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Hello Seven Podcast

Business Mistakes That Cost You Millions (What to Avoid)

Hello Seven Podcast

Rachel Rodgers

Education, Self-improvement, Careers, Business, Entrepreneurship

4.8614 Ratings

🗓️ 31 March 2026

⏱️ 12 minutes

🧾️ Download transcript

Summary

Have you ever made a money mistake so bad you just had to laugh? In this video, I’m breaking down the 3 most expensive money mistakes entrepreneurs make and the ones that cost me tens of thousands of dollars. This is what actually happens when you: 1. Hire the wrong people 2. Outsource your decision making 3. Don’t trust yourself as the CEO Most entrepreneurs think someone else is going to come in and fix their business... They won’t. You are the one who solves your problems. If you’re ...

Transcript

Click on a timestamp to play from that location

0:00.0

Have you ever made a money mistake so bad you wanted to cry, but instead you just laughed because honestly, what else you're going to do?

0:07.3

In today's episode, I'm spilling the tea on the top three and most expensive money mistakes as an entrepreneur.

0:13.5

I'm talking about the hires I regret, the big bets that flopped, and the times I should have trusted myself, but didn't.

0:19.5

And here's the thing. I lived to tell the tale and you will too. Because mistakes aren't the end of your business. They're part of the tuition you pay to be a CEO. And if you stick with me until the end, I've got a free gift for you. My CEO Money Recovery Checklist. It's seven simple steps to bounce back fast from any financial mess up and turn it into

0:39.0

growth. You're going to want this. So hit that like button, subscribe if you're new, and let's dive

0:43.5

into the money moves and missteps that got me here. So let's normalize screwing up with money

0:48.8

and recovering from it. And let me share you a stat just so you know that it's real. A quick book survey

0:53.3

showed 61% of small business owners have made at least one major financial mistake, but most recover and keep going.

1:00.9

Just know that the mistakes that you make do not have to take you out.

1:03.7

So let's talk about the number one mistake that I see people make.

1:07.1

Hiring outside agencies instead of trusting yourself that is the number one mistake

1:13.0

that I see entrepreneurs make and how do I know entrepreneurs make this mistake because

1:16.7

I've made this mistake I've had big problems in my business that I'm trying to

1:20.5

solve maybe I'm trying to solve a big marketing problem maybe I'm trying to solve

1:23.8

an operations problem in my business so that we can accomplish more with the

1:27.7

team or the systems that I have. Instead of believing that I can solve it, I hire an outside agency.

1:32.6

And I've hired an outside agency in the past that has worked out well. They come in, they help

1:36.8

me solve this problem. Most of the time, most of us are hiring agencies and we're outsourcing all

1:43.4

the decision making. We're outsourcing

1:45.1

all the problem solving to them. And it usually doesn't work out. Okay. In my experience,

1:49.9

I've hired so many marketing agencies, so many different types of agencies over the years. And I'm

1:53.9

talking tens of thousands of dollars spent with nothing. I mean 0.0 to show for it. And so if you're thinking, oh, I'm just going to hire

...

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