Episode #507: Interview with Brand Scientist, Reilly Newman of Motif Brands

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 Reilly Newman to explore his manifesto: the powerful intersection of science and strategy in business. Reilly emphasizes the importance of clarity as a driver of growth, helping business leaders make confident decisions that align with their vision. He discusses how simplifying complex processes can uncover opportunities for pure progress and ensure that your business remains a cornerstone of your life. Tune in to discover how clarity not only reveals where growth exists but also how it serves as a foundation for future success and informed business decisions

SHOW NOTES

Segment one

• At the beginning of the show, Ron asked Reilly how he became obsessed with brands. He loves that design is creative and artistic but Reilly also loves that it has a purpose. 

• Reilly co-founded Motif Brands. A motif is a recurring pattern throughout a story that reinforces the main story arc. Reilly takes that idea and applies it to brands at Motif Brands.

• “Business is transactional. A brand is relational.” —Reilly Newman, Motif Brands

• “If marketing were done perfectly, selling would be unnecessary.” —Peter Drucker

Segment two

• Financial Cents is having a virtual conference called Workflow Con (for conference) on October 22/23. It’s FREE! Find out more at WorkFlowCon.com

• How does Reilly define “brand”? It’s a collection of impressions we have regarding a certain entity. 

• Regarding a CMOs inevitable desire to refresh or change a brand, “Rebranding a company shows effort…but really, are you getting rid of these core assets that have helped build the brand to that point?” —Reilly Newman

• On the relationship between brand and culture, Reilly comments: “Culture is a by-product of brand. Brand gives a consumer clarity and culture is a manifestation of that clarity.”

Segment three

• The power of sound in branding, sonic branding, is extremely hard to trademark but there are some good examples. NBC and Harley-Davidson are two examples that came to mind during the show

• By the way, Reilly Newman has a GREAT podcast called “Brandy” which is about all things brand. Check it out here: https://podcasts.apple.com/us/podcast/brandy/id1737030138 

• The lifetime value of the customer is often neglected especially with older brands. For example, in the automobile industry. They are more focused on the transaction and less so on the relationship.

• Ron asked Reilly about his pricing philosophy at Motif Brands. GREAT answer by quoting Warren Buffet with, “Pricing is what you pay, value is what you get.”

• Name the brands that you truly admire, Reilly: Disney, Apple, Trader Joe’s, and….of course, Costco. 

• The Professional Pricing Society is having their next conference in Vegas in October. Ron is one of the keynote speakers and you can find out more at PricingSociety.com

Segment four

• Ed asked Reilly about Starbucks and their brand. In summary, they’ve lost so much in terms of small touch points in the experience. Higher efficiency comes at the sacrifice of personalization.

• This is on brand for Reilly (see what I did there?) …. “Know yourself, be distinct, and have that clarity.”

• A big THANK YOU to Reilly Newman for joining us today. Check out Motif Brands and also his book, “Brandy: 101 Sips of Wisdom For Attaining A Successful Brand https://www.amazon.com/Brandy-Wisdom-Attaining-Successful-Brand/dp/B0C9S7Q7Q8 

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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 #506: Bantering with Bastiat: Timeless Truths from a Free-Marketer

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 unique episode of The Soul of Enterprise, Ron and Ed embark on a journey through time as they "interview" the legendary 19th-century French economist, Frédéric Bastiat. Thanks to AI technology, ChatGPT will bring Bastiat back to life, offering insights in his signature style on some of today’s pressing economic issues. From his famous concept of “the seen and the unseen” to his sharp critiques of protectionism, this virtual conversation delves into how Bastiat’s timeless ideas apply in our modern world. Join us for a thought-provoking dialogue that blurs the lines between history, economics, and technology in ways you’ve never heard before!

This was an AI-based show, so it only seems appropriate to provide AI-based show notes.

Discussion with Frédéric Bastiat via AI:

• Utilizing AI technology, the hosts engage in a conversation with a simulated Bastiat, discussing his core economic ideas, particularly "the seen and the unseen," which highlights the hidden costs of economic decisions.

• Bastiat explains the impact of overlooked consequences in economic policies, using examples like government spending that appears beneficial but has hidden trade-offs affecting other sectors.

Bastiat on Free Trade and Protectionism:

• The conversation delves into Bastiat's views on free trade versus protectionist policies, where he criticizes the latter for harming economic prosperity by limiting consumer choices and driving up prices.

• He articulates the irony and harm of protectionism using analogies and historical context, asserting that free trade benefits all sectors of the economy by fostering competition and innovation.

Satirical Take on Economic Policies:

• Bastiat, known for his satirical critiques, shares his famous "Candlemakers' Petition," a satirical plea to the government to block out the sun to boost the artificial light industry, showcasing the absurdity of certain economic policies.

• This segment underscores Bastiat’s method of using humor and absurdity to highlight irrational economic policies and encourage a more critical examination of governmental interventions.

Bastiat's Influence and Relevance:

• The episode wraps up by exploring Bastiat’s lasting influence on economic thought, discussing how his ideas remain relevant in addressing modern issues like climate change and technological disruption.

• The hosts reflect on how Bastiat’s principles can guide current and future economic policies, emphasizing the importance of balancing governmental intervention with market freedoms to foster true economic growth and innovation.

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 #505: Pushing Past Practical — Pursuing Purpose with Peter Block

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, Ed and Ron delve into the profound insights from Peter Block's book The Answer to How is Yes, especially his How? vs. What Matters questions. We'll explore these six pivotal questions that Block argues keep us trapped in our current way of thinking and prevent us from embracing true change. These questions, often disguised as practical concerns, subtly hinder our ability to innovate, take risks, and transform both ourselves and the world around us. Join us as we unpack the deeper meaning behind each question and discuss how shifting our mindset can open up new possibilities for leadership, creativity, and personal growth.

SHOW NOTES

Segment one:

• Ed wanted to kick off the show today with a quote from Lewis Carroll: Do we decide questions at all? We decide the answer no doubt, but surely, the question decides us.” 

• Today’s show is about Peter Block’s book from 2002, “The Answer to How Is Yes: Acting on What Matters” https://www.amazon.com/Answer-How-Yes-Acting-Matters/dp/1576752712

• Peter Block’s epigraph to the start of the book “The Answer to How is Yes” is “transformation comes more from pursuing profound questions and seeking practical answers”

• The premise of the book, “The Answer to How is Yes” is that there are roughly six questions Peter Block believes that we spend 90% of our time on in business https://www.amazon.com/Answer-How-Yes-Acting-Matters/dp/1576752712 

• The Finance and Accounting Tech Expo is on October 29-30. Over 1,400 of your colleagues have already registered and you can go for FREE. Just use the code kid812 at this link https://strategiccfo360.com/fate/ 

Segment two:

• The alternative to asking the “HOW” questions in Peter Block’s book is yes. It's a stance towards the possibility of more meaningful change. More at this link: https://www.amazon.com/Answer-How-Yes-Acting-Matters/dp/1576752712  

• One of Block’s questions in the book, “The Answer to How is Yes” is: What is the price I am willing to pay? This is all about value because the definition of economic value is the maximum price a customer is willing to pay for an item 

• 1/2 “When we follow fashion and ask for steps, recipes and certainty, we deny our freedom. For we are trapped by the very act of asking the question.” —Peter Block

• 2/2 “Freedom asks us to invent our own steps, to be the author of your own experience. Asking how is an escape from freedom and accountability. We wish to go to heaven, and not die.” —Peter Block

• This is the story of Frank. As told by Ed Kless on his website: https://www.edkless.com/blog/2023/10/the-story-of-frank 

Segment three:

• Ron will be keynoting the Professional Pricing Society conference in Las Vegas. He will be speaking about a favorite topic around here, time prices! Find out more at https://www.pricingsociety.com/ppsvegas24 #PPSVEGAS24

• “If you want tomorrow to look like yesterday, methodology will get you there.” —Peter Block (as a guest on The Soul of Enterprise)

• “There is no methodology for recovering our idealism.” —Peter Block https://www.amazon.com/Answer-How-Yes-Acting-Matters/dp/1576752712 

• Ed’s Triangle of Truth represents scope, cost, and time. At a high level, you want to keep these things in balance when managing a project. More here: https://www.verasage.com/verasage-institute/blog/pricing-on-purpose/the_triangle_of_truth 

Segment four:

• Both Ron and Ed will be at Digital CPA in December in Denver! We have a code that will get you $100 off. Visit https://www.cpa.com/digital-cpa and use DCPA100 as the offer code. See you there???

• “When our plate is full and we seek a change, knowing what we need to say no to is essentially an invention. Many acts of creativity can begin with a decision about what not to recreate.” —Peter Block https://www.amazon.com/Answer-How-Yes-Acting-Matters/dp/1576752712 

• “An idealist is one who follows their ideals, even to the point of impracticality.” —Peter Block 

• If you liked this episode, please check out Peter Block’s book “The Answer to How is Yes” at this link https://www.amazon.com/Answer-How-Yes-Acting-Matters/dp/1576752712 

• Also, do check out Peter Block’s MULTIPLE appearances on The Soul of Enterprise - episodes number 183 and 445 https://www.thesoulofenterprise.com/archive 

Buy on Amazon

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.