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.

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. /episode/index/show/missiondrivenbusiness/id/27932157

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. /episode/index/show/missiondrivenbusiness/id/27932127

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. /episode/index/show/missiondrivenbusiness/id/27816468

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. /episode/index/show/missiondrivenbusiness/id/27684462

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. /episode/index/show/missiondrivenbusiness/id/27558924

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. /episode/index/show/missiondrivenbusiness/id/27430893

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. /episode/index/show/missiondrivenbusiness/id/27279222

The Mission Driven Business Podcast Episode 55: Demystifying the 1040 Tax Form 06/13/2023

The Mission Driven Business Podcast Episode 55: Demystifying the 1040 Tax Form Now that we’re past the tax deadline of April 18, you may be tempted to throw your tax return into a drawer or folder and not think about your taxable income or deductions until next year. But now is the best time to look over what you filed and think ahead. Brian walks listeners through the 1040 tax form, so you can catch mistakes before it’s too late and start planning for next tax year. Episode Highlights Part 1: Personal information This is the place to make an excellent first impression. Missing your name, address, and social security number will get you rejected immediately. Make sure your filing status and dependents are correct. The definitions generally focus on your status as of the last day of the last year, and if multiple options apply, pick the one that’s best for you. This section of the 1040 tax form also has two checkboxes. The first asks if you’d like to contribute $3 of your tax money to the presidential election campaign fund. The second asks about digital assets, such as cryptocurrency, and it’s important to not skip. Part 2: Gross income Gross income is pretty much anything and everything you’ve earned. Just some examples listed in include earnings from fees, commissions, fringe benefits, business gains and dealings, property interest, rent, royalties, dividends, alimony, annuities, and pensions. Importantly, gross income doesn’t just include cash. For example, exchanging legal services or dental services is also part of your gross income. Part 3: Above-the-line deductions Once you have your gross income, it's time to make some adjustments, deductions, and allowances to figure out the final amount you owe the government. Figuring out your taxable income can be complicated -- after all, the tax code is 74,000 pages long. Use the income documents you receive, such as W-2s or NEC-1099s, and any tax software to guide you. Reading the form details can also be surprisingly helpful, and the IRS provides a guidebook called . In the tax world, there are two types of deductions: above-the-line deductions that reduce your total income and below-the-line deductions that reduce your taxable income. There are a lot of adjustments you can make, so take time to read through and figure out which ones apply to you. Most people can access the above-the-line adjustments if they have a qualifying expense. You can find a list of your adjustments on Part 2 of your , the same document you use to identify additional income sources. Part 4: Below-the-line deductions Your gross income minus the above-the-line deductions becomes your adjusted gross income (AGI). Now it’s time to look at the below-the-line deductions to get to the final taxable income figure. Take a look at the standard and itemized deductions. The standard deduction is the standard amount you can subtract from your AGI based on your filing status. Alternatively, you can deduct itemized deductions if the total adds up to more than the standard deduction. Itemized deductions appear on your Schedule A and include medical and dental expenses, interest paid on your mortgage or mortgage insurance, gifts to charity, casualty and theft losses, certain taxes, and more. If you’re a business owner, the qualified business income deduction allows the owners of sole proprietorships, partnerships, S-corporations, and some trusts and estates to deduct up to 20% of their qualified business income (QBI). Part 5: Other taxes Once you’ve subtracted your below-the-line deductions from your AGI, you have your taxable income. From your taxable income, the IRS uses its tax tables to determine how much tax you need to pay on your income. The 1040 also has a line for other taxes. Several additional taxes that may need to be paid, such as the alternative minimum tax, which is an alternative form of taxation that applies to some taxpayers. Part 6: Credits and payments The last way to reduce your tax involves taking tax credits. While a deduction reduces your taxable income, a tax credit has the advantage of deducing your tax liability dollar-for-dollar. Also, some tax credits are refundable, so even if your credit exceeds your tax liability, you get the excess back. Credits include the foreign tax credit, the child and dependent care credit, education credits, retirement sayings credits, adoption credits, alternative motor vehicle credits, and residential energy credits. The form provides more information about the qualifications and restrictions of credits. Once you have your total tax, whether you get a refund from the government or owe tax money depends on payments made throughout the year through withholding from an employer and estimated tax payments. Resources + Links 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. /episode/index/show/missiondrivenbusiness/id/27133560

Building A Business From Bootstrap To $1 Million with Yong-Soo Chung 05/09/2023

Building A Business From Bootstrap To $1 Million with Yong-Soo Chung Brian chats with Yong-Soo Chung, a serial entrepreneur who founded three e-commerce companies in the span of seven years. With his latest venture, the podcast First Class Founders, Yong-Soo is on a mission to impact entrepreneurs by sharing his lessons on building sustainable businesses from bootstrap to earning more than $1 million in annual revenue. On the episode, Yong-Soo shares his three pillars for a successful business and fulfilling life. He also discusses the importance of listening to your intuition and taking advantage of the opportunities that come your way. Episode Highlights Mission-driven businesses do more than make money. Yong-Soo defines a mission-driven business as one that has an intention or purpose beyond making money. Whether it’s helping a community or donating a percentage of profits to a cause, mission-driven businesses do activities for a bigger purpose. "The way I like to put it is when you're living, money is like oxygen, so you need money to survive,” Yong-Soo explained. “But it's not like you're living your life to breathe, right? That's the kind of way that I like to look at it." Root yourself in a city that supports your growth. Before becoming a serial entrepreneur, Yong-Soo worked in finance in New York City. Following his intuition, Yong-Soo decided to take his life in a new direction by moving to San Francisco and pursuing his own business. “What I was doing didn’t feel like something that would fulfill me 5 or 10 years down the line,” Yong-Soo said. “I knew that it was like a bandage that just needed to be ripped off, and I just needed to essentially start over in a new area.” The move was difficult but allowed him to meet people with similar goals and discover opportunities he would have never known existed. His personal values and vision for the future were key in deciding which city to live in and which opportunities to pursue. “New York City is obviously a fantastic city for opportunities, but it didn’t serve what I wanted to do 5 to 10 years down the line,” Yong-Soo said “Being rooted in an area that you want to compound yourself in all areas of your life is really the key.” Three steps to live your best life. Yong-Soo lists three simple but impactful actions to live your best life: Focus on what you can control. Focus on what you do have. Do not dwell on the past. “The chances of an app succeeding in a big way was very small, but it’s more about the learning process and the lessons you’re going to learn along the way,” Song-Yoon said. “That’s where the gems and the valuable lessons come from.” Resources + Links First Class Founders: , Spotted by Humphrey: , Urban EDC: , , , , , Growth Jet: , Yong-Soo’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. /episode/index/show/missiondrivenbusiness/id/26785914

Finding Your Focus with Tuesday Brooks 04/25/2023

Finding Your Focus with Tuesday Brooks Brian chats with Tuesday P. Brooks, a business owner, educator, trusted tax and accounting advisor, and U.S. veteran. Her company, AJOY, champions profitability for women-led micro and small businesses. On the episode, Tuesday shares the power of being open to suggestions and how following where you’re led can lead to some incredible outcomes. She also breaks down how prioritizing profitability can help entrepreneurs better support their mission and create impact. Episode Highlights Revenue is a primary focus for mission-driven businesses. Tuesday describes a mission-driven business as one in which the people running it understand that revenue and sales have to be a key focus. If you’re running a business with a good cause that doesn’t make any money, then you’re essentially volunteering. “The only way you can support your mission is if you have the resources to do it,” Tuesday said. “And resources mean money.” The need for revenue to support a mission is particularly impactful for Tuesday as her company AJOY teaches financial fluency to business owners. The company specializes in helping womxn-led businesses achieve profitability through three tiers of support: bookkeeping, cash management, and tax strategy. “If they're employing all of these things, they have no choice to but to be profitable,” she said. You can’t grow if nobody knows what you do. Before AJOY existed as a financial management firm, Tuesday used the brand name to provide a wide variety of business services to clients. The problem was that the company didn’t grow because nobody quite knew what she did. “If during that time you were to ask 10 people, ‘What does Tuesday do?,’ you would have gotten 10 different answers because I was capable of doing a lot of things,” she said. Then, in 2009, she decided to focus on accounting and tax for small businesses. Once she claimed her niche, the business started to grow because people became very aware of her services and did not come to her for anything else. “I have not wavered from what we do, and how we do it has only gotten better,” she said. “People started to understand they could rely on us.” Follow where you’re led. Before leaning into running a financial management firm for womxn-led businesses, Tuesday had a winding career path. She got her Master’s in Education based on a friend's suggestion and her Business Degree in Media Management because her Mom saw a flier for a program. She also discovered her niche because her mentor and business coach suggested she go to a boot camp. Her experiences have led her to espouse the power of being able to follow. “Everybody talks about leadership, but there’s also power in being open to suggestions and doing things,” she said. “It led to so many wonderful experiences that brought me to where I am now, and it’s how we’re able to support our business because I tapped into so many industries.” Resources + Links AJOY: , , , , , Tuesday’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. /episode/index/show/missiondrivenbusiness/id/26641989

An Expert Guide To Understanding The 1120-S Tax Form 04/11/2023

An Expert Guide To Understanding The 1120-S Tax Form It’s tax season crunch time. In this episode, Brian will walk you through the S-Corporation income tax return to help you better understand what you’re filing and hopefully catch mistakes before it’s too late. He provides a section-by-section analysis of Form 1120-S and highlights key areas that business owners and tax professionals make mistakes. Episode Highlights Part 1: Heading, Income, Deductions, Tax and Payments Most of this information is drawn from your business’s Profit and Loss Statement. Here’s a breakdown of what’s on the first page: Calendar year: The very top of the form asks for the calendar year. If the corporation has a calendar year-end, leave this blank. If a fiscal year or short year put in the appropriate dates. Address: Underneath the calendar year, the form asks for a name and address. Use the name set forth in the charter or other legal documents, such as your Employer Identification Number (EIN) letter. Item A: Located to the left of the address, Item A asks for your S election effective date. You should have a letter from the IRS (CP 261) with your S-Corp starting date. This date should stay the same every year. Item B: Your business activity code. This code shows the IRS exactly what you do. Item C: Item C only applies if you have assets of $10 million or more. Most of the time, Item C will not be checked. Item D: Put your EIN in Item D. Make sure to verify it’s correct before you file your form. Item E: Your date of incorporation should match the articles of incorporation. This date may or may not be the same date as your S-election. Like the S-election date, the date of incorporation won’t change. Item F: Total assets at the end of the year. Item G: If the corporation is electing to be an S-Corp beginning with the current filing tax year, check the appropriate box. If the S-Corp did not already file the S-Election, attach Form 2553 with the return. Item H: These boxes should be self-explanatory. Check the boxes that apply. Item I: Enter the number of shareholders in the firm (e.g. yourself and your partners). Item J: Most of the time, Item J will not be checked. If you believe that one of the Item J items applies, follow up with your tax accountant. Income: Report gross revenue your business has earned for the year and any additional income or interest income that you may have incurred. Only report trade or business income. Do not list rental income, portfolio income, or tax exempt income (those go on your Schedule K). Expenses: Report all deductions on your Profit and Loss statement. Pay special attention to the following lines: Line 7: Compensation of officers should have something on it. S-Corporations must pay shareholder/employee reasonable compensation for services rendered, and failing to put reasonable compensation could lead to an IRS audit. Also included on this line are fringe benefits, including employer contributions to health plans and group term life insurance, for shareholders/employees owning more than 2% of the corporation stock. If your S-Corp has total receipts of $500,000 or more, you’ll need to attach Form 1125-E to explain what was paid to each officer. Line 8: Salary and wages paid to employees (other than officers) of the corporation. Line 17: An S-Corporation can deduct contributions made for its employees under a qualified pension, profit sharing, annuity, SEP plan, Simple plan, or any other retirement deferred compensation plan. This includes shareholders/employees owning more than 2% of the corporation stock. Line 18: Employee fringe benefits provided to officers and employees owning less than 2% go on this line, such as health insurance, disability insurance, and educational assistance. Line 19: Line 19 includes any other deductions. There should be an attached statement, and it should match your profit and loss. The numbers should be close to your Profit and Loss statement. Taxes and payments: In general, an S-Corporation does not pay taxes at the corporate level, so this section will be blank. Signature: It’s important to sign the return only after verifying all of the information, including the following sections. Part 2: Schedule B This section is mostly self-explanatory questions. Make sure to read and understand each question. Below are two lines to pay special attention to: Box 1: This easy-to-miss box can change your entire return if you’re not careful, since it’s where you select whether you’re a cash or accrual basis taxpayer. Once you choose an accounting method, you generally cannot change without approval from the IRS. Box 2: Here is where you explain what you do. Part B is an either/or question, so state whether you sell products or services. Also, if you hire contractors, say yes to question 14 -- and hopefully you got out your 1099 forms by January 31. Part 3: Schedules K and K-1 Schedule K reports the pro rata share items in total for the Corporation. Schedule K-1, which you receive in your personal name, reports the percentage of pro rata share items allocable to each shareholder. Lines 1-17 on Schedule K correspond to Boxes 1-17 on Schedule K-1. Most items on Schedules K and K-1 are self-explanatory and come from other parts of the return. Part 4: Schedule L This is where many taxpayers make a mistake. Schedule L matches your business’ balance sheet and should agree with your books and records. If it doesn’t, find out why before you file. The first two columns match what your accounts were at the beginning of the year and should match what the accounts were at the end of last year. If this is your first year filing an 1120-S return, these two columns should be blank. The second two columns are for what the accounts had on December 31 of the previous year and will carry over to next year’s return. Some of the most common assets on Schedule L are: Line 1: Write the amount of cash in your bank account on the last day of the year. Line 7: Loans to shareholders are loans from the corporation to the shareholder. Keep in mind, these loans need to be documented and should have a repayment schedule and interest rate. Line 10a: Buildings and other depreciable assets are fixed assets that the business owns that have been depreciated, such as real estate, furniture, or machinery Some of the most common liabilities on Schedule L are: Line 18: Other current liabilities are expenses incurred at the end of the year but not paid until January of the next year. Current expenses often include wages, state taxes, federal taxes, and payroll taxes payable at the end of the year. Line 19: Loans from shareholders are loans from the shareholder to the corporation. As with the other loans, these loans should be documented and include a repayment schedule and interest rate. Line 22: The par value or stated value of the capital stock issued by the corporation. This amount stays the same each year unless the S-Corporation issues additional stock after incorporation. The corporate charter or minutes should identify the stock. Line 23: Enter the beginning and ending balances of additional paid-in capital. This includes the amount contributed to the S-Corp by shareholders for which the corporation did not issue stock or amounts contributed in excess of the stated or par value. Line 24: This section is especially tricky. You should base the retained earnings on the S-Corporation’s books and records. Most of the time, retained earnings should match the Accumulated Adjustments Account (AAA), other adjustments account (OAA), and previously taxed income (PTI) balances on Schedule M-2. Line 27: This line represents the total liability and shareholders equity. This line must match line 15. If you answered “yes” to question 11 on Schedule B that your total receipts were less than $250,000 and total assets were less than $250,000, then you aren’t required to file a Schedule L. However, it may be beneficial to file Schedule L anyway because it will be crucial for future balance sheets. Part 5: Schedules M-1 and M-2 Schedule M-1 helps explain discrepancies between the books and your tax return. This section should explain any differences you notice. Some common items reported on Schedule M-2 include: Meal expenses (100% on books, 50% on taxes) Entertainment (100% on books, 0% on taxes) Life insurance premium expense (100% on books, 0% on taxes) Certain fines and penalties (100% on books, 0% on taxes) Political contributions (100% on books, 0% on taxes) Book depreciation expense (100% on books, 0% on taxes) Tax depreciation expense (%0 on books, 100% on taxes) Tax-exempt income (100% on books, %0 on taxes) Schedule M-2 tracks the income and losses and separately states items that the shareholder should report on their tax return. Resources + Links 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. /episode/index/show/missiondrivenbusiness/id/26500329

Staying Focused And Authentic with Tristan Schukraft 03/28/2023

Staying Focused And Authentic with Tristan Schukraft Brian chats with Tristan Schukraft, president and CEO of MISTR, a telehealth platform that offers discrete access to medication that can help prevent HIV. On the episode, Tristan shares how he started MISTR to help his friends, which led to a business fueled by passion. He also discusses the importance of knowing your market, staying true to your mission, and questioning how to make the status quo better. Episode Highlights Mission-driven businesses make a positive impact on communities. Like other guests on the podcast, Tristan defines a mission-driven business as one that has a higher purpose and makes a positive impact on the world. But he goes one step further by saying mission-driven businesses even more specifically make a positive impact on the communities they’re designed to serve. “The mission of any business is like the guiding North star,” Tristan said. “All business decisions that are made all circle back to the mission. It’s really important for entrepreneurs to understand what the mission is and stay focused on that.” For MISTR, that mission is to help increase access and adherence to Pre-Exposure Prophylaxis (PrEP), a once-daily medicine that helps prevent HIV. While PrEP is “a huge change in the fight against HIV,” the number of people using it to prevent new HIV infections was limited. Tristan created MISTR to try and help. “It was not necessarily a business at first, but more that I wanted to help my friends get on PreEP and help eliminate HIV infections,” Tristan said. “When you’re focused on making money, it doesn’t work out. And when you’re so passionate about what you’re doing, everything kind of comes together.” Know your audience. To be a successful entrepreneur, you not only need to be passionate about your work and your mission but you also have to know the audience you’re serving. For instance, Tristan was invited to join the HIV Commission in Los Angeles, which was made up of passionate people who lived through the AIDS crisis. But to get more young people to use and adhere to PreP, the commission’s plan involved calling people and using data that was years out of date. “I quickly realized if you want adherence and access to increase, you have to move this online,” Tristan said. “Who are you trying to target? Young people. Young people don’t answer the phone. Young people don’t have voicemail.” Stay focused to find success. Tristan is full of energy and ideas, and he’s always looking for opportunities. So his brother gave him advice that has stuck with him: To be really successful, you have to stay focused. Tristan applied his brother’s advice to launch his first successful company and still uses it to focus on his business initiatives today. “You can’t be everything to everyone,” Tristan said. “You have to really understand your market and stay true to your market.” Staying focused is also something that Tristan tells the marketing team of MISTR. The company speaks to its target community in a non-medical and very sex-positive way, which resonates with its customers. ‘You’re going to offend some people, but that's okay, right?” Tristan said. “If you’re trying to please everybody, then you lose your authenticity.” Resources + Links Tristan’s Social Media: , Mistr: , , , 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. /episode/index/show/missiondrivenbusiness/id/26363001

Building A Bold Business with Ciara Stockeland 03/14/2023

Building A Bold Business with Ciara Stockeland Brian chats with Ciara Stockeland, a serial entrepreneur who has owned and operated businesses since she was a teenager. On the episode, Ciara shares her best tips as an inventory and cash flow expert that can help all types of entrepreneurs build better businesses. She also opens up about the lessons she learned the hard way after she built a seven-figure retail business that she felt trapped in. Episode Highlights Mission-driven businesses are bold. Ciara defines a mission-driven business as one that takes initiative in the world. It also allows the people behind it to live intentionally, be bold, and be intentional. “A mission-driven business really has a strong purpose behind every action and thought,” Ciara said. Follow your gifts and talents. Ciara started her first business when she was just a teenager, eventually growing her skillset to grow a retail franchise business and later a subscription box for retailers. Through the subscription box business, Ciara met many inventory-based business owners who had a lot of questions that she could answer. Initially, she was reluctant to coach other business owners, but realizing that it was her gift motivated her to become a coach and consultant. “There’s a lot of different reasons that we fight what we’re called to do,” Ciara said. “But when we realize and give in and be intentional with our gifts and talents, it just leads to so much more joy and contentment, which produces revenue, funnily enough, because we’re not struggling anymore trying to create something that everyone else demands of us.” Know your numbers. Entrepreneurs and businesses must know their numbers and understand what those numbers mean. If you run an inventory-based business, Ciara recommends learning your numbers for sales, cost of goods, gross margin, expenses, and net profit. “You need to understand what each of those mean and how they work together,” she said. “Once you understand that, you can make really good decisions, build a good foundation, and grow or not grow.” Don’t be the smart person in the room. Ciara advises surrounding yourself with people who are smarter than you. While you may be a little uncomfortable or nervous, you’ll grow from experiences that are just a little bit away from what you typically know or do. “When you’re in a storm in your life or your business, you’ll have really good people that you can go to,” Ciara said. “If you’re the smartest person in the room, you’re going to be in a lot of trouble.” You always have options. Sometimes, running a business can feel like you’re at the extremes of having to go all in on something or quit something. If you’re feeling overwhelmed, Ciara wants you to remember that you always have options and try and simplify what you have to do by taking one thing out at a time. “Get to the root of what the opportunity is,” she said. “In your business life, it’ll help to be able to look at the big picture and not be overwhelmed but to drill down.” Resources + Links Ciara’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. /episode/index/show/missiondrivenbusiness/id/26221071

Inspiring A Movement of Kindness with Matthew Hoffman 02/28/2023

Inspiring A Movement of Kindness with Matthew Hoffman Brian chats with Matthew Hoffman, the founder of You Are Beautiful, a Chicago-based company that uses art to provide kindness, compassion, and community when it’s needed most. On the episode, Matthew shared how he became an accidental entrepreneur and some of the hard lessons he’s learned as a business owner and artist. He also digs deep into using feedback to grow and refine your business. Episode Highlights Mission-driven businesses have a message. When Matthew started making his signature You Are Beautiful stickers that would eventually become a business, he had a clear message that he wanted to share with the world. He thinks the same kind of purposeful messaging separates mission-driven businesses from the rest. “It’s all about having a clear mission or message and trying to share that with the world,” Matthew said. You can be an “accidental” entrepreneur. Some people start a business with the desire to be an entrepreneur. But other entrepreneurs, like Matthew, don’t originally dream of running their own businesses. In Matthew’s case, growing demand from his community was the catalyst to take his sticker business online and for profit. “I say I am sort of an accidental business owner because for the first years, the stickers were absolutely free, then people were begging me to let them buy them,” Matthew said. “I finally began to offer them for sale on the website … and that began growing the community even bigger.” Treat customers and employees well. One tip that Matthew shared throughout the podcast is the importance of treating people the way you want to be treated. Recognizing that he can’t build a business alone, Matthew tries to cultivate a family-style company culture that is fun, drama-free, and supportive. He also prioritizes the customer experience with dedicated customer service and an online review system. “To find those people that support you and help fill you up is critical,” he said. Grow from your mistakes. While Matthew always strove to overdeliver through his business, his track record hasn’t been perfect. After his stickers appeared on Oprah’s Super Soul Sunday program, You Are Beautiful got so many orders that he couldn’t fulfill them all and his payment system didn’t allow him to reach customers with updates. That experience led him to overhaul his approach to e-commerce in order to deliver the premium service he wanted to give customers. “I didn’t want to disappoint or upset, and I always want to overdeliver,” Matthew said. “That allowed me to set up a really successful and rigorous system.” Resources + Links You Are Beautiful: , , Matthew’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. /episode/index/show/missiondrivenbusiness/id/26072673

Finding Your Calling In Business with Adam Markowitz 02/14/2023

Finding Your Calling In Business with Adam Markowitz Brian chats with Adam Markowitz, the owner and operator of people-centric tax firm Luminary Tax Advisors. On the episode, Adam opens up about how he decided to lean into his calling to take over his father’s tax advisory firm and the hurdles he faced to buy the business. He also shares a treasure trove of tips to prepare for the upcoming tax season. Episode Highlights Mission-driven businesses have pillars to support the mission. When Adam took over his father’s company, he rebooted the business, which included coming up with a new name, Luminary Tax Advisors, and a new mission statement, navigating the tax code to shed light on your personal, professional, and financial goals. Equally important to the mission statement are the three pillars that Adam created to support how the business operates internally and outwardly: humanity, accessibility, and humility. “It’s not just about what you stand for outwardly, but what you stand for inwardly that’s really important,” Adam said. Overcome imposter syndrome with confidence. Though accounting runs in the family, Adam did his best to avoid the family business, from skipping business and finance classes in college to pursuing a career as a sports writer after graduation. Even when he eventually did join his father’s company, Adam experienced imposter syndrome. Only after an expert came to Adam for his opinion on a tax law did he realize that he was better at his job than he had first imagined. “Don’t have imposter syndrome,” Adam told the business owners listening to the podcast. “Own it. Be it. That’s not to say there’s not somebody out there better than you. But, my God, if somebody’s paying you for what you’re doing, you must be pretty darn good at it.” Keep learning and ask questions. Adam encourages entrepreneurs to pay attention to the world around them to learn and gain inspiration for their business -- and that learning-oriented mindset can also come in handy at tax time. He recommends that his business owner clients ask or write down their money questions as soon as they think about them (or else they'll forget to ask at tax time). “There is not a good tax preparer on the planet that does not want you to ask questions of them because that’s how we do our jobs better,” Adam said. ”We need to learn, we need to listen, and we need to better ourselves on a daily basis.” Resources + Links Luminary Tax Advisors: , Adam’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. /episode/index/show/missiondrivenbusiness/id/25923135

Diversifying The Financial Services Industry with Choir 01/24/2023

Diversifying The Financial Services Industry with Choir Brian chats with Sonya Dreizler and Liv Gagnon, the co-founders of Choir, a business dedicated to lifting the voices of people of color, women, and non-binary professionals in industries historically represented by white men. Sonya and Liv share why they started with a focus on the financial services industry. They also discuss how they’ve adapted to meet the needs of their customers while staying true to their company’s mission. Episode Highlights Mission-driven businesses look inward and outward. Like other guests on the podcast, Liv defines a mission-driven business as one that balances doing good with making a financial impact for those involved with the business. Sonya expanded on that definition by noting that mission-driven businesses can also apply their mission within the company itself. At Choir, that means not only helping other companies diversify people speaking at conferences and in the media but also hiring internal professionals and contractors from diverse backgrounds. “What’s the mission you’re accomplishing with the business, and what are you doing inside of the business as well?” Sonya asked. “The financial impact is going to go back to people who have been underpaid, underserved,” Liv added. Being aware of a problem is powerful. Part of Choir’s mission is to use data to make organizers aware of how conferences lack diversity. A recent analysis by the company showed that men of color, in particular, are lacking in the financial services conference circuit. It’s a data point that may be surprising but is a good starting point for change. “Just knowing and understanding the challenge makes next year a lot easier to increase representation — not just for representation’s sake but to make it a more interesting event and draw more people,” Sonya said. Successful businesses adapt. Liv and Sonya set out to connect professionals from underrepresented backgrounds with conference circuits and media. But how they’re achieving that aim has already changed a few times based on client needs. For instance, the platform they had initially wanted to build, Voices, got pushed back to launch the Choir certification first. They also iterated their pricing structure for Choir based on client feedback. “You become so much more emotionally tied to your ideas and your business model, so it is a challenge every time you have to pivot because you’ve put so much heart into it,” Liv said. “People have a lot of opinions about what we’re doing,” Sonya added. “We have changed things because of people’s suggestions and made what we offer better, and we’ve also looked at feedback and said, ‘It doesn’t fit with our mission.’” Resources + Links Choir: , , , , Sony’s Social Media: , , , Liv’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. /episode/index/show/missiondrivenbusiness/id/25703310

Numbers For The New Year 01/10/2023

Numbers For The New Year Brian kicks off 2023 with tactical tips to start the new year. Now that you’re hopefully relaxed and ready for a new year, Brian digs into the numbers to give you some targets to aim for over the next few months. He covers revenue, retirement, health savings accounts, and more. Episode Highlights Look for new revenue figures. Because of inflation, many revenue and tax figures have increased quite a bit in 2023, meaning you can make more money and still pay less in total tax. For example, in 2023 single filers with a taxable income of $95,376 - $182,100 will have their last dollar taxed at 24%. Last year, that same tax bracket ended at $170,050. Don’t forget the QBI deductions. If you’re a business owner, don’t forget about the Qualified Business Income (QBI) deduction. QBI allows pass-through entities like partnerships and S-Corps to take a 20% deduction on their business income, saving some businesses thousands of dollars. Importantly, you lose the QBI deduction if you exceed certain income thresholds. For instance, the QBI deduction begins to phase out at $182,100 in taxable income and goes away after $232,1000 in taxable income. Use retirement accounts to shelter income from taxes. Maximizing contributions to retirement accounts is one strategy to avoid taxes and save money for your future self. Here are some things to know about common retirement plans: 401(k)s and Solo 401(k)s: Employees can contribute up to $22,5000 plus an additional $7,5000 in catch-up contributions if you are 50 or older. Employers contribute another $43,500. SEPs: You can contribute 25% of your net self-employment earnings or $66,000 -- whichever is less. SIMPLE IRAs: Employees can contribute up to $15,500 with a catch-up contribution of $3,500 if you are 50 or older. Traditional IRA or Roth IRA: You can contribute up to $6,500 with a catch-up contribution of $1,000. Importantly, Roth IRAs have income range phase-outs, starting at $138,000 for single filers and $218,000 for married filers. Consider opening an HSA. A Health Savings Account (HSA) is one of Brian’s favorite savings vehicles and one of your few options to save money on taxes up until April of the following year. An HSA offers triple tax savings: The contributions are tax-deductible. The money grows tax-free in your account. Withdrawals are tax-free if the money is used to pay qualified medical expenses. For 2023, you can contribute up to $3,850 for eligible individual plans and $7,750 for eligible family plans. You can also open and contribute to an HSA if you’re self-employed. Resources + Links 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. /episode/index/show/missiondrivenbusiness/id/25552470

Your Year-End Checklist 12/13/2022

Your Year-End Checklist Can you believe it’s already the end of the year? Now is the time to celebrate with friends and family, reflect on the past 12 months, and plan for the new year. To help you out, Brian created a checklist you can use to review 2022 and start 2023 with a clean state. The checklist includes business and personal to-do items as well as links to resources sure to help you out. Business Checklist 1. Review your goals. The end of the year is the perfect time to review the goals you made at the beginning of 2022 and set new ones for 2023. Ask yourself: How did I do this year? What did I accomplish that I’m proud of? What could I have done better? 2. Update your cash flow. If you’re using the , look at your buckets and see if one looks too full or too sparse, then adjust your allocations accordingly. Remember to not make any adjustments of more than 3% per quarter. 3. Review your profit and loss. At this point in the year, you should have a good sense of your gross business income. If you have a little extra profit this year, look at ways to shelter some of that income so you’re not paying unnecessary income or self-employment tax. 4. Find your tax return. December may seem a little early to think about taxes, but while you have some downtime, it can be worthwhile to organize and prepare for tax season. Finding your tax return will also help you out in your year-end review. 5. Max out your retirement savings. If you’re a business owner and need to shelter some profit, retirement accounts like a Solo 401(k) or SEP IRA are great resources. 6. Defer income and incur expenses. The end-of-the-year is an excellent time to defer income until 2023 or incur business expenses that you know you’ll have at the beginning of next year. This is an easy way to reduce your tax liability as long as the expenses are ordinary, helpful, and necessary. 7. Consider out-of-the-box expenses. When considering expenses, don’t forget some out-of-the-box expenses, such as employee benefits, cell phone reimbursement, educational assistance, or dependent care assistance. You can also expense up to $25 per client for gifts as well as expenses for a holiday party for your staff. 8. Update your asset list. Did you buy new assets in 2022? Review your list of assets associated with your business and make sure it’s up-to-date before the new year. You can also consider what equipment you no longer need and what you can acquire if you’re looking to reduce your bottom line. 9. Review your business structure. When you evaluate your business structure and qualified business income (QBI) deduction, don’t forget to consider setting up a Solo 401(k) before the deadline of December 31. 10. Don’t forget pandemic programs. We’re coming to the end of the government pandemic benefits for 2020 and 2021, so don’t forget to review whether you can receive any benefits from programs like the PPP and ERC. Personal Checklist 1. Review your goals. Review where you succeeded and where you fell short. Use that information to decide what changes you can make in 2023. 2. Update your budget. The end of the year gives you a solid endpoint to assess whether you matched the goal you set at the outset of 2022. It’s also a great time to create a . 3. Create a holiday spending bucket. Consider how much you want to spend this holiday season. Create a separate bucket just for the holidays and stop spending when the money's gone. You'll thank yourself when January comes and you don’t have a huge credit card bill. 4. Spend the benefits you’ll lose. Whether it’s vacation days, a medical flexible spending account, or a dependent care flexible spending account, some workplace benefits don’t roll over to 2023. Take stock of your remaining benefits and use them to your advantage before January 1. 5. Make charitable contributions. December 31 is the last day your donations can go on your 2022 tax return. If giving to charity is part of your spending plan, to make the most of your charitable giving. 6. Pump up your 529. The tax deductions for your 529 will have to be made by December 31 for this tax year. Your that allows you to deduct your contributions. 7. Max out your 401(k). If your spouse is a W-2 employee, they have until December 31 to contribute to a 401(k) plan for this tax year. However, they have until April to make contributions to a traditional IRA, Roth IRA, and HSA. 8. Find your tax return. Tax season is just around the corner. Preparing now can save you mental energy in 2023. You can also review your tax return to assess whether something like a Roth conversion makes sense for you. 9. Review your will and trust. At the end of the year, you’re likely to reflect on the year and all of the changes that have happened. Now is a great time to make sure your estate plan reflects those changes and that your needs match your current situation. 10. Review your insurance documents. Your insurance documents should cover your current life situation. Review the following policies to make sure they meet your needs: Life insurance Disability insurance Renters or homeowners insurance Health insurance Resources + Links “How To Get Control Of Your Spending Without Tracking Every Penny,” “How To Make The Most Out Of Your Charitable Giving,” “How Much is you State’s 529 Tax Deduction Really Worth?” 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. /episode/index/show/missiondrivenbusiness/id/25308870

Scaling With The Right Clients with Christopher Dale 11/29/2022

Scaling With The Right Clients with Christopher Dale Brian chats with Christopher Dale, CFP, the founder of Life After Grief Financial planning. Through his practice, Chris helps clients in grief navigate financial matters by providing objective, impartial, and confidential financial advice. On the episode, Chris shares how his own life experiences, including the loss of a parent and a child, served as a catalyst for him narrowing in on the niche of his business. He also shares his strategies and tactics for keeping the business impactful and profitable as it grows. Episode Highlights A mission-driven business is a life passion. Chris has a very specific definition of a mission-driven business: “I describe it as a life passion turned into a career where you never feel like you’re working.” That definition certainly rings true for Chris, who started his financial planning firm to step away from his stressful corporate job and focus on his family. It also allows him to use his own life experiences to help others navigate death and illness. “I had all of this grief life experience, and then you couple this with the financial experience, and I’m uniquely suited to help somebody that is exactly like me,” Chris said. Owning a niche can lead to unexpected opportunities. Chris knew he had found his perfect niche when he couldn’t find any other companies that provided financial expertise to clients experiencing grief. But while marketing his niche to clients, he also connected with financial advisers aspiring to learn more, which led to opportunities he didn’t imagine at the start. “It evolved into me making an online training course, and the feedback that I got from it was wonderful,” Chris said. Grow with the right clients. At this point in his career, Chris doesn’t have to grow his business that fast. He’s instead prioritizing picking the right clients for his skills and services than picking clients he’ll have to stop serving in the future. By being picky with clients, Chris can have a unique relationship with each person. “When I look at my client base, there’s not one individual that I would like to shed,” Chris said. “That’s a pretty good feeling.” Even though Chris is holding capacity at the moment, he’s still laying the foundation to grow his business in the future by nurturing the marketing for his services. However, as a business owner, he appreciates that he doesn’t have to pick between growing his business and spending time with his family. “If I have to choose between something to do with my boys or my wife or bringing in new clients, I am going to absolutely choose to impact my family,” Chris said. Resources + Links Chris’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. /episode/index/show/missiondrivenbusiness/id/25157631

When Pivoting Is Hard with Aimee Kandrac 11/08/2022

When Pivoting Is Hard with Aimee Kandrac Brian chats with Aimee Kandrac, the co-founder and CEO of WhatFriendsDo and the first female CEO in the state of Indiana to close a $500,000 funding round. The WhatFriendsDo platform offers a simple way to create organized, actionable support for families experiencing a crisis, and Aimee’s work is instrumental for bringing communities together during times of hardship. On the episode, Aimee shares how a friend’s terminal cancer diagnosis at age 25 was the catalyst to create WhatFriendsDo. She also opens up about her struggle to raise venture funding as a female entrepreneur in the Midwest and how the business has pivoted to reach the right clients and stay profitable. Episode Highlights Most entrepreneurs run mission-driven businesses. Aimee says that most entrepreneurs qualify as owners of mission-driven businesses because entrepreneurs wouldn’t have the passion and energy to build a business if they didn’t feel like they were fulfilling a personal mission. For Aimee, that mission is to connect and help people, which is a central tenet of WhatFriendsDo. “I feel really lucky because the mission that I’m fulfilling fits really nicely with the passion that I have for helping other people and connecting other people,” Aimee said. Pivoting can be tough but necessary. When WhatFriendsDo started, it was a B2C business in which the customers were the same as the end-users: families in the midst of a life-changing event. However, about five years ago, the company pivoted to stay profitable, shifting to a B2B model in which the company licenses its program to organizations with the same end-users. The change was hard for Aimee. “Businesses have different needs, want different ROI expectations than my end users, and I still struggle with it sometimes because I’m just so passionable about the end user,” she said. The pivot came with the added challenge of identifying industries that not only could benefit from the WhatFriendsDo platform but also understood the technology behind it. While WhatFriendsDo is still refining its niche, the company is able to do value-based sales pricing better than before the change. “We started out in healthcare and sold to hospital systems, so hospital systems have the opportunity to white label an app for their patients,” Aimee said. “This is a way for a hospital or healthcare provider to extend their reach beyond the doctor’s office, beyond the hospital walls.” Get out there and try it. Aimee knows first-hand the glass ceiling she faced when raising funds to build WhatFriendsDo. In 2016, she became the first female CEO in her home state of Indiana to close a half-million-dollar venture funding round. In at least one case, she was the first woman to pitch a venture capital group. We still have a long way to go, and Aimee cited statistics that female founders and people of color are still getting less than 7% of venture funding. Which is all the more reason for Mission Driven Business podcast listeners to take charge and start their own businesses. “Get out there and try it,” Aimee said. “If it fails, then fix it or now you know not to do it. But it’s better to go do it than to regret having not tried.” Resources + Links Aimee Kandrac: , , , WhatFriendsDo: , , , , 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. /episode/index/show/missiondrivenbusiness/id/24939519

Creating The Products You Want with Anjali Jariwala 10/25/2022

Creating The Products You Want with Anjali Jariwala Brian chats with Anjali Jariwala, CPA, CFP, an experienced investment manager and founder of FIT Advisors, a financial planning firm serving physicians and business owners. Anjali shares her newest passion project, Why We Eat with Our Hands, a children’s book that describes the rich beauty of Indian culture. On the episode, Anjali highlights how the lessons she learned building her business have helped her to navigate the book writing process. She also shares what she wished she knew before starting her book and how the idea started as a gift for her daughter Nyla. Episode Highlights Mission-driven businesses make an impact on your well-being. Anjali says a mission-driven business is one in which the primary goal is to have a bigger impact, either through the work the company is doing or through the work of the individuals behind the company. Anjali’s company FIT Advisors provided her with the resources to write Why We Eat With Our Hands, helping her to create something different and have an impact. “FIT Advisors gave me surplus to be able to really fund this project and to fund it in a way in which I didn’t have to cut corners because I had the resources available to do so,” Anjali said. “That to me was such an eye opener because I can’t believe FIT me helped me in turning this passion into a reality.” Build the right support team. Through her work at FIT Advisors, Anjali deftly creates financial plans and puts a winning team into place. She used the same approach to writing a children's book, which was critical because she didn’t have any prior experience in publishing. To create her winning team, Anjali found a group of professionals and consultants who “just got it” and could provide her with valuable advice as someone new to the industry. She also valued the input of her daughter Nyla, who was the inspiration for the project. “It really stemmed from trying to build Nyla’s inclusive bookshelf and wanting her to have books that she could not only see herself in but also challenged preconceived notions,” Anjali said. “And I was really just coming up short on books that featured South Asian children, also written by South Asian authors.” Don’t undersell your work. Because Why We Eat With Our Hands is a true passion project for Anjali, she didn’t think about a pricing plan or the break-even point. Even so, she needed to set a selling price for her book. Her team gave her a recommended range but advised she didn’t undersell herself since women authors tend to underprice their books compared to men. “I want to make sure we’re charging appropriately for the work that we’re doing because we do good work,” Anjali said. “We shouldn’t sell ourselves short with how we price our services.” Anjali ended up pricing her book on the high end of the range. Why We Eat With Our Hands debuted on September 27, becoming a bestseller on Amazon New Releases and breaking one of her distributor’s records for first-day sales. Resources + Links by Anjali Jariwala (author) and Shelley Seguinot (illustrator) Anjali’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. /episode/index/show/missiondrivenbusiness/id/24791961

Charging What You’re Worth with Liz Szporn 10/11/2022

Charging What You’re Worth with Liz Szporn Brian chats with Liz Szporn, an accomplished executive and entrepreneur and current Profit First Professionals Homebase Guide. Through her work with Profit First Professionals, Liz helps to eradicate entrepreneurial poverty by coaching members to build more profitable businesses for themselves and their clients. On the episode, Liz opens up about her successes and struggles with founding a professional development organization for educators. She also digs deep into some of the strategies and tactics she shares with her clients for building a successful, profitable business, including the magic of value pricing. Episode Highlights Mission-driven businesses make the world better. Mission-driven businesses make their slice of the world better in everything they do, according to Liz. At Profit First Professionals, that mission is to eradicate entrepreneurial poverty. “Our decisions are based on this mission,” Liz said. “Our interactions are based on this mission. Our partnerships, opportunities, technology … is to make sure we’re hitting that mission.” The mission of Profit First Professionals hits home for Liz, who knows entrepreneurial poverty firsthand. She and a few friends started a business but all the money they made went right back into operations. Then, the business went under during the COVID-19 pandemic. Although the experience was difficult, it has made Liz a more empathetic coach. “I read the book and immediately was like ‘I get this,’” Liz said. “‘I get this because I lived it.’” Mission-driven businesses require clarity. In the Profit First model, every dollar has a specific job, and a mission or vision provides clarity on how to assign those dollars. One of the tools Liz uses to get clarity is a profit assessment, which involves reviewing a profit and loss statement to clarify how much a business made last year and analyze how to best divvy up those dollars going forward. “This is where having a Brian Thompson to work with is so important because you provide clarity very early on,” Liz said. “Whether you’re helping them get clarity of what they actually want out of their business, or what is actually happening in their business currently.” Earn what you’re worth with value pricing. Liz has yet to meet a client who charges what they’re worth from the start. Value pricing is an alternative to hourly billing that helps entrepreneurs choose their fees. It takes into account what income they want to make, what they want to do, and which clients they want to serve. “You start to see based on your total revenue and clients how much your average client is paying you,” Liz said. “Then we start playing with numbers.” Ultimately, value pricing allows business owners to set different levels of pricing so that they can focus on what they enjoy and what they’re good at. It also provides validation that the entrepreneur is providing a valuable service. “As soon as you stop saying I have to do this for $12 an hour, it’s so fun,” Liz said.” Resources + Links by Mike Michalowicz Liz’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. /episode/index/show/missiondrivenbusiness/id/24649722

Making Complex Ideas Simple with Carl Richards 09/27/2022

Making Complex Ideas Simple with Carl Richards Brian chats with Carl Richards, CFP and creator of the Sketch Guy column in the New York Times. Carl shares how he became an accidental artist by using a Sharpie to help a client understand a complex idea with a simple sketch. He also tells how he landed his famous column by saying yes to an opportunity and figuring out the rest later. On the episode, you’ll hear Carl’s driving concept of groundlessness and why he believes profit equals permission for entrepreneurs. He also shares the importance of more people doing “their thing” in the world -- and how he’s following suit by doing more of what he loves. Episode Highlights Mission-driven businesses forcibly insert opinions. For Carl, a mission-driven business goes beyond making widgets for the sake of making widgets. Mission-driven businesses are tools to forcibly insert opinions into the world -- a metaphor he heard from someone else years ago and latched onto. “What I’m interested in is how I can use the business as a tool to forcibly insert an opinion into the world, and I think that another word for that opinion could be mission,” he said. Profit equals permission. Beyond thinking of businesses as opinions, Carl also likes to think of them as art projects, in which businesses can be used to influence what exists in the world. In his case, Carl is always looking for his next art project, and he’s recently realized that his prime goal in business is to get permission to do the next project. And that permission shows up on an income statement as profit. “All I want is enough profit to do the next art project,” Carl said. “That’s the goal. The goal of the current project is to earn permission to do the next.” Aim for groundlessness. Carl’s business operates using a set of principles called the code, one of which is called groundlessness. He named the concept after hearing Buddhist teacher Pema Chödrön describe trying to tie up all the loose ends but still the ground is shifting. “I’m only interested in questions I don’t know the answers to,” Carl said. “I’m only interested in the path that there is no path. Because if not, it’s not me.” For Carl, the concept of groundlessness has come to mean that if he does have ground beneath his feet, it’s not the kind of work he should be doing. Instead, he’s interested in what he calls the most intimate form of risk. “You’re literally saying to someone, ‘Here’s a piece of me. Judge it through your dollars,’” Carl said. “That’s a very intimate form of risk, and to me, it’s the only form of risk I’m interested in because it means we’re doing the thing we were put here to do.” Get clear about what you love to do. Carl’s unique and zest-filled approach to business means he has no plan to retire -- at least in the conventional sense. He plans to keep working, while being more diligent in the projects he takes on and delegating or deleting everything that he doesn't love. His approach to “retirement” came a few years ago when his teenage son asked what things he would stop doing when he retired. When Carl listed a few things, his son then asked if he would be more or less successful if he stopped doing those things today. The answer was yes. “He goes, ‘I don’t mean to be silly here, but why are you still doing those things today?’” Carl recounted. “So I’ve been on this kick of asking how I can get more and more clear about what I want to do.” Resources + Links Carl’s weekly Carl’s Books: and by Pema Chödrön Carl’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. /episode/index/show/missiondrivenbusiness/id/24500082

Starting Your Business The Right Way 09/13/2022

Starting Your Business The Right Way In this special episode, host Brian Thompson shares how to build a proper foundation for your business to ensure it can support long-standing success. He outlines eight essential tasks to check off when starting a company that can help minimize risk and give you a solid foundation. Episode Highlights Starting a business can be daunting and setting up a solid foundation to grow from is critical for future success. Here are eight first steps to start your business on solid ground. Step 1: Pick your company name. As new parents know, picking a name isn’t as easy as it may sound. A business name can ultimately help -- or hinder -- your success. A good business name not only communicates who you are and what you do but also drives branding and marketing efforts. When thinking of business names, it helps to clarify your vision and purpose, know your ideal clients, and how you’ll add value. Creating a one-page business plan can also help you think clearly. “Remember that a name doesn’t have to be perfect. You can change it as you need to.” Step 2: Pick a business structure. Your business structure is the legal framework of the company you’re building. Common small business organizational structures include limited liability companies (LLC), partnerships, and S corporations. The type of business structure you choose will impact numerous aspects of your business, from the paperwork you need to file to how you pay taxes. “While taxes shouldn’t be the only concern when picking a business structure, you’ll want to consult with a tax professional to make sure you’re making the best choice for your situation.” Step 3: Register your business. Once you have a business name and structure, it’s time to register your business. In most states, you can register with the Secretary of State’s office. However, if you want to protect your name on a national level, consider registering with the United States Patent and Trademark Office. Also, don’t forget to make sure your company can be found on the web! Before registering, check website domain registrars like GoDaddy and Google Domains to ensure your domain is still available. Step 4: Apply for your Employer Identification Number. Similar to a Social Security number, your Employer Identification Number (EIN) is a federal tax number used to identify your business. You can use it to get a business license, open bank accounts, obtain credit lines, and pay taxes. Technically, you don’t need an EIN unless you have employees or plan to form a partnership, LLC, or corporation. But even if you don’t need an EIN, it doesn’t hurt to have one. It can keep your personal Social Security number private. “You can apply online in just a couple of minutes and reduce the chance of identity theft.” Step 5: Get a business license and permits. All sorts of complex rules exist with different licensures. Depending on what type of industry you’re in, a federal, state, or local agency may regulate your business. You’ll likely need a state, county, or city license, and you may need permits or state registrations to do business across state lines. “Make sure to research your state, county, and city regarding regulations for your particular type of business.” Step 6: Open bank accounts and set up a cash flow system. With the regulatory hurdles out of the way, it’s time to look at the operational side of your business. It’s essential to get a business account and set up your cash flow system. Opening separate bank accounts will keep your business and personal assets separate, which is critical for tax and legal purposes. It also establishes your company as a separate entity should you need a loan and allow you to set up merchant accounts for faster payment. Having an account is one thing, but successfully managing your cash flow is another. Mike Michalowicz’s Profit First System is a great way to ensure that your business is profitable, that you’re ready for your quarterly tax bill, and that you’re paying yourself a reasonable wage. Step 7: Get an accounting system. While you’re addressing operations, it’s a great time to set up an accounting system like QuickBooks or Wave. These systems allow you to start tracking your business income and expenses right away. They also help you take advantage of tax deductions. “As a tax attorney, I represented clients who didn’t keep good records before the IRS and it was brutal. It’s much easier to start the habit early.” Step 8: Find the proper insurance. Now that you have a business, you’re going to want to protect it. One way to do that is by getting the appropriate type of insurance. Common types of business insurance include general liability insurance, professional liability insurance, and home-based business insurance. “While your business structure will protect you from personal lawsuits, you’ll want to make sure your business is protected as well.” Resources + Links Articles “.” Eric Ries. “.” Susan Ward, The Balance Small Business. Websites “.” IRS Tools More From Brian “.” Forbes. “” Forbes. “” BT Financial. 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. /episode/index/show/missiondrivenbusiness/id/24356712

Bettering the Lives of Black Transgender Women with Elle Moxley 08/23/2022

Bettering the Lives of Black Transgender Women with Elle Moxley Brian Thompson chats with Elle Moxley, the executive director of the Marsha P. Johnson Institute. The institute seeks to better the lives of Black transgender people through organizing, advocacy, and community. Elle founded the nonprofit institute in response to the murders of transgender women of color. On the episode, Elle shares how the Marsha P. Johnson Institute resulted from her vision for her own life and the wider world. She also discusses the racial tensions following the murder of George Floyd and how she combats exhaustion by pursuing joy daily. Episode Highlights Mission-driven businesses support the collective. Elle defines a mission-driven business as one with an intention of more than just making money as well as a company that supports a collective rather than just an individual. “It is one that is driven towards supporting people with the same rigor and regard as its enterprise endeavors,” Elle said. “Mission-driven businesses really account for the full experience that people are having.” At the Marsha P. Johnson Institute, that mission is to illuminate the root cause of violence against transgender women of color, especially Black transgender women. The mission strongly aligns with Elle’s personal values. “I really wanted to do my part, not only as a Black trans woman, but as a Black person in the world to interpret the reasons why murder takes place in communities that are already so intensely interrogated,” she said. Use your vision to guide your business. Like many entrepreneurs on the podcast, Elle didn’t set out to start a company, nor did she know whether she had the skills and leadership qualities for her current role. But Elle did have a big vision for her life and the world -- a vision that others didn’t always share. Founding the Marsha P. Johnson Institute and her other ventures helped Elle realize that vision. It also helped her to become the best version of herself that she could be. “The only way I could do that was to start my own businesses and to actually be the person behind the vehicle in which my dreams were presented to the world,” Elle said. Combat exhaustion by cultivating joy. Elle’s work can be emotionally exhausting, especially as murderers continue to target Black transgender women and some people attempt to minimize the impact of her work. To keep motivated, Elle looks for joy, which she defines as the opposite of constant frustration and fear. “The joy is something that I never really get exhausted from,” she said. “That’s the real work I aspire to do daily: How can I create more joy for myself and the people that I love?” Resources + Links Marsha P. Johnson Institute: , , , , Forever Free Productions / Elle’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. /episode/index/show/missiondrivenbusiness/id/24139734

Building Wealth for the LGBTQ+ Community with Laura J. LaTourette 08/09/2022

Building Wealth for the LGBTQ+ Community with Laura J. LaTourette Brian Thompson chats with Laura J. LaTourette, CFP, the founder of Family Wealth Management Group. As a self-made entrepreneur, Laura has prioritized building her fee-only financial planning firm while living fully as her authentic self. Her comprehensive planning and wealth management approach demands the same kind of determination, self-reflection, and bold spirit from clients. On the episode, Laura shares strategies she’s used to build her successful, long-standing firm and the lessons she wishes she had learned a little sooner in her entrepreneurial journey. She also discusses why now is the time to build wealth for the LGBTQ+ community and how being vocal and visible can inspire compassion. Episode Highlights Mission-driven businesses come from the heart. Laura defines a mission-driven business as one that comes from your heart and reflects who you are authentically as a person. Although she didn’t define her financial planning firm as a mission-driven business at first, when she came out as a lesbian in 1994, Laura knew she wanted to help people like her. “I worked with women in transition -- women through divorce or being widowed,” Laura said. “Then I also found my LGBTQ community needed help with understanding the language of financial planning, so I just kind of took off from there on an organic basis.” Keep a firm line between advising and therapy. One of the benefits of being an entrepreneurial financial planner is the ability to show up authentically, which helps Laura build trust with clients and form real relationships. Laura is clear that working with her means a long-term commitment. “It’s a long-term relationship,” she said. “It’s not a transactional situation.” Having that type of client relationship requires both Laura and her clients to be vulnerable, and Laura will share part of her story to help her connect with clients. However, she is careful to make sure an appointment does not turn into a therapy session. “If they go so far that it seems like they’re really giving me too much information, I do talk to them about financial therapists,” she said. It’s time to build wealth for the LGBTQ+ community. As a new wave of anti-LGBTQ+ legislation sweeps through the country, stoking fears that marriage equality might be the next right overruled by the Supreme Court, it’s now a priority to create a “rainbow network” that builds wealth and provides financial education for the LGBTQ+ community. “We’ve got trans kids dying, and we’ve got LGBT elders not able to find a safe place to live during their ending days, so we’ve got trouble on both ends,” Laura said. Laura called on the LGBTQ+ community and allies to become visible, vocal advocates on business boards and in places of power. Laura lives this advice by serving as an ambassador in the financial services industry and by sharing her perspective with clients who sometimes find it uncomfortable when she mentions her wife. “The more you make them uncomfortable, at some point, then they start getting comfortable,” Laura said. “They may not be able to advocate for me yet, but I can at least bridge an opening of their heart.” Resources + Links Laura’s financial industry leadership: , Laura’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. /episode/index/show/missiondrivenbusiness/id/24000123

Your 2022 Mid-Year Review 07/26/2022

Your 2022 Mid-Year Review In this special episode, host Brian Thompson shares practical steps for conducting a mid-year review that sets you and your business up to thrive in the second half of the year. You’ll learn how to clean up some of your central tasks to ensure the end of 2022 and the beginning of 2023 are as stress-free as possible. You’ll also hear why Brian advocates for small habits repeated over time and the benefits of taking a mid-year pause. Episode Highlights This year may feel especially stressful for fans of the Mission Driven Business, and one way to find calm in chaos is to focus on what you can control. For small business owners, that can mean tackling some of the big, end-of-the-year tasks now by conducting a mid-year review. “Unfortunately, too many small business owners wait until the end of the year to clean up the different aspects of their business. By that point, it’s a numerous and overwhelming task, so let’s knock out some of these tasks now.” Step 1: Review your successes and challenges. Once you’ve gotten clear on your emotions, it’s time to review your successes and challenges. This is a great time to celebrate your successes, appreciate your progress, and gain insight into what’s working and what areas could use improvement. “Instead of thinking that things need to be perfect, or that you can’t change your mind, pick a direction and take the next right step.” Step 2: Review your business cash flow. Cash flow is the lifeblood of your business, and conquering cash flow takes thought and intentional systems. One good cash flow system is the Profit First system, which leverages entrepreneurs’ natural tendency to make decisions based on their bank account balance. “Using this system allows you to continually monitor how close you are to your targets for revenue and profit, and lets you know in real time whether there’s a problem.” Step 3: Review essential reports. A new step on the mid-year review checklist is to review your essential reports, which include your balance sheet, reconciliation reports, and profit and loss statements: Your balance sheet covers your assets, liabilities, and owner’s equity. Your reconciliation report ensures what’s in your accounting software matches your bank statements. Your profit and loss statement allows you to do a full review of the first half of the year. Step 4: Make tax projections. You’d probably rather not think about taxes, but the mid-way point in a year is an excellent opportunity to review your tax situation. You’ve already made two estimated tax payments and can track where you are and make projections. “If you find that you’re behind on estimated tax payments, you still have the year to catch up, calculate how much you’re short, divide that by the six remaining months, and add that amount to your monthly tax bucket.” Step 5: Analyze your expenses. Now that you’ve reviewed your buckets and profit and loss statements, it’s an excellent time to analyze your expenses. To do this, print your expenses for the last six months and any recurring expenses. Add up all of your costs, multiply that number by 10%, and cut expenses by that number. “Remember that just because you have a tax deduction for expenses, you still lose money if you’re purchasing something you don’t use.” Step 6: Write down your next actions. As you perform your own mid-year review, you’re likely to gain insight into the changes you want or need to make. It’s essential to write these changes down and develop an action plan with the steps you’ll take to accomplish your goals. Try limiting the changes you want to make to two or three goals. “You’re more likely to find success taking little steps each day rather than trying to run several miles simultaneously.” Resources + Links , Behavior Gap / Carl Richards / The Sketch Guy 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. /episode/index/show/missiondrivenbusiness/id/23859660

Unafraid And Unapologetic with Damian Pelliccione 07/12/2022

Unafraid And Unapologetic with Damian Pelliccione Brian Thompson chats with Damian Pelliccione, CEO and co-founder of Revry, a global, LGBTQ-first streaming network with free live TV, movies, series, news, and more. Through Revry, Damian champions diversity and inclusion in the media and entertainment industry. On the episode, Damian shares their journey to becoming a first-time CEO and the corresponding struggles with imposter syndrome. They also highlight the importance of working on yourself and setting good boundaries, and how being your authentic, unapologetic self gives your business the best chance of thriving. Episode Highlights Mission-driven businesses leave a legacy. For Damian, Revry’s mission is to be the driving, positive force in media for queer culture. To meet that mission, Revry creates content reflective of the entire LGBTQ community, which is not homogenous by race, gender, sexual orientation, or language. Revry also lives out its mission by having an incredibly diverse workforce that is reflective of the audience it wants to serve. “We’ve attracted the most diverse, talented team on the planet, and I’m very proud of everyone who works for us,” Damian said. But the mission of Revry goes beyond the workforce and content that it produces today. While Damian is proud of how far the company has come, they envision that Revry will ultimately be part of their legacy. “You realize this is going to be bigger than me; this will live beyond me,” Damian said. “This legacy that hopefully we are building with this business will resonate well beyond my years, and that is the coolest thing I could ever do with my life.” Fail big. Fail fast. When Damian talks to young entrepreneurs, they emphasize the need to fail big and fail fast -- but also to learn from failures. While starting over or starting something new is part of the entrepreneurial process, it’s also important to build resilience. “You may have to scrap the whole thing and start over and try something new, but that’s okay,” Damian said. “The difference is the resilience to never give up, to keep going.” Learning from failure and adapting is part of Damian’s own entrepreneurial journey. Damian believes that their “false starts” before Revry were crucial to getting them to where they are today in both work and life. “Had those not existed for me, had I not had those experiences, had I not taken the time to listen to them and evaluate what went wrong … there’s no way I’d be sitting here talking to you,” they said. Be unafraid and unapologetic in business and life. Damian was clear about their biggest takeaway for entrepreneurs: “Live out loud. Be unapologetic. Be vulnerable. And be unafraid.” One way Damian lives their life in this manner is by dressing to impress themself. One way that they do that is by wearing heels on public stages, panels, and conferences. “There’s something about putting on that shoe that gives me the vote of confidence,” they said. “I feel powerful, and I feel fabulous. That’s the energy that I want to exude when I’m doing something in a public forum.” By not holding back from their true, authentic self, Damian believes they’re permitting others to also live as their authentic selves. But even more, that living authentically has made them even more respected professionally. “Business is evolving to the point where that level of authenticity is going to be such a tenant to company cultures and will hopefully soon be equated in a datapoint to show this is how you really build a brand,” Damian said. “You are the brand.” Resources + Links Revry: , , , , QueerXFest: , , , , Damian’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. /episode/index/show/missiondrivenbusiness/id/23716787

Hot Entrepreneurship Tips with Yana Tallon-Hicks 06/28/2022

Hot Entrepreneurship Tips with Yana Tallon-Hicks Brian Thompson chats with Yana Tallon-Hicks, a pleasure-positive sex therapist, educator, and writer. On the episode, Yana shares her unexpected journey to becoming a relationship therapist and business owner. She also gives tips for using a sliding scale fee model and offers insight into the process of writing her upcoming book, Hot and Unbothered: How to Think About, Talk About, and Have the Sex You Really Want. Episode Highlights Make money in a way that aligns with your values. Yana defines a mission-driven business as one that pays attention to its values and goals so that it can make money in a way that aligns with those values and goals. “It’s a business that pays attention to what their values and goals are every step of the way, to the best of their ability,” she said. “Because at the end of the day, a business needs to make money … and I think that it can still be done with their mission and your values.” Be intentional about structuring your time. Yana’s career spans her incorporated work as a relationship therapist, sex writing, and education projects. Juggling all of these responsibilities requires a lot of balance, and she blocks out time dedicated to specific projects, like writing her new book and general administrative tasks. Yana is also a co-parent, which has prompted her to keep her schedule regimented to ensure she can be fully present for her child when she’s with him. While she felt busy before she had her child, she’s found being an entrepreneur and a parent has helped her unlock a new level of efficiency. “Having a kid really helped me get into much better balance,” Yana said. “I actually think I’m doing more work, more efficiently, and better.” Set clear expectations from the start. Being part of the LGBT+ community, Yana knows that she’ll run into her therapy clients more often than some therapists might, so she lays out ground rules and expectations upfront. For instance, Yana asks current clients not to follow her on social media, and her intake form includes a paragraph that clients may see her while out in public. She is also clear about her use of a sliding scale fee model and has prices listed on her website and intake form. Her clients have been very responsive to the model, and people who can pay the highest amount generally do. “Business owners assume that if you do a sliding scale, people will always pay the bottom of your scale, and that is just not true,” Yana said. “The trick is you really do need to be truly okay with whatever people choose.” Resources + Links Yana’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. /episode/index/show/missiondrivenbusiness/id/23562479

Former Inmate to Business Magnate with Coss Marte 06/14/2022

Former Inmate to Business Magnate with Coss Marte Brian Thompson chats with Coss Marte, a former inmate turned business magnate. Coss is the founder of CONBODY, the first fitness method developed in prison. Through CONBODY and his two other ventures, Coss is fulfilling his mission to aid and uplift the formerly incarcerated community. On the episode, Coss shares how he found his passion for fitness after losing 70 pounds during his incarceration as well as his struggle to start a company as someone in and out of the prison system. He also discusses how his “figure it out and survive” motto has spurred him to create three ventures, including one in the legal cannabis industry. Episode Highlights Mission-driven businesses do good from front to back. Coss defines a mission-driven business as one that doesn’t just say it's doing good upfront -- but also does something good on the back end. “You want to make money and do good as well,” he said. For Coss, the tripartite mission of CONBODY is to destigmatize the formerly incarcerated community, ease their transition back to society, and change the criminal justice system -- all barriers he’s faced as a formerly incarcerated person himself. “I saw the pain I had to go through, and I really didn’t want people who were my friend or my people that were coming out of the system to go through that,” he said. You don’t need a formal business plan. Coss created his business plan for CONBODY while in solitary confinement. He didn’t have a formal mission, list of values, or vision statement. But he did write down the extensive workout he used to get fit while incarcerated and how he could turn that into an opportunity. “I did what I wrote,” Coss said. “I came home and I started doing it in the local park where I grew up, and eventually, one person turned to two, to three, to five, to six, and my mission started evolving.” If you don’t ask, you don’t eat. Coss’s mother always told him: If you don’t ask, you don’t eat. It’s a strategy he took to heart when developing CONBODY. “When I came home, I validated by getting one customer in the street, and just stopping them and talking to them and telling them what I’m doing,” Coss said. “I got a gazillion nos, but fortunately enough, I’ve had a few yeses.” Coss eagerly shares his mother’s advice with fellow entrepreneurs who have smart but unvalidated business plans. That includes Ivy League MBA students who have incredible, technical business ideas but have yet to ask whether anybody wants their products. “You gotta ask,” Coss said. “If you go to the market and nobody wants this shit you just lost a lot of time.” Resources + Links CONBODY: , , , , , Second Chance Studios: , , , , CONBUD: , , the book Coss’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. /episode/index/show/missiondrivenbusiness/id/23421773

Mission Driven Business

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