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.

Ron and Ed (well, just Ed, really) announced their transition from VoiceAmerica to their own platform. The show will continue streaming on Fridays at 3 PM Eastern/Noon PT, with the streams available at thesoulofenterprise.com or thresholdnow.com/tsoe.

In addition to a few announcements, Ed shares the audio version of the Preamble to the REVELATION - a mission statement outlining their vision for the Transformation Economy focused on human flourishing.

We are also seeking new sponsors and invite emails at [email protected]. 

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.