We don't just know business, we know YOUR business
Creating Value
There are many times in your veterinary career where it becomes necessary and vital to create value for yourself
and your practice. Strategic Veterinary Consulting has assembled an elite team of professionals who stand
ready to guide you every step of the way.
In order to encourage your success, Strategic has created their exclusive Constant Care Program. This program entitles you to ALL of Strategic's services. This includes the expert guidance from lead consultants Jim Guenther and Elise Lacher, along with Division Managers in Accounting and Marketing, all at your service. Because of Strategic's dedication to Constant Care for each memer of the program, participation is limited.
We encourage you to Contact Us today to ensure your place in the program.
In order to encourage your success, Strategic has created their exclusive Constant Care Program. This program entitles you to ALL of Strategic's services. This includes the expert guidance from lead consultants Jim Guenther and Elise Lacher, along with Division Managers in Accounting and Marketing, all at your service. Because of Strategic's dedication to Constant Care for each memer of the program, participation is limited.
We encourage you to Contact Us today to ensure your place in the program.
Practice Start-ups
Starting a practice in the best of times can be a bit scary. Starting one today can be a bit challenging, but still can be successful. Your Strategic Veterinary Consulting team has worked with many veterinarians to achieve their dream. We have signed personally on notes with six and seven figures in them, so we can empathize with the sleepness nights. We have worked with architects and general contractors. Site selection, equipment purchases, opening inventory ordering, entity selection, team selection, hiring and training, software selection, setting up the bookkeeping, and on and on and on. Having someone on your team who has "been there, done that" can help the process be as smooth as possible. Can't say we can make it stress free, obviously, this is a big step in your life, but we can hold your hand through the process. If you start your practice from the ground up, you know it is going to be "your" practice. You don't have to deal with someone else's way of doing things. The practice is all your doing. We can help you make your practice truly something that reflects your values and dreams.
Starting a practice in the best of times can be a bit scary. Starting one today can be a bit challenging, but still can be successful. Your Strategic Veterinary Consulting team has worked with many veterinarians to achieve their dream. We have signed personally on notes with six and seven figures in them, so we can empathize with the sleepness nights. We have worked with architects and general contractors. Site selection, equipment purchases, opening inventory ordering, entity selection, team selection, hiring and training, software selection, setting up the bookkeeping, and on and on and on. Having someone on your team who has "been there, done that" can help the process be as smooth as possible. Can't say we can make it stress free, obviously, this is a big step in your life, but we can hold your hand through the process. If you start your practice from the ground up, you know it is going to be "your" practice. You don't have to deal with someone else's way of doing things. The practice is all your doing. We can help you make your practice truly something that reflects your values and dreams.
Associate Buy-Ins
You have built your practice over the years and it is "your baby." As the practice owner, you may be at the stage of your life when you are starting to think about what you want to do next It is time to start thinking about "moving on." But, you have nurtured your practice for many years and you don't want to just put it on the chopping block.
Grooming one of your associates to take over the reins might just be the right decision. We have help many practice owners hire associates who truly do want to be practice owners some day. We have taught owners how to mentor their associates in the duties, responsibilities and mindset of practice ownership. A well thought out exit strategy doesn't just happen overnight. Finding the right associate and then developing them to "think like an owner" and ultimately to become an owner, takes several years to get it right. When an associate buy in is done right, it is a beautiful thing. Let us help you through the process.
You have built your practice over the years and it is "your baby." As the practice owner, you may be at the stage of your life when you are starting to think about what you want to do next It is time to start thinking about "moving on." But, you have nurtured your practice for many years and you don't want to just put it on the chopping block.
Grooming one of your associates to take over the reins might just be the right decision. We have help many practice owners hire associates who truly do want to be practice owners some day. We have taught owners how to mentor their associates in the duties, responsibilities and mindset of practice ownership. A well thought out exit strategy doesn't just happen overnight. Finding the right associate and then developing them to "think like an owner" and ultimately to become an owner, takes several years to get it right. When an associate buy in is done right, it is a beautiful thing. Let us help you through the process.
Practice Acquisition
There are two ways to become a practice owner - start a practice from scratch or buy an existing practice. The benefit of buying an existing practice is that from the day you take over you do have a steady stream of income. Unless the transition is really screwed up, clients will continue to come through the front door and will continue to pay you to treat their pets. That can be very reassuring.
Buying an existing practice, however, has its own challenges. What is the practice worth? There are knowledgeable and capable veterinary specific practice valuators out there. They are all not created equal, however. Understanding what they do, if their qualification fit what you want, if they are a "fit" with your personality, is important. What a practice is worth is not as easy as it was in the old days. Multiples of one year's gross was easy to understand. Single Period Capitalization, Excess Earnings, Income Normalization - these and many more are all terms that can be daunting. While there are rules and norms and formulas to learn, there is still a subjective element to the valuation process. Dr. Jim Guenter has the credentials, but he is also a veterinarian. He understands the business of veterinary medicine and how many factors can impact a practice's value. (Visit our Practice Valuation Division for more information regarding Veterinary Practice Valuations)
What the practice is worth, and what you are willing to pay for it are two different things. Having someone on your side who can help you through this decision process is critical to your ongoing success as the owner of this practice. We have helped negotiate the practice purchase, but then we have been there through the transition process, holding your hand, and making sure you are in the best position possible as you take over the helm as the new owner of your own practice. Financial, human resources, inventory, marketing, to name a few, we can help.
There are two ways to become a practice owner - start a practice from scratch or buy an existing practice. The benefit of buying an existing practice is that from the day you take over you do have a steady stream of income. Unless the transition is really screwed up, clients will continue to come through the front door and will continue to pay you to treat their pets. That can be very reassuring.
Buying an existing practice, however, has its own challenges. What is the practice worth? There are knowledgeable and capable veterinary specific practice valuators out there. They are all not created equal, however. Understanding what they do, if their qualification fit what you want, if they are a "fit" with your personality, is important. What a practice is worth is not as easy as it was in the old days. Multiples of one year's gross was easy to understand. Single Period Capitalization, Excess Earnings, Income Normalization - these and many more are all terms that can be daunting. While there are rules and norms and formulas to learn, there is still a subjective element to the valuation process. Dr. Jim Guenter has the credentials, but he is also a veterinarian. He understands the business of veterinary medicine and how many factors can impact a practice's value. (Visit our Practice Valuation Division for more information regarding Veterinary Practice Valuations)
What the practice is worth, and what you are willing to pay for it are two different things. Having someone on your side who can help you through this decision process is critical to your ongoing success as the owner of this practice. We have helped negotiate the practice purchase, but then we have been there through the transition process, holding your hand, and making sure you are in the best position possible as you take over the helm as the new owner of your own practice. Financial, human resources, inventory, marketing, to name a few, we can help.
Staff Recruitment and Retention
A smooth running veterinary practice with a well trained staff who works together as a team is a beautiful and successful site to behold. Yet what is the most frequent complaint that business owners have - problems with their employees. Elise Lacher, was a social worker for the divorce court in St. Louis, before she became a CPA and began working with veterinarians and other small business owners. As she says, "This was excellent training for dealing with many of the people issues that we deal with today." We can help with hiring the right people and put in training program to successfully "on board" them into your practice culture. Communication is Everything. Many times, problems can be minimized if there is a good communication process in place, not only for dealing with difficult situations, but for dealing with the day to day issues that arise. Keeping everyone in the loop can go a long way to keeping everyone happy and productive.
A smooth running veterinary practice with a well trained staff who works together as a team is a beautiful and successful site to behold. Yet what is the most frequent complaint that business owners have - problems with their employees. Elise Lacher, was a social worker for the divorce court in St. Louis, before she became a CPA and began working with veterinarians and other small business owners. As she says, "This was excellent training for dealing with many of the people issues that we deal with today." We can help with hiring the right people and put in training program to successfully "on board" them into your practice culture. Communication is Everything. Many times, problems can be minimized if there is a good communication process in place, not only for dealing with difficult situations, but for dealing with the day to day issues that arise. Keeping everyone in the loop can go a long way to keeping everyone happy and productive.
Marketing Strategies
Veterinary marketing is any activity a representative of your practice has with a client or potential client. Unfortunately, not every marketer understand this concept. Happy customers are no longer good enough. You must be creating advocates for your practice. Clients that just can't say enough great things about YOU. This involves everything from their first glimpse of your website, to a friendly smile when they walk thru your practice doors, to your follow-up after their visit. One misstep during this entire process can cause missed opportunities and create damaged relationships, two of the biggest holes in your client base. Marketing is not simply putting a website up or taking an ad out in the newspaper. Marketing is communicating who you are, as a practice, and why your services are important.
At Strategic, we believe in genuine marketing, which is marketing as a direct reflection of your practice and the experience there. We are not interested less than honest advertisements that drive interest, but don't create lasting partnerships with clients. We are dedicated to captivating your target audience and educating them about you, your practice, and how important your services are for the health and life of their animal. Of course, that's easy to say, more difficult to do and that's why we're here!
Visit our Veterinary Marketing Division >>
Veterinary marketing is any activity a representative of your practice has with a client or potential client. Unfortunately, not every marketer understand this concept. Happy customers are no longer good enough. You must be creating advocates for your practice. Clients that just can't say enough great things about YOU. This involves everything from their first glimpse of your website, to a friendly smile when they walk thru your practice doors, to your follow-up after their visit. One misstep during this entire process can cause missed opportunities and create damaged relationships, two of the biggest holes in your client base. Marketing is not simply putting a website up or taking an ad out in the newspaper. Marketing is communicating who you are, as a practice, and why your services are important.
At Strategic, we believe in genuine marketing, which is marketing as a direct reflection of your practice and the experience there. We are not interested less than honest advertisements that drive interest, but don't create lasting partnerships with clients. We are dedicated to captivating your target audience and educating them about you, your practice, and how important your services are for the health and life of their animal. Of course, that's easy to say, more difficult to do and that's why we're here!
Visit our Veterinary Marketing Division >>
© 2011 Strategic Veterinary Consulting, Inc. All rights reserved.
Don't miss an opportunity to create your foundation for success. Strategic will be one of the best decisions you will
make in your veterinary career....but don't take our word for it. Just ask our clients:
"The best decision I have ever made was to use Jim and Elise. They helped me get funding
for my hospital, have given advice, have delt with the bank and with suppliers and I have
the benifit of all their experience. And they are pleasant to deal with. I have no regrets."
We don't just know business, we know YOUR business