Entries with the topic Management.

The answer is ‘less than 20% of revenue.’

Apr 26, 2017 by Edward L. Blach, DVM, MS, MBA

One of the most frequent questions I get from practice owners and managers is 'how much inventory should I have in my practice?'  This is a very important question,... [ Continue Reading ]

Topics: Featured 3 ,Management ,Optimize Inventory and Suppliers ,Supplier Wednesday

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Leadership versus management in veterinary medicine

Dec 20, 2016 by Edward L. Blach, DVM, MS, MBA

There have been many articles and discussions about the differences and similarities of leadership versus management.  In the Wall Street Journal, Alan Murray wrote, "Leadership and management must go... [ Continue Reading ]

Topics: Featured 3 ,Build and Lead Your Team ,Management ,Team Tuesday

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Year-end bonuses:  incentive or entitlement?

Nov 15, 2016 by Edward L. Blach, DVM, MS, MBA

A frequent question from practice owners and managers is whether year-end bonuses provide effective motivation or are a detrimental entitlement?  The fact that the question is typically worded exactly... [ Continue Reading ]

Topics: Featured 3 ,Build and Lead Your Team ,Management ,Team Tuesday

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A foundation of integrity

Oct 11, 2016 by Edward L. Blach, DVM, MS, MBA

Integrity is of utmost importance in every business and in life.  It is a core principle to effective leadership and toward developing long term relationships both as an employer... [ Continue Reading ]

Topics: Featured 3 ,Build and Lead Your Team ,Management ,Team Tuesday

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The “40/20” Rule

Sep 28, 2016 by Edward L. Blach, DVM, MS, MBA

As we’ve discussed many times, inventory and related services such as lab and radiology represents an expense category called Cost of Professional Services (COPS) or Direct Costs. ... [ Continue Reading ]

Topics: Featured 3 ,Management ,Optimize Inventory and Suppliers ,Supplier Wednesday

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Screen for personality traits to build your team

Sep 27, 2016 by Edward L. Blach, DVM, MS, MBA

Many successful companies screen potential new hires using personality tests and other modern mechanisms to identify the right people for their team.  Personality tests such as DISC or Myers-Briggs... [ Continue Reading ]

Topics: Featured 3 ,Build and Lead Your Team ,Management ,Team Tuesday

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How easy is it to do business with you?

Aug 29, 2016 by Edward L. Blach, DVM, MS, MBA

A big part of successful marketing is making your services easily accessible and convenient to your customers.  In summary, how easy is it to do business with you? Accessibility... [ Continue Reading ]

Topics: Featured 3 ,Management ,Sales and Marketing ,Marketing Monday

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Understand the Real Cost of Training Required to Add a Service to Your Practice

Aug 5, 2016 by Andrew Clark

Before committing to attend a training course to enable your business to provide a new service to your clients, be sure you understand all the costs associated with the course.... [ Continue Reading ]

Topics: Featured 3 ,Finance ,Management ,Financial Friday

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Important member of your team:  an employment attorney

Aug 2, 2016 by Edward L. Blach, DVM, MS, MBA

Every practice needs a team approach.  The team will include both employees and outside resources that you depend upon for expertise that is crucial but which should be sourced... [ Continue Reading ]

Topics: Featured 3 ,Build and Lead Your Team ,Management ,Team Tuesday

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Renegotiate Your P & L Expense Agreements

Jul 29, 2016 by Andrew Clark

The past few Financial Fridays have focused on developing a process to use financial statements and practice management reports to identify expenses that just seem to be too high (or... [ Continue Reading ]

Topics: Featured 3 ,Finance ,Management ,Financial Friday

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