Your veterinary business can be moving forward, but still falling behind.
“Management is more than just being smart and using your head,” says Danny Klinefelter, Texas A&M University professor emeritus. “Strategic management is about anticipating, adapting to, driving and capitalizing on change.”
Grade yourself in the following areas (i.e. with an A, B or C), Klinefelter suggests. In areas where you are deficient, set concrete goals to improve.
Are you strategic? How do you handle change? _______
Do you provide effective leadership? Do you communicate a clear vision of where you want the business to go? _______
Do you have a strong culture that attracts top talent? What is your turnover rate? _______
Do you use sound financial management practices? Do you understand your key financial metrics? _______
Do you have a marketing plan, and do you follow it? _______
Do you control costs, including family living? Are assets used effectively and efficiently? _______
How do you stack up against the competition? _______
Do you set business priorities and follow through on them? _______
Do you have a succession plan? Do you also have development and transition plans? _______
Do you see and understand the big picture? Do you have a strategy for major economic or policy changes? _______
Do you have policies and procedures in place? (personnel and safety policies, standard operating procedures, etc.) _______
Do you hold regular meetings to address concerns, business performance and expectations? Is that information shared with all vested parties? _______
Are you a member of a peer advisory group? _______
Are you getting better before you get bigger? _______
