How Top Accounting Firms Turn Innovation into Action

Heath Alloway of Upstream Academy was National Growth Manager and Director of Business Development at one of the top accounting and consulting firms in the US. Here he led a multi-disciplinary team of 20, focused on strategic growth plans, development and launch of new services and industry verticals, leveraging firm data and innovation. Today he is a director at Upstream Academy alongside popular Accounting Influencers podcast guests Jeremy Clopton and Sam Allred. Heath is an experienced professional with a passion to create and implement an innovative and growth focused culture. This includes working with public accounting firms leadership teams on strategic growth plans, business development training, innovation, and implementation of new services. This is a follow up interview with Heath after this earlier episode: "How Top Accounting Firms Innovate and Generate Ideas" which you can https://bit.ly/3o2mTCU (check out here>>) Selected shownotes: The common misconceptions about innovation and growth in professional firms Why accountants and similar professions have proved themselves to be better at changing than thought possible The key areas accountants and leaders need to be ready for and adapting to if they want firm success Why 'hope' is NOT a sound strategy for growth in a professional firm The opportunities professional advisors and accountants now have to connect with clients How accountants can not just generate ideas and innovate, but turn that into concrete action and outcomes The 'preotype' process for developing a new service line for your accounting and professional clients Ways clients can actually help justify, shape and promote additional service lines and revenue streams in professional firms How to determine revenue potential on a new idea or innovation in your professional firm Three important steps accountants should consider in launching a new product or service on the marketplace Where a professional firm should focus their marketing efforts and spend when bringing a new product or service to market Ways to equip your people to position and sell your new ideas, projects, products and services The problems in relying on just one person to lead an initiative or be a champion for a new service offering in your firm Why scaling and growing actually makes it harder for an accounting firm to effectively position and sell its many products and services The power of educational videos to help your staff and your clients understand the benefits of various offerings and services The satisfaction of seeing a new idea or innovation become real when you 'reach for better, nor for normal' Practical steps to be more innovative and implement your ideas so your goals are achieved in your professional firm. When not working, Heath and his wife Emily focus on faith, family, health, and friends. He frequently refers to his two precious kids as his innovation team because they generate a lot of ideas – both good and bad – that require his help and/or intervention.. Contact him here: http://upstreamacademy.com/ (Website) https://www.linkedin.com/in/heath-alloway/ (LinkedIn)