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It’s not every day you come across someone who can guarantee seven figures in your bank account. Rachel Rodgers’ goal is simple – she wants everyone to be a millionaire. Girl, where do we sign up? As the founder and CEO of Hello Seven, Rachel helps historically marginalized groups build million dollar businesses and achieve financial freedom. So if you’re tired of overworking, under-earning, and hella stressing, you might want to consider joining Rachel’s millionaire squad (it’s basically a mindset). We get into her upcoming book Future Millionaire, the importance of dreaming big, and other tips on going from brokey to balling.  

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SPEAKERS

X Mayo, Rachel Rodgers

X Mayo  00:05

Welcome back to The Dough a show that wants you to be a millionaire. I’m your host, X Mayo. Does anyone remember watching Who Wants to Be a Millionaire, child that show had me sweating, but if you put me on that show today and ask me any question about tacos, I would be walking home with a million dollars. I promise. I wouldn’t even need to phone a friend. Thankfully, you and I don’t need to go on a game show to start building wealth. Our guest today is here to show us how Rachel Rogers is the founder and CEO of Hello Seven, a company that teaches people from marginalized communities how to build a seven figure business. Previously, Rachel was an intellectual property lawyer working with business owners and entrepreneurs. Today, she’s on a mission to help diversify the millionaire class. Rachel is the author of we should all be millionaires, a woman’s guide to earning more, building wealth and gaining economic power. Her upcoming book is future millionaire, a young person, step by step, guide to making wealth inevitable. Rachel, welcome to The Dough.

 

Rachel Rodgers  02:34

Thank you so much for having me. I’m delighted to be here.

 

X Mayo  02:37

Good, yes. Okay, so Rachel, I’d like to start with a little icebreaker. I get a little nosy and get in people’s business at the top of every show, I would love to know what is something you recently spent money on that brought you joy?

 

Rachel Rodgers  02:49

Ooh, something I spent money on that brought me joy? I just put booked a week long trip to Portugal with my husband, and I’m leaving my kids home, yes, and I am very excited about that.

 

X Mayo  03:02

Oh, my God, you said kids. So there’s more than one.

 

Rachel Rodgers  03:05

Multiples, yes.

 

X Mayo  03:06

So how many kids?

 

Rachel Rodgers  03:07

Four?

 

X Mayo  03:08

Oh, my God, none adapted. All came out well,

 

Rachel Rodgers  03:13

I birthed three, and one is my eldest bonus child my husband had before I married him, so I had four total.

 

X Mayo  03:23

okay, but three still was three still maneuver through your body.

 

Rachel Rodgers  03:27

Yes, they did.

 

X Mayo  03:28

I sure did. Wow, and I’m over here just trying to keep three fish alive, you know, like it’s just, you know, we’re on different levels. You know, you’re kind of up here, […] yeah, Rachel, wow. Okay, so you grew up in Flushing Queens. I don’t know if you know. I did my eight year bid in New York. I paid my debt to society. Give me my purple heart. And I lived all over. When I say I lived all over New York, people was like, I was like, no bitch. I was in like, Co Op, Long Island, like, and I was the only black person, and I had blonde braids at the time. So they were like, who let her pass the gate? Who’s not on their post? Who? How did she get in here? But I lived in East Elmhurst, 103rd Street in Corona off the seventh. Don’t fucking play with me, yes.

 

Rachel Rodgers  04:13

Literally, what? Okay, my family grew up 100 and fifth and northern Boulevard. That’s where I spent very summers on the suit, getting my hair braided.

 

X Mayo  04:20

Okay? Absolutely. So I love talking to real New Yorkers. I don’t believe that you are a New Yorker if you didn’t go to PS, something, something. And I don’t care how long I live, but see, I’m from LA. See, we don’t we don’t play regionalism is a real thing. Like people who aren’t from Memphis, they’re like, I’m from Memphis. I’m not getting a fucking la ID. I’m like, I feel you. I never got a New York ID. And I don’t expect anyone from New York to get a California ID. I just California ID. I just don’t like I just, that’s just what it is. So I love meeting native New Yorkers. It makes my heart go pitter patter. And so you’re from Flushing Queens, and I would love to talk about your company, Hello Seven. Now, seven is a very special number for me because. You know, seven is the number of completion. Amen, yes. And also, I was born on 727, 87 so when they were like, Oh, my God, we’re talking and Rachel, I was like, I gotta know why she made that the name. So before we get into like, you know, the ins and outs of the company, why did you name it, Hello Seven?

 

Rachel Rodgers  05:16

Because the goal is to get marginal people from marginalized communities, historically excluded entrepreneurs to seven figures in annual revenue. So that is the goal. So yes, seven is the number of completion. When you get to a million, you’ve completed this phase of entrepreneurship, and of course, can keep going, but that is my goal for us, is that we not just have little companies, yeah, I’m saying, but we have some real money to work with.

 

X Mayo  05:40

Yeah, and we don’t need to hoard our wealth. We’ll get into that 1% later, yeah, but, um.

 

Rachel Rodgers  05:47

Very far away.

 

X Mayo  05:48

Yeah, no, I just, I’m with you. I would, I would love to be a millionaire, be consistent, be able to keep my overhead low and travel when I want to. I just need to travel first class all the time. I like thick towels, amen. Okay, so I think a lot of financial coaches, they promise to help us make more money, but very few say they can help someone become a millionaire, right? Was that always the goal when you started your business?

 

Rachel Rodgers  06:10

No, I actually started as a lawyer. I was an IP lawyer. That’s what I used to do, and I discovered that I hated it.

 

X Mayo  06:17

Oh, my God. Lawyers, Jesus. Oh my god, the things that you guys do.

 

Rachel Rodgers  06:21

Listen, somebody’s got to read the rules.

 

X Mayo  06:23

But I feel like you guys are like, I always, I feel like lawyers and business managers are like John Goodman’s character in the movie flight. You know, when Denzel was so drunk and he needed to get up, he came in with, like, the Pedialyte, a little bump of coke and an apple, and he was like, let’s do this. Okay, get your ass up. Let’s go. I feel like that’s what you know, where the bodies are. You don’t need to tell us where the bodies are, Rachel, but I know you know. Like, I feel like lawyers and business managers, my God, closest thing to the mob. That’s legal.

 

Rachel Rodgers  06:53

That is funny. Listen, it what you’re saying is we have your map. Is what I hear you say, it’s true.

 

X Mayo  06:58

Oh my God, that’s why they’re paid. They’re on the roll. They’re on the pay roll.

 

Rachel Rodgers  07:03

But eventually moved what I was doing was I was giving all of this free business advice to my legal clients. My mentor advised me, now you need to get paid for that part. And I was like, you are correct. So I started getting paid for that part. Discovered I love that part a lot more, and that’s why I went into to business coaching, but the goal was actually, initially I was just coaching people and helping them win. Then I realized I was really good at it, and then I realized that that was my niche, like people would come to me at like six figures, and I would help them to get to seven figures. And so that became my focus. And mainly because I want to see us win, like I want to see us not just get by and have enough as a freelancer, but to have enough to hire a team, have enough to build a real, sustainable business that could run without you. Those were the things that I was after.

 

X Mayo  07:50

Now, because you work primarily with minorities, I would love to know was there any common thread of emotional attachment that you had to work through and break through in order to help people get from that six figure to seven figure even five to seven.

 

Rachel Rodgers  08:08

Yes, I mean, money mindset coaching is a huge part of what I do, what my team does with my clients, because a lot of us grew up with not a lot of money, and so we’re new to having money. So now we we’re new money. Yeah, we don’t know what to do with it, necessarily, and so we might make, you know, poor decisions, or we hoard our cash because we’re afraid of making a decision. So, like a lot of that stuff comes into play too. Or we’re afraid to make investments in the business, like you gotta spend money to get more money to come in. And that’s the scary part. Is making those investments knowing there’s no guarantee. I mean, wealth is built on risk. Wealth is not built on hard work. You know, that’s a lie. It’s not built on what we think it is. It’s built on what risks are you willing to take to see more come back to you, that’s really where, if you think about wealth, that’s really where it’s coming from.

 

X Mayo  08:57

And so you started your business with $300 crazy, right? Was that a fluke? Did my producers forget a 03- 100?

 

Rachel Rodgers  09:05

Right? 100 200 300.

 

X Mayo  09:08

Okay, which is what you had in savings? Okay? So now I know black women can make $1.15 cent. I know that, but you need to tell us how, Rachel.

 

Rachel Rodgers  09:17

Let me tell you what I you know, what I spent that $300 on? I spent it on professional liability insurance so that I practice law and business cards. That’s the only thing I bought. I did not have a website an office. I used my busted laptop from law school, and I literally sat at the desk in my apartment that was in a basement, to be clear. Got the party started, and I started and I started calling people and emailing people I knew, and said, here’s what I offer. Would you like to hire me? And that’s how I got my first few clients. So there was no marketing budget. There was no people think we need all the you know what makes a business asking for the sale and the person says, yes, now you have a business. That’s all it takes, not websites and funnels and all this Instagram and all.

 

X Mayo  10:00

Gotta, need to wait. No, all those bells and bells and whistles and you don’t even know what the fuck you’re doing. Like, no, it’s like, it’s great to go to hell over that, all of that and those esthetics and stuff. But like, can you do the job? Like, can you does the service that you provide for me have any value, right?

 

Rachel Rodgers  10:13

Yeah.

 

X Mayo  10:14

And so then you wrote a book called we should all be millionaires, and agreed, right? But as black people, as minorities, and then you have all the other isms on it. You know, queerness, everything, it makes it difficult, right? And so let me ask you a basic but important question, why should we all be millionaires? And is that even possible for everyone under capitalism?

 

Rachel Rodgers  10:40

Yes, I believe we can, and I believe we should, because we can, right? Because for sure, there are going to be people who it’s not possible for, whether because of health issues or an environment they’re in or whatever like, not everyone in the world has even a Wi Fi connection or certain tools and capabilities, but a lot of us do have that, and if we have it, then I think it’s our duty to make it happen so that we can be well off, but also so that we can be in a position to have economic and political power. We need to be able to be writing checks to the candidates we want, writing checks to the causes that are important to us, right? Resources will help us make the world that we want to see created happen, and so I want us to have more resources. And honestly, all I did, and what I teach other people how to do, is take the skills you already have that you were born with, and monetize them and and learn how to make money with the skills you have. That’s really what I’m teaching people how to so you don’t need money. You got skills. Let’s take this talent, let’s make some money from it, and then let’s take that money, live your good life, but also be able to contribute to society. That’s that’s the ultimate goal.

 

X Mayo  12:50

So I would love to get into the mindset of being rich. Rachel, right, like, I want to get into that. Walk me through your millionaire action plan. Okay, do you think the path to being a millionaire is something that can be done at a corporate job, or do you think it’s more about building that side hustle.

 

Rachel Rodgers  13:22

You can absolutely do it at a corporate job, but on average, it takes 25 years to become a millionaire at a corporate job.

 

X Mayo  13:28

Okay, pause, wait, you can’t just say things like that on the show. You can’t really say things like that. Rachel, I want you to, I want you to take that back. I want you to lie. You’re a lawyer. That’s what you guys do. You I’m an improviser. You’re a lawyer. We do the same thing.

 

Rachel Rodgers  13:50

Um, what? Yes, 25 years, because that’s the path that’s sold to us, right? Like we’ll become millionaires when we put max out what we can put in our 401, K and just wait a very long time, right? Like so that’s what that looks like. I don’t know about you, but 25 years didn’t work for me. I was like that math. Don’t math for me. So on average, if you go the entrepreneurial route, even if it’s a side hustle, not your full time thing, if you’re an entrepreneur in any way, seven years on average, to get to a million, which, by the way, happens to be exactly how long it took. For me. It took me seven years from my start of entrepreneurship to become a millionaire. And for my clients, it’s even shorter now. Now a lot of my clients are doing it six months a year up to three years. Like somewhere between six months to three years is the time frame for for our clients that I’m working with now.

 

X Mayo  14:39

Now I’m curious, because I love data. I’m curious to know, what types of jobs are these people having that get it in six months. Because the one thing that frustrates me when certain people love to be like, Oh, my God, do like me get rich. And it’s like, yeah, you sell pasties. Okay, the girls. Are like in pasties, or you sell these fucking, you know, bando dresses, or whatever is trending. I think that is smart to follow a trend. That’s what you’re selling. But if I want to make coloring books, it’s not gonna happen like that, like that’s, it’s a different industry. You know, it’s harder. So the people that you know that are tend to make money the fastest or become a millionaire, the faster than others. What industries are these people in?

 

Rachel Rodgers  15:26

They’re all in different industries. It’s not an industry thing. It’s a it’s it’s more of a mindset thing, right? And a decision thing. So basically, a million dollar business, really, like any business, is a math equation. So it’s kind of like, how many of these widgets do I need to sell to get to a million dollars, right? Okay, cool, we have that first part. Then it’s, how many people do I have to talk to about my widgets to get X amount of people to buy the widgets, and then I make X amount of money, right? And so it’s like, okay, if I have to talk to that many people, how many places do I have to show up? What is my marketing actions need to look like in order to get this many people to know about my widgets, and then this many people to buy my widgets. Make sense? Okay, so it’s just a math equation. So it’s like, you sitting down and saying, I want to sell a million dollars of what I do cool. How many like shows do I need to do? How many coloring books do I need to sell? Um, you know, and then it’s like backing your way into it. Do I need to run ads? Who’s in my network that I could get to help me promote these coloring books? Right? Could I host events, coloring events, and at the coloring events, we sell coloring books in bulk, right? Can I sell them to retail shops, right? So that I can sell 1000s of coloring books? So there’s a way to do it. And what a lot of us do is say, well, it’s not possible, and then we never try.

 

X Mayo  16:40

So okay, so you help the girl with the coloring book figure all that out. Correct? Yes, okay, because if I come to you and I’m like, I’m really, really good at coloring books and I want to be a millionaire, and you’re like, Okay, girl, cool. First of all, collect your invoice, because I know Rachel’s gonna collect her invoice first, and then she’s gonna say, Okay, now here’s the Zoom link, and then we get into a plan. Is that how it works?

 

Rachel Rodgers  17:00

Yes, correct.

 

X Mayo  17:01

Okay, amen, no, because did you guys forget she has three children, four. Excuse me, she’s four children. Okay, so you are a huge advocate for charging what you’re worth. Hello, you said, take what you’re charging and double it. And I would say, double it and add tax. Okay, how can people figure out how to increase their prices without losing clients? And I kind of think I know your answer, but go ahead.

 

Rachel Rodgers  17:24

So here’s the thing again, right? We always start with, well, it’s all going to go wrong, and I’m going to ask better questions. Let’s ask empowering questions like, What am I going to spend this money on when it all goes right? Because we bring the energy of it’s not going to work to the things we’re doing, and that energy creates, it just attracts it’s not going to work type customers. You know what I’m saying. So, like, actually, part one is belief, right? First believe. So you gotta believe in your own pricing. How are you going to convince somebody else that you’re worth that if you don’t believe that? So your belief in your own self worth is very important, and the skill and the quality of the thing you sell. Can nobody tell me nothing about business coaching for marginalized people. Okay, I am the best the end of story. Okay, so like, when somebody’s asking about a price, I tell them what it is, and I’m like, and you’re lucky. Is that right? It could definitely be more, right? So that’s the energy I’m bringing, because I 100% believe in what I’m doing. And can’t nobody convince me otherwise, you know? And so same thing. We got to bring that energy, you know? We got to, like I always say to my best friend, you got to be on your own dick, okay?

 

X Mayo  18:30

I know that’s right, because baby, don’t nobody love me more than me. Why my mother and God, but I really love me. I really fuck with me, heavy. Okay, so I love how you pop your shit, and I just feel like, isn’t like losing clients, just just a byproduct of knowing your worth, because it’s just kind of like if you because I feel like this, if you gained a client and they were already paying you, and then you lose a client, that is not indicative of the value of service that you bring, or your worth as Rachel Rogers, it’s like, okay, maybe money changed for them, or, you know, inflation, or wherever they fucking live, you know, it happened or if they don’t want to continue to pay your rate, the rate doesn’t change. Sweetheart. There’s nothing wrong with the rate. The issue is that you can’t pay it. So I just feel like, if you’re gonna lose clients because you’re charging what you’re worth, why not have a consistent group of five people that are charging you with what you’re worth, rather than having 22 people paying you half that, and you’re spreading yourself so thin and you’re over exhausted. You know, it’s just it could be too much.

 

Rachel Rodgers  19:38

You’ve nailed it. And the other part of it is too we don’t do enough marketing. We’re not selling ourselves enough. And so what happens is we so we raise our prices, but we don’t keep working to get new leads, right? So we have to do the marketing. You don’t get to skip the marketing and selling part like that is a part of becoming wealthy, period. And if you think about even if you have. Job, you gotta go, go on interviews and sell yourself to all these people, to get one of them to hire you and pay that. Basically, if you have a job, you’re still an entrepreneur with one client, okay, yeah, which is riskier than having several, you know? But really it’s just, what I say is, when you increase your prices, I also want to see you increase the marketing activity, right? So that means talking to more leads so that you can find more of the people who are willing to pay what you want to be paid. What happens is we market ourselves very well at this lower price, and then we raise the price, and then we’re like, okay, some people dropped off. That’s normal, but you’re not actively marketing yourself now at this new level to the new level of client you want to speak to. You know? Okay, so that’s the other so we don’t just raise the price, raise the price, and then also raise the energy, and the level doesn’t even have to be more work. It’s just like, who are we talking to? Who is the ideal client we’re targeting when we’re doing our marketing and selling and making sure it’s the person that can easily pay our fees, right? So like, if your ideal client can’t afford your fee, it’s not your ideal client because they can’t pay. You see how that works?

 

X Mayo  20:59

Yeah, no, not got it, Rachel, I really feel like you were a former mob boss. So okay, the way that you talk, and you talk too quick, and it’d be too slick. I’m like, I can’t trust this. No, but you know, you know what the fuck you’re talking about. You sound like my business manager, Belva. She knows her shit, and she a black girl from Inglewood. Can’t nobody fuck with her. That’s just what it is. Okay? But Rachel, I do have to be honest, I’m thinking of the people, and when I say the people, I mean me, things are so expensive. You’re talking about becoming a millionaire in this economy, eggs are 9999 Okay? Rachel, so I just want to know, like, how, how how can we do that today?

 

Rachel Rodgers  21:42

Yes, you don’t need to spend a whole ton of money to start making more money. What you need to do is take stock of your own talent, package it together into an offer and then go sell it. It’s not that, you know what? I don’t think about the it’s always something. It was gas like, was it last summer? It was like a gas problem. Then it’s eggs. I it thisconversation never touches my household. I’m not. I’m never thinking about this, right? Like I’m not thinking about my personal purchase of eggs or my personal purchase of gas. I’m thinking about other people, but not for myself. And the reason why is because that is not enough to actually change anything for me. Because I’m always focused on I’m not waiting for a bad financial situation to happen. I’m preparing for it by working to max out what I can earn with my skill set. So I don’t want you to just think about like, Okay, I’ve got this skill set, and I could basically work at this company and make X amount of money doing this at this company, cool. I want you to change the thinking and say, I have this skill set. Who is the highest buyer? Like, who is the highest bidder for this skill set get the most value from this right? Like, you could be a computer engineer, and you could be like, Oh, okay, I could sell my services to this small company, or I could sell myself or services to this company that’s going to be able to make way more money off of my skill set, and therefore they’re willing to pay me more, right? So even if you’re working with clients, not just the client that you know is right there in front of you, but who’s the client that would pay the most for the skills that you have, that’s how you want to start shifting your thinking so that you’re selling your skill set and like or your product or service to who you can earn the most with, makes sense.

 

X Mayo  23:23

Hey, you know, this is a lot like stripping. You know, I follow a lot of strippers on Youtube, and follow them for eight, nine years, and they’ve taught me so much. And as you talk, as you speak, Rachel, it’s very parallel to the strippers, because these girls do not play about their money. They are like, no, the highest roller what motherfucker is walking up here? And most likely he don’t have on Versace sunglasses, most like he came in in Toyota Carola, and he has on kids because he owns Google, okay? And they’re looking at him, and they’re like, Oh yeah, these little other ones over here that’s like, playing and got all the gold and all that. No, I’m going to Kyle. I’m going to him, and I’m going to lap that dance. Okay, I’m gonna, I need on that. We’re gonna be over there, and I’m gonna get 10k period. So I feel like I need to adopt that more. I need to, because I, what you just said, really just transformed me to be like, Oh, X, we’re not looking at the highest bidder like I have so many amazing services that I provide, and I think that I’m really great. But it’s like, oh, okay, so are we’re just kind of like, Oh my God. They don’t want to pay. They don’t want to pay. But it’s like, okay, well, if I packaged what I can do, and I know there’s certain shit no one can fuck with me on. There’s a lot of shit I don’t know. There’s a lot of shit that I’m not great at, but when it comes to producing, when it comes to eyeing talent, when it comes to micromanaging adult children to get the best work out of them that I need them to do, to get their ass on set, to get. This fucking joke out that we need today. You can’t fuck with me. I know people, right, yes, but now you just transform me. Rachel the my boss to realize that I need to. No, I’m doing like I Scarface has nothing on Rachel, excuse me, a black woman with a headset. You What can she do? I’m now going to be like, Okay, let’s get to the drawing board, and let’s start looking at the highest bidder. So the goal of this episode is, think like a stripper. Act like a lady. Think like a stripper.

 

Rachel Rodgers  25:37

You know, what’s hilarious about that? One of my I love that so much. One of my very first coaching clients was a former stripper. She had just stopped and she was teaching pole dancing, and I helped her make a lot more money.

 

X Mayo  25:56

Okay, so I want to get into your new book, because it prepares people to start building generational wealth early. It’s called Future millionaire, a young person, step by step guide to making wealth inevitable. But I do believe, when you say a young person, I feel like anyone can buy the book, right? I don’t think that it’s limited. I think there’s stuff that’s applicable to everyone, like, you know, like, I read, I read Dr Seuss now, and I learn a new philosophy, you know, like, it doesn’t, because I just want to make sure, like, they’re like, oh, well, I’m not a young person. It’s like, mother, mother Dresden, I know you’re 80 years old. You can buy this book, okay? Um, but, uh, who is this book for? Though, you know? Yeah, I just want to know, you know, I’m out of age, out of your target demographic. You know, she’s not a young girl. I’m a woman. I know the skin is skinny, but she’s not young.

 

Rachel Rodgers  27:43

You know, Black don’t crack. Okay, period. So this book is called Future millionaire, and the problem that I’m solving with this book is that Gen Z is the first generation in history that is doing worse than their parents economically, okay, and that means they might be making more, but their buying power is way less, and so therefore they don’t have financial freedom. So that means for parents of teens and young adults, they are never getting these people off their couch and out of their house. Okay, so this generation needs a plan that will work today, in today’s economy, to help them get financially free. And so who is it for? It’s for Gen Z, it’s for their parents that want them to leave at some point.

 

X Mayo  28:25

No, my baby brother, he’s Gen Z. Now, mind you, I don’t want my brother to leave. He’s my baby, but I know he wants his own independence, and he loves money, yes, and he loves spending mine.

 

Rachel Rodgers  28:36

So we got I’m so glad you said that, because aunties, uncles, Y’all not safe.

 

X Mayo  28:41

Big Sisters, yeah, no.

 

Rachel Rodgers  28:44

They will wind up on your couch, okay. You need this book also.

 

X Mayo  28:50

Yes,  want to do I think him and I need to have a reading book club, and we need to come together, and we need to read future millionaire, because I feel like I’m a future millionaire as well, although, like, my business manager was like, Oh my God, you made a million dollars this year. And then I was like, yeah, okay, girl, and taxes. And she was like, no, let’s focus on a pot. She was like, you. She’s great. And I was just like, sweetheart. Taxes, okay, so I know on paper what it looks like, but we paid this person, that person, that person, that person. We did press. I had to get a wig. Girl, it’s like, Yeah, but I would love to be like, no, it is, it is like, I broke generation. I’m a change agent in my family, and it’s a blessing, but I know you, you’re putting a price on it, Rachel, but I think the work that you’re doing, like you’re changing lives, like, how do you put $1 amount on that? I know you do, but it’s just like the work that you do. I don’t even know if you’re actually feel the positive effects that you’re having on these people, because they’re going to be passing it down. It’s going to touch people that you’re never going to meet. You know. Like, honestly.

 

Rachel Rodgers  29:50

Thank you.

 

X Mayo  29:51

Like, you know, like, it’s in value. Like, I don’t know. Like I I don’t know. Like, Belva, I owe her my life. She can never. With like, I swear to God, I would tell her son, move over. Like we’re all living here, like I need like she is my world, and she’s so patient with me. And I do gotta say that black women being in charge of my money, I do feel safer, hello. And she’s also a mother as well. There is, like, a maternal instinct. I know I have that, and I’ve never birthed any children, but there’s just a level of, like, emotional intelligence, because women are the shit and so, yeah, I just think like that coupled with your knowledge, I just feel like you’re unstoppable, and I feel like everyone needs to go out and get this book. I have two more questions, and then I have to let you go, but then I will be coming to orientation to join your mob. Okay, so now tell me about, tell me about building our millionaire mob. Okay, I love that millionaire mob. Okay, is that your hive? Should that be your hive? Are we the millionaire mob?

 

Rachel Rodgers  30:58

It should be, I say, squad, but now I like mob better, see, and then I get to be the mob boss. So that’s better. You just rebranded me so you see what you did.

 

X Mayo  31:08

See that talent? No, I know. Girl, I know. I told you I don’t know much, but I do know what I know. Okay, so tell me about building our millionaire squad, aka Millionaire Mob, I’m interested. Is it do? Is it just me and the homies? Are we just popping champagne every day? Are we just No, make it okay, yeah, no, okay. But see.

 

Rachel Rodgers  31:28

Listen, we we do the work, then we can throw money on ya. You know what? I mean, we could get to that. But first your squad is people who are ambitious like you, people who are after big things, have big goals, just like you do, and people who are bringing something to the table, just like you are, right? So like, I have a network, I’m bringing to the table, I have certain skill sets I’m bringing to the table. And then the other people in my squad, they have certain skill sets that they’re bringing to the table, and networks as well. And so that we help each other. Here’s the struggle I’m having. Oh, bet I got a solution for you. Here’s what you need to do, right? And so on group chat all day long. We don’t really have problems, because we solve each other’s problems, because between all of us, we have the talent to solve it, right? So this, first of all, is what white men have been doing for centuries, okay? And so we need to take a page out of their book and form our own squads. Now, we don’t necessarily have to have squads with, you know, straight white men that we don’t with, right? Although some of them are great, not, we’re not mad at all, y’all, but you can, you can look to your community and say, like, who was in like my network, do I really want to be connecting with on a regular basis, that I want to meet with on a regular basis, and that I want to share my goal with, goals with and we work together towards it, because there is a stat that shows, if you try to reach a goal by yourself, you have a 10% chance of achieving it. If you’ve got a squad that you meet with on a regular basis, they know your goals and they you help hold each other accountable. 95% you have a 95% chance of hitting your goal. If you got a squad. You meet regularly, and you share your goals and you hold each other accountable. It’s like, come on, let’s just get this done.

 

X Mayo  33:07

I know Rachel, I’m with you, and I have found that with my business partner and friend Novi. We met at UCB eight years ago, and Novi and I would like to think we can work well with other people in groups, but when it comes down to it, like her and I are doing most of the work, we’re always on time, and we believe that even on an independent level, when we’re doing something that is not commissioned by a studio, because we work in entertainment, even if it’s just an indie project that we’re working on, we show up early, we highly prepare, we read everybody’s stuff, but we’re recognizing everyone doesn’t have that same pedigree. And I love her. She’s a sweet girl, and she would like to believe that there’s more people out there like us. I said, Girl, I don’t believe so I think when it comes to you and I because her and I were just like, No, we don’t have children. I don’t need I want money. I want to do this bitch. I’m fucking folk. This is what I’m gonna do. You know? Yes, I would love to. I think I’ve been able to outsource to different people in my community that are amazing and wonderful and can come in when called upon, but on the everyday situation. And her and I have started our own studio. It’s just her and I, and I do believe the goals that we’re gonna achieve, and at the rate we’ve been able to do stuff is because we have each other. Yes, my last question is very important, because you talk about the future millionaire. And a lot of times on the show, when I ask people what they learned about money from their parents, their answer is nothing, or just like, you need to earn it, make it. You know, do you have advice for parents listening on what they should be. Teaching their children about money.

 

Rachel Rodgers  34:43

Teach them how to dream. Okay, they teach them how to dream. Give give voice to their dreams. Have them create vision boards. Have them write it down, put it up, celebrate their dreams and then help them achieve them. Because we have to believe in this future that we. For ourselves.

 

X Mayo  35:00

Absolutely.

 

Rachel Rodgers  35:01

And it’s what little kids do is you squash their dreams by making them think that it’s not possible. Don’t try to teach your kids to be practical. Ain’t not practical about my life, your life acts Right? Like none of this is practical, right? So don’t teach practical. Instead, teach them to dream. And then in this book in future millionaire, all the steps to make that dream happen. They’re in there. Read it with them, right? So that they can see the pathway to make it happen. But their dreams are achievable. So start with teaching them to dream, and start of teaching them to, you know, scrounge and they gotta work hard and like, life’s gonna be miserable once you have to make money. Cut all that out, right? That actually stops us from going after what could be, right? And the million dollar dreams that we have, so that’s what I would tell them to do.

 

X Mayo  35:44

And I’d also like to add, maybe, if you have some advice, because unfortunately, we do come from a community where it’s probably difficult for the parents of these children to teach them how to dream, because we are single parents, or, you know, we work very physically laborious jobs, so like to come home and try to, you know, like, I was very blessed to have an amazing parent that also had an amazing community that came and rallied around everything that I wanted to do in pursuing my dream since I was a kid. What advice would you have for that parent, to parent them, to kind of help them dream? Because I think it’s so simple to say, like, teach your kids how to dream, but like, what would be step one if that parent themselves doesn’t know how to dream?

 

Rachel Rodgers  36:27

Yeah, so you know, if your kid says, like, oh, one day I want to be an astronaut, just encourage them. Is literally teaching them how to dream. Is just encouraging them, because kids are naturally going to dream. They don’t need to be taught. We believe in ourselves as as young people, and we are taught to stop doing that right, right? So I’m saying cut that off and just be an encourager. Because just you said you were encouraged by your community. Same for me. My mom worked as a at the grocery store, right? Like she struggled financially. She was a single mother. My father passed away, right? Like, and guess what? All she did was encourage me all day long, and whatever time I said to her, which constantly changed, by the way, she was like, of course, you can do that. And I believed her, right. That’s all it was. So that’s all you need to do. That’s such a huge step. Just that one alone is gonna game changer.

 

X Mayo  37:14

No, I think  that’s wonderful just to say you absolutely can do it. Now, if they say, you know, you know, if they want to be, you know, just a mass murderer. Say, taste stop one.

 

Rachel Rodgers  37:25

That one, no.

 

X Mayo  37:26

Now that dream, we can shut it down. That’s actually shut down. Yeah, all the way down. Rachel, oh my god, I freaking love talking to you, and I would love to know, where can the people find more of you on the socials?

 

Rachel Rodgers  37:39

Yes, so I’m on Instagram. Rachel Rogers, Esq, same on Threads on YouTube, at youtube.com/helloseven. Come find me. And then if you want to get the book, futuremillionairebook.com.

 

X Mayo  37:50

And don’t forget to pre order it, because it’ll be available may 6, right? Pre order. Okay?

 

Rachel Rodgers  37:57

Dance for the pre orders.

 

X Mayo  37:58

Yes, no, we do. And Rachel, are you accepting new clients?

 

Rachel Rodgers  38:02

I am accepting new clients.

 

X Mayo  38:03

Okay, yes. But also, hello, you gonna pay? Don’t forget, listen, okay, don’t get it up. They don’t call her Rachel watchers, aka the mob boss for nothing. Oh my god, Rachel, it was such a pleasure speaking to you. I’m so happy to be the newest member of the millionaire squad, aka the Millionaire Mob. I can’t wait to meet you and hug you in real life in the NYC, and I can’t wait to see all your pictures from you in Portugal with your mans.

 

Rachel Rodgers  38:33

Yes, exactly. Thank you so much for having me.

 

X Mayo  38:36

Yes, you’re the best. Bye.

 

X Mayo  38:40

Okay, from now on, consider me the VP, treasurer and Secretary of Rachel’s Millionaire Mob Squad. But if any federal agents are listening, it’s all culture. I promise all of our mafia activities include movie nights. They’re legal. Don’t forget, my girl, Rachel is a lawyer. Okay, Rachel dropped a lot of knowledge to get us on the path to Seven Figures. First of all, it’s clear your mindset is everything. As Rachel says in her book, you can’t be a millionaire when you’re making broke ass decisions. Second, everyone has a skill they can monetize. You’re good at something, I promise, and you can turn that talent into something that will get you paid. Finally, and most importantly, charge what you’re worth. I’m not talking about market price. In fact, take the market price and double it when we as black people and people of color as marginalized groups, finally start setting the bar high, it uplifts all of us. All right. Now, go tell your Alexa to the play Beyonce, preferably formation, and get your money, okay.

 

CREDITS 39:49

The Dough is a Lemonada original. I’m your host X Mayo.  This series was created in partnership with Flourish Ventures.  This series is presented by the Margaret Casey Foundation. Our producers are Tiffany Bui, and Dani Matias. Kristen Lepore is our senior producer.  Mix and Sound Design by Bobby Woody. Original Music by Pat Mesiti Miller. Jackie Danziger is our Vice President of narrative content.  Executive Producers include me X Mayo, Stephanie Wittels Wachs and Jessica Cordova Kramer.  Help others find our show by leaving us a rating and writing a review.  You can follow me on IG  @80dollarsandasuitcase and Lemonada @lemonadamedia across all social platforms, follow The Dough wherever you get your podcast or listen ad free on Amazon music with your Prime membership, thanks so much for listening. See you next week, bye.