The first steps to thinking like a business owner (part 1)

To learn more about practice ownership from the subjects of this interview, check out the article by Tom Seeko and CJ Burnett here:

• What to know before taking out a loan to purchase a practice

Buying, owning, and running a business takes skills and a mindset that's not necesarily taught in vet school. In an interview with dvm360®, Florida Veterinary Advisors co-founders Tom Seeko, CExP, and CJ Burnett, CExP, share tips on how to take the first steps on the path toward being a successful veterinary business owner.

A partial transcript of the interview is below. View the video for more of the discussion.

Tom Seeko, CExp: Something I would say, becoming a business owner, you should probably familiarize yourself with...profit [and] loss statements. And that's where you're able to see how the business is doing on a...month-by-month basis, to see...did it make money? Did we lose money? Are we pretty consistent in what we're doing? Because that's 1 thing that's taken into consideration from from from a valuation. They usually will look, someone who values a business, between 2 to 3 years of your profit loss statements, because they want to see what times of the year are you kind of down in value of down and cash versus up.