Ron and Ed welcome back strategy expert Tim Williams to explore a hard truth: AI is not just a new tool for professional firms, it is a structural shock to their traditional business model.

For decades, most firms have relied on time-based billing, headcount leverage, and labor-intensive processes. But when AI compresses project time and automates execution, what happens to a model built on hours? Tim argues that professional firms — from ad agencies to law firms — must rethink not just how they work, but how they price, position, and define value.

This conversation will dive into why AI accelerates the decline of cost-plus thinking, why intellectual capital is the real asset, and how professional firms can redesign their economics before the market does it for them. While Tim’s particular expertise is in the advertising/marketing business, the principles and practices he teaches apply to professional firms across the board.

If your revenue model depends on selling time, this episode may feel slightly uncomfortable. That’s the point. The future of the professional business won’t be determined by how much AI they adopt, but by whether they have the courage to change the way they get paid.

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The Soul of Enterprise show hosts, Ron Baker and Ed Kless, are on X (the artist formerly known as Twitter) at @ronaldbaker and @edkless, respectively (and obviously).