loader from loading.io

Developing an Entrepreneurial Mindset with Mark Suh

Mission Driven Business

Release Date: 12/14/2021

How to Bet on Yourself and Build a Business Around Freedom show art How to Bet on Yourself and Build a Business Around Freedom

Mission Driven Business

Building a business around freedom is more than a financial decision, it's a deeply personal one. In this episode, Brian Thompson sits down with Kyra Mitchell Lewis, a brand strategist, marketer, podcast host, and founder of and , to talk about what it truly means to bet on yourself. Kyra shares how more than 20 years in corporate marketing led her to a pivotal moment of liberation, how she built a thriving consulting business in under a year, and why keeping an open mind has been one of her greatest entrepreneurial assets.   A Business Built Around Purpose Kyra defines a mission-driven...

info_outline
How to Prepare for Next Year's Taxes Without the Stress show art How to Prepare for Next Year's Taxes Without the Stress

Mission Driven Business

Tax season doesn't have to be a scramble, but for most business owners, it is. In this episode, Brian Thompson offers a simple, practical system for taking the stress and surprise out of taxes by shifting from a once-a-year reaction to a year-round strategy. If last episode left you wondering whether you missed something, this one is your action plan.   Start With a Mindset Shift Before getting into tactics, Brian makes an important reframe: taxes are not a once-a-year event. They are a year-round strategy. This matters especially for mission-driven business owners who are growing...

info_outline
How to Optimize Your Tax Return for More Business Tax Savings show art How to Optimize Your Tax Return for More Business Tax Savings

Mission Driven Business

In this episode, Brian Thompson discusses key insights from the recent tax season, highlighting trends, surprises, and strategic opportunities for business owners to optimize their tax planning and financial health. Your tax return is not something to file and forget. If you pay attention, your tax return gives you a roadmap for what to do better this coming year. Brian also gives real-life examples of two clients that stood out this tax season.   Understanding Unexpected Tax Outcomes One of the most significant stress points during tax season is the unexpected tax outcome. Many business...

info_outline
S-Corps Explained: Tax Savings, Trade-Offs, and What No One Tells You show art S-Corps Explained: Tax Savings, Trade-Offs, and What No One Tells You

Mission Driven Business

The S-Corp question is one of the most common Brian hears from entrepreneurs, but the answer is almost never as simple as the internet makes it sound. In this episode, Brian Thompson breaks down what an S-Corp actually is, how the potential tax savings work, and the real-world trade-offs that often get left out of the conversation. Whether you're considering the election for the first time or revisiting the decision, this episode gives you the context you need to make an informed choice.   What is an S-Corp? First, an important clarification: an S-Corporation is not a business structure,...

info_outline
Budgeting Series #3: A Guide to Building Your Financial Strategy show art Budgeting Series #3: A Guide to Building Your Financial Strategy

Mission Driven Business

Awareness and acceptance lay the groundwork, but nothing changes until you take action. In this final episode of the budgeting series, Brian Thompson brings the framework full circle by focusing on what to actually do with your numbers. Because understanding your finances and accepting where you are is only powerful if it leads somewhere. This episode is about making intentional, strategic decisions that move your mission-driven business forward.   Start With Vision, Not Spreadsheets Before diving into tactics, Brian starts with something that might surprise you in a budgeting...

info_outline
Building a Profitable Practice with Authenticity and Heart show art Building a Profitable Practice with Authenticity and Heart

Mission Driven Business

Rooted in identity, community, and purpose is what it truly means to build a business with heart. Brian Thompson sits down with Kala Lacy, an EMDR-trained yoga psychotherapist and founder of , a holistic wellness practice centered on Black and queer people of color. Kala shares how she turned her own healing journey into a thriving private practice, why niching down with radical specificity was the key to her success, and what inspired her newest venture: , a mentorship community for Black, queer, and trans clinicians building aligned private practices.   A Business With Heart Kala...

info_outline
Budgeting Series #2: A Guide to Money Mindset Shifts show art Budgeting Series #2: A Guide to Money Mindset Shifts

Mission Driven Business

Money isn't just math and for most entrepreneurs, it never has been. In this episode, Brian Thompson continues the budgeting series with part two: acceptance. Building on , Brian explores the emotional side of budgeting and why looking at your numbers without shame or judgment is just as important as looking at them at all.   Why Financial Acceptance Is the Missing Piece Once you have your numbers, you're naturally going to have feelings about them. Money is tied to your upbringing, your fears, your identity, and your sense of security. Brian sees it constantly in his client work: people...

info_outline
Budgeting Series #1: A Guide to Financial Awareness show art Budgeting Series #1: A Guide to Financial Awareness

Mission Driven Business

Budgeting doesn't have to be intimidating, but it does have to be intentional. In this episode, Brian Thompson kicks off a brand new solo series on budgeting for entrepreneurs, approaching the topic through three lenses: awareness, acceptance, and action. The episode is the first and most foundational step: Awareness. Whether you're a new business owner or a seasoned mission-driven entrepreneur, understanding where your money is actually going is the starting point for everything else.   Why Financial Awareness Comes First Every January, Brian's inbox fills up with clients asking to...

info_outline
How Veterans Are Transforming Into Mission-Driven Entrepreneurs show art How Veterans Are Transforming Into Mission-Driven Entrepreneurs

Mission Driven Business

Julie Austin and Matthew Cain share their journey in leveraging their military backgrounds to assist veterans in transitioning to entrepreneurship through their podcast Dogtags to Ownership. We explore the definition of mission-driven businesses, the importance of community & networking, and the personal experiences that shaped their call to service. The discussion also touches on the significance of identity, the challenges faced during the Don't Ask, Don't Tell era and how their backgrounds influence their current endeavors. The episode concludes with insights on partnership dynamics and...

info_outline
Transform Your Business with an Annual Client Audit show art Transform Your Business with an Annual Client Audit

Mission Driven Business

Understanding your client relationships is more crucial than ever in today's fast-paced business environment. The that can help you gain clarity on your client base, enhance your business relationships, and ultimately drive growth. In this episode, Brian Thompson focuses on how a thoughtful client audit can transform your business. He emphasizes that this process is not about hastily cutting ties with clients but rather about thoughtfully evaluating client relationships to enhance business growth and personal well-being with a simple three-step process.   The Importance of a Client Audit...

info_outline
 
More Episodes

Brian chats with Mark Suh, a serial entrepreneur and founder and CEO of Everwell, an Orange County, CA-based wellness clinic. On the episode, Mark shares how a series of health trials led to a wellness journey that transformed his life and sparked his passion for Everwell, his first mission-driven venture. 

Mark also opens up about why mindset is the most challenging but essential aspect to develop as an entrepreneur. And he touts the importance of flexibility, a skill he used after opening the doors to Everwell just months into the COVID-19 pandemic.

Episode Highlights

Mission-driven entrepreneurs never work another day.

Although it’s cliche, Mark believes that mission-driven entrepreneurs never have to work another day of their life. That’s because their passion underlies everything they do for the business.

“I don’t really feel like I’m coming to work,” Mark said. “Mondays are exciting. Mondays are not a drag.”

For Mark, that mission is to help people become the best version of themselves one client at a time. It’s a mission that’s personal to him because when he was in his 30s he went through a series of health challenges, including two back surgeries. He attributed the health trials to sacrificing his health to build prior businesses.

“In my 20s and 30s, I thought all you gotta do is sacrifice your body to make ends meet and make money and that’s all that mattered. ... Then I found my passion,” Mark said. “I love being able to help and being able to have the solutions and answers, especially since I’ve lived through it.”

Mindset is the hardest part.

Mark believes that developing an entrepreneurial mindset is the hardest part of starting your own business and a key reason why more people don’t make that entrepreneurial leap. Being an entrepreneur means having a belief in yourself that is stronger than fear of instability, risk, and uncertainty.

“That belief in yourself has to be strong enough so that you don’t quit,” Mark said. “Everything else you can figure out. … But the emotional part, it’s hard to teach. It’s very difficult.”

Be able to pivot quickly.

Mark advises mission-driven business owners to be fluid and be able to pivot quickly depending on the situation. That’s a skill he has employed after opening his clinic in the early months of the COVID-19 pandemic.

“The business right now that we have is not the business that we set out to do,” Mark said. “We’ve had to add different products; we had to push different things; we had to shift our branding a little bit.”

It’s also important to balance nimbleness with a long-term vision, Mark said. He’s always projecting where he wants his business to be in a few years and has an exit strategy in mind.

“Climates change, and nothing lasts forever,” Mark said. “During the financial crisis … when I saw humongous corporations go under that have been around for decades, I came to the realization that nothing lasts forever, so we’ve got to have an exit strategy.”

Resources + Links

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.