{"id":51792,"date":"2017-04-21t05:00:12","date_gmt":"2017-04-21t09:00:12","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=51792"},"modified":"2017-04-24t10:30:23","modified_gmt":"2017-04-24t14:30:23","slug":"sustainable-innovation-pull-off","status":"publish","type":"post","link":"\/\/www.g005e.com\/2017\/04\/21\/sustainable-innovation-pull-off\/","title":{"rendered":"sustainable innovation: how to pull it off"},"content":{"rendered":"

\"young<\/a>sounds good. but what actually is it, and how do you do it?<\/strong><\/p>\n

by gale crosley<\/em><\/p>\n

everybody\u2019s talking about innovation these days.<\/p>\n

more crosley: think growth, not marketing<\/a> | channels, not referrals<\/a> | technology will solve labor shortages<\/a> | the three elements of growth strategy<\/a>
\n\"goprocpa.com\"exclusively for pro members. <\/span><\/strong>log in here<\/a> or 2022世界杯足球排名 today<\/a>.<\/span><\/p><\/blockquote>\n

the \u201ci\u201d word may be overused, but when it comes to growing your firm, i\u2019m an unapologetic believer in the power of innovation. this is especially important for mature service lines.
\n<\/p>\n

let\u2019s start with a working definition. i love the one offered by scott anthony, author of “the first mile” and other books on the subject. he suggests that innovation is “something different that creates value.”<\/p>\n

accounting firms are often advised to innovate by differentiating their services. after all, you can\u2019t outgrow your competitors if you don\u2019t have new, shiny stuff on the shelf! but try as they might, they continue to duplicate what other firms are doing which, according to anthony\u2019s definition, is not innovation. i witness it constantly at the market level, as industry and service line leaders struggle to grow by executing disconnected tactics, and merely aspiring to becoming famous.<\/p>\n

innovation at the market level involves meaningful collaboration between industry and service line leaders, and customizing services by industry\/buyer group. but this requires a deep understanding of the buyer group, something most firm leaders are unwilling or unable to invest in.<\/p>\n

sure, doing something different that adds value makes sense, but you need a road map to get from here to there.<\/p>\n

which brings me to the question, \u201cwhy bother?\u201d sustainable firm growth depends upon a continuous innovation mindset. it\u2019s not enough to come up with one great idea occasionally and call it a day. i advise firms to develop an innovation and commercialization method that builds this mindset.<\/p>\n

yes, you can!<\/strong><\/p>\n

firm leaders often tell me they are unable to innovate because their firm focuses on compliance. hogwash! for any firm, getting to the market with something new and valuable is a matter of focusing on the needs of specific buyer groups and customizing services to meet those needs.<\/p>\n

sometimes the value is created by combining ideas in a new and different way. an example is what frans johansen calls \u201cthe medici effect.\u201d he maintains that breakthroughs are often \u201cintersectional\u201d and occur when concepts from one field are brought into new, unfamiliar territory. we\u2019ve all experienced this, for example when cross-functional colleagues collaborate to produce original ideas no one came up with on their own.<\/p>\n

wherever these types of intersections occur in our firms, the method for creating a continuous innovation mindset is similar.<\/p><\/blockquote>\n

where to start? <\/strong><\/p>\n

start with organizing service line and industry leaders, and follow a proven path. use revenue segmentation to assess the source of firm revenues by service line and industry. then identify leaders who will lead the specific service lines and industries. many firms get this far, then stop. the key to creating a process is in the steps that follow:<\/p>\n

many firms get this far, then stop. the key to creating a process is in the steps that follow:<\/p>\n