Episodes

  • The Mission Driven Business Podcast Episode 84: Improving Financial Security for the LGBTQ+ Community with Debt Free Guys David and John Auten-Schneider

    The Mission Driven Business Podcast Episode 84: Improving Financial Security for the LGBTQ+ Community with Debt Free Guys David and John Auten-Schneider
    Sep 24 2024
    Brian Thompson chats with Queer Money podcast hosts and Debt Free Guys founders David and John Auten-Schneider. David and John have more than a decade of experience helping the queer community thrive financially through their podcast, website, and emails. On the episode, they discuss the importance of being intentional with how you choose to grow and engage with your audience. They also open up about some setbacks they’ve experienced as entrepreneurs and tips they’ve learned in their decade-long entrepreneurial journey. Episode Highlights Mission-driven businesses have a purpose beyond profit. David and John both define a mission-driven business as one that is focused on a greater purpose than just making a profit. Whether it’s using the income from the business to contribute to a cause or running the business itself to create an impact, mission-driven entrepreneurs know they are putting in the work for a reason higher than just financial success. “What is the motivation behind getting up and putting in the 16-hour days or 60-hour weeks?” David asked. “Everyone should have the right to be able to achieve financial success and be able to have fulfillment with that, but when you have another mission that is contributing to the reason that you get up and do what you do, that is what makes your business a mission-driven business.” For David and John, the mission of Queer Money is to try and improve the financial security of the LGBTQ+ community. “The stronger we are as individuals, including our financial strength, the stronger we are as a community, and the more time, money, and resources we have to be able to protect and fight for our rights,” John said. Build your audience before your product. Before David and John started their Debt Free Guys brand, they wanted to write a book but were told by agents that they first needed to build an audience. They launched the Debt Free Guys blog as a way to share smart debt management advice while also growing an audience. In doing so, they realized the need for LGBTQ+ voices in the personal finance community, which in turn led to the Queer Money podcast. “‘Build it, and they will come’ only works in the movies,” David said. “You will not survive if you create a product and you don’t have a built-in audience who has a desire and need for it.” Don’t forget to create an email list. In the fast-paced world of modern entrepreneurship, it’s easy to get distracted by new opportunities or social media trends as a way to grow a business. Unfortunately, success on most platforms is determined by the current algorithm and chasing success on every platform is a losing game. “There are so many shiny disco balls to go at,” David said. “Find out what you can do to stay in the center of your world, or your business is going to look like a scribbly mess because you keep chasing after everybody else’s center of the world instead of your own.” David and John recommend focusing on one or two platforms that connect with your mission and your audience. They also tout building a good, old-fashioned email list as a consistent and reliable way to reach your audience. “What has consistently been a great money driver for most folks over the greatest duration has been growing your email list,” John added. “I would suggest that anybody who’s going to go down the virtual business path focus as much energy and attention on growing your email list. That’s your list. You can take that list anywhere.” Resources + Links Queer Money Podcast Episode 11: 4 Keys to Winning the Midlife Career Change Queer Money Podcast Episode 31: 3 Surprises, 3 Ah-has, and an Awesome Money Quote Queer Money Podcast: Website, Instagram, Apple Podcasts, Spotify, YouTube Debt Free Guys: Website, Instagram, Facebook, LinkedIn, X, Pinterest Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.
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    45 mins
  • The Mission Driven Business Podcast Episode 83: Braving Discomfort to Live Your Purpose with Channyn Lynne Parker

    The Mission Driven Business Podcast Episode 83: Braving Discomfort to Live Your Purpose with Channyn Lynne Parker
    Sep 10 2024
    Brian Thompson chats with human rights advocate and Brave Space Alliance CEO Channyn Lynne Parker. Channyn is a public speaker whose accolades include the inaugural Trans100 award, Henrietta Lacks award, and Equality Illinois Freedom Award. As CEO of Brave Space Alliance, Channyn shepherds the first Black-led, trans-led TLGBQ+ center on the south side of Chicago. On the episode, Channyn shares her journey to becoming the CEO of Brave Space Alliance and the significance of finding alignment in life. She also reveals why the nursery rhyme “Row, Row, Row Your Boat” is deeper than you might think. Episode Highlights Mission-driven businesses are laser-focused. According to Channyn, a mission-driven business is focused on what it does best. For Brave Space Alliance, that means meeting the needs of Black TLGBQ+ individuals through the four pillars of dignity: health, housing, food, and identity. “A mission-driven business is one that is laser-focused on what we do well: to provide our constituents the greatest impact in the area of their interests and needs,” Channyn said. “Above all, we give people a safe space to be in -- or a brave space to be in, if you will.” Brave discomfort to live your purpose. When Channyn was tasked with the role of CEO of Brave Space Alliance, she initially felt like the lead of the 1980s film Gloria in which a cantankerous woman gets stuck with a young kid and has to unexpectedly take on the role of the mother. While she described the transition to CEO as “jolting” and “averse,” she has grown to love the job and the responsibility. “I love comfort, and I believe that humans are comfort-seeking machines,” Channyn said. “None of us want to be jarred out of our comfort zones, but the reality is that unless we seek or welcome challenges, we will stagnate, we will atrophy, and we will not live out the thing that we are meant to contribute to the world.” Profit can include time, talent, and treasure. Running a business, even a nonprofit like Brave Space Alliance, requires money. But Channyn reminded listeners that profit can come in non-monetary forms, too. “When I think about the intangibles of profit, it is your stakeholder satisfaction and community impact,” Channyn said. “But also I think about the gifts of time, talent, and treasure, so all of your stakeholders who believe in your mission feel they’re able to contribute to the sustainability of the mission.” Live life gently and authentically. Channyn believes there is a gap in the world that every one of us has been brought here to fill if we can become acutely and unapologetically aware of who we are and what it is we want to be. And if you don’t believe her, just listen to the song “Row, Row, Row Your Boat.” “The deepest song ever is ‘Row, Row, Row Your Boat,’” Channyn said. “Rowing is living, right? The stream is life, and gently means you’re not fighting against who you are. We’re meant to live this vessel gently as we flow down the stream of life.” Resources + Links Brave Space Alliance: Website, Instagram, Facebook, X, TikTok Channyn Lynne Parker: LinkedIn Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.
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    45 mins
  • The Mission Driven Business Podcast Episode 82: Creating a Thriving Private Social Network with Shadé Akande

    The Mission Driven Business Podcast Episode 82: Creating a Thriving Private Social Network with Shadé Akande
    Aug 27 2024

    Brian Thompson chats with Shadé Akande, founder and CEO of ONE X LEAGUE, a private social league for Black and Afro-Latina women executives and founders. With more than 18 years of global HR experience at companies like Google and Walmart, Shadé shares her journey of creating a community during that pandemic that blossomed into ONE X LEAGUE. Tune in to hear how a series of brunches sparked the idea for a business all about building relationships and how the transformative power of feedback made ONE X LEAGUE the social network it is today.

    Episode Highlights Mission-driven businesses prioritize purpose above all else.

    Shadé Akande describes a mission-driven business as one that prioritizes its purpose and values over everything else. The goal is to create a company that produces a long-term positive impact.

    "A mission-driven business prioritizes its purpose and values over everything else,” Shadé said on the episode. “Its goal is to create impact and positive change."

    Community is crucial for overcoming challenges.

    When people could start gathering together again after the pandemic lockdowns, Shadé recognized the need for a space where Black and Afro-Latina women could share their experiences and support each other. She started organizing brunches across the country to foster a sense of belonging and camaraderie. Since then, ONE X LEAGUE has organized numerous events to help members build meaningful connections and navigate workplace challenges.

    "We would share what we're doing,” Shadé said. “We'd support each other and share examples of things we could take away and use in our workplace."

    Kindness is key to building a strong community.

    Shadé stressed the importance of kindness as a core value for ONE X LEAGUE members. To maintain the community's quality and engagement, membership renewals are not automatic. Members must be invited to renew, helping to maintain a supportive and safe environment for all members.

    "Our one value for members is kindness,” she said. “We take that really seriously as we invite people to become members of ONE X LEAGUE, so much so that even renewals are not automatic. You have to be invited to renew."

    Feedback and continuous improvement are essential for growth.

    Regular feedback from members is vital for the continuous improvement of ONE X LEAGUE. Shadé conducts anonymous surveys to gather insights and ensure that the community's offerings remain relevant and impactful. This feedback loop helps in making necessary adjustments and keeps the community aligned with its mission and values.

    "We do regular anonymous surveys, " she said. For instance, in a recent survey, Shadé asked members whether they agreed that they were having great experiences. “All of those who took the survey, 100%, agreed strongly.”

    Resources + Links

    • ONE X LEAGUE: Website, Instagram, LinkedIn, YouTube

    • Shadé Akande: LinkedIn

    • Brian Thompson Financial: Website, Newsletter, Podcast

    • Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes

    About Brian and the Mission Driven Business Podcast

    Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit.

    On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.
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    35 mins
  • The Mission Driven Business Podcast Episode 81: How To Use Instagram to Amplify Your Mission and Engage Your Audience

    The Mission Driven Business Podcast Episode 81: How To Use Instagram to Amplify Your Mission and Engage Your Audience
    Aug 13 2024
    Instagram is more than just a social media platform. It has evolved into a visual storytelling hub where businesses can connect deeply with their audience among the more than 1 billion monthly active users on the platform. On this special episode, Brian delves into the intricacies of marketing on Instagram. Whether you’re just starting out looking to enhance your online presence, this episode will equip you with the knowledge and strategies to leverage Instagram effectively. Episode Highlights Outline your engagement strategy. Instagram provides a unique platform for you to showcase your brand’s story through compelling visuals, videos, and stories, helping you craft narratives that resonate with your audience and strengthen your brand. You can also amplify your impact by utilizing Instagram’s community-building engagement tools, such as polls, Q&A sessions, and live videos. Before you post on Instagram, you should know what you are trying to accomplish. Consider what you are trying to achieve with your marketing, who you are trying to reach, and whether you enjoy using the platform. Create high-quality content. Once you know your “why” for marketing on Instagram, it’s time to post. Your content strategy on Instagram should be diverse and purposeful, reflecting your brand’s mission, vision, and values. Post content that educates, informs, inspires, or entertains through a variety of post types, such as user-generated content, behind-the-scenes content, promotions, educational posts, seasonal posts, events, testimonials, and news. Here are some specifics: Optimize your profile: Your profile picture should be a clear, high-quality image representing your brand. Your bio should be concise and informative, including keywords, a call to action, and a link to your website or latest content. Add visual appeal: Experiment with high-quality photos, engaging videos, informative infographics, and visually appealing product shots. Develop a consistent theme and color palette that aligns with your brand’s aesthetic. Utilize captions and hashtags: Write engaging and informative captions to connect with the audience. Use relevant and trending hashtags to reach a wider audience. Engage your audience. Building meaningful connections with your audience is crucial for sustained growth and advocacy. Here are some ways to do that: Respond to your audience: Promptly engage with comments, direct messages, and mentions to foster a sense of community and customer care. Partner with influencers: Collaborate with influencers or brand advocates whose values align with yours to expand your reach and credibility. Encourage user-generated content: Showcase your authenticity and social proof by encouraging customers to share their experiences with your products and services. Also, know when and how often to post. For stories, post daily. For feed posts and Reels, aim to post three to five times per week. For IGTV, post one to two times per week. Tailor your posting schedule to your specific audience by using Instagram Insights, A/B testing, and considering time zones, especially if you have a global following. Resources + Links Episode 79: Niching Down with Hugo E. Gomez Episode 23: How to Get Different with Mike Michalowicz Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.
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    11 mins
  • The Mission Driven Business Podcast Episode 80: Transforming Lives and AI with Wendy Gonzalez

    The Mission Driven Business Podcast Episode 80: Transforming Lives and AI with Wendy Gonzalez
    Jul 23 2024
    Brian chats with tech trailblazer and Sama CEO Wendy Gonzalez. Sama is a mission-driven Certified B Corp that seeks to raise the standards for both machine learning and global working conditions. The company’s innovative approach to ethically sourcing and training tech talent has lifted more than 68,000 people out of poverty since 2008. On the episode, Wendy dives deep into Sama’s unique for-profit business structure, including reserving a Board of Directors seat for its non-profit on its non-profit roots. She also touts the importance of conviction and self-awareness when building and running a business. Episode Highlights Mission-driven businesses can have more than one mission. Mission-driven businesses can have more than one mission, according to Wendy. For instance, Sama has a “triple bottom line” of bringing long-term value to people living in poverty, to the planet, and to the bottom line. “We were really founded on this premise that talent is distributed equally but opportunity is not,” she said. “We started with the mission first, and the core mission is what we then built a business problem to solve for around.” Hold earnings calls and learnings calls. You’ve probably heard of a company's earnings calls when the executives share updates about the firm’s financial metrics. Sama applies the same concept to its mission by hosting “learning calls,” in which the company provides updates on its impact metrics. “The idea from the very beginning is you have to track with rigor what our impact is,” Wendy said. “It’s no different than how you would track your financials.” If you’re a big company, consider B Corp Certification. Sama is a Certified B Corp, meaning it meets verified, high standards of social and environmental performance, has made a legal commitment to accountability, and transparently shares information. Wendy said the company pursued B Corp status once it transitioned from a non-profit financial structure to a for-profit structure because the B Corp Certification is the best and most recognized accreditation standard for impact-driven companies. “We were big enough that we thought B Corp Certification is going to be important for us, so that nobody believes that our transition in financing means that anything has changed,” she said. One downside to B Corp Certification is that it requires a lot of effort and expenses. If you’re a small company, you may not be able to afford the resources needed to comply with the reporting requirements, but if you’re an established impact-driven company, Wendy recommended looking into B Corp Certification. “If you’re a customer looking for a recognized seal of approval, that’s recognizable,” she said. Fire yourself annually. About once per year, Wendy does a mental exercise in which she fires herself as CEO and evaluates whether she’d rehire herself for the job. The exercise is an opportunity to reflect on the kind of leader her company needs and also where her energy and convictions lie. “If you’re the CEO, you’ve got to be not only the CEO your company needs today, but the one your company needs tomorrow,” Wendy said. Resources + Links Wendy Gonzales: LinkedIn Sama: Website, Instagram, Facebook, LinkedIn, X, YouTube B Corp Certification Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.
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    40 mins
  • The Mission Driven Business Podcast Episode 79: Niching Down with Hugo E. Gomez

    The Mission Driven Business Podcast Episode 79: Niching Down with Hugo E. Gomez
    Jul 9 2024
    Brian chats with entrepreneur and Hispanic marketing leader Hugo E. Gomez. As the founder of HispanicMarketing.com, Hugo helps U.S. businesses connect with the Hispanic market. On the episode, Hugo discusses the importance of niching down for marketing and creating personal branding on social media. He also shares the lessons learned on his journey from an employee to self-employed, including embracing uncertainty and trusting himself to figure things out. Episode Highlights Mission-driven businesses seek win-wins. HispanicMarketing.com is composed of four sub-brands -- Abogados NOW, Doctores NOW, Gene NOW, and SpanishLeads.ai -- that all share a two-fold mission. The first is to help U.S.-based businesses connect with the U.S. Hispanic market, and the second is to ensure the U.S. Hispanic market has access to financial, healthcare, and legal resources. “It’s a win-win for our mission because we’re giving our clients something new, and at the same time providing a lot of goodwill to the community,” Hugo said. Niching down is the path of least resistance. In marketing and entrepreneurship, niching down your market and services is a powerful tool for attracting customers. If you already understand your customers’ industries and challenges, it becomes much easier to get sales acceleration. “I’d seen so many great use cases of niching down that I thought that’s probably the best way to build a company,” Hugo said. “If you tell someone in a sales funnel that you know where they come from and their challenges, it’s so much easier to have a call about the next steps.” Start your business while you have another job. Successful entrepreneurship requires smart risk management strategies, which is why Hugo advocates for aspiring business owners to start a new company while they still have a job. That’s the approach he followed when exploring whether HispanicMarketing.com could be a full-time business. “You can have a job and your own business. That’s probably the safest and most respectful path for your own wellbeing,” Hugo said. “Building something and proving it out at the smallest level is a great proof of concept to see if you’re really interested in running a business.” Don’t forget marketing. When it comes to modern marketing techniques, Hugo is bullish on social videos, such as Instagram and Facebook Reels, because the social media companies do the work of matching your content to people who are interested in watching. He also recommends publicizing employees of companies rather than company pages. “Most people right now don’t want to follow a company page,” he said. They want to follow people who work inside the company. The ones with the personal video brands are going to do the best.” Resources + Links Hugo Gomez: LinkedIn HispanicMarketing.com Abogados NOW: Website, Instagram, Facebook, LinkedIn, YouTube, TikTok Doctores NOW: Website, Instagram, Facebook Gente NOW: Website, Instagram, Facebook, LinkedIn, X SpanishLeads.ai Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.
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    43 mins
  • The Mission Driven Business Podcast Episode 78: Debunking Overnight Success with John Driscoll

    The Mission Driven Business Podcast Episode 78: Debunking Overnight Success with John Driscoll
    Jun 25 2024
    Brian chats with entrepreneur and mobile app pioneer John Driscoll. As the co-founder and CEO of Naked Development, John and his team are rewriting the rules of mobile app development, raising the bar for innovation and creativity. John shares invaluable insights on the courage, patience, and perseverance needed to navigate the unpredictable to succeed in business. He also debunks the myth of overnight success. Episode Highlights Mission-driven businesses pick their fight. John believes you shouldn’t start a business unless you have a mission because having a true mission is like picking a fight. To be successful, companies should have a point of view that influences how they see the world and, as a result, how they connect with their target audience. “Your company, whatever it’s doing, is connected to that point of view,” John said. “You have to point whatever you’re doing at a group of people, and by definition if you’re pointing at a group, you’re not pointing at the rest of them. It’s exclusion on purpose.” Have the courage to niche yourself out. John often uses the expression “niche yourself out” as a way to convey the importance of having an authentic point of view that connects with your target audience. Niching yourself out as a company takes real courage because, by definition, not everyone is going to agree with your decisions. “Whether it’s calling your company Naked, like I did, or something else, you are going to have people who disagree,” John said. “That might even be your family -- it was for me -- and you have to just be okay with it. You have to expect it.” Fire bullets before cannonballs. Many entrepreneurs struggle with when to move out of the research phase and into getting experience. After all, being an entrepreneur is all about managing risk, and while risk can be transferred, it cannot be eliminated, so it’s best to get real-world experience as quickly as you can. “A lot of people think they can curb their risk by doing more research upfront,” John said. “I’m not anti-research, but I am anti-waiting. You don’t get the rewards without the risk.” One strategy to prioritize gaining real-world experience is to fire bullets before cannonballs, an expression that John borrowed from John Collins. The phrase encapsulates trying something small first before you go all in on an idea. “I’ve blown it many times, where I’ve gone in and done the whole thing,” John said. “When you do that, and you get it wrong, whatever mistake you had made is compounded. Normally, if something works small, it’ll work big.” Real success requires patience. A very common mistake that John sees among young founders is impatience. He says many young entrepreneurs have an idea in their head of what success looks like, which is often overnight success. However, he believes overnight success is a myth. “Instagram is probably one of the biggest overnight successes you could mention,” John said. “The founders started Instagram, and a year or two later had a billion dollar exit. That’s incredible, intense growth, but people forget to mention the app, Burbn, that the founders had started before Instagram and completely trashed. Even that example of overnight success still took time.” Resources + Links “Fire Bullets, Then Cannonballs” by Jim Collins The TB12 Method: How to Achieve a Lifetime of Sustained Peak Performance by Tom Brady Buy Back Your Time: Get Unstuck, Reclaim Your Freedom, and Build Your Empire by Dan Martell John Driscoll: Website, LinkedIn Naked Development: Website, Instagram, LinkedIn, YouTube Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.
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    38 mins
  • The Mission Driven Business Podcast Episode 77: Master Your Mid-Year Business Review In 3 Easy Steps

    The Mission Driven Business Podcast Episode 77: Master Your Mid-Year Business Review In 3 Easy Steps
    Jun 11 2024
    On this special episode, Brian dives into the all-important mid-year business review. Whether you’re navigating the early stages of entrepreneurship or deep into running a medium-sized business, the mid-year business review is the perfect opportunity to take stock of your progress so you can stay on track toward your goals. Learn why the mid-year review is essential, what key areas to focus on, and three practical steps to conduct a thorough assessment. Episode Highlights 1. Revisit your mission, vision, and values. Your mission statement is the heartbeat of your business, articulating its core purpose for existing. To evaluate your mission, ask yourself the following questions: Is your mission statement authentic? Does it reflect the values and aspirations that drive your business forward? Is your mission statement still relevant in the current business, landscape, and societal context? Is your mission statement clear and concise, communicating your business’s purpose in a compelling and easily understandable manner? Does your mission statement align with the needs and aspirations of your target audience? Your vision statement paints a compelling picture of where you aspire to be and serves as a beacon of inspiration and guidance for your business journey. To evaluate your vision, ask yourself the following questions: Is your vision bold and ambitious enough to inspire action and innovation? Is your vision adaptable to changing circumstances and evolving dynamics? Does your vision align with your mission and core values? Is it in harmony with the overarching purpose and principles of your business identity and direction? Does your vision inspire excitement, enthusiasm, and commitment among your team members and stakeholders? Your core values are the ethical principles and beliefs that guide your behavior and decision-making as a business owner. To evaluate your values, ask yourself the following questions: Are your core values rooted in honesty, transparency, and integrity? Do your core values promote accountability and responsibility among your team members? Are your core values inclusive and respectful of diversity? Do your core values empower and inspire your team members to unleash their full potential? 2. Conduct a comprehensive financial review. Your business’s financial health is not just about the bottom line -- it’s a reflection of your ability to create value, manage resources efficiently, and sustain growth for the long term. By conducting a mid-year review of your financial performance, you can gain insights into the health of the business, identify areas for improvement, and make informed decisions. To conduct a mid-year financial review, take the following steps: Analyze your revenue streams - Analyzing your revenue streams allows you to identify growth opportunities, optimize your product or service offerings, and prioritize resource allocation effectively. Review your expenses - Conducting a thorough review of your expenses allows you to identify inefficiencies, streamline processes, and optimize cost structures. Examine your cash flow - Managing cash flow effectively is essential for ensuring liquidity, stability, and resilience in the face of economic uncertainty. 3. Evaluate operations. Optimizing workflow, effectively leveraging technology, and nurturing high-performing teams are essential for business innovation and growth. Conducting a mid-year review of your critical systems allows you to identify bottlenecks, inefficiencies, and opportunities to improve in the second half of the year. Below are three key areas to review when assessing your operations: Assess your workflow - Identify bottlenecks, streamline processes, leverage technology, and continuously improve to minimize waste and deliver value to your customers. Review your technology stack - Evaluate current tools, identify new technologies, ensure integration and compatibility with existing systems, and provide training and support to improve collaboration and unlock new opportunities for innovation and growth. Evaluate team performance - Assess the alignment of your team members with business goals, review individuals’ skills and competencies, review resource and support needs, and foster a culture of collaboration and communication to create a culture of excellence. Resources + Links Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners ...
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    21 mins