Episode #512: Outstanding Olio

Business Podcast Archive and Shows - The Soul of Enterprise

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

• A wine warehouse in Dallas noticed that customers were coming in and chatting with each other so they started offering food. Now, it’s the hottest member-only restaurant in North Dallas https://www.dallasnews.com/food/restaurant-news/2024/10/09/55seventy-wine-cellar-dallas-great-food/

• Do you have half the average household income in America in expendable cash? The barbell effect has an option to take your money. As Ron and Ed both say, “Healthier, wealthier, wiser” https://www.economist.com/business/2024/09/26/the-rise-of-the-40000-gym-membership

• Here’s a statistic I didn’t expect to hear today, “40% of restaurants awarded a Michelin star in 2005 to 2014, closed by the end of 2019.” Why? The expectations are significantly higher once a star is awarded. https://www.economist.com/business/2024/09/24/the-curse-of-the-michelin-star

• Ron and Ed are not fans of surcharges but did bring attention to this article from a Professional Pricing Society member on LinkedIn https://www.linkedin.com/pulse/surcharges-new-revenue-source-vs-cause-failure-danilo-zatta-phd-mba-kkgfe/

Segment two

• A new Mozart single just dropped on Spotify. Yes, Mozart…you read that correctly. https://www.avclub.com/new-mozart-single-just-dropped

• “Intuit's Tax Breakup Campaign Sparks Strong Response from the NATP” via @WoodardCompany https://report.woodard.com/articles/intuits-tax-breakup-campaign-sparks-strong-response-from-the-natp-fpwr

• Who remembers Quicken MacInTax? https://www.amazon.com/Quicken-MacInTax/dp/B00P2YCRZA

• “We figured out a long time ago that if we bundled and gave a fixed price and added access, we could charge a much higher price.” —Ron Baker

Segment three

• Since 2019 the “big four” accounting firms have increasingly found themselves on the hook for multimillion-dollar fines and settlements https://www.economist.com/business/2024/09/19/pwc-needs-to-rethink-its-global-governance

• Congratulations to Mark Koziel, a three time guest on The Soul of Enterprise, for his new CEO appointment! https://www.aicpa-cima.com/news/article/mark-koziel-new-aicpa-cima-ceo

• The new Starbucks CEO is quoted in the Wall Street Journal as saying, “We will be the community coffeehouse known for great coffee” https://www.wsj.com/business/hospitality/starbucks-coffee-discounts-strategy-ceo-dcbde38b

• “To me, Starbucks illustrates a glaring issue, which is, you cannot solve non pricing issues with pricing. […] Pricing, kind of like advertising, will just exasperate the problem.” —Ron Baker

Segment four

• Here is some recent research from the Subscribed Institute. Keep in mind that they reference usage based fees and we already have those. They are called hourly rates. https://www.zuora.com/resource/the-future-of-genai-pricing-metrics-and-models/

• Taco Bell Introduces ‘Name Your Price Tool’ On Its App For Diners On A Budget https://www.foodbeast.com/news/taco-bell-introduces-name-your-price-tool-on-its-app-for-diners-on-a-budget/

• Spoiler alert in segment four! If you have not watched A Gentleman in Moscow yet, Ed talks about some of the great lines from the show https://www.paramountplus.com/shows/a-gentleman-in-moscow/

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.