Greg Tirico
Episode #528 Preview: Questioning Conscious ...
Episode #528 Preview: Questioning Conscious Capitalism — Fifth interview with Kimberlee Josephson
Greg Tirico
Episode #527: Building Your Ideal Practice — ...
Episode #527: Building Your Ideal Practice — Roundtable with experts from Woodard
Greg Tirico
Episode #526: Engagement From The Inside Out — ...
Episode #526: Engagement From The Inside Out — Interview with Jordan Birnbaum
Greg Tirico
Episode #525: Fractional CPO? Interview with ...
Episode #525: Fractional CPO? Interview with Ethan Williams
Greg Tirico
Episode #524: Próspera — Interview with Lonis ...
Episode #524: Próspera — Interview with Lonis Hamaili

Politics

Episode #528 Preview: Questioning Conscious Capitalism — Fifth interview with Kimberlee Josephson

NEW SHOW FEATURE: We are now LIVE streaming our shows. Want to join us live? Just click this link at 3pm ET / 12pm PT.

In this episode, we welcome back Dr. Kimberlee Josephson for her fifth appearance on The Soul of Enterprise. Dr. Josephson, an associate professor of business at Lebanon Valley College and adjunct research fellow with the Consumer Choice Center, brings her extensive expertise in global sustainability, international marketing, and workplace diversity to our discussion.

We delve into the complexities of Environmental, Social, and Governance (ESG) criteria, examining their impact on business operations and economic freedom. Dr. Josephson shares her insights on the challenges ESG poses to free-market principles and the potential consequences for entrepreneurs and consumers alike.

Join us for a thought-provoking conversation that explores the intersection of corporate responsibility and economic liberty, and gain a deeper understanding of the current debates surrounding ESG in today’s business landscape.

MORE ABOUT KIMBERLEE JOSEPHSON

Dr. Kimberlee Josephson is an associate professor of business at Lebanon Valley College and serves as an adjunct research fellow with the Consumer Choice Center. She teaches courses on global sustainability, international marketing, and workplace diversity. Her research and op-eds have appeared in various outlets. She holds a doctorate in global studies and commerce and a master’s degree in international policy both from La Trobe University, a master’s degree in political science from Temple University, and a bachelor’s degree in business administration with a minor in political science from Bloomsburg University

Join us every Friday at 3pm ET / 12pm PT

  • You can watch us live at https://www.thesoulofenterprise.com/live (the podcast is available just a few hours after the show airs live)

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As always, please check our website for upcoming and previous show notes and recordings, use Twitter to find the show at @AskTSOE or find us on Facebook.

The Soul of Enterprise show hosts, Ron Baker and Ed Kless, are on X (the artist formerly known as Twitter) at @ronaldbaker and @edkless, respectively (and obviously).

Episode #527: Building Your Ideal Practice — Roundtable with experts from Woodard

Join Ron and Ed for an engaging roundtable discussion with three dynamic leaders from Woodard: Patricia Hendrix, Heather Satterley, and Deborah Defer. These accomplished professionals bring their unique expertise in practice advancement, technology integration, and Client Advisory Services (CAS) to the conversation. Together, they’ll explore the evolving landscape of accounting, the role of automation, and strategies for business transformation. Tune in for insights, innovation, and inspiration from some of the industry’s top minds!

SHOW NOTES

Segment one

  • To start off the show today, Ron proclaims that “CAS is a ridiculous acronym and it’s not the AICPA’s fault. It needs to be branded and described by each firm.” Patricia and Deborah had some great insight on this one.

  • “This whole CAS thing was a way for us to flip the narrative (that accountants are necessary but not desired), but I think it's only caused more confusion and really an identity crisis.” —Heather Satterley

  • I ask [the firms I work with] if they have a vision, mission, and purpose. Many of them, 90%, say, “We're thinking about it.” Deborah Defer 

  • “The vision, mission and purpose [of an organization] really drives everything in your business. Without one, it's like wandering around in the world without any direction. It’s being in business for the sake of being in business, versus being in business to actually make an impact on the world.” —Heather Satterley

Segment two

  • How does Heather get a firm to think about their niche? Consider these questions: What is the makeup of their practice? Who are they working with? Where are they seeing the most successes in what they're doing currently? Where are they getting the most satisfaction, both on the firm side and on the client side?

  • “Once you know what your ideal client profile is then you have two tasks. One is to go back and look at your current client base and measure each one of them against your ideal client profile. Then decide what you're going to do with the ones that don't measure up.” —Patrica Hendrix

  • “We, as accountants, went into a service based business. We like to serve and we don't know how to say no. So accounting firms end up getting 25-30 different industries that they try to focus on.” —Deborah Defer

  • I see a turning point when we're coaching people. There's a turning point when they really get confidence in themselves and say, “I know I'm delivering a good product. I know I'm valuable and I'm pricing to my value.” —Patricia Hendrix

Segment three

  • “As part of the seven ideals in building an ideal practice, three stand out to me that are probably my highest priorities: technology, people, and process.” —Deborah Defer

  • Regarding finding talent in the industry, Heather had some amazing insight for us today. Here’s a great quote, “Where we kept shooting ourselves in the foot was putting that word ‘accountant’ in the job description.” —Heather Satterley

  • “I think that it's very belittling to have to be accountable for every six minutes of a person's time.” —Deborah Defer

  • Regarding the billable hour, “The struggle is because most of these smaller firms are paying their staff by hour. They're thinking how much am I getting done in any given hour?” —Patricia Hendrix

Segment four

  • Regarding future tech trends: “People are pretty excited about AI. I think that it'll be really interesting to see how firms are ACTUALLY using it.” —Heather Satterley

  • Regarding a future business trend: “So for the longest time nobody that I spoke to was even thinking about selling their practice. They were just going to work till the day they died or hang their shingle up and be done.” —Patricia Hendrix

  • Regarding future business/tech trends: “Firms that are just starting to look at AI from a risk perspective have already missed the train. It's going 10,000 miles an hour and these firms are going to get gobbled up.” —Deborah Defer

  • A big THANK YOU to Heather Satterley, Deborah Defer, and Patricia Hendrix for joining us today. 

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 #526: Engagement From The Inside Out — Interview with Jordan Birnbaum

In this episode of “The Soul of Enterprise,” hosts Ron Baker and Ed Kless engage with Jordan Birnbaum, co-founder of Glinda Group, to explore the intersection of behavioral science and business strategy. They discuss how applied social science can drive measurable improvements in employee engagement, leadership development, and organizational culture. Jordan shares insights from his extensive experience, including his tenure as Chief Behavioral Economist at ADP and his entrepreneurial ventures in the entertainment industry. Listeners will gain a deeper understanding of how behavioral principles can be harnessed to enhance business outcomes and foster a more engaged workforce.

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 NOTES

Segment one

Segment two

Segment three

Segment four

  • Is HR a destructive force in business? The individual HR professional certainly is not so why the disparity? https://www.psychologytoday.com/intl/blog/the-uncertainty-principal/202409/why-hr-doesnt-cant-work 

  • If the performance appraisal is meant to give people a view into their performance then it should be structured one way. If it is intended to motivate and give guidance then it should be structured another way. But because organizations do both at the same time, neither works.

  • A big THANK YOU to Jordan Birnbaum for joining us today. Do yourself a favor today and check out what he is up to at Glinda Group https://glindagroup.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 #525: Fractional CPO? Interview with Ethan Williams

In this insightful episode of The Soul of Enterprise, Ed and Ron are joined by Ethan M. Williams, the founder of Fractional Pricing Advisors and a recognized expert in value-based pricing strategies. With over two decades of experience in corporate strategy and a Certified Pricing Professional designation, Ethan shares his journey through roles at PwC, GE Digital, and beyond. Together, they delve into how businesses can unlock profitability by moving away from cost-plus models and embracing customer-centric pricing. Tune in to explore actionable strategies for transforming your pricing approach and driving value in today’s competitive market.

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 NOTES

Segment one

  • “You'll figure it out” are the simple words that started Ethan down the path of pricing. He now runs Fractional Pricing Advisors. More at this link: https://www.fractionalpricingadvisors.com/

  • GE, PwC, McKinsey, and KKR help to round out Ethan’s qualifications as a pricing advisor. Based on the conversation today…..yes, he is qualified. 

  • PR pros are timid on pricing. Accountants and consultants cling to cost-plus models. The common thread? The C-suite needs to understand the ROI / NPV.

  • What industries are best suited for Ethan’s fractional pricing offering? Software companies and professional services companies between $50-150M in revenue have not had access to this type of expertise before.

Segment two

  • Ethan’s reaction to the quote, “Pricing is part voodoo and part bingo.” ….from Ethan: “I’ve always said that it's like part investment bank and part David Blaine.”

  • Truth talk: Professionals have been so jaded and the billable hour is endemic to them. They just can't break that cycle.

  • In his time at auditing at PwC, Ethan noticed most Chief Accountants are from the big four. And the billable hour is what they know. That's what they want so it is a bit of a headwind when it comes to any meaningful change.

  • “The majority of pricing mistakes are underpricing rather than overpricing.” —Ed Kless 

  • “Is pricing an art or a science?” This is sort of Ethan meant when he was saying, it's a little bit David Blaine and a little bit investment banker.

Segment three

  • “Value-based pricing isn't about arguing for a bigger cut of a static pie. It's about pricing your service as the best NPV alternative & then working in partnership with your clients.” —Ethan Williams of Fractional Pricing Advisors

  • Ron referenced this in segment three of the show today: The pricer at Philips Medical breaks it into economic value, operational value, clinical value, emotional value, and then societal value

  • From Ethan Williams of Fractional Pricing Advisors: Check out this article called “The B2B Elements of Value” from Bain & Company https://www.bain.com/insights/the-b2b-elements-of-value-hbr 

  • Ethan had a GREAT take on the most important B2B metrics that help you understand if you are winning: “Winning in business comes down to 4 key KPIs: Average deal size, cycle time, win rate, and margin.”

  • Where should the pricing authority lie in an organization? “There is no perfect answer but you need C-Suite support without a doubt.” —Ethan Williams of Fractional Pricing Advisors

Segment four

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 #524: Próspera — Interview with Lonis Hamaili

In this episode of “The Soul of Enterprise,” hosts Ron Baker and Ed Kless engage with Lonis Hamaili, Vice President of Growth at Próspera, to explore the innovative concept of startup cities and their potential to revolutionize business environments. Próspera, located on Roatán Island, Honduras, offers a unique platform for entrepreneurs, featuring efficient business setup processes, favorable tax regimes, and a flexible regulatory system designed to foster rapid growth and innovation. The discussion delves into how Próspera’s e-Governance platform enables seamless business management, allowing entrepreneurs to focus on building their ventures. Loni shares insights into the community’s development, the opportunities it presents for startups, and the vision behind creating a dynamic, forward-thinking environment that supports both business and lifestyle aspirations.

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 NOTES

Segment one

  • Our guest today, Lonis, wrote an article called, “Why I Left Silicon Valley for a Honduran Startup City” for FEE. More here: https://fee.org/articles/why-i-left-silicon-valley-for-a-honduran-startup-city/  

  • Today I learned that Prospera is the world's only startup CITY with significant legal freedoms. https://www.prospera.co

  • What is the perceived advantage of Prospera, the startup city? The key enablers of progress are minimal government, strong property rights, and a lot of personal freedom.

  • There are taxes in Prospera but that is their business model. They generate revenue and returns for a shareholder to the extent that they generate enough useful economic activity.

Segment two

Segment three

Segment four

  • Lonis addressed the concerns in this NY Times article titled, “The For-Profit City That Might Come Crashing Down” In the spirit of what Prospera represents, here is the link without a paywall: https://archive.is/pMGIP 

  • Prospera gives power to the people and is a decentralized power. It is a grassroots project started by economists and business leaders. As you can imagine, some politicians feel threatened. 

  • A big THANK YOU to Lonis Hamaili for joining us today. Prospera is a startup city in Roatan, Honduras that is largely unrestricted and open for business. Learn more here https://www.prospera.co/en 

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 #523: Pricing Spineometers — Second interview with Tim Smith

In this enlightening episode, Ron and Ed sit down with Tim Smith, a leading pricing expert and author from Wiglaf Pricing. Together, they dive into the impact of philosopher John Rawls’ Theory of Justice on economic decisions and pricing strategies. Tim shares insights into how Rawls’ principles, like fairness and the “veil of ignorance,” can shape corporate pricing decisions, from the boardroom to the balance sheet. Join us as we explore pricing Spineometers, CEO decision-making, and the ethical considerations behind profitable pricing in today’s market.

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 NOTES

Segment one

Segment two

  • A snippet of pricing GOLD from Tim Smith today: Anybody who has to sell something on a long term contract and doesn't know the input cost, and is a significant portion of the price, should consider index based pricing. 

  • “There's a feeling among Wall Street and among many executives, that price is simply a function of supply and demand. That you don't need to worry about it. The market will take care of it.” —Tim Smith, pricing expert at Wiglaf Pricing

  • Where does pricing belong in an organization? “It's definitely industry dependent. What I want is that pricing person to have a direct line to the CEO.” —Tim Smith

  • “When I'm just trying to match supply and demand, what they actually found is that they'll raise the prices for the Uber and but that doesn't actually increase the supply of Uber drivers. It just makes money for Uber.” —Tim Smith

Segment three

  • Is dynamic pricing fair? “What's fair is culturally relevant so, in the United States, I can't do price fixing and in Saudi Arabia, I’m encouraged to do price fixing.” —Tim Smith

  • “In a global corporation, you can take your best practices that you already have from other countries and apply them back to the wherever you live. And this is the need for building a pricing community within a corporation” —Tim Smith

  • Does pricing follow strategy or does it lead it? “It’s both. One of the problems I see often in medical tech is they try to make the best thing in the world. But the ASCs want the cheapest thing. So you have a disconnect of what you're making vs the market

Segment four

  • “Under a free market society that’s properly regulated (there's a role for government), anybody who enters into a transaction is doing so because it leaves them BETTER OFF.” —Tim Smith

  • “Milton Friedman said the only purpose of a company is to produce profits. That is its job. That is the very definition of a corporate psychopath.” —Tim Smith

  • A big THANK YOU to Tim Smith for joining us today. Check out more of his work at Wiglaf Pricing https://wiglafpricing.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 #522: Best Books of 2024

It's that time of year again! Join Ron and Ed as they dive into the standout books of 2024, sharing personal favorites, groundbreaking reads, and thought-provoking titles that shaped our year. From business insights and innovative thinking to inspiring narratives, we'll highlight books that captivated our curiosity and expanded our perspectives. Whether you're looking for your next read or just enjoy book talk, this episode will give you a curated list of must-reads to wrap up the year in style.

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 NOTES

Segment one

Segment two

Segment three

  • By the way, Ron and Ed do NOT share their best book lists prior to the live recording. They BOTH picked “The Heart of a Cheetah” by Magatte Wade as number 3 on their list

  • “Businesses create jobs. Jobs pay people money. And when Africans have money, they will no longer be poor.” —Magatte Wade https://amzn.to/4gO52Lj 

  • Book 2 from Ed: Orbiting the Giant Hairball by Gordon MacKenzie https://www.amazon.com/Orbiting-Giant-Hairball-Corporate-Surviving/dp/0670879835 

  • Book 2 from Ron: A Higher Call: An Incredible True Story of Combat and Chivalry in the War-Torn Skies of World War II by Adam Makos and Larry Alexander https://amzn.to/3WdiKPI 

Segment four

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 #521: 2024 The Year in Review

In this annual tradition, Ed and Ron look back on 2024, unpacking the year's most impactful trends, business transformations, and economic shifts. From breakthroughs in AI to evolving tax regulations and the latest developments in technology, they reflect on the standout themes that defined this year. Tune in as they explore what these changes mean for the future, the insights gained along the way, and the lessons learned. Perfect for listeners who want to capture the essence of 2024's business landscape in one insightful episode.

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

Join us every Friday at 3pm ET / 12pm PT

As always, please check our website for upcoming and previous show notes and recordings, use Twitter to find the show at @AskTSOE or find us on Facebook.

The Soul of Enterprise show hosts, Ron Baker and Ed Kless, are on X (the artist formerly known as Twitter) at @ronaldbaker and @edkless, respectively (and obviously).

Episode Reprise: Business Lessons from A Christmas Carol

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:
[EDITOR’S NOTE: Originally aired December 2015!]

On this episode, Ron and Ed explore the business lessons from one of the most recognized and beloved stories shared during the holidays, Charles Dickens’ novella, A Christmas Carol. While many of you know the story and seen one or more of the adaptations, many fewer of you have read the original work which, like most of Dickens, an absolute joy to read and has much to say about business 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. 

Episode #520: Christmas Special — Fireside Chat with Greg "Kris Kringle" Kyte

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: In this episode of The Soul of Enterprise, hosts Ron and Ed welcome back Greg Kyte, a CPA, MBA, and stand-up comedian renowned for his unique blend of accounting expertise and humor. As the G. Robert Newhart Non-value-added Fellow at the VeraSage Institute, Greg has been performing stand-up comedy since 2002 and is the creator of "Exposure Drafts," a cartoon series for the accounting profession. He also co-hosts the podcast "Oh My Fraud" with Caleb Newquist, where they explore financial fraud cases with an irreverent twist. In this lively discussion, they delve into the art of humor in business, the intersection of comedy and accounting, and the importance of engaging content in professional education. Greg shares insights from his experiences as a comedian and educator, offering valuable perspectives on making complex subjects accessible and entertaining.

ABOUT GREG KYTE
Greg Kyte is the G. Robert Newhart Non-value-added Fellow at VeraSage Institute.

In 2016 I started Exposure Drafts, a cartoon series for the accounting profession. My cartoons have been featured on GoingConcern.com, and I've created custom cartoons for Intuit and the Thriveal CPA Network. My cartoons are also available as holiday cards from RuBook Creative (rubookcreative.com).

I've been performing stand up comedy since 2002, and I've brought that experience, energy, and humor to the stage as the emcee for Xero's Xerocon and Thriveal's Deeper Weekend conference, and this October to Gusto's Gusto Next conference.

My experience as a comedian and as a teacher (I taught junior high math for ten years in a former life) have allowed me to create entertaining, engaging, NASBA-certified CPE content. Literally tens of thousands of CPAs have attended my fraud and behavioral ethics courses on the CPA Academy and Encoursa platforms. I've also created custom CPE content for Gusto and Xero.

I'm also a licensed CPA in the State of Utah where I'm the controller for a group of medical office buildings.

SHOW NOTES

Segment one

  • For the last 5 years, Greg Kyte has been joining us for our Christmas episode. He's back and he's hoarding medicine from the local pharmacy which makes total sense (or none at all).

  • Greg has been a part of a few hilarious videos over the years. Check out Bob’s BBQ: https://www.youtube.com/watch?v=OJv5xIFcRXU 

  • Some other great videos from Greg: Great Moments in Value Pricing History part I: https://www.youtube.com/watch?v=kU-XJzRINIk 

  • Great Moments in Value Pricing History part II: https://www.youtube.com/watch?v=Ky307jkr8dE

  • Exclusive breaking news on The Soul of Enterprise: Greg Kyte will be stepping away from Oh My Fraud! beginning in 2025. He very much enjoyed it and expands on some of the reasons in segment one of the show today. 

Segment two

  • Here’s another great video mentioned by Greg Kyte today: Billable Hour Scratch & Win https://www.youtube.com/watch?v=3EaVMhENXVM  

  • Rita Crundwell was the subject of an episode of Oh My Fraud! President Biden just commuted her sentence. https://ohmyfraud.com/episodes/dont-look-a-fraud-horse-in-the-mouth 

  • So how did Rita Crundwell end up getting caught? It started when she took a vacation and her subordinate raised a flag (not knowing what they were stumbling into).

  • From Greg Kyte today: “So often these people who perpetrate frauds are people who have developed trust over a period of time.”

Segment three

  • Did you know that Greg Kyte and Caleb Newquist did an episode of Oh My Fraud! about Greg’s workplace early in his career??? https://ohmyfraud.com/episodes/financial-foul-play-a-true-tale-from-greg-s-workplace 

  • “It's not unethical to drive faster than 55 miles an hour, but at one point it was illegal to do so. That's the clearest example when we get to talking about morals versus ethics.” —Greg Kyte

  • From Greg today on the difference between ethics and morals: Ethics are, “Am I doing something that's wrong?” Morals are, “Am I doing the right thing?”

  • From ChatGPT: Think of morals as your personal sense of right and wrong, your internal compass. Ethics are more like the rules or guidelines for behavior in a group, profession. or society.

Segment four

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 #519: Instant Profits — Third interview with Mark Stiving

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: In his third appearance on The Soul of Enterprise, pricing expert Mark Stiving, Ph.D., returns to share new insights on maximizing profitability through value-based pricing strategies. As the founder and CEO of Impact Pricing, Mark guides businesses toward understanding and articulating their value, so they can stop leaving money on the table. Join Ron and Ed as they dive deep into Mark’s expertise on aligning organizations around value creation, optimizing pricing structures, and tackling the nuances of customer willingness to pay.

ABOUT MARK STIVING
Mark helps companies discover how buyers perceive value and how to price offerings to capture more of the value they create. For over 25 years he has studied, led and coached businesses through the lens of pricing, a radically different approach from other business experts. He knows that every person inside your company affects the price a buyer is willing to pay. The prices you achieve ultimately indicate how well the entirety of your company operates. Mark has driven a company-wide pricing initiatives worth hundreds of millions of dollars in incremental profit. He started and sold three companies, improving his championship pricing skills in each one. Mark will change the way you and your audience think about pricing and business as a whole.

SHOW NOTES

Segment one

  • So why is Mark joining us for a 3rd time on the show? He is still driven by changing the way you think about pricing and customers. And he’s written another book about it. https://impactpricing.com/instant-profits-book/ 

  • Mark’s new book is called Instant Profits and Mark starts right up front with, “this book is about 1/10 the number of words in my other books, yet it's priced five times higher.”

  • “Don't go raise all your prices to all your customers. The whole premise of the book is choose the right customers, the right products, the right situations." —Mark Stiving, author of Instant Profits https://impactpricing.com/instant-profits-book/ 

  • “So if we could actually articulate what we do and the value we're going to deliver to our customers, we have room to raise prices.” —Mark Stiving

Segment two

  • “If you haven't raised your prices over the last four years you have given your customers a 23% discount and gotten zero credit for it.” —Mark Stiving

  • There are three profit drivers: price, sales volume, and cost. Two of those are negatively impacted by inflation… If that sounds interesting to you, check out Hermann Simon’s book Beating Inflation https://www.amazon.com/Beating-Inflation-Concrete-Effective-Corporate/dp/3031200926 

  • From Mark today: Consumers are less size sensitive than they are price sensitive. In the B2B world, find features that only a few of your customers are using. Take that feature out of the product, and leave the price the same. Then create a new tier.

  • Did you know that Mark Stiving publishes a Monday newsletter on LinkedIn? Link is here: https://www.linkedin.com/newsletters/mark-stiving-s-newsletter-6929460546874355712/ 

Segment three

  • Regarding ChatGPT Pro at $200 per month: ”I thought it was brilliant because what it says to me is that there's a group of people out there that are getting so much value out of ChatGPT and they've they figured out who they are and what they're doing.” —Mark Stiving

  • “How much value do I think that specific customer is going to get from this specific product and this specific application? As AI is able to help me figure that out then I'm able to do pricing better.” —Mark Stiving

  • What does Mark think is going to be the continuing impact of behavioral economics on pricing? “Behavioral economics has probably reached its peak in terms of how much is going to influence pricing.”

  • What are your thoughts on, on freemium options? I think you've got to have a really clear business case to say freemium makes sense. Freemium is really a marketing tactic. It's not a pricing tactic.” —Mark Stiving

Segment four

  • Does pricing follow strategy or vice versa? “We need a corporate strategy and, once we have that strategy, we can figure out what pricing model fits best with that strategy.” —Mark Stiving

  • “When we start thinking about price and stop thinking about value then we stop thinking about how we serve our customers. Buyers trade money for value.” —Mark Stiving

  • A big THANK YOU to Mark Stiving for joining us today. Please check out his new book, Instant Profits (it’s a quick, fun read). You can find it at this link https://impactpricing.com/instant-profits-book/ 

 
 

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 #518: Trends in the Transformation Economy with Christophe Jauquet

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 Christophe Jauquet, an expert in health and well-being innovation, to discuss his latest book, The Transformation Economy. Christophe delves into how businesses are evolving to focus on experiences that meaningfully impact people’s lives. From redefining customer engagement to fostering personal growth, Christophe shares insights on the “transformation economy” concept and its implications across industries. Join us for a fascinating conversation on creating value beyond products and services in today’s market.

ABOUT CHRISTOPHE JAUQUET
With over two decades in business management, Christophe Jauquet expertly navigates the intersections of Customer Centricity, Innovation, and Future trends. He keenly tracks groundbreaking innovations, social-cultural shifts and health-related behaviours to decipher what they mean for your business strategy. Leveraging this profound understanding, Christophe has been delivering transformational keynotes since 2014, guiding the future direction of numerous business strategies in diverse sectors—from retail, beauty, and insurance to consumer goods, construction, pharmaceuticals, and tech. At the core of his vision is the belief in integrating health into every business strategy.

SHOW NOTES

Segment one

  • As a teenager, it was fashion. At university, it was economics. As a career, it was Pharma. Pull those three things together, and you have the blueprint for how Christophe became Christophe. More here: https://www.christophejauquet.com/blog 

  • “Health care is always considered a vertical, a business, a sector. I in my first book, tend to argue for saying that the business of health is actually a transversal business.” —Christophe Jauquet https://www.christophejauquet.com/healthusiasm 

  • Christophe referenced the 4 pillars of health on the show today. Loosely translated from French, they are exercise, good nutrition, relaxation, and sleep. 

  • “Because there is no differentiation [in the gym industry], it's hard to battle on price and to win on price. So people lower their price to win…UNLESS you can provide an experience” —Christophe Jauquet

Segment two

Segment three

  • TIL: A digital twin is a digital copy of either an object, a human, or even the entire world. The idea behind it is that you can use a digital twin to do tests or to better understand what is happening in the real version of the twin.

  • “I think what is very remarkable about femtech is that they solve something which was happening for a long time in health and healthcare which is that we did not pay enough attention to women” —Christophe Jauquet

  • “We work our entire year for one or two trips a year. So everything that we invest there, we It must bring back a lot of value. And so the travel industry has always been put under pressure to bring enough value to their customers” —Christophe Jauquet

Segment four

  • “One of the earliest things that I've learned from AI is that it's a wonderful partner to brainstorm with.” —Christophe Jauquet

  • “If you want to have an offering to be successful, you need to answer needs. You need to answer expectations, and you need to answer the transformations or the aspirations that people have” —Christophe Jauquet

  • A big THANK YOU to Christophe Jauquet for joining us today. Check out his new book, Trends in the Transformation Economy, at this link: https://www.christophejauquet.com/transformationeconomy 

 
 

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 Reprise: Auditing Santa

auditing santa

[EDITOR’S NOTE: This show is now available in your favorite podcast player or using the embedded audio. It was originally aired in December, 2021]

We have a really special treat for you with this episode! Somehow we managed to get our recording equipment into the offices of Santa, Inc. during an audit! Join the conversation in progress and find out how naughty or nice Santa has been with the tax code!

(There probably should have been a “gratuitous dad joke ahead” warning on that one. Sorry, folks.)

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

Join us every Friday at 3pm ET / 12pm PT

As always, please check our website for upcoming and previous show notes and recordings, use Twitter to find the show at @AskTSOE or find us on Facebook.

The Soul of Enterprise show hosts, Ron Baker and Ed Kless, are on X (the artist formerly known as Twitter) at @ronaldbaker and @edkless, respectively (and obviously).

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 #517: Crypto Compliance — Conversation with Joe Woodard and Perry Woodin

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: In this episode, Ron and Ed welcome back Joe Woodard, now a TSOE Sponsor, and Perry Woodin, a leading expert in cryptocurrency compliance and reporting. They will dive into the critical challenges professionals face in navigating the evolving regulatory landscape of digital assets. The discussion will focus on actionable insights for accountants, lawyers, and other service providers on staying compliant with cryptocurrency regulations, best practices for accurate reporting, and the key trends shaping the future of digital asset compliance. Perry will also showcase how NODE40's innovative technology is empowering professionals to simplify the complexities of crypto transactions, ensuring audit readiness and regulatory adherence. This timely conversation provides essential guidance for those looking to stay ahead in the rapidly changing world of cryptocurrency.

Joe Woodard, author, consultant, business coach, and national speaker; Founder of Woodard Events, LLC

Perry Woodin, Co-Founder and Chief Innovation Officer of Node40

SHOW NOTES

Segment one

  • “In 2012 I was at a conference and sitting next to a colleague of mine, and he kept checking his phone like every 30 seconds, and I asked him, “What are you looking at?” He said, “I’m mining Bitcoin” —Perry Woodin

  • “[Satoshi Nakamoto] was really prescient. The ability to think so far into the future, the philosophy, the economics, the computer science, and the willpower to develop something like Bitcoin.” —Perry Woodin 

  • “The [Cryptocurrency] rules are complex but the good thing about blockchain is it's all programmatic. So once you have rules […] you can build out tooling that gives you exactly what you need every single time.” —Perry Woodin

  • About Node40, Perry says, “We really obfuscate or remove the technological barrier, and we produce financial reports that anybody can understand.” More here: https://www.node40.com/ 

Segment two

  • “Bitcoin has proven that itself as an asset and blockchain is is too big to fail, there's, there's no going to zero on this stuff.” —Perry Woodin of Node40

  • “I think we have to think Bitcoin much like we do gold. People aren't transacting daily with gold either. What we are waiting for is the ability to put your Bitcoin to work.” —Perry Woodin

  • Regarding the lack of government consistency in their approach to crypto: “Most of the problem is going to be around companies that want to issue tokens. It's not going to be a problem for those who are investing in digital assets.” —Perry Woodin

  • What should a small accounting firm do in the cryptocurrency space? “The first thing they should do is poll their customers to ask who has digital assets.”

Segment three

  • Joe Woodard’s thoughts on private equity in the accounting space are much more significant than a single post on X. His comments in the third segment of the show today are IMPORTANT if you are paying attention to PE firms. 

  • “AI is going to bifurcate the industry into complex and non-complex accounting. The complex will still be serviced by AI empowered practitioners and the rest won't have practitioners.” —Joe Woodard

  • Regarding a talent shortage in the accounting industry: “If we priced our services better, given the value that we're providing to our customers, then we could treat our teams better (and not burn out our professionals).”

Segment four

  • Did you know that Joe has an Apple Vision Pro? The 15 minute immersive movie produced by Apple was “unreal” and Joe enjoyed it. Fifteen minutes was the right length before he was ready to return to the real world.

  • This quote from Joe does not need to be applied to just the accounting industry: “The AI has become more sophisticated in absorbing documents and doing what a human would have done with those documents.” —Joe Woodard

  • On the impact of AI: “The people billing by the hour are going to punish themselves quickly. The people who are not billing by the hour that don't add value are going to punish themselves. Then only those who truly value price will win.” —Joe Woodard

  • A big THANK YOU to both Perry Woodin and Joe Woodard for joining us today. Please check out Node40.com and, as always, Woodard.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 #516: Interview with Alan Whitman, Former CEO of Baker Tilly US

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: In this episode of The Soul of Enterprise, Ron and Ed sit down with Alan Whitman, a prominent leader in the accounting field with a deep commitment to fostering dynamic, people-focused growth strategies. As CEO at Baker Tilly, Alan has championed innovative solutions and strengthened client relationships, all while focusing on the firm’s core values and sustainable growth. Join us as we dive into Alan’s insights on leadership, the future of professional services, and how Baker Tilly navigates a rapidly evolving industry landscape.

SHOW NOTES

Segment one

Segment two

  • “Greatest Hits: 5 Keys to Building a Firm that Thrives” by Alan Whitman https://www.alandwhitman.com/newsletter/greatest-hits-5-keys-to-building-a-firm-that-thrives 

  • “Strategy is the anchor from which everything hangs off, all the plans, all the spend, all the actions. The strategy defines where the company is headed and what it wants to accomplish at the macro level. Then you build a plan.” —Alan Whitman

  • “How do you get CPAs be more innovative in an hourly building model?” Ron asked Alan thisGREAT question today and the answer is in segment two of the show.

  • “If you're efficient at doing the wrong things, there's no bigger waste.” —Ron Baker

Segment three

  • We spent some time on the show today talking about the negative aspects of the CPA industry but Alan Whitman had a great quote that needs to be called out, “The CPA profession is storied, and it's been around a long time. It is fundamentally based on trust.”

  • “The AICPA is going through a huge transition and it’s a really exciting time for the for the Association.” —Alan Whitman

  • In the accounting industry specifically, “AI is going to accelerate the need to adopt technology.” —Alan Whitman

Segment four

  • So what has Alan been up to? “I’ve actually been sitting back and saying…okay, if I was going to build this new firm from scratch, how would I do it?” #BreaktheMold https://www.alandwhitman.com/ 

  • What is a business transformation to Alan? “It's about making what you have today different tomorrow, so you can succeed better tomorrow.”

  • A big THANK YOU to Alan Whitman for joining us today. He’s out there everyday looking to #BreaktheMold and you can read more about him at this link https://www.alandwhitman.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 #515: Election Exasperation 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: In this special post-election episode, Ron and Ed dive into the highs, lows, and surprises from the 2024 U.S. election. They’ll explore the economic and business implications of the election results, unpack key possible policy shifts, and discuss what the outcome could mean for professionals and beyond. Tune in for insights, analysis, and a touch of humor as they make sense of the latest political landscape.

SHOW NOTES

Segment one

Segment two

Segment three

  • At the start of the segment, Ed had a great quote… “Polls drool. Election markets rule.”

  • The betting market aggregator run by John Stossel (former TSOE guest, episode 204) and Maxim Lott is an aggregate of individual betting markets. More here: https://electionbettingodds.com/ 

  • The Harris campaign and allied groups spent $1.9 billion on ads. The Trump campaign and allied groups spent $1.6 billion. Between the time Harris entered and November 1, Democrats outspent Republicans on presidential ads alone by $460 million.

Segment four

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 #514: Implementation Innovation — Interview with Kurt and Reid Banger

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: In this episode of The Soul of Enterprise, hosts Ron and Ed sit down with Kurt and Reid Bangert of Bangert, Inc., innovators in construction technology solutions. The Bangerts will share insights into “The Bangert Way,” a transformative approach that eliminates traditional hourly billing in favor of a streamlined, transparent process tailored for construction businesses. Tune in to learn how Bangert, Inc. supports the industry with Sage Intacct, fostering expertise and effectiveness for Customers nationwide. Don’t miss this conversation on reshaping construction project management and accounting practices!

About Kurt Bangert

As principal at Bangert, Inc. Kurt leads his 40-year family business into a new era of technology and service delivery related to the construction industry. They lead our industry in changing the way software has been implemented for decades by aligning ourselves and our customer's interests, being 100% transparent in our dealings, and offering our knowledge for free on the Bangert, Inc. YouTube channel.

About Reid Bangert

Deploying change as the third generation in his family’s 40-year business helping commercial contractors achieve productivity through applied technology. Reid champions continuous technology deployment. He has revolutionized how Customers deploy technology with their proven process, The Bangert Way: bangertinc.com

Kurt Bangert

Reid Bangert

SHOW NOTES

Segment one

  • (Sarcasm ahead) This might sound shocking to you but Bangert, Inc is changing the way software has been implemented for decades by aligning with their customers interests.

  • While transitioning the business to a new model of implementation, the Bangert team made the decision to offer their knowledge, for free, on their YouTube channel. Link is here: https://www.youtube.com/bangertinc 

  • Reid has a great hat on for the interview today. It says, “Digital First” and reminds the entire Bangert team to ask, “How can I use next generation systems to make the customer experience better?”

  • The whole beginning [of our company’s transformation] was, “We want happy employees because happy employees make happy customers.” That’s why the team STOPPED SELLING and spent many months building internal tools and processes to better support customers.

Segment two

  • Billing by the hour and one-to-one customer consultant assignments are the two components that make up the outdated billable hour business model. “The business model is set so that the cards are totally stacked against the customer.” —Kurt Bangert

  • Regarding a business model transformation at Bangert, Inc: “We also eliminated billing reviews, which was an instantaneous mood boost because I don't know if you've ever been through a time card review or filled out time cards. We got rid of time cards, of course, but let's just say no one really enjoyed that.”

  • Regarding the Bangert business transformation: “I knew that we would have some people self select and I knew that we would probably assist others in finding a better fit for employment. And they were all really good people.”

Segment three

  • At a video per day, the Bangert YouTube channel has everything from basic functionality in Sage products to construction accounting 101. Check it out here https://www.youtube.com/@BangertInc 

  • The first thing you want to know is, “What does it cost?” The Bangert website has a PRICING CALCULATOR front and center. Try it out at this link: https://bangertinc.com/sage-intacct-construction/pricing-calculator/ 

  • “Kurt mentioned the transparency. For me, it's not only about the transparency, but the customer experience through and through.” Reid Bangert

Segment four

  • Regarding a transition to the subscription model: “As long as you still think about job costing a project, you will never be successful.” —Kurt Bangert

  • What has a subscription model done to the Bangert customer makeup? Now that it is on the Bangert team to provide continuous value, “it attracts a more sophisticated buyer.” Well said, Reid! 

  • “We've been able to cut implementation time by 50% and the cost of implementation by 70%.” —Kurt Bangert

  • “Ask Richard” is an LLM based chatbot for Sage Intacct users. It’s so much more than that and you can start learning about it here: https://www.constructiondive.com/press-release/20241018-bangert-inc-unveils-ask-richard-a-free-web-platform-powered-by-a-propr/

  • A big THANK YOU to both Kurt and Reid Bangert for joining us today. They have an enterprise software pricing calculator on their website as well as a YouTube channel with over 1,300 videos. Check them out here https://bangertinc.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 #513: Interview with SEC Commissioner Hester M. Peirce

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: In this insightful episode of The Soul of Enterprise, Ron and Ed are joined by SEC Commissioner Hester M. Peirce, famously dubbed “CryptoMom” for her forward-thinking views on cryptocurrency and blockchain regulation. They’ll dive into her perspectives on a range of pivotal topics currently reshaping the financial landscape including PCAOB (Public Company Accounting Oversight Board), particularly its oversight roles and evolving challenges in today’s regulatory environment, ESG (Environmental, Social, and Governance) reporting in financial markets and, of course, Bitcoin and other cryptocurrencies, with Commissioner Peirce offering her thoughts on how the regulatory framework should evolve to encourage innovation while protecting investors. Join Ron and Ed for this fascinating and timely discussion with one of the SEC’s most outspoken and influential commissioners.

SHOW NOTES

Segment one

  • As with many career paths, her role at the SEC was not necessarily intentional. Commissioner Peirce has a degree in economics and a Yale Law School degree.

  • “Do you think CPAs should have a monopoly on audit?” - I can’t do Commissioner Peirce’s answer justice in 280 characters. It’s at the start of the show today and will be available in about 1 hour on all of the major podcast platforms.

  • “One of the reasons people come here to raise capital is because they know that they can trust the financial statements of the companies they're investing in” —Commissioner Peirce

  • From Commissioner Peirce: “We are Not the Securities and Environment Commission - At Least Not Yet” https://www.sec.gov/newsroom/speeches-statements/peirce-climate-disclosure-20220321 

Segment two

  • The history of the Securities and Exchange Commission dates back to the Wall Street crash of 1929. If you’ve not previously read the background, here is a starting point: https://en.wikipedia.org/wiki/U.S._Securities_and_Exchange_Commission  

  • This is a great principle identified by Commissioner Peirce during our conversation: “The basic point that we need to remember as a regulator is that we have a job to do. And we have to prove our cases. […] And that's a good thing for administrative agencies to remember.”

  • “We want to keep as dynamic of a competitive playing field as we can. […] And so we really need to fight to keep those barriers to entry low.” —Commissioner Peirce

Segment three

  • “Our capital markets work so well in this country, and one of the things that makes me sad is that we're not seeing more Americans participate in those markets, either as investors or as founders of companies.” —Commissioner Peirce

  • Regarding private equity: “We want to make sure capital is flowing into every corner of our economy. And one of the ways that capital comes in is through private equity. […] I think it's very healthy to have a dynamic market” —Commissioner Peirce

  • Confused about the SEC? This is helpful from Commissioner Peirce: “We are a civil agency. We can't put anyone in prison. […] but it's the Department of Justice that will put people in prison if that's if that is going to happen.”

Segment four

  • A great listener question from Joe Woodard today, “Are there plans for the US to have its own digital regulator?” There’s more to the question and a rather thorough answer from Commissioner Peirce in segment four of the show.

  • A big THANK YOU to Commissioner Peirce for joining us today. The podcast will be available in about an hour and the show notes will be published on Monday at TheSoulofEnterprise.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 #512: Outstanding Olio

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: It has been a few months since Ron and Ed emptied their stacks of stuff that have accumulated regarding all things pricing, subscription, and business in general. To correct that, this week's episode will do just that. Featured will be some posts from the Subscribed Institute, a story about a Dallas wine club, Mozart, and more. Settle in with a nice glass of your favorite fall wine.

SHOW NOTES

Segment one

Segment two

Segment three

Segment four

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 #511: Top Ten (or so) Pricing Principles

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: In this episode of The Soul of Enterprise, Ron and Ed dive into the transformative world of pricing strategies. Pricing is more than just setting a number—it’s about understanding and conveying the true value of outcomes. Together, they explore the common pitfalls of cost-based pricing, the importance of focusing on utility, and how consultants can command higher prices by focusing on transformations rather than time spent. They’ll discuss the need to apply the same creativity to pricing that consultants apply to solving business problems, and why having the courage to walk away from negotiations can actually increase your pricing power. Other topics include providing pricing options, leveraging the power of transparency in expectations, and avoiding the trap of negotiating solely on price. Whether you’re a consultant, business owner, or service provider, this episode will challenge you to rethink your approach to pricing and provide practical tips to boost your profitability by focusing on the value you deliver. Tune in to learn why leading companies never limit their profitability—and neither should you!

SHOW NOTES

Segment one

  • Pricing principle: Remember that transformations command higher prices than services.

  • “There's a universal desire to become healthier, wealthier and wiser period. That's true for all of us.” —Ron Baker

  • From Ed today (and often quoted), “Common offerings command a common price, but uncommon offerings command and uncommon price.”

  • Pricing principle: Use your costs as a floor, not a ceiling. None of the world’s leading companies put a limit on their profitability, and neither should you.

Segment two

  • Pricing principle: Provide pricing options, but never ranges. When discussing options, don’t focus on the amount, focus on the difference.

  • “If you picked up anything off the shelf and saw a price range on your can of soup or your box of cereal, you'd be annoyed. And your customers are annoyed when they hear a range.” —Ron Baker

  • Pricing principle: Apply the same creativity to pricing as you do to solving your customer’s business problems.

  • Pricing principle: Price when you have the most leverage. A service needed is worth more than one that has been delivered.

Segment three

  • Ask a question of Ron or Ed…..OR ask a question of an upcoming guest. From any device, just use this link https://www.thesoulofenterprise.com/questions 

  • Will you be in Vegas on October 25th? Ron will be speaking at the Professional Pricing Society. More information here: https://www.pricingsociety.com/ppsvegas24 

  • Pricing principle: Signal early in the process that you’re willing to walk away, you’re not a supplicant to your customer.

  • Pricing principle: Insist on transparency of expectations in place of transparency of costs and hours. Costs are the seller’s concern, not the buyer’s. 

  • Pricing principle: Never negotiate on price. If you reduce price, reduce value. Otherwise, you impair your pricing integrity.

Segment four

  • Pricing principle: Always structure payment terms upfront (no billing work in progress in arrears).

  • Pricing principle: Stop running away from risk — embrace it. All profits originate from risk, especially supernormal and windfall profits. Actuaries price risk, so can we.

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.