Mission Driven Business

Brian chats with Erika Rodriguez, founder and CEO of Nadi Marketing and co-founder of Tidal Pages. Erika specializes in partnership marketing for sustainable and purpose-driven businesses. In this episode, she shares how being laid off led her to entrepreneurship, the power of niching down, and how authentic partnerships can amplify your impact. Erika also details why email should be a top marketing priority and how joy, connection, and community have shaped her businesses. Episode Highlights Mission-driven businesses prioritize sustainability. Erika defines a mission-driven business as one that prioritizes sustainability throughout the entire product lifecycle -- from who makes the products to how they're disposed of. “They don't create the product just to make profits,” she said. “They actually think about the whole lifecycle of their product and about more of the people in the planet that they serve.” Niching down makes marketing easier. When Erika started Nadi Marketing in 2020, she offered a full suite of marketing services: websites, blog posts, social media, and events. But after deciding to follow what brings her joy, she niched down to specializing in partnership marketing for sustainable businesses. She's now seen as an expert in her field and the work itself has become a lot easier for her. “It made me target my marketing more, and it's putting me as the expert,” she said. “The client work has been so much easier because I enjoy that work.” Partnership marketing allows for mutual growth. Erika defines partnership marketing as collaborating with another business to create a marketing campaign, product, bundle, or other shared initiative. The goal is to build relationships that benefit both parties and align with shared values. “If we can find businesses the right partners, then they can make partnerships specifically for impact,” she said. “We can do so much more together.” Build your community. Building a business is not easy, which is why Erika hopes that all entrepreneurs have a community to support them during tough times. During the pandemic, Erika built her social media community by organically connecting with people on Instagram, which turned into IRL relationships. She encouraged other business owners to lean on the partners they have in their communities. “Start with the connections and partners that you have,” she said. “Everyone has a network already, but maybe you're not leveraging it.” Resources + Links “Start with Why” by Simon Sinek Erika Rodriguez: LinkedIn Nadi Marketing: Website, LinkedIn, Instagram, Facebook Tidal Pages: Website, LinkedIn, Instagram, Facebook Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and Certified Financial Planner® who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian chats with Masami Sato, founder and CEO of B1G1 (Buy1GIVE1), a Certified B Corporation that empowers businesses to make giving an inherent part of every business transaction. As an experienced social entrepreneur and speaker, Masami champions the "Power of Small" -- the belief that even the smallest acts of giving, when done consistently and collectively, can create meaningful change. In this episode, Masami shares how her entrepreneurial spirit drove her to create B1G1 and how staying rooted in her mission helped her build a business that supports more than 450 high-impact projects across 50 countries. Episode Highlights Mission-driven businesses keep showing up for their purpose. Masami believes that every founder can start a business with an idea to solve a particular challenge or address an opportunity. However, mission-driven businesses stay committed to their original purpose over time. “Mission-driven businesses continue to show up and make decisions based on that original mission, rather than getting sidetracked by all other things,” Masami said. A strong mission can't be replaced. Today's entrepreneurs have a unique opportunity to lead with their mission, according to Masami, since it's one part of the business that can't be replicated or automated by AI. The mission is also what attracts aligned customers, team members, and partners to the company. “Mission is the part that cannot be replaced by other things,” Masami said. “That's where the greatest opportunity lies.” Start small and build a consistent impact. Masami's mission for B1G1 actually started as a question: What if every time business is done, something great happens to create a better world collectively? As the owner of a food company at the time, Masami's answer was to donate one meal for every meal she sold. That small act grew into a much larger business idea and led Masami to create a platform of impact-driven business entrepreneurs who integrate impact and kindness into their everyday business actions. “We realized that there is opportunity for other businesses like us,” Masami said. “Over the last nearly 18 years, businesses working with us have created more than 365 million impacts in the world.” Letting go is different than giving up. Masami shared her powerful story of resilience, including starting a business while raising a newborn, navigating financial hardship, and even giving birth to her second child in her commercial kitchen sink. Her turning point came when she chose to let go of her growing food business in order to fully commit to B1G1. “Letting go and giving up are different things,” she said. “I decided to sell our business and put everything into this idea to start the B1G1 enterprise.” Resources + Links Ashlee Sang: Website, LinkedIn, X B1G1:  Website, Instagram, Facebook, LinkedIn, X, YouTube Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes About Brian and the Mission Driven Business Podcast  Brian Thompson, JD/CFP, is a tax attorney and Certified Financial Planner® who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian chats with Ashlee Sang, a values-aligned brand messaging strategist and consultant who equips visionaries to clarify and amplify their message. Drawing on her background in anthropology, Ashlee brings a values-centered approach to brand development, content creation, and marketing strategy. In this episode, she details common challenges faced by values-driven founders, shares her six pillars of successful brand messaging, and gives a few quick tips to get your brand's story out of your head and into the world. Episode Highlights Mission-driven businesses are “why”-driven businesses. Ashlee defines a mission-driven business as one deeply rooted in its reason for being, also known as its “why.” “A mission-driven business is a group of people, or a solopreneur, who have a really, really clear reason for being -- a really clear why -- that is driving them toward every single decision,” Ashlee said. If the mission is the “why” of the business, then Ashlee's sweet spot is working with the “how” of the business: its values. “Values-driven is the operating system; it's the mechanism,” Ashlee said. “If I can always point back to core values, then I always know it's in alignment.” Businesses evolve through experimentation. Ashlee started her entrepreneurial career as a freelancer on the side while working in nonprofits and NGOs. Through years of experimentation, she discovered and refined her niche of values-aligned messaging and now encourages her entrepreneur clients to embrace their own trials. “No matter how well prepared you are, no matter how much research you've done, no matter how firm your plan is, there are so many other factors at play,” she said. “One of my favorite things about business is we sort of get paid to experiment.” Clear messaging builds clarity and confidence. After more than six years in the business, Ashlee has noticed her clients commonly struggle with feeling too scattered to find the common threads in their work or being too close to their work to articulate it clearly. Clear brand messaging can overcome these challenges because it creates a cohesive experience for clients, partners, and team members. “We can all write an email,” Ashlee said. “We can all slap together something on a website. But are we really going in with intention, thinking about those tiny details and the big picture? … The idea is a lot less important than the experience we're creating for people.” Follow the six pillars for a successful brand messaging strategy. Ashlee defines brand messaging strategy as how a business wants to be known, and she's narrowed a successful brand messaging strategy to six core components: Brand statement Mission statement Values Voice Audience Key differentiators Together, these elements serve as the root system that informs all marketing, operations, and external communications for a business. “I like to think of a brand as a tree, so the messaging strategy is the root system holding everything else up,” she said. “Brand messaging strategy is the focus and intention of the brand you are building.” Resources + Links Ashlee Sang: Website, Instagram, LinkedIn, Facebook Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and Certified Financial Planner® who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

As an entrepreneur, you know that every dollar counts, so today we're taking a deep dive into a topic that can save business owners thousands of dollars: deductible business expenses. In this episode, we'll cover what makes an expense deductible, the savings that come with deductions, unexpected deductions, and the importance of bookkeeping. By the end of the episode, you'll have a clear picture of how to make the most of your expenses and keep your money in your business. Episode Highlights Deductible expenses must be ordinary and necessary. Deductions are powerful. Every dollar you deduct reduces your taxable income, directly lowering the amount of taxes you owe. However, in order to deduct a business expense, two key rules must be satisfied: the expense must be ordinary and necessary. To be ordinary, the expense must be common and accepted in your industry, such as a yoga mat for a yoga instructor. To be necessary, the expense must be helpful and appropriate for your business operations. Before you write off something, ask yourself whether a business like yours typically needs this type of expense and does it serve a legitimate business function? If the answer is yes, you may have a deduction on your hands. Don't forget unexpected deductions. While rent and office supplies may come to mind as deductible business expenses, consider whether these unexpected events apply to you: Pet expenses -- If a dog protects your office or warehouse, the dog's food, training, and vet bills may be deductible. Coaching -- Hiring a business coach, taking leadership training, and even going to therapy for stress management related to business all might qualify as expenses needed to run and lead a company. Your home office -- If you have a dedicated space in your home exclusively used for business, you can write off some of your rent, utilities, and internet costs. Marketing and promotions -- Hosting an industry event, running a giveaway, collaborating with influencers, and paying for digital ads all count as deductible expenses as long as they are directly tied to promoting your business. Work-related attire -- Buying branded uniforms or specialized attire for your business are legitimate business expenses. Business retreats -- If you take your team on a business retreat to strategize and improve company culture, that expense could be deductible. Make sure you document the business purpose with an agenda and good notes. Good bookkeeping is just as important as knowing the rules. Without solid record keeping, you might miss valuable deductions or struggle to justify an expense in the event of an audit. Here are some tips to keep your books in order: Separate personal and business finances -- Keeping separate personal and business bank accounts and credit cards makes tracking deductible business expenses much more manageable.  Use accounting software -- Accounting software, such as Quickbooks or Wave, can help automate tracking, helping to ensure nothing gets overlooked when tax season rolls around. Save your receipts -- The IRS requires proof of deductions, so keep digital or physical copies of receipts and invoices. Work with a professional -- A professional bookkeeper or accountant can help you keep your financial records accurate and compliant. Resources + Links Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and Certified Financial Planner® who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

It's tax season crunch time, so we are resharing a timely episode debunking the 1120-S tax return. In this episode, Brian will walk you through the S-Corporation income tax return to help you better understand what you're filing and hopefully catch mistakes before it's too late. He provides a section-by-section analysis of Form 1120-S and highlights key areas that business owners and tax professionals make mistakes. Episode Highlights Part 1: Heading, Income, Deductions, Tax and Payments Most of this information is drawn from your business's Profit and Loss Statement. Here's a breakdown of what's on the first page: Calendar year: The very top of the form asks for the calendar year. If the corporation has a calendar year-end, leave this blank. If a fiscal year or short year put in the appropriate dates. Address: Underneath the calendar year, the form asks for a name and address. Use the name set forth in the charter or other legal documents, such as your Employer Identification Number (EIN) letter. Item A: Located to the left of the address, Item A asks for your S election effective date. You should have a letter from the IRS (CP 261) with your S-Corp starting date. This date should stay the same every year. Item B: Your business activity code. This code shows the IRS exactly what you do. Item C: Item C only applies if you have assets of $10 million or more. Most of the time, Item C will not be checked. Item D: Put your EIN in Item D. Make sure to verify it's correct before you file your form. Item E: Your date of incorporation should match the articles of incorporation. This date may or may not be the same date as your S-election. Like the S-election date, the date of incorporation won't change. Item F: Total assets at the end of the year. Item G: If the corporation is electing to be an S-Corp beginning with the current filing tax year, check the appropriate box. If the S-Corp did not already file the S-Election, attach Form 2553 with the return. Item H: These boxes should be self-explanatory. Check the boxes that apply. Item I: Enter the number of shareholders in the firm (e.g. yourself and your partners). Item J: Most of the time, Item J will not be checked. If you believe that one of the Item J items applies, follow up with your tax accountant. Income: Report gross revenue your business has earned for the year and any additional income or interest income that you may have incurred. Only report trade or business income. Do not list rental income, portfolio income, or tax exempt income (those go on your Schedule K). Expenses: Report all deductions on your Profit and Loss statement. Pay special attention to the following lines: Line 7: Compensation of officers should have something on it. S-Corporations must pay shareholder/employee reasonable compensation for services rendered, and failing to put reasonable compensation could lead to an IRS audit. Also included on this line are fringe benefits, including employer contributions to health plans and group term life insurance, for shareholders/employees owning more than 2% of the corporation stock. If your S-Corp has total receipts of $500,000 or more, you'll need to attach Form 1125-E to explain what was paid to each officer. Line 8: Salary and wages paid to employees (other than officers) of the corporation. Line 17: An S-Corporation can deduct contributions made for its employees under a qualified pension, profit sharing, annuity, SEP plan, Simple plan, or any other retirement deferred compensation plan. This includes shareholders/employees owning more than 2% of the corporation stock. Line 18: Employee fringe benefits provided to officers and employees owning less than 2% go on this line, such as health insurance, disability insurance, and educational assistance. Line 19: Line 19 includes any other deductions. There should be an attached statement, and it should match your profit and loss. The numbers should be close to your Profit and Loss statement. Taxes and payments: In general, an S-Corporation does not pay taxes at the corporate level, so this section will be blank. Signature: It's important to sign the return only after verifying all of the information, including the following sections. Part 2: Schedule B This section is mostly self-explanatory questions. Make sure to read and understand each question. Below are two lines to pay special attention to: Box 1: This easy-to-miss box can change your entire return if you're not careful, since it's where you select whether you're a cash or accrual basis taxpayer. Once you choose an accounting method, you generally cannot change without approval from the IRS. Box 2: Here is where you explain what you do. Part B is an either/or question, so state whether you sell products or services. Also, if you hire contractors, say yes to question 14 -- and hopefully you got out your 1099 forms by January 31. Part 3: Schedules K and K-1 Schedule K reports the pro rata share items in total for the Corporation. Schedule K-1, which you receive in your personal name, reports the percentage of pro rata share items allocable to each shareholder.  Lines 1-17 on Schedule K correspond to Boxes 1-17 on Schedule K-1. Most items on Schedules K and K-1 are self-explanatory and come from other parts of the return. Part 4: Schedule L  This is where many taxpayers make a mistake. Schedule L matches your business' balance sheet and should agree with your books and records. If it doesn't, find out why before you file. The first two columns match what your accounts were at the beginning of the year and should match what the accounts were at the end of last year. If this is your first year filing an 1120-S return, these two columns should be blank. The second two columns are for what the accounts had on December 31 of the previous year and will carry over to next year's return. Some of the most common assets on Schedule L are: Line 1: Write the amount of cash in your bank account on the last day of the year. Line 7: Loans to shareholders are loans from the corporation to the shareholder. Keep in mind, these loans need to be documented and should have a repayment schedule and interest rate. Line 10a: Buildings and other depreciable assets are fixed assets that the business owns that have been depreciated, such as real estate, furniture, or machinery  Some of the most common liabilities on Schedule L are: Line 18: Other current liabilities are expenses incurred at the end of the year but not paid until January of the next year. Current expenses often include wages, state taxes, federal taxes, and payroll taxes payable at the end of the year.  Line 19: Loans from shareholders are loans from the shareholder to the corporation. As with the other loans, these loans should be documented and include a repayment schedule and interest rate. Line 22: The par value or stated value of the capital stock issued by the corporation. This amount stays the same each year unless the S-Corporation issues additional stock after incorporation. The corporate charter or minutes should identify the stock. Line 23: Enter the beginning and ending balances of additional paid-in capital. This includes the amount contributed to the S-Corp by shareholders for which the corporation did not issue stock or amounts contributed in excess of the stated or par value. Line 24: This section is especially tricky. You should base the retained earnings on the S-Corporation's books and records. Most of the time, retained earnings should match the Accumulated Adjustments Account (AAA), other adjustments account (OAA), and previously taxed income (PTI) balances on Schedule M-2. Line 27: This line represents the total liability and shareholders equity. This line must match line 15. If you answered “yes” to question 11 on Schedule B that your total receipts were less than $250,000 and total assets were less than $250,000, then you aren't required to file a Schedule L. However, it may be beneficial to file Schedule L anyway because it will be crucial for future balance sheets. Part 5: Schedules M-1 and M-2 Schedule M-1 helps explain discrepancies between the books and your tax return. This section should explain any differences you notice.  Some common items reported on Schedule M-2 include: Meal expenses (100% on books, 50% on taxes) Entertainment (100% on books, 0% on taxes) Life insurance premium expense (100% on books, 0% on taxes) Certain fines and penalties (100% on books, 0% on taxes) Political contributions (100% on books, 0% on taxes) Book depreciation expense (100% on books, 0% on taxes) Tax depreciation expense (%0 on books, 100% on taxes) Tax-exempt income (100% on books, %0 on taxes)  Schedule M-2 tracks the income and losses and separately states items that the shareholder should report on their tax return. Resources + Links  Bank Reconciliation 101 Lessons from the 1099-NEC deadline Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Ready to end the year with a gift to your future self? In this special episode, Brian guides you through a six-step process to close out 2024 and set yourself up for success in 2025. You'll tidy your finances, get a jump start on thinking about taxes, evaluate your business performance, and set strategic goals.  Your Year-End Business Review Checklist Step 1: Close Out Your Financials Closing out your financials may sound dry, but it's imperative to get right. Review your books -- Review your profit and loss for the year for any discrepancies, outstanding invoices, or payments that need to be paid. Make sure you have the correct categories for your transactions to save you a headache when you prepare next year's tax return. Reconcile your accounts -- Every month, but especially at the end of the year, you should reconcile your financial accounts, including bank accounts, credit cards, and loans, to reveal unaccounted expenses or hidden fees. Analyze your cash flow -- Review your cash flow to see what you owe and who owes you. You can also get a clear picture of whether you can defer income to next year or incur more expenses this year to save on taxes. Review your payroll -- Ensure wags, taxes, and benefits are accurate and that Bonuses are accounted for with proper tax withholding. Step 2: Evaluate Your Tax Position Once your financials are in place, it's time to shift to taxes. Consider year-end tax deductions -- Incur expenses for purchases like office supplies, software, professional services, and equipment you will have in the coming year. Review your retirement contributions  -- Don't miss your opportunity to make employee contributions to your Solo 401(k) before the December 31 deadline. Plan for next year's taxes -- Project what your tax liability might look like next year, plan for potential quarterly tax payments, and evaluate whether you might qualify for tax credits or deductions. Also, start gathering important information for tax forms, such as 1099 NECs and W2s. Step 3: Reflect On Business Performance Once the numbers are in order, it's time to review the past year of business performance and make meaningful adjustments. Review key metrics -- Identify the key metrics for your business, determine whether or not you hit them, and analyze why or why not. Analyze client data  -- Come up with your ideal client profile but remember that high paying isn't the same as high value. Employee performance reviews -- If you have a team, conduct an annual performance review to acknowledge achievements, identify areas for improvement, and set clear expectations for next year. Step 4: Refine Your Vision, Mission, and Values Let's dig deeper into your mission, vision, and values, which are at the heart of mission-driven businesses. Reassess your mission and vision -- Ask whether your mission or vision has evolved or shifted and update your mission and vision statements if necessary. Clarify your core values  -- Just like with your mission and vision, reflect on your core values and update them if necessary. Step 5: Set Strategic Goals For 2025 After reflecting on the past, let's look forward by setting achievable, flexible goals. Set SMART goals -- Aim to set goals that are specific, measurable, achievable, relevant, and time-bound. Break down goals into actionable steps -- Know the next, right step to make your goals less overwhelming and chart a clear path forward. Build in flexibility - The market, economy, and client needs are always evolving. Build checkpoints into your plan and make course corrections as needed. Step 6: Tidy Organizational Processes Don't overlook the operational side of your business to save yourself headaches and hours in 2025. Audit your systems and tools -- Review the software, apps, and systems you are using, take note of the tools you aren't using, and automate repetitive tasks. Organize digital files -- Organize digital files in clearly labeled folders to easily find essential documents. Review contracts and legal documents - Check that your contracts and legal documents with vendors, clients, and employees are up-to-date and compliant. Resources + Links Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and Certified Financial Planner® who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian Thompson chats with Davey Shlasko, founder and CEO of Think Again Training and Consulting, a company that helps align business actions and values. With more than 20 years of experience in adult learning and organizational development, Davey specializes in driving systematic change with a focus on equity and inclusion. Davey shares practical tools for aligning internal practices with external values, discusses strategies for fostering accountability and transparency, and offers hope for navigating uncertainty in today's climate. Episode Highlights Mission-driven businesses put purpose before profit. Rather than benefiting the owners or leaders of a company, Davey says a mission-driven business benefits the broader world or a specific community. That means an organization's mission must guide decision-making, even when it involves trade-offs. “Mission has to sometimes come before profit,” Davey said. “Usually having a positive purpose can align very well with making a profit, but sometimes there are trade offs.” Align your company's internal and external values. Davey emphasized that a mission-driven business's values should be reflected externally and internally. Through Think Again Training and Consulting, Davey works with mission-driven organizations to ensure their internal culture, operations, and systems align with the values they promote externally. “It's not always as obvious how those same values might apply to your own operations or internal culture, even if it's clear how they should apply to the programs or services you provide,” Davey said. Be accountable to your stakeholders, including your employees. It's essential to identify who your organization is accountable to and ensure those stakeholders have a voice. If leaders of a mission-driven business don't hold the organization accountable to its values and core stakeholders, you can have mission drift. “Part of my responsibility is to hold us accountable to our values that we've agreed on,” Davey said. “No matter what we hope our positive impact on the world will be, it's likely that the greater impact we'll have is on the people we're working most closely with: each other.” Transparency is non-negotiable. Part of the work of Think Again Training and Consulting is providing companies transparency, which Davey defines as opportunities for informed input. Being transparent balances mindfulness of individuals' privacy with honesty about feedback the organization needs to hear. “In smaller organizations, anonymity might not be possible, so we have a conservation about what piece of information we could share that would not make you vulnerable,” Davey said. Inclusiveness shouldn't be overwhelming. While it's great when leaders of a company want to make sure all voices are heard, sometimes they can take their intentions too far by trying to get a consensus for every decision. Asking employees to give too much input in the decision-making process can be overwhelming and ineffective “You need to design a decision-making process where employees can give input without overburdening,” Davey said. “I want our decision making to be inclusive, but I also want it to work.” Resources + Links Davey Shlasko: LinkedIn Think Again Training & Consulting: Website, Facebook, Instagram Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes About Brian and the Mission Driven Business Podcast  Brian Thompson, JD/CFP, is a tax attorney and Certified Financial Planner® who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian Thompson chats with Conrad Ruiz, the founder and CEO of Well Aware, a company dedicated to helping business owners reclaim their time. With a background in biomedical engineering and consulting, Conrad blends technical insight with an entrepreneurial spirit to help business owners simplify complex operations and master time management. He shares his personal journey into entrepreneurship, which started with a medical crisis, and offers practical advice on creating efficient systems and finding balance in business. Episode Highlights Mission-driven businesses start with why. For Conrad, a mission-driven business emphasizes the "why" behind the work. Once a business has a clear sense of its “why,” it can use its resources — time, money, and systems — toward fulfilling that mission. “Being a mission-driven business is recognizing wholeheartedly why you're doing what you're doing and what that impact is for,” Conrad said. Your why is your compass. Conrad explained that having a clear “why” is like having a compass to direct a business's decisions and actions. By staying focused on the mission, entrepreneurs can avoid distractions and stay aligned on their goals. “The why is the compass north,” Conrad said. “If you find yourself going in a million different directions, you're ultimately going nowhere.” Buy back your time. Conrad's business, Well Aware, helps very busy people buy back their time. He encouraged business owners to invest in affordable solutions, such as virtual assistants or scalable systems, to free up time. “We decide with them how they want to approach this mercantile equation of money versus time,” Conrad said. “Let's go ahead and make the equations easy.” Audit your time in 3 key areas. One of Conrad's key recommendations is to perform a time audit to identify where your time is truly spent. He suggests looking at three key initiatives: time spent marketing, time spent selling, and time spent delivering services. Once you see those three, then you can look at how finance (money) and administration (time) unpin them. “I love auditing on the basis of time,” Conrad said. “There's a three-legged stool of marketing, sales, and service delivery, and from there, the underpinnings are finance and administration.” Resources + Links Conrad Ruiz: LinkedIn Well Aware: Website, LinkedIn  Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes About Brian and the Mission Driven Business Podcast  Brian Thompson, JD/CFP, is a tax attorney and Certified Financial Planner® who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian Thompson chats with Lauren Tilden, host of the Making Good podcast and a marketing coach dedicated to helping creative small business owners who want to get out of their own way and start making an impact. After 8 years in corporate marketing, Lauren left her corporate career and began her winding journey to owning and supporting small businesses. She offers insights into defining one's ideal customer, creating goal-oriented marketing plans, and staying consistent with your message. Episode Highlights Mission-driven businesses are motivated by more than money. Growing up, Lauren felt she had to choose between making a living and doing meaningful work. But once she entered the small business world, she realized she could achieve both purpose and profit by being intentional and putting her values first. “I always sort of felt like I had to choose between making money ... and doing something I cared about," Lauren said. “It wasn't really until I got into the small business space that I realized you can do both at the same time.” Get clear on your marketing goals. Impactful marketing starts with a well-defined goal. Lauren advised small business owners to pinpoint what they need from their marketing efforts, such as increasing brand awareness, generating sales, or expanding a specific client base. Knowing your goal can help you create a campaign that helps you achieve it. “The first place that most people overlook is to get really, really clear on what your goal is,” Lauren said. “Marketing can do so many different things for us. If I didn't know my goal, I could end up spending my time all wrong.” Don't let a niche box you in. Instead of solely focusing on servicing a niche, Lauren encouraged entrepreneurs to understand their ideal customer's motivations, challenges, and values. By getting clear on these psychological details, business owners can create messaging that resonates with target customers on a deeper level. “What unites the people that buy from me and that are part of my community are their psychographics and what they care about,” Lauren said. “I know my ideal customer super well.” Design a marketing plan that meets your time requirements. Small business owners are busy, which is why it's especially important to realistically assess the time you have available to dedicate to marketing. Lauren advised entrepreneurs to create achievable marketing plans they can follow consistently, even if it means starting slow and with just one or two platforms. “When you set yourself up for a plan you can't actually stick to given your bandwidth, that is a recipe … for feeling bad about yourself and your ability to follow through,” Lauren said. “There is no upside to biting off more than you can chew, so create a marketing plan based on the time you have available each week.” Resources + Links Making Good Podcast with Lauren Tilden Lauren Tilden: Website, Instagram, Pinterest, LinkedIn Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and Certified Financial Planner® who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian Thompson chats with Adam Oh, founder of Adam Aligned, a business focused on helping people heal from emotional hardship, find direction, and realize their full potential. On the episode, Adam shares his journey from music artist and social media influencer to self-help entrepreneur. He emphasizes the importance of research and trial and error. He also discusses the significance of overcoming limiting beliefs and provides some actional tools to identify and address them. Episode Highlights Mission-driven businesses operate with core values. Adam defined a mission-driven business as one that operates from the founder's core values and strives to make a positive change in the world. For many founders, including Adam, the business is deeply personal and an extension of their purpose. “In many cases, like for myself, the reason for starting the business is deeply personal,” Adam said. “For many people, the business itself is synonymous with their purpose.” You can be self-taught. Adam's path toward financial independence started when he went viral as a music artist on Vine in high school and again on TikTok in college. After college graduation, he had to choose between moving to Los Angeles and pursuing a music career or moving to Utah to explore entrepreneurship and life closer to his partner. He chose Utah and spent years deep in self-help research. “If I want to get into this industry and make my voice heard and make an impact on people, I have to be about what I talk about,” Adam said. There's just a plethora of knowledge out there and, from a young age, the music success taught me that you absolutely can be self-taught.” Don't be limited by limiting beliefs. Limiting beliefs can often prevent entrepreneurs from achieving their full potential. Adam's “laundry list” of limiting beliefs he had to address when he started his business included fear of failure, fear of success, and money fears. “I learned that there is a very, very strong link between your thoughts and your beliefs, especially your beliefs about yourself and what you are capable of,” Adam said. “One of the things I found from researching people who have succeeded in making their impact is that there is a very very strong link between your set of beliefs and your ability to go out in the world and accomplish that thing you want to achieve.” Build, measure, learn, repeat. Adam admitted that his new business hasn't had the level of success he had hoped for when he first launched. While he's still aiming to grow his social media audience as a way to earn income, like he did for his music career, he's also set up a donation page, sold digital guides and workbooks, and explored the idea of coaching. “I launched my first product, and no, it didn't hit my revenue goals,” Adam said. “It's recognizing that the first thing not being a huge success doesn't mean that it was a huge failure. It just means that you did the thing and now you have the opportunity to learn from it and try again and probably get better results next time. I'm willing to fail 100 times to make one work.” Resources + Links Adam's Ideal Self Guide Adam Aligned: Website, Instagram, TikTok, YouTube, Pinterest, X, Facebook, LinkedIn Adam Aligned Podcast: Spotify, Apple Music, Amazon Music Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes About Brian and the Mission Driven Business Podcast  Brian Thompson, JD/CFP, is a tax attorney and Certified Financial Planner® who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian Thompson chats with nurse-turned-entrepreneur, Jumer Adalin. As a social media expert, Jumer helps fellow nurse entrepreneurs grow their businesses through social media to create both impact and income. On the episode, Jumer shares his journey from ICU nurse to social media superstar. He also offers valuable tips for Instagram marketing and creating content to grow and nurture your own online audience. Episode Highlights Mission-driven businesses focus on solving problems. As a nurse-by-trade, Jumer likens a mission-driven business to a healthcare team whose common goal is to bring about positive patient outcomes. Similarly, a mission-driven business focuses on solving problems for a specific group of people. In Jumer's case, that group of people is nurses using social media to grow a business. “My mission in my business is to grow their online business without sacrificing their sanity, without burning out because I have been there,” Jumer said on the episode. Don't hide behind the current trend. With the rise of content created by artificial intelligence (AI) algorithms, it's more important than ever to show up as your authentic self online. Jumer encouraged entrepreneurs to share their values, opinions, and personal stories to build genuine connections with the audience. “The value of a personal brand has never been higher,” Jumer said. “Authentic content creation comes down to showing your values and telling your audience what you stand for, what you stand against, and that you have an opinion in the online space.” Build your audience with a free but valuable resource. Offering a free, high-quality resource can provide immediate value to potential clients or customers, while also building your credibility with your audience, according to Jumer. He designed his free resource, the Instagram audit guide, to be an easily implementable checklist with quick wins to showcase his expertise and teaching style. “Creating a really valuable education resource has been pivotal in growing my email list and really showcasing my experience,” he said. Consistently communicate with your audience. Jumer emphasized the importance of consistently communicating with your audience on your platform of choice. While social media is a free, powerful tool to communicate with your audience, Jumer advised entrepreneurs to consider building their own email lists to reach their followers. Unlike social media, an email list is a direct line to your audience. “You don't own Instagram, but you do own your email list,” Jumer said. “Think about the power of directly getting into a person's inbox. That builds the connection right away, and you don't have any other competition.” Resources + Links 28 Instant Content Remedies Jumer Adalin: Website, Instagram Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian Thompson chats with Queer Money podcast hosts and Debt Free Guys founders David and John Auten-Schneider. David and John have more than a decade of experience helping the queer community thrive financially through their podcast, website, and emails. On the episode, they discuss the importance of being intentional with how you choose to grow and engage with your audience. They also open up about some setbacks they've experienced as entrepreneurs and tips they've learned in their decade-long entrepreneurial journey. Episode Highlights Mission-driven businesses have a purpose beyond profit. David and John both define a mission-driven business as one that is focused on a greater purpose than just making a profit. Whether it's using the income from the business to contribute to a cause or running the business itself to create an impact, mission-driven entrepreneurs know they are putting in the work for a reason higher than just financial success. “What is the motivation behind getting up and putting in the 16-hour days or 60-hour weeks?” David asked. “Everyone should have the right to be able to achieve financial success and be able to have fulfillment with that, but when you have another mission that is contributing to the reason that you get up and do what you do, that is what makes your business a mission-driven business.” For David and John, the mission of Queer Money is to try and improve the financial security of the LGBTQ+ community. “The stronger we are as individuals, including our financial strength, the stronger we are as a community, and the more time, money, and resources we have to be able to protect and fight for our rights,” John said. Build your audience before your product. Before David and John started their Debt Free Guys brand, they wanted to write a book but were told by agents that they first needed to build an audience. They launched the Debt Free Guys blog as a way to share smart debt management advice while also growing an audience. In doing so, they realized the need for LGBTQ+ voices in the personal finance community, which in turn led to the Queer Money podcast. “‘Build it, and they will come' only works in the movies,” David said. “You will not survive if you create a product and you don't have a built-in audience who has a desire and need for it.” Don't forget to create an email list. In the fast-paced world of modern entrepreneurship, it's easy to get distracted by new opportunities or social media trends as a way to grow a business. Unfortunately, success on most platforms is determined by the current algorithm and chasing success on every platform is a losing game. “There are so many shiny disco balls to go at,” David said. “Find out what you can do to stay in the center of your world, or your business is going to look like a scribbly mess because you keep chasing after everybody else's center of the world instead of your own.” David and John recommend focusing on one or two platforms that connect with your mission and your audience. They also tout building a good, old-fashioned email list as a consistent and reliable way to reach your audience. “What has consistently been a great money driver for most folks over the greatest duration has been growing your email list,” John added. “I would suggest that anybody who's going to go down the virtual business path focus as much energy and attention on growing your email list. That's your list. You can take that list anywhere.” Resources + Links Queer Money Podcast Episode 11: 4 Keys to Winning the Midlife Career Change Queer Money Podcast Episode 31: 3 Surprises, 3 Ah-has, and an Awesome Money Quote Queer Money Podcast: Website, Instagram, Apple Podcasts, Spotify, YouTube Debt Free Guys: Website, Instagram, Facebook, LinkedIn, X, Pinterest Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes About Brian and the Mission Driven Business Podcast  Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian Thompson chats with human rights advocate and Brave Space Alliance CEO Channyn Lynne Parker. Channyn is a public speaker whose accolades include the inaugural Trans100 award, Henrietta Lacks award, and Equality Illinois Freedom Award. As CEO of Brave Space Alliance, Channyn shepherds the first Black-led, trans-led TLGBQ+ center on the south side of Chicago. On the episode, Channyn shares her journey to becoming the CEO of Brave Space Alliance and the significance of finding alignment in life. She also reveals why the nursery rhyme “Row, Row, Row  Your Boat” is deeper than you might think. Episode Highlights Mission-driven businesses are laser-focused. According to Channyn, a mission-driven business is focused on what it does best. For Brave Space Alliance, that means meeting the needs of Black TLGBQ+ individuals through the four pillars of dignity: health, housing, food, and identity. “A mission-driven business is one that is laser-focused on what we do well: to provide our constituents the greatest impact in the area of their interests and needs,” Channyn said. “Above all, we give people a safe space to be in -- or a brave space to be in, if you will.” Brave discomfort to live your purpose. When Channyn was tasked with the role of CEO of Brave Space Alliance, she initially felt like the lead of the 1980s film Gloria in which a cantankerous woman gets stuck with a young kid and has to unexpectedly take on the role of the mother. While she described the transition to CEO as “jolting” and “averse,” she has grown to love the job and the responsibility. “I love comfort, and I believe that humans are comfort-seeking machines,” Channyn said. “None of us want to be jarred out of our comfort zones, but the reality is that unless we seek or welcome challenges, we will stagnate, we will atrophy, and we will not live out the thing that we are meant to contribute to the world.” Profit can include time, talent, and treasure.  Running a business, even a nonprofit like Brave Space Alliance, requires money. But Channyn reminded listeners that profit can come in non-monetary forms, too. “When I think about the intangibles of profit, it is your stakeholder satisfaction and community impact,” Channyn said. “But also I think about the gifts of time, talent, and treasure, so all of your stakeholders who believe in your mission feel they're able to contribute to the sustainability of the mission.”  Live life gently and authentically.  Channyn believes there is a gap in the world that every one of us has been brought here to fill if we can become acutely and unapologetically aware of who we are and what it is we want to be. And if you don't believe her, just listen to the song “Row, Row, Row Your Boat.”  “The deepest song ever is ‘Row, Row, Row Your Boat,'” Channyn said. “Rowing is living, right? The stream is life, and gently means you're not fighting against who you are. We're meant to live this vessel gently as we flow down the stream of life.”  Resources + Links Brave Space Alliance: Website, Instagram, Facebook, X, TikTok Channyn Lynne Parker: LinkedIn Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes About Brian and the Mission Driven Business Podcast  Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian Thompson chats with Shadé Akande, founder and CEO of ONE X LEAGUE, a private social league for Black and Afro-Latina women executives and founders. With more than 18 years of global HR experience at companies like Google and Walmart, Shadé shares her journey of creating a community during that pandemic that blossomed into ONE X LEAGUE. Tune in to hear how a series of brunches sparked the idea for a business all about building relationships and how the transformative power of feedback made ONE X LEAGUE the social network it is today. Episode Highlights  Mission-driven businesses prioritize purpose above all else. Shadé Akande describes a mission-driven business as one that prioritizes its purpose and values over everything else. The goal is to create a company that produces a long-term positive impact. "A mission-driven business prioritizes its purpose and values over everything else,” Shadé said on the episode. “Its goal is to create impact and positive change."  Community is crucial for overcoming challenges. When people could start gathering together again after the pandemic lockdowns, Shadé recognized the need for a space where Black and Afro-Latina women could share their experiences and support each other. She started organizing brunches across the country to foster a sense of belonging and camaraderie. Since then, ONE X LEAGUE has organized numerous events to help members build meaningful connections and navigate workplace challenges. "We would share what we're doing,” Shadé said. “We'd support each other and share examples of things we could take away and use in our workplace." Kindness is key to building a strong community. Shadé stressed the importance of kindness as a core value for ONE X LEAGUE members. To maintain the community's quality and engagement, membership renewals are not automatic. Members must be invited to renew, helping to maintain a supportive and safe environment for all members. "Our one value for members is kindness,” she said. “We take that really seriously as we invite people to become members of ONE X LEAGUE, so much so that even renewals are not automatic. You have to be invited to renew." Feedback and continuous improvement are essential for growth. Regular feedback from members is vital for the continuous improvement of ONE X LEAGUE. Shadé conducts anonymous surveys to gather insights and ensure that the community's offerings remain relevant and impactful. This feedback loop helps in making necessary adjustments and keeps the community aligned with its mission and values. "We do regular anonymous surveys, " she said. For instance, in a recent survey, Shadé asked members whether they agreed that they were having great experiences. “All of those who took the survey, 100%, agreed strongly.” Resources + Links ONE X LEAGUE: Website, Instagram, LinkedIn, YouTube Shadé Akande: LinkedIn Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes About Brian and the Mission Driven Business Podcast  Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Instagram is more than just a social media platform. It has evolved into a visual storytelling hub where businesses can connect deeply with their audience among the more than 1 billion monthly active users on the platform. On this special episode, Brian delves into the intricacies of marketing on Instagram. Whether you're just starting out looking to enhance your online presence, this episode will equip you with the knowledge and strategies to leverage Instagram effectively. Episode Highlights Outline your engagement strategy. Instagram provides a unique platform for you to showcase your brand's story through compelling visuals, videos, and stories, helping you craft narratives that resonate with your audience and strengthen your brand. You can also amplify your impact by utilizing Instagram's community-building engagement tools, such as polls, Q&A sessions, and live videos.  Before you post on Instagram, you should know what you are trying to accomplish. Consider what you are trying to achieve with your marketing, who you are trying to reach, and whether you enjoy using the platform.  Create high-quality content. Once you know your “why” for marketing on Instagram, it's time to post. Your content strategy on Instagram should be diverse and purposeful, reflecting your brand's mission, vision, and values. Post content that educates, informs, inspires, or entertains through a variety of post types, such as user-generated content, behind-the-scenes content, promotions, educational posts, seasonal posts, events, testimonials, and news. Here are some specifics: Optimize your profile: Your profile picture should be a clear, high-quality image representing your brand. Your bio should be concise and informative, including keywords, a call to action, and a link to your website or latest content. Add visual appeal: Experiment with high-quality photos, engaging videos, informative infographics, and visually appealing product shots. Develop a consistent theme and color palette that aligns with your brand's aesthetic. Utilize captions and hashtags: Write engaging and informative captions to connect with the audience. Use relevant and trending hashtags to reach a wider audience. Engage your audience. Building meaningful connections with your audience is crucial for sustained growth and advocacy. Here are some ways to do that:  Respond to your audience: Promptly engage with comments, direct messages, and mentions to foster a sense of community and customer care. Partner with influencers: Collaborate with influencers or brand advocates whose values align with yours to expand your reach and credibility. Encourage user-generated content: Showcase your authenticity and social proof by encouraging customers to share their experiences with your products and services. Also, know when and how often to post. For stories, post daily. For feed posts and Reels, aim to post three to five times per week. For IGTV, post one to two times per week. Tailor your posting schedule to your specific audience by using Instagram Insights, A/B testing, and considering time zones, especially if you have a global following.  Resources + Links  Episode 79: Niching Down with Hugo E. Gomez Episode 23: How to Get Different with Mike Michalowicz Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian chats with tech trailblazer and Sama CEO Wendy Gonzalez. Sama is a mission-driven Certified B Corp that seeks to raise the standards for both machine learning and global working conditions. The company's innovative approach to ethically sourcing and training tech talent has lifted more than 68,000 people out of poverty since 2008. On the episode, Wendy dives deep into Sama's unique for-profit business structure, including reserving a Board of Directors seat for its non-profit on its non-profit roots. She also touts the importance of conviction and self-awareness when building and running a business. Episode Highlights Mission-driven businesses can have more than one mission. Mission-driven businesses can have more than one mission, according to Wendy. For instance, Sama has a “triple bottom line” of bringing long-term value to people living in poverty, to the planet, and to the bottom line. “We were really founded on this premise that talent is distributed equally but opportunity is not,” she said. “We started with the mission first, and the core mission is what we then built a business problem to solve for around.” Hold earnings calls and learnings calls. You've probably heard of a company's earnings calls when the executives share updates about the firm's financial metrics. Sama applies the same concept to its mission by hosting “learning calls,” in which the company provides updates on its impact metrics. “The idea from the very beginning is you have to track with rigor what our impact is,” Wendy said. “It's no different than how you would track your financials.” If you're a big company, consider B Corp Certification. Sama is a Certified B Corp, meaning it meets verified, high standards of social and environmental performance, has made a legal commitment to accountability, and transparently shares information. Wendy said the company pursued B Corp status once it transitioned from a non-profit financial structure to a for-profit structure because the B Corp Certification is the best and most recognized accreditation standard for impact-driven companies. “We were big enough that we thought B Corp Certification is going to be important for us, so that nobody believes that our transition in financing means that anything has changed,” she said. One downside to B Corp Certification is that it requires a lot of effort and expenses. If you're a small company, you may not be able to afford the resources needed to comply with the reporting requirements, but if you're an established impact-driven company, Wendy recommended looking into B Corp Certification.  “If you're a customer looking for a recognized seal of approval, that's recognizable,” she said. Fire yourself annually. About once per year, Wendy does a mental exercise in which she fires herself as CEO and evaluates whether she'd rehire herself for the job. The exercise is an opportunity to reflect on the kind of leader her company needs and also where her energy and convictions lie. “If you're the CEO, you've got to be not only the CEO your company needs today, but the one your company needs tomorrow,” Wendy said. Resources + Links Wendy Gonzales: LinkedIn Sama: Website, Instagram, Facebook, LinkedIn, X, YouTube B Corp Certification Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian chats with entrepreneur and Hispanic marketing leader Hugo E. Gomez. As the founder of HispanicMarketing.com, Hugo helps U.S. businesses connect with the Hispanic market. On the episode, Hugo discusses the importance of niching down for marketing and creating personal branding on social media. He also shares the lessons learned on his journey from an employee to self-employed, including embracing uncertainty and trusting himself to figure things out. Episode Highlights Mission-driven businesses seek win-wins. HispanicMarketing.com is composed of four sub-brands -- Abogados NOW, Doctores NOW, Gene NOW, and  SpanishLeads.ai -- that all share a two-fold mission. The first is to help U.S.-based businesses connect with the U.S. Hispanic market, and the second is to ensure the U.S. Hispanic market has access to financial, healthcare, and legal resources. “It's a win-win for our mission because we're giving our clients something new, and at the same time providing a lot of goodwill to the community,” Hugo said. Niching down is the path of least resistance. In marketing and entrepreneurship, niching down your market and services is a powerful tool for attracting customers. If you already understand your customers' industries and challenges, it becomes much easier to get sales acceleration. “I'd seen so many great use cases of niching down that I thought that's probably the best way to build a company,” Hugo said. “If you tell someone in a sales funnel that you know where they come from and their challenges, it's so much easier to have a call about the next steps.” Start your business while you have another job. Successful entrepreneurship requires smart risk management strategies, which is why Hugo advocates for aspiring business owners to start a new company while they still have a job. That's the approach he followed when exploring whether HispanicMarketing.com could be a full-time business. “You can have a job and your own business. That's probably the safest and most respectful path for your own wellbeing,” Hugo said. “Building something and proving it out at the smallest level is a great proof of concept to see if you're really interested in running a business.” Don't forget marketing. When it comes to modern marketing techniques, Hugo is bullish on social videos, such as Instagram and Facebook Reels, because the social media companies do the work of matching your content to people who are interested in watching. He also recommends publicizing employees of companies rather than company pages. “Most people right now don't want to follow a company page,” he said. They want to follow people who work inside the company. The ones with the personal video brands are going to do the best.” Resources + Links Hugo Gomez: LinkedIn HispanicMarketing.com Abogados NOW: Website, Instagram, Facebook, LinkedIn, YouTube, TikTok Doctores NOW: Website, Instagram, Facebook Gente NOW: Website, Instagram, Facebook, LinkedIn, X SpanishLeads.ai Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian chats with entrepreneur and mobile app pioneer John Driscoll. As the co-founder and CEO of Naked Development, John and his team are rewriting the rules of mobile app development, raising the bar for innovation and creativity. John shares invaluable insights on the courage, patience, and perseverance needed to navigate the unpredictable to succeed in business. He also debunks the myth of overnight success. Episode Highlights Mission-driven businesses pick their fight. John believes you shouldn't start a business unless you have a mission because having a true mission is like picking a fight. To be successful, companies should have a point of view that influences how they see the world and, as a result, how they connect with their target audience. “Your company, whatever it's doing, is connected to that point of view,” John said. “You have to point whatever you're doing at a group of people, and by definition if you're pointing at a group, you're not pointing at the rest of them. It's exclusion on purpose.” Have the courage to niche yourself out. John often uses the expression “niche yourself out” as a way to convey the importance of having an authentic point of view that connects with your target audience. Niching yourself out as a company takes real courage because, by definition, not everyone is going to agree with your decisions. “Whether it's calling your company Naked, like I did, or something else, you are going to have people who disagree,” John said. “That might even be your family -- it was for me -- and you have to just be okay with it. You have to expect it.” Fire bullets before cannonballs. Many entrepreneurs struggle with when to move out of the research phase and into getting experience. After all, being an entrepreneur is all about managing risk, and while risk can be transferred, it cannot be eliminated, so it's best to get real-world experience as quickly as you can. “A lot of people think they can curb their risk by doing more research upfront,” John said. “I'm not anti-research, but I am anti-waiting. You don't get the rewards without the risk.” One strategy to prioritize gaining real-world experience is to fire bullets before cannonballs, an expression that John borrowed from John Collins. The phrase encapsulates trying something small first before you go all in on an idea. “I've blown it many times, where I've gone in and done the whole thing,” John said. “When you do that, and you get it wrong, whatever mistake you had made is compounded. Normally, if something works small, it'll work big.” Real success requires patience. A very common mistake that John sees among young founders is impatience. He says many young entrepreneurs have an idea in their head of what success looks like, which is often overnight success. However, he believes overnight success is a myth. “Instagram is probably one of the biggest overnight successes you could mention,” John said. “The founders started Instagram, and a year or two later had a billion dollar exit. That's incredible, intense growth, but people forget to mention the app, Burbn, that the founders had started before Instagram and completely trashed. Even that example of overnight success still took time.” Resources + Links “Fire Bullets, Then Cannonballs” by Jim Collins The TB12 Method: How to Achieve a Lifetime of Sustained Peak Performance by Tom Brady Buy Back Your Time: Get Unstuck, Reclaim Your Freedom, and Build Your Empire by Dan Martell John Driscoll: Website, LinkedIn Naked Development: Website, Instagram, LinkedIn, YouTube Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

On this special episode, Brian dives into the all-important mid-year business review. Whether you're navigating the early stages of entrepreneurship or deep into running a medium-sized business, the mid-year business review is the perfect opportunity to take stock of your progress so you can stay on track toward your goals. Learn why the mid-year review is essential, what key areas to focus on, and three practical steps to conduct a thorough assessment. Episode Highlights 1. Revisit your mission, vision, and values. Your mission statement is the heartbeat of your business, articulating its core purpose for existing. To evaluate your mission, ask yourself the following questions: Is your mission statement authentic? Does it reflect the values and aspirations that drive your business forward? Is your mission statement still relevant in the current business, landscape, and societal context? Is your mission statement clear and concise, communicating your business's purpose in a compelling and easily understandable manner? Does your mission statement align with the needs and aspirations of your target audience? Your vision statement paints a compelling picture of where you aspire to be and serves as a beacon of inspiration and guidance for your business journey. To evaluate your vision, ask yourself the following questions: Is your vision bold and ambitious enough to inspire action and innovation? Is your vision adaptable to changing circumstances and evolving dynamics? Does your vision align with your mission and core values? Is it in harmony with the overarching purpose and principles of your business identity and direction? Does your vision inspire excitement, enthusiasm, and commitment among your team members and stakeholders? Your core values are the ethical principles and beliefs that guide your behavior and decision-making as a business owner. To evaluate your values, ask yourself the following questions: Are your core values rooted in honesty, transparency, and integrity? Do your core values promote accountability and responsibility among your team members? Are your core values inclusive and respectful of diversity? Do your core values empower and inspire your team members to unleash their full potential? 2. Conduct a comprehensive financial review. Your business's financial health is not just about the bottom line -- it's a reflection of your ability to create value, manage resources efficiently, and sustain growth for the long term. By conducting a mid-year review of your financial performance, you can gain insights into the health of the business, identify areas for improvement, and make informed decisions. To conduct a mid-year financial review, take the following steps: Analyze your revenue streams - Analyzing your revenue streams allows you to identify growth opportunities, optimize your product or service offerings, and prioritize resource allocation effectively. Review your expenses - Conducting a thorough review of your expenses allows you to identify inefficiencies, streamline processes, and optimize cost structures. Examine your cash flow - Managing cash flow effectively is essential for ensuring liquidity, stability, and resilience in the face of economic uncertainty. 3. Evaluate operations. Optimizing workflow, effectively leveraging technology, and nurturing high-performing teams are essential for business innovation and growth. Conducting a mid-year review of your critical systems allows you to identify bottlenecks, inefficiencies, and opportunities to improve in the second half of the year. Below are three key areas to review when assessing your operations: Assess your workflow - Identify bottlenecks, streamline processes, leverage technology, and continuously improve to minimize waste and deliver value to your customers. Review your technology stack - Evaluate current tools, identify new technologies, ensure integration and compatibility with existing systems, and provide training and support to improve collaboration and unlock new opportunities for innovation and growth. Evaluate team performance - Assess the alignment of your team members with business goals, review individuals' skills and competencies, review resource and support needs, and foster a culture of collaboration and communication to create a culture of excellence. Resources + Links Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian chats with financial planner-turned-business coach Elizabeth Jetton, M.Ed., CFP. Elizabeth has made igniting passion a throughline of her career, evolving from the first female stockbroker in Atlanta to founding a financial planning firm and now working as a business coach and teacher. On the episode, Elizabeth gets to the heart of what makes a mission-driven business successful. She dives deep into how to identify your unique gifts and utilize them to create a business that serves your needs and makes an impact. Episode Highlights Mission-driven businesses reflect their owners' golden threads. Mission-driven businesses reflect what their owners deeply care about and the difference they want to make in the world. When that sense of purpose is then combined with the owners' unique gifts and talents, Elizabeth says the result is “golden threads.” “Golden threads are those sort of innate gifts we bring to our lives that we can bring to our work to make a difference,” Elizabeth said. “A mission-driven business is that beautiful intersection of what we are capable of doing, what we are skilled and competent at doing, and what we have the gifts to do.” Think about what you don't delegate.  If you're stuck on finding your golden threads, Elizabeth recommends thinking about what you're drawn to. It can also be helpful to reflect on the tasks that you don't like to delegate. “That's the passion piece,” she said. “Sometimes we try to delegate something when in fact that's the very thing we actually love to do easily, and then we're frustrated because the people we delegate it to just don't get it or because nobody's going to get it like we do.” Say no -- especially when you're just starting. As a business owner, it's essential to escape the scarcity mentality that can lead you to take on work that doesn't reflect your golden threads. Elizabeth emphasized the need to be selective in the projects you take on and to say no to things that don't align with your mission. While many business owners struggle with saying no, she says the problem is especially prominent among novice business owners. “When we're novices, we don't have the experience, so we don't have the conviction and confidence,” she said. “When we're in that state, that's when we have a tendency to say yes too much because we think we have something to prove.”  Perfection is the enemy of good enough. Elizabeth is a big believer in prototyping. Especially when you're just starting a business, you can't get too attached to what you think the business will be because it will change. “Don't wait until you think you've got it perfect,” she said. “You're going to learn more from having a client and seeing what worked and what didn't than anything else. Perfection is the enemy of good enough." Resources + Links The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses by Eric Reis Follow Elizabeth Jetton Online: LinkedIn Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian chats with marketing expert Cara Bedford. As the founder and CEO of Infinite Marketing, Cara leverages the global talent economy to drive impactful campaigns for mid-to-large-sized businesses, startups, and Fortune 500 companies. On the episode, Cara shares why having a clear vision for a business can create an authentic, cohesive brand narrative. She also stresses the importance of clear communication, effective delegation, and asking the right questions. Episode Highlights Mission-driven businesses are vision-driven businesses. When Cara thinks about mission-driven businesses, she can't help but associate the word mission with the day-to-day tactics of running a business. But what inspires her is the vision that a mission-driven business works to make a reality. “When I think about why I get out of bed everyday, vision really resonates with me,” she said. “Mission is tactical, whereas vision is the future, the dream, the destination.” At Infinite Marketing, Cara's vision is to create a future where work is a source of joy and growth for everyone. She aspires to run a company that moves beyond work-life balance into work-life freedom. “From the growth of our digital nomad culture that we're seeing in the creative class, people are seeking not just employment but a journey of self-discovery and personal growth and purpose,” she said. “I want a world where work is a source of pride and fulfillment and gratification, not simply a means to an end.” Create a brand guide. Cara is a big believer in the power of brand guides, which can help inform the branding decisions for a business and identify gaps in business processes. The brand guides Infinite Marketing builds for clients are living documents that span 34 to 112 pages and detail the rules and processes of going to market. “This booklet guides all of your branding decisions,” Cara explained. “People don't understand how impactful that is to a business.” Don't be afraid to hire outside help. Entrepreneurs can often benefit from outside expertise to help increase their chances of success. For instance, when working to redesign her logo Cara learned to trust the designer's process, which resulted in a design more beautiful than she could have imagined. She passes on that same advice to companies thinking about hiring a marketer. Once a business reaches a certain size, hiring someone to run marketing and sales efforts will further that business growth. For instance, a new business may not need a detailed brand guide, but Cara says investing in a brand guide is imperative for businesses with revenue in the $2 million - $5 million range. “It's a living document that grows with you,” she said. “You add pages to it as you grow, and you build frameworks as you grow.” Resources + Links The Big Leap: Conquer Your Hidden Fear and Take Life to the Next Level by Gay Hendricks Cara Bedford: LinkedIn Infinite Marketing: Website, LinkedIn  Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian chats with diversity, equity, and inclusion trailblazer Ken Janssens. During his 25-year-long career at JPMorgan Chase, Ken co-founded and chaired the company's LGBTQ+ Executive Council, championing diversity and inclusivity at the highest levels. He's also the former Board Chair for leading LGBTQ+ Workplace Inclusion non-profit Out & Equal. On the episode, Ken discusses his new venture, Windō, which aims to make corporate sustainability transparent and to connect young people with employers that share their values. He also shares his journey from activist leader to visionary entrepreneur and touts why establishing a clear mission and vision makes financial sense for companies. Episode Highlights Mission-driven businesses place purpose at their core. Ken defines a mission-driven business as one that puts purpose at its core. He also pointed out that purpose is especially important to Gen Z employees, who are the first generation to place purpose over pay when finding an employer. “Whilst a lot of companies have adopted purpose statements, there are many that still haven't,” Ken said. “Purpose can rally an entire organization around something that is usually quite simple but very powerful.” Keep it simple. Ken co-founded Windō to connect young talent with value-aligned employers. Having such a simple mission statement has made it easy for him to recall and ensure his daily decisions are grounded in the company's purpose. “Our mission just rolls off the tongue, but obviously, you don't just come up with that willy nilly,” he said. “You really think about it, but then it's very clear. It grounds us and makes it easy to talk about what we're about in one simple sentence.” Use data to drive diversity. While Windō's data focuses on large companies, Ken says that small business owners can still take inspiration from some of the top performers. For instance, a company of any size can implement self-ID, which allows employees to disclose their demographic information to break down large data sets by diverse groups. Companies can then use the self-ID data to measure how employee satisfaction varies among different groups of people and, ideally, use the resulting awareness to improve year over year. “I think every company is aiming for belonging, and that's difficult to measure,“ Ken said. “This is a great way of doing that. You ask employees different kinds of questions and get the results by a diverse group, and you don't guard the results as a secret when there's work to do.” Transparency builds trust. The ultimate goal of sustainability reports is to build trust, according to Ken. However, you can't have trust without transparency, commitment, and accountability. He also emphasized that potential employees know that increasing workplace diversity can be challenging and that progress isn't always linear.   “Gen Z is okay with the numbers being low, but they want to see progress,” Ken said. “Moving the dial is hard, and sometimes you have a dip. It's okay if they're still in the grand scheme making progress.” Resources + Links The Big Leap: Conquer Your Hidden Fear and Take Life to the Next Level by Gay Hendricks The Activist Leader: A New Mindset for Doing Business by Lucy Parker and Jon Miller Ken Janssens: LinkedIn Windō: Website, LinkedIn Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian chats with Amanda Wilson, the co-founder of #open, a dating app for ethically non-monogamous relationships. On the episode, Amanda opens up about the fear she faced pivoting from running political campaigns to launching a sex-positive tech business with her business and life partner. She also shares essential strategies and tactics for navigating the challenges of entrepreneurship and how she utilizes AI to fuel growth and innovation at #open. Episode Highlights Mission-driven businesses balance making money with benefiting society. Amanda defines a mission-driven business as one that doesn't just focus on finances as the number one goal. As part of making #open a mission-driven business, Amanda is setting up the company to become a​​ Certified B Corporation, which requires balancing making money with the responsibility to benefit society. “Our mission is to create safer spaces for marginalized and at-risk communities to form authentic connections,” Amanda said. “That's exceptionally important to us because we are a dating app for people that are in ethically non-monogamous relationships, which is still a hard road for people who are doing that.” Keep your customers safe. One of the goals of #open is to build a safe space for the sex-positive community. To do that, the company makes it a point to listen to its user base, including by talking to customers through the #open support team and by reading app store reviews. Amanda also says the company prioritizes safety through data privacy. “Your data is just an extension of you, so your data needs to be treated as respectfully as we would treat another person standing right here in front of us,” Amanda said. “#Open can always strive to be a safer place.” Use AI to improve your human touch. Amanda sees the use of artificial intelligence (AI) as a way to improve the personal touch of businesses and marketing strategies. For instance, #open reviews every picture that goes inside its app, and AI can help flag images that may break the company's content policies. Also, Amanda uses an AI transcription tool to review her podcast interviews and find points she can improve upon for next time. “AI definitely helps us to be able to have that personal touch,” she said. “Building our community is one of the strategies and tactics we use.” Hire your potential customers. #Open emphasizes hiring people within the community they're serving, so that the people creating the tools can better understand the dynamics around the software's real-world use. “We try and hire as many women and other marginalized people as we can,” Amanda said. “My one request is if we can get more women in tech, life would be so much better for so many people.” Resources + Links B Corp Certification Otter.AI Amanda Wilson: LinkedIn #open: Website, Instagram, Facebook, X, Tumblr, YouTube Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian chats with serial entrepreneur and visionary leader Amanda Bauer-Frisch. As the CEO of Small Legacies, Amanda creates a way to give thoughtful, high-quality learning tools that enhance a child's development. She also oversees several other small, legacy-driven businesses under the Enduring Legacy brand. On the episode, Amanda opens up about how becoming a young widow and being open to the right, new opportunities shaped her entrepreneurial journey. She also provides a behind-the-scenes look at how she's purchased several existing brands and shares tips for finding and acquiring businesses. Episode Highlights Mission-driven businesses exist for a reason deeper than profit. Amanda defines a mission-driven business as one that exists for a reason deeper than profit. When she started Small Legacies, she created a hand-made wooden bank to teach her oldest son the basic financial literacy skills of saving, spending, and giving. But she also had a deeper meaning in mind. “My first husband passed away in 2017 from a genetic heart condition at 30 years old,” she said. “So making this bank for my oldest was like helping to carry on my husband's legacy and memory.” Elevate and delegate. When Amanda started Small Legacies, she built the company's signature wooden bank boxes in her garage. Eventually, Small Legacies received so many orders that she needed to find a wood toy manufacturer to meet the demand, which in turn made it possible to acquire and take over the operations of another family-owned woodworking business. She wouldn't have been able to grow if she hadn't practiced the principle of “delegate and elevate.” “That's still a daily part of my journey -- trying to figure out where I can shine and what things bring me the most joy but also yield the most results for the business,” Amanda said. “And then how can I find the right people to support me in the business on the things that, frankly, bring me no joy or I'm not good at them.” Hire and fire based on your values. For Amanda, one of the hardest parts of running a mission-driven small business is knowing that she is responsible for the well-being of the employees on her payroll. Finding the right teammates that fit her company's mission, vision, and values is already challenging, but gets even more complex when acquiring employees of another company. Amanda experienced this challenge firsthand last year when an existing employee of a company she had acquired refused to comply with Enduring Legacy's policy of being open and accepting to any employee. Although the employee had a lot of knowledge about the newly acquired brand and processes, Amanda decided to end the company's relationship with him because he wouldn't be a good fit for the company's values. Even though the decision required Amanda to cash in her 401(k) to buy new equipment, she knew it was the right thing to do. “It was an incredibly easy decision,” she said. “It was a difficult day, but at the same time, I went to bed and slept great that night because it was the right thing to do.” Resources + Links What the Heck is EOS? A Complete Guide for Employees in Companies Running on EOS by Gino Wickman and Tom Bouwer Amanda Bauer-Frisch: LinkedIn Small Legacies: Website, Instagram, Facebook, Pinterest, TikTok Navy Paddles: Website, Instagram, Facebook, LinkedIn Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X (formerly known as Twitter), Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian chats with Brian Moak, an entrepreneur, consultant, coach, and motivational speaker focused on service-based businesses and team engagement. As the owner and CEO of HEART Certified Auto Care, Brian used empathy to transform his family's business into an industry-leading auto shop. He also owns one of the largest Shack Shine franchises in North America and is a partner in a digital marketing firm. On the episode, Brian Moak details his rollercoaster entrepreneurial journey, riding the lows of losing $1.5 million in one year to growing his business to earn nearly $15 million in revenue. He also lists his Four Point Plan to help any business thrive and shares the most critical question to ask to change your business's trajectory.  Episode Highlights Mission-driven businesses are aligned. When defining a mission-driven business, Brian takes a term from the auto shop world: alignment. At a mission-driven business, all parts of the operation are aligned toward the end goal or outcome to be achieved. “Every person in the company should be facing the same way,” he said. “That has to come from the top. The top has to give that vision and sell that vision to the team, so they can feel engaged and make it happen.” Create a 4-point plan. Through the years, Brian has learned that for a plan to work it needs to be based on strategy, not just an idea. He's since created and implemented a 4-point plan to help his company reach its goals.  Step 1: Build rapport Rapport means understanding the connection between the owner and the employees as well as understanding the needs that your employees have. To build rapport, Brian makes it a point to talk with every one of his 75 employees every week. “It's not like I do a review,” Brian said. “It's a casual stroll through the business to say hello and find out how their family is doing."  Step 2: Define “it” To know where you want to go, you first have to define “it.” Rather than speaking in generalities, get clear on your vision, mission, and short- and long-term goals. Also, be specific when you tell employees what you need from them to achieve those goals.  Step 3: Share why Not only is it important to clearly detail the plan, but it's also critical to share why the broader goal matters. “Sometimes it's as simple as we have to do this so we can ensure job security,” Brian said. “Sometimes it's as big as we have to do this, so you can get a huge raise.”  Step 4: Ask for commitment A plan can't succeed without the commitment of everyone to follow the process and achieve the outcome. At HEART Certified Auto Care, Brian makes sure everyone is aligned on the plan and then asks for a verbal commitment. “If we don't have their commitment, typically there's a breakdown in communication somewhere,” Brian said. “Either their values don't align, the ‘what' wasn't clear enough, or the ‘why' wasn't compelling enough.” Live up to your standards. As a gay man in a blue-collar industry, Brian felt he had to prove himself. Early in his career, he tended to overcompensate, which created a toxic work culture. The result was that he almost lost his business. “I asked everyone else to succeed in an area that I was failing, and that's the worst kind of leader,” he said. “I have really high standards, and if I was going to have those high standards, I better live up to them myself.” After personal therapy and a forced business rebrand, Brian committed to putting heart at the center of his business and leading with empathy instead of tyranny. It didn't take long for the business to start to grow. “All of a sudden, people wanted my help,” he said. “We went from losing a million and a half dollars in one year to we're going to do just shy of 15 million bucks this year.” Resources + Links Brian Moak: Website, Instagram, Facebook, LinkedIn, X HEART Certified Auto Care: Website Shack Shine: Website, Instagram, Facebook, LinkedIn Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X (formerly known as Twitter), Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

On this special episode, Brian dives deep into the art of crafting your business's mission, vision, and value statements. These principles are the roadmap to success, and Brian gives a blueprint for creating powerful mission, vision, and values statements that shape the foundation of a successful company. This process is a fundamental topic for any budding entrepreneur or business owner.  Episode Highlights How to write an effective mission statement The mission statement is the heart of any business, encapsulating the “why” behind your company's existence. To be effective, a mission statement must be clear, concise, and informative. It should also encapsulate your business's identity. Below are three helpful questions to ask yourself when creating a mission statement: What is our purpose? Who do we serve? What impact do we want to make? How to write an inspirational vision statement A good vision statement is aspirational. At its best, the vision statement inspires not just the company's founder and employees but everyone associated with a business. Below are two helpful questions to ask yourself when creating a vision statement: What problem are you solving? What would your company look like 10 years from now if all your goals were met? How to write an authentic value statement Value statements are memorable, actionable, and timeliness principles that guide a company's decision-making and culture. As the backbone of an organization, value statements are not just words on a page but the core beliefs that the company would be willing to go out of business to defend. Resources + Links The Mission Driven Business Podcast Episode 69: Building A Business For Financial Independence with LaSean Smith Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Online: Instagram, Facebook, LinkedIn, X (formerly known as Twitter), Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian chats with LaSean Smith, a software developer and business creator on a mission to help businesses and business owners succeed. LaSean spent more than a decade as a software executive at Amazon and Microsoft, where he uncovered patterns to use process as a tool to win in business more often. He now uses those insights to help entrepreneurs launch and sustain bootstrapped businesses.  On the episode, LaSean digs deep into what it means to have a values-based business and why owning a business is the most predictable way to achieve financial independence. He also outlines the three-step process that can help any business serving a healthy market to reach $2 million in revenue in five years. Episode Highlights Mission-driven businesses are values-based businesses. LaSean believes that values are the foundation of a successful business. Mission-driven businesses don't just identify their values, but they also live and breathe them even when times get tough.  “Increasingly, customers are seeking out companies that stand for something,” LaSean said. “If you really want to be a values-driven business, you have to be willing to go out of business to protect those values.” Move fast or rescope. How fast you iterate is requisite for building a business, according to LaSean. While big businesses move in months and medium-sized businesses move in weeks, a budding entrepreneur needs to move in a matter of hours. If you can't break the process down and move that quickly, rescope and reconsider how you're tackling your problems. “You have to move that fast because you're trying to compound faster than anyone else,” LaSean said. “Your doubling rate is critical when you're starting a business.” Find your audience first. Rather than starting a business by building a product, LaSean first recommends focusing on your audience. By talking to 100 potential customers upfront, you can gain valuable insights from the people who will ultimately buy your product or service. “A market requires that you have an audience of people who have a shared problem that is urgent, that is painful and reoccurring, and they have the willingness to find the means to financially pay to solve that problem,” he said. Audit your life's minutes. For more than two years, LaSean has journaled his life through a calendar. Three times per day, he inputs what he's done so far that day into his digital calendar as an exercise to be more intentional with his time. He challenges others to do the same exercise for 30 days. “Challenge yourself for 30 days to journal and see how you are spending your time,” he said. “Audit the books of your life minutes and see if there's a disconnect between where you say you want to go and how you're actually spending those minutes.” Resources + Links Values-Based Business Design: Modern Product Development for High-Growth Companies The Four Burners Theory: The Downside of Work-Life Balance by James Clear “Fortunes require leverage. Business leverage comes from capital, people, and products with no marginal cost of replication (code and media).” -- Naval Ravikant (@naval) Louder Than Words by Todd Henry The Life Map: The Predictable Path To Financial Independence Follow LaSean Smith: Website, Instagram, LinkedIn, X (formerly known as Twitter)  Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Online: Instagram, Facebook, LinkedIn, X (formerly known as Twitter), Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

It's hard to believe that 2023 is almost over. Before the New Year, it's time to reflect on the past year and get ready for the next one. On this special episode, Brian lists off 10 business and 10 personal tasks that you should check off your list to end 2023 on the right note and start 2024 with a clean slate. Episode Highlights 10 End-Of-Year Business Action Items 1. Review your goals How did you do this year? What were you proud to accomplish? Anything you wish you could have done better? The end of the year is a great time to review the goals you made at the beginning of the year and set new ones for 2024. 2. Update your cash flow If you use Profit First, look at each bucket's allocations. If a bucket looks too full or scarce, update your percentages accordingly. Remember: Do not make adjustments of more than 3%, which can put you in a bind later. 3. Review your profit & loss At this point in the year, you should have a good sense of your business's gross income, which makes it an ideal time to review your profit & loss statement. Hopefully, it was a banner year for you! 4. Find your tax return There's nothing like some downtime during the holidays to organize and prepare for tax season. Take some time to find a return to help with some of the next tasks on this list. 5. Max out your Solo 401(k) or SEP IRA If you have a little extra profit this year, retirement accounts are a great way to shelter income. If you have a Solo 401(k), you can contribute $22,500 as an employee in 2023. Additionally, if you are age 50 or older, you can contribute $7,500 in employee catch-up contributions and up to $66,000 in employer contributions. If you have a SEP IRA, you can contribute up to 25% of your adjusted net earnings or $66,000 in 2023, whichever is less.  6. Defer income and incur expenses It's an excellent time to defer income until 2024 and incur expenses you know you'll have at the beginning of the year while it's still 2023. However, remember two things before you take this approach: The business expense must be ordinary and necessary, meaning it's an expense that a business like yours would incur. You don't save money on an expense you wouldn't otherwise buy. 7. Consider “out-of-the-box” expenses When thinking about expenses, consider some that may be “out-of-the-box,” such as employee cell phone reimbursement, educational assistance, or dependent care assistance. Expenses can also include up to $25 per person gifts for clients or holiday parties and some forms of holiday travel if they include business reasons. 8. Update your asset list Did you buy new assets during the year that will affect your tax return? It's important to have an accurate list of assets associated with your business for tax purposes. Also, figure out what equipment you no longer use in the business and consider what equipment you can acquire if you're trying to reduce your bottom line. 9. Review your business structure Evaluate your business structure and the qualified business income deduction for any changes that you need to make, such as setting up a Solo 401(k) by the deadline of December 31. 10. Reflect before 2024 How do you feel about your business? Is it going in the direction you want? How can you bring more intention to what you're doing? Reflecting on the past year and creating some attention for the new year is essential. 10 End-of-Year Personal Action Items 1. Review your goals Just like you did with your business, review your goals for 2023 and take stock of where you succeeded and where you fell short. Either way, you'll have some good information about the changes you can make in 2024. 2. Update your budget Your money and your business are tools to live the life that you want, and the end of the year gives you a solid endpoint to assess whether you matched the goals you set at the outset of 2023. If you didn't set financial goals for 2023, the start of the new year is a great time to use a budget that finally works for you. 3. Create a holiday bucket Consider how much you want to spend this holiday season, which may look a lot different than in past years. Create a separate bucket for holiday spending, then stop spending when that money is gone. You'll thank yourself come January when you don't have huge credit card bills. 4. Spend benefits you'll lose Take stock of the benefits you have that won't roll over to 2024. Whether that's unused vacation days, medical dependent care benefits, or money in your flexible spending account, use your workplace benefits to your advantage. 5. Make any last charitable contributions December 31 is the last day your donations can go on your 2023 tax return. If giving to charity is part of your spending plan, use these three questions to make the most out of your charitable giving. 6. Pump up your 529 account More than 30 states allow for a tax deduction for your contributions to a 529 plan. However, to count for this tax year, contributions must be made by December 31. 7. Max out your 401(k) If you have a spouse who works as a W2 employee, 401(k) contributions made through December 31 count for the 2023 tax year. If you have extra cash and want to boost your savings, consider adding your spouse's last 2023 paycheck to their 401(k). 8. Find your tax return Tax season is right around the corner, so prepare yourself now, while you have some space and mental energy. You can also use this time to assess whether a Roth conversion is best for you. 9. Review your will and trust With end-of-year reflections, you're keenly aware of all the changes in life. Remember, your estate plan is also affected by those changes and needs to match your current situation. Checking your estate documents is especially important if you've gotten married, gone through a divorce, or had children in the past year. 10. Review your insurance documents Just like your estate documents, your insurance policies should also cover your current needs. Review your life and disability policies to ensure they protect your income and those dependent on you. Also, your renters and homeowners insurance should protect any additional big purchases you made during the year, and your health insurance policy should be reviewed for any upcoming changes. Resources + Links The bucket budget: How To Get Control Of Your Spending Without Tracking Every Penny Questions for charitable giving: How To Make The Most Of Your Charitable Giving States that offer a tax benefit for 529 plan contribution Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Online: Instagram, Facebook, LinkedIn, X (formerly known as Twitter), Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian chats with inclusive entrepreneurship expert Ebony Janelle. As an Empower by GoDaddy manager, Ebony drives GoDaddy's corporate program that helps underserved entrepreneurs thrive. She manages the day-to-day operations that provide education, networking, and mentorship to small business owners from underfunded communities.  On the episode, Ebony discusses the challenges facing LGBTQ+ entrepreneurs, including a disparity in funding and resources. She also shares the three pillars that entrepreneurs of all kinds can use to uplevel their businesses and how the use of generative AI can give small business owners some of their precious time back. Episode Highlights Mission-driven businesses support positive change. Ebony defines a mission-driven business as a company that seeks to solve or change social problems, demonstrating responsibility for supporting positive change in the world. She's proud that the company she works for, GoDaddy, meets that definition -- especially because the work she manages within GoDaddy's signature Social Impact program and Empower by GoDaddy are crucial components of GoDaddy's mission to make opportunity more inclusive for all. “The mission is actually what drives all aspects of the business,” she said. “Not only does it help local economies, it also helps build intergenerational wealth for families.” Three pillars for success: Education, networking, and mentorship. Empower by GoDaddy espouses three pillars to help business owners succeed: Education, networking, and mentorship. All three pillars are needed to “uplevel” entrepreneurs, according to Ebony. “Without the education of how to run your business, you're not going to have the opportunity to network or find a mentor,” she said. “If you don't have the networking of like-minded individuals, you're not going to be able to run ideas past them or improve your education. And without a mentor, you don't have the necessary pathway to discuss areas of opportunity or talk through roadblocks.” Use generative AI to get some time back. Small business owners wear many different hats, and there's never enough time to do all the tasks on the to-do list. Recently, Ebony has heard entrepreneurs using generative artificial intelligence (AI) tools, such as ChatGPT, to lessen the time it takes to do some of the more menial tasks. As a result, the business owner can focus on bigger, more important items. “Using generative AI can really be helpful to your small business to automate some of the things that you may not have the time to do,” Ebony said. Don't do it alone.  Especially if you're an entrepreneur from an underserved community, you may feel like there's no one else who's faced the hurdles you're experiencing. That's why it's important to find a community of like-minded individuals. “One of the things that a lot of small business owners don't take into consideration is that there are others that have done it before you and can give you some practical advice to help you over the hurdle you may be facing,” Janelle said. “Don't try to do it alone.” Resources + Links Ebody: LinkedIn, X (formerly known as Twitter) Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Online: Instagram, Facebook, LinkedIn, X (formerly known as Twitter), Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian chats with serial entrepreneur and SendGrid founder Isaac Saldana about his new venture Memo, which helps people build authentic and trustworthy personal brands. On the episode, Isaac opens up about how his introversion initially made it difficult for him to sell his expertise online, and how he's now using his experiences to help other entrepreneurs and creatives effectively showcase their talents. He also gives tips for being a leader with your natural personality and for using your values to navigate difficult business decisions. Episode Highlights Mission-driven businesses move mountains. Mission-driven businesses share a motivation to make the world a little bit better. Issac says you know your level of motivation is right as a business owner when you have the passion to move mountains. "If your motivation is big enough to move a mountain, then you've found the right motivation and the right mission," he said.  Personal brands build new connections. Establishing a personal brand on social media can help convey trust and demonstrate your knowledge. While some people think the purpose of a personal brand is to be popular online, Isaac sees its true value as building connections.  "If your purpose is to connect with other people, specifically new people that you don't know, a personal brand could be influential," he said. Establish your company values early. One of the first things that Isaac did with his new company, Memo, was to establish a set of values, which spell out the word HAPPY: humility, adaptability, peers, passion, and you. Issac prioritized creating values for Memo early on because being an entrepreneur requires making decisions even when there's no right answer. In those instances, he believes it can be helpful to lean on your values. "You can't go to Google or ChatGPT and ask them to give you an answer," Isaac said. "You need something to help you make decisions, and values do that."  Build a culture around your values. Establishing company values can help with more than just making decisions. Building values into a company's culture can lead to a more efficient and happy workplace, and conveying a company's values online can help build trust and credibility with an audience.  "I can talk about values for a long time because I truly believe they make a huge difference," Isaac said. "Many entrepreneurs don't focus on that early on."  Resources + Links Isaac: LinkedIn, Crunchbase, X (formerly known as Twitter) Memo: Website, Instagram, Facebook, LinkedIn, X (formerly known as Twitter)   SendGrid: Website, LinkedIn, X (formerly known as Twitter)  Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Online: Instagram, Facebook, LinkedIn, X (formerly known as Twitter), Forbes About Brian and the Mission Driven Business Podcast  Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian chats with Elliot Greenberger, a new entrepreneur who recently pivoted from corporate leadership to business coaching. On the episode, Elliot opens up about how he felt stuck and drained before he started his business, even though he had a successful career and a fulfilling family life. He also shares the practical steps he took to launch his coaching firm and tips for creating an effective sales process that aligns with your business's mission. Episode Highlights Mission-driven businesses are born out of a sense of purpose. Every business has a purpose, whether the leaders of a company know it or not. But what defines a mission-driven business is that the company is born out of that sense of purpose, according to Elliot. "What sets a mission-driven business apart is that there's a specific kind of intentionality and specificity about the mission," Elliot said. "That mission literally drives the business." For Elliot's coaching business, the mission has evolved into teaching his clients how to be courageous. He writes a weekly newsletter called "On Courage" and is thinking about teaching courses or doing speaking on the subject. Align your sales process with your mission. A company's mission can't go very far without a sales process to support turning that mission into a reality. That's why creating a sales process that aligns with your business's mission and vision is one of the most important steps you can take, according to Elliot. "Having a process really allows me to keep my integrity as a coach," Elliot said. "It allows me to really focus on my mission and make sure I'm attracting clients and getting clients who support the work I want to do." Carve out time for self care. One of the benefits of being a business owner is being able to more easily carve out time in the day for self care. For Elliot, that sometimes looks like ending his day at 3 p.m. and going for a swim as a way to care for himself and do what's best for his business. "The way I pace my day not only helps me become a better person to those around me, it also helps my business," he said. "It helps me as a coach, and there's something that can be transmitted about that to the people that I work with." Resources + Links Elliot: Website, LinkedIn Elliot's Substack and the “On Courage” Newsletter Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Online: Instagram, Facebook, LinkedIn, Twitter, Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian chats with Spider Perry, founder of the inclusive clothing company NerdyKeppie. Spider initially created the company as a side business to provide LGBTQ Judaica for their daughter and now runs NerdyKeppie full-time with the help of several part-time employees. On the episode, Spider shares how the business has evolved throughout its growth. They also list their top tips for keeping a business afloat and emphasize the importance of delegation. Episode Highlights Mission-driven businesses create the world you want to live in. Spider defines a mission-driven business as a company that actively tries to create the kind of world you want to live in. This definition of a mission-driven business extends beyond just the products a company makes to the working environment it provides for employees. “It has to go both ways,” Spider said. “It would be hollow if it were only outward facing or only inward facing.” Get organized from the beginning. When Spider started NerdyKeppie, they were the only person who had to understand how files were named and organized. But as the company has grown, the system they created didn't always make sense to the other people working at the company. They advise other business owners to strategically organize files from the start. “Keep track of things better than you think, and do it from the beginning,” Spider said. “I still have a file on our server now that I still have to finish sorting.” If you don't trust a person, don't work with them. Delegation is a crucial part of running a business, so it's important to trust the people that you work with. If you don't trust a person, you shouldn't be working with them, Spider advises. “If you can't hand off something to someone and trust that they're going to get it done in the way that you need, maybe you need to reevaluate that relationship,” Spider said. Spider has had to end a few business relationships because they couldn't trust the end result. However, the people he does continue to work with are empowered to make decisions and do the job right. “I have to pay our operations lead for the job that I want him to do,” he said. “I have to make sure that he has the tools that he needs. And then I need to stop, walk away, and let him do the job.” Resources + Links The Mission Driven Business Podcast Episode 59: Creating The Job You Want with Sarah Kendrick Spider: Tumblr, Patreon, Twitter NerdyKeppie: Website, Twitter, Facebook, Instagram Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Online: Instagram, Facebook, LinkedIn, Twitter, Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian chats with serial entrepreneur, social innovator, and author Miki Agrawal. As the founder of disruptive ventures Tushy, Thinx, and Wild, Miki is known for challenging the status quo and driving cultural change. She is also the author of best-selling books Do Cool Sh*t and Disrupt-Her. On the episode, Miki dives deep into her experience building multiple 100-million-dollar businesses. She also shares the questions she asks before starting a new business and opens up about how some of her hardest times have led to growth. Episode Highlights Mission-driven businesses do well and good. Miki defines a mission-driven business as a company that does good and well at the same time. As a member of a board on conscious capitalism, she's witnessed how companies that create socially conscious business models perform better financially, too. “It's a company that looks at the stakeholders versus just the shareholders,” Miki said. “Having not just a revenue-focused target but also an impact target is important.” Three questions to ask before starting a business. Before she starts a new business, Miki asks herself three questions: What sucks in my world? Does it suck for a lot of people? Can I be passionate about it for a really long time? “There's a saying that it takes 10 years to be an overnight success,” Miki said. “When I think about starting Tushy or Thinx or Wild, they are all things I could be really passionate about for a really long time.” 90% of success is action. Miki likes the saying that 90% of working out is putting on your running shoes and walking out the door. She attributes a similar action-first mindset to success in business, too. If you're inspired and take action, you may end up somewhere miraculous. “If you have an idea in your head, take the first step,” she said. “Talk is cheap. Action speaks louder than words.” Question everything. Miki attributes her success to her desire to creatively solve problems to the best of her ability. She also credits her culturally diverse upbringing in French Canada, where she grew up with a Japanese mother and Indian father in a Hindu-Buddhist household. “We got a chance to not conform,” she said. “When you don't conform, you get to really question everything. And when you get to question everything, you invent new possibilities.” Resources + Links Miki Agrawal: Website, Instagram, Facebook, Pinterest Books: Disrupt-Her: A Manifesto for the Modern Woman, Do Cool Sh*t Tushy: Website, Instagram, TikTok, Twitter, Threads, YouTube  Thinx: Website, Instagram, Facebook, TikTok, Twitter Wild: Website, Instagram, Facebook  Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Online: Instagram, Facebook, LinkedIn, Twitter, Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian Thompson Financial just celebrated its seventh birthday. In this inspirational special episode, Brian reflects on the lessons he's learned as a mission-driven business owner over the past seven years. He also shares the moments that led him to starting his own company, critical turning points, and factors he attributes to his success. Episode Highlights: 7 Lessons 1. Celebrate your success. Starting a business is scary and involves a lot of risk. To stay grateful and humble, it's important to celebrate what you've built. “I've found taking moments to appreciate and celebrate things about my business has helped keep me present. And it's really fun to celebrate and recognize the achievements of having somebody give you money for your services.” 2. You don't have to be perfect. Everyone will mess up when it comes to running to a business. The important thing is to recognize when you've made a mistake, learn from it, and then take a different action in the future. “I've taken on too much, not served clients in the best way, or let the business consume too much of me. I've learned to accept that this is a growth process and will continue as long as I'm in business.” 3. Everything is an experiment. Thinking of your business ideas as experiments can help you overcome paralysis from fear of change and seize new opportunities. Continuous experimentation that follows the principles of build, measure, and learn empowers you to create the business you want. “It takes the pressure off by thinking that everything I do in the business is an experiment. I've had so many opportunities to try different things or take the business in a different direction.” 4. Follow your curiosity. The good and bad thing about being a business owner? You can build whatever you want. To help you find focus and direction, follow your curiosity. “What things do you really enjoy? What do you find yourself working on or researching when you ‘should' be doing other things? The answers to those questions have helped me develop many new aspects of my business that I never initially considered.” 5. Delegate (even when you don't want to). It takes time to follow the things you're curious about or take the business in a new direction, which means you're going to have to give up doing some of the business tasks. If you're a “control freak,” this can be difficult. “It's been very hard for me to hand off things to someone else, but I realize that in order to be able to focus and still do the things that I want to do, someone else has to take over things that maybe I don't do the best.” 6. Marketing is hard but necessary. You can have the best product or service in the world, but it's useless if nobody knows about it. To grow your business, you have to put yourself out there, promote what you do, and show people why it's important. “With things like my podcast, I've learned how to promote myself more in the service of the business and to my potential clients. It's still hard seeing myself on video or hearing my voice, but that imperfection and vulnerability helps me connect with people in ways that I didn't expect.” 7. You are enough. Chances are, there are many other business owners doing exactly what you do. If you're feeling insecure, it's important to remember that you are enough just as you are. Each business owner brings a unique and different perspective -- and that's worth a lot. “Insecurity and imposter syndrome were huge stumbling blocks for me, but they became stepping stones when I stopped comparing myself to other business owners and began focusing on my value. Whatever it takes for you to really internalize and accept your value as a person and what you bring to the world, the easier it is for you to create the thing that you do.” Resources + Links The Mission Driven Business Podcast Episode 8: Why I Started My Mission-Driven Business Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Online: Instagram, Facebook, LinkedIn, Twitter, Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian chats with professional basketball player-turned-entrepreneur Jori Davis. Jori started her professional career in the WNBA with the Indiana Fever. Her decade-long global basketball career spanned six countries and sparked her desire to help other elite athletes own their legacy. Jori's new venture, Wevolv, builds on her passion for empowering global athletes by creating a decentralized platform for global athletes to manage their careers and lifestyles. On the episode, Jori chats about what keeps her motivated as an athlete and business owner. She also opens up about some of the barriers that modern athletes face and how her company is trying to overcome them. Episode Highlights Mission-driven businesses have soul. A mission-driven business goes beyond just having a purpose but drives straight into the heart and soul of the founder, Jori said. By starting with the soul and a struggle, a founder and company get the energy and grit to do something most others wouldn't or couldn't. “It's impossible for you to just walk away from,” Jori said. “That's when you find a mission-driven business.” For Jori, that mission is to build a community of athletes that have an opportunity of ownership and force the industry to shift with the needs of athletes. However, that also puts her on the opposing side of powerful forces. “Do I get a little nervous? Yes because I know what people are capable of when it comes to money, greed, and having power,” she said. “It scares me that I will lose touch or get blinded as I'm trying to navigate these waters.” Stay humble but confident. One of Jori's greatest strengths is to find common ground with people from totally different backgrounds, while still staying true to herself. She attributes her ability to blend humility and confidence to her strong New Orleans roots. As she has traveled around the world, she has learned that not everyone knows the genuine, unconditional love of her hometown community, so she's made a conscious effort to show that kindness to others even when it's hard. “I felt it was my duty, no matter where I go, to allow someone to experience that love despite it being hard,” she said. “I might not get it returned, but that's okay because I have enough.” Detach when you're feeling overwhelmed. When Jori was younger, her stepfather would help her try and see a new perspective by encouraging her to imagine her mind detaching from her body and looking down at herself from above. Now that she's a business owner, she finds taking a similar 360-degree view helpful for finding clarity. “Literally imagine the people involved,” she said. “Pay attention to what they're paying attention to like the pieces on a chessboard. Really conceptualize the whole element, then come back to your vision and what you're doing today.” Resources + Links Wevolv: Website, Instagram, Twitter, LinkedIn, YouTube Jori's Social Media: Instagram, Facebook, Twitter, LinkedIn, YouTube Unguarded with Jori Davis podcast Follow Brian Online: Instagram, Facebook, LinkedIn, Twitter, Forbes About Brian and the Mission Driven Business Podcast  Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian chats with three-time tech founder and CEO Neha Sampat. Her latest venture, Contentstack, is a category-leading Composable Digital Experience Platform used by Mitsubishi Electric, Burberry, Icelandair, Leesa, and more. Neha has raised $169 million in capital for Contentstack over the past three years, including a recent $80 million Series C round. On the episode, Neha provides a wealth of strategies and tactics for building multiple successful businesses, including the importance of aligning a mission with company values. She also shares why she is a relentless advocate for achieving equity in the workforce and how getting comfortable with rejection helped her to become one of the top women in tech for fundraising dollars. Photos Credit: Courtesy of Austin Woman Magazine. Shot by Rudy Arocha. Episode Highlights Mission-driven businesses align with their values. Neha describes a mission-driven business as one whose mission aligns with its values. Ideally, the business's mission is to change lives, create impact, and do something meaningful. The company's values then inform how the business achieves its mission. “It all boils down to what the company's values are,” she said. “Values that are shared and understood and revisited often so that they're not just something on a board somewhere but something we're actually living on a regular basis and rewarding people to live by.” Get comfortable with rejection. Raising millions of dollars takes a lot of rejection. When Neha was figuring out how to raise capital for her startups, she was routinely told no. To get to a yes, she learned to be resilient, ask for feedback, make changes, and try again. “You do that 100 times before you get to the point where someone wants to write you a term sheet,” she said. Find your champion. Neha's breakthrough came when she found her champion and, later, her first investor. By following her champion's playbook, she reached an inflection point where her work started to come together. Now, Neha is one of the top women in tech for fundraising dollars -- a fact that makes her smile. “There's always somebody that becomes a champion for you, and when that happens, it's so magical,” she says. “There aren't a lot of female CEOs, and almost none in enterprise SAAS, that have raised this much capital. I want people to know that and see that it is possible if you stay on that course, build resilience, believe in yourself, and find champions.” Everybody has a superpower. As a woman of color tech founder without an engineering background, Neha didn't have someone successful to look up to when she was a new tech entrepreneur. Her experience made her incredibly passionate about providing access and opportunities to more people in the tech industry.  For instance, when she created Contentstack, Neha partnered with community colleges to bring students into the organization. Now, some of those students have been with Contentstack for more than 15 years. “Everybody has their own superpower, and sometimes the right access, opportunities, or education lets you unlock it,” she said. “I go out of my way to look for those opportunities.” Resources + Links Contentstack: Website, Twitter, Facebook, LinkedIn, YouTube, GitHub Neha's Social Media: Website, LinkedIn Brian's Social Media: Twitter, Instagram, Facebook About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian chats with RHEA Services founder and “accidental business owner” Sarah Kendrick. Sarah started her career as a music therapist for children and adults with developmental disabilities but later realized the need for care and support in the bereavement process while helping her family after the death of her grandma. Bringing together the skills she developed during her years as a therapist, she founded RHEA Services to simplify the life transitions pre-planning and estate closure processes. On the episode, Sarah walks listeners through her journey of becoming an entrepreneur, including the struggles that turned into stepping stones. She also shares how she's iterated and developed RHEA Services by listening to the needs of her customers and reads a blessing for business owners. Episode Highlights Mission-driven businesses make the world better. Sarah says mission-driven businesses do work that makes the world better than it is now. She started her mission-driven business, RHEA Services, in 2020 to help families and small business owners gather essential information in case something were to happen to them. “You're the only person who knows what's in your head, which is usually a good thing, but it gets troublesome when you are the one person who knows all of your most important pieces of information.” she said. “I help people basically make a map of that information so that if something happens, somebody knows where to go and look and get what they need.” She stumbled upon her line of work after reading an article about a woman in her 40s who struggled with the “business of death” after her husband died of cancer suddenly and unexpectedly. She immediately knew that helping families with the administrative pieces of losing a loved one was exactly what she wanted to be doing, but she couldn't find another business doing that kind of work. “I am very much an accidental business owner, and I think that's sometimes how mission-driven businesses start,” she said. “They see a problem and what they can do to help that problem. That was my situation.” Your customers will tell you what they need. Listen to them. The type of administrative work that Sarah set out to do in 2020 is just a small portion of what RHEA Services offers today. While Sarah didn't intentionally set out to grow her business, it has naturally evolved as Sarah uncovers her own needs and listens intently to customers' needs. “I am hearing what people need,” she said. “That doesn't mean that I have to just do whatever people want me to do, but if it feels right to me, too, that's a really lovely way to honor their faith in me.” Being a business owner is exciting and terrifying. Sarah describes herself as the type of person who prefers predictability and a schedule, which is not the life of a business owner. As she's created and grown her business over the past three years, she's learned to adjust her mindset about being an entrepreneur. She may never love the lack of predictability, but she's grown to like the challenge of solving problems. “Being a business owner is exciting, exhilarating, and terrifying, and I am far more open to it than I ever was before,” Sarah said. “I'm more capable than I thought I was, and I've developed this newfound confidence in myself.” Resources + Links RHEA Services: Website, Instagram, Facebook Sarah's Social Media: LinkedIn Brian's Social Media: Twitter, Instagram, Facebook About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian chats with long-time friend and fellow lawyer-turned-entrepreneur Jesmond Riggins. Jesmond founded Legislative Logistics, a legislative consulting company for small and medium-sized businesses. On the episode, Jesmond tells his inspiring story from graduating high school near the bottom of his class to graduating from law school and now starting his own business. He also provides insight into the motivational mindset that helps him to continue to achieve success. Episode Highlights Who you were does not determine who you will be. By the time Jesmond reached high school, he was entirely disinterested in school except for playing football. In a pivotal conversation, his football coach convinced him to not quit the team, which he now attributes as a key factor for why he stayed in school and eventually graduated. However, he graduated with a GPA of 1.3 on a 4.0 scale and a rank of 443 out of 459 students. “Graduating from high school I felt lost,” Jesmond said. “I remember thinking to myself, ‘I'm going nowhere. I'm left behind.'” While his friends went off to college, Jesmond joined the military. After his time in the service, he worked full-time and attended community college while sleeping in the living room of his mother's apartment. Because of his poor high school performance, he had a lot of catching up to do and took several remedial classes. Despite the difficulty, Jesmond kept pushing and landed a scholarship to continue his education at St. John's University in Queens, NY, where he decided to study government and politics. His professors saw a brilliance in him that they cultivated, which led him to attend Rutgers University law school and land a job after graduation in the Department of Justice. “I was lucky enough to find myself in the Civil Rights Division,” he said. “I was the only Black male civil rights analyst who implemented and enforced section five of the Voting Rights Act.” Outwork your imposter syndrome. Even as Jesmond worked toward a future he wanted, he struggled with self-doubt and imposter syndrome. To overcome those feelings, he gave his studies his best effort and gained confidence as the effort he put in reflected in his grades. “I was deathly afraid that people would find out that I was stupid, that I'm not supposed to be there,” he said. “So I worked hard. I studied every single day. And when I got my first report card back, it was straight As.” Create a business that solves a problem. Desmond's law career spanned a variety of government and politics-related roles, where he noticed that many people from organizations didn't know how the political system worked and how to best influence it. “I had no idea that what I was observing would turn into a business idea," he said. "It was just something that I noticed and all of us complained about.” Once he realized he could create a business to help small and midsize businesses that can't afford lobbyists, he came up with the dollar amount he needed to save to cover the essentials for himself and his family while he got his business off the ground. Then, he saved as if his life depended on it. "If you wait for the right moment, you may never do something," he said. Resources + Links Jesmond's Social Media: LinkedIn Brian's Social Media: Twitter, Instagram, Facebook About Brian and the Mission Driven Business Podcast  Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian chats with Krish Himmatramka, the founder of Do Amore, which sells ethically sourced engagement rings to further its mission of providing clean water to people in developing countries. On the episode, Krish shares his journey from mechanical engineer to mission-driven entrepreneur, including his experience on the hit TV show Shark Tank. He also provides insights into building a for-profit brand that makes an impact and details how he scaled his business from an $18,000 investment to netting $40 million in sales. Episode Highlights Mission-driven businesses change lives. Krish defines a mission-driven business as one where you want to make money and use some of that money to improve a community -- whether that community is small and local or the entire world. His company, Do Amore, fulfills its mission by bringing clean water to a person in a developing country every time a customer buys an engagement or wedding ring. “Do Amore is basically the most ethical engagement ring and wedding ring company in the world,” Krish said. “This way a couple can use their life-changing moment to actually change another life forever.” Make an ethical case for a for-profit company. Before Krish started Do Amore, he saw many nonprofit businesses trying to bring people clean water, but few that made a significant impact at fulfilling that mission. Rather than starting yet another nonprofit, he thought he could positively change more lives by funding nonprofit work with the sales from a for-profit business that sold something expensive at a large volume -- like engagement rings. “I focused on making an ethical ring for my girlfriend that actually helped the world,” Krish said. “The best way to do this was to sell something expensive that was high volume and high profit margin, so that every time we sell something, we could make a massive difference.” Keep a startup mentality. Krish saved $18,000 to start his business, and it's the only money he needed to invest. He largely credits the success to avoiding inventory costs by only making orders after receiving payment from a customer, but he also says putting his savings into the company forced him to make the business work. “It was a very slow and steady process,” Krish said. “You start with selling one ring a month, then the next month selling three, then five.” Advertise your mission -- especially on SharkTank. After years of slow but steady growth, Krish says two decisions were crucial to building Do Amore's momentum: (1) Migrating to a “real website” that he didn't build himself and (2) paying for advertising. Another great way to advertise? Being on the hit TV show Shark Tank, as Krish can attest since he was featured on Season 13 of the show. “Having people like Mark Cuban and Kevin O'Leary talking to you on the screen adds some trust,” Krish said. “I think it added a trust component for us.” Resources + Links Watch Krish's Shark Tank episode Do Amore: Website, Twitter, Instagram, Facebook, Pinterest Krish's Social Media: Twitter, Instagram, LinkedIn Brian's Social Media: Twitter, Instagram, Facebook About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian chats with Paul Pastor, a media and tech entrepreneur who currently serves as Chief Business Officer and Co-Founder of Quickplay. In the episode, Paul shares his experience transitioning from media to the tech industry -- and how he immediately noticed and began to address a lack of diversity in the latter. He also discusses the business case for diversity and opens up about the lessons he learned from a previous failed business venture. Episode Highlights Mission-driven businesses follow personal motivations. Mission-driven businesses take a step back and follow the personal motivations of their founders, according to Paul. When he created Quickplay, he had three big drivers and motivators behind the vision for the company: Do you see a big idea and want to chase it? Can you continue to drive impact in the industry that you have? How do you make sure you keep a sense of responsibility that comes with being an entrepreneur? Paul and his co-founders stayed true to their answers as they created a company that builds out the technology behind streaming services. Paul's also guided Quickplay to a broader LGBTQ+ ally-driven initiative, which gives the company an even greater sense of mission and purpose. “I think about how do I, from a company perspective, not only make an impact on a specific technology or specific television show distribution, but also how do I step up as an individual and how do we step up as a company and say there's other things that are important about the way we do business,” he said. Make a business case for diversity. When Paul moved into the tech industry, he immediately noticed the lack of diversity. Walking around a trade show, it was clear that the majority of attendees were white or Indian men. In response, he's made it a focus for Quickplay to create space for LGBTQ+ individuals and allies in the tech industry -- and the result is a positive impact on the business. “At the National Association of Broadcasters conferences, we had a co-sponsorship with Google Cloud, and what I loved was not only did we have a huge number of attendees but it became an event that people wanted to go to and co-sponsor,” Paul said. “Anil Jain from Google stood up and said, ‘This is the company that shares the values of how we like to operate, and that's the type of company we want to do business with.'” Culture always wins. Not only can diversity lead to business opportunities, but it can also create a work culture that allows employees to do their best work alone and together. As a result, the company creates a strong, safe, and respectful culture that allows it to thrive. But Paul emphasizes that culture has to stop at the top. “When a leader walks in the room, everybody else is looking at how that leader walks into the room,” Paul said. “Your presence, how you communicate, how you talk to others matters because it sets up how others mimic those behaviors and fundamentally take on the positive and negative aspects of the company.” Find product-market fit quickly and cheaply. The first gate for a business to cross on its way to success is product-market fit. Paul emphasized that it's important to find product-market fit as quickly and cheaply as possible because once you can show fit and market size, you can find capital to grow. “It takes a lot of discipline to make sure you follow through those proper phases,” Paul said. “We've clearly agreed and defined our goals, so we're not spending a lot of time debating the next step because we've already defined where we're headed.” Resources + Links Quickplay: Website, Twitter, LinkedIn Paul's Social Media: LinkedIn Brian's Social Media: Twitter, Instagram, Facebook About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Now that we're past the tax deadline of April 18, you may be tempted to throw your tax return into a drawer or folder and not think about your taxable income or deductions until next year. But now is the best time to look over what you filed and think ahead. Brian walks listeners through the 1040 tax form, so you can catch mistakes before it's too late and start planning for next tax year. Episode Highlights  Part 1: Personal information  This is the place to make an excellent first impression. Missing your name, address, and social security number will get you rejected immediately. Make sure your filing status and dependents are correct. The definitions generally focus on your status as of the last day of the last year, and if multiple options apply, pick the one that's best for you.  This section of the 1040 tax form also has two checkboxes. The first asks if you'd like to contribute $3 of your tax money to the presidential election campaign fund. The second asks about digital assets, such as cryptocurrency, and it's important to not skip.  Part 2: Gross income Gross income is pretty much anything and everything you've earned. Just some examples listed in IRS Code Section 61 include earnings from fees, commissions, fringe benefits, business gains and dealings, property interest, rent, royalties, dividends, alimony, annuities, and pensions.  Importantly, gross income doesn't just include cash. For example, exchanging legal services or dental services is also part of your gross income. Part 3: Above-the-line deductions  Once you have your gross income, it's time to make some adjustments, deductions, and allowances to figure out the final amount you owe the government. Figuring out your taxable income can be complicated -- after all, the tax code is 74,000 pages long. Use the income documents you receive, such as W-2s or NEC-1099s, and any tax software to guide you. Reading the form details can also be surprisingly helpful, and the IRS provides a guidebook called Publication 17.  In the tax world, there are two types of deductions: above-the-line deductions that reduce your total income and below-the-line deductions that reduce your taxable income. There are a lot of adjustments you can make, so take time to read through and figure out which ones apply to you.  Most people can access the above-the-line adjustments if they have a qualifying expense. You can find a list of your adjustments on Part 2 of your Schedule 1, the same document you use to identify additional income sources.  Part 4: Below-the-line deductions Your gross income minus the above-the-line deductions becomes your adjusted gross income (AGI). Now it's time to look at the below-the-line deductions to get to the final taxable income figure.  Take a look at the standard and itemized deductions. The standard deduction is the standard amount you can subtract from your AGI based on your filing status. Alternatively, you can deduct itemized deductions if the total adds up to more than the standard deduction. Itemized deductions appear on your Schedule A and include medical and dental expenses, interest paid on your mortgage or mortgage insurance, gifts to charity, casualty and theft losses, certain taxes, and more. If you're a business owner, the qualified business income deduction allows the owners of sole proprietorships, partnerships, S-corporations, and some trusts and estates to deduct up to 20% of their qualified business income (QBI).  Part 5: Other taxes Once you've subtracted your below-the-line deductions from your AGI, you have your taxable income. From your taxable income, the IRS uses its tax tables to determine how much tax you need to pay on your income.  The 1040 also has a line for other taxes. Several additional taxes that may need to be paid, such as the alternative minimum tax, which is an alternative form of taxation that applies to some taxpayers.  Part 6: Credits and payments The last way to reduce your tax involves taking tax credits. While a deduction reduces your taxable income, a tax credit has the advantage of deducing your tax liability dollar-for-dollar. Also, some tax credits are refundable, so even if your credit exceeds your tax liability, you get the excess back. Credits include the foreign tax credit, the child and dependent care credit, education credits, retirement sayings credits, adoption credits, alternative motor vehicle credits, and residential energy credits. The Schedule 3 form provides more information about the qualifications and restrictions of credits. Once you have your total tax, whether you get a refund from the government or owe tax money depends on payments made throughout the year through withholding from an employer and estimated tax payments. Resources + Links Form 1040 Form 1040X Schedule 1 Schedule 2 Schedule 3 Qualified Business Income Deduction “Can I deduct that as a business expense?” An Expert Guide To Understanding The 1120-S Tax Form Brian's Social Media: Twitter, Instagram, Facebook  About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian chats with Yong-Soo Chung, a serial entrepreneur who founded three e-commerce companies in the span of seven years. With his latest venture, the podcast First Class Founders, Yong-Soo is on a mission to impact entrepreneurs by sharing his lessons on building sustainable businesses from bootstrap to earning more than $1 million in annual revenue. On the episode, Yong-Soo shares his three pillars for a successful business and fulfilling life. He also discusses the importance of listening to your intuition and taking advantage of the opportunities that come your way. Episode Highlights Mission-driven businesses do more than make money. Yong-Soo defines a mission-driven business as one that has an intention or purpose beyond making money. Whether it's helping a community or donating a percentage of profits to a cause, mission-driven businesses do activities for a bigger purpose. "The way I like to put it is when you're living, money is like oxygen, so you need money to survive,” Yong-Soo explained. “But it's not like you're living your life to breathe, right? That's the kind of way that I like to look at it." Root yourself in a city that supports your growth. Before becoming a serial entrepreneur, Yong-Soo worked in finance in New York City. Following his intuition, Yong-Soo decided to take his life in a new direction by moving to San Francisco and pursuing his own business. “What I was doing didn't feel like something that would fulfill me 5 or 10 years down the line,” Yong-Soo said. “I knew that it was like a bandage that just needed to be ripped off, and I just needed to essentially start over in a new area.” The move was difficult but allowed him to meet people with similar goals and discover opportunities he would have never known existed. His personal values and vision for the future were key in deciding which city to live in and which opportunities to pursue. “New York City is obviously a fantastic city for opportunities, but it didn't serve what I wanted to do 5 to 10 years down the line,” Yong-Soo said “Being rooted in an area that you want to compound yourself in all areas of your life is really the key.”  Three steps to live your best life. Yong-Soo lists three simple but impactful actions to live your best life: Focus on what you can control. Focus on what you do have. Do not dwell on the past. “The chances of an app succeeding in a big way was very small, but it's more about the learning process and the lessons you're going to learn along the way,” Song-Yoon said. “That's where the gems and the valuable lessons come from.” Resources + Links First Class Founders: Website, Podcast Spotted by Humphrey: Website, Instagram Urban EDC: Website, Twitter, Instagram, Facebook, YouTube, TikTok Growth Jet: Website, Instagram Yong-Soo's Social Media: Twitter, LinkedIn, Instagram, TikTok Brian's Social Media: Twitter, Instagram, Facebook About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Brian chats with Tuesday P. Brooks, a business owner, educator, trusted tax and accounting advisor, and U.S. veteran. Her company, AJOY, champions profitability for women-led micro and small businesses. On the episode, Tuesday shares the power of being open to suggestions and how following where you're led can lead to some incredible outcomes. She also breaks down how prioritizing profitability can help entrepreneurs better support their mission and create impact. Episode Highlights Revenue is a primary focus for mission-driven businesses. Tuesday describes a mission-driven business as one in which the people running it understand that revenue and sales have to be a key focus. If you're running a business with a good cause that doesn't make any money, then you're essentially volunteering. “The only way you can support your mission is if you have the resources to do it,” Tuesday said. “And resources mean money.” The need for revenue to support a mission is particularly impactful for Tuesday as her company AJOY teaches financial fluency to business owners. The company specializes in helping womxn-led businesses achieve profitability through three tiers of support: bookkeeping, cash management, and tax strategy. “If they're employing all of these things, they have no choice to but to be profitable,” she said. You can't grow if nobody knows what you do. Before AJOY existed as a financial management firm, Tuesday used the brand name to provide a wide variety of business services to clients. The problem was that the company didn't grow because nobody quite knew what she did. “If during that time you were to ask 10 people, ‘What does Tuesday do?,' you would have gotten 10 different answers because I was capable of doing a lot of things,” she said. Then, in 2009, she decided to focus on accounting and tax for small businesses. Once she claimed her niche, the business started to grow because people became very aware of her services and did not come to her for anything else. “I have not wavered from what we do, and how we do it has only gotten better,” she said. “People started to understand they could rely on us.” Follow where you're led. Before leaning into running a financial management firm for womxn-led businesses, Tuesday had a winding career path. She got her Master's in Education based on a friend's suggestion and her Business Degree in Media Management because her Mom saw a flier for a program. She also discovered her niche because her mentor and business coach suggested she go to a boot camp. Her experiences have led her to espouse the power of being able to follow. “Everybody talks about leadership, but there's also power in being open to suggestions and doing things,” she said. “It led to so many wonderful experiences that brought me to where I am now, and it's how we're able to support our business because I tapped into so many industries.” Resources + Links AJOY: Website, LinkedIn, Twitter, Instagram, Facebook, YouTube Tuesday's Social Media: Website, LinkedIn, Instagram Brian's Social Media: Twitter, Instagram, Facebook About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

It's tax season crunch time. In this episode, Brian will walk you through the S-Corporation income tax return to help you better understand what you're filing and hopefully catch mistakes before it's too late. He provides a section-by-section analysis of Form 1120-S and highlights key areas that business owners and tax professionals make mistakes. Episode Highlights Part 1: Heading, Income, Deductions, Tax and Payments Most of this information is drawn from your business's Profit and Loss Statement. Here's a breakdown of what's on the first page: Calendar year: The very top of the form asks for the calendar year. If the corporation has a calendar year-end, leave this blank. If a fiscal year or short year put in the appropriate dates. Address: Underneath the calendar year, the form asks for a name and address. Use the name set forth in the charter or other legal documents, such as your Employer Identification Number (EIN) letter. Item A: Located to the left of the address, Item A asks for your S election effective date. You should have a letter from the IRS (CP 261) with your S-Corp starting date. This date should stay the same every year. Item B: Your business activity code. This code shows the IRS exactly what you do. Item C: Item C only applies if you have assets of $10 million or more. Most of the time, Item C will not be checked. Item D: Put your EIN in Item D. Make sure to verify it's correct before you file your form. Item E: Your date of incorporation should match the articles of incorporation. This date may or may not be the same date as your S-election. Like the S-election date, the date of incorporation won't change. Item F: Total assets at the end of the year. Item G: If the corporation is electing to be an S-Corp beginning with the current filing tax year, check the appropriate box. If the S-Corp did not already file the S-Election, attach Form 2553 with the return. Item H: These boxes should be self-explanatory. Check the boxes that apply. Item I: Enter the number of shareholders in the firm (e.g. yourself and your partners). Item J: Most of the time, Item J will not be checked. If you believe that one of the Item J items applies, follow up with your tax accountant. Income: Report gross revenue your business has earned for the year and any additional income or interest income that you may have incurred. Only report trade or business income. Do not list rental income, portfolio income, or tax exempt income (those go on your Schedule K). Expenses: Report all deductions on your Profit and Loss statement. Pay special attention to the following lines: Line 7: Compensation of officers should have something on it. S-Corporations must pay shareholder/employee reasonable compensation for services rendered, and failing to put reasonable compensation could lead to an IRS audit. Also included on this line are fringe benefits, including employer contributions to health plans and group term life insurance, for shareholders/employees owning more than 2% of the corporation stock. If your S-Corp has total receipts of $500,000 or more, you'll need to attach Form 1125-E to explain what was paid to each officer. Line 8: Salary and wages paid to employees (other than officers) of the corporation. Line 17: An S-Corporation can deduct contributions made for its employees under a qualified pension, profit sharing, annuity, SEP plan, Simple plan, or any other retirement deferred compensation plan. This includes shareholders/employees owning more than 2% of the corporation stock. Line 18: Employee fringe benefits provided to officers and employees owning less than 2% go on this line, such as health insurance, disability insurance, and educational assistance. Line 19: Line 19 includes any other deductions. There should be an attached statement, and it should match your profit and loss. The numbers should be close to your Profit and Loss statement. Taxes and payments: In general, an S-Corporation does not pay taxes at the corporate level, so this section will be blank. Signature: It's important to sign the return only after verifying all of the information, including the following sections. Part 2: Schedule B This section is mostly self-explanatory questions. Make sure to read and understand each question. Below are two lines to pay special attention to: Box 1: This easy-to-miss box can change your entire return if you're not careful, since it's where you select whether you're a cash or accrual basis taxpayer. Once you choose an accounting method, you generally cannot change without approval from the IRS. Box 2: Here is where you explain what you do. Part B is an either/or question, so state whether you sell products or services. Also, if you hire contractors, say yes to question 14 -- and hopefully you got out your 1099 forms by January 31. Part 3: Schedules K and K-1 Schedule K reports the pro rata share items in total for the Corporation. Schedule K-1, which you receive in your personal name, reports the percentage of pro rata share items allocable to each shareholder.  Lines 1-17 on Schedule K correspond to Boxes 1-17 on Schedule K-1. Most items on Schedules K and K-1 are self-explanatory and come from other parts of the return. Part 4: Schedule L  This is where many taxpayers make a mistake. Schedule L matches your business' balance sheet and should agree with your books and records. If it doesn't, find out why before you file. The first two columns match what your accounts were at the beginning of the year and should match what the accounts were at the end of last year. If this is your first year filing an 1120-S return, these two columns should be blank. The second two columns are for what the accounts had on December 31 of the previous year and will carry over to next year's return. Some of the most common assets on Schedule L are: Line 1: Write the amount of cash in your bank account on the last day of the year. Line 7: Loans to shareholders are loans from the corporation to the shareholder. Keep in mind, these loans need to be documented and should have a repayment schedule and interest rate. Line 10a: Buildings and other depreciable assets are fixed assets that the business owns that have been depreciated, such as real estate, furniture, or machinery  Some of the most common liabilities on Schedule L are: Line 18: Other current liabilities are expenses incurred at the end of the year but not paid until January of the next year. Current expenses often include wages, state taxes, federal taxes, and payroll taxes payable at the end of the year.  Line 19: Loans from shareholders are loans from the shareholder to the corporation. As with the other loans, these loans should be documented and include a repayment schedule and interest rate. Line 22: The par value or stated value of the capital stock issued by the corporation. This amount stays the same each year unless the S-Corporation issues additional stock after incorporation. The corporate charter or minutes should identify the stock. Line 23: Enter the beginning and ending balances of additional paid-in capital. This includes the amount contributed to the S-Corp by shareholders for which the corporation did not issue stock or amounts contributed in excess of the stated or par value. Line 24: This section is especially tricky. You should base the retained earnings on the S-Corporation's books and records. Most of the time, retained earnings should match the Accumulated Adjustments Account (AAA), other adjustments account (OAA), and previously taxed income (PTI) balances on Schedule M-2. Line 27: This line represents the total liability and shareholders equity. This line must match line 15. If you answered “yes” to question 11 on Schedule B that your total receipts were less than $250,000 and total assets were less than $250,000, then you aren't required to file a Schedule L. However, it may be beneficial to file Schedule L anyway because it will be crucial for future balance sheets. Part 5: Schedules M-1 and M-2 Schedule M-1 helps explain discrepancies between the books and your tax return. This section should explain any differences you notice.  Some common items reported on Schedule M-2 include: Meal expenses (100% on books, 50% on taxes) Entertainment (100% on books, 0% on taxes) Life insurance premium expense (100% on books, 0% on taxes) Certain fines and penalties (100% on books, 0% on taxes) Political contributions (100% on books, 0% on taxes) Book depreciation expense (100% on books, 0% on taxes) Tax depreciation expense (%0 on books, 100% on taxes) Tax-exempt income (100% on books, %0 on taxes)  Schedule M-2 tracks the income and losses and separately states items that the shareholder should report on their tax return. Resources + Links  Bank Reconciliation 101 Lessons from the 1099-NEC deadline Brian's Social Media: Twitter, Instagram, Facebook About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.