20 Jun 2025
Opportunities for growth may have become more scarce for some veterinary practices in the current economic and regulatory environment. However, there is still scope to expand for those with the right plans…
Gemma Barmby
Job Title
It may seem somewhat counterintuitive to think about business growth in the current economic landscape.
Over the past 18 months, many veterinary practices have observed slower revenue growth, less crowded operation boards and potentially fewer consultations1. Numerous reasons have been suggested, such as the economic downturn, government body investigations and a shift in the pet population demographics driven by COVID.
Regardless of these challenges, the veterinary sector remains generally economically stable due to the consistent pet population2 and the inevitable need for veterinary care.
And interestingly, despite this backdrop, we are witnessing the emergence of more start-ups and the expansion of existing practices. This demonstrates the demand for quality veterinary care remains robust and growth is occurring. However, it is crucial to recognise that growth comes in many forms and the key lies in understanding what kind of growth aligns with your business vision.
The question of “What do you want?” may conjure images of indecision over dinner plans, or the slightly exasperated thought that pops into your mind when someone interrupts your lunch break, but in the context of business it’s fundamental. A clear vision serves as the guiding light for your practice. It’s the aspirational, inspirational goal that keeps you motivated, even during tough times.
For many veterinary leaders, their practices were founded with a specific purpose in mind. Reflect on that purpose. If you are unclear about your vision, take the time to articulate it, write it down and share it with your team. A shared vision fosters a unified effort toward common goals. So, grab a cup of coffee (or wine) and ponder the following:
While this exercise can be challenging, clarity on your vision simplifies decision-making in the long term. Every growth strategy, idea or plan should propel you toward this vision. Whether you aspire to be the heart of a rural community or the leaders in veterinary innovation, make your vision clear, concise, and communicate it effectively.
Sometimes the need for growth is evident – a full diary, cramped facilities or clients queuing to register. Other times, the signs are subtler, or an opportunity comes out of the blue. In any case, a SWOT analysis (strengths, weaknesses, opportunities and threats) can provide valuable insights (Figure 1).
A SWOT analysis is simple, yet enlightening, and involving the entire team in this exercise can bring diverse perspectives. Different departments in your practice may highlight unique strengths and weaknesses, and engaging the team fosters a sense of ownership and contribution. A culture of collaboration not only enriches the process, but also aligns the team with the vision.
Many other ways of undertaking strategic assessments exist. Do some research and pick the one that you understand the most and will yield the clearest results. It doesn’t have to be complex; it just needs to be useful.
Growth for its own sake is not the goal. Do remember, before embarking on any grand plans, to address any existing weaknesses.
For example, if communication within your team is lacking, expanding to a branch surgery may exacerbate the issue. Similarly, if your processes are disorganised, more clients and staff will likely compound inefficiencies.
Strengthen your foundation by refining your client service standards, clinic protocols and team dynamics. Establish clear communication formats and expectations. Building on a robust foundation ensures sustainable and successful growth.
Once your vision is clear, and opportunities are identified, the next step is to translate it into actionable plans.
As the old adage goes, “Prior proper planning prevents poor performance” (the military version adds an extra “P”, but I’ll let you internet search that yourselves…). Putting in effort to have well defined plans will make it much easier to stay on track amid the daily hustle of practice and general life.
The human brain is a fascinating place, and the “Rule of Three” highlights this wonderfully. Our brains like patterns, and three is the magic number – it feels complete, satisfying, and effective.
So, let’s use this in our planning – be ruthless and pick your top three projects. What are the three key things you need to focus on to drive your business forward in the next year?
Once you have set those three projects, it’s time to make them SMART (Figure 2). This hones in on clarity, meaning we can use our time and resources more wisely and ultimately make it more likely that we will achieve what we set out to do.
We can then distil this down into: what are the top three things I need to focus on this quarter, this month, this week, even this day? Whatever it takes to ensure you are moving things forward and not getting stuck in the hamster wheel of daily life.
Now, this isn’t to say you should rigidly adhere to the plan. Stay with me here.
Rapid growth often demands adaptability and flexibility, those wonderful business-speak words. Plans are tools to keep you aligned with your vision, not rigid constraints.
Some unpredictability is inevitable – there will always be emergencies, team changes and unexpected distractions. A clear plan with defined objectives and deadlines allows you to measure progress and identify when changes are necessary.
This doesn’t mean rewriting your hard-worked-on plans, but recognising the potential need for adjustments. But we will only recognise we need to adjust if we are monitoring our progress, or lack thereof.
One way to assess progress is through OKRs (objectives and key results) and KPIs (key performance indicators). While KPIs are helpful for monitoring, OKRs provide a more purpose-driven approach to growth – KPIs with soul if you will – and these often will resonate more with your team.
If we have our top three projects, we can think about the objectives we want to achieve and the key measures we will use to monitor progress. Practice management software (PMS) and accounting systems are quite fancy these days and have a wealth of information in them. External tools, such as the Vet Dynamics Index (tinyurl.com/3cmx5s9a) provide an even deeper level of analysis. So set your objectives and think about what measures you will need (Figure 3).
Regular tracking of these measures – on a quarterly, monthly or even weekly basis – will allow you to assess whether you’re making the progress you want or identify potential barriers or issues hindering forward movement.
Yes, it is a little cheesy, but it is true that your team is the beating heart of your practice. Growth inevitably brings about change and the veterinary industry is rooted in evidence-based practices and a slight preference for routine, so changes can sometimes be met with resistance.
Change management is often an overused business term, but at its simplest it means guiding your team effectively through transitions – basically communicate with crystal clarity and consistency. Above all else being clear on communication is what will make the difference in your plans being successful, so brush up on your skills and really get your team on board for change, whether planned for, or otherwise.
Clearly outline the “why”. Summarise what’s changing (and what’s not), why it’s important (aligns with the vision), and the expected future benefits (for them and the patients).
Involve the team in planning and decision-making. We are pack animals at our core and people like to be included. This doesn’t mean every decision is made by committee, but listening to your teams’ insights and ideas can uncover valuable solutions.
Provide training and support to ease transitions. Change can be daunting, but equipping your team with the right skills and some protected time for conversations makes it smoother. Talk to your people, find out what they need to know, and highlight upskilling opportunities. Regular check-ins can also provide support during any transitions.
Review, celebrate, and improve. Monitoring progress is essential, but so is acknowledging achievements. Whether big or small, recognising milestones boosts morale. This is made all the easier if you’ve set clear objectives with timelines and measures (see how planning is important?)Reviewing outcomes also helps identify what’s working well and what needs adjustment, allowing for continuous improvement without disruptive overhauls.
To sum it up, business growth is exciting, potentially exhausting, yes, but exciting. By being really clear on your vision, setting strategic plans that align with that vision, monitoring KPIs, and communicating consistently and effectively, you can ensure that your practice grows in a way that is sustainable, purposeful, and ultimately beneficial for your patients, your clients and most importantly your team.
