Financial consulting: Sharing your clients’ burdens

  • Brian Reed Agricultural Veterinary Associates, LLC Lititz, PA 17543
Keywords: financial consulting, cost of production, succession planning

Abstract

This presentation explores how providing financial consulta­tion services to dairy clients in a practice situation can be a benefit to both the dairy client as well as to the veterinarian and veterinary practice. In practice, we provide value to our clients when we focus on the things that are a burden to them. Like other areas of focus in production medicine, our clients have many burdens in the financial management areas. The spec­trum of financial management services desired by our clients may include partial budgeting, monitoring cost of production, expansion planning, overall strategic planning, feasibility stud­ies, assistance with lenders, succession planning and transition of the business to outside interests. For those veterinarians who choose to do this type of work, and obtain the necessary train­ing to do it well, it can be a rewarding part of their professional career that expands and deepens their relationship with their clients. The presenter shares his journey becoming involved in financial consultation with his clients and offers insight as to opportunities and pitfalls learned along the way.

Published
2021-10-09
Section
Dairy Sessions