LBMC Launches Growth and Innovation Practice

LBMC, a top consulting & professional services firm in the nation, announces the launch of its Growth and Innovation practice to accommodate growing client needs in the middle market space. LBMC’s new service line is one of the first such practices in the nation to focus on middle market companies facing unique challenges related to growth and innovation. As part of LBMC’s rapidly growing consulting business, the new practice area will be focused on providing these companies with a competitive advantage in the marketplace through a Design Thinking approach to growth strategy.

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Leading LBMC’s Growth and Innovation practice as Managing Director is industry veteran and strategy consultant Todd McCullough. McCullough’s 30 plus year career includes working with over 100 of the Fortune 500 companies. Former clients include: Subway, Ford Motor Company, HCA, Boston Scientific, EY, FedEx and Pfizer. For over a decade McCullough co-led Doblin, a pioneer in integrating strategy and design. Doblin was Deloitte's marquee acquisition when they entered the space.

“Today, these Design Thinking methods provide enormous potential for growth in both the product and services-based sectors, especially in middle market organizations,” said McCullough. “Companies that implement this design methodology nearly double their revenue growth and dramatically increase shareholder returns compared to their industry counterparts, according to the McKinsey Design Index. I’m thrilled to be partnering with LBMC, a firm I’ve admired and worked with over the years, to bring this service offering to their clients.”

McCullough is an adjunct faculty member of Vanderbilt University Owen Graduate School of Management, where he teaches growth strategy, innovation, marketing and leadership to executives and students. For 15 years, he served as an adjunct faculty member at the Institute of Design at Illinois Tech, where he helped graduate students apply Design Thinking frameworks to implement large-scale innovations in public and private companies. An acclaimed thought leader, McCullough speaks regularly at universities, industry conferences, company off-sites and other leadership meetings.

The LBMC Growth and Innovation experts will be helping companies address challenges such as missing growth goals, adapting to business/industry disruption, and new product development. Services offerings will include growth audits, change management, leadership development, innovation strategy, M&A road mapping, product development, and more.

Joining McCullough’s team is Bryan Terrill, a Senior Manager in the Growth and Innovation practice. Terrill is responsible for service line development as well as delivering on client projects from research planning to design implementation. Terrill brings with him 10 years of consulting experience in product and service design with formal training in both engineering and design. His background gives him a unique combination of creativity and pragmatism when developing solutions for clients.

Prior to joining LBMC, Terrill founded BT Design Lab, where he helped companies including Clayton Homes, Hamilton Beach, and Bush’s Beans, develop new products, services, and customer experiences. Terrill serves as an adjunct professor teaching Innovation and New Product Development at the University of Tennessee.

“The launch of LBMC’s Growth and Innovation practice aligns with the increased demand we are seeing from middle market companies, particularly those at a crossroads when it comes to what’s next. Adding this new service line to LBMC’s suite of consulting service offerings complements our Private Equity and M&A practices and allows us to be on the cutting edge of providing nuanced solutions to this rapidly growing segment. Having Strategic Consulting and Design Thinking experts Todd and Bryan at the helm will be critical to serving these clients at a high level,” said Jeff Drummonds, LBMC’s CEO.

About LBMC
LBMC is a Forbes Best Accounting Firm and Accounting Today Top 50 Firm in the nation serving approximately 10,000 clients with diverse needs across a spectrum of industries. Named a 2021 Best Workplace in Consulting & Professional Services, LBMC has more than 750 team members, with offices in Chattanooga, Nashville (Brentwood), and Knoxville, TN, and Charlotte, NC. Founded in 1984 as a traditional accounting firm, LBMC has expanded its focus to meet a broad range of advisory and business consulting needs for its diverse client base. Today, LBMC and the LBMC Family of Companies are industry leaders in financial, human resources, technology, information security, and wealth advisory services for businesses and individuals. For more information, visit www.lbmc.com.

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