Mission Driven Business Por arte de portada

Mission Driven Business

De: Brian Thompson
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  • Resumen

  • Diverse entrepreneurs share their experiences, strength, and hope to help mission-driven businesses thrive. In a series of intimate conversations, attorney and CFP Brian Thompson and his guests provide practical steps to create businesses with impact and profit.
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Episodios
  • 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 m
  • The Mission Driven Business Podcast Episode 76: Finding Your Golden Threads with Elizabeth Jetton

    The Mission Driven Business Podcast Episode 76: Finding Your Golden Threads with Elizabeth Jetton
    May 28 2024

    Brian chats with financial planner-turned-business coach Elizabeth Jetton, M.Ed., CFP. Elizabeth has made igniting passion a throughline of her career, evolving from the first female stockbroker in Atlanta to founding a financial planning firm and now working as a business coach and teacher. On the episode, Elizabeth gets to the heart of what makes a mission-driven business successful. She dives deep into how to identify your unique gifts and utilize them to create a business that serves your needs and makes an impact.

    Episode Highlights

    Mission-driven businesses reflect their owners’ golden threads.

    Mission-driven businesses reflect what their owners deeply care about and the difference they want to make in the world. When that sense of purpose is then combined with the owners’ unique gifts and talents, Elizabeth says the result is “golden threads.”

    “Golden threads are those sort of innate gifts we bring to our lives that we can bring to our work to make a difference,” Elizabeth said. “A mission-driven business is that beautiful intersection of what we are capable of doing, what we are skilled and competent at doing, and what we have the gifts to do.”

    Think about what you don’t delegate.

    If you’re stuck on finding your golden threads, Elizabeth recommends thinking about what you’re drawn to. It can also be helpful to reflect on the tasks that you don’t like to delegate.

    “That’s the passion piece,” she said. “Sometimes we try to delegate something when in fact that’s the very thing we actually love to do easily, and then we’re frustrated because the people we delegate it to just don’t get it or because nobody’s going to get it like we do.”

    Say no -- especially when you’re just starting.

    As a business owner, it’s essential to escape the scarcity mentality that can lead you to take on work that doesn’t reflect your golden threads. Elizabeth emphasized the need to be selective in the projects you take on and to say no to things that don’t align with your mission. While many business owners struggle with saying no, she says the problem is especially prominent among novice business owners.

    “When we’re novices, we don’t have the experience, so we don’t have the conviction and confidence,” she said. “When we’re in that state, that’s when we have a tendency to say yes too much because we think we have something to prove.”

    Perfection is the enemy of good enough.

    Elizabeth is a big believer in prototyping. Especially when you’re just starting a business, you can’t get too attached to what you think the business will be because it will change.

    “Don’t wait until you think you’ve got it perfect,” she said. “You’re going to learn more from having a client and seeing what worked and what didn’t than anything else. Perfection is the enemy of good enough."

    Resources + Links

    • The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses by Eric Reis

    • Follow Elizabeth Jetton Online: 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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    44 m
  • The Mission Driven Business Podcast Episode 75: Building A Vision-Driven Business with Cara Bedford

    The Mission Driven Business Podcast Episode 75: Building A Vision-Driven Business with Cara Bedford
    May 14 2024
    Brian chats with marketing expert Cara Bedford. As the founder and CEO of Infinite Marketing, Cara leverages the global talent economy to drive impactful campaigns for mid-to-large-sized businesses, startups, and Fortune 500 companies. On the episode, Cara shares why having a clear vision for a business can create an authentic, cohesive brand narrative. She also stresses the importance of clear communication, effective delegation, and asking the right questions. Episode Highlights Mission-driven businesses are vision-driven businesses. When Cara thinks about mission-driven businesses, she can’t help but associate the word mission with the day-to-day tactics of running a business. But what inspires her is the vision that a mission-driven business works to make a reality. “When I think about why I get out of bed everyday, vision really resonates with me,” she said. “Mission is tactical, whereas vision is the future, the dream, the destination.” At Infinite Marketing, Cara’s vision is to create a future where work is a source of joy and growth for everyone. She aspires to run a company that moves beyond work-life balance into work-life freedom. “From the growth of our digital nomad culture that we’re seeing in the creative class, people are seeking not just employment but a journey of self-discovery and personal growth and purpose,” she said. “I want a world where work is a source of pride and fulfillment and gratification, not simply a means to an end.” Create a brand guide. Cara is a big believer in the power of brand guides, which can help inform the branding decisions for a business and identify gaps in business processes. The brand guides Infinite Marketing builds for clients are living documents that span 34 to 112 pages and detail the rules and processes of going to market. “This booklet guides all of your branding decisions,” Cara explained. “People don’t understand how impactful that is to a business.” Don’t be afraid to hire outside help. Entrepreneurs can often benefit from outside expertise to help increase their chances of success. For instance, when working to redesign her logo Cara learned to trust the designer’s process, which resulted in a design more beautiful than she could have imagined. She passes on that same advice to companies thinking about hiring a marketer. Once a business reaches a certain size, hiring someone to run marketing and sales efforts will further that business growth. For instance, a new business may not need a detailed brand guide, but Cara says investing in a brand guide is imperative for businesses with revenue in the $2 million - $5 million range. “It’s a living document that grows with you,” she said. “You add pages to it as you grow, and you build frameworks as you grow.” Resources + Links The Big Leap: Conquer Your Hidden Fear and Take Life to the Next Level by Gay Hendricks Cara Bedford: LinkedIn Infinite Marketing: Website, 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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    40 m
Liderazgo Economía
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