Program

Business Fundamentals for Veterinary Practice Startup and Ownership in Rural Communities

Started Mar 1, 2025
10.5 credits

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Full program description

Program Overview:
This course provides a comprehensive roadmap for launching and managing a successful veterinary practice, guiding participants through every critical stage of planning and execution. From identifying unique challenges and market opportunities to conducting preliminary research and defining a target market, the course equips participants with actionable insights to build a strong foundation. Sessions cover essential topics like analyzing the competitive landscape, crafting marketing and sales strategies, and creating a financial plan with a 3-year forecast, ensuring participants have the tools to attract customers, manage resources, and sustain growth.
 
In addition to practical guidance, the course emphasizes strategic decision-making through milestones and metrics, helping participants set clear goals and track progress effectively. With a focus on operational excellence and team building, participants learn how to leverage their strengths and address gaps by building strong advisory networks. This 11-unit program will be delivered as a monthly webinar series with accompanying online course content. One hour of CE credit will be awarded for each completed session, and participants have the flexibility to attend individual units based on their interests and needs, earning CE credit accordingly.
 
Program Sessions:
Session 1: Problems and Solutions
This session helps participants identify and address unique challenges in their market. It covers defining market needs, understanding gaps in services, and highlighting what makes their business essential. Participants will explore how to position their offerings as solutions to unmet needs and emphasize their unique value proposition. By focusing on customer expectations and specialized offerings, businesses can stand out in competitive markets.
 

Session 2: Market Research
Participants will learn to analyze their market and develop strategies to connect with customers. The session focuses on identifying target audiences, understanding demographics and psychographics, and evaluating site selection. It also covers customer acquisition strategies and aligning offerings with customer needs.

Session 3: Preliminary Data within the Rural Market
This session emphasizes the importance of understanding industry dynamics and competitors. Participants will learn how to research national, state and local industry trends to inform decisions and build credibility. The session covers methods for analyzing competitors and conducting research to create a strong foundation for their business plan.

Session 4: How to Evaluate an Opportunity
This session provides tools for assessing the viability of business opportunities. Participants will explore methods for identifying market gaps, evaluating potential demand, and determining the feasibility of their plans. The session emphasizes making data-driven decisions for long-term success.

Session 5: Target Market
This session helps participants define their ideal customers and analyze market segments. It covers strategies for addressing local trends, assessing competition, and positioning services to meet specific customer needs. Participants will learn to segment their market effectively and target unmet needs.

Session 6: Competition
This session focuses on analyzing the competitive landscape and differentiating your business. Participants will assess current alternatives and identify advantages that set their business apart. The session emphasizes defining unique value propositions and leveraging strengths to compete effectively.

Session 7: Marketing and Sales
Participants will develop a marketing plan and sales strategy to attract and retain customers. The session covers activities like branding, advertising, social media, and pricing strategies. It also includes techniques for converting leads into paying customers and managing sales processes effectively.

Session 8: Operations
This session focuses on streamlining business operations to ensure efficiency and scalability. Participants will explore resource allocation, workflow management, and tools for maintaining operational excellence. The session emphasizes aligning operations with business goals.

Session 9: Milestones and Metrics
Participants will learn to set clear business milestones and track key performance metrics. This session covers creating timelines for critical tasks, defining success metrics, and using data to adjust strategies. By tracking progress, participants can ensure their business stays on track and achieves its goals.

Session 10: The Team
This session guides participants in defining their business ownership, structure, and management team. It emphasizes showcasing the strengths and experience of team members while addressing gaps with advisory support. Participants will explore strategies for building a strong team and leveraging external mentors or advisors.

Session 11: Financial Plan and Forecast
This session equips participants to create a detailed financial plan, including a 3-year projection. It covers identifying revenue streams, managing expenses, and understanding cash flow. Participants will learn to track assets, handle personnel costs, and develop strategies for maintaining financial stability.

 
Format
New sessions are launched monthly.
Sessions are self-paced and can be completed in any order.
 
Program Facilitators
Craig Payne, DVM, MS
Director, Veterinary Medical Extension and Continuing Education
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Pamela Adkins, DVM, PhD, DACVIM
Associate Professor, Food Animal Medicine and Surgery
 
Laurie Wallace, DVM, MVSc
Director, University of Missouri Veterinary Online Programs
 
Department: 
Veterinary Extension and Continuing Education
 
Credit:
Approved for up to 11 hours of veterinary continuing education by the University of Missouri College of Veterinary Medicine
 
Audience:
Veterinarians, Veterinary Students
 
Accommodations
University of Missouri Extension complies with the Americans with Disabilities Act of 1990. If you have a disability and need accommodations in connection with participation in an educational program or you need materials in an alternate format, please notify your instructor as soon as possible so that necessary arrangements can be made. Language access services, such as interpretation or translation of vital information, will be provided free of charge to limited English proficient individuals upon request. All requests must be made a minimum of 14 days before course start date. MU Extension will attempt to implement late requests but cannot guarantee they will be met.
 
Cancellations and Refund Requests
Access MU Extension’s Course Cancellation and Refund Policy for details.