How do you come up with a million-dollar idea? In last week’s episode, seven-figure entrepreneurs Teri Ijeoma and Tara Reed shared how they came up with theirs, and what helped them turn it into a reality. This week, we’re back for part two, and the three of us are going deep into the mindset it takes to create millions and answer your questions about how to make it happen.
If you’ve got a million-dollar idea, you’ve got to sell it to every stakeholder. That means your partner and family, your potential client, but most of all you also need to go sell it to yourself, and we’re talking about how to get your mindset right, so you’re ready to take the opportunities that are going to make you a millionaire.
Tune in this week as we discuss all the things that could have derailed our million-dollar ideas, and how we overcame them, creating massive returns on the other side. The three of us are at the Rodgers Ranch answering a ton of your questions about your offer, strategy, knowing what you want, being seen, living well, and everything else that’s going to move your business to the next level.
ROI: The Millionaire Summit is our first big, annual conference where over 1000 diverse entrepreneurs head to San Juan, Puerto Rico. It’s happening January 24th through 26th 2023 and it’s three days of amazing speakers teaching you how they made their first million, and how to make your next million. So, if you want to learn from the best while also seeing yourself and your identity reflected on the stage, click here to get your ticket now!
You want to reach or exceed seven figures within the next year? We can help get you there! Click here to learn more about The Hello Seven Mastermind.
Join us every Tuesday at 7pm ET for our Premier Watch Party over on YouTube!
Miss the LIVE Watch Party? Check out Part 2 of Rachel's interview with Tara and Teri below!
What You'll Learn from this Episode:
- What it looks like when you’re trying to do business for someone else, not for yourself, and you’re not happy with it.
- Why you need to be quick to curate what you’re allowing to influence your brain.
- How so many people ignore their own voice when trying to figure out what they want.
- Why you have to sell your ideas, even when you’re giving them away for free.
- How people rob themselves of opportunities because they’re not willing to make the investments that really pay off.
- Why the recession is an opportunity to make bank, as long as you’re ready.
- How holding onto your cash too tight stops it from growing.
- Our strategies for getting in front of more people and making your million-dollar idea a reality.
- Actual work versus busy work, and how to decide on the next action you can take that will actually move the needle in your business.
Listen to the Full Episode:
Featured on the Show:
- Check out our game-changing program, We Should All Be Millionaires: The Club, and learn how to make that Black Friday cash today!
- Follow me on Instagram – and ask me your million-dollar questions!
- We Should All Be Millionaires: A Woman’s Guide to Earning More, Building Wealth, and Gaining Economic Power by Rachel Rodgers
- Learn how to make money faster, more efficiently, and on-demand … no matter what is happening in the economy. Click here to join the Make Money Moves challenge waitlist.
- Tara Reed: Website | Instagram
- Teri Ijeoma: Website | Instagram | Facebook | YouTube
- 014: Marriage and Entrepreneurship: Challenges, Benefits, and Teamwork
- 094: Marriage, Family, and Entrepreneurship with Dediako Rodgers
*** Some of the links shared here are affiliate links – we only serve as affiliates for products we believe in.
Tara: Here's the other thing you have to get ready, is mindset too.
Tara: Because it's so easy to have growth in something and opportunity come, but you're not ready for it.
You want to make more money? You are in the right place. Welcome to the Hello Seven Podcast, that’s seven as in seven figures. I'm your host, Rachel Rodgers. On this show, it’s all about you and your money. We talk about how to maximize your earning potential, how to make better financial decisions, and how to find your million-dollar idea, that genius business idea that’s going to make you a whole lot more money. I’m here to show you how to expand your income and expand your confidence, power, and joy.
If you are a woman, a person of color, a queer person, if you’re a person living with a disability, or you don’t fit the stereotypical image of what a millionaire is “supposed” to look like, this show is for you. No matter who you are or what you do for a living, you could be earning a lot more than you currently do. Your journey to wealth starts right here.
Teri: How many of you all, and this is for those in the chat and then also you guys, can admit that there has been a time where you've tried to do business for someone else and not for yourself?
Teri: Like your ideas, the thing that you were doing in the business, all of it was just to serve their needs or someone else's needs because you felt like that was the only way that you were going to make money. And if you were true to yourself, you would say like, “This is not for me though, I'm not happy here.”
Teri: Have you all been in places like that?
Tara: I haven't started it that way, but it's kind of like morphed into that on accident. So if I think about like my first app, I was really excited about art and helping people find and discover art. And I was excited about that for myself.
It started really centered on like what I was excited about, what I loved, what I can make money on. It started there and then I think we started having conversations with investors and friends and family. And like all kinds of people had opinions about the way that we should do it.
Tara: And it just started kind of getting funky because I was like taking in some of that. And so it kind of got morphed in a way that I ultimately had to do a lot of work to untangle all of that, which took time. I think looking back I would have loved to not get tangled in that whole confusion about what other people, doing it for other people, what they think, all of that.
Rachel: Yes, I agree. I think you have to limit who you allow to influence you. And you got to be conscious of it, right? Like even on Instagram, I am quick to curate my feed, right? Like I am quick to like shut down. If I'm reading a book and I discover like we're not aligned, I'm tossing it. I'm not reading it, right?
Teri: Oh, that’s chapter one for me.
Rachel: Like whatever it is, you got to be careful about who you allow to influence you, right? Because this is a million dollar machine, right? Like your brain has the opportunity to do all kinds of things. And if you let people who can't imagine it because they haven't done the mental work, or they don't believe it for themselves, so therefore they can't believe it for you, they're not worthy to hear your dreams, do not share it with them, right?
Find people to connect with who will believe it, right? Who will support you, rather than sharing it with people who you know are going to tear you down, right? Like stop doing it, right? Don't do it over and over again and then have it like, you know, hurt your feelings repeatedly. Then you got to, you know, doubt yourself, go through a whole journey. I don't want to go through that. Listen, you don't get to hear my dreams, you'll see it on the other side.
Teri: This is a question for you, Rachel. Someone said that their spouse doubts them often. How do they deal with that? I mean, you have a supportive husband, but you're the only one of us who has a husband at the moment.
Rachel: Well listen, he didn't start off super supportive, right? He's supportive now. I mean, we have a whole ranch so it's easy to be supportive now. No, he's been supportive for a long time. But in the early days he was like, “When is this thing going to start making money? Like I think you need to get a job, okay? Put that law degree to work, baby girl, and go get you a job.” Okay, that's what he was telling me.
And honestly, he was staying home with the kids while I was trying to get this law practice up and running. And he would keep trying to go get jobs and I'd be like, “I just need you to stay home with these kids. Let me work and you just stay home, it’s about to work, it’s about to pop.” This is what I used to say to him all the time.
So I used my influencer strengths to be like, “Listen, stick with me, okay?”
Teri: It’s coming.
Rachel: It’s coming. Little did I know it was like three years away, but whatever. It's still coming, though.
Tara: It was coming.
Rachel: It was coming though. And I say to him all the time, you know, I always say to him, I'm like, “I was a good investment, huh? That was a good investment on your part.” Because, you know, he gave up his career and he stayed home with kids for years. And there were times where he's like, “I know you believe it, but I'm not believing it right now.” You know? And just have to believe for the both of us and I would just say stick with me.
I think sometimes we forget, like you got to sell your ideas, right, to all stakeholders involved. So if your partner is a stakeholder, sell your ideas to them, right? They're invested, right? If they were to go take a job or do something, that would affect you. So I think it makes sense to sell them on your ideas, right?
I sell my kids on my ideas, here's why this idea is great. Here's why you're going to love that mommy is doing this thing, right?
Tara: Because if you’re not going to sell it, who else is it?
Rachel: Hello. And if you're not going to sell it, then do you even want it, right? Because you're going to have to sell it to your clients and customers. You have to sell your content even, free content. We had to sell y’all on coming in here, right? We had to send y'all a couple emails and tell you it was going to be valuable, right?
And so you have to sell your ideas, even when they are free. And so do that with your partner as well. Also, I encourage you to have them listen to, on the Hello Seven podcast I have two different episodes that I've done with my husband. So go find those episodes, you'll see a picture of both of us, that's how you know. And we talk about the division of labor and like being the spouse of an entrepreneur, and just all of the challenges and all the things.
So you can hear directly from him, and listen to it with your spouse and I think it'll spark some good conversations. And you can say like, “Listen, I need your support. I need your help, right? Like I need you to support me in this vision and in this dream, right? Because if you don't support me, it's going to be really hard for me to make it happen.”
And that's the truth because they're an influencer, right? They’re in your ear every day. So just tell them what you need. Sometimes we just need to ask for what we need from the people around us.
Tara: That’s so good.
Teri: That’s so good. That's so good. [Inaudible] says, “So encouraging, you must sell your idea continuously.”
Teri: And everyone's saying thank you for sharing. There is another question that came through, y'all ready for a question?
Rachel: Yes, let’s do it.
Tara: Yeah, let’s do it.
Tara: So [inaudible] says, “Question, so someone said do not follow your passion, you should follow your effort. For example, if following passion I try to be an NBA player at 45. Thoughts about following effort?”
Rachel: Well, I mean, what do you mean by effort? Is that just like, to me you only put effort into the things that you're actually interested in or if you have to just to get results, right?
Or because you care enough, like it's effort for me to get myself off the couch and go wipe my son's butt when he's like, “Mommy, I pooped.” You know? And it’s always when I'm like about to eat a snack, my show is on and I got to get myself up, right? So like I care about him enough to get up. That’s effort, but that's not necessarily my passion.
So I don't know if I agree. I think effort, passion, I think sometimes is just wordplay. I would just think about where do my interests lie? What intrigues me? And I think that you put effort into the things that excite you, that interest you enough to sustain your interest. And so I think they can be sort of the same thing.
I do think we can get caught up on like, I'm not passionate about anything, right? That can happen too. I think just follow your desires. What interests you, right? Like you were interested in real estate, you started down that path and wound up somewhere else, right?
Rachel: When I was a little girl I wanted to be a lawyer. I went to law school, I practiced law. And then I was like, “Okay, I'm done with this, actually.” That practicing law was just meant to lead me to becoming a business woman, right? How could I know that at the beginning? Sometimes you just got to follow the steps and follow the journey and see where it takes you.
Tara: Have you guys seen that Disney movie Soul?
Tara: I love that movie. And in that movie there are two scenes that I think like standout particularly to this conversation. One, like the souls are before they come to Earth. And one of the like the leaders is like, “Oh, you humans and your purpose, trying to figure out like your exact purpose.” Like so basic rudimentary that we're like still trying to find this purpose and what I'm passionate about. Like just working so hard on it.
Tara: And that's not actually what life is about, life is about sort of being present in the moment, the leaf falls and you're able to be like, “Oh, that's interesting, let me look at that. Or what about this? That's interesting, look at that.” And those are the things that sort of wind you to the things that are prosperous for you, the things that are interesting for you.
Because it's not just passion, it's the intersection of these things if you want to be in business. There's also just things you do just because you like them and you're passionate about them. But I think the following of like, oh, this is interesting, I'm living in the moment, there's an opportunity. I think I'm being called that way. And just listening to that.
Tara: That's what I think leads you there.
Rachel: Well here's what I think part of the problem is, I think we are trained, especially as women, as people of color, to not follow our desires.
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Rachel: So I think we can't find our passion and we can't figure out what we want to do because we don't even know what we want because we have stopped listening to ourselves, right?
You listen to so many other voices, or you just kill that voice inside every day to the point that you now can't hear it. And that's why you can't find your passion. So what I recommend to do is just wake up every morning and say, “What do I need? What do I want?” Just ask yourself that the moment you wake up and just listen for the answers that come, right?
And then you start to just hone that listening. Instead of listening to all the other outside voices, make sure you're listening to yourself as well and hearing your own voice. Practice it because I do think that you can sort of dull the voice in your head and struggle to figure out what you actually want.
Teri: Yeah. True story, so back when I was trying to decide if I would leave the school I asked my mom, and her response to me is, “Nobody likes their job, we just do it because you have to do it. And then you get to do the things you like to do on the weekends.”
Teri: And so she just thought I was the craziest person for wanting to quit my job because no one likes their job.
Rachel: Yeah, that’s not a thing we do, loving your job is not a thing.
Teri: You just do your job to make money, and then after is when you have your fun.
Teri: And to your point of like we've been dulled down and conditioned, I think that for a lot of people, that's what we've been conditioned to think. Like you just do what you need to do to make money, and then if at any point you get a slither of time, maybe on that one vacation day they actually let you take.
Teri: Or that one night that you didn't have to work because the project was done, then you can kind of maybe find that one hour to do something that you actually wanted to do.
Tara: This is a little bit, I think, generational too, right?
Rachel: Yeah, 100%.
Tara: There's a generational trend in here where just, I think our generation is so much like, “No, I want to find something that makes me money and I'm excited about and find both.” So some of this is generational. And some of it too, is like the sequences of steps that you take in a family line.
Tara: Right? Like my family was very big on this, which was like your only job is to just do something more than I did. But when you do that, and when families do that, which I think a lot of us are, you know, we're experiencing something different than what our parents experienced in some capacity. When you do that, then some of those next steps mean that your job is to spend more time not just doing what you have to do, but doing what excites you.
Tara: Like that's the growth of a family line.
Rachel: I totally agree, right. Like enjoy your life for the ancestors that couldn’t, right?
Teri: I'm glad you guys said it that way. Because in my head I was taking it a different way. I was taking it like because you have to do more, more pressure is on you. So then you really don't get to be who you are because you're living for your family.
Tara: Right, well I think the thing is that if you're going to do something more than your family, you're going to be doing stuff that they can't even imagine.
Tara: So the stuff that they're coaching you on is inevitably a little bit off because they can only coach you on what they did and what they thought to their level.
Rachel: Right. Just think about the internet. The internet is still relatively new, right?
Rachel: And all the tools we have. Like when I started my business in 2010, a lot of these tools were, like Teachable didn't exist, right?
Tara: No, it didn’t.
Rachel: A lot of these tools were not available yet, right? Even just in the last 12 years. So I think that, yeah.
Tara: They may not get it.
Rachel: Exactly they’re not going to get it because they’re not seeing it’s possible.
Teri: And they can’t.
Tara: My mom's favorite line is like, “Girl, you're not working, you’re just messing around on the computer.” Which I’m like, “I am on the computer, that's true, but I’m also running multiple businesses from this computer.”
Rachel: And then they see you start buying property, and start paying for their trips, and paying their rent.
Tara: Yeah, it takes a minute to see.
Teri: And then they come on board.
Rachel: And then they’re like, “Oh, so you actually making real money on here. How does this work?”
Tara: But there's a delay. In the same way that you were saying there is a delay in getting even your husband on board, there's a delay in everybody being on board. So if you're looking for everybody around you to be on board now, like it's probably not going to play out that way.
Rachel: No, you should expect to be misunderstood as an entrepreneur because you're creating the future that doesn't currently exist. The thing that you want to create doesn't exist yet, you have to build it, right? They can't see it, right? You're like Noah building an ark in the middle of the desert for 120 years. That sounds bananas, right? Everybody was mocking him. Nobody believed it, right?
Rachel: And yet that flood sure came, right? So did ours, our floods came too, right?
Teri: And we had the ark already built. That’s the thing, we were ready at the right time.
Teri: Somebody today asked me about like, “Well, aren't most businesses or most wealth made during a recession?” The answer is, yes, but you already have to be ready. Like the recession usually lasts for some time. So it could be, it could last for about a year. During that year you don't need to invest at the front end, you got to be getting ready preparing things so that at the tail end you're able to still take advantage of the opportunity.
Rachel: It's so true, like even when the pandemic came, right? Like I've bought a lot of property in the last few years because the interest rates were so low. There were so many opportunities I was able to take advantage of because I've been building a business for 10 years prior to that.
Rachel: You know what I mean? And I had capital just ready and waiting to make moves.
Teri: To do it.
Rachel: Yes, exactly. And so like, start today, right, and be ready, right? Get yourself ready. The best time to start was like probably five years ago. The next best time is today.
Tara: You can go through really any industry and see that as the model, right?
Tara: That it looks like they took advantage right at the recession period, but there was some sort of iceberg underneath preparation that happened. If you look at big tech companies, for example, you look at like Airbnb and Uber and all these companies that started during recession periods. But it wasn't like the first time they thought about it was then.
Tara: Or the first time they started collaborating and talking to friends about the idea and finding co-founders and partners, that wasn't the first time. It had happened already and then you were able to sort of have the right timing.
Rachel: It’s so true.
Rachel: It’s so true. I had a video in 2020 go viral and people were like, “Oh, I'm so glad I found you,” as if I started my business like just then. But I had been in business for 10 years prior to that, right? Or eight years, whatever. No, 10 years, yeah, it was 10 years. So because I had been in business, all of a sudden all of this new audience was available to me, right, and like coming and being interested in working with us.
And we already had a team, we already had the infrastructure, right? We already had the offer, we already had the expertise. So that when all of that flood of new clients came in, like if you were to build a business or some of you who are business owners right now, if 1,000 new clients came to you today, you probably couldn't handle it right? Even if 25 new clients, depending on what you do, you might not be able to handle it.
So getting ready is key. And that means making those investments in yourself and in your business, and time investments, effort investments, financial investments before you are going to see the immediate return, right? Before it's absolutely needed.
If I had said I'm going to wait and build my team on the other side of like, you know, once I have big success or whatever, then it’s too late by then. You will lose all those clients because you don't have enough people to serve them. So you have to believe, right, and get ready.
Tara: Here's the other thing you have to get ready, is mindset too.
Tara: Because it's so easy to have growth in something and opportunity come, but you're not ready for it.
Rachel: Yes, it’s so so true.
Tara: You're not ready for it. I had to spend a lot of time with a hypnotherapist on my relationship with money.
Teri: I love your hypnotherapist.
Tara: She’s so great.
Teri: You got to tell them about it because I love what she did for you.
Tara: Yeah, no, she's been so great, her name is Abby. We worked on two main things. When I first met her I was like, “I need help with my relationship with money.”
And I knew that I needed help with my relationship with money because this was, I don't know, years ago when I was starting this business, when I started Apps Without Code. And we had a week where we made $100,000 in that week, and that was the most I'd ever made in a week at the time.
And I was like, okay, I'm catching up on some things at that weekend. I was catching on some things and I needed to get my nails done, but I wanted to get the fancy design on my nails. And I was like, “That's going to be too much money. I don't know.”
Rachel: Oh my God.
Teri: She made made 100,000, but she doesn't want to spend like $20 on her nails. That’s too much.
Tara: Right, to get my nails done.
Teri: That’s too much.
Tara: But it was like opportunities came but my mindset was not ready for it.
Tara: Was not ready. And so I knew then that I needed help. I actually had met a different hypnotherapist than the one that I started working with shortly thereafter. And I didn't want to work with her because it was too much money, again. Again, I didn't want to pay for it.
Teri: Yeah, how many people can relate? I see y’all in the chat.
Rachel: Yes, I don’t want to spend the money, right.
Tara: I didn’t want to spend the money.
Rachel: Because you know why? Because people look at the cost and not the value of the thing.
Rachel: Oh, it's going to cost $250, or even the nails. The nails are going to cost 20 bucks. Okay, but how is it going to make you feel?
Tara: I’m going to feel fly.
Teri: Right, when I go into this thing I’m going to present myself better.
Rachel: Yes, you’re going to be feeling yourself. Now you’re going to go live more, right? Now you're going to promote yourself more. Now you're going to make more money as a result, right? So like the $20 is a great investment that leads to probably five new clients, right, on the back end of that, right?
But we don't want to spend it because we’re thinking about, “Oh, I'm thinking about the $20 rather than the $5,000 on the back end.”
Tare: Yep. No, that's exactly right.
Teri: I had this visualization when you said that, like we're thinking about it coming out of our pocket. Like we're literally thinking, okay, this $20, I'm thinking about how it's going to take away from me.
Teri: Instead of how it's going to actually add to me.
Teri: That's so powerful.
Rachel: Literally like that, to me, that's the key to unlocking being a great investor or being in business, right? Being willing to sacrifice this small amount of money for the short term, you're not really sacrificing it, you're investing it so that you can see a return. And being willing to wait a little while to see that return and then see massive returns on the other side, you know?
Rachel: For example, I just had a new masterminder join. My mastermind is $100,000, okay? Put some respect on it, and it's worth every penny. So anyway, she joined the mastermind in August. And she was hesitant, like a lot of people are, and a lot of people say no, right? And I get it, that's fine, right?
So she spent $100,000. I just saw her this past week for our mastermind retreat. Less than 30 days later, she has made that $100,000 back.
Teri: So great.
Teri: So great.
Rachel: So she made that $100,000 back, learned a new skill so she could do it every month if she wants to.
Rachel: Right? And then also like this is just the beginning, that was just her earning back her return. And so I think people rob themselves of opportunities because they don't want to pay the cost to get the big value on the back end.
Teri: What did it take mentally for you to be able to give that offer? Was it hard?
Tara: To charge that.
Rachel: Oh, I was thinking about, because I stopped doing masterminds because I was like, well, my time, if I think about the value of my time, to take it away from the time I would spend in my business, or the time that I would spend at home with my kids, it's just too high. So I was like, well, no one's going to pay that I'm just not going to do a mastermind, you know?
And then I just started thinking like, well, the only way I could do a mastermind is if I charged six figures, right? And so then I just thought about it for a long period of time. And then I was like, okay, fine. I'm just going to put it out there and see what happens, right?
Rachel: So it took a while to sort of build up the courage a little bit.
Tara: To do it, yeah.
Rachel: Yeah, to do it, but I kind of got to the place where I was like, well, either people are going to buy it or not. And if they don't buy it, that's fine, I'm going to sit on the couch and chill. I'm going to hang out with y’all, I’m going to go and get cocktails, get our nails done.
Teri: Yeah, that’s right.
Rachel: Hang out with my babies, right? So it's like if somebody says no to buying the offer, cool, I don't have to do the work. When I was practicing law, do you know how many times I would do the work and not get paid, okay? On the back end of that I’d rather not do the work and not get paid.
Tara: Do you guys think about money as energy flow at all? Or is that just my woo-woo self?
Rachel: No, I think that’s right.
Teri: Since talking to you, yes. Yes, like that is now part of my life.
Tara: Because sort of what we're talking about, right?
Tara: The way that like it's cyclical, it sort of flows back and forth and you flow out and it flows back in. And so many times we're trying to like hold it.
Rachel: Holding it so tight, holding it so close, you're stunting the growth of that pile of cash.
Rachel: It wants to grow, but you won't do the things because you too shook to do the things to make it grow.
Tara: I got this understanding from this interview that I watched from this, I forget her name. She's like a South African actress and she's explaining her relationship with money. And she's like, “Money feels comfortable around me. Other people make money feel weird.”
Teri: That’s on Instagram too.
Tara: Yeah, it's a viral video, but it's like money feels comfortable around me. So like when it comes and other people are making it feel weird, but it'll come sit down next to me.
Tara: Because I'm not making it feel weird, the energy of money is my friend. We're buddies. I’m not scared of it.
Rachel: Yes, money loves me. Isn’t that so much more powerful instead of just constantly saying, I don't got enough money, I can’t afford it.?
Rachel: First of all, I don't even allow myself to say the words “I can't afford it.” Just like, no.
Tara: Because it’ll flow.
Tara: It’ll flow.
Rachel: I'm not bringing that I can't afford vibe into anything. And also afford, to me, is a construct in a lot of ways, right? I'm like, I can buy anything with my creativity. I can come up with a creative idea to buy the things that I want, which is what I usually do. So there's no point, there's nothing I can't afford if that's the case, because I have endless creativity.
Teri: Myron was talking on a stage, we talked about Myron Golden earlier, and that's a big thing that he talks about.
Teri: It’s not so much that you can't afford it. What you're really saying is, I don't want to do that right now.
Teri: Or I don't want to put in the effort to go figure out how to make this happen.
Tara: A way to do it.
Rachel: Oh, that too, exactly. It's just another way of saying it's not worth it to me, it's not worth the energy, it's not worth the effort, I don't care enough. And that's fine. So that's why I tell people it's not about your prices. When people say, “No, I don't want to buy that thing.” And they’re like, “Well, I got to lower my price, no one wants to pay that price.” It's not that. What else about the offer could it be that's preventing them from buying it?
We just assume that it's about the price. A lot of times it's not about the price, maybe it's about the time, maybe it's about they wanted something else thrown in, right? It could be something else entirely, it's not necessarily the price.
We think it's about the price, we attach this thing that, “Oh, it must be the price, that's why they won't buy it.” No, they're not buying it because they don't want it, right? It's not important enough to them, right? So talk to the people who do want it where it is important to them, that's all you got to do.
Teri: And just for the people out there, I know some of you might be thinking, “Well, you guys can afford it. Like y'all are on this stage so that's why you say this.” But it's not so much that, it's more the mentality of maybe it's not so much that you can't afford it right now. Yes, your bank account may not have the dollars right now, but that means that in time you could still get it.
Teri: If it's something that you wanted you can save up for it, you could figure out a way, you can talk to someone. But just the limiting belief, though, of I can't afford it will stunt your growth in some aspects. So that's what we're saying.
Rachel: Yes, what's a money move that you can make, right? Like what's the money move that you can make to make money move towards you?
Tara: And sometimes the thing you have to do to make it work is stop trying to make it for everybody. I see this happen all the time in my boot camp and my app training program, that people are like, “My app is for everybody.” And the problem with trying to make it for everybody is there's so many people who are like not a good fit at all.
Rachel: Yeah, if it's for everybody it’s for nobody.
Rachel: You got to call your people out, right? When we buy something we want to feel like it's specifically for us.
Rachel: So if you speak to exactly my situation, like you know, a 40 year old mom with kids or whatever, or whatever it is, even going to deeper than that personality wise, right? Different attributes, right? You got to go deep and talk to your people. Don't be afraid to talk to your people and say no to the people you don't want to work with.
People always think it creates lack, but actually it creates abundance. The more you say no, the more standards you have, right, it's like the more people want it.
Rachel: The more you chase people and have desperate vibes, the more they run away from you.
Tara: Yeah, but the riches are in the niches and you going specific.
Teri: They really are.
Teri: They really are, and you get to actually be around the people you like.
Teri: Because if you’re running business, like we're back into the are you doing it for them or doing it for you? When you start really honing in on who you want to work with, then those people will be around you and then all of a sudden you have a better business.
Rachel: Exactly, it's so true. It's so true.
Teri: Let me see what other questions people are asking. Okay guys, this is the time, put in your questions. I know you've been putting them in throughout.
Teri: But if you have anything else you want to talk to us about, come in, bring them in now.
Rachel: Now is your chance.
Tara: Now is your chance.
Teri: Right, now is your chance.
Rachel: There’s a lot of genius on this couch.
Teri: And how are y'all doing on time? Y'all all right? Because we going a little bit, but I know we started a little later, so we're going to make sure we give you guys all the value that we can.
Teri: We flew in for this. Aren't y'all happy?
Tara: We did.
Teri: We flew in so we could all be at Rachel's beautiful ranch. Thank you for having us. This is gorgeous.
Rachel: Oh my gosh, anytime. I love it.
Teri: Oh my gosh, you guys, literally when you come on to Rachel's property, there's these huge tall trees. It's like the trees are, maybe this is energy, you give this to me. But like the trees are saying hi to you, they start like blowing in the wind.
Tara: Sort of waving hi.
Teri: It's just like, it’s just so relaxing. So thank you for having us.
Tara: Yeah, it’s lovely.
Teri: It really is refreshing.
Rachel: It's a chill vibe.
Tara: it’s a chill vibe.
Rachel: Because you know what? The Internet is a lot, kids are a lot, I need chill vibes. And I love sharing it with my friends.
Teri: Thank you.
Tara: Thank you for having us.
Rachel: Okay, I saw a question in there that was saying how do you differentiate between actual work and busy work?
Teri: Yes. So to tell you the truth, I haven't mastered this.
Teri: Recently I've been in a like no work.
Rachel: No busy work, no actual work, no work at all.
Teri: Where I am is like in between paralyzed. I don't want to do nothing.
Tara: And you deserve that. You get to have that for a minute.
Rachel: Yes, breaks are important.
Tara: You get to have that.
Teri: That's true. I have been working like so hard for so long. This is something I've realized for myself, like we hit some huge milestones recently but I just kept going and didn't acknowledge them. To our point earlier, like I didn't celebrate them. It was just like, keep going, keep pushing. But now my body is like, “ Can I get you to take a break?”
Teri: Can I get you to actually just rest? Like let's drink more water, let's get your sleep on track, let’s get your stress down.
Tara: And that’s where the ideas and the innovation come.
Rachel: It’s so true, I did that after my book launch because I definitely went way too hard. People were like, “Pace yourself. This is a long, it's a long marketing period.” And I'm like, “I’m going hard,” right? Like didn’t listen to anybody and definitely burnt myself out. Literally like within weeks of the book launching I was like, “Party done, I ain’t got nothing for you, even if I wanted to.” Party done.
So yes, rather than burn yourself out, pace yourself, right? Take care of yourself on a daily basis, rest, move your body, right? Like have downtime, release the stress, release the anxiety. I think that's such an important part of the cadence.
Teri: Do you guys have frameworks around actual work versus busy work?
Tara: I do. I do this with my team, my leadership team. And I got this framework from my friend Thomas Stovall. So what I ask everybody on my leadership team, and I do this with myself too, is what is the one most important action you could take this week to move the needle forward in the business?
Teri: That’s good.
Tara: And it takes some practice to do this. And it helps to have someone sort of be accountability. But sometimes people will write something that they're excited about and I have to go, is that the thing that will move the needle forward significantly? If not, delete, delete, delete.
Rachel: Busy work.
Teri: Or just bank it, because sometimes my team will be like, “You never say yes to our ideas.” It's not that it's a bad idea, but is it right for right now?
And then you bank it.
Tara: So this is where the second part of the framework comes in. So I ask them to do two things. One is the one most important thing that's going to move the needle forward. And the second one is one moonshot that you're going to take. It's probably never going to land, but you're going to shoot for it anyway.
And that's where you get to put the stuff that you're just excited about, that you think like, if we did this it would be awesome. So one moonshot, one most important action. It has to be a thing that you actually can control.
Tara: So saying something like I'm going to close this deal with a customer, you can't fully control that. But you can control sending the email to schedule the meeting.
Tara: So it has to be a thing you can control so you can have like a series of yeses. Yes I did it, every week because that feels good to have your yeses across the board. And eventually, some of the moon shots hit, and the things that you're trying to do to move the needle hit.
Rachel: I love that.
Teri: Oh, that’s good.
Rachel: So good. So good. My way of doing actual work versus busy work is I just do the things that are in my strengths. And like everything else is assigned to other people that are in their strengths, basically.
So I don't do a lot, I don't spend a lot of time in my inbox. I don't spend a lot of time doing things that I'm not supposed to be doing, right? And I spend so much time in front of a camera now, like teaching or coaching or doing things like this, that I literally can't, right? Because right now I can't check my email, or I can't go busy myself with it.
My work hours are so limited, right? And so I'm like, these are the hours that I can get things done, and that is it. And so I'm just like, get it done, right? These are the priorities, get them done. And then I don't do anything else.
So I think the key is like shortening the list and then limiting the time. Because I think whenever you say, well, I could work for whatever, then you work until 11 o'clock at night.
Rachel: I got babies to go home to, so I have like a built in have to go. Deuces, right? I will see you, right? At five o'clock I'm out, typically. So you know, I don't have a hard time leaving the office at the end of the day because there's always going to be more work.
And so I think the stuff that doesn't get done at the end of the week, if you limit your hours and focus on only the things that need to get done is the busy work. And it's the actual work that you focus on.
And I always say like what's the actions that are going to generate the sale? What are the actions that are going to generate results for our clients, right? Or what are the actions that's going to create more systems and process and help our team? That's all I need to focus on, and forget everything else, you know?
Rachel: If it don’t get done, oh well, it didn't get done. And trust me, here's the other thing, I have people, today I had very aggressive people like messaging me on every channel. They send me an email, they send me a text, they call me, right? And they just like say, “I need an answer today.” You ain't getting it today, you just going to have to be mad, okay? Because I'm busy, your priorities are not necessarily my priorities, right? And you're just going to have to wait.
And that's a million dollar boundary, right? So just having boundaries as well. Prioritizing yourself and what your goals are, and then leaving the rest to like, if I get to it, I get to it. And if I don't, that's fine because it wasn't a priority anyway.
Tara: And I bet there are people hearing this and hearing about how you delegate everything else to a team and thinking like, “I don't have a team, what do I do if it's just me?”
Tara: I know that when I was starting I would barter for my team.
Tara: When I didn’t have money to pay people, I would find people that I really wanted to work with and we would have a sit down conversation. And I would just ask them about like, what they were up to in life, what they were trying to accomplish. And I would try to scan and find the thing that I could help with.
Tara: And so I did so many like service barters when I started, before I could pay people.
Rachel: Yes, that’s a great idea.
Tara: Like I'll help you with this, you help me with this. And then you’ve got a team and it doesn't have to be a pay because the reality is, as an entrepreneur you're doing something that people think is cool.
Tara: You're doing something that like maybe people don't have the courage to do themselves, and people want proximity to that. So you can use this kind of bartering for services as a way.
Rachel: I think bartering is a great idea. The other thing that I do is use apps, right?
Rachel: So like Instacart, right? TaskRabbit.
Tara: I love TaskRabbit.
Rachel: There's so many apps out there where you can get one thing done or where you can, you know, have your groceries delivered so you don't have to go get them and take that off of your plate, right?
Rachel: Whatever support you need. And like my sister, for example, she's got a side hustle as a real estate investor. And so she used to always work with other moms and barter, like you pick up my kids on this date, I’ll pick up your kids on that date. And they just used to help each other.
Tara: In community.
Rachel: Yes. it’s so beautiful.
Teri: And if you're looking for places to barter, conferences. Like I love going to conferences because that's where you meet other people with that interest.
Rachel: Yes, that’s where we met.
Teri: Yeah, we did, at the ConvertKit conference.
Teri: And then I just went to Funnel Hackers for Click Funnels. If you want to figure out how to do funnels, you go to the conference, right?
Tara: You meet people.
Rachel: Yes, exactly.
Teri: There’s like Vade summit. There's a summit for everything.
Teri: Go there and then you can barter.
Rachel: Yes. There's an event somewhere, and probably even near you, right? There might even be an event in your city or in your town where other entrepreneurs are getting together. And just like put some intention and some effort in to find your people.
Tara: And then the work to do is to get out of your own way, out of your own money mindset of, “Oh, I don't know if I should pay for the flight and the ticket and the this and the that.
Teri: Right, you need it.
Tara: You need it.
Teri: You're going to find something there. And if you don't find it there, like don't put the expectation on the speakers on the stage. That's probably not where you're going to find the gem.
Rachel: That’s true.
Teri: The gem is going to be like make sure you introduce yourself to the people around you.
Teri: At least one, if you find a speaker where you're like, “I don't really have to be there,” go in the hallway, because honestly a lot of conversations happen just sitting in the hallway talking to people. And then you're getting to know them.
I saw, so at Click Funnels I didn't, I should have said hi. I should have, like now I'm kind of like, “Dang, I should have really taken advantage of that opportunity.” But I was at Click Funnels and I'm just walking in the hall. And nobody else is really around because I guess everyone went inside. And I look up and then Marie Forleo is just walking by and I'm like, “Hi Marie. Hey.”
And to me, I've kind of looked up to her for a while. So it was just kind of cool. Like when you're there and just have yourself there, sometimes you just run into random people.
Rachel: Yes, there's so much opportunity to connect with people. Friends, people, and like people are just people, right? Even here today, you were here earlier and some of my clients were here, they stopped to talk to you for five minutes, right? And you encouraged them and they were like, “Oh my gosh, that conversation was confirmation for what I need to do next.” Right? It’s just like those little moments, those little conversations in between, that's where all the value is at.
Tara: Yeah. I have to put on an alter ego to talk to people, to talk to strangers like that because I'm not, I have to because I’m not typically excited about talking to strangers.
Rachel: Oh yeah, me neither.
Tara: I would like to be on my computer by myself, like that's my mode.
Tara: So I kind of have to like put on something else. But this has been something that's really been working for me lately and I'm noticing that I'm using my intuition to like lean into like, “I think I should talk to that person.”
Tara: I think we've all had that before.
Teri: Yeah, you feel it.
Tara: Like, I think I should talk to that person. I met someone on the plane yesterday that I was like, I think I should talk to that person. And I just saw, like out of the corner of my eyes something that was on their computer. And I was like, “Use it.” Okay, put on the character for a second. The character would have no problem just being like, “Oh, do you do this? Do you work in education?” We're working on getting our programs in schools. “Do you work in education?” And like we talked the whole plane ride.
Tara: I had to be in a different character to do it, but like that's what I got to do.
Rachel: Listen, find your tricks, what works for you.
Teri: Yeah. And I'm going to pump up Tara. Y'all go to Tara’s Instagram, it’s tarareed_ and you'll see these beautiful pictures that she did of each of her personas.
Rachel: I love it.
Teri: And they are gorgeous. But do you want to tell them at all anything about that?
Rachel: Also very inspiring.
Tara: Yeah. Okay, so for me, I'm really into art. To me like I create these challenges for myself to get out of my own way and to step into the next version of myself. And it's a lot easier for me to do that in some sort of artistic expression.
And so I did this photo shoot, I have a new one that's getting ready to come out, very excited.
Teri: I can't wait too.
Rachel: Exactly. I’m like, “I want to see the pictures.”
Tara: But typically what I do is like there's another version of myself that I know is possible.
Tara: And what I do is I like try it on. Like let’s try on the character.
Rachel: I love that so much, so good.
Teri: So cool.
Tara: And I try to capture it in photos or video, like a thing that I do. And it feels like a ceremony in a way for me because like once you've done it, once you've captured or done the thing or done the challenge, well like now, now you're it.
Tara: This even happened to me. I recently moved to Mexico City and I got an apartment that felt like it was beyond, it was like the next thing. I really love design and I was like, yep.
Rachel: I always recommend, you got to go beyond. Like don't buy the house that you want now, buy the house that you’re going to want in a year.
Teri: Yeah, the future self wants to live there.
Tara: Yeah, and when I got there it was like, “Oh, I'm pretty sure a badass lives here.”
Rachel: Yeah, exactly.
Tara: And who else is it other than me?
Rachel: It must be me.
Tara: So tomorrow when you wake up you got to be, it’s you.
Teri: Be the badass.
Rachel: It’s you.
Tara: And it worked like that.
Rachel: It’s so true.
Tara: I had that conversation with myself. It was like, “It's you, girl, so when you wake up tomorrow.”
Rachel: I love that so much. And it speaks to environment. That's why I put a lot of time and effort into my environment and very intentional about what I choose, right? And I think it's, because when you wake up in a space, like it’s speaking to you.
Teri: It has to feel good.
Rachel: It’s saying things to you, right? And so you may not be able to do a whole redesign, right? But what could you do to make your desk feel a little nicer, right? Or just put up a piece of art that's been rolled up in your closet for five years, if you're like me, right? Start taking those out, and actually get it framed, and put it up on the wall, right?
Like put some effort into making your space beautiful because you deserve that. And then when you do that, even lighting candles, it could be so simple, right? All of these different ways to make your space feel better, it just makes you feel better and you feel like a boss, and it helps you to get into momentum.
That's why it's worth it to do those things, right? It helps you to get up and be like, “I'm a badass. Let's go do this.” You know?
Teri: Random fact, your candle in the bathroom smells amazing.
Rachel: Thank you very much. You can think Bethany for that. I had nothing to do it.
Teri: Bethany, good job. Because that candle, I was like, I'm going to just sit here for a minute.
Tara: Be in the vibe of a candle.
Rachel: Let me just experience this.
Tara: It makes a difference.
Rachel: Listen, I'm obsessed with hosting people. I love hosting people, I love putting on parties, I love hosting events, and curating experiences. You know what I mean? So like I get mad if there's no, I'm like, “Babe,” if we have people over at our house I'm like, “Why is there not handle lit in the bathroom? Let me go find a candle.”
Teri: Do you want to put on blast like the experience you're going to have soon coming up in January?
Rachel: Oh, yes, we are having an amazing retreat in your hometown, now your new home town.
Teri: Puerto Rico.
Tara: Puerto Rico.
Rachel: Yes, it’s called ROI, return on investment. And it's our biggest conference that we've ever had. And it is only open to club members. So we have a club called We Should All Be Millionaires The Club. It's our lowest cost way of working with us. If you want to learn how to build a business and scale your business, you can do it there. It’s a great community, all of our schmillies, shout out to any schmillies that are in the chat here who are joining us today.
But if you become a schmillie you can come to this event and it's going to be dope. It's like the speakers that we're securing are awesome. First of all, I'm like, please get these contracts signed so I can announce them. It's driving me mad.
Teri: So true.
Rachel: Can not wait, it’s holding me up. But it's such an amazing experience and we're going somewhere beautiful to have a beautiful experience. And there's going to be partying, and music, and fun, and dinners, and lots of learning, workshops, inspiration, amazing speakers.
Tara: I’m going to be a speaker.
Rachel: Yes, exactly. And we're having schmillies communicating as well. So we're having our clients, if you become a schmillie you can put your ring in the hat to become a speaker. So we're going to have 10 of our schmillies speaking as well. That's what we're going to open the conference with.
So it's all about, you know, highlighting diverse entrepreneurs and showing all the different pathways that you can become a millionaire.
Teri: I love it.
Tara: That’s so good.
Tara: I think a few more questions and then we can talk about how people can find us.
Teri: And that was a question, just in terms of names Rachael Rogers, Tara Reed, Teri Ijeoma.
Tara: Appswithoutcode.com. And I think if they look below.
Tara: There's a link to it as well.
Teri: it’s in there too, in the description.
Tara: And to things that we have coming up or classes and workshops and things.
Teri: And then tradeandtravel.com.
Teri: There, you got it. That was a question.
Rachel: Someone asked what’s a schmillie. A schmillie is short for a schmillionaire, okay? That’s what we refer to our clients as.
Teri: I love it. Love it.
Rachel: And you can thank Cardi B. for that.
Teri: All right, I'm going to rapid fire questions because I don't like to tell them to do it and then we don't ever get to it. So you got like 30 second response on these.
Rachel: This is fun.
Teri: And I'm going to pick who's going. Tara, how do you prioritize your mental health?
Tara: Ooh, okay. I prioritize it a lot. Usually it comes up for me that I need to. Like the call comes because I'm like in anxiety. For me it's anxiety. And I create challenges for myself around getting into a better mental health space.
Rachel: Yes. And I feel like you also have like your hypnotherapist. You also, you work with people to help you to.
Tara: I do, that’s right.
Teri: Rachel, how do you stay focused when you have a lot of negativity around you?
Rachel: Ooh, well, I go for a run and I rage in my head while I'm running. And then I get over it. And then when I come back from the run I'm like, “Oh, I feel better.”
Tara: I love that, that’s good. I’m going to try that.
Teri: Okay, okay.
Rachel: So you can go for a walk. Just I feel physical activity is how I process anger or just emotions that I want to get out.
Teri: That’s what’s up. Teri, so what are your next milestones? I really want to be more healthy. I did a health week the other week, I went to every doctor. Like gynecology, heart, brain, all doctors.
Rachel: Like check the whole thing out.
Teri: So I want to get to a point where they say like good. Right now they were like, nah. So that's my big milestone. Rachel, back to you, when did you get a team?
Rachel: When did I get a team? I started hiring people within, I would say the first year was when I got a VA. So yeah, I was pretty quick about hiring people because I think it's a must. You're going to go so much farther if you have help, especially with the parts that you struggle with.
Teri: That's good. Tara, how do you determine what's really important and needle moving?
Tara: Ooh, okay. So something that's needle moving, so okay, what I do is I have like two or three initiatives and bet, I call them bets. Like two or three bets that I'm making on my business. And so it has to be something that's going to get us significantly closer to the bet.
Tara: So it can't be like a random thing, it has to be connected to the bet.
Rachel: Yes. So if it's not connected to your direct goals, then you say no.
Tara: Yeah, that's right. And I think the direct goal is specific, it's like really clear. Like I have to direct bets in my company right now. One, we want to have our curriculum in schools all over the world. And two, we want to have our new software that we're working on be something that allows more people to create their own apps, right?
Tara: Like those are the bets. That's what we're betting on. That’s what I'm betting on, that’s what the team is betting on. And so what's going to actually move the needle to get to that?
Teri: That's so good.
Rachel: So good.
Teri: That's so good. I'm going to answer this one, but I'm not good at it, so y'all can keep me accountable for it. So this question is what are your best practices around eating, sleeping and exercise?
So according to my doctors, this is what I need to be doing, and this is what I will be doing, keep me accountable. When I first wake up I need to have Pedialyte next to the bed and I actually have to drink the Pedialyte before I get out of bed.
Tara: Okay, okay.
Rachel: To work on electrolytes, hydration.
Teri: Yeah, hydration, I got to drink more water. And then every two hours I need to drink a bottle of water.
Teri: My uncle is going to be so proud of me right now for saying that out loud. He always send me the like Apple app, I mean, the drink water app.
Teri: And then in terms of exercising, the best time to actually burn fat is if you exercise before you eat anything.
Rachel: That’s when I do it.
Teri: So as soon as I get up, if I can go walk or something like that. So that's going to be my goal. Go walk 30 minutes right when I get up so that it'll burn fat. Because after you eat, it'll start burning carbohydrates.
Teri: I'm telling you, like all my friends who talk to me about this are going to be like, “Teri heard us?”
Rachel: Listen, we’re going for a walk tomorrow morning.
Teri: Okay, done.
Tara: How early?
Teri: I know, right?
Rachel: We'll talk about that later.
Teri: My 30 seconds, hose are some of the things that I've heard that I need to do that I'm trying to incorporate.
Rachel: And she's starting as of tomorrow.
Tara: Yeah, beautiful.
Teri: Okay, Tara, what are some strategies to get in front of more people?
Tara: Okay, so it depends on what kind of people you want to get in front of. There's two things though, one, I think that you should just like blast share on whatever social network that you're on, Facebook, Instagram, et cetera, like what you're up to. And get in the rhythm of just like sharing either in a caption or a post.
Tara: For me, I think it sometimes looks a little bit more like I have like a friends and family of my work in the business email list that I have. But it could look like that or it could look like Facebook or whatever. Just like putting yourself out there.
Tara: But I think if you're thinking about a business and getting in front of customers, you have to get in front of the actual potential customer.
Rachel: Right, not just anybody.
Tara: Not just anybody, right. So for example I have lots of folks that want to like white label an app. So like take their logo off and put somebody else's logo on. And let's say that your customers are doctor's offices, right? Going to talk to your mom and your cousin and them about it is not going to help you.
Teri: It ain’t going to help you.
Tara: you all know what I’m talking about. You know exactly what I’m talking about. It’s going to send you on a goose hunt of like some feedback, which is the wrong feedback, so it may need to be exactly those people. And like sometimes even you go on LinkedIn and you search for someone's job title and send some outreach about what you're working on. And you have to get to the right person though.
Tara: But people are all over the internet saying what they do and what they like. And so looking for those things and identifying those work.
Rachel: I agree.
Teri: That is so good.
Rachel: One of the things I always say is just create a list of 100 people that you know and ask them to either become a client if they would fit the profile, or send somebody to you if they know somebody and tell them exactly what you're doing, and who you're looking for, and how you can serve them. And then ask them if they can become a client or share it with at least one person.
When you make that ask, that's how I got my first few clients. And so many of the people that I have actually interviewed on my podcast have told me that's exactly how they got their first few clients. So put yourself out there, announce the business as at least a minimum first step.
Tara: Yeah, your first clients are people you know.
Rachel: Exactly, or know somebody that you know.
Rachel: Somebody else's cousin or, you know, whatever.
Teri: Rachel, while you're talking about this, someone asked like how do you prioritize your goals?
Rachel: How do I prioritize my goals?
Teri: Or maybe even like just how do you organize your priorities might be better.
Rachel: I basically eat and sleep my goals. I'm pretty hungry for my goals to happen so it's not hard for me to go after them because I just, I wake up thinking about it, right? Like I want to make those goals happen. And I just structure my day, right?
I have my work days, I have my days where I'm meeting with the team, I have days where I'm meeting with clients, and then I have days where I'm resting or just taking care of myself. And then I have days where I'm like getting new clients or putting myself out there for different things like recording a podcast or whatever.
So I think you just organize your life, right? Like organize your calendar and just try to stick with it as much as possible. And I know that Bethany is over there, that's my EA, giving me the side eye. But that's my answer and I'm sticking to it.
Teri: She’s like, “Uh-huh, she don’t be prioritizing nothing.”
Rachel: But listen, even part of the system is Bethany, right? Because she will save me from myself, which I'm so grateful because I always think I can do more than I actually have energy for. So she'll be like, “I'm going to say no on your behalf, even though I know you just said to say yes. But I'm going to go ahead and say no because you're just going to make me cancel at the last minute anyway because you're going to be exhausted. So it’s a no, okay?”
So like hire people and empower them to save you from yourself.
Teri: That’s good. That’s good.
Tara: And I think there are seasons where you want like to-do lists and there are seasons where you want to be in flow of what like feels good. And I sometimes have moments where I note that the season is shifting.
Tara: Typically if I'm in like a flow season and I'm starting to feel overwhelmed by like all the stuff I've got to do, it's time to switch over to like, write it out, get the asana board out, or whatever you use. And then there are times where I'm just completely ignoring the to-do list. Like I'm not schedule, stuff is going, and I'm like, oh, that's the time to move back into like flow season.
Rachel: Yes. I totally agree. Like the summer, I don't want to work that hard in the summer. I’ll just be like, it's vacation time. Why isn’t it summer vacation like when we were kids?
Teri: I'm going to give this one to you all to think on while I answer a different one.
Teri: So the one I'm going to give you all to think on is how do you balance your job and getting to launch your business? And then the one that I'm going to answer on here, someone says here, “I'm an inspiring engineer, please, how can I sell my idea to the right people who can invest in it, particularly in a country where my field of work isn't taken seriously?”
And actually, what I want to tell you is take the objection, like you've already put out there that in your country your field is not taken seriously. And that's what you're projecting. So take that objection and figure out how do I overcome this objection? If in my country, things are not taken seriously, then it sounds like you need to go to a different place.
Teri: And now, all of a sudden, that is off the table. Now they're taken seriously. And then the thing is, okay, well, now how do I get people to invest in it? Well, is it investable?
Teri: And are you in front of the right people?
Rachel: And are you investing in it, right? That’s also a part of it. They need to see that you're committed. I am an investor, so I've invested in companies. I know you have, right? You've acquired companies, right?
Rachel: So we've all made investments in other businesses and we're usually investing in like an outcome that we believe can happen, and usually a founder has a lot to do with it. Like do we believe in this founder and what they built or what they are building? And that's key. So you, again, I'm going to go back to you got to sell it.
Tara: Yeah, that’s right.
Teri: So true. And one thing I've been dealing a lot with myself, guys, is I put boundaries on myself that are not there. So for example, like y'all know I went to Maldives recently. I've been having that on my dream and bucket list forever. But I've always had the, not always, but for the last while I've had the money to afford the trip but it just stayed on the list because I didn't do it.
There was no reason, like if you find that there's something that you keep saying like, “Oh, I'm going to do that,” or “I want to do that,” do it. Just stop complaining, just go buy the ticket, just do it. There's no excuse on it.
Rachel: I love this.
Teri: You've said it enough times, do it.
Tara: Enough times.
Rachel: I love that you get in her principal energy. She’s like, “Look, either do it or don’t do it.” Right?
Teri: Stop telling me about it.
Rachel: Either way.
Tara: Yeah, do something.
Rachel: Make a decision.
Teri: I have some friends that are like, dang, if you tell me something, the next time I see you, you can't say the same thing.
Rachel: She will actually be like, “What happened with that?” And I’ll be like, “Well, what happened was…”
Teri: Do it. And then y’all can do the same to me, because there’s some like hiring and stuff I’m supposed to be doing.
Rachel: We going to talk about that. We’re going to talk about that.
Teri: But just do it. Like if there's something on your list and you've said it more than two or three times to yourself, at this point it's time.
Rachel: Yeah, and also too, I get tired of saying to myself, “I'm going to make this happen,” and then not make it happen.
Rachel: You know what I mean? Like, I get tired, I like annoy myself continuing to talk about it and not making action.
Tara Yeah, this is where making it a game for me works.
Rachel: Yes, everything is a game for you.
Tara: well that works for me, so I got to trick myself with whatever works.
Tara: For me, the whole like everything's a video game and I'm going to like do a thing and I get points for it. Because you do, you get like these points where you're like, I'm proud of myself, I feel differently about myself. So I craft it into a challenge.
Teri: That's so good. Well, and that goes to the launch thing. So and then this I think-
Rachel: Well, you gave us a question.
Teri: Yeah, this is the question, how do you balance your job and getting to launch your business?
Tara: Okay, great. So I was working a full-time job at Microsoft when I launched my first company. And at the time I had seen on Twitter that this guy had rented out, he left Union Square Ventures which is a big VC firm, and he had rented out Kickstarter’s old office. And he was starting this side project accelerator program to help people launch their side projects.
And at the time I wasn't really trying to launch a business, I just wanted to launch a thing that I had autonomy over and I was excited about it, right? So I got into this program, but the problem was I was living in Seattle working at Microsoft and the program was in New York. And I just didn't, I hadn't thought it through. I don't know, I didn't think it through, I was just moving with momentum in what excited me.
And my partner at the time was like what is the point of having this cushy tech job if you can't fly to New York every single week to do this program?
Rachel: Wow. You know what that’s called? Effort.
Rachel: Okay, find a way is what that’s called.
Tara: Well it’s effort, and you know how like the airlines have like the credit cards and like when you sign up they give you a bunch of points?
Tara: So I would fly to New York on my points. I would get like an Airbnb, I remember I stayed in like bunk beds, they were bunk beds.
Teri: When I first was traveling, I was traveling and hostels.
Teri: You do what needs to be done.
Rachel: I’ve Stayed in very basic hostels. My husband was mad because he was like, “I used to have a nice life until I got with you.” But don't worry, it's nice again now.
Tara: It is nice.
Teri: It is very nice true. You need to be invited, come join the $100,000 mastermind.
Tara: And then you’ll be here.
Teri: Just to let you know.
Rachel: Then you can hang out here.
Tara: Hang out here, yeah. So I think the question was like, how do you balance, and I don't know if at the time it felt like this peaceful, harmonious balance. It felt like me getting the credit card point numbers right so that I could get my flights together so that I could go learn what I needed to learn.
And I'm so glad I did that because like in the middle of doing that Microsoft laid off 80,000 people and I lost my job in the middle of that.
Teri: But you were already ready.
Tara: But I was already ready.
Rachel: You was already ready.
Tara: I was already making money with the app. So I gave myself a couple months and we ended up getting into 500 Startups, which is a big accelerator. We started having momentum in that way. But it was because it didn't feel like balance, it felt like stretch and effort to not be balanced for a short period of time to figure out how to make it.
Teri: Oh, that was confirmation for somebody.
Teri: Somebody needed to hear like you need to stretch yourself right now, especially if you are in a job that you think may get a layoff during a recession. That's what recession is. The fed chair just said like we got to have more layoffs until this is like rectified.
Teri: So we know more people will get laid off. In this season then, you need to be stretching yourself so that you are ready to do the next thing.
Rachel: Yes, exactly.
Tara: We call it Moonlighting, right?
Tara: And I acknowledge a lot of the students and folks that I work with that are building apps, they’re moonlighting. They're working on their day job during the day and they're working on their app idea in the evening in the moonlight.
Rachel: That's how I started my business. I would get up at five in the morning, work until eight. I would crunch getting ready for work to 30 minutes, I would run because I could walk to work. So I would like, I was always late even though I literally lived five minutes away. And get to work, and then during lunch, I would use that time to work on my business. As soon as I left I would come home work on my business again, and then I'd have like an hour at night to myself.
Teri: Yeah, me too.
Tara: That was not balance.
Rachel: It's not balanced, but when you want to make something happen, you're starting something right? Like to get a bicycle going it's slow in the beginning.
Tara: A little wobbly, a little imbalanced.
Rachel: Exactly. So you got to put more effort in. Then you start to gain momentum and you go faster, right? But in the beginning, you got to put a lot of effort in to get it off the ground.
Teri: And I will say, for those that are traders, I've had to learn how to turn off things in certain seasons.
Teri: If I am launching a business, then I may not trade as much. And there's nothing wrong with it. I think at one point I felt like, well, people are going to say that I'm not a trader if I'm not trading every day. But no, there are seasons.
If you're going really hard on your business, do that and focus on that. Put all your energy towards it. And then there's other times where my business is okay and I could trade more. So it might just be like seasonal versus trying to find balance to do both at the same time.
Rachel: Yes, exactly, right? Like now's not the time to volunteer for the PTA, right? Tell the PTA you're not available right now and you try again later.
Teri: Get you a Bethany to say no.
Teri: Tell her to send that email for you, I'm sorry, Miss PTA president, but we ain't bringing the cookies this time.
Rachel: No bake sale for us.
Tara: So much of entrepreneurship is deciding what you're going to say no to.
Rachel: Yes, absolutely.
Tara: I'm not doing that.
Rachel: Yes, absolutely. Well, y’all.
Teri: Yeah, I think we're good.
Rachel: I think we did that.
Teri: Yay! Thank y’all for coming. We hope you guys enjoyed this.
Rachel: Yes, thank you so much for your time and attention.
Teri: Let us know if you want more of this.
Tara: Yeah, let us know if you’d like us to do more of this, for sure.
Rachel: Awesome. Bye y’all.
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