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- [00:00]
Capital One Bank Narrator
With no fees or minimums on checking accounts, it's no wonder the Capital One bank guy is so passionate about banking with Capital One. If he were here, he wouldn't just tell you about no fees or minimums. He'd also talk about how most Capital One cafes are open seven days a week to assist with your banking needs. Yep, even on weekends, it's pretty much all he talks about in a good way. What's in your wallet? Terms apply see capitalone.com bank capital1na member FDIC
- [00:31]
LinkedIn Ads Narrator
are your ad campaigns lighting up the dashboard but not the pipeline? That's bullspend and marketers are calling it out in dashboard confessions.
- [00:40]
James Reed
My boss asked for results, so I opened my dashboard for the only positive sounding metric I had impression Cut the bull, spend.
- [00:48]
LinkedIn Ads Narrator
See revenue, not just reach LinkedIn delivers the highest return on ad spend of major ad NETWORKS. Advertise on LinkedIn. Spend $250 on your first campaign and get a $250 credit. Go to LinkedIn.com campaign terms and conditions apply.
- [01:01]
Pacific Life Insurance Narrator
Confidence it's listening to your gut. It's moving forward even when the path ahead is unclear. For nearly 160 years, Pacific Life has helped people keep their promises, building confidence for generations. Whether you're confident in your financial future or just beginning to envision it, we're here to help ask a financial professional how Pacific Life the Power of a Promise Pacific Life Insurance Company Omaha, Nebraska and in New York, Pacific Life and Annuity, Phoenix, Arizona.
- [01:33]
Medupe Akinola
Hi listeners, It's Medupe, the host of TED Business. Summer is fully underway and that means we are well into 2026. I will never, ever be able to wrap my head around how quickly time moves. But as a way to process time passing, I'm going to do something a little different. I'm sharing a playlist of some of my favorite talks we've ever, ever aired on this show. So settle in as we take a trip down memory lane. All of these talks are so different from one another. That's what I've loved about hosting this show. Every week brings a different topic, a different approach, a different way of seeing and thinking. But I think if there's one overarching quality these five talks share, it's that they remind us that our relationships to work, to personal finance, to our colleagues, are all distinctly human. In an increasingly automated world, that idea can truly change everything. Whether the speaker is harnessing humor or vulnerability, or their own memories of growing up, these talks are anchored by compelling storytelling. They remind us that the professional doesn't mean sacrificing the personal and that all organizations are made up of people trying to figure something out together. You'll hear business leader Adam Wybrew make a case for talking about your anxiety in the workplace. President and CEO of Morehouse School of Medicine Valerie Montgomery Rice share how she stepped up to become a leader in her field. Director Barry Sonnenfeld on the lessons he's learned on set that can translate to the office goodwill strategist James Re on the power of kindness and nonprofit leader Aisha Yandoro on rethinking what wealth means. We all know what it feels like to be the new person at work. You show up on the first day feeling excited but a little nervous, not quite sure how things are going to go. You look around the office or maybe the Zoom Room trying to find a friendly face, and then you spot one. That smile or a pair of kind eyes can turn your whole day around and might even affect how you feel about the company. So while kindness from you to me or me to you can feel so good, is it possible to experience kindness at the organizational level? I'm Medupa Akinola. This is Ted Business. Our speaker today is impact investor James Reed. A couple of years ago, he became a first time CEO of a company that was struggling. He had to come up with some really creative solutions to keep the company alive. And interestingly enough, he chose kindness as a key tool. In this talk, he shares how maximizing kindness became the cornerstone of his strategy to keep the company afloat. And then after the talk, I'll share a few tips for making kindness part of your workplace culture. But first, a quick break.
- [04:52]
Capital One Bank Narrator
With no fees or minimums on checking accounts, it's no wonder the Capital One bank guy is so passionate about banking with Capital One. If he were here, he wouldn't just tell you about no fees or minimums. He'd also talk about how most Capital One cafes are open seven days a week to assist with your banking needs. Yep, even on weekends it's pretty much all he talks about in a good way. What's in your wallet? Terms apply. See capital1.com bank capital1NA member FDIC
- [05:22]
Pacific Life Insurance Narrator
confidence. It's listening to your gut. It's moving forward even when the path ahead is unclear. For nearly 160 years, Pacific Life has helped people keep their promises, building confidence for generations. Whether you're confident in your financial future or or just beginning to envision it, we're here to help. Ask a financial professional how Pacific Life the Power of a Promise Pacific Life Insurance Co. Omaha, Nebraska. And in New York, Pacific Life and Annuity, Phoenix, Arizona.
- [06:00]
James Reed
So today I'm going to talk about the word goodwill. Goodwill do did you know, is a technical accounting term. It's an asset that's literally only created when a buyer shows up and pays a purchase price for a company that's more than the fair value of that company's net assets. So this unexplained differential is named goodwill. And with it, accountants actually can make balance sheets balance. Now, of course, this isn't how most of us think of goodwill. We experienced the more human definition of goodwill. And I remember very clearly when that definition first entered my life. It was 1976 and I was five years old. And I was sitting there one morning in kindergarten class when in walked the father and older siblings of one of my friends. And they handed me a present. They gave me a little toy red helicopter. And in the moment, I didn't really understand why they were giving it to me. I just remember sensing that they were happy and sad at the same time. And it wasn't only until much later that I had my aha moment that my friend had lost his mom recently and that this gift, it was a thank you because I would often share my lunch with my friend on the many days that he would come to school without any lunch of his own. You know, over time, as things happened, I lost the toy. But I never forgot the lesson, especially how it made me feel. My friend's father had rewarded kindness without cheapening it, and he made it tangible with an object and he made it human in that exchange and he made it shareable with the story. And in doing all of this, he created real value out of thin air by turning kindness into a scalable collectively owned asset called Goodwill. You know, and then for many of us, my life, the years just passed at a dizzying pace and I collected a couple fancy degrees. I became a dad myself three times over. And I found myself wheeling and dealing as an investment banker and a private equity investor for many years. And the lessons from that red helicopter, they seemed incredibly childish and weirdly misguided in the world of business and finance because let's face it, non revenue generating investments in people, they're generally not measured, let alone rewarded. But something happened in the summer of 2013 that would forever change the way I thought about kindness, goodwill, and their roles in reshaping business. I was on a series of just deflating board calls involving a failed investment in a company called Ashley Stewart. Ashley Stewart is a clothing retail that has served and Employed primarily plus sized, moderate income black women in neighborhoods across America since 1991. And I felt accountable to my former employer, to my former investors, to the 1,000 plus employees at Ashley Stewart, and frankly to myself. Because I had saved this company from a near death bankruptcy filing just three years prior. And so this time I did something. I took an action. I made a choice. I resigned as chairman of the board. And I agreed to serve as a first time CEO of this broken company. But I agreed to do it just for six months. I just wanted to avert a nasty liquidation. And then I wanted to come home and get on with my life. I had immediate pangs of regret during those first few weeks at Ashley Stewart. The corporate headquarters was a converted warehouse. I just remember there being a lot of bugs. There was no WI fi at the headquarters and the stores didn't have computers. And because there was a lack of trust, there were vendors in the lobby demanding to be paid in cash up front. And because of them, a lot of my employees were scared. And so I ended up having to hire an armed security guard to protect them. And I felt alone. Like on every dimension you can think of. Geography, industry, gender, and yeah, race. My first town hall, it went something along these lines. Hi, I'm James. I've never done this before. You know, I may be the least qualified person to run this company, but I'm here and I'm willing to learn. Oh, and by the way, after this speech, I gotta head out to the dc, that's a distribution center. So I gotta head out to the D.C. and I gotta find stuff to sell to fund payroll. But don't panic because I think that if we can center kindness and math together, that maybe we can get out of this together. And I don't know why I said some of these things with my outside voice. I may have panicked just a little bit, but the words were true and they did come from my heart. And you know what happened was that the people who, who really wanted to solve these problems once and for all, they stepped up. And it was the women, it was the employees and customers alike at those stores in those neighborhoods across America who came forth. And they offered me insight after insight as we worked side by side together. And some of the customers, sensing that we were in a lot of trouble, they even offered to bring back their clothes hangers so that we could save money. You know, I know what you may be thinking. You might think, geez, there were a lot of reasons why that the ladies of Ashley Stuart might have rejected me. But they didn't. They did the exact opposite. And store after store sort of worked this way. They would say, you're James, like you're the new CEO of Ashley Stewart. Well, okay, well, let's go. And this played out in town after town, city after city, and their generosity toward one another and their kindness. To me, it just rekindled memories of the red helicopter. And I remembered the lesson that goodwill, like real goodwill, it is a real asset that can compound and be amplified independent of financial capital. So late, late nights, and I'm going to use these words very deliberately, it inspired me to compose, draw, design, create a new business plan with new mathematical formulas, operational protocols that were woven together with multi sensory storytelling whose singular purpose was to create real value driving real good work. The business plan fundamentally had three concentric spirals underpinning it. So first, we had the courage to establish a culture of kindness in the workplace. Period, end of story. It was a strategic priority day in, day out. And yeah, there were moments as individuals we failed. But as a collective, we were very successful in changing attitudes about the transformative power of kindness at work. Because you see what kindness does, it distributes the joy actually of problem solving to everyone. It creates a safe environment that unleashes innovation, especially the unselfish kind. And it turns perceived liabilities into assets, which, as any financial accountant will tell you, mathematically has to result in the creation of real equity value in every meaning of the word. Second, once we felt sure about the authenticity of the internal goodwill that we had co created, we just wanted to show the whole world and make it tangible to everybody. So by trusting our employees and our customers and by leveraging their smartphones and their social media platforms, we were able to scale our marketing and creative efforts very fast in a very low cost and organic way. We invited everyone in and we were able to merge ecosystems and blurring the lines between outsider and insider and them and us. And we were able to create a seat at the table for everyone, which by the way, enabled us to leverage the assets and the balance sheets of everyone. And third, once we centered goodwill, we had to center people. And it wasn't long before we realized we had to redo our financial formulas in our financial reporting. So payroll instead of being an expense, became an investment. And internal communications, well, that was just a great way to train and to teach. And the materials that we created became critical first stanzas of the overall narrative that was our brand song. And working capital, well, our vendors became effectively co investors and we would measure working capital as a Unit of trust that we were rebuilding together, step by step. And finally, human resources. Well, how could that possibly be a cost center? See, when you center on maximizing goodwill, it forces you to actually measure it. And you realize that despite what the rules of accounting might say, that it's operations and leadership and culture, that that actually create goodwill, not some outside source of financial capital. And it makes accounting actually accountable. And it isn't long also before you realize that the entire flow of your operations has to naturally follow suit. So to illustrate all of this, I'm gonna take you back to the holiday season of 2013, which was only four months removed from my sort of, mm town hall. We were out of money at this point and I was terrified. But we made a couple decisions that seemed to have long term importance for our efforts. So we hosted a really modest holiday party at a homeless shelter for women in Brooklyn, New York. And at this point, we didn't have anything to give. So we gave our time, we gave our hearts, and we found a few boxes of merchandise samples that we donated. And around that time as well, we organized a chain wide sales competition. The top 40 stores earned the right to donate $250 to a local charity of their own choosing. Together, these two things, the event, the party, the competition, they were just a way for us to say thank you and goodbye to the local neighborhoods and communities that had supported this company for 20 years. And the outpouring was just amazing. We saw real friendships that had been developed over those 20 years play out right in front of us in our newly installed E Comm platform. We operated in a way that accentuated that and connected people rather than diminishing humanity. And sales just exploded. And just like that, we had found a way to operationalize goodwill in our internal culture, in our outbound sales and marketing, but also, perhaps most significantly, in our incentive compensation system. They were all three spirals, mutually reinforcing each other. And we measured everything, you know, down the road as a strategy really took hold. And I was finally able to secure some financial capital and make some necessary technological investments. We just did the same thing, just over and over again on scale. So we rolled out something called the CEO Citizenship Award. That was the most prestigious, highest compensated bonus system in the company. It went to those employees who lived out the following credo. You act like an owner, be a good friend, be a good mentor. We never factored in sales or revenues into these determinations. Second, you know, our marketing team, our outbound facing consumer team, continued to do most of the most important Internal communications. And I, as a former high school teacher, I relished the fact that I could teach the principles of money, life and joy to my colleagues at Scale. And that really kind of sad holiday party, well, that evolved into something like big. We called it Finding Ashley Stewart. Which was an annual nationwide, year long search for unsung women leaders in our communities. It would culminate in front of 3,000 screaming fans at the Brooklyn Kings Theater in a star studded concert. And the best part of all of it was that the vendors, which by now included some of the world's leading tech and financial companies, they're the ones who funded all of this. You know, I ended up spending seven years at Ashley Stewart leading it so far from getting on with my life. It became part of my life, especially the friendships. And we had to make some tough business decisions along the way. And not everyone made it. But our overall strategy and philosophy generated staggering results. And yes, it showed up in our financial statements too. So within two years, we generated more in annual operating profit than we paid for all of the assets of the company. And our digital strategy, which never forgot to center the real friendships in the stores. It landed us on the stages of the most prestigious business conferences in the world celebrating our growth and our innovation. Only a few years removed from not even having WI Fi. And it wasn't long before the financial community, well, they changed their minds and they showed up at our headquarters, but this time with their checkbooks and they stroked us. A check that made us convert our real goodwill into accounting goodwill to the tune of, well north of $100 million. And I know that none of this would have been possible without the lessons that I learned from my friend's father way back in kindergarten. He invested dollars, but also his time and his heart into a little toy red helicopter in 1976. And in the way that he did it, it created a real asset called goodwill. And that goodwill compounded quietly for decades and, and then ultimately helped save a company around 1,000 jobs, a safe place for a really deserving group of women, and over $1 billion in overall economic productivity. And in doing so, he taught an enduring lesson that helped this grown man regain his balance, like a true balance, by remembering to slow down and to see the world through the eyes of a five year old child who knows unequivocally that there is one and only one definition of goodwill that creates real value in life and yeah, in business too. Thank you very much for listening.
- [21:35]
Capital One Bank Narrator
With no fees or minimums on checking accounts, it's no wonder the Capital One bank guy is so passionate about banking with Capital One. If he were here, he wouldn't just tell you about no fees or minimums. He'd also talk about how most Capital One cafes are open seven days a week to assist with your banking needs. Yep, even on weekends, it's pretty much all he talks about in a good way. What's in your wallet? Terms apply. See capitalone.com bank capital1na member FDIC
- [22:06]
Pacific Life Insurance Narrator
confidence it's listening to your gut. It's moving forward even when the path ahead is unclear. For nearly 160 years, Pacific Life has helped people keep their promises, building confidence for generations. Whether you're confident in your financial future or just beginning to envision it, we're here to help. Ask a financial professional how Pacific Life the Power of a Promise Pacific Life Insurance Co. Omaha, Nebraska and in New York Pacific Life Annuity, Phoenix, Arizona thumbtack presents uncertainty Strikes I was surrounded the aisle and the options were closing in. There were paint rollers, satin and matte finish, angle brushes, and natural bristles. There were too many choices. What if I never got my living room painted? What if I couldn't figure out what type of paint to use? What if I just used Thumbtack? I can hire a top rated pro that knows everything about interior paint, easily compare prices and read reviews. Thumbtack knows homes. Download the app today.
- [23:14]
Medupe Akinola
What I really love about James's talk He shows the benefit of putting a purpose behind a party. So many companies have holiday parties, but hearing about how this one evolved and generated kindness for both employees and others is amazing. But how can we incorporate kindness on a more regular basis? One idea Give compliments Specific and Intentional compliments. There are polls that consistently find that when managers support and praise people for doing what they're good at, their employees feel more fulfilled, their self esteem is boosted, and burnout can even be reduced. Seems pretty logical. Just think about the last time your boss said something nice to you, like acknowledging your hard work on a project or or mentioning an area where you've grown. Felt good, didn't it? And one surprising aspect of this research Giving compliments can actually make us even happier than receiving them. According to researcher Oval Cesar at UNC Business School, when we give authentic compliments, we feel a stronger connection with others. It turns out that thinking intentionally about another person by focusing on something positive about them is the first step in building social connection. Also, rather than having people spontaneously give each other compliments, another way to be more kind at work is to structure kindness as James said in the talk. Ashley Stewart created a CEO Citizenship Award, which gave bonuses to employees who acted like an owner by being a good friend and a good mentor. So at Ashley Stewart there was a payoff to being kind. And I don't know about you, but sneak a little change in my pocket for being kind and you might see a whole new Maduka. That's it for today. This episode was produced by Transmitter Media with help from Jordan Bailey and Fact Checked by Matias Salas. And special thanks to Anna Phelan, Michelle Quint, Corey Hajim and Colin Helms. I'm Madhu Back and Ola. Talk to you again next week.
- [25:26]
LinkedIn Ads Narrator
Week.
- [25:39]
Capital One Bank Narrator
With no fees or minimums on checking accounts, it's no wonder the Capital One bank guy is so passionate about banking with Capital One. If he were here, he wouldn't just tell you about no fees or minimums. He'd also talk about how most Capital One cafes are open seven days a week to assist assist with your banking needs. Yep, even on weekends it's pretty much all he talks about in a good way. What's in your wallet? Terms apply. See capitalone.combankCapital1NA Member FDIC
- [26:09]
LinkedIn Ads Narrator
are your ad campaigns lighting up the dashboard but not the pipeline? That's bullspend and marketers are calling it out in dashboard confessions.
- [26:19]
James Reed
My boss asked for results, so I opened my dashboard for the only positive sounding metric I had in impression Cut the bull.
- [26:27]
LinkedIn Ads Narrator
Spend. See revenue, not just reach LinkedIn delivers the highest return on ad spend of major ad NETWORKS. Advertise on LinkedIn. Spend $250 on your first campaign and get a $250 credit. Go to LinkedIn.com campaign terms and conditions apply.
- [26:39]
Pacific Life Insurance Narrator
Confidence. It's listening to your gut. It's moving forward even when the path ahead is unclear. For nearly 160 years, Pacific Life has helped people keep their promises, building confidence for generations. Whether you're confident in your financial future or just beginning to envision it, we're here to help. Ask a financial professional how Pacific Life the Power of a Promise Pacific Life Insurance Co. Omaha, Nebraska and in New York, Pacific Life Annuity, Phoenix, Arizona.