Monthly Meetings
Meeting monthly with the advisor is essential for maintaining accountability and for driving consistent progress in veterinary practice management. These meetings involve reviewing financial reports, monitoring progress on goals, evaluating systems documentation (SOPs), and addressing both challenges and successes. Practices with more than one veterinarian are encouraged to meet weekly, even briefly, to discuss wins, losses, and operational issues. The advisor may assist with SOP development and process consistency, ensuring the practice can function efficiently without constant owner oversight. Financial reporting is tailored to the owner’s preferences and may include comparative profit and loss statements, balance sheets, and visual dashboards tracking key metrics like revenue, expenses, payroll percentages, and client retention. The focus is on using relevant key performance indicators (KPIs) to measure and achieve strategic goals, with ongoing reviews to ensure metrics remain aligned with practice objectives.
In addition to monthly meetings, quarterly reviews focus on year-to-date financial performance, tax planning, and evaluating major business decisions, such as equipment purchases or benefit changes. These reviews also assess progress on both financial and non-financial goals, ensuring actionable objectives are being met. The advisor collaborates with owners to prioritize tasks and adjust strategies as needed. Regular engagement fosters continuous improvement, much like athletic training requires accountability for success. This ongoing support allows practice owners to step back from daily operations, focus on strategic growth, and achieve both professional success and personal balance.
