Whos going to buy your veterinary practice?

September 15, 2016

Every ambitious associate should share this with their practice owner. (Hint hint! I want to own!) Every smart practice owner should share this with their ambitious associateor start planning to find one. (Hint hint! Id rather sell to you!)

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If you want to be one of the best, there's no need to dream it up yourself.

You spend all kinds of time and energy healing animals and keeping clients happy. But you know you need to focus on those other feel-good things ... like increased revenue, better leadership and a practice that runs smoothly.

And you think you have to figure that out all by yourself.

Guess what, dear reader? You don't. You get your hands on Benchmarks 2016: A Study of Well-Managed Practices. And you let those all-star practices-the ones that provide top-notch animal care while making serious bank-show you the way.

Benchmarks 2016 has action steps to ...

> increase profits (and client and patient benefits through communication)

> fuse leadership and management (for a team-based culture with empowered employees)

> take advantage of technology (developing your goals and mapping out a strategy)

> get ready for transition (by prepping yourself, your practice and your buyer to ensure your practice's legacy)

Here's where to get it.

Practice owners: Have you thought about what you'll do when the time comes to sell your practice? Do you have a plan to groom an associate to take over? Are you going to hand off the keys to an outside veterinarian? Whatever route you choose, your plan should include mentorship-if you want that veterinarian to thrive. This exclusive content from Benchmarks 2016: A Study of Well-Managed Practices by WTA Veterinary Consulting and Veterinary Economics lays out a mentorship program to help the new owner start off on the path to success.

Ideally, this mentorship starts at least three years before the transition will take place and includes weekly management meetings, CE dedicated to business management topics, leadership and management reading topics, and strategic planning meetings.

Click here to download the Benchmarks mentorship timeline and prevent an “I've bought a practice, now what?” situation. For the comprehensive plan including the timeline, meeting and reading ideas and a sample calendar visit industrymatter.com/benchmarks2016 to purchase the full report.