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Mission Driven Business

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Apr 26, 2022 • 43min

Financial Planning for Sex Workers with Lindsey Swanson

Brian Thompson chats with Lindsey Swanson, a certified financial planner and founder of Stripper Financial Planning. Lindsey started her fee-only financial planning firm after noticing a severe lack of financial advice for workers in adult entertainment. Through her company, she offers tailored advice in a supportive, kind environment. On the episode, Lindsey shares financial challenges that workers in the sex industry face, including restrictions from banking institutions, payment processors, social media companies, and website hosting firms. She also discusses the importance of choosing the right people to seek advice from, and why she’s thinking of changing her company name. Episode Highlights Mission-driven businesses have integrity that others can see. It can be hard for people within an organization to self-diagnose a mission-driven business, according to Lindsey. She believes that others outside of a company may be better at recognizing whether a mission-driven business is truly accomplishing a higher goal. “So many times, there’s a business that alleges they have a mission, but I don’t see any actions coming from that,” Lindsey said. “For me and my own business, it comes down to having a direct line between what I’m trying to accomplish and making a profit.” Seek advice from supportive people. Although Lindsey knew the sex work industry is stigmatized, she was surprised that some people wouldn’t give her good business advice if they didn’t believe in her business’s mission. “One of the things that I realized not early enough is that I can’t ask for advice from people who don’t want the same things as me,” Lindsey said. “I could talk to whoever in marketing or branding or whatnot, and if they don’t think that what I’m doing is worthwhile, they don’t give me good advice.” For instance, some marketers don’t want sex workers to be seen or heard, and Lindsey felt their advice was tainted by a belief that they didn’t actually want her to succeed. Now, Lindsey specifically seeks out advice from people who are supportive of sex workers. “Otherwise, I’m not going to get people who are supporting me,” Lindsey said. “And that sounds obvious if you say it, but I thought anyone could give me good advice because everyone has something they can bring to the table.” Not all industries are treated equally online. One issue Lindsey faces is online censorship of the sex industry. She initially thought marketing and publicity would revolve around SEO and key terms, but she says the reality is more of a nightmare. “A lot of my clients are starting to create their own websites and host them offshore not because it’s illegal but because there’s so much censorship that happens on Squarespace and Wix and Wordpress,” Lindsey said. “I built my site on Squarespace, but I’m anticipating that at some point it’s going to get taken down. … And it’s so much harder for people in the business.” Help your audience find you again and again. Website hosting is only one censorship-related challenge for Lindsey. One of the main words in her business name -- stripper -- gets censored on social media, which prompts the sex industry to use an evolving litany of alternative terms to outsmart the algorithms. While Lindsey is leaning into her company name as she grows her publicity and brand recognition, once she’s successful, she’ll likely have to create a more veiled version of her business so she can stay on the internet. It’s a move she’s learned from her clients. “It’s just amazing how good these individuals are at branding and recreating themselves and having an audience that’s so sticky that they are willing to find them again,” Lindsey said. “I have one client that has put up her TikTok 20 times. … She’s been taken down, and she's recreated that 20 times.” Resources + Links Stripper Financial Planning Lindey’s Social Media: Twitter, LinkedIn, Instagram, Facebook Brian’s Social Media: Twitter, Instagram, Facebook  About Brian and the Mission Driven Business Podcast  Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.
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Apr 12, 2022 • 39min

Starting A New Business with Dr. Samantha Franklin

Brian Thompson chats with Dr. Samantha Franklin, a school counselor, college professor, and founder of Intersection, LLC. Through Intersection, Samantha uses therapy and mediation to help people learn how to set boundaries and advocate for themselves. It's also the first company she's founded. On the episode, Samantha shares the values that led her to start her own mission-driven business and the areas she’s struggling with as a new entrepreneur. She also discusses how she balances working with three different types of clients and the tools she uses to charge what she’s worth. Episode Highlights Mission-driven businesses solve problems. For Samantha, the definition of a mission-driven business is an easy one. It’s a company that comes into being to solve a problem. “Maybe that person knows how to fill that gap in whatever industry it is,” Samantha said. “I’m on a mission. The mission is to solve a problem.” Through Intersection, Samantha helps people who have a hard time advocating for themselves in their business or personal life. She works in three different types of markets: therapy for families, mediation for divorced or divorcing couples, and advocacy for school counselors. “Some people don’t know how to use their voice, and some people just don’t know how to stand up for themselves,” Samantha said. “And so the overriding mission of my company is advocacy.” Charge what you're worth. One of the aspects of entrepreneurship that Samantha struggles with is charging clients appropriately. Part of that comes from her background as a teacher, which required her to work essentially for free at night. In the early days of her business, Samantha also doubted whether she should charge clients for some services she considered easy or straightforward. To learn what to charge, Samantha asked for advice and guidance from people in the consulting and financial realms. Although she’s come a long way, she’s still adjusting how she charges as she takes on new experiences and continues to grow her business. “It’s really figuring out how much jobs are going to cost,” Samantha said. “How much time is taking me away from my family, and deciding what it’s worth.” It’s okay to say no to clients -- even if you’re just starting. Saying no to the wrong clients is a theme that’s come up before on the podcast, and it’s a point echoed by Samantha. Even though her business is new, she emphasized the importance of setting boundaries. “As we build businesses, a lot of times we feel that we should take all the business that comes our way, and that’s not always true,” Samantha said. “Know your boundaries and what you need as a person and for whatever unit you have around you. It’s okay to say no to business. It’s okay to refer out.” Resources + Links Samantha’s Social Media: Twitter, Instagram, Facebook, LinkedIn Brian’s Social Media: Twitter, Instagram, Facebook  About Brian and the Mission Driven Business Podcast  Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.
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Mar 22, 2022 • 40min

Creating Impact As A Socialist Advisor with Values Added Financial

Brian Thompson chats with Zach Teutsch and Ari Weisbard, the managing partners of Values Added Financial. Values Added Financial helps progressives build thoughtful, prosperous, and impactful financial lives. Through their business, Zach and Ari aid clients with balancing their own needs with the work they do in the world. On the episode, Zach and Ari share how running a feminist, LGBTQ-friendly, and antiracist company has helped them to attract more clients than they ever imagined. They also discuss the importance of articulating who you are and why saying no to the wrong clients makes room for the right ones. Episode Highlights Mission-driven businesses don’t just talk the talk. Like other guests on the show, Ari describes a mission-driven business as one that cares about more than just profit. In practice, that means making decisions that balance the interest of the business with those of the broader mission. “For us, at Values Added, we care about our teammates; we care about our clients; and we care about the world,” Ari said. For Zach and Ari the definition of a mission-driven business goes a little deeper because they put their values into practice, too. As Zach explained, that means publicly campaigning for higher taxes and investing in organizations wanting to create a more just system. “If we had a different business, there would be real business consequences that were negative, but because we’re so public about who we are, it means I can say things and not worry,” Zach said. Socialist financial advisors are in demand. Thanks to being unapologetic in his beliefs and actions, Zach has gained a reputation on and offline as a socialist financial advisor. Although the term sounds contradictory, that language has resonated with the right type of clients and has been a boon for business. “There are way more socialists who need a financial advisor than there are socialist financial advisors,” Zach said. “That’s been one of the surprises to me is just how many amazing people need the exact thing we want to provide.” In turn, the focus on wealthy progressives as clients has helped Valued Added Financial have an even greater social impact than he could have initially imagined, Ari said. There is enough space in this niche for other mission-driven entrepreneurs to be successful, although he didn’t fully believe it was possible until it happened, Zach added. “I knew it is true that the more niche you are, the more people are excited,” Zach said. “I knew that in theory, but it was really hard to believe until it happened to us.” Put your values up top. True to its name, Values Added Financial prioritizes and celebrates its company values. Stating those values up top has helped Zach and Ari to not only attract the right clients -- but also to attract better job candidates, too. “By putting a version of those values right at the top of our job application and using language that’s a little bit more colorful and full bodied than the typical Equal Opportunity statement, it really did help to get a very diverse candidate pool applying,” Ari said. “In the same way it helps us get the exact right clients to come to us, it was really helpful to get a really great, strong, diverse candidate pool.” Resources + Links Values Added Financial Zach’s Social Media: Twitter, LinkedIn, Facebook Ari’s Social Media: Twitter, LinkedIn Brian’s Social Media: Twitter, Instagram, Facebook  About Brian and the Mission Driven Business Podcast  Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.
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Mar 8, 2022 • 38min

Breaking the Sex Shop Glass Ceiling with Searah Desaych

Brian Thompson chats with Searah Desaych, the founder of feminist sex shop Early to Bed. For the past 20 years, Early to Bed has operated both as a retail store and as a safe place to explore sexuality. Searah founded the company to create the warm, women-oriented, queer and trans-positive environment she wished existed in the male-dominated sex shop industry. On the episode, Searah shares some of the hurdles she’s faced in her two decades at the helm of Early to Bed. She also discusses how she’s managed her anxieties around running a business and praises the importance of networking and being kind. Episode Highlights Mission-driven businesses sometimes make unprofitable choices. Early to Bed is a for-profit business, but it’s also a mission-driven one, Searah explained. Searah will make a decision most in-line with the mission of the store -- even if it isn’t profitable. In practice, that means Early to Bed holds raffles, donates products, and provides education to benefit the community. “The business is about more than profit,” Searah said. “Sometimes I don’t make a profitable choice. Sometimes, I make the choice that’s best for my employees and for what I want to be in the world rather than making money.” Follow a business plan -- when it makes sense. After dropping out of graduate school, Searah had a business plan she now says had no basis in reality. She quickly learned she had to ditch the plan and be flexible to make the business work. “If I had tried to use that plan to drive the business, I don’t know where I'd be,” Searah said. At the same time, Searah needs to make smart business decisions even if they’re not what she had initially envisioned. For instance, she didn't like the idea of creating an online storefront for her business, but she realized it's a necessity in the modern era.  “I’m an idiot if I’m going to stop people from Texas buying my products,” she said. “So even though that wasn’t part of my mission in the beginning, I decided to do that.” The anxiety is always going to be there. About seven years into her entrepreneurial career, Searah asked a business owner when the worrying about running a business stops. The answer wasn’t what she had hoped for. “She’s like, ‘Oh, honey, never,’” Searah said. “It doesn’t matter how long, you’re always going to have those worries.” Now that she’s 20 years into running Early to Bed, Searah worries less than she used to. But she can confirm that the anxiety never fully subsides. “I go to sleep pretty soundly every night, but it’s always in the back of your head forever,” Searah said. Resources + Links Early to Bed Searah’s Social Media: Twitter, LinkedIn Brian’s Social Media: Twitter, Instagram, Facebook  About Brian and the Mission Driven Business Podcast  Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.
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Feb 22, 2022 • 36min

Reverse Engineering Your Business with Anna N'Jie-Konte

Brian Thompson chats with Anna N'Jie-Konte, founder of fee-only financial planning firm Dare to Dream Financial Planning. Anna believes in empowering entrepreneurs and tailors her business to serve the needs of 30- and 40-something women of color who want to live boldly and make a lasting impact. On the episode, Anna shares why she left corporate America to give other women like her the blueprint for building successful businesses. She also breaks down how she navigates leading a business and a family and why it’s important to reverse engineer your pricing. Episode Highlights A mission-driven business is bigger than you. Anna defines a mission-driven business as one that is bigger than you. That doesn’t mean the business has to be altruistic or charitable in nature, but it does mean the business has to have a purpose or driving force. “That’s really the foundation of what you’re doing,” Anna said. “I find that my clients have something that’s really pushing them to work so hard and reach those next levels of success.” Set your intention first. Anna uses a three-part framework with her clients, and the first step is intentionality. She asks her clients to get intentional about what they want out of their businesses and personal lives, so they know they’re following their joy, having an impact, and not crossing any non-negotiable boundaries. “There are millions of ways to build a successful business and to be successful financially,” Anna said. “There’s no box that everybody’s going to fit in, so we have to figure out what that is first, then get to the technical stuff.” Reverse engineer your pricing. Pricing is a huge hang-up for entrepreneurs, according to Anna. Many business owners don’t set their prices high enough to account for taxes, operating expenses, and a quality personal life. “What I usually do for clients is have them set themselves a salary that accounts for whatever personal goals they have and make sure they have take home pay to match that,” Anna said. “Maybe the profitability is not there on the business side, so we’ll try and work towards that. But I want to start with what they need and what they want to be doing.” One way that business owners undersell themselves is by setting an hourly rate -- especially one that doesn’t fully account for their skillset and business needs. For instance, Anna argues that business owners are actually providing more value if they can do something in one hour when it used to take them three. “Hourly pricing is oftentimes a disservice for folks if they start out that way,” Anna said. “If I need $100 for every hour that I work for me personally, the business needs $40, and profit is another $10. Then you just build the pricing from there.” Resources + Links Anna’s Website Dare To Dream Financial Planning The Financial Powerhouse Podcast Anna’s Social Media: Twitter, Instagram, LinkedIn Brian’s Social Media: Twitter, Instagram, Facebook  About Brian and the Mission Driven Business Podcast  Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.
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Feb 8, 2022 • 32min

Why Podcasts Are Public Relations with Jeremy Ryan Slate

Brian Thompson chats with Jeremy Ryan Slate, founder of the Create Your Own Life Podcast, which studies the highest performers in the world. He specializes in using podcasting and new media to create thought leaders, and his podcast was ranked No. 1 on the iTunes business category and No. 78 on the top 100. On the episode, Jeremy shares his journey from getting a master’s degree in ancient history to becoming a brand expert. The episode is also filled with practical advice for building successful businesses, including how to maximize the link between public relations, marketing, and sales. Episode Highlights Mission-driven businesses ask: What is the impact? Although Jeremy knows businesses must make money, he says mission-driven businesses think more about the impact they can have on their communities and the world.  “What is the impact we’re trying to make?” Jeremy said. “I look at it as a ripple effect. I can only help so many people, but the more people they help -- that’s what impact looks like.”  Getting what you want takes effort. One of the biggest lessons that Jeremy learned as an entrepreneur is the amount of effort it takes to reach success. When Jeremy started creating podcasts, that meant learning new skills and getting good at phone calls. It also meant outworking his competition. “Early on, I realized I may not have the best training; I may not have the most money; I may not have the most opportunities; but I can outwork anybody,” Jeremy said. “So that was the thing I did early on. How can I outwork people until I learn how to build a team?” Podcasts are not marketing -- they’re public relations. One common misconception that Jeremy has brushed up against in his years of podcasting experience is that podcasts are a marketing tool. Instead, he makes a compelling case that podcasts instead fall under the scope of public relations. “Going on a podcast … you’re communicating to people,” he said. “You could be getting 500 sales leads, but if they don’t know you, like you, and trust you, they’re never going to convert.” Jeremy believes so strongly in the value of podcasting as public relations that he and his wife started podcast public relations firm Command Your Brand. Through the company, Jeremy helps entrepreneurs get their message out by appearing as guests on other podcasts. “The media landscape moves so fast,” Jeremy said. “There’s so much content out there. If you do not tell your own story, you’re going to get drowned out; you’re not going to be found.” Resources + Links Jeremy’s Website Command Your Brand The Create Your Own Life Podcast Jeremy’s Social Media: Twitter, Facebook, Instagram, LinkedIn Brian’s Social Media: Twitter, Instagram, Facebook  About Brian and the Mission Driven Business Podcast  Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.
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Jan 25, 2022 • 36min

Bringing Your People With You with Braxton Fleming

Brian Thompson chats with Braxton Fleming, founder and CEO of Stealth Bros & Co. Stealth Bros & Co. provides stylish luxury medical storage products and Dopp kits. Braxton started the company as a solution for the transgender community, but he has since expanded to meet the needs of people with diabetes and undergoing in vitro fertilization treatments. On the episode, Braxton tells how his passion for Stealth Bros and Co.’s mission keeps the company rooted and fuels its growth. He also shares why consistency yields results and explains how he came up with the idea for his company after following his father’s advice to find a void. Episode Highlights Mission-driven businesses are born from your passion. Braxton describes Stealth Bros & Co. as his life’s passion. As a result, he sees his business and its mission to help the transgender community as directly related to who he is as a person. “I am really on a mission,” he said. “I’m on a mission to build a legacy for me and my family. And I feel like my life’s path and my passion for my community has really pushed me to be on this mission.” The simplest ideas will make you rich. Both of Braxton’s parents are entrepreneurs, and his Dad would give him business advice in the car on the way to school. He recalls his Dad saying that the simplest ideas will make him rich. “He would always say that you need to find the void and fill the need,” Braxton said. “That stuck with me for a really long time.” Braxton had his father’s advice in the back of his mind when he was thinking of business ideas to fund his top surgery. He noticed transgender men did not have good options to store all of their injectable medications in a way that was safe and convenient. “This idea really stemmed from the need of transgender men to place their hormone replacement therapy medication somwhere,” he said. “I pretty much ran with that, and I realized that it was more than just a want. It was a really big need within our community.” Bring your people with you. In the years after Braxton first launched his products, he realized that other communities also need discreet and stylish medical storage kits. His products have especially resonated with people in the diabetic and IVF communities. “It’s been a really exciting mission for me to push my own life’s path forward, but help so many other communities that are impacted as well,” he said. Although the product has expanded beyond the female-to-male transgender community, Braxton still keeps the people he founded Stealth Bros & Co. at the heart of his company. He plans to keep his initial mission in mind no matter how big the company gets. “Because at the end of the day, the people that are working for my company will be LGBT, and I will bring my people with me,” he said. “I will make sure no matter how far my business goes, that they understand the foundation of the business.” Resources + Links Stealth Bros & Co.: website, Twitter, Instagram, Facebook Braxton’s Social Media: Instagram Brian’s Social Media: Twitter, Instagram, Facebook  About Brian and the Mission Driven Business Podcast  Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.
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Jan 11, 2022 • 31min

How to Get Different with Mike Michalowicz

Brian Thompson welcomes Mike Michalowicz back on the podcast. Mike is the mastermind behind Profit First Professionals and the author of books for entrepreneurs and small business owners. In episode seven, Mike talked about his Profit First system and his experience growing several multi-million dollar companies. Now Mike is back to talk about his latest book, Get Different: Marketing That Can’t Be Ignored! Mike shares the research and insights he learned when writing the book, and he offers his tips for creating an effective and radically different marketing system. Episode Highlights Small businesses have a responsibility to market. Mike researched the concepts behind Get Different for a decade. In that time, he learned that while small business owners provide products and services that are better than the competition, many are afraid to market themselves. “We have a responsibility to market,” Mike said. “If our prospects can’t find us, they’re going to find something that’s perhaps inferior. That’s their problem, but it’s our fault.” Mike recommends that small business owners speak to their community with integrity and honesty because their voices need to be heard. “We have to step up and become noticed,” he said. Use the DAD framework for effective marketing. Mike created a catchy acronym that gets down to the essence of effective marketing: DAD. The acronym stands for the following: Differentiate -- Reach your community by doing something unexpected Attract -- Create marketing that speaks to your audience Direct -- Give specific, safe, and reasonable instructions “Simply ask, does DAD approve?” Mike said. “It has a little bit of a creep factor, but that helps make it memorable.” Many small business owners already incorporate one or two of the DAD elements into their marketing but not all three. As a result, they think their marketing is a failure. “All three have to be present,” Mike said. “It’s like a checklist.” Launch many marketing experiments but few plans. Marketing plans are important, but many small business owners prematurely go into launching a plan. “We prematurely go into a plan, but we don’t know if it’s going to work,” Mike said. “So the plan is to throw everything against the wall and see what sticks. That is a horrible plan.” Instead, a marketing plan should aim to amplify what already works. Mike recommended running many marketing experiments to figure out what works and what does not. “We should be constantly experimenting, but we should be very selectively and carefully planning,” Mike said. Target 100 prospective clients. No one can serve everybody, Mike said. That means it’s important for small business owners to find their target audience. Mike recommended doing this by identifying the clients who love you the most and finding out where their connection points are. Then, Mike suggested testing marketing with a sample size of at least 100 people in your target community. He chose that number after looking at the work of experts, including probability specialists. “While that may not be a perfect indicator, that will be far more adequate than a random sample of one or two,” Mike said. Resources + Links Episode seven: Being Profit First with Mike Michalowicz Get Different: Marketing That Can’t Be Ignored! More of Mike’s books: Profit First, Clockwork, The Pumpkin Plan, Fix This Next, The Toilet Paper Entrepreneur, Surge Profit First Professionals https://mikemichalowicz.com Mike’s Twitter: https://twitter.com/MikeMichalowicz Brian’s Social Media: Twitter, Instagram, Facebook      About Brian and the Mission Driven Business Podcast  Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.
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Dec 28, 2021 • 16min

My Year in Reflection

It’s almost the New Year, which means it’s the perfect time to reflect on the first year of the Mission Driven Business podcast. In this special Year in Reflection episode, Brian re-lives some of the best moments from the first 21 episodes of the podcast. You'll hear some of the insights, strengths, and hope shared by the diverse podcast guests on their respective episodes. Brian also shares some of his favorite nuggets of wisdom, and he recounts how each guests’ story ties into the larger podcast theme -- that you can make money and serve a purpose. Episode Highlights There is no one definition of mission-driven business. If you’ve listened to the podcast, you know that the first thing Brian asks his guests is to describe what a mission-driven business means to them. That’s because mission-driven businesses are distinct, and everyone has a different answer. One of Brian’s favorite answers came from Phuong Luong, who shared a quote she heard in grad school. “Don’t ask yourself what the world needs,” she said. “Instead, ask yourself what makes you come alive and go do that. Because what the world needs is for more people to come alive.” Regardless of their definition, Brian makes sure listeners know that your business can make money and serve a purpose. It’s a point echoed by many of the guests on the podcast. In the very first episode, Dawn Hancock summarized the principle by saying, “Profit does matter. It just doesn’t have to be the only thing.” But Brian Floriani may have said it most succinctly in episode 18: “No margin. No mission.” Everyone has a different journey. Every entrepreneur on the show has had a different path to their career. Brian highlighted how in episode two, Bill Bynum credited his childhood experiences as fundamental to him later running one of the largest community development financial institutions (CDFIs) in the U.S. Other entrepreneurs had numerous twists on their paths running companies with purpose and profit. In episode 13, attorney Nici Kersey shared how running her own businesses wasn’t something she planned, but came after her company let her go because of a military move. Nothing is perfect. Unforeseen circumstances are a given with entrepreneurial life. In episode 11, Lauren Klafke opened up about how her work and home life adjusted when her business started booming at the same time she was caring for a newborn and overseeing a house remodel. One way to navigate unforeseen circumstances is to know your values. Perhaps the best example yet of letting your values guide you is financial planner River Nice. In episode 20, River shared how their values first guided them to leave the corporate world and try their hand at entrepreneurship, then again when defining their niche. The result is that River's day-to-day work is aligned with their strengths and values. “I’m just so happy on a day-to-day basis,” River said. “Who knew life could be this good? It feels like bragging, but that’s the point, right? The point of this podcast is that life can be this good, and you can do it, too.” Learn from the experts’ experiences. While it’s nice to hear about purpose and values, podcast listeners have most enjoyed learning the strategies and tactics guests rely upon to run their home and work lives. In episode 16, the owners of Columbus Running Company played up the importance of community, while in episode 3, Jacob Padrón praised the merits of asking for help. But Brian particularly appreciated the insights of Nici Kersey on how to let go of perfectionism: watch baseball. “Watching baseball made me really focus more on the fact that you don’t have to be perfect,” Nici said. “These players are the best in the world at being a baseball player, and they mess up all the time, right?” Self-care isn’t selfish. Brian always ends the episode by asking each guest to share anything surprising they’ve learned on their journey. One of the most commented lines ever on the podcast came from Pamela Capalad’s answer to this very question. “Running a business mostly sucks,” she said in episode 5. While running a mission-driven can suck at times, all entrepreneurs on the podcast say the freedom and fulfillment are well worth pushing the uncertainty and overcoming the inevitable obstacles. But the grit needed to do that can be hard to learn, said Mark Suh in episode 21. “That belief in yourself has to be strong enough that you don’t quit,” he said. While the year has been filled with wisdom, Brian’s favorite piece of advice also came from the answer to this last question when Emlen praised the importance of self-care. In episode 10, Emlen explained how incorporating self-care into his regimented schedule has helped him ultimately have a more productive day. “It was the aspect of tracking over time that made me realize, when I do this, I was a better husband, I was a better dad, I was more patient with the kids,” he said. Resources + Links Brian’s Social Media: Twitter, Instagram, Facebook  Episode 1: Socially Conscious Design with Dawn Hancock Episode 2: Advancing Opportunity in the Deep South with Bill Bynum Episode 3: Values-Based Leadership with Jacob Padrón Episode 4: Taking the Entrepreneurship Leap with Phuong Luong Episode 5:  Building Brunch & Budget with Pamela Capalad Episode 6: Eradicating Entrepreneurial Poverty with Ron Saharyan Episode 7: Being Profit First with Mike Michalowicz Episode 9: Launching a Family-Run Business with Chantel Valentene and Brian Mackin Episode 10: Systems and Self-Care with Emlen Miles-Mattingly Episode 11: Setting Boundaries with Lauren Klafke Episode 13: When the Entrepreneur Life Chooses You with Nici Kersey Episode 14: Living Your Passion with George Kinder Episode 15: Equitably Investing in Cannabis with Seke Ballard Episode 16: Running a Successful Retail Business with Columbus Running Company Episode 17: Success on the Second Try with Anna Murphy Episode 18: Social Enterprise for Literacy with Brian Floriani Episode 19: Humane Marketing with Sarah Santacroce Episode 20: Defining Your Niche with River Nice Episode 21: Developing an Entrepreneurial Mindset with Mark Suh About Brian and the Mission Driven Business Podcast  Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.
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Dec 14, 2021 • 31min

Developing an Entrepreneurial Mindset with Mark Suh

Brian chats with Mark Suh, a serial entrepreneur and founder and CEO of Everwell, an Orange County, CA-based wellness clinic. On the episode, Mark shares how a series of health trials led to a wellness journey that transformed his life and sparked his passion for Everwell, his first mission-driven venture.  Mark also opens up about why mindset is the most challenging but essential aspect to develop as an entrepreneur. And he touts the importance of flexibility, a skill he used after opening the doors to Everwell just months into the COVID-19 pandemic. Episode Highlights Mission-driven entrepreneurs never work another day. Although it’s cliche, Mark believes that mission-driven entrepreneurs never have to work another day of their life. That’s because their passion underlies everything they do for the business. “I don’t really feel like I’m coming to work,” Mark said. “Mondays are exciting. Mondays are not a drag.” For Mark, that mission is to help people become the best version of themselves one client at a time. It’s a mission that’s personal to him because when he was in his 30s he went through a series of health challenges, including two back surgeries. He attributed the health trials to sacrificing his health to build prior businesses. “In my 20s and 30s, I thought all you gotta do is sacrifice your body to make ends meet and make money and that’s all that mattered. ... Then I found my passion,” Mark said. “I love being able to help and being able to have the solutions and answers, especially since I’ve lived through it.” Mindset is the hardest part. Mark believes that developing an entrepreneurial mindset is the hardest part of starting your own business and a key reason why more people don’t make that entrepreneurial leap. Being an entrepreneur means having a belief in yourself that is stronger than fear of instability, risk, and uncertainty. “That belief in yourself has to be strong enough so that you don’t quit,” Mark said. “Everything else you can figure out. … But the emotional part, it’s hard to teach. It’s very difficult.” Be able to pivot quickly. Mark advises mission-driven business owners to be fluid and be able to pivot quickly depending on the situation. That’s a skill he has employed after opening his clinic in the early months of the COVID-19 pandemic. “The business right now that we have is not the business that we set out to do,” Mark said. “We’ve had to add different products; we had to push different things; we had to shift our branding a little bit.” It’s also important to balance nimbleness with a long-term vision, Mark said. He’s always projecting where he wants his business to be in a few years and has an exit strategy in mind. “Climates change, and nothing lasts forever,” Mark said. “During the financial crisis … when I saw humongous corporations go under that have been around for decades, I came to the realization that nothing lasts forever, so we’ve got to have an exit strategy.” Resources + Links Everwell’s website Mark’s Instagram Brian’s Social Media: Twitter, Instagram, Facebook  About Brian and the Mission Driven Business Podcast  Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

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