3 Factors of Growth Using Veterinary Business Management
The large animal vet industry is facing a series of external pressures as we have outlined in our previous blog; Navigating the Pressurized Vet Market. But many industries alike have one common question; How do we capture the business information we need to make decisions based on priority level?
This is where positive veterinary business management skills come into play. The direction of a business is made up of hundreds of littles decisions made by you and your team. How do you ensure you are all moving in the same direction to support growth?
There are 3 key factors that can make you either stumble or fuel your clinic’s growth.
1. Have clear business objectives
First things first, your company executives need to have a clear vision of your plans for the next 6 months, 1 year and 5 years. This vision then should be passed on to all clinic employees so they can have context for the work they are doing. Creating this communication with your workforce creates an environment for their feedback to increase efficiency and create a better customer experience. Feedback from clinic staff is a powerful tool- coupled with business insights- can be used for continuous business improvement.
2. Consolidate your business systems into one place
Do you find that your clinic systems are all over the place? This is a common roadblock in veterinary business management decision making. You can continuously throw money and resources at plugging the “data hole” or you can find a more permanent fix by repairing existing systems or buying a new one.
There is no easy answer to that decision – but at Just Vet Solutions, we often find that business owners wait until the pain of indecision is excessive. This can make an already difficult process of a new system implementation even more stressful.
A few questions we urge you to ask:
- Can I efficiently look at my business trends in a clear, easily definable way?
- Am I waiting until month end or year end to see the full picture?
- And does this impact my ability to make sound decisions for my clinic?
These bottom-line questions can help you identify if you need a new solution or can continue with your existing systems.
3. Be confident making the tough decisions
As a business leader, you understand that decisions in front of you are rarely made up of “good vs bad”. More commonly they are “good, better, best” scenarios. To land on the best decision, you need good, timely information, a helpful feedback system and a recognition system with shareholders, management team and employees.
Having clear business objectives, consolidated veterinary business management systems and confidence making the hard decisions is the recipe for success in this rocky industry.
Just Vet Solutions has helped large animal clinics face these kinds of business problems. We provide tools like SoftVet for the vet industry, understand efficient workflows, understand ways to surface your KPIs and move the business towards the direction you have set. We understand and can support you – talk to our Veterinary business management experts!