Dustin Hostetler
Shareholder, Chief Innovation Officer
Boomer Consulting
www.Boomer.com
Wooster, OH
Q&A:
- Aside from the accounting websites, which blog/website do you consider a must-read? Inc.com
- In what ways have you contributed to your firm/company to make it better?
Over the last 8 years I’ve pioneered the introduction of Lean into the Accounting profession. I built Flowtivity into the preeminent provider of Lean Consulting and Training in the profession; and once coming on board with my merger with Boomer Consulting in 2015, have continued to expand the service line to be the highest revenue line inside our business. I have implemented Lean in 38 of the top 100 firms in the country, and have led over 200 lean consulting projects during the past 7 years. Along with my responsibilities of leading the Lean Consulting service line, I am also responsible for both the internal and external innovation at Boomer Consulting through my leadership role as Chief Innovation Officer. We practice what we preach, and we apply Lean concepts internally to make our processes better. We are also in growth-mode and continue to expand our services and capabilities with innovative new services and opportunities for our clients. - In what ways do you participate in the professional community to change/improve the accounting profession?
I am the Vice-President of the CPA Consultants’ Alliance (incoming President in 2017) and our mission is to serve the accounting profession with innovative research and deliverables that can benefit CPA firms and all practitioners. I also love to write and frequently submit blogs and articles that inspire practitioners to look and think beyond status quo to benefit their firms and clients. I also speak on Lean, continuous improvement, change management, and emerging trends at industry conferences. - In what ways do you participate in your local community to help others?
I’m on the board of two local non-profits, one being Board Treasurer for a large non-profit children’s organization. I’m also a frequent “helper” coach for several of my kids sports’ teams; it’s hard to be head coach with as much travel as I do. - What changes do you foresee in the accounting profession of the near future (3-5 years)?
Definitely continued automation of the core compliance processes of CPA firms. If firms are not focused on making sure these processes are as crisp and effective as they could be, including utilizing and leveraging the best technology, they are not only falling behind but I dare say substantially falling behind their peers. This will also lead to role changes of what a professional looks like inside the profession. While technical competency will still be a core requirement, client relationship and advisory skill sets will be in high demand – from entry-level staff through partner. - How do you see yourself participating in shaping the future of the accounting profession?
My lean team and I at Boomer are at the forefront of change and innovation in our profession – and it’s what drives us day in and day out. A lot of people talk change – both process and technology – in our profession. We are in a unique position to go inside firms and work with various cross-functional teams – from staff to partner, administrative professionals to IT – to actually lead / influence change to all major client-facing service processes including Tax, Assurance and Client Accounting Services. Our clients often make the statement that no one sees the accounting firm issues as clearly as we do – we can appreciate the details but never lose sight of the big picture. So this approach continues to help the firms evolve into future-ready firms. - What is your career philosophy?
Don’t be afraid to think big and take chances. I took a big risk to go on my own to start Flowtivity in 2011, and took another risk to join Boomer in 2015. I’m a big believer in following your gut instinct and if your mind and heart are in the right place, good things will happen. Don’t be satisfied with the status quo! - Describe one person who has been an important mentor to you and how that person helped change your life.
Bob Mapes – retired partner and Tax Service Line Leader from Rea & Associates, Inc. I started my public accounting career as a consultant at Rea and Bob was a mentor from Day 1. He always believed in what I was trying to build on both the consulting and Lean front – and was a great mind to bounce ideas off of. He was my first lean project champion – going back to the first project I did in 2006. I owe so much to Bob and his guiding wisdom over the years. I still turn to Bob for advice today.
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Learn more about this year’s 40 Under 40 Honorees.
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