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
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
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
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
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
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
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
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
Reclaiming Your Time with Boundary-setting
Mission Driven Business
In this solo episode, Brian Thompson outlines practical steps for business owners to take back their time, including auditing their calendars, defining a 'hell yes' filter for opportunities, using scripts to say no gracefully, and starting small with boundary-setting. He stresses that reclaiming time is an ongoing practice that requires accountability, energy tracking, and celebrating small wins. By protecting their time, entrepreneurs can create space for joy, clarity, and purpose in their lives and businesses. Why do boundaries around time management matter Time is your most valuable...
info_outline
Close The Books, Open The New Year
Mission Driven Business
In this solo episode, Brian breaks down one of the most overlooked but essential parts of running a mission-driven business: year-end bookkeeping. You’ll learn a simple, practical framework for cleaning up your books, organizing your finances, and setting up systems that actually support you and your business. If you’ve ever felt overwhelmed by accounting software, unclear categories, or messy receipts, this episode will help you start the new year with clarity and confidence. Episode Highlights Why year-end bookkeeping is a big deal The way you close this year directly affects how you...
info_outlineBrian Thompson chats with Theresa Pablos, CFP®, about the early-stage realities of building a business. A former journalist and freelance marketer, Theresa transitioned careers to financial planning in 2023 and ultimately earned the CFP® certification mark in 2025. She recently joined Equalis Financial as an Associate Financial Advisor and is just starting to build her client base. In this episode, Theresa and Brian discuss the excitement, fear, and the uncomfortable but necessary work of defining a niche. You’ll get practical tips for finding your target audience, learn how to provide real value, and get reflection tools to help you grow and scale your own business.
Episode Highlights
Defining your niche starts with understanding your “why.”
Choosing a niche allows business owners to serve clients more deeply, efficiently, and sustainably. Before you figure out who you want to serve, you need to identify why you want to build a business and what you like to do.
Theresa knew she wanted a people-oriented career that made complex data easy to understand and improved people’s lives. After some deep reflection, she discovered values-based financial planning as a career that could help her and others use their resources to create more freedom in their lives.
“I want to build my book of business because I want freedom and because I want to be an expert on a topic,” Theresa said.
Identify your target customers and provide them with value.
Once you’ve defined your why, you need to identify the type of person that you want to serve. While Theresa is still figuring it out, she’s thinking about focusing on being a financial planner for creative solopreneurs or a financial planner for tech employees and other professionals who earn equity compensation.
However, knowing who you want to serve is only half of the equation. It’s equally important to ensure the services you offer solve a real pain point for your target audience.
“A lot of my clients seems to fall into this creative solopreneur category, and something I’ve been reflecting on is that if you’re a creative solopreneur, you have a need for financial planning in a way that justifies you going out and actually hiring me or someone else,” Theresa said. “While I enjoy working with stock options, a lot of tech employees are DIYers and aren’t actively seeking advice unless something big happens to trigger the need.”
Don’t let fear of making the wrong decision stop you.
After you know how you want to serve your target customers, it’s time to test out your solutions. One way to do that is by having 100 conversations, as recommended by LeSean Smith in Episode 69. And if you’re nervous, like Theresa, then you just have to do it scared.
“My takeaway is that I just need to trust myself and that being nervous is part of the process,” she said. “Fortunately, my journalism background very well prepared me to get a lot of ‘Nos’ from people, and that’s okay because you have to get the ‘Nos’ to get the ‘Yeses.’”
Resources + Links
-
Episode 69: Building A Business For Financial Independence with LaSean Smith
-
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.