Your Bank: Vital for Practice Growth
Your practice can’t grow without support.
I always tell people they need 4 expert relationships to manage their practice efficiently. Read why you need an accountant and a lawyer as well.
#3 of the 4 is a financial institution.
I tell all the vets I work with that they need more than just a bank account.
You need a collaborative relationship with your local financial institution.
You’ll need this strong relationship when you want to invest in a new piece of equipment or launch your surgery center.
Don’t let financial limitations hold you back.
Even if you don’t need financial support at the moment, build the relationship now.
When you do need a bridge loan or a short-term loan to borrow money, your bank will already know you and your business.
Having a trusted bank in your arsenal gives you:
Leverage to negotiate with that bank for better loan terms.
Access to quick financial assistance when needed.
Guidance when making large financial decisions.
Your bank advisor will also work with your accountant and, if needed, your attorney.
Having access to financial support allows you to grow your practice. Now you have to identify where you need that support.
Start tracking KPIs to uncover profitability opportunities in your practice and identify areas of financial success to share with your bank.
