The Soul of Enterprise: Business in the Transformation Economy by THRESHOLD

We throw the word strategy around so much that it risks becoming meaningless. Is it a plan? A budget? A list of goals? In this episode of The Soul of Enterprise, Ron and Ed revisit the meaning of strategy through the lens of John Hillen’s book The Strategy Dialogues: A Primer on Business Strategy and Strategic Management. Strategy, Hillen argues, is not chosen — it’s designed. It’s not about squeezing more juice from today’s orange but positioning for tomorrow’s orchard. From Netflix’s reinvention to Hilti’s leap into tool leasing, from LEGO’s brand extensions to Cirque du Soleil’s circus transformation, we’ll explore how strategy creates sustainable advantage by being different, not just better. Join us as we unpack the difference between strategy and business models, between planning and thinking, and between reacting to the present and shaping the future. If you’ve ever wondered whether your “strategic plan” is really a strategy, this conversation will challenge, clarify, and inspire.  

For years, GDP has been treated as the ultimate scorecard of economic performance. But GDP only measures final goods and services. It’s like judging a business by gross margin while ignoring sales. Economist Mark Skousen’s innovation, Gross Output (GO), fixes that. GO is the “Top Line” of the economy—capturing total sales and revenues at every stage of production, from raw materials to finished goods. GDP, in contrast, is the “Bottom Line,” measuring only what reaches final use. Together, they tell the full story, just as accountants need both revenue and profit to understand a business. This broader lens matters. GO reveals that business spending and investment drive about 60% of economic activity, with consumer spending closer to 30%—not the oft-quoted two-thirds. It also serves as a leading indicator: GO plunges deeper in recessions and rises faster in recoveries, signaling turning points before GDP does. For accounting and finance professionals, GO restores the supply chain to center stage and gives us a more accurate, dynamic picture of economic life. If GDP is the bottom line, GO is the top line—and both are needed to grasp the true soul of enterprise. ICYMI: Mark Skousen first appeared on The Soul of Enterprise in Episode #205 (August 18, 2018), where he discussed the origins of GO, its adoption by the Bureau of Economic Analysis (BEA), and how GO often doubles GDP in scale—even suggesting a leading indicator role for GO over GDP.

Sometimes the best conversations come from the stories that don’t neatly fit into a single theme—but are too good to ignore. In this week’s episode of The Soul of Enterprise, Ron and Ed bring you a lively grab bag of pricing and business news, insights, and oddities they’ve collected from around the world. From surprising trends in how companies set prices, to cautionary tales in leadership, to the occasional “you-can’t-make-this-up” moment from the marketplace, no topic is off limits. Tune in for sharp commentary, unexpected connections, and a little controlled chaos.

On their first independent episode, Ron and Ed will share some thoughts on the new format, the transformation economy, their new entity (THRESHOLD), and their Jerry Maguire mission statement to the professions entitled The REVELATION.  From the Preamble We affirm that the raison d’être of business is not profit, but human flourishing. Profit is the echo of value well delivered, the index of one's contribution to the health, wealth, wisdom, purpose, and meaning of others. It is a signal of trust earned and lives elevated. But profit is not the aim. It is the applause, not the performance. It is evidence, not essence.

Despite Ben Franklin’s witticism, time is not money. In economic reality, money is time. That’s because we buy things with money, but we pay for them with time. In this episode of The Soul of Enterprise, Ed and Ron explore how consumers, firms, and even the Federal Reserve are starting to measure value not in dollars, but in time well spent. Drawing on a May 2025 article in the White Hutchinson Leisure eNewsletter, and the 1997 Federal Reserve Bank of Dallas report Time Well Spent: The Declining Real Cost of Living in America, the conversation covers: Why experience-based businesses have been flourishing since Joe Pine and James Gilmore identified the Experience Economy How to think about “valueflation” The profound economic insight that goods are getting cheaper, freeing up more time to enjoy life, and spend on experiences and transformations Whether you’re an accountant, entrepreneur, or simply a lover of liberty and leisure, this episode will challenge how you think about time, productivity, and pricing.

Ron and Ed explore the legacy and leadership lessons of Fred Smith, the visionary founder of Federal Express. From a bold undergraduate paper (legend has it that he only got a C+) to building one of the world’s most transformative logistics companies, Smith’s journey is a case study in perseverance, innovation, and strategic execution. We’ll unpack what made him not just a successful entrepreneur but a memorable mentor, both to his team and to an entire generation of business leaders. Tune in to discover the values, decisions, and mindset that helped shape the global economy, one overnight delivery at a time.

In his unprecedented ninth appearance with Ron and Ed, Joe Woodard will share his thoughts on the learning from the Woodard Group's Scaling New Heights 2025 event and also give a small sneak peek at next year! As always, the conversation will be fast, furious, and wide-ranging. More specifically, with hundreds of billions being invested in agentic AI, the next six months might see more change than the last six years! 

Ron and Ed welcome Nick Asbury to a conversation about his book, The Road to Hell: How purposeful business leads to bad marketing and a worse world And how human creativity is the way out.  From the book jacket The road to hell is paved with good intentions, says the proverb. Never has that been truer than in the case of corporate purpose, the movement that took over the business and advertising world following the financial crisis of 2008. Guided by the mantra ‘do well by doing good’, businesses embraced a social purpose agenda that sought to align doing good for society with doing well in the marketplace. The result, according to author Nick Asbury, has been a wave of humourless and hubristic advertising, and a spiral of worse social outcomes, as businesses wade into issues beyond their remit, while neglecting their real ethical responsibilities. Diving into examples including Bud Light, Patagonia, Cadbury and Unilever, Nick Asbury builds a compelling case against purpose – covering what it is, where it came from, how it leads to worse marketing, and how it leads to worse social outcomes. As a positive alternative, he makes the case for creativity, cognitive empathy and valuing the human over the corporate.  Amid the fierce and topical debate about purpose and corporate politics, The Road to Hell is a sharp and entertaining intervention, shedding light on how we got here – and where we go next.

In this episode of The Soul of Enterprise, hosts Ron Baker and Ed Kless are joined by Barry LaBov, founder and CEO of LABOV Marketing Communications and Training. A two-time Ernst & Young Entrepreneur of the Year and inductee into the Entrepreneur of the Year Hall of Fame, Barry brings a wealth of experience in brand differentiation and leadership. He has authored over a dozen business books, including The Power of Differentiation, and has collaborated with iconic brands like Harley-Davidson and Audi. Beyond his marketing acumen, Barry’s background as a musician and songwriter adds a unique perspective to his approach in business. In this conversation, they delve into strategies for uncovering and celebrating what makes brands unique, fostering employee engagement, and building customer loyalty. About Barry Barry LaBov is the founder and CEO of LABOV Marketing Communications and Training, specializing in brand differentiation. A two-time Ernst & Young Entrepreneur of the Year, he has authored over a dozen business books and collaborated with brands like Harley-Davidson and Audi. Barry’s unique approach integrates his musical background, enriching his creative strategies in business.

In this episode of “The Soul of Enterprise,” hosts Ron Baker and Ed Kless engage in a dynamic conversation with Dr. Jackie Meyer, a trailblazer in the accounting profession. As the founder of TaxPlanIQ and host of “The Concierge CPA” podcast, Dr. Meyer has been recognized as a “40 Under 40” honoree since 2018. She is renowned for her innovative approach to tax planning and her commitment to enhancing the health, wealth, and relationships of accounting professionals. In this insightful discussion, Dr. Meyer shares her journey from establishing an award-winning CPA firm to developing a SaaS tax advisory platform. She delves into her trademarked ROI Method™, which emphasizes value-based pricing and addresses cultural challenges within firms to combat burnout and turnover. Listeners will gain valuable insights into transforming accounting practices, the impact of AI on the profession, and strategies for achieving a sustainable work-life balance. Guest Bio Dr. Jackie Meyer is a distinguished figure in the accounting industry, celebrated for her innovative contributions and leadership. As the founder of TaxPlanIQ, she has revolutionized tax advisory services with a platform that streamlines tax planning and implementation. Dr. Meyer also hosts “The Concierge CPA” podcast, where she shares insights and best practices for accounting professionals. Her dedication to the profession has earned her recognition as a “40 Under 40” honoree since 2018. Beyond her professional achievements, Dr. Meyer is committed to promoting better health, wealth, and relationships within the accounting community.

You’ve heard us talk tariffs. You’ve definitely heard us talk Trump’s tariffs. So this week, in a bold act of podcasting restraint, we’re doing something radical: no tariff talk whatsoever. Instead, we tackle a roundup of current business events—from curious market moves to eyebrow-raising headlines—with our signature commentary and a touch of irreverence. Think of it as a tariff-free zone for your brain. You’re welcome.

In this episode of The Soul of Enterprise, Ron and Ed welcome Dr. Jeffrey A. Singer, a senior fellow at the Cato Institute and a seasoned general surgeon, to discuss his latest book, Your Body, Your Health Care. Dr. Singer delves into the erosion of patient autonomy in the modern healthcare system, attributing much of it to increasing government intervention. He advocates for a return to a patient-centered approach, emphasizing informed consent and individual sovereignty in medical decisions. The conversation explores the historical shift from medical paternalism to patient rights, critiques current regulatory frameworks, and offers insights into policy reforms that prioritize personal choice and freedom in healthcare. Guest Bio: Dr. Jeffrey A. Singer is a senior fellow at the Cato Institute’s Department of Health Policy Studies and the founder of Valley Surgical Clinics, Arizona’s largest and oldest group private surgical practice. With over 35 years in private surgical practice, he brings a wealth of clinical experience to his policy work. Dr. Singer is also a visiting fellow at the Goldwater Institute and serves on the Board of Scientific Advisors for the American Council on Science and Health. His research focuses on healthcare policy, patient autonomy, and the unintended consequences of drug prohibition.

Once again, it is time for Ron and Ed to get a few things off their chests. Not since October 2024's Outstanding Olio has there been such a collection of Friday Farrago, Glorious Gallimaufry, or even Holiday Hodgepodge. Join us as we make our way through this Mishmash of Miscellany. 

Ron and Ed sit down with Doug Reuter, the inventive mind behind the beloved board game Sequence. Doug shares the fascinating journey of bringing Sequence to life—a process that spanned four years of development, three years to secure licensing, and nearly another year before it hit store shelves in 1982. Beyond his success in the gaming industry, Doug delves into his political career, highlighting his two terms in the Minnesota House of Representatives. He discusses how his knack for strategy and rule-making in game design translated into his legislative work, where he adeptly utilized procedural rules to navigate political challenges. Join us for an engaging conversation that explores the intersections of creativity, entrepreneurship, and public service. Guest Bio Doug Reuter and his wife, Nancy, are 19-year residents of Corinth, TX – a north suburb of Dallas. Married 54 years, they have two daughters, four grandchildren and a son who is deceased. Doug has a BA in Business Management with a minor in Business Finance. Doug is a Vietnam-era veteran - Honorably Discharged in 1972 after having served six years of combined active duty and active reserve service in the U. S. Navy. He has over 30 years of Senior Human Resource Management experience and was twice elected to the Minnesota House of Representatives where he served from 1997 to 2001. Legislative achievements include working single-handedly for 14 months to successfully re-establish the original Founders language regarding the House session opening prayer rule and successfully worked across the aisle with Representative Phyllis Kahn (D) Minneapolis, both in Committee and in a full House session, to kill Governor Ventura’s desire to establish a Unicameral Legislature in Minnesota. Doug is also the inventor of several board and card games including the family board game SEQUENCEÒ which has been continuously marketed for over 40 years, enjoys world-wide distribution and has sold over 20 million copies.

In this episode of The Soul of Enterprise, Ron and Ed welcome Paul Dunn, a 4-time TEDx speaker, award-winning entrepreneur, and chairman of B1G1: Business for Good. Paul shares his insights on how small businesses can make a massive impact through purpose-driven initiatives. From transforming customer connections to embedding giving into everyday business activities, Paul’s wisdom will inspire you to think differently about success and significance. Guest Bio Paul Dunn is a globally recognized business leader and speaker, known for his innovative approach to purpose-driven business. As chairman of B1G1, he has helped over 2,300 businesses create 150 million+ giving impacts worldwide. A recipient of the Global Lifetime Achievement Award for Service to the Accounting Profession, Paul continues to empower businesses to integrate impact into their core strategies.

What do David Allen's Getting Things Done, Daniel Susskind's A World Without Work, and AppleTV's Severence have in common? They are all on the mind of Ron and Ed's Guest for this episode, Joe Woodard. This will be Joe's record-extending EIGHTH appearance on T$oE. He is always an audience favorite. So buckle up! As always it will be a fast-paced wide-ranging conversation with him.

We are thrilled to welcome Mark Koziel, CPA, CGMA, as our guest on this episode of The Soul of Enterprise. Mark has recently been appointed as the President and CEO of the American Institute of CPAs (AICPA) and the Association of International Certified Professional Accountants, effective January 2025. Prior to this role, he served as the President and CEO of Allinial Global, an association of independent accounting and advisory firms. With over 25 years of experience in accounting and leadership, Mark has been a consistent advocate for the profession, bringing a global perspective to the evolving landscape of accounting and finance.  In this episode, we delve into Mark’s vision for the future of the accounting profession, discussing the challenges and opportunities that lie ahead. We explore his journey from public accounting to leading major professional organizations, and how his experiences have shaped his perspectives on leadership, innovation, and the role of accountants in today’s dynamic business environment. Join us for an insightful conversation as we uncover the insights and strategies that have propelled Mark to the forefront of the accounting world, and learn how he plans to steer the profession into the future.

Ron and Ed unveil their bold new venture—THRESHOLD. In this episode, they share the vision behind the company, why it matters now, and how it aims to challenge the status quo in advisory and consulting. THRESHOLD is more than a brand—it’s a mindset shift for professionals ready to think beyond billable hours and transactional models. If you’re looking for transformation, not just iteration, this is your call to cross the threshold with us.

Ron and Ed break down the latest tariff policies of President Donald Trump, offering a free market critique of its implications. They explore how tariffs function as hidden taxes on consumers, challenge the idea of using protectionism as economic strategy, and examine the historical consequences of similar policies. With their signature blend of insight and humor, they discuss what this could mean for trade, inflation, and entrepreneurial freedom.

In this episode, Ron and Ed dive into one of the most influential and debated essays in business and economic thought: Milton Friedman’s The Social Responsibility of Business Is to Increase Its Profits. Published in The New York Times in 1970, Friedman’s argument that businesses should focus solely on maximizing shareholder value while operating within the law sparked decades of debate about corporate ethics, stakeholder capitalism, and the role of business in society. Ron and Ed will unpack Friedman’s perspective, discuss its implications for modern businesses, and explore how it contrasts with contemporary views on corporate social responsibility (CSR) and ESG (Environmental, Social, and Governance) initiatives. Is Friedman’s argument still valid in today’s world, or has the definition of corporate responsibility evolved? Tune in for an insightful discussion on one of the most enduring ideas in free-market economics. 📖 Read Friedman’s original essay: The New York Times