Afford Anything | Make Smart Choices About Your Money, Time And Productivity

#613: Rachel Rodgers graduated from law school with $330,000 in student loans. Her starting salary? Just $41,000. Most people would have accepted this crushing debt-to-income ratio. They'd slowly chip away at payments for decades. Rodgers had a different plan. She deferred her loans and started her own virtual law practice in 2008 — during the recession, when jobs were scarce and most lawyers were struggling to find work.  Her mom thought she was crazy.  Her first year, she made around $65,000 in gross revenue with only $300 in overhead costs. By year two, she was earning $300,000. The key to her success wasn't cutting expenses or living on rice and beans. Rodgers focused entirely on earning more money.  We talk about the practical steps she took to scale her business.  She waited until hitting $250,000 in annual revenue before bringing on her first full-time employee — an administrative assistant who immediately paid for herself by responding to client inquiries faster than Rodgers could manage alone.