The Soul of Enterprise: Business in the Knowledge

Thomas Sowell has written that “Profits are perhaps the most misconceived subject in economics.” Join Ed and Ron as we explore R. David McLean’s superb new book, The Case for Shareholder Capitalism: How the Pursuit of Profit Benefits All. Rooted in mutual benefit and prosperity, shareholder capitalism fosters an environment where individuals thrive. Shareholder capitalism upholds the belief that profit serves as a catalyst for societal progress, driving innovation and growth. Contrary to misconceptions, shareholder capitalism prioritizes long-term value creation over short-term gains. We will contrast shareholder capitalism with stakeholder capitalism, emphasizing the importance of clear accountability and benefits for all stakeholders. The transformative power of shareholder capitalism in shaping a world where prosperity knows no bounds is wonderous. Join us on this journey of discovery, where profit paves the way for a world of flourishing for all.

Much digital ink has been spilled and podcast conversations had about the dearth of both accounting degree graduates and CPAs. In this episode, Ron and Ed will explore the topic including the 150-hour rule, reciprocity, licensure, and what are the possible ways to avert a crisis. If you have any questions about this topic, please send them to asktsoe@verasage.com or post on X and tag @asktsoe.

Ron and Ed are thrilled to have Magatte Wade back on the The Soul of Enterprise to talk about her new book, Heart of a Cheetah: How we have been lied to about African poverty and what that means for human flourishing. Magatte Wade is a bold Senegalese entrepreneur and unflinching prosperity activist, determined to shape the destiny of her African homeland. In her riveting memoir, she challenges Africans to redefine their narrative, casting aside imposed inferiority to reclaim their innate brilliance. ? This is not a recounting of poverty and politics. It's an indictment of a world that views Africa as nothing more than a colonial chessboard, with charity acting as the block that keeps Africans stuck.

Well, it has happened again, Ron and Ed's stacks of stuff are bursting beyond their britches, so it is time to trot out some alliterative alchemy to rightly rectify the seriously sticky situation. Okay, enough already. Just sit back and enjoy the ride.

Ron and Ed welcome for an unprecedented sixth time, Joe Woodard. As always this will be a wide-ranging conversation but likely topics include: plussing your offering, why people don't value your offering and what to do about it, the future of CAS, and, maybe, just maybe, Apple Vision Pro.

Join Ron and Ed as we dive deep into the dynamic world of subscription business models. With the landscape constantly evolving, we'll bring you the latest insights and happenings that are shaping the future of subscriptions. Whether it's the introduction of new technologies, shifts in consumer preferences, or innovative strategies companies are adopting to retain subscribers, we've got it covered. Stay ahead of the curve and understand what these changes mean for businesses and consumers alike. Don't miss out on this insightful update – tune in to stay informed!

Ron and Ed are joined by Scott Reib who is known as “America’s Legal Coach.” For the last two decades, Scott is a firm believer that legal advice doesn’t have to be expensive or intimidating. His passion lies in changing the way we view legal counsel: from “emergency” situations to “primary care provider” relationships. Scott is shifting this perspective via Access Plan, his groundbreaking subscription-model legal service, where he helps clients understand their legal questions before they find themselves in a legal emergency.

Join Ed and Ron for our interview with EisnerAmper’s Chairman and CEO, Michael Breit, for a discussion of private equity in accounting, including how EisnerAmper’s changed its governance structure. We'll also discuss the advantages and disadvantages of these alternative structures, and how private equity will impact the future of firms.

In an engaging email exchange between Ron and Reilly Newman, a Brand Scientist, Reilly shares his insights and challenges while reading the book Time's Up! He is particularly interested in applying the subscription business model to his brand creation business but faces difficulties in transitioning from a consultancy approach to a subscription-based service. Through their conversation, they explore creative solutions and strategies, including the idea of offering a brand transformation program and incorporating ongoing value into subscription packages. Join Ed and Ron as they discuss these ideas and how they apply to professional firms.

In an engaging email exchange between Ron and Reilly Newman, a Brand Scientist, Reilly shares his insights and challenges while reading the book Time's Up! He is particularly interested in applying the subscription business model to his brand creation business but faces difficulties in transitioning from a consultancy approach to a subscription-based service. Through their conversation, they explore creative solutions and strategies, including the idea of offering a brand transformation program and incorporating ongoing value into subscription packages. Join Ed and Ron as they discuss these ideas and how they apply to professional firms.

Growth for growth's sake is the ideology of a cancer cell, not a sustainable business. Yet, the myth of growth and market share persists. Grow market share! You must be scalable! We are told over and over, and profits will follow. Horse hockey! as Col. Sherman T Potter would say. This week Ron and Ed will share their thoughts on why this pernicious myth does far more damage than good especially in the professional service space.

Growth for growth's sake is the ideology of a cancer cell, not a sustainable business. Yet, the myth of growth and market share persists. Grow market share! You must be scalable! We are told over and over, and profits will follow. Horse hockey! as Col. Sherman T Potter would say. This week Ron and Ed will share their thoughts on why this pernicious myth does far more damage than good especially in the professional service space.

What does the future hold for accounting/ERP systems? There is no one better on the planet better to answer this question than Aaron Harris, Sage's Global CTO. Aaron is responsible for Sage’s technology strategy and software architecture. He has more than 20 years of high-tech engineering experience in business applications and software development strategies. Previously a founding leader of Sage Intacct, acquired by Sage in 2017, Aaron led the company’s product vision and technology direction, establishing Sage Intacct as the innovation leader in cloud financial management solutions.

What does the future hold for accounting/ERP systems? There is no one better on the planet better to answer this question than Aaron Harris, Sage's Global CTO. Aaron is responsible for Sage’s technology strategy and software architecture. He has more than 20 years of high-tech engineering experience in business applications and software development strategies. Previously a founding leader of Sage Intacct, acquired by Sage in 2017, Aaron led the company’s product vision and technology direction, establishing Sage Intacct as the innovation leader in cloud financial management solutions.

Inspired by an article by former TSOE guest B. Joseph Pine II, and James H. Gilmore, Ed and Ron will explore how businesses--including professional firms--can stop wasting the customer's time. Strategies for helping customers save time, and invest it well will be explored.

America was once the world’s dream factory. We turned imagination into reality, from curing polio to landing on the Moon to creating the internet. But as we moved into the late 20th century, we grew cautious, even cynical, about what the future held and our ability to shape it. Too many of us saw only the threats from rapid change. What caused this to happen? More importantly, what can we do to change it? Ron and Ed are thrilled have someone who has squarely addresse these questions. Jim Pethokoukis is the author of The Conservative Futurist: How to Create the Sci-Fi World We Were Promised. Jim is a senior fellow and the DeWitt Wallace Chair at the American Enterprise Institute (AEI), where he analyzes US economic policy, writes and edits the AEIdeas blog, and hosts AEI’s Political Economy podcast. He is also a contributor to CNBC and writes the Faster, Please! newsletter on Substack.

Unfortunately, our Guest fell ill, and could not join us, but don't worry pros play hurt, so Ron and Ed have called an audible, and will be punting to a pine on some stuff in the stacks.

On this week's episode Ron and Ed welcome Colin Grabow of the CATO Institute's Herbert A. Stiefel Center for Trade Policy Studies to talk about the Jones Act (aka Merchant Marine Act of 1920) which regulates maritime commerce in U.S. waters and between U.S. ports, oh, and, makes stuff more expensive for all of us while benefitting a select few. You will learn the main reason why food and other sundry items are more expensive in Hawaii and Puerto Rice; why the Northeast US imports natural gas from Russia instead of getting it from the US; and many more insanities.

What does it mean to say I have a right to something? In this thought-provoking episode, Ron and Ed will delve into the distinct realms of negative and positive rights, exploring how they shape our understanding of individual liberties and societal obligations. Join us as we unravel the philosophical, practical, and even business implications of these two concepts, challenging preconceptions and fostering a deeper appreciation for the complexities of rights discourse.

In the second of our annual beginning of the year episodes, Ron and Ed will recap their best books of 2023. Many listeners considers this the most expensive episode of the year as their anti-libraries tend to grow while listening. If you have a best book to share, please email us at asktsoe@verasage.com or hit us up with a X post @asktsoe.