Episode #496: MetaConsulting and More

NEW SHOW FEATURE: If you want to ask Ron or Ed a question and be featured on the show, please submit a voice recording from any device at https://thesoulofenterprise.com/questions

SHOW SUMMARY: Join Ron and Ed as they explore the concepts behind Ed's new venture, the MetaConsulting Academy. Ed developed the idea of a metaconsultant a few years age when he realized that he has spent the better part of his career consulting to people who do consulting. Furthermore, as they explored way back in show 40, We're All Consultants Now. Listen at http://thesoulofenterprise.com/40. They will also discuss a recent article on robots and dementia patients. As always, fascinating stuff.

SHOW NOTES

Segment one

• So what is the MetaConsulting Academy? First, let’s step into the way back machine of The Soul of Enterprise. We did show show number 40 called “We’re all Consultants now” https://www.thesoulofenterprise.com/40 

• Ed’s idea behind the MetaConsulting Academy is that of helping people who have a high degree of technical expertise in a particular area that never got any of the blocking and tackling of consulting.

• The first event as a part of the MetaConsulting Academy is a joint event with our friend Hector Garcia. It’s in Dallas, TX on August 5th and 6th. More info here: https://www.metaconsultingacademy.com/ 

• Ron’s question of the day: “Why isn't there a Peter Block course at Stanford…Wharton…and Harvard?”

• The six questions that Peter Block talks about: How do you do it? How do you get other people to change? How do I measure it? How long will it take? How much does it cost? How have other people done this?

Segment two

• “Those who have a 'why' to live, can bear with almost any 'how' “ —Viktor E. Frankl

• Gail G, 5 star review: “There is such richness in this podcast. We are working on revising our marketing plan and messaging. The podcast had me realize that we need to conceptualize how we relate to ourselves and what we offer in our CaS practice. After all, we transform business.”

• What can you expect from the first MetaConsulting Academy event? Some self work at your your table, group exercises where we will work together on some language shifts that need to take place, exercises on listening and asking effective questions. 

• If you sign up for the MetaConsulting Academy in the next two days, you can get a preferred price with the code “FOE25” at this registration link: https://reframe.shoprocket.io/#!/2-day-event-in-dallas-tx-aug-5-6  

• If you missed the deadline of June 30 for the preferred price at the inaugural MetaConsulting Academy event, you can still use FOE900 as of July 1 for a slightly less preferred price https://reframe.shoprocket.io/#!/2-day-event-in-dallas-tx-aug-5-6

• Here is the article Ed wrote for the Journal of Accountancy called “Project Management for Accountants” https://www.journalofaccountancy.com/issues/2010/apr/20092306.html

Segment three

• Ron Baker just announced a new speaking event in Denver from December 8-11. Join him at Digital CPA by using the registration code DCPA100 https://www.cpa.com/digital-cpa 

• Professor Boudreaux has an article out in the AIER journal called “Arguments Against Markets” https://www.aier.org/article/arguments-against-markets/ 

• “I can’t easily get my head around the enthusiasm that many people have for active government intervention into market processes.” —Professor Boudreaux in https://www.aier.org/article/arguments-against-markets/ 

• “Government control of prices and wages has almost no effect on wealth production; such control — or lack thereof — determines only the distribution of wealth among buyers and sellers.” —Professor Boudreaux in https://www.aier.org/article/arguments-against-markets/ 

• From William Nordhaus: Entrepreneurs only keep roughly 2% of the wealth that they create outside themselves.

Segment four

• Expiring June 30: Use the coupon code TSOE for a 25% preferred price at REFRAME 2024. More information here https://www.reframe2024.com/  @qbkaccounting 

• “Of Tesla, Toyota, and Taylor Swift” by Dave Norton https://theexperiencestrategist.substack.com/p/of-tesla-toyota-and-taylor-swift 

• From the same article, “[Elon Musk] has a point of view on what customers will want in the future.” https://theexperiencestrategist.substack.com/p/of-tesla-toyota-and-taylor-swift 

• Also from the same article, “And what is the promise of an [brand] experience? It’s a point of view.” https://theexperiencestrategist.substack.com/p/of-tesla-toyota-and-taylor-swift 

• Ron Baker: “What's your firm's point of view? How do you see the world and what makes your vision unique about the way the world works? We don't ask existential philosophical questions like this.” 

• Ed Kless: I believe I can help people who have high technical proficiency and domain expertise, and I can help them get better at being able to get their advice taken by their customers, because they are better at consulting.

Bonus Content is Available As Well

Did you know that each week after our live show, Ron and Ed take to the microphone for a bonus show? Typically, this bonus show is an extension of the live show topic (sometimes even with the same guest) and a few other pieces of news, current events, or things that have caught our attention.

Click the “FANATIC” image to learn more about pricing and member benefits. 

Episode #495: Billing by the nanosecond? Fifth interview with Tim Williams

NEW SHOW FEATURE: If you want to ask Ron or Ed a question and be featured on the show, please submit a voice recording from any device at https://thesoulofenterprise.com/questions

SHOW SUMMARY: Ron and Ed welcome back for the fifth time, author, speaker, and positioning and strategy guru, Tim Williams. Tim has been doing a ton of thinking (as always) about a productized business model and capturing the value of AI for marketing agencies. His lessons are easily applied to all professional firms. In short, when Tim talks, people (including Ron and Ed) listen!

SHOW NOTES

Segment one

• Tim wrote Positioning for Professionals and Ron guarantees you will like this book or he will (literally) buy the book from you. https://www.amazon.com/Positioning-Professionals-Professional-Knowledge-Differentiate/dp/0470587156 

• Tim wrote “The Unscalable Business Model” on LinkedIn. In the article he talks about why advertising agencies are losing their best talent to the client side of the business. https://www.linkedin.com/pulse/unscalable-business-model-tim-williams/ 

• Tim also wrote “The Transformative Benefits of Productizing Your Business Model” in which he states, “Professional service firms are largely allergic to the concept of productization.” https://www.linkedin.com/pulse/transformative-benefits-productizing-your-business-model-tim-williams/ 

• “You'll always bring unique thinking and creative solutions to the problems you're solving for your clients. What we’re talking about is creating a framework or a roadmap, that is the equivalent of a product or program that helps you get from A to Z, in effect a repeatable.” —Tim Williams

• “The first the first initiative in a productization engagement is to just sit down and think through what the recurring problems that you solve for your clients are. That list then inspires what your products can and should be.” —Tim Williams

Segment two

• Ed played the song, “Carolina-O” today live on the show. It is the next GREATEST country hit or it is completely generated by AI. Or both. You decide. https://www.udio.com/songs/6TfsNT72U1QZNphKZayZUy 

• In the advertising agency world, AI is being used in the prospecting space and that is where it is having the most impact according to Tim Williams. For example, think how arduous filling out an RFP can be. 

• AI might be great but it’s not going to come up with an ad featuring a gorilla playing the drums to “In The Air Tonight” on behalf of Cadbury. Wait??? You haven’t seen that ad yet? Thank me later: https://www.youtube.com/watch?v=NHtEyDrD4oA 

• There's a really provocative quote from Sam Altman, co founder of open AI, from just a few months ago, in which he said, “95% of what marketers use agencies for today will easily, nearly instantly, at almost no cost, be handled by AI.”

Segment three

• “Using the principles of behavioral economics can be way more powerful and a heck of a lot less expensive. So I think it ought to be a mainstream competency in in anybody that calls themselves a marketing problem solver.” —Tim Williams

• “Creatives with a wacky idea have to get approval from the logical suits and the finance team. But it never works the other way around.” —Rory Sutherland

• Rory Sutherland has also pointed out that you're going to make investments in your customers when you're not just looking to monetize every single thing that you do.

• “Productization is a way of creating something that will have long term value in a broad based way.” —Tim Williams https://www.linkedin.com/pulse/transformative-benefits-productizing-your-business-model-tim-williams/ 

• Are you familiar with the Scope Metric Unit (SMU) from Michael Farmer? More at this link: https://www.farmerandco.com/proprietary-metrics 

Segment four

• Is trying to bury the billable hour getting old for Tim? Not at all. AI and productization are putting a new spin on it as it creates a new sense of urgency that we haven’t had before.

• Many advertising agencies understand that they are never going to make their margins are never going to afford world class talent again unless they adopt a scalable business model. Those same firms understand that they cannot do that with a labor based approach. 

• Ed asked Tim about the Landscaper story today. Here is the video Ed recorded YEARS ago telling the story (it’s quick…go ahead and watch it now): https://www.youtube.com/watch?v=W5wzlVplZ34 

• What company has the highest revenue per employee ever reported? …Ready?… Craigslist.

• A big THANK YOU to Tim Williams for joining us today. Tim publishes a GREAT email newsletter and you can hop on his list at the bottom of this page: https://www.ignitiongroup.com/propulsion-blog  

Bonus Content is Available As Well

Did you know that each week after our live show, Ron and Ed take to the microphone for a bonus show? Typically, this bonus show is an extension of the live show topic (sometimes even with the same guest) and a few other pieces of news, current events, or things that have caught our attention.

Click the “FANATIC” image to learn more about pricing and member benefits. 

Episode #494: Progressives & Anti-progress — Interview with Kimberlee Josephson

NEW SHOW FEATURE: If you want to ask Ron or Ed a question and be featured on the show, please submit a voice recording from any device at https://thesoulofenterprise.com/questions

SHOW SUMMARY: Ron and Ed welcome Dr. Kimberlee Josephson back to the show for a fourth time. This week they talk about Kimberlee's latest articles published on the AIER site, including:

• Apple’s Big Business: Mises is Right, Sen Warren is Wrong

• Business Schools Undermine Wealth Creation

• Tucker Carlson’s Dollar Store Takedown

• Lina Khan’s Anti-Progress Paradox

• Of Moats and Search Engines: The DOJ’s Coercive Case against Google

SHOW NOTES

Segment one

• Dr. Josephson wrote two articles recently. One on the left and one on the right. Tucker Carlson and Lina Khan. Here are her words in two links: https://www.aier.org/article/tucker-carlsons-dollar-store-takedown/ https://www.aier.org/article/lina-khans-anti-progress-paradox/ 

• Kimberlee (Dr. Josephson) mentioned the movie Dumb Money on the show today. Here is the trailer in case you haven’t seen it yet https://www.youtube.com/watch?v=bmr8YmwnZ3w 

• “This is not to say that marketers haven’t improved their ability to appeal to our interests, incentivize our purchase decisions, and persuade us with readily available buy-it-now buttons. But being coaxed is not the same as being coerced.” —Dr. Josephson from the article “Lina Khan’s Anti-Progress Paradox” at this link https://www.aier.org/article/lina-khans-anti-progress-paradox/ 

• “It's really sending a strong signal that any mergers or acquisitions are going to be scrutinized. Any startup that is hoping to get acquired by a larger firm, it's going to be more difficult to make that case” —Dr. Josephson from this article https://www.aier.org/article/lina-khans-anti-progress-paradox/ 

• A big THANK YOU to Hector and Carlos Garcia for sponsoring the show. Visit REFRAME2024.com! Use the code TSOE for a 25% preferred price @qbkaccounting 

Segment two

• “The best money I ever spent was on pink velour drapes.” —Dr. Josephson from this article https://fee.org/articles/velour-drapes-and-the-wisdom-of-mises/ 

• The Peter Principle! Kimberlee mentioned this on the show today https://fee.org/articles/the-peter-principle-tested 

• Why Are Some Diamond Brands So Expensive? https://fee.org/articles/why-are-some-diamond-brands-so-expensive 

• “Businesses can encourage our behavior for sure.” Colgate encouraging us to brush our teeth or Michelin encouraging us to drive to restaurants. 

Segment three

• “[ESG] is not going to go away because it's too embedded now in the system.” Dr. Josephson wrote an article at this link https://www.aier.org/article/how-did-we-get-here-the-coming-standardization-for-policy-implementation-of-esg/ 

• Regarding a need for ESG or DEI: “At the end of the day, you need to have just a good organizational culture. You need good HR practices and people need to understand the purpose of the organization and their role within it.” —Dr. Josephson

• Brian Kaplan from George Mason University has a great quote: “I can't help but think that you're trying to intimidate me into pretending to agree with you.” @bryan_caplan

• Spend 15 seconds rating the podcast or 30 seconds writing a review that will be read on the air: RateThisPodcast.com/TSOE

Segment four

• “Regulating ‘Junk’ Fees Is Not the Way to Help Bank Customers” from Dr. Josephson. In summary, whenever the government inserts itself in the market it usually does more harm than good. https://fee.org/articles/regulating-junk-fees-is-not-the-way-to-help-bank-customers/  

• Standing in line with oversized porcelain art at the airport counter… “Are you telling us this is a baby carriage?” Yes…yes, it is. Sometimes the attendant is trying to tell you something and steer you away from an unnecessary fee. 

• “Why the Government Shouldn’t Regulate Youth Access to Social Media” by Dr. Josephson https://fee.org/articles/why-the-government-shouldn-t-regulate-youth-access-to-social-media/ 

Bonus note

• Here’s the book by Dr. Stan Ridgley that Dr. Josephson mentioned during the show: https://brutalminds.com/ 

Bonus Content is Available As Well

Did you know that each week after our live show, Ron and Ed take to the microphone for a bonus show? Typically, this bonus show is an extension of the live show topic (sometimes even with the same guest) and a few other pieces of news, current events, or things that have caught our attention.

Click the “FANATIC” image to learn more about pricing and member benefits. 

Episode #493: Reframing Accounting — Interview with the Brothers Garcia

For more information about Reframe 2024 go to REFRAME2024.com and use coupon code TSOE for a 25% preferred price through June 30.

NEW SHOW FEATURE: If you want to ask Ron or Ed a question and be featured on the show, please submit a voice recording from any device at https://thesoulofenterprise.com/questions

SHOW SUMMARY: Join Ron and Ed as they interview Hector and Carlos Garcia about their upcoming conference Reframe 2024: Influential Conversations for Accountants. This conference centers on the transformative power of language in reshaping professional identities, corporate cultures, and business models within the accounting sector. Key topics will include the strategic rebranding of firms and individuals through careful word choice, preparing for challenging conversations with various stakeholders, and enhancing service value via unique offerings and persuasive language. For more information go to REFRAME2024.com and use coupon code TSOE for a 25% preferred price through June 30.

SHOW NOTES (AI generated):

• Reframing the Accounting Profession:

  • The central theme of the podcast, discussing how the accounting profession can be transformed and reframed to add more value and stay relevant.

• The Reframe Conference:

  • Description of the Reframe Conference organized by Hector and Carlos Garcia, focusing on themes like creative business models for accountants and influential conversations.

• Value Creation in Accounting:

  • Discussion about the framework for value creation in accounting, highlighting nine opportunities to create value during client interactions​​.

• Importance of Effective Communication:

  • Emphasis on the need for accountants to improve their communication skills to better explain their value to clients and handle difficult conversations​​.

• Curiosity in Client Interactions:

  • The role of curiosity in client conversations, asking better questions to understand client needs deeply and provide more tailored solutions​​.

• Strategic Pricing and Value Pricing:

  • The significance of having a strategic pricing approach and implementing value pricing to reflect the value provided to clients​​.

• Specialization and Niching in Accounting:

  • The benefits of specializing in a specific area or industry within accounting to become an expert and differentiate from competitors​​.

• Handling Client Questions about Price and Time:

  • Strategies for responding to common client questions about pricing and duration of services to maintain control over the conversation and demonstrate value​​.

• Transformative Impact of Language:

  • How changing the way accountants communicate can transform their relationships with clients and the perceived value of their services​​.

• Overcoming Commoditization:

  • Addressing the challenge of commoditization in the accounting profession by adopting creative and innovative business models and practices​​

Bonus Content is Available As Well

Did you know that each week after our live show, Ron and Ed take to the microphone for a bonus show? Typically, this bonus show is an extension of the live show topic (sometimes even with the same guest) and a few other pieces of news, current events, or things that have caught our attention.

Click the “FANATIC” image to learn more about pricing and member benefits.