Practice Ownership: Listen Before You Leap
In a four-part podcast series offered by Calico Financial, Dr. Peter Weinstein explores what veterinarians need to consider before taking the leap into practice ownership and what to do to be successful once you choose that path.
In the age of student loan debt and corporate consolidation, is independent practice ownership attainable? Is it something today’s veterinarians should strive for?
For Peter Weinstein, DVM, MBA, co-author of “The E-Myth Veterinarian,” owner of PAW Consulting, executive director of the Southern California Veterinary Medical Association and Veterinarian’s Money DigestTM Editorial Advisory Board member, the answer is a resounding “yes.”
Dr. Weinstein has helped countless veterinarians rise to the challenge of practice ownership, and he gamely delves into the topic in a new four-part podcast series.
As Dr. Weinstein noted, “Veterinarians are very goal oriented. We had to be just to get into veterinary school. If owning a practice is your goal, you can do so — and be successful! You just need to learn from the clues that successful practices have left for you.”
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In a wide-ranging conversation with Calico’s Travis York, Dr. Weinstein discusses the psychological barriers that hold many veterinarians back from seriously considering practice ownership. Dr. Weinstein contends that common concerns like student loan debt and worry over work-life balance often hold veterinarians back from reaching their full potential. By pushing past those barriers, veterinarians can assess the challenges and rewards of ownership.
“I would suggest that practice ownership is ultimately the best way to earn more money so you can retire your debt, and with a successful practice and practice model in hand life balance is also easier to achieve,” Dr. Weinstein said. “As long as ownership is not a job and you treat your practice as a business, the above-mentioned issues become non-issues.”
This podcast series is available exclusively through the Calico Resource Center, a growing library of educational resources designed to help current and aspiring veterinary practice owners become the best owners that they can be. The subscription is free and open to anyone interested in learning more about practice ownership.