Running a veterinary clinic might not be the same as running a tech company. Still, vets can actually learn a lot from the mindset of entrepreneurs who run fast-growing tech startup companies. Startups usually operate in an incredibly fast-paced environment and are often under pressure to secure funding, retain clients, and offer services to market quickly. In the same way, vets are also under pressure to run their practice efficiently and ensure that they can provide the best services while remaining competitive in their field.
With that in mind, here are some of the things that vets can learn from startups.
1. Think About Location
One of the first things you need to think about when establishing your veterinary startup is the location. Think very carefully about where the physical clinic will be located, what the building will look like, and how it will operate. You need to carefully plan this before you purchase a land or building.
Look into the area where you wanted to base your clinic. If you’re going to be available for emergency visits, you should choose a location that is close to where you live. Some vets will choose to set up their clinic in their hometown since they are familiar with the neighbourhood and may have already built a customer base in the area. Consider your personal goals and aspirations when deciding the location of your veterinary practice.
When choosing the location, consider the structure and zoning of the actual area and make sure you can renovate it to fit your needs. Will you be offering boarding and overnight care for the animals? Are you going to provide grooming services? It would be best to have a business plan before you decide on the location.
2. Don’t Buy Second-hand Equipment
Starting a veterinary practice can be very costly, which is why some vets are tempted to buy second-hand equipment to save money. As you know, running a vet clinic requires the use of several devices, tools, and equipment, and these could cost a lot of money. While second-hand equipment can save you money, this may not be a good option, especially if it’s a vital piece of equipment. You cannot be sure of the quality of these devices, and if they fail, they could put the life or wellbeing of the pet in jeopardy.
Always go for high-quality veterinary equipment. Filling your practice with the best equipment may be pricey, but this is absolutely essential for your practice. Remember, you are dealing with the life and health of animals. You cannot be sure how long the second-hand equipment is already in use, and it may no longer function the way it should. It could put the pet’s health at risk, and if something bad happens to the pet, this could ruin your reputation.
3. Competitor Research
Competitive research is a crucial step in opening any kind of business. Remember, you may not be the only one offering veterinary services in your area, so you need to know who your competitors are. Understanding your competition can help you to better position yourself in the market.
Competitor research requires identifying who your competitors are, evaluating their strengths and weaknesses, and looking into the services that they offer. By looking into the business operations of your competitors, you can assess how well you can compete in the industry and if your competitors are a threat to your business. When looking into your competitors, analyse their strengths and weaknesses. From here, you should be able to identify a segment in the market that is underserved. For instance, if you find that none of your competitors offers artificial insemination services, then perhaps, this is something you can provide.
4. Get Recruitment Right
Remember that your veterinary practice is as good as the people who work for you, so hiring the right people is crucial. But looking for highly qualified candidates may not be easy to achieve. You need to look at diverse parameters such as the applicant’s experience level, professional skills, educational background, and more. Even if you take a scientific approach to hiring, there’s a good chance that you will end up choosing the wrong person for the job. Therefore, consider using a recruitment specialist that can hire the right people on your behalf.
Recruitment specialists are familiar with the veterinary industry and can help find the right people for the job. They will evaluate the applicant and ask relevant interview questions to assess their level of expertise in handling animals. Above all, they will determine if the person can stay longer by asking about their career goals.
You might also want to consider hiring locum vets. These are vets who can temporarily fulfil the duty of a full-time vet. Sending out for locum vet jobs can help you cope with the initial intake once you start opening your veterinary practice. They are a very cost-effective option, especially for startups. Since they are only temporary workers, you will not be obliged to pay them in full or provide benefits packages.
5. Think About Your Target Market
Lastly, consider your target market when opening your veterinary practice, especially if you plan to enter a more specialised field in veterinary, such as surgical, emergency care, and equine. The bulk of your clients will come from those who are in dire need of these special services.
You must define who your main audience is. Try to understand whom you are targeting to customise your marketing plans to reach your target market. To define your audience, start by collecting data. Comb through your patient records to look for basic facts about your existing clients. After collecting the data, organise it to segment your audience according to some key profiles. Are they families with kids, couples, or solo animal parents?
Once you have identified your target market, customise your marketing plans according to their background and profile. You would be able to easily attract the attention of your target market if your marketing resonates well with them.
