgers 52:44 I have a 21-year-old.

Lewis Howes 52:45 Okay.

Rachel Rodgers 52:46 And then a, uh, nine-year-old, she's gonna be 10 th- later this week, so she's about to be 10.

Lewis Howes 52:51 All right.

Rachel Rodgers 52:52 Eight-year-old and a three-year-old.

Lewis Howes 52:54 Get a new horse for their birthday.

Rachel Rodgers 52:55 [laughs] She-

Lewis Howes 52:57 10-year-old get a new horse.

Rachel Rodgers 52:58 She is having an equestrian birthday party, but-

Lewis Howes 53:00 Oh, that's cool

Rachel Rodgers 53:00 ... she's not getting a new horse. [laughs]

Lewis Howes 53:04 Yeah. What are the, uh, the main themes that you teach your kids about money from all these different age ranges? You know, if you could share three things that you teach them consistently at home.

Rachel Rodgers 53:16 Yes.

Lewis Howes 53:17 Whether it be a simple or, you know, profound principle, what are those three things that you talk about on a consistent basis-

Rachel Rodgers 53:22 Yes

Lewis Howes 53:22 ... with all of them?

Rachel Rodgers 53:23 Well, I te- I like to teach them about consistency, which I think is about money.

Lewis Howes 53:28 It's huge.

Rachel Rodgers 53:28 Yeah. Like, you gotta show up and you gotta do this every day. And it's like-

Lewis Howes 53:32 Yeah

Rachel Rodgers 53:32 ... you did it for five days, and they're like, "Well, I did it for five days. Why can't I get credit for that?" And it's like, that's great, but this is the kinda thing where you gotta show up.

Lewis Howes 53:40 Yeah.

Rachel Rodgers 53:40 So teaching them really about habits and about, like, having a work ethic. If you want something, are you willing to put some sweat equity into it so you can have it? Um-

Lewis Howes 53:49 Yep

Rachel Rodgers 53:50 ... and so teaching them that I think is a core money principle.

Lewis Howes 53:53 Yes.

Rachel Rodgers 53:54 And then I also teach them about business. I teach them about entrepreneurship, that you can create a business and sell anything and, um, you know, make money from your own creative ideas, so I want them to learn that. So my daughter is always, like, making books or she's making-

Lewis Howes 54:09 Mm-hmm

Rachel Rodgers 54:09 ... like, little gifts for people for their birthdays, and-

Lewis Howes 54:11 That's cool

Rachel Rodgers 54:11 ... she's an artist, and-

Lewis Howes 54:13 That's cool

Rachel Rodgers 54:13 ... I wanna teach her to value her art. This beautiful thing that you created, we can hang it on the wall, and that adds value to people's lives, so you can charge for that.

Lewis Howes 54:20 Mm-hmm.

Rachel Rodgers 54:20 So just having those conversations and showing them even things that they're creating now have value.

Lewis Howes 54:25 Absolutely.

Rachel Rodgers 54:26 Um, or things that they're willing to do. Like, my son is, like, very techy, so I'm like, "Oh, the remote's not working."

Lewis Howes 54:31 [laughs]

Rachel Rodgers 54:32 My eight-year-old [laughs] and he's been doing this since he was six, he's like, "Mom, just give it to me."

Lewis Howes 54:35 Oh.

Rachel Rodgers 54:36 [laughs] He, like, fixes it all. Um, so you know, he has that natural skill. Like, it's obviously a natural skill. Who taught him? I didn't teach him nothing.

Lewis Howes 54:43 Yeah.

Rachel Rodgers 54:44 [laughs] I, I don't even know how to do it.

Lewis Howes 54:45 Yeah.

Rachel Rodgers 54:46 Um, maybe he learned by watching my husband. I don't know. But, you know, I want him to see that, like, oh, your ability to come in and fix that for somebody who doesn't know how, that, that adds value. That's, that's-

Lewis Howes 54:56 Mm-hmm

Rachel Rodgers 54:56 ... something you could charge for if you wanted to in the future.

Lewis Howes 54:58 Yeah.

Rachel Rodgers 54:58 Um, so, like, teaching them that and asking them to do things and telling them like, you know- If you do X, Y, Z, I will pay you. So I negotiate a lot with them.

Lewis Howes 55:07 Mm.

Rachel Rodgers 55:07 So, you know, it's like we did this family photo shoot, um, recently, and my son absolutely hates taking photos. He hates getting dressed up. He hates the whole production of it. And so I'm like, "Okay, so you do this for Mommy, and you make sure you smile in all of the pictures."

Lewis Howes 55:21 Amen.

Rachel Rodgers 55:22 "And you have to like not... Like untuck your shirt [laughs] and do all those things. And if you do all of that, then I'm going to allow you to play video games tonight for two hours on a weekday."

Lewis Howes 55:32 Wow.

Rachel Rodgers 55:33 So like-

Lewis Howes 55:33 That's big time

Rachel Rodgers 55:34 ... deal.

Lewis Howes 55:34 Yeah. [laughs]

Rachel Rodgers 55:34 And then we shake hands. And then there are times where he tries to go back on the deal, you know? And he makes deals with his sister too. [laughs] They... And like he'll try to go back on it, and I'm like, "No, no, no, no, no. If you make a deal, you have to stick to it."

Lewis Howes 55:46 Ah.

Rachel Rodgers 55:46 You know? So making sure that he understands that. If you say... If you give your word on something, you have to back that up.

Lewis Howes 55:51 Yes.

Rachel Rodgers 55:52 Um, so, so teaching them that, I guess, is another part of the, the money story. And I like them to just... It's so funny. My husband and I, we'll go for walks or whatever, and we'll be talking about business, 'cause my husband's a CFO. Um, and so we're having business conversations, and my daughter's hanging out with us listening in. And my husband's like, "Yep, you stay right there and listen to all of this, you know? Soak it in." Um, so teaching her just about-

Lewis Howes 56:16 Yeah, that's good

Rachel Rodgers 56:16 ... like the different strategies that we, we try and, you know, marketing moves we're making or whatever, different investments that we're making and why we're doing it, um, and explaining that to her, willing to have that conversation. You know, like we bought a beach house. Let's talk about how, you know, we're only gonna use it for the summer, but we're gonna rent it out during the other-

Lewis Howes 56:35 Mm

Rachel Rodgers 56:35 ... parts of the year, and that's gonna cover the cost of what we're paying for the summer or like what we're paying for it all year long. Um, so this is the strategy. And explaining it to her so she can start to see. And it's like it's repetition, right? It's us having those conversations over and over again over time.

Lewis Howes 56:50 Sure.

Rachel Rodgers 56:50 Um, and there's something about the eldest daughter. I don't know what it is, but she's gonna be running this whole empire. [laughs]

Lewis Howes 56:57 [laughs] That's great.

Rachel Rodgers 56:57 I can already tell. [laughs]

Lewis Howes 56:59 That's great. That's funny. What do you think is the difference between, um, a rich mindset and a poor mindset?

Rachel Rodgers 57:07 Yeah. Well, I think it's just about seeing opportunity and feeling expansive and-

Lewis Howes 57:14 Yeah

Rachel Rodgers 57:14 ... seeing abundance versus seeing everything as small and not possible. And like does it cut off your opportunities, or does it create opportunity for you?

Lewis Howes 57:23 Mm-hmm.

Rachel Rodgers 57:23 You know?

Lewis Howes 57:23 Yeah.

Rachel Rodgers 57:24 Um, so I think that's, that's the difference, right? And just making decisions that are going to create more abundance in your life. And sometimes it's the opposite of what personal finance people say, right? Like personal finance people are always like, "Budget, budget, budget. Budget is king. Budget is ruler," right? Like, "You are beholden to the budget."

Lewis Howes 57:41 Yes.

Rachel Rodgers 57:41 "No, nothing else rules. Um, never go outside the budget," blah, blah, blah, right? And it's... I think it's more than that. I don't think it's just about... Money is about, yes, you, you have a balance sheet. You do math. [laughs] Money is math as well. But it's also feeling, right?

Lewis Howes 57:57 Mm-hmm.

Rachel Rodgers 57:57 So like the advice that's always given to women about like, "Don't... Stop buying lattes, stop buying shoes, cut coupons," it's like that doesn't make me feel rich.

Lewis Howes 58:07 Mm.

Rachel Rodgers 58:07 That doesn't make me feel abundant or feel wealthy. It makes me feel broke if I can't afford to buy a coffee when I have a good job and I work hard every day, you know?

Lewis Howes 58:16 Sure.

Rachel Rodgers 58:16 Um, so what does make me f- if I... But if I buy a latte every day, and that makes me feel fabulous as I sit and drink my latte and think-

Lewis Howes 58:23 Yeah

Rachel Rodgers 58:24 ... about whatever it is that I'm thinking about, when I have that feeling, I'm, I'm more likely to create things that will add value to the world and get me paid, you know?

Lewis Howes 58:32 You're more excited, passionate, abundant feeling-

Rachel Rodgers 58:35 Yes

Lewis Howes 58:35 ... energetic, and that energy attracts-

Rachel Rodgers 58:38 Yes

Lewis Howes 58:38 ... opportunities.

Rachel Rodgers 58:39 That's right.

Lewis Howes 58:39 So do the things that bring you joy.

Rachel Rodgers 58:41 Yes. And I'm not saying like, "Oh, go buy a Lamborghini," you know? [laughs] If you don't have Lamborghini money, right? Um, I'm not saying do that, but like how can you find ways to feel abundant every day? And it's not just that. It's like, you know, I was staying at a place, it was not an expensive place, in Laguna a couple of weeks ago, um, or sorry, a couple of days ago. And, you know, it's like not a fancy room at all, but it had this gorgeous ocean view. And I listened to the ocean as I fell asleep.

Lewis Howes 59:07 Mm.

Rachel Rodgers 59:07 Like, that is abundance, right? And I went for a run like along the beach. That was amazing, and it cost me nothing to go for that run. You know what I mean? [laughs]

Lewis Howes 59:15 Yeah, yeah, yeah.

Rachel Rodgers 59:16 So it's like w- sometimes it's just sitting outside and petting your cat and being in the sun and taking a few minutes for yourself makes you feel abundant.

Lewis Howes 59:24 Mm.

Rachel Rodgers 59:24 So it's not always dollars, but finding that way to just sort of attract that and to feel like spaciousness, like I have time. I have, you know, the ability, right? I, I have creativity. You have a wealth of things. And the reality is of like if you live in the US, you have a lot more than a lot of other people around the world.

Lewis Howes 59:42 Mm.

Rachel Rodgers 59:42 Right? So you are rich, right? Whether you think you are or not, living in this country, for most, most people. And so if that's the case, right, how can we start to think that way?

Lewis Howes 59:51 Why do, why do we lack the perspective? You know, it's-

Rachel Rodgers 59:54 Yes. I think it's, you know, all of the things that we're inundated with every day, like the different media. It might be the shows that we watch.

Lewis Howes 1:00:00 Mm.

Rachel Rodgers 1:00:00 You know, like people joke about like watching a sitcom and like somebody... You know, she's a waitress, but she has this fabulous apartment [laughs] in Manhattan. It's like, "Really?" [laughs]

Lewis Howes 1:00:08 Right, right, right.

Rachel Rodgers 1:00:09 How does that work? [laughs] So I think it's sometimes the things that we expose ourselves to. Um, and we can just choose to expose ourselves to other things, right?

Lewis Howes 1:00:17 Yeah.

Rachel Rodgers 1:00:18 We ex- we can be exposed to a lot of things that tell you like, "Oh, you're not good enough," or, "You're not smart enough," or, "You're overweight," or, "You're..." whatever. All kinds of messages that we get every day, and so you gotta curate that.

Lewis Howes 1:00:28 Mm-hmm.

Rachel Rodgers 1:00:29 You know? Curate your Instagram feed, right? Curate who's in your ear. If you have somebody who al- you know, if your mom or your friend from childhood is always making you feel like you're broke, stop talking to them.

Lewis Howes 1:00:40 Mm.

Rachel Rodgers 1:00:40 [laughs] Like talk to them. I mean, I'm not saying cut them off, but like maybe don't be on group chat with them every day, you know? [laughs] But be on group chat with people who have that abundant thinking, right?

Lewis Howes 1:00:50 Yeah.

Rachel Rodgers 1:00:50 Who are thinking expansively. Um, and also you know what makes me feel rich? Saying no makes me feel rich, like we just talked about.

Lewis Howes 1:00:58 Mm.

Rachel Rodgers 1:00:58 Right? Like having boundaries and somebody asking me do I wanna do that thing, whether it's a money thing or not, and just saying, "No, I don't wanna go to that party," or, "No, I don't wanna do that thing," and just feeling like- ... comfortable doing that. That feels abundant, you know?

Lewis Howes 1:01:10 Yeah.

Rachel Rodgers 1:01:10 And that creates more space for abundance in your life. So.

Lewis Howes 1:01:14 That's cool. And what would you say are the biggest insecurities or challenges you face now?

Rachel Rodgers 1:01:18 Mm.

Lewis Howes 1:01:18 At, at your stage after, I guess, 13 years in business now, you know, crossing 100,000, crossing the seven-figure mark and beyond. What's the challenge for the next level for you?

Rachel Rodgers 1:01:29 Yes. Okay, so, like, we just hit eight figures, and here's something that I just caught with myself doing is being like, "Well, I, I don't, I know how to run a seven-figure business. I don't know how to run an, a eight-figure business."

Lewis Howes 1:01:41 Mm.

Rachel Rodgers 1:01:41 "I don't know how to run a $10 million business."

Lewis Howes 1:01:43 Yes.

Rachel Rodgers 1:01:43 And it's like, that's not true, actually. Like, maybe there are some things that I don't know about this next phase, but that doesn't mean I can't figure it out, or, and that doesn't mean that there aren't things that I do know. So I've had to like... This is an ongoing journey, right? Where you're having to constantly correct yourself and say like-

Lewis Howes 1:01:58 Mm

Rachel Rodgers 1:01:58 ... "Stop talking like that, 'cause that's actually not helping anything." [laughs] So what do you know, right?

Lewis Howes 1:02:03 Yeah.

Rachel Rodgers 1:02:03 What evidence do you have that you are the right leader for this organization during this next phase?

Lewis Howes 1:02:08 Mm. Mm.

Rachel Rodgers 1:02:08 You know? 'Cause I think being a founder and an entrepreneur creating something is different than continuing something and continuing to scale it.

Lewis Howes 1:02:17 Right. Right.

Rachel Rodgers 1:02:18 Um, and I've seen this happen with some of my peers, too. Like, your company gets to a certain size, and you're like, "Should I even be CEO anymore?"

Lewis Howes 1:02:24 Right. Right.

Rachel Rodgers 1:02:25 Maybe you shouldn't. I mean, or maybe you should, right? Maybe it's just imposter syndrome. So I think that's one of the things that I'm kinda dealing with. And I also think something that I recently went through that I feel like I'm coming out of is trusting myself with this amount of money.

Lewis Howes 1:02:40 Mm.

Rachel Rodgers 1:02:41 You know what I mean?

Lewis Howes 1:02:42 You've never had this much money before.

Rachel Rodgers 1:02:43 Exactly.

Lewis Howes 1:02:44 So, uh, what do I do with this much money, right?

Rachel Rodgers 1:02:46 Yes, exactly.

Lewis Howes 1:02:46 Which, which investments should I be spending it in? Am I spending it in the right, wrong places?

Rachel Rodgers 1:02:51 Yes.

Lewis Howes 1:02:51 Interesting.

Rachel Rodgers 1:02:52 Yeah. And I've had, like... You know, you have different financial advisors that you go to-

Lewis Howes 1:02:56 Right

Rachel Rodgers 1:02:56 ... where you're supposed to get advice, and they tell me to do things, or they don't... You- Here's the in- interesting thing. They tell me to do things that I don't wanna do.

Lewis Howes 1:03:04 Mm.

Rachel Rodgers 1:03:04 And then the things that I do wanna do and I do get excited about investing in, they tell me not to do it.

Lewis Howes 1:03:08 Right.

Rachel Rodgers 1:03:08 And I'm like, "Well, but that's the thing I want to do."

Lewis Howes 1:03:11 Right.

Rachel Rodgers 1:03:11 And to me, it makes financial sense. A- and they tell me why they think I shouldn't, and I'm like, "Mm, still wanna do it, though." [laughs]

Lewis Howes 1:03:17 Can you give, can you give an example?

Rachel Rodgers 1:03:19 Like, okay, like buying this beach house this year.

Lewis Howes 1:03:22 Yeah.

Rachel Rodgers 1:03:22 Right? That is something... And I, I bought that beach house for my family so that I was just imagining being on the beach with my kids, like, all summer long. Um, and we lived at, live in a landlocked area. I love water. I, I like being near water. And so I was like, "This will be absolutely amazing."

Lewis Howes 1:03:39 Right.

Rachel Rodgers 1:03:39 And we usually go, like, one or two weeks, you rent, and it's so expensive.

Lewis Howes 1:03:43 Mm.

Rachel Rodgers 1:03:43 And so I'm like, "Why do that? We could buy something. We could rent it, um, and then we could use it during the summer." And it was the best summer ever. Like [laughs]

Lewis Howes 1:03:52 So you, so you were there the whole summer?

Rachel Rodgers 1:03:54 All summer long. My family came down. My friends came to visit.

Lewis Howes 1:03:57 Wow.

Rachel Rodgers 1:03:57 Beaches, beach houses attract people. [laughs]

Lewis Howes 1:03:59 Of course. Was this, was this Florida? Or where is this?

Rachel Rodgers 1:04:02 This is in North Carolina.

Lewis Howes 1:04:03 Okay, cool.

Rachel Rodgers 1:04:03 Um, and it, the beaches in North Carolina are amazing. So, you know, we've had an amazing time-

Lewis Howes 1:04:09 Wow

Rachel Rodgers 1:04:09 ... at this, like, expensive piece of property-

Lewis Howes 1:04:12 [laughs]

Rachel Rodgers 1:04:12 ... that my financial advisor told me absolutely do not buy. But the value in it was really-

Lewis Howes 1:04:18 Mm

Rachel Rodgers 1:04:18 ... like-

Lewis Howes 1:04:18 A rich life, a rich feeling.

Rachel Rodgers 1:04:20 Yes. That was it.

Lewis Howes 1:04:21 Which probably allows you to think bigger, and expansiveness in your business and-

Rachel Rodgers 1:04:25 Totally

Lewis Howes 1:04:26 ... your family is, you know-

Rachel Rodgers 1:04:28 Yes

Lewis Howes 1:04:28 ... feeling joy and love and-

Rachel Rodgers 1:04:30 Exactly.

Lewis Howes 1:04:31 Yeah.

Rachel Rodgers 1:04:31 And it doesn't have to make money, right? Like, I have other ways to make money. I can, if I can, and I can break even on it. So I'm like, I could have all of this amazing time with my family, and it allows me to be generous.

Lewis Howes 1:04:42 Yeah.

Rachel Rodgers 1:04:42 Like, one of the, um, I just invested in a startup the, the first time I became an investor this summer, um, which is another thing that I was, like, feeling uncomfortable about.

Lewis Howes 1:04:51 Mm.

Rachel Rodgers 1:04:52 You know? And so, um, the founder was like, just on this, like, big work sprint and doing so much to get this company up and running, and she was, like, gonna go on a vacation, and she asked me where to go in North Carolina. And I was like, "Oh, come stay at my beach house."

Lewis Howes 1:05:06 Oh, wow.

Rachel Rodgers 1:05:07 And just, like, the... You know what I mean? Like, being able to do things like that is-

Lewis Howes 1:05:11 Yeah. That's cool

Rachel Rodgers 1:05:12 ... it's awesome. And I've done that for a couple of friends now, and it just feels so good. So I think it was worth it. It may break even. It may make me a little bit of money, but, like, that's okay. And I had it. I could afford it. I had the money to do it. Um, so it's just like, I've had to learn to listen to my own voice. Here's the other thing that happens to me a lot with financial advisors and, like, accountants and, like, all the financial people. Not all of them, but most of them in my life. They all are like, "Well, you know, in order to do XYZ, we'd need to make another million dollars," or, "We need to do this or that," or whatever. And it's like, that's not possible. We can look at that for next year or the year after. And I'm like, "Oh no, I'm gonna go make that million right now."

Lewis Howes 1:05:50 Let's go. Why not? Yeah.

Rachel Rodgers 1:05:51 [laughs] You know?

Lewis Howes 1:05:52 Yeah.

Rachel Rodgers 1:05:52 And they're like, "That's, you know, we shouldn't be doing that."

Lewis Howes 1:05:55 [laughs]

Rachel Rodgers 1:05:55 Like, "It's not possible," right? Like, "You're gonna break the business."

Lewis Howes 1:05:58 But-

Rachel Rodgers 1:05:58 Right? Like-

Lewis Howes 1:05:59 They're too conservative, I think.

Rachel Rodgers 1:06:00 Exactly.

Lewis Howes 1:06:01 They don't-

Rachel Rodgers 1:06:01 And I'm just... And they don't believe me. And I'm like, "I want you to look at the P&Ls for the last three years of this business, and then come at me again and tell me that I can't do it."

Lewis Howes 1:06:10 Right.

Rachel Rodgers 1:06:10 Like, what are you talking about? Of course I can do it. Um, and, and, and I'm like, "Here's the problem. It's happening inevitably," right? Like, we are naturally growing.

Lewis Howes 1:06:18 Let's just ramp it up. Yeah.

Rachel Rodgers 1:06:19 Exactly. The, there's an audience there. There's more and more people interested in what we're selling. Like, it's happening anyway. And that's the other thing. We create these projections, and they're like, "We're not gonna hit those projections." And I'm like, "Your projections are too low. Like, you need to go with mine." And, a- and inevitably, we always exceed it every year.

Lewis Howes 1:06:35 Yeah. Yeah.

Rachel Rodgers 1:06:36 And then I'm like, it becomes a problem 'cause you actually can't plan, right? If you're, like, really under-shooting.

Lewis Howes 1:06:41 Mm-hmm.

Rachel Rodgers 1:06:42 So then you grow too much. You don't have enough team to cover it, right? Like, all of those things. So learning to trust my own instincts over all of these so, quote-unquote, "experts". And they are experts, and they definitely advise me on different things. But when it comes to, like, my own skill set-

Lewis Howes 1:06:56 Mm

Rachel Rodgers 1:06:56 ... and what I know I'm capable of doing, I'm just like, "Mm-mm." [laughs] And there was actually somebody I fired because they just kept saying, "That's not possible."

Lewis Howes 1:07:04 Wow.

Rachel Rodgers 1:07:04 You know? "R- really, you know, you should be more conservative," blah, blah, blah. And I'm like, "Goodbye. Get out of my ear."

Lewis Howes 1:07:10 Wow. Wow.

Rachel Rodgers 1:07:10 "You're not, you're not helping me. You're not putting me in the space of abundance." [laughs]

Lewis Howes 1:07:13 Abundance, yeah. That's true.

Rachel Rodgers 1:07:15 [laughs]

Lewis Howes 1:07:16 What was the, what was the mindset shift for you from going seven figures to eight figures? Like, what did it take?

Rachel Rodgers 1:07:21 Yes. Well, it's a-

Lewis Howes 1:07:22 Is it, is it tactical? Is it mindset? Is it a team? Is it systems, processes? What was that?

Rachel Rodgers 1:07:28 Yes. Um, I think it's all of that.

Lewis Howes 1:07:31 Mm.

Rachel Rodgers 1:07:31 But I think a big part of it is learning how to not do and learning how to lead.

Lewis Howes 1:07:35 Mm.

Rachel Rodgers 1:07:36 That is what takes you from seven to eight, is learning how to have a team, delegate to them, remove yourself from the day-to-day, and recognizing that the more you remove yourself from the business, the more it's going to grow.

Lewis Howes 1:07:47 Mm.

Rachel Rodgers 1:07:48 'Cause usually if there's something dependent on me, I am absolutely holding it up. [laughs] You know?

Lewis Howes 1:07:54 Right.

Rachel Rodgers 1:07:54 What I do... It's like you have to keep redefining your role in a company, right? If you're the CEO, then it's like, how does your CEO role change over time when you've hired a COO or you've hired other leaders-

Lewis Howes 1:08:06 Nice

Rachel Rodgers 1:08:06 ... on your team, and you've got this team of copywriters and all, all kinds of people, coaches on my team, right? Like, let them do their thing, right? Learn how to get out of the way.

Lewis Howes 1:08:16 [laughs]

Rachel Rodgers 1:08:16 You've hired smart people, let them do it. So really removing yourself and, and learning how to lead and have a vision and say, "Hey, y'all, here's where we're going."

Lewis Howes 1:08:24 Yes.

Rachel Rodgers 1:08:25 "Here's where we're trying to go in the next three years. Um, let's talk about how we're gonna get there. We'll figure out the how together. Um, and these are the goals we're gonna hit this year." And then just let them go-

Lewis Howes 1:08:35 Yes. Mm-hmm

Rachel Rodgers 1:08:35 ... and be there to coach them and support them.

Lewis Howes 1:08:37 Right.

Rachel Rodgers 1:08:37 You know, and help them step into their own leadership, help them solve the problems you've solved, like learning how to delegate or learning how to protect your time. Now you gotta teach them how to do that.

Lewis Howes 1:08:45 Sure.

Rachel Rodgers 1:08:45 Um, so that's, that's what that phase was. And what, what the next phase holds, I have no idea.

Lewis Howes 1:08:51 [laughs]

Rachel Rodgers 1:08:51 But probably even more of that.

Lewis Howes 1:08:52 More of that. Yeah.

Rachel Rodgers 1:08:53 [laughs] Yes.

Lewis Howes 1:08:55 Wow. What's the business model for you, if you can bring it down for people? What's the, the main revenue streams that go in?

Rachel Rodgers 1:09:01 Yeah. We sell one thing. Uh, we sell We Should All Be Millionaires The Club-

Lewis Howes 1:09:06 Okay

Rachel Rodgers 1:09:06 ... which is a membership community that, um, teaches people from marginalized identities how to build a seven-figure business from scratch.

Lewis Howes 1:09:15 Okay. What's the membership price?

Rachel Rodgers 1:09:17 It's 295 a month.

Lewis Howes 1:09:19 295 a month.

Rachel Rodgers 1:09:20 Or they can join annually for 2,995, and that is the only thing we sell at this moment.

Lewis Howes 1:09:24 295.

Rachel Rodgers 1:09:24 There's lots of discussion on my team about whether we should be selling [laughs] other things, and so we may have other things in the near future, but I'm really a strong believer of, like, focus.

Lewis Howes 1:09:34 Yes.

Rachel Rodgers 1:09:34 Simplify.

Lewis Howes 1:09:35 Focus.

Rachel Rodgers 1:09:36 Yeah. Like, a- I think, you know, when you look at your P&Ls, I love numbers because they, there's a story there, right?

Lewis Howes 1:09:42 Mm-hmm.

Rachel Rodgers 1:09:42 And so when I look at my numbers and they're telling me, like, "The vast majority of your in, of your revenue is coming from this place, and then you've got this other thing you're selling over here that's keeping people mighty busy, but it's really not bringing in-

Lewis Howes 1:09:53 Not bringing a lot of money.

Rachel Rodgers 1:09:54 Yeah. It's like, drop it, and let's get focused on-

Lewis Howes 1:09:57 W-

Rachel Rodgers 1:09:57 ... the main way that we can serve people.

Lewis Howes 1:09:59 Were you o- Did you have many offerings before and you just focused on this one recently?

Rachel Rodgers 1:10:02 Years ago, like when I transitioned out of my law practice, I had probably 17 offers. I mean, I had-

Lewis Howes 1:10:07 Wow

Rachel Rodgers 1:10:07 ... I tried everything. One-on-one coaching-

Lewis Howes 1:10:09 Yeah

Rachel Rodgers 1:10:09 ... group, retreats, workshops, like all of the things, um, and drove myself nuts with that.

Lewis Howes 1:10:15 Wow.

Rachel Rodgers 1:10:15 And then [laughs] after a while I was like, "Let's stop doing that." Um, and so I started to, like, narrow it down-

Lewis Howes 1:10:21 Mm

Rachel Rodgers 1:10:21 ... um, and get really focused. And I did this in my law practice too, but I had to learn the lesson again. 'Cause in my law practice I was doing everything, and when I looked at my numbers I saw the main things that brought in money were Small Business Bodyguard, that product, and trademark services. So I-

Lewis Howes 1:10:34 So why not go all in on those two things? Yeah

Rachel Rodgers 1:10:35 ... cut everything else and just sold those. And we, like, you know-

Lewis Howes 1:10:39 Wow

Rachel Rodgers 1:10:39 ... made a lot more revenue.

Lewis Howes 1:10:40 Wow.

Rachel Rodgers 1:10:41 Um-

Lewis Howes 1:10:41 So it's one pro- what- it's called We Should All Be Millionaires the membership, right?

Rachel Rodgers 1:10:45 Right. The club.

Lewis Howes 1:10:45 The club. Yeah.

Rachel Rodgers 1:10:46 So everybody calls it the club.

Lewis Howes 1:10:47 The club. Gotcha.

Rachel Rodgers 1:10:49 Yes.

Lewis Howes 1:10:49 So this one club, this membership recurring revenue brings in eight figures.

Rachel Rodgers 1:10:53 Yep.

Lewis Howes 1:10:54 That's great. And that's the only thing you're selling. You might have book deals and speaking here and there or some smaller-

Rachel Rodgers 1:10:58 Yes

Lewis Howes 1:10:58 ... not smaller, but other side income.

Rachel Rodgers 1:11:00 Right.

Lewis Howes 1:11:00 But that's the main offering.

Rachel Rodgers 1:11:01 Yep.

Lewis Howes 1:11:02 That's amazing.

Rachel Rodgers 1:11:03 Yeah.

Lewis Howes 1:11:03 And what's the process for lead gen, retention?

Rachel Rodgers 1:11:07 Yeah.

Lewis Howes 1:11:08 Is it all, you know-

Rachel Rodgers 1:11:09 So-

Lewis Howes 1:11:09 ... do you do launches throughout the year? Are you doing webinars? Are you doing challenges? Are you doing Facebook ads?

Rachel Rodgers 1:11:15 Yes.

Lewis Howes 1:11:15 Like, what's the... Affiliate launches, what's the-

Rachel Rodgers 1:11:17 Well, so we do, um, we don't do affiliates. We have, we- we've done two launches this year, or we did one. We're gonna have another one that's coming up.

Lewis Howes 1:11:25 Right.

Rachel Rodgers 1:11:25 So we have, we'll have two big open launches this year. Each month we have a wait list. We open the cart for the wait list for two days for just those people on the wait list.

Lewis Howes 1:11:34 Wow.

Rachel Rodgers 1:11:34 Um, and that's it. You know? Like, we do, you know, I have a podcast, we have the book, which has been probably the biggest promoter.

Lewis Howes 1:11:42 Really?

Rachel Rodgers 1:11:42 We do a lot of press. Um, and, you know, I've been organically building this audience for 11 years, so-

Lewis Howes 1:11:49 No Facebook ads?

Rachel Rodgers 1:11:50 We do Facebook ads-

Lewis Howes 1:11:51 Okay

Rachel Rodgers 1:11:51 ... but we spend barely any money on it.

Lewis Howes 1:11:52 Wow.

Rachel Rodgers 1:11:53 I know. And, like, I usually have marketing people yelling at me saying, "We need to [laughs] spend a lot more." And we probably do. I mean, there's probably opportunity there, but-

Lewis Howes 1:12:01 When you open it up, are you doing webinars? Are you doing, are you teaching-

Rachel Rodgers 1:12:04 Yeah

Lewis Howes 1:12:04 ... to get people in? Or they just say-

Rachel Rodgers 1:12:06 Well, the s-

Lewis Howes 1:12:06 ... sign up, and they just spend three grand? How does it-

Rachel Rodgers 1:12:08 Uh, well, the last launch we did, we literally just opened the doors-

Lewis Howes 1:12:11 Oh, okay

Rachel Rodgers 1:12:11 ... and sent a couple emails-

Lewis Howes 1:12:12 Wow

Rachel Rodgers 1:12:12 ... and that was it. Because I was doing so much press for the book-

Lewis Howes 1:12:16 Sure

Rachel Rodgers 1:12:16 ... that I was like, "That, that should be-

Lewis Howes 1:12:18 You got time

Rachel Rodgers 1:12:18 ... enough momentum." Right? Like-

Lewis Howes 1:12:19 Right. Yeah

Rachel Rodgers 1:12:19 ... if that doesn't convince them, then that's fine. [laughs]

Lewis Howes 1:12:22 Yeah.

Rachel Rodgers 1:12:22 You know? So and n- this time we just created an assessment, so people take it-

Lewis Howes 1:12:27 Mm

Rachel Rodgers 1:12:27 ... to help them figure out where they're at.

Lewis Howes 1:12:29 Where they're at.

Rachel Rodgers 1:12:29 We have something called the Grow Scale. And here's the other thing that I think is so crucial for entrepreneurs to, like, really be able to work their way out of their business, is, like, it's just a process of downloading what's in your brain-

Lewis Howes 1:12:42 Yeah

Rachel Rodgers 1:12:42 ... so that your team can take action on it. And so we created recently the Hello Seven Grow Scale, which, which is basically like coaching people o- based on what stage of business they're at. So if you're at zero to 25 or 25 to 50 or 100,000 to 250 or-

Lewis Howes 1:12:57 Wow

Rachel Rodgers 1:12:57 ... 250 to 500, wherever you're at, here is what I would say to you. Here's, here's the mindset.

Lewis Howes 1:13:02 The next steps.

Rachel Rodgers 1:13:02 Yes. Your mindset issues you're having, what your org chart should look at at this stage, what investment should you be making.

Lewis Howes 1:13:07 Mm.

Rachel Rodgers 1:13:07 What does your team look like at this stage?

Lewis Howes 1:13:09 That's cool.

Rachel Rodgers 1:13:10 Um, what are the, you know, what's your graduation checklist? Like, your, these are the things you need to do to get your revenue up to the next level.

Lewis Howes 1:13:17 Where can people take that?

Rachel Rodgers 1:13:19 That is at helloseven.co/growth So they can take the assessment, then they get a report that gives them a little bit of that. Um, and then if they join the club, they get the full GrowScale, um, experience. [laughs]

Lewis Howes 1:13:32 That's amazing.

Rachel Rodgers 1:13:33 So-

Lewis Howes 1:13:33 What do they get when they're part of the club?

Rachel Rodgers 1:13:35 They get... So they get the GrowScale course. We have some other courses in there. And it's-

Lewis Howes 1:13:38 The GrowScale course teaches them...

Rachel Rodgers 1:13:40 How to grow a business from zero to seven.

Lewis Howes 1:13:42 There you go.

Rachel Rodgers 1:13:43 And, and it, it came from because in this book, one of my friends was like, "Wouldn't it be amazing if you could just give a checklist of, like, how to grow a seven-figure business? Like, just give us all the steps." And I tried to do that and realized it's circular, not linear, so some things you gotta revisit.

Lewis Howes 1:13:57 Mm-hmm.

Rachel Rodgers 1:13:58 And so I hired an instructional designer that basically helped me-

Lewis Howes 1:14:01 Oh, that's nice

Rachel Rodgers 1:14:01 ... and we created this huge scope and sequence that then we filmed and, and did all the pieces so that it was this GrowScale course.

Lewis Howes 1:14:08 That's great.

Rachel Rodgers 1:14:09 Because I want something that coaches them when I'm not there.

Lewis Howes 1:14:11 Of course.

Rachel Rodgers 1:14:11 So if they're like, "What would Rachel say?" You know. [laughs]

Lewis Howes 1:14:14 Yeah. Go back to that.

Rachel Rodgers 1:14:14 You can access it-

Lewis Howes 1:14:15 Yeah, yeah

Rachel Rodgers 1:14:15 ... at, on Tuesday at 2:00 AM if you want, you know? [laughs]

Lewis Howes 1:14:18 Yeah, yeah.

Rachel Rodgers 1:14:18 So and that was just me, like, downloading my brain, and then it's a great tool because now I can train my coaches using it-

Lewis Howes 1:14:24 Mm-hmm

Rachel Rodgers 1:14:24 ... right? Like, it's... I train my team and then also teach my clients.

Lewis Howes 1:14:28 Right.

Rachel Rodgers 1:14:28 So it's just, it's basically creating intellectual property from your brain-

Lewis Howes 1:14:32 Absolutely

Rachel Rodgers 1:14:32 ... um, that can serve people when you're not there.

Lewis Howes 1:14:34 So you have coaches that are delivering on a monthly basis in here.

Rachel Rodgers 1:14:37 Mm-hmm.

Lewis Howes 1:14:38 But they're doing group coaching or one-on-one or how?

Rachel Rodgers 1:14:40 They're doing group coaching. They do some one-on-one so folks can-

Lewis Howes 1:14:42 Yeah

Rachel Rodgers 1:14:42 ... like, who are in the program can buy one-on-ones when they need them.

Lewis Howes 1:14:45 Oh, gotcha, from your coaches.

Rachel Rodgers 1:14:46 Yes.

Lewis Howes 1:14:47 Oh, that's cool.

Rachel Rodgers 1:14:48 Yeah.

Lewis Howes 1:14:48 That's great. How many coaches do you have?

Rachel Rodgers 1:14:50 We have three at the moment.

Lewis Howes 1:14:51 Well-

Rachel Rodgers 1:14:51 Well, including me, it's four.

Lewis Howes 1:14:53 Yeah, yeah. That's great.

Rachel Rodgers 1:14:54 So, and we're hiring two more. So as we-

Lewis Howes 1:14:56 And how many-

Rachel Rodgers 1:14:56 ... keep growing, we need more.

Lewis Howes 1:14:57 And how many are on the fu- full-time team?

Rachel Rodgers 1:14:59 We have 25 employees.

Lewis Howes 1:15:01 25 employees. Do you think it's possible to get to eight figures with under 10 employees?

Rachel Rodgers 1:15:05 I think it's possible, yes.

Lewis Howes 1:15:07 Yeah.

Rachel Rodgers 1:15:07 Um, I think it really depends on what are you selling. Is it, can it be very, like, based on technology, if you can use a lot of tech to deliver-

Lewis Howes 1:15:15 Right, right

Rachel Rodgers 1:15:16 ... versus human power?

Lewis Howes 1:15:17 Mm-hmm.

Rachel Rodgers 1:15:18 That's gonna allow you to do that. So I think it's possible, but I'm sort of like, you know, my team is funny because I'm always like, you know, my copywriters are getting backed up and they're busy, and they're... You know, we have two of them. I'm like, "Let's just hire another copywriter." And they're like, "Well, we don't need it. I don't know if we can keep them busy full time." I'm like, "Not now, but soon we will."

Lewis Howes 1:15:37 Yeah, you're right.

Rachel Rodgers 1:15:37 "So let's just go ahead and do it."

Lewis Howes 1:15:38 Work into it, yeah.

Rachel Rodgers 1:15:39 Yes. So I'm always like, "Who's our next hire," right?

Lewis Howes 1:15:42 Yeah.

Rachel Rodgers 1:15:42 And usually we have, you know, 10 different roles [laughs] that we're hiring. Right now we have a lot of roles that we're hiring for and to me, I'm like, "Listen, the, I'm creating a great place to work," that I was looking for when I graduated from college-

Lewis Howes 1:15:56 Mm, mm

Rachel Rodgers 1:15:56 ... that didn't exist, or I couldn't find it. Um, and so I'm creating that.

Lewis Howes 1:16:00 Mm-hmm.

Rachel Rodgers 1:16:00 And-

Lewis Howes 1:16:01 What does that include in that environment?

Rachel Rodgers 1:16:03 It includes flexibility. I think that is key. You know, people are like, "I gotta go take a doctor's appointment," or, "I wanna be there for my kid's thing," or whatever, do whatever. Do what you need to do. Um, autonomy, right? Like, you know, people will be like, "Can I skip this meeting?" I don't know, can you? You decide, right? Do you feel like you can do your job by skipping this meeting, or do you feel like you have to be there? And then let them decide. So I'm really teaching them how to be leaders, right? Like, lead yourself. Um, be a strategic thinker, you know? Um, and also have autonomy. I trust your opinions.

Lewis Howes 1:16:34 Yeah.

Rachel Rodgers 1:16:34 I trust your decisions. Um, so teaching them that. I think we all want that at work.

Lewis Howes 1:16:39 Mm-hmm.

Rachel Rodgers 1:16:39 And the ability to be creative and contribute ideas I think is crucial. And then of course, you, you need a 401 [k] [laughs] you need, like, we do profit sharing. So if we have a big month, everybody participates in that, and it's the next month.

Lewis Howes 1:16:51 Mm.

Rachel Rodgers 1:16:51 So we... So, like, in May we had a huge month. In June, everybody got a check based on May.

Lewis Howes 1:16:56 That's great.

Rachel Rodgers 1:16:56 Because I want them to see, like, whatever we did that created May, let's do that again.

Lewis Howes 1:17:00 Right.

Rachel Rodgers 1:17:01 Then there'll be another big check for everybody.

Lewis Howes 1:17:03 Yeah, yeah.

Rachel Rodgers 1:17:03 Um, and you know, health insurance, like, you know, paid time off and working remotely I think-

Lewis Howes 1:17:08 Mm

Rachel Rodgers 1:17:08 ... are all things that-

Lewis Howes 1:17:10 That's cool

Rachel Rodgers 1:17:10 ... that I was looking for in a workplace, that I was like, "That would be a dream come true." Like-

Lewis Howes 1:17:14 Yeah

Rachel Rodgers 1:17:14 ... that's like you're asking for too much when I graduated. Um, but now it's becoming more common and just being able to provide that work environment, and a cool, a great culture as well where people feel seen and people feel like they can fully bring them, their full selves to work.

Lewis Howes 1:17:29 That's cool.

Rachel Rodgers 1:17:29 Um, that's my goal, and it's a work in progress. Like, there's always things to work on. There's always ways that we can improve our culture.

Lewis Howes 1:17:35 Mm-hmm.

Rachel Rodgers 1:17:35 Um, so I'm very aware of that. We haven't figured it all out.

Lewis Howes 1:17:38 Yeah, right.

Rachel Rodgers 1:17:38 You know, I'm learning and-

Lewis Howes 1:17:40 As we're growing it's... Yeah, we're always figuring it out.

Rachel Rodgers 1:17:41 Exactly.

Lewis Howes 1:17:42 What, what... If you had to double your revenue in the next calendar year, let's say from this year to next year-

Rachel Rodgers 1:17:49 Mm

Lewis Howes 1:17:50 ... if you had to.

Rachel Rodgers 1:17:51 I love this question. [laughs]

Lewis Howes 1:17:52 Life, life depended on it-

Rachel Rodgers 1:17:54 Yes

Lewis Howes 1:17:54 ... what would you do? Obviously, it's a hypothetical scenario. It doesn't need to be that drastic.

Rachel Rodgers 1:18:00 Yeah.

Lewis Howes 1:18:00 And some years are double, some years are incremental, like, it depends on what's happening, but if you had to, what would you do? What would be the next three moves you would make for the next, for the rest of this quarter to lead you up-

Rachel Rodgers 1:18:12 Mm

Lewis Howes 1:18:12 ... to doubling next year?

Rachel Rodgers 1:18:14 Yes. It-

Lewis Howes 1:18:15 If you had to.

Rachel Rodgers 1:18:16 Okay. So it's interesting. I don't think I would do anything particularly drastic.

Lewis Howes 1:18:21 What would you do?

Rachel Rodgers 1:18:22 I think I would, um, I'd spend more money on Facebook ads [laughs] to get in front of more people. Um, I would probably reach out to some of my peers and ask them to help promote, uh, whatever launches or, or work we're doing. I would probably say yes to more press, 'cause I say no to a lot of it, [laughs] um, to get in front of a bigger audience. And I think I would, I would just, um, instead of doing two launches a year, I'd be doing one every month.

Lewis Howes 1:18:52 Mm-hmm.

Rachel Rodgers 1:18:53 Um, and that's it, really. I feel like I would just do more of the same, but turn up the dial. 'Cause I think it's so, it's such a great question because it points out exactly the places where we're complacent-

Lewis Howes 1:19:02 Mm

Rachel Rodgers 1:19:03 ... and we're just like, "I'm content with this level of growth. I'm not gonna really work hard."

Lewis Howes 1:19:06 Yeah.

Rachel Rodgers 1:19:06 "I'm gonna coast for the rest of the [laughs] year." And it's like, if you had to hustle, it's really actually not that different. I wouldn't launch anything else.

Lewis Howes 1:19:14 Mm.

Rachel Rodgers 1:19:15 M- maybe I would, but I don't think I would need to.

Lewis Howes 1:19:17 Yeah.

Rachel Rodgers 1:19:17 I think I would just keep doubling down. And you know what I'd probably do? Because Schmilie Nation, my, my clients are so amazing that I probably would just go to them and say, "Hey, can all of you ... um, share about-

Lewis Howes 1:19:31 Mm

Rachel Rodgers 1:19:31 ... the club with friends of yours, and we're gonna create an affiliate program to give you some kind of benefit when you share. That probably alone would double it, just depending on... I, like, I... They are so amazing, and it's like they are a movement, you know?

Lewis Howes 1:19:47 Mm-hmm.

Rachel Rodgers 1:19:47 So I feel like they would, they would be the best ambassadors.

Lewis Howes 1:19:51 So the five things I heard you say is s- uh, spend money on Facebook ads, actually.

Rachel Rodgers 1:19:55 [laughs]

Lewis Howes 1:19:56 And t- target people and get in front of people.

Rachel Rodgers 1:19:58 Mm.

Lewis Howes 1:19:58 Two is find affiliates from your peers. Three is do more press. Four would be to ask your customers to refer one person. That would double it.

Rachel Rodgers 1:20:06 Yes.

Lewis Howes 1:20:06 And then five is, um, launch monthly.

Rachel Rodgers 1:20:10 Yes

Lewis Howes 1:20:10 Or every other month or something.

Rachel Rodgers 1:20:12 Yes.

Lewis Howes 1:20:12 Like, do two times the amount of launches or-

Rachel Rodgers 1:20:14 Yeah, just get... Put, put it out there more. Put-

Lewis Howes 1:20:16 Yeah

Rachel Rodgers 1:20:16 ... m- like really just put more effort into the marketing.

Lewis Howes 1:20:19 And so if you, let's just say you implemented this and it's the end of next year and you went from whatever, say it's 10 million to 20 million, what would that do for you?

Rachel Rodgers 1:20:29 Well-

Lewis Howes 1:20:29 And what, and what could you do with that extra $10 million?

Rachel Rodgers 1:20:31 Well, I'm in the process of starting a nonprofit, and so that would be a lot of bread to put into that nonprofit.

Lewis Howes 1:20:38 Yeah

Rachel Rodgers 1:20:38 And-

Lewis Howes 1:20:38 Who would you be serving, and how would it change their lives?

Rachel Rodgers 1:20:41 Well, we're reserving the entrepreneurs that we're serving and helping them to build businesses, and then also with some of that money, we would be serving, um, single moms who's-

Lewis Howes 1:20:51 Mm

Rachel Rodgers 1:20:51 ... who we wanna support through the-

Lewis Howes 1:20:52 How many moms would you be able to serve with that much more money?

Rachel Rodgers 1:20:55 Ooh, a lot.

Lewis Howes 1:20:57 Give me a number.

Rachel Rodgers 1:20:58 Probably 1,000.

Lewis Howes 1:20:59 1,000 single moms. How would you serve them specifically?

Rachel Rodgers 1:21:03 Well, there's a couple things I wanna do. I wanna provide doulas for every Black woman giving birth in America.

Lewis Howes 1:21:08 Mm, that's cool.

Rachel Rodgers 1:21:09 Um-

Lewis Howes 1:21:09 How much does that cost?

Rachel Rodgers 1:21:11 A doula probably is somewhere between, like, $500 to $1,000 for them to be there when you give birth.

Lewis Howes 1:21:19 Mm-hmm.

Rachel Rodgers 1:21:19 And there might be, like, a little bit more involved-

Lewis Howes 1:21:21 Sure

Rachel Rodgers 1:21:21 ... and it might change depending on the location, but not that much money.

Lewis Howes 1:21:25 For how many people do you wanna do that for?

Rachel Rodgers 1:21:28 Uh, I said 1,000.

Lewis Howes 1:21:30 1,000 moms, okay. So how much is that?

Rachel Rodgers 1:21:31 So if you served 1,000 moms and it was $1,000 per mom, that's not that much.

Lewis Howes 1:21:38 Okay. So what-

Rachel Rodgers 1:21:40 And then the other thing that we wanna do... So, like, I wanna take it all the way. So doulas, then I wanna provide night nurses to-

Lewis Howes 1:21:46 Oh

Rachel Rodgers 1:21:46 ... moms because this is a thing that I learned from my rich friends. And I had with my last child-

Lewis Howes 1:21:51 They get sleep. They have the energy to go create.

Rachel Rodgers 1:21:53 Hello. Yes.

Lewis Howes 1:21:54 You sleep.

Rachel Rodgers 1:21:55 I mean, it is life-changing.

Lewis Howes 1:21:56 [laughs]

Rachel Rodgers 1:21:57 And, um, and it's not even that expensive.

Lewis Howes 1:21:59 Right.

Rachel Rodgers 1:22:00 You know? Um, and so that's something that I want it to be more accessible. And then the other thing is childcare. So, like, it would be doulas, night nurses, and then-

Lewis Howes 1:22:10 Mm-hmm

Rachel Rodgers 1:22:10 ... you know, subsidizing childcare, especially for women who are trying to build their careers or wanting to-

Lewis Howes 1:22:15 Mm

Rachel Rodgers 1:22:15 ... build something entrepreneurial.

Lewis Howes 1:22:17 Okay. How much would that cost to do 1,000 moms for all three of those services?

Rachel Rodgers 1:22:23 That's a good question. I think for childcare for the year, the least it would be is, like, five grand.

Lewis Howes 1:22:28 Mm-hmm.

Rachel Rodgers 1:22:29 Um, and then, you know, the doula was 1,000. Night nurses for let's say the first month would probably be, like, two, $2,500.

Lewis Howes 1:22:39 Okay.

Rachel Rodgers 1:22:39 So, you know.

Lewis Howes 1:22:41 So it's, like, 8,500 bucks-

Rachel Rodgers 1:22:42 Per person

Lewis Howes 1:22:43 ... per mom.

Rachel Rodgers 1:22:44 Wow.

Lewis Howes 1:22:45 For a year, I guess you're talking about, or f- I don't know how long the doula process is. Is that the last three months? Is that-

Rachel Rodgers 1:22:49 Well, the... Yeah, they're, they're... They meet with you a couple of times during your pregnancy-

Lewis Howes 1:22:53 So it's a, that's a set fee though

Rachel Rodgers 1:22:53 ... and then they're there.

Lewis Howes 1:22:54 Yeah, set fee then.

Rachel Rodgers 1:22:54 Yeah, so it's a, it's a more finite thing. And then the night nurse, I think if you have that in the first month, like-

Lewis Howes 1:23:00 Right, right

Rachel Rodgers 1:23:00 ... you're probably less likely to be, get postpartum.

Lewis Howes 1:23:03 Yeah, of course.

Rachel Rodgers 1:23:04 You know what I mean? Like-

Lewis Howes 1:23:05 Get depressed. Yeah, overwhelmed

Rachel Rodgers 1:23:05 ... it makes a huge difference just getting some [laughs] deep sleep.

Lewis Howes 1:23:08 Of course, yeah.

Rachel Rodgers 1:23:09 [laughs]

Lewis Howes 1:23:10 Sleep is key.

Rachel Rodgers 1:23:10 Yes. So that would be amazing.

Lewis Howes 1:23:13 Mm-hmm.

Rachel Rodgers 1:23:13 Um, and then also, you know, covering childcare for a year or at least subsidizing it-

Lewis Howes 1:23:18 Yeah

Rachel Rodgers 1:23:18 ... um, I think would be life-changing-

Lewis Howes 1:23:20 Sure

Rachel Rodgers 1:23:21 ... for a woman.

Lewis Howes 1:23:21 Okay.

Rachel Rodgers 1:23:22 So-

Lewis Howes 1:23:23 So 1,000 moms, if it costs 8,500 bucks, that's a lot of bread.

Rachel Rodgers 1:23:28 Yeah. But I feel like, I think there's a lot of money that I could put into it.

Lewis Howes 1:23:32 Right. You could get donations.

Rachel Rodgers 1:23:33 Is that 0.5?

Lewis Howes 1:23:34 Yeah.

Rachel Rodgers 1:23:35 So.

Lewis Howes 1:23:35 There you go. There's your extra $10 million. [laughs]

Rachel Rodgers 1:23:37 [laughs] That would cover it.

Lewis Howes 1:23:39 That would cover it.

Rachel Rodgers 1:23:39 And I also have a lot of rich friends.

Lewis Howes 1:23:41 Yeah, they would... You could get donations and-

Rachel Rodgers 1:23:43 Yeah, exactly.

Lewis Howes 1:23:44 You didn't have to fund them all yourself, but that'd be a good start.

Rachel Rodgers 1:23:47 I love that you made me break that down, 'cause it just makes it feel so much closer. 'Cause I was like, "This is a faraway thing, but I'm gonna get the ball rolling." Um, but-

Lewis Howes 1:23:56 I mean, you could, every month you launch, you could also say, "If we hit this many in sales, we're gonna help 100 moms."

Rachel Rodgers 1:24:03 Oh my God, I'm obsessed. Yes.

Lewis Howes 1:24:04 So have a meaning behind every launch.

Rachel Rodgers 1:24:06 [laughs]

Lewis Howes 1:24:06 Every launch needs to serve moms.

Rachel Rodgers 1:24:09 Yes. So exciting.

Lewis Howes 1:24:09 And that will support you in actually getting people behind it, knowing their money is investing in something that you're spending on helping moms as well.

Rachel Rodgers 1:24:16 Yes.

Lewis Howes 1:24:17 So every month it should be, "We're gonna help 100 moms this month, and how much money do we need to earn on this launch-

Rachel Rodgers 1:24:23 Yes

Lewis Howes 1:24:24 ... to give whatever that percentage is gonna be to serve that many moms?" Or a certain percentage of that fee in this nonprofit, in this charity that you'll be raising money for as well, I'm assuming.

Rachel Rodgers 1:24:33 Yes.

Lewis Howes 1:24:34 I think that would be powerful for your team to get behind, your community to get behind, uh, and just grow from there. So-

Rachel Rodgers 1:24:41 How much do I owe you for this advice? [laughs]

Lewis Howes 1:24:45 [laughs] My mission is to serve 100 million lives weekly in what I create.

Rachel Rodgers 1:24:50 Yes.

Lewis Howes 1:24:51 And so, you know, you're the one who came up with this idea.

Rachel Rodgers 1:24:54 [laughs]

Lewis Howes 1:24:55 I asked the question-

Rachel Rodgers 1:24:57 Yes

Lewis Howes 1:24:57 ... to unlock that for you to then get clear.

Rachel Rodgers 1:24:59 Yes.

Lewis Howes 1:25:00 So, you know, you're the one that did all the work.

Rachel Rodgers 1:25:02 Yeah. Well, I'm excited-

Lewis Howes 1:25:04 Yeah

Rachel Rodgers 1:25:04 ... 'cause now we're gonna go do it.

Lewis Howes 1:25:05 But I think that's... I think when... The reason I wanted to ask this is because people can say, "I wanna double my income this year, double my revenue this year." Why?

Rachel Rodgers 1:25:14 Yes.

Lewis Howes 1:25:15 Why? And how are you gonna serve your s- You know, if you're broke, okay, do it to serve yourself-

Rachel Rodgers 1:25:20 Right

Lewis Howes 1:25:20 ... so you can have your life set up, your family, your situation-

Rachel Rodgers 1:25:24 Yes

Lewis Howes 1:25:24 ... so you can feel like you're having a rich, healthy life.

Rachel Rodgers 1:25:27 Yes.

Lewis Howes 1:25:29 Then once, okay, once you've made $10 million in your business and you've got a rich, healthy life and you're buying horses for your kids and stuff like that- Great. Now-

Rachel Rodgers 1:25:38 Yes

Lewis Howes 1:25:38 ... if we're gonna double our revenue, is it to buy 100 horses or to help 100 moms a month?

Rachel Rodgers 1:25:42 Yes.

Lewis Howes 1:25:43 And how are we gonna serve with the tools that we have-

Rachel Rodgers 1:25:45 Yes

Lewis Howes 1:25:46 ... and the finances we have? And that's what's been mean- meaningful for me and what we've been able to create is to be of service to the things that are important to us-

Rachel Rodgers 1:25:53 Yes

Lewis Howes 1:25:54 ... beyond hiring more people and beyond, you know, our lives.

Rachel Rodgers 1:25:57 Exactly.

Lewis Howes 1:25:58 But how do we serve with the, with, with the extra that we can, we can give back to them?

Rachel Rodgers 1:26:01 Yeah, 100%.

Lewis Howes 1:26:03 And I think that will drive you and your team to work with more intention and focus and feel, continue to feel even more proud.

Rachel Rodgers 1:26:09 Yes.

Lewis Howes 1:26:09 We're helping our customers, and we're helping beyond.

Rachel Rodgers 1:26:12 Yes.

Lewis Howes 1:26:13 So-

Rachel Rodgers 1:26:13 It does. It makes it more exciting. 'Cause I will tell you, one of the things that I've been dealing with is, like, this mental burnout.

Lewis Howes 1:26:18 Mm-hmm.

Rachel Rodgers 1:26:19 Like, I have all the energy in the world, but I'm just, like, mentally... I don't know if it's boredom or what. It's like-

Lewis Howes 1:26:25 'Cause you're doing the same thing over and over, or what?

Rachel Rodgers 1:26:27 Yeah, for y- well, and I think, I don't know what it is. It's like you master a skill, or your team is doing it, so it's like I'm almost having this existential crisis of like-

Lewis Howes 1:26:38 Mm

Rachel Rodgers 1:26:38 ... where am I needed, because-

Lewis Howes 1:26:39 Mm

Rachel Rodgers 1:26:39 ... my team's got it. So I don't really, I don't have to show up to work, and everything will still keep running.

Lewis Howes 1:26:44 When I f- when I have had that thought for me, I keep thinking I'm not serving on a high enough level.

Rachel Rodgers 1:26:49 Yeah.

Lewis Howes 1:26:50 So where do I need to serve more?

Rachel Rodgers 1:26:53 Yep.

Lewis Howes 1:26:54 And that's why I wanted to ask you this question, because I wanted to figure out what's meaningful in your heart.

Rachel Rodgers 1:26:58 Yes.

Lewis Howes 1:26:58 'Cause you've mastered money, you've mastered bringing a team to this level, but what's gonna get you excited nonstop like five years ago-

Rachel Rodgers 1:27:05 Yes

Lewis Howes 1:27:06 ... seven years ago, to get to the million-dollar level, to then say, "We're gonna change 1,000 moms' lives every year."

Rachel Rodgers 1:27:12 Oh my God.

Lewis Howes 1:27:12 I can imagine what that would feel... I'm getting chills just thinking about this.

Rachel Rodgers 1:27:15 I'm, I mean, I'm so lit up right now. [laughs]

Lewis Howes 1:27:17 Imagine, imagine yourself back when you were 27 or whatever it was-

Rachel Rodgers 1:27:21 Yes

Lewis Howes 1:27:21 ... when you were, like, making 40 grand a year, struggling to, you know, you got your kid, you got this, and you're just trying to figure it out. And imagine 1,000 moms like that, or not even at that stage-

Rachel Rodgers 1:27:33 Mm-hmm

Lewis Howes 1:27:33 ... how you could change their life-

Rachel Rodgers 1:27:35 Yeah

Lewis Howes 1:27:35 ... next year, and the ripple and the impact on their families that would have because of you-

Rachel Rodgers 1:27:39 Yeah

Lewis Howes 1:27:40 ... and what your company and your mission was able to create. That will get you excited.

Rachel Rodgers 1:27:45 That's pretty dope.

Lewis Howes 1:27:45 And I think, I'm getting chills thinking about it-

Rachel Rodgers 1:27:47 [laughs]

Lewis Howes 1:27:47 ... I'm like, man, that'd be fun.

Rachel Rodgers 1:27:48 [laughs]

Lewis Howes 1:27:49 But it's, um, I think those meaningful missions, uh, once you've like, okay, we just keep making more money, and everyone's making more money now as a team. We're, we're giving out dope checks to everyone, and w- we're thriving in this. Now how can we take it to another level?

Rachel Rodgers 1:28:01 Exactly.

Lewis Howes 1:28:02 And you don't have to. You don't have to work that hard and, like, show up that way. You can be where you're at and be happy there, but I think as a person that wants to grow and impact at a bigger level-

Rachel Rodgers 1:28:12 Yeah

Lewis Howes 1:28:12 ... I think that would be the next level for you, potentially.

Rachel Rodgers 1:28:15 Yeah.

Lewis Howes 1:28:15 Maybe it doesn't need to be 1,000 women next year. Maybe it can be 100. You know, it doesn't have to be, like, this-

Rachel Rodgers 1:28:19 Yeah

Lewis Howes 1:28:19 ... grandiose project.

Rachel Rodgers 1:28:21 I like grandiose projects.

Lewis Howes 1:28:22 I hear you.

Rachel Rodgers 1:28:22 [laughs] I like big-

Lewis Howes 1:28:24 That's exciting

Rachel Rodgers 1:28:24 ... audacious goals.

Lewis Howes 1:28:26 But let me ask you this, Rachel. If it was New Year's Eve next year, 2022, is it still 2021? I don't even remember sometimes.

Rachel Rodgers 1:28:33 [laughs] Yes.

Lewis Howes 1:28:35 2022, it's New Year's Eve. You're with your husband and your four kids and your 3,000 horses-

Rachel Rodgers 1:28:40 [laughs]

Lewis Howes 1:28:41 ... on your b- out in your barn. You're sitting there, taking a ride on each one all night-

Rachel Rodgers 1:28:46 [laughs]

Lewis Howes 1:28:46 ... reflecting on the year, or you're on your beach house in North Carolina, and you're reflecting on the year. And let's say you in some way impacted funding 1,000 moms with some part of this process.

Rachel Rodgers 1:28:57 Yes.

Lewis Howes 1:28:58 How would that make you feel?

Rachel Rodgers 1:28:59 Oh, I'd be on top of the world. I'd be like, I'd be like, "I did it," you know?

Lewis Howes 1:29:05 Yeah.

Rachel Rodgers 1:29:05 And then I'd be like, "Okay, how can we, how can we serve another thousand-

Lewis Howes 1:29:09 Mm

Rachel Rodgers 1:29:09 ... next year?"

Lewis Howes 1:29:10 Yeah.

Rachel Rodgers 1:29:11 So I think it's, it's almost like what you're making me think of is the truth is that you have to make money to free yourself so that you can do what matters to you-

Lewis Howes 1:29:21 Mm-hmm

Rachel Rodgers 1:29:22 ... more than anything else.

Lewis Howes 1:29:23 Yes.

Rachel Rodgers 1:29:23 You know?

Lewis Howes 1:29:24 And why does that matter to you?

Rachel Rodgers 1:29:26 Because I want Black people to have money.

Lewis Howes 1:29:29 Yeah.

Rachel Rodgers 1:29:29 And I want to make it easier for them. Um, I want to take away some of the burden so that they could recognize, like, if I just have a minute to think, if I have a little bit of space, you know-

Lewis Howes 1:29:41 Mm-hmm

Rachel Rodgers 1:29:41 ... financial space, right, like time, um, then I can create any number of things.

Lewis Howes 1:29:48 Mm-hmm.

Rachel Rodgers 1:29:48 They could do exactly what I did. They could do bigger and better things than I did.

Lewis Howes 1:29:51 Yeah.

Rachel Rodgers 1:29:51 Um, but you just need, sometimes you just need that little bit of support, and I wanna be that support, without making them fill out 12,000 forms-

Lewis Howes 1:30:00 Mm

Rachel Rodgers 1:30:00 ... and, you know, [laughs] go to every government office and all of these things. I just wanna make it, I wanna make it more likely and a little bit easier for them-

Lewis Howes 1:30:08 Mm

Rachel Rodgers 1:30:09 ... take away some of the burden. 'Cause I can, right? So, like, why, why not?

Lewis Howes 1:30:12 Yeah.

Rachel Rodgers 1:30:13 Um, and I'm sure that there's, there's a million ways that I've thought of sort of solving this wealth chasm in our country. Um, and that's the first one.

Lewis Howes 1:30:22 That's great.

Rachel Rodgers 1:30:22 That's just my first thought.

Lewis Howes 1:30:23 Stage, season one.

Rachel Rodgers 1:30:25 Yes.

Lewis Howes 1:30:25 Yes.

Rachel Rodgers 1:30:25 Exactly. [laughs]

Lewis Howes 1:30:27 1,000 moms, and then the next season of life, we'll figure out what can we do next.

Rachel Rodgers 1:30:30 Yes.

Lewis Howes 1:30:31 I think it's beautiful. Have you done this with any moms yet?

Rachel Rodgers 1:30:34 No.

Lewis Howes 1:30:35 So what would it take for a mom listening or watching right now to be the one of the first people that you support before the end of the year?

Rachel Rodgers 1:30:43 Oh, wow.

Lewis Howes 1:30:43 What would that take for you to, whether it be the 500 or 1,000 as a d- maybe they are gonna have a, a child in the next four or five months. Maybe they just had a child and they're, you know, they're not sleeping right now. What would it take for someone watching and listening to be that first person-

Rachel Rodgers 1:30:58 Yeah

Lewis Howes 1:30:58 ... for you to start this process?

Rachel Rodgers 1:31:00 Yeah. You know what? This is actually what I have imposter syndrome about.

Lewis Howes 1:31:04 Mm.

Rachel Rodgers 1:31:04 You know? Is what you're making me realize. Like, I know how to build a business and make money, but building a nonprofit and doing it right-

Lewis Howes 1:31:11 Mm

Rachel Rodgers 1:31:11 ... and not screwing it up, I'm really nervous about that. [laughs]

Lewis Howes 1:31:14 So let's, let's just say you're gonna help one mom.

Rachel Rodgers 1:31:16 Yeah.

Lewis Howes 1:31:17 And this mom is watching and listening right now-

Rachel Rodgers 1:31:19 Oh, I love it

Lewis Howes 1:31:19 ... to this. Where would they need to contact, where, who could they email?

Rachel Rodgers 1:31:23 Yes.

Lewis Howes 1:31:23 What should they need to say? We're gonna make this on the fly.

Rachel Rodgers 1:31:27 Yeah.

Lewis Howes 1:31:27 It doesn't have to be perfect.

Rachel Rodgers 1:31:28 Okay, so you know what I would do.

Lewis Howes 1:31:29 How can they apply for this in their own way? Do they send a video? Do they s- do they write you an email?

Rachel Rodgers 1:31:34 Yes.

Lewis Howes 1:31:34 Do they post this on Instagram and say, "Rachel, I'm a perfect person for this," or, "I know someone who's perfect for this." How do I get involved and, and receive this?

Rachel Rodgers 1:31:43 Yes. Okay. Well, I mean, we could do an email. I wouldn't wanna make them do a video.

Lewis Howes 1:31:48 Okay.

Rachel Rodgers 1:31:48 That's too much.

Lewis Howes 1:31:49 Okay.

Rachel Rodgers 1:31:49 It's like we don't got time for that.

Lewis Howes 1:31:50 Okay.

Rachel Rodgers 1:31:51 Jumping through hoops. [laughs] But I think what I imagine doing in this nonprofit is really just having a type form.

Lewis Howes 1:31:57 Okay.

Rachel Rodgers 1:31:57 Like having a simple application that people fill out. Um, we create, like, you know, some internal, like, here's, here's how we choose the moms that we're gonna serve.

Lewis Howes 1:32:08 Give me a link that you can say right now that you'll make in the next-

Rachel Rodgers 1:32:11 [laughs]

Lewis Howes 1:32:12 ... couple days that'll be up by the time this-

Rachel Rodgers 1:32:14 You really put me on the spot.

Lewis Howes 1:32:15 What's-

Rachel Rodgers 1:32:16 I love it though. Okay

Lewis Howes 1:32:16 ... what's the, what's the link? Helloseven.co/ what, mom?

Rachel Rodgers 1:32:20 Yes.

Lewis Howes 1:32:20 M-O-M or moms? What do you want?

Rachel Rodgers 1:32:22 Moms.

Lewis Howes 1:32:22 Moms.

Rachel Rodgers 1:32:23 Yes.

Lewis Howes 1:32:23 Helloseven.co/moms. By the time you're listening or watching this, there will be a form-

Rachel Rodgers 1:32:29 Yes

Lewis Howes 1:32:29 ... you can go to that will show you the step-by-step approach to apply-

Rachel Rodgers 1:32:33 Yes

Lewis Howes 1:32:33 ... what to fill out, and you'll, you'll have the next week to figure this out.

Rachel Rodgers 1:32:37 I love it. I'm down.

Lewis Howes 1:32:38 So-

Rachel Rodgers 1:32:38 Let's do it

Lewis Howes 1:32:39 ... Rachel's committing to this. If you guys are excited about this, and spread the word to all moms who are about to be moms, who are, you know, just getting pregnant and they're about, they're going through the scary process-

Rachel Rodgers 1:32:50 Yes

Lewis Howes 1:32:50 ... who are just about to have kids. Um, as she's figuring out this process, go to helloseven.co/moms, and she's gonna commit hopefully-

Rachel Rodgers 1:33:00 I am committed

Lewis Howes 1:33:00 ... before the end of this year to at least supporting one mom in figuring this process out-

Rachel Rodgers 1:33:04 Yes

Lewis Howes 1:33:05 ... over the next few months while she figures the process out. It's not gonna be perfect, and so for the next year she can continue to grow in whatever this is gonna be.

Rachel Rodgers 1:33:13 I love it.

Lewis Howes 1:33:14 Whether it's one or 1,000 moms.

Rachel Rodgers 1:33:15 We'll do, we'll do 10.

Lewis Howes 1:33:16 She's committed to doing-

Rachel Rodgers 1:33:17 10 before the end of the year

Lewis Howes 1:33:17 ... she's committed to doing 10 before the end of the year.

Rachel Rodgers 1:33:19 Yes.

Lewis Howes 1:33:19 So if that excites you, then make sure to message Rachel over on Instagram and, and, uh, send her a message over there and, uh, give her some encouragement to keep going as she feels like an imposter in this stage, in this season. Um, and send her a message over on, on Instagram. Is that your main place, Instagram?

Rachel Rodgers 1:33:37 That's where I hang out.

Lewis Howes 1:33:38 Is it Rachel Rodgers there on Instagram, or is it-

Rachel Rodgers 1:33:40 It's rachrodgersesq.

Lewis Howes 1:33:41 Rachrodgersesq.

Rachel Rodgers 1:33:43 Yes.

Lewis Howes 1:33:44 Money mom Rodgers. I like it.

Rachel Rodgers 1:33:45 [laughs]

Lewis Howes 1:33:46 Um, helloseven.co/moms. We'll link it up in the description as well. What does that, what would that make you feel like supporting one mom?

Rachel Rodgers 1:33:57 I mean, it would feel great.

Lewis Howes 1:34:00 Yeah.

Rachel Rodgers 1:34:00 It would just feel like I'm creating possibility in other people's lives.

Lewis Howes 1:34:03 Yeah.

Rachel Rodgers 1:34:04 So, and it's also feels like you need... Like, like you were saying, when you're, when you're running a $10 million business, what, you have to have a reason to grow, right?

Lewis Howes 1:34:12 Right.

Rachel Rodgers 1:34:12 'Cause you, you're a-

Lewis Howes 1:34:13 Not just more money for yourself.

Rachel Rodgers 1:34:14 Yeah. You can just keep maintaining it, right?

Lewis Howes 1:34:16 Yeah.

Rachel Rodgers 1:34:16 Like, I could keep the same team, pay the team, keep the same amount of clients, serve them. There's no reason that I have to grow.

Lewis Howes 1:34:23 Should people wanna grow in their business, or is it okay if they're like, "You know what? I'm happy making, you know, a million dollars a year in my business, and I've got 10 people on my team, and-

Rachel Rodgers 1:34:32 Yeah

Lewis Howes 1:34:32 ... we're, you know, we're happy here"?

Rachel Rodgers 1:34:34 I think that's okay, and I think the reality is it's all seasons, right?

Lewis Howes 1:34:38 Yes.

Rachel Rodgers 1:34:38 Like, there are times where you're like, "I'm content. I'm not in the mood to hustle."

Lewis Howes 1:34:42 Yeah.

Rachel Rodgers 1:34:42 Like, [laughs] I don't really wanna figure out how to scale it right now. I'm just gonna just coast and enjoy it right now.

Lewis Howes 1:34:47 Yeah.

Rachel Rodgers 1:34:47 And you're gonna have that, and then you might have a time where you're like, "I'm bored with that. Now let's go."

Lewis Howes 1:34:51 Let's go.

Rachel Rodgers 1:34:52 "Let's go do some th- some big things."

Lewis Howes 1:34:53 Let's create. Let's build.

Rachel Rodgers 1:34:54 Yes.

Lewis Howes 1:34:54 Let's make.

Rachel Rodgers 1:34:55 Exactly.

Lewis Howes 1:34:55 Let's serve. Yeah.

Rachel Rodgers 1:34:56 Yes.

Lewis Howes 1:34:56 That's cool. I like that.

Rachel Rodgers 1:34:57 But I think having... You know, this is why I wrote this book, and this is why I want women to fir- focus on their money, really pay attention to their money, um, and really look at the possibility of becoming a millionaire because I want them to have financial power. When we have financial, economic power-

Lewis Howes 1:35:17 Mm-hmm

Rachel Rodgers 1:35:17 ... we can create change-

Lewis Howes 1:35:19 Mm. Mm

Rachel Rodgers 1:35:19 ... including backing political candidates that we believe in, right? Funding nonprofits, um, helping other people, creating scholarships. I mean, there's all these different ways, but we can have a more powerful voice when we have money, right?

Lewis Howes 1:35:33 Mm.

Rachel Rodgers 1:35:33 It's a tool that allows us to show up. Uh, for example, you know, I have friends who are activists, and when they're raising money, they can come my way and I'm definitely writing them a check.

Lewis Howes 1:35:41 Yeah.

Rachel Rodgers 1:35:41 You know? And just having that ability, like, it's... I feel like it costs me nothing. Like, there's money out of my bank account. It doesn't cost me any time, you know, but I get to, because of what I've created in the world, I can write this check that they can then go do this important work.

Lewis Howes 1:35:56 Uh-huh.

Rachel Rodgers 1:35:56 Right? So, like, that's, that's really it coming full circle, right? We need to take care of ourselves, but we also need to impact the world in a positive way. And the, we live in a world that is not equitable.

Lewis Howes 1:36:07 Mm.

Rachel Rodgers 1:36:08 And I think when more marginalized people have money, it will become more equitable. We'll have more economic power, and we can see the change we wanna see in the world.

Lewis Howes 1:36:16 Yeah. So what are the next three moves you need to make to, to f- empower yourself for this, this season?

Rachel Rodgers 1:36:23 Yeah.

Lewis Howes 1:36:24 Um, just-

Rachel Rodgers 1:36:24 Well, I need to go create that type form. [laughs]

Lewis Howes 1:36:26 Yeah. Okay. That's step one.

Rachel Rodgers 1:36:28 Or talk to my team about creating it.

Lewis Howes 1:36:30 Yeah.

Rachel Rodgers 1:36:30 Um, what do I need to do next?

Lewis Howes 1:36:32 What's the nonprofit tentative working name gonna be called?

Rachel Rodgers 1:36:35 Uh, it's just called the Hello Seven Foundation.

Lewis Howes 1:36:37 Okay.

Rachel Rodgers 1:36:38 Um, that's what I went with for now, and honestly, I'm creating it because I'm good at making money. So I feel like I've raised money last year for different causes, and I was like, "Oh, turns out I'm good at raising money. Let's do this."

Lewis Howes 1:36:48 Mm-hmm.

Rachel Rodgers 1:36:49 So I really just wanna have a place to put money in people's pockets. I don't really necessarily... There's not gonna be a service that we deliver through the nonprofits. It's really about getting money and giving it out directly.

Lewis Howes 1:37:00 And executing it. Yeah.

Rachel Rodgers 1:37:01 Yes. Exactly. Um, so, so that's one thing.

Lewis Howes 1:37:06 Right. Okay.

Rachel Rodgers 1:37:06 [laughs] Okay. What else do I need-

Lewis Howes 1:37:08 You need someone to, you need someone to manage it, and run it, and start it, and build it?

Rachel Rodgers 1:37:10 Yes, I think I do. Um, and I think that's... it's all so daunting. So-

Lewis Howes 1:37:15 Yeah

Rachel Rodgers 1:37:15 ... and you know what's so funny is what I've been thinking about for a long time is, like, I have two friends who I need to talk to who are experts in this space.

Lewis Howes 1:37:21 You haven't talked to them yet?

Rachel Rodgers 1:37:21 And I just need to schedule that call.

Lewis Howes 1:37:23 Yeah.

Rachel Rodgers 1:37:23 You know?

Lewis Howes 1:37:24 So can you send them a voice message right after this?

Rachel Rodgers 1:37:27 Yes.

Lewis Howes 1:37:27 A voice note.

Rachel Rodgers 1:37:28 Yep.

Lewis Howes 1:37:29 Or FaceTime them right as you leave here?

Rachel Rodgers 1:37:31 I will.

Lewis Howes 1:37:31 In the car back to your hotel, just call one of them and see what they say.

Rachel Rodgers 1:37:34 Yeah. I'm gonna call both.

Lewis Howes 1:37:36 Okay.

Rachel Rodgers 1:37:36 Um-

Lewis Howes 1:37:36 See who picks up.

Rachel Rodgers 1:37:37 Yes, exactly.

Lewis Howes 1:37:38 [laughs]

Rachel Rodgers 1:37:39 And yes.

Lewis Howes 1:37:40 Okay. That's step two.

Rachel Rodgers 1:37:40 Thank you for stopping me from procrastinating on that. [laughs]

Lewis Howes 1:37:42 That's step two, and then what's the third step?

Rachel Rodgers 1:37:44 What's the third step that I need to do to empower myself in this season?

Lewis Howes 1:37:49 To overcome the, the, the fear or the resistance of-

Rachel Rodgers 1:37:53 Yeah

Lewis Howes 1:37:53 ... launching.

Rachel Rodgers 1:37:54 You know what I think I need to do? I think I'm doing it on this trip. Um, just being around-

Lewis Howes 1:37:59 Mm-hmm

Rachel Rodgers 1:37:59 ... more of my peers.

Lewis Howes 1:38:00 Yeah.

Rachel Rodgers 1:38:01 Because, you know, it's like you, you know, I have a lot of friends that I was growing businesses with, and some of them have paused or sold their companies or whatever, and there's not a lot of peers or friends that I have that are in the place that I'm at. And just, like, coming out here-

Lewis Howes 1:38:13 Mm

Rachel Rodgers 1:38:13 ... and just calling people and saying, "Hey, you wanna get dinner?" Or coming and doing this show, right?

Lewis Howes 1:38:17 Yeah.

Rachel Rodgers 1:38:17 Like, doing those things and talking to people who are at that same level, dealing with those same challenges, um, and just being reminded that I can do it this next phase.

Lewis Howes 1:38:26 Yeah.

Rachel Rodgers 1:38:26 You know what I mean? That it's, that it's doable, it's not daunting, and there's a reason to do it.

Lewis Howes 1:38:31 Mm-hmm.

Rachel Rodgers 1:38:32 You know?

Lewis Howes 1:38:32 Yeah.

Rachel Rodgers 1:38:32 I think that's, that's the other piece of it.

Lewis Howes 1:38:35 Who are three people you can call today and ask for a $100,000 check?

Rachel Rodgers 1:38:38 [laughs] Okay. You want me to say their names? [laughs]

Lewis Howes 1:38:42 Do you have their names in your mind?

Rachel Rodgers 1:38:44 Yeah. [laughs] I-

Lewis Howes 1:38:44 If you don't wanna say their name, then you don't have to, but...

Rachel Rodgers 1:38:46 I'm like, I'm gonna be putting them on the spot. [laughs]

Lewis Howes 1:38:48 But who can you call today and say, "I'm launching this charity. We're gonna serve a hu- a thousand moms this next year-

Rachel Rodgers 1:38:55 Yeah

Lewis Howes 1:38:55 ... doing these three services." Maybe it's gonna, uh, be adjusted. "I'm putting in the first 100,000. Will you match it?"

Rachel Rodgers 1:39:02 Yeah.

Lewis Howes 1:39:02 Let's, let's get the, let's get to 200,000 by today.

Rachel Rodgers 1:39:05 Yes.

Lewis Howes 1:39:06 If you're like, "Hey, we're gonna give at least 100,000," and we're gonna... You're assuming you're gonna do more.

Rachel Rodgers 1:39:10 Yeah.

Lewis Howes 1:39:10 But let's just say I'm gonna s- you're gonna kickstart it with 100,000 for your own nonprofit.

Rachel Rodgers 1:39:15 Yes

Lewis Howes 1:39:15 And get three other people to give you 100,000 that you are, you know-

Rachel Rodgers 1:39:20 Yeah

Lewis Howes 1:39:20 ... have close relationships with. Maybe people that would be, like, all about this.

Rachel Rodgers 1:39:24 The first person that I would actually call is Arlan Hamilton. [laughs]

Lewis Howes 1:39:27 I knew you were gonna say that. Can you call her today and ask for $100,000?

Rachel Rodgers 1:39:31 I could. Yes, I could do that. [laughs]

Lewis Howes 1:39:34 Is that too big of an ask for you?

Rachel Rodgers 1:39:36 No, it's not.

Lewis Howes 1:39:37 To serve moms.

Rachel Rodgers 1:39:38 I mean, well, this is a new, "You know what? I could do that 100 rejections project."

Lewis Howes 1:39:43 Absolutely.

Rachel Rodgers 1:39:43 You know? And just have a, you know, just make a list of 100 names and start going down it and see who, see who will say yes.

Lewis Howes 1:39:49 Absolutely.

Rachel Rodgers 1:39:50 And say, like, "Okay, if 100,000 is too much, can you give me 50? What about 10?"

Lewis Howes 1:39:54 Mm-hmm. Or start at a million.

Rachel Rodgers 1:39:55 Yeah. [laughs]

Lewis Howes 1:39:55 And ask for 100.

Rachel Rodgers 1:39:57 Yes. [laughs]

Lewis Howes 1:39:57 You're laughing, but why is that, why is that a shock?

Rachel Rodgers 1:40:01 I mean...

Lewis Howes 1:40:02 If so- someone... People have $100 million out there.

Rachel Rodgers 1:40:05 Yeah. No, that's true.

Lewis Howes 1:40:06 You know?

Rachel Rodgers 1:40:06 I don't have a lot-

Lewis Howes 1:40:06 And they've got access to funds

Rachel Rodgers 1:40:07 ... I don't have a lot of personal friends that have that kind of money, or at least I don't think I do, maybe.

Lewis Howes 1:40:12 You never know until you ask.

Rachel Rodgers 1:40:13 That's true.

Lewis Howes 1:40:13 Maybe you're not having those conversations in the beginning like we talked about.

Rachel Rodgers 1:40:16 Yes.

Lewis Howes 1:40:16 How much money you got in the bank?

Rachel Rodgers 1:40:17 [laughs]

Lewis Howes 1:40:18 How can I get some of that to serve some moms?

Rachel Rodgers 1:40:20 Exactly.

Lewis Howes 1:40:20 What do you have? What do you care about? What do you wanna work on to help more people?

Rachel Rodgers 1:40:24 Yes.

Lewis Howes 1:40:24 You got $50 million in the bank, how can we serve people together?

Rachel Rodgers 1:40:27 Yes.

Lewis Howes 1:40:27 Do you care about moms? 'Cause that's what I'm about.

Rachel Rodgers 1:40:29 Yeah.

Lewis Howes 1:40:30 Let's do this together.

Rachel Rodgers 1:40:31 Yeah.

Lewis Howes 1:40:31 I'll work... I got the team. You just help me fundraise.

Rachel Rodgers 1:40:35 Yeah.

Lewis Howes 1:40:35 It doesn't have to be all your money.

Rachel Rodgers 1:40:37 Yeah. I think we could do it.

Lewis Howes 1:40:39 But there's three people in your mind that you can think of that you could call today and ask for at least 100 grand?

Rachel Rodgers 1:40:43 Yeah, and see.

Lewis Howes 1:40:43 And see if you get something. I want you to text me tonight and see how much money you raise by tonight.

Rachel Rodgers 1:40:48 Okay. Sounds good. I like it.

Lewis Howes 1:40:50 By tonight, tell me how much of... Call these three people.

Rachel Rodgers 1:40:52 I'm gonna call these three people.

Lewis Howes 1:40:53 And see how much you can raise.

Rachel Rodgers 1:40:54 Okay.

Lewis Howes 1:40:55 I bet you can get at least 50,000 by tonight.

Rachel Rodgers 1:40:57 I think so, too.

Lewis Howes 1:40:58 At least.

Rachel Rodgers 1:40:59 I think so, too.

Lewis Howes 1:41:00 And have a form up in a day if you wanted to. You could text your team and say, "Create a form with 5 questions, 10 questions."

Rachel Rodgers 1:41:07 Yes.

Lewis Howes 1:41:07 You call these two friends who have the nonprofits, uh, experience-

Rachel Rodgers 1:41:11 Yes

Lewis Howes 1:41:11 ... and call three to five, uh, potential donors.

Rachel Rodgers 1:41:15 I like it.

Lewis Howes 1:41:16 In 24 hours.

Rachel Rodgers 1:41:16 Okay. Let's do it.

Lewis Howes 1:41:18 You got it. [laughs] You gotta text me tonight.

Rachel Rodgers 1:41:20 Listen, I love a challenge.

Lewis Howes 1:41:22 Okay, good.

Rachel Rodgers 1:41:22 [laughs]

Lewis Howes 1:41:23 But I think, I think in general, most people don't challenge themselves to actually launch the thing they wanna do.

Rachel Rodgers 1:41:29 Yes.

Lewis Howes 1:41:29 Or they keep waiting and waiting.

Rachel Rodgers 1:41:31 They think about it too long, and I-

Lewis Howes 1:41:32 How long have you been thinking about this?

Rachel Rodgers 1:41:33 Oh, at least a year.

Lewis Howes 1:41:35 Really?

Rachel Rodgers 1:41:36 Mm-hmm. If not longer.

Lewis Howes 1:41:37 And why have you yet to even create a form or a process or help one mom yet? What did, what would you say are the, the three things that have been holding you back?

Rachel Rodgers 1:41:45 Uh, fear of doing it wrong.

Lewis Howes 1:41:47 Okay.

Rachel Rodgers 1:41:47 Um, I think that's it. [laughs]

Lewis Howes 1:41:51 Really?

Rachel Rodgers 1:41:52 Yes. I think it's fear. I think it's, like, I don't know, you know, trying to sell other people on it, you know? Like, the, the financial people in my life, talking to them about what I wanna do and how to start setting this up, and them sort of saying, "This is a slow thing, not a fast thing." But that's not how I... I'm a quick start.

Lewis Howes 1:42:13 Yeah.

Rachel Rodgers 1:42:13 Like, I, I, I like to move quickly. So I think it is true that sometimes when you think too much about an idea, hold onto it too long in your head, it's, it starts to die, right?

Lewis Howes 1:42:25 Yeah. Or just keep prolonging it, as opposed to acting on it.

Rachel Rodgers 1:42:28 Exactly.

Lewis Howes 1:42:28 Yeah.

Rachel Rodgers 1:42:28 Like a raisin in the sun, right? Dream fr-

Lewis Howes 1:42:31 Yes

Rachel Rodgers 1:42:31 ... frizzle- frizzles up, so.

Lewis Howes 1:42:32 Yes.

Rachel Rodgers 1:42:33 Yeah. I like this challenge. Thank you for that.

Lewis Howes 1:42:35 Of course. I know you're gonna manifest and make this all happen.

Rachel Rodgers 1:42:38 Yes.

Lewis Howes 1:42:38 And even if it's, you know, whether it's 1,000 moms or one mom-

Rachel Rodgers 1:42:42 Mm

Lewis Howes 1:42:42 ... you're gonna change someone's life in this process, and it's not gonna be perfect, and it's gonna get better over time.

Rachel Rodgers 1:42:48 Yes.

Lewis Howes 1:42:48 You just gotta be aware of that.

Rachel Rodgers 1:42:49 You're so, you're so right.

Lewis Howes 1:42:50 You're gonna, you're gonna mess it up. You're gonna hurt some people's feelings. You're gonna overget... You know, there's gonna be things you're gonna do that aren't perfect.

Rachel Rodgers 1:42:56 Yes.

Lewis Howes 1:42:56 But it doesn't need to be perfect. When your heart is on... My friend says, "It's hard to be nervous when your heart's on service."

Rachel Rodgers 1:43:02 Yes.

Lewis Howes 1:43:03 My friend Rory Vaden says that, "It's hard to be nervous when your heart's on service."

Rachel Rodgers 1:43:06 I love it. It's so true.

Lewis Howes 1:43:07 And if you're focused on, ah, uh, everyone's gonna laugh at me, or failure-

Rachel Rodgers 1:43:11 I'm gonna do it wrong

Lewis Howes 1:43:11 ... or rejection.

Rachel Rodgers 1:43:12 Yes.

Lewis Howes 1:43:12 Ah, I didn't do it the right way, or I didn't use the money the right way, like, as opposed to we're here to help moms. That's our mission.

Rachel Rodgers 1:43:18 Yes.

Lewis Howes 1:43:19 Or women, you know. We're here to serve women, and this is one thing in our charity that we're gonna do in this first year.

Rachel Rodgers 1:43:24 Yes.

Lewis Howes 1:43:25 And this is our intention, and it's not gonna be perfect, but we're gonna give it our best.

Rachel Rodgers 1:43:29 That's right.

Lewis Howes 1:43:29 That's a success.

Rachel Rodgers 1:43:30 I agree.

Lewis Howes 1:43:31 It's a huge success.

Rachel Rodgers 1:43:32 Yeah.

Lewis Howes 1:43:33 Who else is doing this?

Rachel Rodgers 1:43:34 And you know what's so funny? What I've been thinking about recently is that I need to do this for, for my clients and do it imperfectly.

Lewis Howes 1:43:41 Mm.

Rachel Rodgers 1:43:41 Because I know so many of them want to do similar things, and they probably have the same fears, you know? And it's like-

Lewis Howes 1:43:49 You're not challenging them like this, are you?

Rachel Rodgers 1:43:51 Yeah. Every, every single thing that you're saying is exactly what I say to my clients-

Lewis Howes 1:43:54 Okay

Rachel Rodgers 1:43:54 ... when they tell me why they can't do the thing-

Lewis Howes 1:43:57 Right

Rachel Rodgers 1:43:57 ... that they wanna do.

Lewis Howes 1:43:58 Right.

Rachel Rodgers 1:43:58 So it's, sometimes you just need somebody to reflect it back.

Lewis Howes 1:44:01 I got you, girl. I got you, girl. [laughs] But you're a pow- you're a powerhouse, and you've created something that's really inspiring, especially f- I mean, for anyone, but for women, it's really inspiring to see, to be a witness to see what you've created-

Rachel Rodgers 1:44:16 Yeah

Lewis Howes 1:44:16 ... in your business and in your life. To be a mom of four kids, to be able to invest in things you wanna invest in, to be healthy, happy yourself and not trying to be anyone else-

Rachel Rodgers 1:44:26 Yeah

Lewis Howes 1:44:26 ... is a gift to the world that you've showcased. You're a symbol of what's possible for so many people out there. And so I just think it's inspiring, and if there's something that you can do to help more people, and you want to do it, then I'm here to support it the best way I can and push that further.

Rachel Rodgers 1:44:44 Yes.

Lewis Howes 1:44:44 So, um, I'm excited for you.

Rachel Rodgers 1:44:46 Yeah.

Lewis Howes 1:44:47 I-

Rachel Rodgers 1:44:47 I'm excited too.

Lewis Howes 1:44:48 I'm excited. And maybe this will-

Rachel Rodgers 1:44:49 Thanks for the push

Lewis Howes 1:44:49 ... of course. And maybe this will give you that, that new energy-

Rachel Rodgers 1:44:52 Yes

Lewis Howes 1:44:52 ... that you're looking to create for next year, 2022.

Rachel Rodgers 1:44:55 Totally.

Lewis Howes 1:44:56 I'm all about it.

Rachel Rodgers 1:44:57 Yeah, me too.

Lewis Howes 1:44:57 Do you think being of service and having a mission around this will help you get to 20 million faster or slower?

Rachel Rodgers 1:45:05 Probably [laughs] a lot faster.

Lewis Howes 1:45:06 Why?

Rachel Rodgers 1:45:07 Because I think 'cause the 20 million is just kinda like, it's just a number. It's like, it doesn't really change anything.

Lewis Howes 1:45:14 Mm-hmm.

Rachel Rodgers 1:45:14 Like, maybe there's more things I can invest in, maybe I can donate a little bit more to, like, just to other organizations or whatever, but it's not, um, in and of itself inspiring, right?

Lewis Howes 1:45:25 Mm.

Rachel Rodgers 1:45:25 Like, there's a certain point at which you're just well off, you're comfortable. You don't need it. It's not driving-

Lewis Howes 1:45:33 Yes

Rachel Rodgers 1:45:33 ... the number in and of itself doesn't drive anything. If I think about the clients that it represents and that number of people being served and getting results, that is exciting, um, but this is even more exciting than that [laughs] you know?

Lewis Howes 1:45:48 So getting to 20 million and serving more clients who are investing in your offering-

Rachel Rodgers 1:45:52 Right

Lewis Howes 1:45:53 ... is one level of excitement.

Rachel Rodgers 1:45:55 Yes.

Lewis Howes 1:45:55 But it's not changing your life necessarily more with that much more money.

Rachel Rodgers 1:45:59 Yeah.

Lewis Howes 1:45:59 You can buy a few more things and invest more, but you're living the same lifestyle essentially.

Rachel Rodgers 1:46:03 Exactly.

Lewis Howes 1:46:04 But having a deeper mission makes it more exciting-

Rachel Rodgers 1:46:07 Totally

Lewis Howes 1:46:07 ... to serve on a deeper level.

Rachel Rodgers 1:46:09 That's right. And also, again, 'cause remember, it's that showcase, right? So, like, being able to show that example of bringing-

Lewis Howes 1:46:16 Mm

Rachel Rodgers 1:46:16 ... it full circle. Like, you start where you start-

Lewis Howes 1:46:19 Mm

Rachel Rodgers 1:46:19 ... and you get your way to a certain level, and then you can start to give back in a huge way.

Lewis Howes 1:46:25 Mm-hmm.

Rachel Rodgers 1:46:25 Um, and that's really exciting. And just being able to model doing it imperfectly I think is so important because my clients see it. They're such action takers.

Lewis Howes 1:46:33 Yes.

Rachel Rodgers 1:46:33 They're gonna, they're gonna choose something that they really care about and be like, "You know what? You've just inspired me. Now I'm gonna go do my thing."

Lewis Howes 1:46:39 Imperfectly.

Rachel Rodgers 1:46:40 Yes.

Lewis Howes 1:46:41 And figure it out along the way.

Rachel Rodgers 1:46:42 Right, and that's the stuff that gets me to do things, right? Like, when I'm like, "Oh, I'm scared. I don't want to, blah, blah, blah," but then I just think about the people that it's going to help and the people that are going to be inspired by it and be able to then take action, like being a model, right? Like, let me, let me be the guinea pig. Let me do it wrong. [laughs] Let me mess it up-

Lewis Howes 1:47:00 Right, right, right

Rachel Rodgers 1:47:01 ... and show you that I'm still alive, right? I'm okay. I made it through, you know? So then you can too.

Lewis Howes 1:47:06 Mm-hmm. Absolutely.

Rachel Rodgers 1:47:07 So yeah.

Lewis Howes 1:47:08 That's great.

Rachel Rodgers 1:47:08 Being willing to be the first, I think.

Lewis Howes 1:47:10 So you got a voice note to someone on your team to set up an assessment.

Rachel Rodgers 1:47:13 Yes. Give 'em my to-do list. [laughs]

Lewis Howes 1:47:15 And then you can, you can update that as... You can make it better over, you know, over the next few weeks, but you've got at least a form.

Rachel Rodgers 1:47:20 Yes.

Lewis Howes 1:47:20 Helloseven.co/moms.

Rachel Rodgers 1:47:23 Yes.

Lewis Howes 1:47:23 You've got five phone calls to make, two to your friends who are nonprofit experts, and then three to investors, and you can do more if you want.

Rachel Rodgers 1:47:30 Yeah.

Lewis Howes 1:47:31 And that's your steps for today. And then the third one is to text me how much money you've raised-

Rachel Rodgers 1:47:37 Okay

Lewis Howes 1:47:37 ... before midnight.

Rachel Rodgers 1:47:38 Will do.

Lewis Howes 1:47:38 Or committed raise, uh, in commitments.

Rachel Rodgers 1:47:40 Wait, you said 24 hours. I need that full 24 hours.

Lewis Howes 1:47:42 Why?

Rachel Rodgers 1:47:42 It's late, it's late in the day.

Lewis Howes 1:47:44 Why? You're-

Rachel Rodgers 1:47:44 'Cause what if they don't have time-

Lewis Howes 1:47:45 You're limiting yourself.

Rachel Rodgers 1:47:46 [laughs] What if they just got to thinking about it?

Lewis Howes 1:47:49 What's the excuse? What's the excuse?

Rachel Rodgers 1:47:49 It's not an excuse.

Lewis Howes 1:47:51 You've been waiting for a year.

Rachel Rodgers 1:47:52 [laughs]

Lewis Howes 1:47:53 You've been waiting for a year. Life is now.

Rachel Rodgers 1:47:55 All right, all right. Midnight it is. [laughs]

Lewis Howes 1:47:57 Midnight. Text me by midnight. I'll be up.

Rachel Rodgers 1:48:00 [laughs]

Lewis Howes 1:48:01 And even if you get back to me tomorrow, that's fine.

Rachel Rodgers 1:48:03 Yeah.

Lewis Howes 1:48:03 But at least tell me what you've done by tonight.

Rachel Rodgers 1:48:05 Okay. Will do.

Lewis Howes 1:48:06 Yeah, yeah.

Rachel Rodgers 1:48:06 I look forward to it.

Lewis Howes 1:48:06 And then you can tell me more tomorrow as well.

Rachel Rodgers 1:48:08 Okay.

Lewis Howes 1:48:08 Um, this is a question I ask everyone towards the end called the three truths. So I'd like you to imagine another hyp- hypothetical scenario that it's your last day on earth many years away from now.

Rachel Rodgers 1:48:20 Okay.

Lewis Howes 1:48:20 You get to live as long as you wanna live, but eventually, uh, you gotta turn the lights out on this life.

Rachel Rodgers 1:48:25 Mm-hmm.

Lewis Howes 1:48:26 And you've accomplished all your dreams. You've served millions of moms at this point, or whatever that level of service is, you've done it. You've got the family. You've got everything you've done, you wanted to do, you did it.

Rachel Rodgers 1:48:39 Yes.

Lewis Howes 1:48:40 Lived a great life. Uh, but for whatever reason, we don't have access to any of your materials, your work, your message-

Rachel Rodgers 1:48:46 Mm

Lewis Howes 1:48:46 ... this interview, the courses. For whatever reason, it's gotta go to somewhere-

Rachel Rodgers 1:48:50 Right

Lewis Howes 1:48:50 ... with you or somewhere else. Uh, but you get to leave behind, uh, three truths, three things-

Rachel Rodgers 1:48:57 Okay

Lewis Howes 1:48:57 ... you know to be true about your life, your experience that you would wanna share with the world. This is all we would have from your lessons to live by.

Rachel Rodgers 1:49:05 Okay.

Lewis Howes 1:49:05 Are these three truths.

Rachel Rodgers 1:49:07 No pressure. [laughs]

Lewis Howes 1:49:09 No pressure. No pressure.

Rachel Rodgers 1:49:10 [laughs]

Lewis Howes 1:49:12 They can be simple. They can be advanced. They can be whatever you want, but what would you say would be these three truths for people to live by?

Rachel Rodgers 1:49:19 Um, I would say number one is making money is easy. I want people to challenge themselves to believe that and to recognize that it absolutely can be. Um, so making money is easy. Number two, um, making money and accomplishing things is important, but your happiest moments will be doing completely boring things with people you love.

Lewis Howes 1:49:46 Mm.

Rachel Rodgers 1:49:47 So I think it's important that people remember that. My happiest moments are not really, like, on stages or, you know, whatever, when I'm getting accolades. My happiest moments are, like, sitting on the couch and my kids are cracking jokes and we're playing some silly game, [laughs] you know? Like, you're just like, "Wow, this is great."

Lewis Howes 1:50:04 Yeah.

Rachel Rodgers 1:50:04 "This is living." Um, so there's that.

Lewis Howes 1:50:07 Mm.

Rachel Rodgers 1:50:07 And then-

Lewis Howes 1:50:08 And the third?

Rachel Rodgers 1:50:09 The third The third I would want to be, if you want to impact a group of people, if you want to be an ally, you know, then put money in that, in those people's pockets. So I think there's a lot of people who do a lot of talk and performing, and it's just like, "Can we just put some money in their pockets?" [laughs] Like, let's just get down to business.

Lewis Howes 1:50:38 Sure.

Rachel Rodgers 1:50:38 Um, so I think those are three valuable truths that'll help them and help them help other people.

Lewis Howes 1:50:46 I love it. You've got this book, We Should All Be Millionaires: A Woman's Guide to Earning More, Building Wealth, and Gaining Economic Power. And there's a lot of, uh, resources, tips, strategies, action steps, charts in here that I was going through of, of shifting your beliefs and your mindset-

Rachel Rodgers 1:51:02 Yes

Lewis Howes 1:51:02 ... around money and things like that. Uh, so make sure you guys buy a copy for yourself or a friend. Get the word out about this book. Uh, inspiring stuff. We Should All Be Millionaires. You can check out the course, the program, which is called The Club. They just go to helloseven.com, .co and get all the information there-

Rachel Rodgers 1:51:19 Mm-hmm

Lewis Howes 1:51:19 ... about the program, if you wanna invest in the c- the program. If you're a mom and you wanna get support, go to helloseven.co/moms. It'll be up by that point.

Rachel Rodgers 1:51:29 Yes, it will.

Lewis Howes 1:51:30 Um, and they can follow you over on Instagram, Twitter, Facebook, all the places, and, and send Rachel a DM, uh, if you think this is a great missi- mission that she's now entering into for the next season of her, of her life and her business.

Rachel Rodgers 1:51:45 Yes.

Lewis Howes 1:51:45 Send her a-

Rachel Rodgers 1:51:46 Send me all the empowerment

Lewis Howes 1:51:46 ... send her a DM.

Rachel Rodgers 1:51:46 [laughs]

Lewis Howes 1:51:47 Send her a DM. If you have resources, if you have people that she should connect with, if you wanna donate money, DM her and let her know that you're about helping moms. Um, I think it's a great cause. Uh-

Rachel Rodgers 1:51:59 Awesome

Lewis Howes 1:51:59 ... and I wanna acknowledge you, Rachel, for, for stepping up because I think when we have created opportunities for ourself, it's important to lean into the things that might be scary and challenging for us-

Rachel Rodgers 1:52:12 Yes

Lewis Howes 1:52:12 ... to serve things that are meaningful to us.

Rachel Rodgers 1:52:14 I agree.

Lewis Howes 1:52:15 And this is meaningful for you.

Rachel Rodgers 1:52:16 Yes.

Lewis Howes 1:52:17 For me, the things that are meaningful is kids that don't have school and children that are sexually abused and sold for sex slavery.

Rachel Rodgers 1:52:25 Mm-hmm.

Lewis Howes 1:52:25 'Cause for someone that was dealing with feeling very ignorant in school my entire life and needing tutors and things like that until I graduated college-

Rachel Rodgers 1:52:34 Yeah

Lewis Howes 1:52:35 ... it's meaningful for me to help kids that have learning disabilities.

Rachel Rodgers 1:52:38 Yes.

Lewis Howes 1:52:38 And for someone that was sexually abused as a child, I feel like no child deserves to be sexually abused.

Rachel Rodgers 1:52:43 Absolutely.

Lewis Howes 1:52:43 And so there are kids, there are two million kids around the world who are being sold for sex slavery, and I feel like it's one of the worst crimes that someone could commit on a child.

Rachel Rodgers 1:52:52 I agree.

Lewis Howes 1:52:52 So for me, that's meaningful, and I put my time and resources into that.

Rachel Rodgers 1:52:56 Yes.

Lewis Howes 1:52:56 And anyone watching, listening, you should be putting time and resources into things that are meaningful for you.

Rachel Rodgers 1:53:00 I agree.

Lewis Howes 1:53:01 And I'm grateful that this is your cause-

Rachel Rodgers 1:53:03 Yes

Lewis Howes 1:53:04 ... and your level of service at this season of your life, and, uh, I'm all about it, so I wanna promote it and help it out. Um, so I acknowledge you for stepping up, Rachel, and, and doing the scary, challenging thing. You don't have to do this. You got a great life, comfortable life. You've worked your butt off for 13 plus, 15 years to develop skills, to overcome challenges, to break the mold of family life and environment, to get to where you're at now, to create a new life for yourself. You don't have to do this.

Rachel Rodgers 1:53:30 Yeah.

Lewis Howes 1:53:30 So I acknowledge you for having the courage to make phone calls in the next hour-

Rachel Rodgers 1:53:34 [laughs]

Lewis Howes 1:53:35 ... to three different investors who are gonna join in, and, and stepping up and be a leader when you don't need to.

Rachel Rodgers 1:53:41 Yes.

Lewis Howes 1:53:42 I think it's really inspiring, and it's a great, you're a great role model for so many of us.

Rachel Rodgers 1:53:45 Well, thank you.

Lewis Howes 1:53:46 So I acknowledge and appreciate you and where you're at in your life. Um, final question, what is your definition of greatness?

Rachel Rodgers 1:53:57 Uh, definition of greatness. You know what comes to mind is autonomy.

Lewis Howes 1:54:03 Mm-hmm.

Rachel Rodgers 1:54:04 Like, you know, leading in your own way, you know? Um, making the decisions in your life and not letting other people do that. I think that is the ultimate freedom, having that autonomy. And so I think that when we trust our ideas, trust our instincts, that's what's gonna lead to our own greatness.

Lewis Howes 1:54:23 Mm-hmm. Rachel Rodgers, thank you so much. Appreciate it.

Rachel Rodgers 1:54:27 Thank you for having me.

Lewis Howes 1:54:28 You may have a situation where you hated your job. I mean, statistics tell us that 68% of Americans hate their job. Uh, and some of you don't have that job anymore, so you get the opportunity to get one you like now. Uh, and you might not have done that on your own, so this could be the best thing that ever happened to you. There's a lot of good that comes out of this much pressure, uh, because it forces