1. The New Path to Success for the Equine Vet
Mike Pownall, DVM
mike@mpequine.com
www.slideshare.net/mpownall

2. Our World
3. Our World
4. 5. 6. Whats My Story
7. We Need a New Way
Can we learn from other industries?
Marketing
Branding
Social Media
Cost Savings
8. What Makes You Special?
9. What Happens When Youre Special?
Value = Loyalty= Less Price Sensitivity
10. 11. The Customer Experience
Client Outcome
12. The Customer Experience
It should not be a commodity business
13. If you reduce your prices you have to sell MORE to maintain your margin
14. If you reduce your prices you have to sell MORE to maintain your margin
15. If you reduce your prices you have to sell MORE to maintain your margin
16. % Change to Pre Tax Profit
17. Profit Leakers
18. Good, Cheap & Fast
You can be 2 but not all 3
Good and cheap not fast
Good and fast not cheap
Cheap and fast not good
19. Giving Value
Marketing
Branding
20. What the #*^%*@ is Marketing?
Marketing is the process used to determine what products or services may be of interest to customers, and the strategy to use in sales, communications and business development. Wikepedia.com
21. What is Branding
What you stand for
What you want to be know for
Promise of
Quality
Service
Performance
Customer Experience
22. Marketing
23. 24. 25. 26. 27. 28. 29. The Equine Practice?
Where are we going to find value?
30. The Equine Practice?
Where are we going to find value?
31. Marketing
Competition
Customer
Customer
Customer
32. Strategy
Identify our challenges
Create a plan
How we will do it
How will we measure it
33. Competition
34. Bargaining Power of Clients
The internet
Relative abundance of veterinarians
Health of the local economy
Lay providers
Price sensitivity
Different breeds or disciplines
35. Threat of New Entrants
New vets in an area
Non-veterinary practitioners
The internet
Internet pharmacies
36. Bargaining Power of Suppliers
Increased costs from suppliers
Decreased competition
Cost of labor in local market
37. Threat of Substitute Product
Lay practitioners
Internet
Lack of differentiation
38. Competitive Rivalry
Newly graduated vets
Price cutting by other vets
Online pharmacies
39. What Does Your Client Think of You?
Surveys?
www.surveymonkey.com
Focus Group
Hire a pro
40. Are You Missing Clients
Market Segmentation
Clients
Breeds
41. What Does Your Client Want?
Million $ Question
42. 2007 AAEP Survey
Quality of care
Medical knowledge
Horsemanship
Prompt or available
Communication skills
43. What do you offer?
44. Values
Vision
Mission Statements
45. Mission Statement
Concise statement of business strategy from a clients POV
What do we do?
How do we do it?
Who do we do it for?
Not-differentiating
46. Vision Statement
What you want the practice to be
Our vision at McKee-Pownall is to be a leader in Canadian equine veterinary services. We will do this by setting a standard of excellence recognized by clients, employees and colleagues as a leading resource to the equine community.
47. Value Statement

We recognize and value the strength and uniqueness of each Client-Horse-Veterinarian relationship.
We are professional, ethical, innovative and available.
We are leaders in implementing current medical technologies and are an important resource to the equine industry.
We are committed to excellence in veterinary medicine, customer service and client education.
We provide a supportive, collaborative working environment where everyone can maximize their potential.
We are an economically sustainable business.
We are environmentally responsible.
Differentiating
48. Values
The nature of our motivation determines the character of our work
Dalai Lama
49. Where are we Now?
Competition
Customers
Ourselves
Services
Values
50. Case Example
Signalment

1.5 vet practice

51. 3 competing vet practices 52. One vet lacked bedside manner 53. Other vets part of mixed group practice 54. Last vet was very hungry 55. All were cheap