Mission Driven Business
Diverse entrepreneurs share their experiences, strength, and hope to help mission-driven businesses thrive. In a series of intimate conversations, attorney and CFP Brian Thompson and his guests provide practical steps to create businesses with impact and profit.
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The Mission Driven Business Podcast Episode 85: Nursing Your Instagram Profile To Wealth with Jumer Adalin
10/08/2024
The Mission Driven Business Podcast Episode 85: Nursing Your Instagram Profile To Wealth with Jumer Adalin
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 , 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 Jumer Adalin: , Brian Thompson Financial: , , Follow Brian Thompson Online: , , , , 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.
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The Mission Driven Business Podcast Episode 84: Improving Financial Security for the LGBTQ+ Community with Debt Free Guys David and John Auten-Schneider
09/24/2024
The Mission Driven Business Podcast Episode 84: Improving Financial Security for the LGBTQ+ Community with Debt Free Guys David and John Auten-Schneider
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: Queer Money Podcast Episode 31: Queer Money Podcast: , , , , Debt Free Guys: , , , , , Brian Thompson Financial: , , Follow Brian Thompson Online: , , , , 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.
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The Mission Driven Business Podcast Episode 83: Braving Discomfort to Live Your Purpose with Channyn Lynne Parker
09/10/2024
The Mission Driven Business Podcast Episode 83: Braving Discomfort to Live Your Purpose with Channyn Lynne Parker
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: , , , , Channyn Lynne Parker: Brian Thompson Financial: , , Follow Brian Thompson Online: , , , , 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.
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The Mission Driven Business Podcast Episode 82: Creating a Thriving Private Social Network with Shadé Akande
08/27/2024
The Mission Driven Business Podcast Episode 82: Creating a Thriving Private Social Network with Shadé Akande
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: , , , Shadé Akande: Brian Thompson Financial: , , Follow Brian Thompson Online: , , , , 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.
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The Mission Driven Business Podcast Episode 81: How To Use Instagram to Amplify Your Mission and Engage Your Audience
08/13/2024
The Mission Driven Business Podcast Episode 81: How To Use Instagram to Amplify Your Mission and Engage Your Audience
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 Brian Thompson Financial: , , Follow Brian Thompson Online: , , , , 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.
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The Mission Driven Business Podcast Episode 80: Transforming Lives and AI with Wendy Gonzalez
07/23/2024
The Mission Driven Business Podcast Episode 80: Transforming Lives and AI with Wendy Gonzalez
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 , 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: Sama: , , , , , Brian Thompson Financial: , , Follow Brian Thompson Online: , , , , 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.
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The Mission Driven Business Podcast Episode 79: Niching Down with Hugo E. Gomez
07/09/2024
The Mission Driven Business Podcast Episode 79: Niching Down with Hugo E. Gomez
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: Abogados NOW: , , , , , Doctores NOW: , , Gente NOW: , , , , Brian Thompson Financial: , , Follow Brian Thompson Online: , , , , 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.
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The Mission Driven Business Podcast Episode 78: Debunking Overnight Success with John Driscoll
06/25/2024
The Mission Driven Business Podcast Episode 78: Debunking Overnight Success with John Driscoll
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 by Jim Collins by Tom Brady by Dan Martell John Driscoll: , Naked Development: , , , Brian Thompson Financial: , , Follow Brian Thompson Online: , , , , 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.
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The Mission Driven Business Podcast Episode 77: Master Your Mid-Year Business Review In 3 Easy Steps
06/11/2024
The Mission Driven Business Podcast Episode 77: Master Your Mid-Year Business Review In 3 Easy Steps
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: , , Follow Brian Thompson Online: , , , , 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.
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The Mission Driven Business Podcast Episode 76: Finding Your Golden Threads with Elizabeth Jetton
05/28/2024
The Mission Driven Business Podcast Episode 76: Finding Your Golden Threads with Elizabeth Jetton
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 by Eric Reis Follow Elizabeth Jetton Online: Brian Thompson Financial: , , Follow Brian Thompson Online: , , , , 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.
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The Mission Driven Business Podcast Episode 75: Building A Vision-Driven Business with Cara Bedford
05/14/2024
The Mission Driven Business Podcast Episode 75: Building A Vision-Driven Business with Cara Bedford
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 by Gay Hendricks Cara Bedford: Infinite Marketing: , Brian Thompson Financial: , , Follow Brian Thompson Online: , , , , 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.
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The Mission Driven Business Podcast Episode 74: Using Data To Drive Diversity with Ken Janssens
04/23/2024
The Mission Driven Business Podcast Episode 74: Using Data To Drive Diversity with Ken Janssens
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 Ken Janssens: Windō: , Brian Thompson Financial: , , Follow Brian Thompson Online: , , , , 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.
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The Mission Driven Business Podcast Episode 73: Tech, Ethics, and Empowerment with Amanda Wilson
04/09/2024
The Mission Driven Business Podcast Episode 73: Tech, Ethics, and Empowerment with Amanda Wilson
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 Amanda Wilson: #open: , , , , , Brian Thompson Financial: , , Follow Brian Thompson Online: , , , , 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.
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The Mission Driven Business Podcast Episode 72: Crafting A Legacy Of Leadership with Amanda Bauer-Frisch
03/26/2024
The Mission Driven Business Podcast Episode 72: Crafting A Legacy Of Leadership with Amanda Bauer-Frisch
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 by Gino Wickman and Tom Bouwer Amanda Bauer-Frisch: Small Legacies: , , , , Navy Paddles: , , , Brian Thompson Financial: , , Follow Brian Thompson Online: , , , , 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.
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The Mission Driven Business Podcast Episode 71: Driving A Heart-Led Business with Brian Moak
03/12/2024
The Mission Driven Business Podcast Episode 71: Driving A Heart-Led Business with Brian Moak
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: , , , , HEART Certified Auto Care: Shack Shine: , , , Brian Thompson Financial: , , Follow Brian Thompson Online: , , , , 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.
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The Mission Driven Business Podcast Episode 70: How To Create Powerful Mission, Vision, and Values Statements
02/13/2024
The Mission Driven Business Podcast Episode 70: How To Create Powerful Mission, Vision, and Values Statements
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 Brian Thompson Financial: , , Follow Brian Online: , , , , 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.
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The Mission Driven Business Podcast Episode 69: Building A Business For Financial Independence with LaSean Smith
01/09/2024
The Mission Driven Business Podcast Episode 69: Building A Business For Financial Independence with LaSean Smith
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 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 () by Todd Henry Follow LaSean Smith: , , , Brian Thompson Financial: , , Follow Brian Online: , , , , 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.
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The Mission Driven Business Podcast Episode 68: Start 2024 With A Clean Slate With This Year-End Checklist
12/26/2023
The Mission Driven Business Podcast Episode 68: Start 2024 With A Clean Slate With This Year-End Checklist
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 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 to make the most out of your charitable giving. 6. Pump up your 529 account More than 30 states 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: Questions for charitable giving: Brian Thompson Financial: , , Follow Brian Online: , , , , 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.
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The Mission Driven Business Podcast Episode 67: Empowering Inclusive Entrepreneurship with Ebony Janelle
12/12/2023
The Mission Driven Business Podcast Episode 67: Empowering Inclusive Entrepreneurship with Ebony Janelle
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 Ebony: , Brian Thompson Financial: , , Follow Brian Online: , , , , 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.
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The Mission Driven Business Podcast Episode 66: Creating Your Personal Brand with Isaac Saldana
11/28/2023
The Mission Driven Business Podcast Episode 66: Creating Your Personal Brand with Isaac Saldana
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: , , Memo: , , , , SendGrid: , , Brian Thompson Financial: , , Follow Brian Online: , , , , 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.
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The Mission Driven Business Podcast Episode 65: Cultivating Courage with Elliot Greenberger
11/14/2023
The Mission Driven Business Podcast Episode 65: Cultivating Courage with Elliot Greenberger
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: , Elliot’s and the Brian Thompson Financial: , , Follow Brian Online: , , , , 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.
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The Mission Driven Business Podcast Episode 64: Creating An Inclusive Clothing Company with Spider Perry
10/24/2023
The Mission Driven Business Podcast Episode 64: Creating An Inclusive Clothing Company with Spider Perry
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 Spider: , , NerdyKeppie: , , , Brian Thompson Financial: , , Follow Brian Online: , , , , 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.
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The Mission Driven Business Podcast Episode 63: Disrupting the Status Quo with Miki Agrawal
10/10/2023
The Mission Driven Business Podcast Episode 63: Disrupting the Status Quo with Miki Agrawal
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: , , , Books: , Tushy: , , , , , Thinx: , , , , Wild: , , Brian Thompson Financial: , , Follow Brian Online: , , , , 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.
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The Mission Driven Business Podcast Episode 62: 7 Lessons From 7 Years In Business
09/26/2023
The Mission Driven Business Podcast Episode 62: 7 Lessons From 7 Years In Business
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 Brian Thompson Financial: , , Follow Brian Online: , , , , 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.
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The Mission Driven Business Podcast Episode 61: Owning Your Legacy with Jori Davis
09/12/2023
The Mission Driven Business Podcast Episode 61: Owning Your Legacy with Jori Davis
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: , , , , Jori’s Social Media: , , , , Follow Brian Online: , , , , 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.
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The Mission Driven Business Podcast Episode 60: From Rejections To Raising $169 Million with Neha Sampat
08/22/2023
The Mission Driven Business Podcast Episode 60: From Rejections To Raising $169 Million with Neha Sampat
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: , , , , , Neha’s Social Media: , Brian’s Social Media: , , 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.
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The Mission Driven Business Podcast Episode 59: Creating The Job You Want with Sarah Kendrick
08/08/2023
The Mission Driven Business Podcast Episode 59: Creating The Job You Want with Sarah Kendrick
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: , , Sarah’s Social Media: Brian’s Social Media: , , 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.
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The Mission Driven Business Podcast Episode 58: Outworking Your Imposter Syndrome with Jesmond Riggins
07/25/2023
The Mission Driven Business Podcast Episode 58: Outworking Your Imposter Syndrome with Jesmond Riggins
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: Brian’s Social Media: , , 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.
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The Mission Driven Business Podcast Episode 57: Going from Startup to Shark Tank with Krish Himmatramka
07/11/2023
The Mission Driven Business Podcast Episode 57: Going from Startup to Shark Tank with Krish Himmatramka
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 Do Amore: , , , , Krish’s Social Media: , , Brian’s Social Media: , , 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.
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The Mission Driven Business Podcast Episode 56: Creating an Inclusive, Profitable Tech Company with Paul Pastor
06/27/2023
The Mission Driven Business Podcast Episode 56: Creating an Inclusive, Profitable Tech Company with Paul Pastor
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: , , Paul’s Social Media: Brian’s Social Media: , , 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.
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