Rachel Rodgers on How You Build Wealth and Abundance EP 490
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And it's such a struggle for people. I think we can want so much for other people. We can want so much for our love. We want them to be successful. We want them to have wealth. We want them to pursue their dreams and to see it all come to fruition. But for ourselves, a lot of us judge ourselves very harshly. Well, I'm not good enough or I wasn't a good son, wasn't a good daughter, or I did this one thing that one time I made these mistakes. And

And so we're so harshly judging ourselves. We think we're not deserving of a good life, right? We're not deserving of wealth or abundance or financial freedom. And so I think forgiveness is an important ritual so that we can move past that and really start to recognize that we are worthy and to recognize that the same people we want to help, we also are deserving of help.

Welcome to Passion Struck. Hi, I'm your host, John R. Miles. And on the show, we decipher the secrets, tips, and guidance of the world's most inspiring people and turn their wisdom into practical advice for you and those around you. Our mission is to help you unlock the

power of intentionality so that you can become the best version of yourself. If you're new to the show, I offer advice and answer listener questions on Fridays. We have long form interviews the rest of the week with guests ranging from astronauts to authors, CEOs, creators, innovators, scientists, military leaders, visionaries and athletes. Now let's go out there and become

Passion Struck. Hello, everyone, and welcome back to episode 490 of Passion Struck, consistently ranked one of the top alternative health podcasts in the world. A heartfelt thank you to each and every one of you who return to the show every week, eager to listen, learn, and discover new ways to live better, be better, and to make a meaningful impact in the world. If you're new to the show, thank you so much for joining us today, or you simply want to introduce this to a friend or a family member, and we so appreciate it when you do that.

We have episode starter packs, which are collections of our fans' favorite episodes that we organize in a convenient playlist, especially now that we're up to almost 500 episodes. To give any new listener a great way to get acclimated to everything we do here on the show, either go to Spotify or passionstruck.com slash starter packs to get started. In case you missed my interviews from last week, I had two great ones with Dr. Chris Kenobi and Dr. Aaron Ahuvia. Dr. Kenobi, a leading physician, nutrition researcher, and author of The Ancestral Diet, believes that the diet of our ancestors could prevent

treat and reverse chronic diseases like coronary heart disease, cancer, type 2 diabetes, Alzheimer's, and most autoimmune disorders. Join us as we delve into Dr. Kenobi's groundbreaking research that compellingly demonstrates how vegetable oils high in omega-6 fats drive numerous chronic diseases. Our second interview featured Dr. Aaron Ahuvia, the world's leading expert on brand love. As a professor of marketing at the University of Michigan-Dearborn College of Business, Dr. Ahuvia has been pioneering the study of the

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Before we dive into today's incredible episode, I have some exciting news to share about my book, Passion Struck. For the first time ever, the e-book is being discounted from $14.99 down to just 99 cents for a limited time starting August 5th. I'm also thrilled to announce that Passion Struck is a finalist for the Global Book Awards. It has already won the gold medal at the Nonfiction Book Awards and was named Best Nonfiction Book at the International Book Awards.

You can pick it up at Amazon or wherever you purchase books. Now let's get into today's amazing episode. I have the incredible privilege of welcoming Rachel Rogers, a powerhouse of empowerment, financial wisdom, and a catalyst for change. Rachel is the CEO and founder of Hello7.

a multimillion dollar company dedicated to helping diverse entrepreneurs earn more money and build wealth. Her first groundbreaking book, We Should All Be Millionaires, which launches today, sparked a revolution in mindset, inspiring thousands to reimagine their relationship with money. Her first groundbreaking book, We Should All Be Millionaires, sparked a revolution in mindset, inspiring thousands to reimagine their relationship with money.

and claim their rightful place in the realm of wealth. Now, Rachel returns with her highly anticipated companion guide, Million Dollar Action, your step-by-step guide to making wealth happen. With this new release, she doesn't just preach transformation. She provides the roadmap to do it. Rachel's mission extends beyond individual prosperity. She champions historically excluded groups, helping them to shatter financial barriers and build thriving businesses. Through Hello7, she has facilitated the rise of

hundreds of millionaires and liberated thousands from the shackles of financial insecurity. In our episode, Rachel will delve into the core principles of her million dollar action plan from the transformative power of daily rituals to the art of envisioning a million dollar future. She shares insights that transcend mere financial advice. They pave the way for a life of abundance, joy and empowerment. So get ready to be inspired and equipped with actionable strategies as we welcome Rachel Rogers.

to the PassionStruck podcast. Thank you for choosing PassionStruck and choosing me to be your host and guide on your journey to creating an intentional life now. Let that journey begin.

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Thank you so much for having me. I always like to start these episodes out by giving the audience an opportunity to get to know the guest. And I thought I'd start yours out like this. I understand when you were around eight years old, your mom was really into crime dramas and used to watch movies that had courtroom scenes and that influenced you to become a lawyer. Can you maybe lead in with that and that inspiration? Yeah.

Yes. Yeah, my mom loved a courtroom drama, a crime drama, which to be honest, I still love to this day. I just watched one last night with my husband. So I think I used to watch those as a kid and see, it was usually like the little guy is up against the corporate company or the little guy is wrongly accused or something like that. And there'd be a courtroom scene with a lawyer talking to the jury and

And speaking so passionately and defending the honor and the good name of this person that they're defending. And watching that made me want to be a lawyer because I could see myself doing that. I resonated with that, I don't know, being an advocate for someone who maybe struggles to speak up for themselves, which I've never had a problem doing. So...

So yeah, I was very drawn to it. And I was like, oh, maybe I'll become a lawyer. Because I think before that, I always thought, doctor, I wanted to do something that was well-respected, something that paid well. Like even as a little kid, that's what I was looking for. And so I think I thought doctor, because I really liked my doctor, the pediatrician that I went to as a kid. And then I think watching those courtroom dramas, I got drawn into law. Yeah.

Well, as a kid, I actually myself had thought about being a patent attorney, which I guess is similar to what you were doing as an intellectual property lawyer. Yeah. Same theme. And how did you then go from being an IP attorney to starting a coaching business focused on wealth building? Well, I ran my law practice for seven years and I had a team. I had a team of attorneys and admins.

And we served mostly entrepreneurial clients. So I would say majority of our clients were women entrepreneurs, but other entrepreneurs as well, who were building all kinds of businesses, software companies, product-based businesses. We were negotiating licensing agreements with HBO for one of our clients. I mean, all kinds of cool stuff that people were doing. We had an inn, a very popular in the Hamptons. That was one of our clients at one point. So they all did different kinds of things.

And I really enjoyed the variety, right? Learning about their businesses. I loved running my business. I loved having a team. I loved marketing and selling and figuring out how to keep growing the company. I did not love practicing law, I discovered. So it just got, I think what happened is I got good at it and then I got bored because it almost was like too easy, too repetitive at a certain point. But a lot of my clients were coming to me saying,

Hey, can you teach us how to grow our businesses the way that you've grown yours? Because my company was growing. My team was growing. We were consistently getting new clients. We were always in the press. Like, there was just lots of opportunity for my business.

And I think a lot of people wanted to know how was I doing that exactly? How was I managing my team? So many different parts of running a business. And so I just would give them advice for free. And at one point I had a mentor who told me, you should start charging for that. So I did. So I tested out charging for it and I took on one client and I was like, let me just try it and see what happens if I try to help this person scale their business. And

She, I worked with her for six months. She grew her business exponentially revenue wise and operations, systematizing it, like just all simplifying everything.

and growing the business significantly. And that really worked. And she told all her friends, so the more people came to me. And so I just started to do that. It was like a side hustle, coaching people. And then eventually I decided to focus on that 100% and closed my law practice and went all the way into business coaching, which the goal of it was to teach people how to build real wealth from entrepreneurship.

Well, everyone looks at these things and they think of you now is probably an instant success story. But you started this coaching business, I understand, in around 2007, 2010. And in 2017, it started to generate seven figures a year. Is that by the timeline? 2010 is when I started my law practice.

And then I ran that until about 2015 or 2016 is when I think 2015 is when I first tested out coaching with a client. And then I was doing it as a side hustle while still running my practice and eventually started to go full force on coaching. And the first year that I did it, it made seven figures. That's incredible. And I know some people...

have this primary career that they've started in, I did the same type of thing. And oftentimes you see that chasm that you have to cross to do the new thing and you don't see a defined path oftentimes and how to do it. How did you go about crossing that chasm and what do you suggest for others?

Yes. So it was, this is a great question. I think transitioning to something new is something that so many people want and are so afraid of because we just imagine ourselves becoming destitute in the process. And I think once you've had success, taking risks becomes a lot scarier. When you haven't had success yet, you don't have as much to lose. So it doesn't feel as scary. But once you have a successful career,

business, career, life, right? You're afraid to take that risk. But the way that I did it was I dabbled, right? So as I said, I was running my law practice. That still was my full-time undertaking. That's where the majority of my income came from. That's where I was focused on. And then slowly but surely, I was taking on clients on the side for business coaching.

And as I got more and more coaching clients, I would take a little bit less legal clients, right? So if there was a case that looked like it was going to take a long time, it was super complicated, I might say no to that and instead take on a couple more coaching clients. And so slowly but surely, I was winding down the law practice while winding up the business coaching. And it was probably like a two-year period where I was doing both and was very busy, right?

But also very fulfilled and excited about what I was doing. So I think it's okay to transition. If you have a full-time job or if you're a full-time entrepreneur and you want to do something new, just try it, right? What does it look like to, what's the sort of minimum viable version of that? What is the simplest way to go about doing that? And just

test it out, see what happens, see if you're really drawn to it and you still really like it. And then slowly but surely you can wind that up and start to slowly but surely replace your income. I'm not, I had kids and a family and I was the breadwinner for my family. So I did not have the option to just be like, I don't want to do this anymore. Close the doors, lose all of the money and momentum from that and then start something new. I didn't have that option. So I think if you're willing to be patient,

And tiptoe your way in, you'll be surprised how quickly it can go. Thank you for sharing that. And you ended up writing a bestselling book. In fact, it was an instant bestseller in 2021 called We Should All Be Millionaires. And what we're going to talk about today is the workbook that you're coming out with that serves as a companion guide to it. What inspired you to create this companion guide?

Well, I was actually surprised by how well the book did. I mean, I wanted it to do well, but I think you just don't know what to expect, right? When you're coming out with a book, it's such a different thing than entrepreneurship in general. And so hundreds of thousands of people read the book. They were super passionate about it. They were doing book clubs and sharing it and doing a lot of the exercises that I talk about in the book or doing their best to take action on it. And one of the big actions in the book is the 10K in 10 days challenge that a lot of people were doing.

And then people would send me in questions about other things, like about how do I do pricing or how do I create my offers or how do I shift this mindset or how do I talk to my partner about boundaries or whatever those things are. And so I just thought what makes a lot of sense is to create a workbook so that people can take action, million dollar action on this new mindset that they've gotten from We Should All Be Millionaires. So that was the inspiration behind it.

I just wanted people to continue that momentum and keep taking action the same way that I do with my coaching clients, but be able to have access to it in workbook form. And I know you work with Jessica Reda and it's interesting how well she understands what is going to work out of a book because

She read mine and she said this whole thing that you have on the mosquito, I call it doing a mosquito audit. She goes, that is going to be the most popular thing that comes out of your book. And it has become, as she thought it would, the most highly thing I get asked about. So when I wrote it, I never thought that chapter was going to be all that. In fact, I was struggling with how do I best talk about toxicity and

And I guess reframing it instead of energy vampires as a pesky invisible mosquito is a good metaphor that people are resonating with. So going back to your book and the discussion, I think to level set, you have a different description of what you describe as a millionaire. Can you define in your terms what it means to be a millionaire? Yeah.

Yeah. I mean, I think there's a lot of different ways to look at it. It's basically like someone who has at least a million dollars in assets, in net worth. And so that could be maybe you own a business that's worth seven figures or more. And so that is the asset that you own. Maybe you own stocks and or real estate or other assets.

that are worth a million dollars or more, or it could be that you generate a million dollars in annual revenue. That is my actual goal for my clients and for my readers is that they are able to generate a million dollars in annual revenue in their business and from there take a very healthy salary and then also be able to reinvest and continue to grow it and invest in other asset classes as well.

Thank you for sharing that. And as I was reading your book, it just so happens that a story that you talk about in the book is something that I myself faced almost the exact situation. I was overseas. My daughter was...

18 months or two years old. And my ex-wife calls me up overseas and says, Olivia had a seizure. She stopped breathing for 35, 40 seconds. Ambulance had to come, et cetera. And so when I read the story that you talk about, it was eerily similar to what Olivia, my daughter, faced. Can you share your story and what it taught you about

the need to be financially secure? Yeah. Well, I was, this was still in the early days of my coaching business and I was hosting a retreat with clients in California and outside of Los Angeles. And there's a part of the story where I got totally sick as well on this retreat that I'm supposed to be hosting.

And I had to get, it's Southern California. So luckily they have those IV nurses that will come to your house and give you an IV to give you the electrolytes or whatever else you need to feel better faster. And so I had just done that. It was feeling better. And then my husband called me panicked and he never calls panicked. He never sounds panicked.

nervous, emotional, like he's a pretty stoic guy. And so getting his call and he's telling me like he's in a panic and telling me that my son had a seizure. And I think my son at the time was five years old. And yeah, so it was just so scary. So he was literally waiting for an ambulance while he's calling me. And so then I can hear the sirens in the background. I hear my daughter crying and he had a seizure and then was just like,

appeared unconscious for some time. And then the ambulance arrived and luckily everything turned out okay. But in that moment, I'm like listening to him trying to calm him down on the phone. And I'm also running around the hotel room like throwing my crap in the bag. Because as I'm talking to him, I'm like heading straight to the airport, right?

So luckily, once the ambulance was there, they checked him out. He was okay. He needed to go to the hospital to get like more of a scan and all the things. And I was like, I'm getting on the first thing smoking, right? Like the first flight I can find. And the first flight I found, I think it was like $2,500 or $3,000, like far more than I would normally pay. And of course, it was no problem for me to pay it because I had the money to be able to get home as quickly as humanly possible, which was like multiple flights.

I mean, all the things to be able to get home to my son and my family after going through this experience, which was so scary for everybody involved. And I think what it taught me is that having access to funds is incredibly important. There are so few Americans, unfortunately, that have savings and that have emergency funds should an emergency show up one day. And.

And that moment, it just made me think about like how important it is that we have financial security, financial freedom, that we have resources to spend in an emergency, to use for our families, for our loved ones. Making money is not about the money. It's about all the things that really matter to you that you're going to spend your money on, right? Right.

That's really what it's about at the end of the day. And so that's what that story taught me. And yeah, just got me even more focused on the work that I was doing.

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Yeah. My father had always taught me to have three to six months of salary always in the bank in case an emergency erupted and you lost your job all of a sudden or you have some health crisis. So the money is always there. However, the vast majority of Americans, which are where you and I live, paycheck to paycheck. And I thought as I was going through your workbook,

You put out a number of startling statistics. The vast majority of them focused on females. And I was hoping you could share just maybe a few of the most meaningful ones to you.

Yes. Well, the one specifically about women that I think got me started as an entrepreneur and focused on this and drew me to it, this was before I even became a business coach and was still practicing law. I saw a stat that said that over 80% of women entrepreneurs never make more than $50,000 in annual revenue. That's revenue, not what they're taking home, right? They still got to pay taxes and expenses. And so I,

I also happen to know that women of color are the fastest growing segment of entrepreneurs in the U.S. Women especially are starting businesses in droves, right? However, even though women own approximately 50% of all businesses in the U.S., they make a very small portion of the actual revenue. Only 2% of women entrepreneurs ever make more than a million dollars. Wow.

And learning those stats when I was practicing law and I was an entrepreneur, right, running my law practice, it just became so clear to me that this is a problem that I need to solve, that I was going to figure out how to

I had already exceeded those numbers, $100,000 or $50,000 when I read the stat, but I wanted to do more and then also show other women how to do the same. And there are other stats that show that when women have additional cash, when women have extra funds, they reinvest in community, they invest in philanthropy at higher rates than men.

and women also have get greater returns in investing, but don't think that they are good investors. Right. So I really just wanted to empower women as entrepreneurs and as money managers, right. To believe in themselves as entrepreneurs, to believe in themselves as investors and to believe in their ability to manage money well. Right. And to understand that when women make more money, all of society improves. And so that's what I wanted to do. There is another stat too, that,

70% of women in retirement will be impoverished, right? So it's like women are not making as much money as men. There is a wealth gap between women and men. And then because there's a wealth gap, their whole careers for decades, by the time women retire, they tend to not have enough to get through their retirement for the end of life. And so I just thought, yeah, no, this is unacceptable. We have to fix this problem.

And so that's, that was a big motivation for myself, for my own personal journey, but also for my work, because I think women have so much more skills and talents than they realize, and they are not capitalizing on it to the full extent that they could be. And so I really wanted to show women and honestly, a lot of men buy my book, a lot of just everybody buys my book.

And tells me that they appreciate it, even though it was written for women. But I think people don't realize that they can use their talents and the natural skills that they have to earn more money. And so that's what I wanted to teach people how to do. And in my book, I highlight Jim McKelvey, who founded Square, basically told me something similar that...

One of the key things that he has found in life and encourages others is that we all have this unique set of skill sets. And oftentimes we don't do that introspection to understand what those strengths are and then aligning it to a problem that we see that those unique skill sets can help solve for others. And he said, that's the key to finding that entrepreneurial pursuit is finding a problem that you're uniquely interested

Position to solve and then doubling down upon it, no matter how slow you might start out because, because oftentimes people aren't initially making money or they have other things like raising money and it distracts them. And when they get too far away from that initial mission is when he sees a lot of these ideas fall out of their formative states and they end up

dissolving the companies or something else. Do you find that to be a similar thing with people that you see? That they lose that passion? Yeah. That passion or just lack of focus? Yeah. Yeah. That passion and lack of, well, it's the passion itself. And then because they start focusing on so many other things, they lose the focus

and doubling down on the thing that they were trying to fix to begin with. And they get so distracted from it that the business ends up never doing what they intended to do.

Exactly. I mean, that is part of the reason why I wrote this workbook as well, to help people. It's reminding you what's important, taking you through the exercises that are going to refocus your brain and recognize you have complete control over some of the problems that you're seeing, but we're just so muddled and so pulled in so many different directions, especially on social media, that we can't even see the problem clearly or focus enough on the problem to solve it, right? To stay focused and solve it.

So just really showing people their innate abilities that they possess to be able to solve the problems that they're trying to solve, to be able to generate the capital that they want to generate. And I especially have found that for women-owned businesses, for businesses run by people of color and other historically excluded people, access to capital is a big problem, right? Some people are just not able to get loans or not able to access credit.

Right at the beginning. And so one of the things that I teach in this workbook as well is how to create an offer that can fund your business immediately going forward, right? What is the formula for making money as soon as possible? So that way you have cash coming in the door while you might be working on a longer play, right? That takes longer. So an example would be like FranklinCovey. That is a company that, you know, we all know them for the planners that they have come out with. But before that, they were a consulting company.

And so they consulted directly. They were selling a service. They were able to make immediate money from the service, right, from selling productivity services, right, to companies and individuals.

And while they were doing that, they were also developing this planner, using parts of it with their clients, and then eventually became a company that sold this product, which was the planner, right? And that was the sole focus. But they didn't do that right out the gate because if they would have needed to raise capital.

And so this was another way to do it where you're a consultant first. Then I have another entrepreneur that I know that ran a coaching business for quite some time. And then she used the proceeds from the coaching business to create a software that, you know, she later built and then sold for many multiples. Right. But it takes time to do that longer play. And so what is the way that we can self-

fund, right? And be able to take care of ourselves and also run the business and make enough that we can reinvest in those longer plays that we want to make. Yeah. I think a really good example of this is Gretchen Rubin, who many of the listeners probably know who she is, but she's a bestselling author, but she's then started to do the podcast. And now the initiative that I think is making her the most money is she created the happiness app, but it kind of her

doing initially the books, then the podcast revenue, then she built it up into what she's doing now, and then the public speaking and everything else she does. So I think a mistake people make going back to what we were talking about before is you start out with this one thing you want to do, and then instead of doubling down upon that one thing to make it profitable, you start trying to do too many other ancillary things

business models and you end up diffusing yourself so much that you can't do any of them.

Exactly. And none of them generate enough capital. I mean, probably the number one thing that I coach my clients about is staying focused, right? Not selling a thousand different things, having so many different offers. Oh, my friend over here is doing this. Maybe I should try that. Oh, I saw someone doing this. Maybe I should try that, right? Instead of just staying focused on the thing. You talked about it a little bit, like even with this podcast, right? Being consistent, showing up consistently leads to exponential growth.

And, but it does take time and you got to add patience. And I think that's what causes people to lose focus is they lack the patience and they want the win now. And so they stop focusing on the thing that can work if you just show up consistently for some time and start distracting themselves with too many things. And then all of them, like you say, so diluted that none of them wind up being effective enough. Yeah.

Where I see this happening with small businesses is you have all these different offers and all of them just make a little bit of money, right? But you want to make a lot of money, but you're so pulled in so many different directions because one offer requires delivering that offer, marketing that offer, selling that offer.

Right. So you have it's a lot of time to market, sell and deliver an offer. And then if you do that times 12, you're running around like a chicken with your head cut off and you're still not generating the revenue that you want to be making. So focusing in, really honing in on the problem you want to solve and staying the course and slow and steady wins the race.

I have podcasters come to me all the time trying to say, how do we create a podcast as large as yours? And I always tell them that I think you've got the whole equation wrong. I never started this thinking I was going to create a podcast this large. I think what you've got to figure out is what are you using the podcast to do? I have these friends over in Tampa who have said, we want millions of downloads per month. And I said, well, is the

podcast creating a revenue source for you in your main business, which is executive search? And they said, yes. And I go, well, you've got to think about what you're doing here. Your podcast is really in the vertical of executive search. It's really around a Florida-based market. And what you're trying to do is use it as a tool to either keep existing clients warm or to entice other clients to have a platform that can...

Do you see it having a direct impact on the business? Yes. Well, then do the downloads really matter? Not so much. So to me, you've got to really think about what the purpose is for doing it to begin with, or even for writing a book or anything else that you're trying to do.

Exactly. What is the goal? And marching towards that goal and staying focused on that goal, even when it's hard. This is why I think community is so crucial. And I always, I have a chapter in my book called Million Dollar Squad, and it's all about who is the community that you're surrounding yourself with?

Right. How are you connecting with fellow entrepreneurs or friends who are ambitious, who are working towards similar goals? Because that's how you can stay focused and be held accountable and or hiring a coach. Right. Those are all things that you can do. But having a community of people to cheer you on and to help you stay focused when you get distracted is so important. Right.

I have a group chat with my closest friends who are also entrepreneurs. And every day we're talking about what's going on. And sometimes somebody has a new idea and the other person will say, what you said you wanted to do was X, Y, and Z. Stay focused on that. This is a distraction, right? So sometimes you need those people that see what you can't see yourself.

No, that's absolutely true. Rachel, one of the things that I start my book out talking about is the importance of doing mindset shifts. And this is something I wanted to ask you about because in your work, you emphasize the importance of a rich mindset over a poor one. Can you elaborate for the audience on what differentiates these two mindsets and how do they overall impact one's ability to see opportunities as well as abundance?

Yes. Well, I think that it's telling yourself a million dollar story instead of a story that makes you feel broke. Right. So the story might be like just something like we were just talking about. As an entrepreneur, you may be working on your business.

and it's taking some time and it's not going to happen overnight, slowly but surely, you're going to grow this business to where you want it to be, but it's not there today, right? And so how do you stay focused and see the opportunities, the abundance, right? Recognize what's happening here instead of saying, well, I don't have it right now, right? So I think some of us can say,

Oh, I'm stuck. I'm broke. I don't have a lot. I have to be cheap. I can't invest in myself. I need to make the decision that saves me the most money always, right? That saves me the most time that it just, it takes away your options thinking that way.

Or you can decide that you're going to think abundantly and recognize the opportunity in front of you and recognize, you know, if there's an opportunity that presents itself, you can say, oh, that's too hard or I don't have the money or I don't have the time. So it's a no. Or you can say, I want to take advantage of this opportunity and I'm going to find a way. Let me figure out, let me brainstorm how I can make this happen. Let me talk to some friends and see if they have any ideas or know anyone who can help me. Right? So it's about seeing

options and choices and abundance everywhere you look, or we all know those people who complain nonstop and see no options and no choices and no opportunities and only see limitations. So it's really training your brain to see those opportunities and think abundantly instead of always seeing limitations. So in the workbook, you have a number of different chapters. One of them is Million Dollar Lies.

And you write in this chapter, when it comes to your financial situation, it's important to take responsibility for the parts you can control and improve. Because when you take responsibility, you also take power. And then in this part of the workbook, you go into a financial forgiveness ritual. Can you describe what that is and how a listener could potentially do this?

Yeah, it's really evaluating the stories that you are holding around debt that you may have taken on, financial choices you've made in the past that maybe didn't turn out the way that you wanted. You have to forgive yourself.

I think sometimes we make one bad financial decision and we decide we're bad with money. We label ourselves as not good with money. We stop trusting ourselves with money. We're afraid to make any decisions around money. We rely on other people to tell us what to do. And it really takes away our power. And so instead, what I encourage people to do is recognize, okay, if you went into debt, why did you go into debt?

well, I have $100,000 in student loan debt and I'm depressed about that. Okay, well, why did you get into that debt? Because you wanted to educate yourself, because you wanted to learn, because you wanted to grow as a person. That's not a bad thing. That's something to be celebrated, that you were willing to take a risk and invest in yourself in this way. And when you come at it from this more empowering place,

and recognize why you made the decision that you made originally, right? How did you get here? How did you get to this place where you made this decision? Maybe you spent a lot of money going on an exciting trip with some friends and made incredible memories. And now you've got debt, right? Related to it and you got to pay for it. Okay, great. But you were willing to invest in those relationships. So I think if we take the time to really see how did we get here

What are the choices that we made, right? It's usually because we are someone who loves our people. We have loved ones that we are willing to spend money on, right? We want to grow as humans. And so we've invested in learning or other things that help us to grow, right? Or we were trying something. We were willing to take a risk. I'd rather be someone who's taking a risk than someone who would never take a risk, right? Someone who's always afraid. So I think there's a way to evaluate some of your financial decisions and forgive yourself

for some of the choices that you made. And I think the ritual of it helps us to take back our power, recognize that we're not bad with money. We just made certain choices and we learned from them and we might make different ones in the future, right? But it doesn't make us bad or not good with money. I think when we label ourselves that way, we really take away all of our power related to money. It's hard to get good at money if you constantly label yourself as bad with money.

No, I couldn't agree more. And one of the things that I loved you were talking about is the tiny choices that we make. Because one of the core themes I talk about on the podcast is the power of choice and how those micro choices add up over time, either to abundance or to regrets. And one of the things you talk about are small daily actions like buying a latte or enjoying a scenic view as ways to feel abundance.

How do you find seemingly simple acts like this contribute to a larger, wealthier mindset? Yeah, because you're being present to all of the magic that is around you. I have a friend who told me a story about how she decided to, after many years, to quit a job that she really didn't want to work in anymore. And she didn't want to work there for a long time, but she finally gave herself permission to quit.

and to do something else and pursue a new, different type of career. And she sat down to have lunch that day, and she had a salad. And this is a salad that she's had multiple times, right? Like this is her neighborhood place that's close to her work that she's been having this salad for years. Maybe not every day, but probably once a week.

And so she sat down to eat this salad and she said it was like she ate salad for the first time ever in her life. Like it was the most delicious salad she ever ate because she just was aware of it. She was present. She wasn't eating while focused on something else, thinking about her problems, trying to solve problems or critically thinking about everything or overthinking everything as we often do. Instead, she just sat and ate.

every moment, right? And savored the space she was in, the view that she had. And I think so much, so many of us are like walking through life asleep. Like we just aren't present to what's going on. Like this morning I was on the couch snuggling with my kids in the morning while my husband was making me coffee. That's a magical moment. Like the smell of the coffee and the warmness of my two boys snuggled up against me. Right?

Right. That's a magical moment if you recognize it. But if you're playing through your to do list for the day or the bills you have to pay or all of the things that are stressing you out and you miss the moment. Right. You miss the magic of it. And I think when you tune in and really.

notice the smells and what things feel like, what things look like, really use all of your senses and get out of your head. Like what an abundant world we are in and how there is so much opportunity and so much magic all around you. And when you tap into that, then you start to see the opportunity in your business as well. The opportunities for your wealth building financially, the opportunities that you can pursue with your talent.

So I think some of us are just asleep to what's possible because we're just so busy thinking about all the problems all the time and stressing.

And I think this leads to a whole nother area that I found actually, as I was looking through your book, which is forgiveness and you write in this chapter, our next move is forgiveness. And you say, I'm not talking about forgiving the media or the government. I'm talking about ourselves. It's time to forgive ourselves for thinking we're not good with money. Why is this forgiveness so important?

Because otherwise you're punishing yourself, right? Like you think you deserve less than. I literally had a coaching call with a client today who I asked her, how much money do you want to make this year in your business?

And you could tell she had a number in her head, but she was afraid to say it out loud. And I said, just say it, get it out. You got to say it out loud if you want it. And so she said it and it was 500,000, right? Which for a business owner, 500,000, I don't think that's an, that's not a huge amount of money. And so I said, okay, great. And I said, how do you feel about earning 500,000? And she was like, well, I struggled to like wonder if I deserve it.

Like, why do you think you don't deserve it? If you're providing $500,000 worth of value, right, to customers and clients, why don't you deserve to be paid for your work, for the value that you're creating? And it's such a struggle for people. I think we can want so much for other people. We can want so much for our love. We want them to be successful. We want them to have wealth. We want them to pursue their dreams and to see it all come to fruition. But for ourselves, a lot of us

judge ourselves very harshly. Well, I'm not good enough or I wasn't a good son, I wasn't a good daughter, or I did this one thing that one time, right? Or I made these mistakes. And so we're so harshly judging ourselves, we think we're not deserving of a good life, right? We're not deserving of

of wealth or abundance or financial freedom. And so I think forgiveness is an important ritual so that we can move past that and really start to recognize that we are worthy and to recognize that the same people we want to help, we also are deserving of help.

Rachel, another area of the workbook that I really liked was your section on million dollar decisions. And you talk in here about the difference between a million dollar decision and a bad decision. And I was hoping you could expand upon this and give examples of both.

Yes. So a million dollar decision, right, is one where we are, again, making decisions towards abundance. So you might say, okay, I have this opportunity. This actually happened to me a couple of weeks ago. I had an opportunity to go to a mastermind at this amazing entrepreneur's home. It's a guy who has built a very successful multi-billion dollar company and

And there was a group of entrepreneurs that were getting together and he would be mentoring them as well as some of his staff, etc.,

And it was, somebody had dropped out of this opportunity and I had to make a decision in 24 hours whether I was going to do this thing. And it costs money, you know, as well. And so I could say, well, I didn't plan on spending this money. I don't really want to spend extra money right now. I could make that decision from a place of, I have plans this weekend. I would have to cancel some things. I've got to get a babysitter, whatever else. And

And I could say no to myself, or I could say, well, I'm sure I'm going to learn something exceptional that I could apply to my business that I could use to help others.

And so I'm going to take advantage of this opportunity. So it's really looking at not what it's going to cost you, but what do you have to gain from the various decisions that you're making in your life so that you start to make decisions more abundantly? Because, right, becoming a millionaire or becoming somebody who's very successful financially comes from making million dollar decisions along the way, right? Taking risks.

being willing to, and of course, calculated and strategic risks. I'm not saying buy every BMW and every fancy car and take it, buy all the fancy things in the world. That's not what it's about. But when you're presented with those opportunities that could take you to the next level, but it's going to cost you something, either time, money, convenience. Are you willing to take that risk? Even though you don't, you're not guaranteed any results.

It's just a possibility. Are you saying yes to those possibilities or are you the type of person who's always staying closed in, right? Staying in your box, not expanding, not being around strangers, not meeting new people, not ever taking any kinds of risks, right? So million dollar decisions help us to feel more abundant. They give us more opportunities.

opportunities, and they create the conditions for us to become millionaires versus broke decisions don't do that, right? They keep us closed. They take away options. They make us feel small. They cut off opportunities and they keep us in the same place that we're at. And if we're going to make decisions where we're always in this space of comfort and always in this safety zone, in this safe box, we're not going to become millionaires from that kind of behavior over a long period of time.

No, it's all about starting to project and manifesting who you want to become. And the more you make decisions that do that, the more you are going to become what you aspire to be in your dreams. Yes, exactly. It's like you're practicing being the thing that you want to become. And so you have to practice today, not a year from now or five years from now. You don't practice after you become a millionaire. This is how you become a millionaire. Yeah.

I loved how earlier in the discussion you were bringing up the community that we surround ourselves with so important for our success. And I had started off by talking about the mosquito principle or the mosquito audit, which is when we have people who are toxic that invade

the closest aspects of our friend group, our family groups, whatever they may be. And oftentimes their toxic behaviors end up holding us back because they permeate thoughts and our minds that we're not good enough or we're trying to be too ambitious or we don't deserve to have the millionaire mindset or the millionaire life. And when I talk about this,

I also talk about another concept, which is the boundary magnifier, which is what you need to become to protect yourself from these people. And you also touch on this in your section called the million dollar boundaries. And something you write about here that I really loved was that we don't think about these boundaries as,

As being something that is actually self-care, which is what boundaries need to be because the boundary is really about you and protecting yourself. And I think this is something you absolutely agree with.

Yes, for sure. Boundaries, I think sometimes we're like, I'm putting a boundary in place. And if I'm going to give them an ultimatum and say, if you don't do it this way, then I'm going to cut you off or I'm not going to be your friend anymore or whatever it is. And the boundary is really not about that. It's not about punishing other people to get them to do what you want them to do. It's really about protecting yourself. And it's about your own self-care, right? So

creating a boundary. If, for example, I had a friend group at one time in my life where they spent a lot of time gossiping about other people, complaining about work. And it just, I would just feel heavy every time I spent time with them because there was so much negativity.

And so the boundary that I put in place for myself is I want to be around positive people. So if I know when I spend time with them that it's going to be negative, I need to just say no for my own self-care, right? For my own protection. And I might try something else first and say, hey,

guys, let's talk about something positive. Let's focus on, I'd love to hear more about your dreams, your vision. What do you want for your career? How are you going about pursuing it? And attempt to elevate the conversation. And if we can't, then my boundary is going to be, I'm no longer spending time with this person. And it's not about punishing them. I'm not doing it to make them suffer because they won't talk about what I want to talk about. I'm doing it to protect myself and to recognize like what I need

right now in this season of my life and what I cannot allow myself to be exposed to, right? Which is negativity that I'm telling you, keeping control of your mindset and keeping your mindset positive is the most important thing. And so if you are surrounding yourself with people who are negative or just bringing you down, that is a problem. You can't do that all the time. So boundaries are incredibly important. And in the context of money too, I think it's so...

that especially for women, that we wind up with so many jobs that we didn't necessarily ask for, right? Like the job of doing the dishes and the job of doing the laundry and the job of doing the majority of the child rearing, the job of reading every email from the school, which there's like 1,200 emails per child that

you get per week right and so or the job of like doing your mother's taxes or helping your aunt out with her painting her house or whatever it is right it's like whatever you get caught up in that is taking time away from you pursuing your own dreams and your own vision and your own priorities right there's a lot of people pleasing i think that can go on especially for women

And that steals your opportunities to make money. And so it's very important that we see like, where is my time going? And what boundaries do I need to put in place? And where do I need to say no, and protect my time, protect my energy, protect my mindset, so that I can stay focused on pursuing these dreams that I have.

And I think one of the most important boundaries we need to concern ourselves with is our time. And you've mentioned on a number of other episodes that I've listened to preparing that you are exceptionally frugal with your time. How do you make the decisions between what commitments you accept and what to decline? Because I know so many people who say yes to virtually everything.

Yes. So I have a formula that I actually teach in this book and it's the, we should all be millionaires formula W S A B M. And the W stands for want, what do you really want to do? Cause I think we are so focused on the shoulds, right? What are we should do? What do people want from us? What do we want? So getting in touch with our desires, what do you actually want in this scenario? Um,

So that's the W. S is for should. So what do you feel like you should do? What shoulds are at play here, right? What are the like, well, I'm a mother, so I should take my child to the birthday party, right? Or I want to be a good daughter, so I should help my mother with her taxes or whatever it is. So what shoulds are operating here? So you recognize what's your voice. That is the things that you want. And what are other people's voices that are in your head trying to tell you what to do?

And then A is for action. What action will take you to, will take you to get what you want, right? What action is going to get you where you want to get to? So maybe the action is I need to say no to this thing, or maybe the action is I will do it, but only under these conditions, right? And so that I can say, hey, I'm, I can do it if, if we can do it in 30 minutes or something like that. I can give 30 minutes to this thing.

B is for body. So how does your body feel about taking the action? There's so much wisdom in our physical bodies. So we can pay attention to sometimes there's an opportunity that comes up and, or an obligation. It depends on what it is, but something can come up and you just instantly get a pit in your stomach. And you're just like, oh, it's like the whole idea of this just makes me feel ill. Right? Sometimes that's your body telling you, no, you don't want to do that. Or sometimes it's a pain in your chest.

One of my friends, her feet get sweaty when she gets excited about something, right? So sometimes you're presented with an opportunity and you're like, I don't know, maybe you're like her and you get sweaty feet because you're so excited about it. So noticing how is your body reacting to this potential action? And sometimes it's like visualizing yourself being there doing the thing. Does that feel exciting or does that feel like you want to run away screaming? Yeah.

So tapping into the wisdom of your body. And then M stands for more. So what will you have more of as you make this decision? Right? So if you say no, will you have more of your time back? Right? Will you have more peace?

Will you have more happiness? Maybe if you say yes, you'll have more of something, right? And so W-S-A-B-M, that's what it stands for. It's want, should, action, body, and more. And that's a practice that you can use to evaluate tough decisions or really any decision to see, is this something that I want to do?

Yeah. And Rachel, what advice would you give to someone who struggles with feeling abundant and often feels like they're limited by their financial circumstances to ever feel what we've been talking about could be possible in their life?

Yeah, I think that feeling limited by your financial circumstances is just, okay, well, you can make money anytime. There's actually a whole resource in this book teaching you how to tap into your money-making ability whenever you want, right? So if you're saying, okay, well, I want to take advantage of this opportunity and I need $500 to do it and I don't have an extra $500 right now. Okay, so what could you do to get an extra $500, right? What if you just brainstormed 25 ways

to make $500 right now. And maybe some of them would be like, ask a friend, borrow the money, take out a loan, put it on a credit card, right? Some of these might be terrible ideas, but then you might say, oh, someone asked me to help them with a project. Maybe I can say, I can help you if you pay me $500 for this project. And then boom, done, right? Or my neighbors asked me if I could tutor their kid. Maybe I can do a month's worth of tutoring for $500, right? Like I

We often say, I don't have the money and we cut off all of our options. Okay. There's no money, right? There's not enough money. So it's over discussion over brainstorm over right. Decision made, or you can say, okay, I don't have the money right now. And I'm

It is possible that I could get it. So let me think about what are those things that could I volunteer for an extra shift at work, right? Could I take on a side hustle? Could I partner with somebody on something, whatever it might be, right? So I always encourage, think more like what are my options to make that thing happen instead of saying, well, it's not available right now, so forget it.

it. Because when you train your brain this way, you train your brain to see opportunity everywhere. Right? I think my problem is now that I see too many opportunities to make money and I don't have time to pursue them all. And even then I have a friend who is a very successful entrepreneur. And she says, every time I have a new idea about something I want to pursue, she said, I write it up into a plan and then I hire someone to do that idea. So even though she's short on time, and by the way, she has a bunch of kids too. Right?

Even though she's short on time, she's still saying yes to herself and saying yes to her ideas. And she hires someone or partners with someone to continue to pursue that idea, even though she's limited on time. So when you realize that there's so much opportunity, you just have to train your brain to see it.

And stop training your brain to only see limitations. That's really what we're talking about here. So money is readily available. There is so much of it. And I think so many people think, oh, making money is so hard. Getting money is so hard. It's really not that hard. It's just about training your brain to see what are those opportunities and how can you match your talents with a need that someone might have that will pay you for those talents.

So the last question I had for you, Rachel, is looking ahead, what are your future goals with Hello7 and how do you want to continually support historically excluded groups?

So our goal is to continue to grow the club, which is our membership community for entrepreneurs that helps them to think more abundantly, have community, take action on creating their business and their offers, and create a business that is sustainable, that becomes an asset that can make them money for years to come. So that's what the club is, and that's what we're focused on. And so our goal is to grow that to 10,000 people.

And we just want to keep finding ways to use technology to help more and more people, right? That's what I think is key because I can coach so many people on my own, but there is a limit to how many people I can coach by myself effectively. And so how do I continuously expand and serve more and more people and help as many people as possible? We also have a nonprofit called the Hello7 Foundation, and we want to expand how many people we're ever able to serve and reach through technology.

that foundation as well. So those are the two things that we just continue to work on. And these are years long goals, right? It's not going to happen. Like we're not going to hit all of our goals in the next six months or even the next two years might take five years or 10 years, but I'm in it for the long haul. And if someone wants to learn more about you, where's the best place for them to learn all things, Rachel?

Yes. Well, you could go to hello7.co where you can learn more about my company, Hello7, or rachelrogers.com where you can check out my books and my identity as an investor, not just a CEO. And I'm always on the Hello7 podcast. So you can listen to our podcast there or check me out on Instagram at rachelrogersesq. Well, Rachel, thank you so much for joining us today. It was such a fun time to have you.

Yes. Thank you for having me.

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