What I Believed About Business in 2016 and What I Know Now
Mission Driven Business
Ten years of entrepreneurship changes the way you think about almost everything. In this episode, Brian Thompson shares ten belief shifts that shaped his journey from 2016 to 2026, and what they might mean for wherever you are in building your own business. Brian introduces two versions of himself: 2016 Brian, the guy who just walked away from a comfortable legal career with a vision and a lot of assumptions, and 2026 Brian, someone who has spent a decade building a business, serving clients, making mistakes, and learning along the way. The result is an honest and personal reflection on what...
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A Decade in Business: Lessons, Gratitude, and What Comes Next
Mission Driven Business
Ten years ago, Brian Thompson walked out of his law firm for the last time with a vision, a lot of fear, and no guaranteed paycheck. In this episode, he reflects on a decade of entrepreneurship, the lessons that shaped him, the people who made it possible, and what the next ten years of mission-driven financial planning looks like. This is not a strategy episode. It is a personal and heartfelt thank you to everyone who has been part of the BTF journey, and a reminder that meaningful businesses are not built overnight. They are built one conversation, one client, one courageous decision, and...
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How to Review Your Business Finances Mid-Year
Mission Driven Business
The halfway point of the year is one of the best moments to review your business finances, and most entrepreneurs let it pass without taking action. In this episode, Brian Thompson shares the CASH framework, a simple mid-year review you can complete in under an hour, that helps you understand where your business stands and make better decisions for the second half of the year. Brian gets honest about his own relationship with numbers and why most entrepreneurs avoid their finances, not because the news is bad, but because looking feels uncomfortable. This episode is a practical and...
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How to Make Better Business Decisions Using a Simple Framework
Mission Driven Business
Most entrepreneurs treat business problems as money problems. In this episode, Brian Thompson makes the case that they are almost always alignment problems, and that better decision-making starts not with tactics, but with mission, vision, and values. Brian shares the alignment framework he uses with entrepreneurs across industries to help them make decisions with more clarity, confidence, and purpose. If you have ever felt like your business decisions are harder than they should be, this episode will help you understand why, and what to do about it. In this episode you will learn: Why...
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Why Better Systems Won't Fix Entrepreneurial Burnout
Mission Driven Business
Refining workflows and checklists cannot solve every foundational business hurdle. In this episode, Brian Thompson explores why a focus on optimization often leads to the avoidance of deeper personal and operational challenges, and what actually builds true resilience over the long term. Brian opens up about navigating a profound capacity problem during a period of intense personal transition and business growth. If you have ever felt exhausted despite having a perfectly organized schedule, this episode explains why the solution often requires subtraction. In this episode you will...
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Choosing the Right Business Structure for a Mission-Driven Business
Mission Driven Business
Choosing the right business structure is one of the most important decisions a mission-driven business owner will make, and taxes are only part of the story. In this episode, Brian Thompson walks through every major business structure available to entrepreneurs, viewed through the lens of ownership, profit sharing, decision making, and mission protection. Whether you are just starting out, growing your team, or thinking about the best way to share profits, this episode will help you ask better questions and make a more informed decision about the structure that fits the business you are...
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People Before Profit: The Co-op Business Model
Mission Driven Business
Most entrepreneurs have never seriously considered the cooperative business model, even though some of the most recognizable brands in the world are co-ops. In this episode, Brian Thompson sits down with D.G. Safeer Hopton, entrepreneur, healer, and author of Creating a Co-op Village, to explore cooperative economics and what it could mean for mission-driven business owners. Safeer has spent decades building co-ops, studying cooperative economics, and helping communities create prosperity through shared ownership. This conversation is a practical and eye-opening introduction to a business...
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Why Revenue Growth Isn't Making You Feel Safer
Mission Driven Business
More revenue does not automatically create financial security. In this episode, Brian Thompson explores why so many entrepreneurs still feel anxious even when business is going well, and what actually builds business stability over the long term. Brian gets honest about the gap between revenue growth and emotional security, drawing from his own experience and years of working with entrepreneurs at every stage of business. If you have ever hit a goal and still felt like everything could fall apart, this episode will help you understand why, and what to do about it. In this episode you...
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The Cost of Hiding Who You Are in Your Business
Mission Driven Business
Let's explore the real emotional and strategic cost of hiding parts of yourself as an entrepreneur, and why building a business rooted in authenticity creates stronger alignment, better marketing, and a more sustainable path forward. Brian gets personal about his own journey navigating visibility as a Black, gay entrepreneur and financial planner, and what he has learned about the difference between protecting yourself and slowly erasing yourself. If you have ever felt exhausted by performing a version of yourself you thought people expected, this episode is for you. In this episode you...
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How to Achieve Sustainable Leadership Through Delegation
Mission Driven Business
Most entrepreneurs reach a point where doing everything yourself stops working. In this episode, Brian Thompson gets honest about the emotional side of delegation, what he has learned since bringing on his first employee, and why sustainable leadership requires letting go of the need to carry everything alone. Delegation is one of the most talked about business strategies, and one of the most misunderstood. Brian shares why delegation is not just an operational decision, it is an emotional one. Underneath the resistance to delegating are fear of mistakes, fear of losing control, and fear of...
info_outlineBrian chats with Mike Michalowicz, the mastermind behind Profit First Professionals and author of books for entrepreneurs and small business owners. Mike shares his experience growing several multi-million dollar companies only to lose almost everything. He then details how hitting rock bottom became the foundation upon which he built the Profit First method, which has yielded him 14 years of profitable quarters and is now used by more than 500,000 small businesses.
Episode Highlights
Make profit a priority.
The Profit First method developed by Mike rewrites the classic accounting formula from Sales - Expenses = Profit to Sales - Profit = Expenses. Why? Because when something is a priority, it doesn’t come last, Mike noted.
“It’s human nature that when something comes first, it’s the priority. When something comes last, it’s the mañana syndrome,” he said. “That’s when I said, ‘I think the formula is flipped.’”
Profitability brings stability.
One of the problems with the original profitability formula is that increasing sales isn’t always the driver of sustainable growth, Mike said. More sales can translate to more stress, more dysfunction, and less organization.
“It starts actually causing a business to crumble because it doesn’t have runway,” Mike said.
Profit, on the other hand, can bring stability to an organization by buying a small business owner time. When small businesses have one to two months in cash reserves, they don’t have to take on stressful panic sales.
“When a business takes its profit first, they actually grow faster, profit-wise, than their contemporaries,” Mike said. “They are much more calculated in their growth.”
Don’t change yourself. Channel yourself.
Since flipping the formula, Mike has achieved 48 profitable quarters in a row. That’s because the revised formula is designed to manage human behavior. Or as Mike said in the episode, “We can’t change ourselves. We channel ourselves.”
Mike learned this lesson first for exercise. He put his gym shoes on top of the toilet seat as an intervention, so he would have to pick them up first thing in the morning. For business owners, the Profit First method sets up a similar intervention in the owner’s bank account.
“By pre-allocating business to these different accounts, or envelopes, now you know what money is intended for what purpose, and you behave within the confines of what’s available,” Mike said.
Resources + Links
- Mike’s books: Profit First, Clockwork, The Pumpkin Plan, Fix This Next, The Toilet Paper Entrepreneur, Surge, Get Different: Marketing That Can’t Be Ignored!
- Profit First Professionals
- https://mikemichalowicz.com
- Mike’s Twitter: https://twitter.com/MikeMichalowicz
- Brian’s Twitter: https://twitter.com/BrianFinancial
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.