Where ideas take root
The Veterinary Entrepreneurship Academy is training the next generation of veterinary business leaders.
Inspiration for the Veterinary Entrepreneurship Academy began in the fall of 2010 when Adam Little, then a student at Ontario Veterinary College, had an idea to help veterinary practices connect with their clients through a mobile app. While most of his colleagues were studying physiology, Little was learning about prototyping, pitching and product development. His […]
Find the root cause
Fearful and anxious body language is not always behavioral in origin. In some cases, disease is the culprit.
Although this column focuses on the emotional health of our patients and how that can translate into more compliant clients and better business, like many of you I’m a clinician at heart. The better we can use all our diagnostic skills, including recognizing and interpreting canine body language, the more thorough we can be in […]
Activate your latent superpower
Go With the Flow
When we are sincerely curious, we unlock new fields of possibilities.
Our most recent column [“Wholeness and Self-Compassion,” February/March 2019] explored the importance of acknowledging our wholeness as a first step to finding peace in the present moment. While presenting on the topic of wholeness at VMX 2019, what became clearer to us than ever before was that members of the veterinary profession struggle with the […]
7 must-do’s before you sell
Potential hospital buyers want to see everything, from contracts to liens. Your advisers will play key roles in the process.
When the time comes to sell your veterinary practice, the most important part, of course, is finding a buyer who is willing to pay the right price. But before the “For Sale” sign even goes up, follow these seven steps to position yourself for a smooth sales process. 1. Get Tax and Legal Advice One […]
Be a number cruncher
Analyzing income-to-expense ratios will help unlock profits. A detailed chart of accounts and benchmark reports are good starting places.
When practice owners and managers want to increase profitability, one of the first things they do is analyze expenses to identify areas where more is being spent than expected. From there, the challenge is to find ways to increase revenue or reduce expenses, or both, without sacrificing quality or service. Often, the best way to […]
Keep the peace
Successful conflict management requires knowing when to act, what to say and when to sit everyone down for a little coaching.
The reality is that after spending all day with your co-workers, almost every day of the week, conflict is inevitable at your veterinary practice. What is reasonable, though, as well as desirable, is to create a healthy work environment, one where conflicts that arise are managed in a functional way that allows the practice to […]
You owe it to yourself
Practice owners need to be fairly compensated. A four-tier formula is the answer.
As the owner of your veterinary practice, how do you determine your compensation and benefits? Unfortunately, many practice owners are what I call bottom feeders. That is, whatever amount is left in the bank account at the end of the month is how much they pay themselves. This is not how you should determine your […]
A crash course on auto insurance
Protect and Defend
Make sure your practice is adequately covered for different types of vehicle classifications and situations.
Does your veterinary practice own a motor vehicle? Regardless of your answer, operating a vehicle on company-related business is unquestionably one of the largest liability exposures that exist for a veterinary services organization. Over 10 million motor vehicle accidents occur each year in the United States. A statistic like that makes a comprehensive auto insurance […]
Your appointment calendar should be teeming with patients but not so crammed that you regularly turn away or turn off clients.
As you plow through the spring and gear up for what promises to be a busy summer season, maximizing efficiency and minimizing the craziness of the appointment schedule should be at the top of your mind. This year I am determined to coach up the reception team to passionately and proactively manage the calendar to […]
What gets you down?
Suffering from burnout, compassion fatigue or work-life issues? Make time for yourself, and distance yourself from what causes you the most stress.
Do you ever feel like life is spinning out of control? Like you never have enough time for the things you need to do, and no matter what you do, you think you should be doing something else? This is common among veterinary professionals. The stress begins during school and training and continues in the […]