Episode 150

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 & Generate Ideas" which you can 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:

Website

LinkedIn

Next Episode All Episodes Previous Episode

About the Podcast

Show artwork for Accounting Voices Podcast
Accounting Voices Podcast
Accounting Voices helps people in the accounting world stay relevant visible and vocal. Host Rob Brown interprets trends reshaping the profession and gives listeners insight to build authority influence and a stronger voice in firms and markets.

Listen for free

About your host

Profile picture for Rob Brown

Rob Brown

Rob Brown is the founder and host of the Accounting Voices Podcast, the flagship solo show of the Accounting Voices Network. Each episode offers sharp analysis and commentary on the trends, ideas and people shaping the global accounting profession.

Through this Accounting Voices Podcast, Rob helps accounting firm leaders, decision makers and professionals stay relevant and make sense of disruption in areas like AI, automation, M&A, private equity and soft skills beyond the tech. His perspective blends clarity, insight and curiosity, making complex issues relevant and practical for professionals and decision makers across accounting and finance.

He also leads two monthly panel shows, Accounting M&A and Accounting AI, which bring together senior voices to explore consolidation, strategy and the impact of technology on firms and people.

Rob is the author of the bestselling book Build Your Reputation (Wiley) and a TEDx speaker whose talk The Personal Brand of You has more than 400,000 views. Over his career he has hosted and moderated more than 1,000 conversations with accounting and fintech leaders worldwide.

Based in Nottingham UK, Rob is a stroke survivor living with epilepsy, a black belt in kickboxing, a decent chess player and an average player of four musical instruments.