Business Success for Farriers
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Business Success for Farriers

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  • How is that working out so far?
  • Where are we now for vets. Photo of group of vets
  • Apple logo
  • What does this mean? If you were not there would anybody care?Easy to differntiate when you had the only DR in town. Or the first that did acupucnture or mri etc. Need more that now. What you need is to give the ultimate customer experieince. This is a people business. Just being a vet won’t cut it any more.
  • Restaurant
  • Apple vs Microsoft
  • BMW – The ultimate driving machine
  • BMW – The ultimate driving machine
  • BMW – The ultimate driving machine
  • BMW – The ultimate driving machine
  • BMW – The ultimate driving machine
  • Need a picture
  • IdentifySatisfykeep
  • Add stuff from handout
  • 255 resumes for 11 jobs23 jobs for every resume
  • First DR Good when experienced
  • Repro vet rebranding themselves.
  • Focus group should not have the vets. Have an outsider
  • Trucks and clothes
  • If you are this do you want this. McDonalds then a dirty slob serving
  • If you are this do you want this. McDonalds then a dirty slob serving
  • How you get staff on board first. They want to be part of this.Transparency = discuss tomorrow
  • As a leader you nend to be consistent and drive the changeShow the results from your research. Talk about the challenged, what the plan is and what you hope to achieve Makw them part of the solution
  • Unless you are healingahorse with a new and revolutinary technique what else do you have to offer. Who do you think encounters cleints more?
  • Pot of gold Run for the cureClient touch points
  • Culture club – Dos Equis, Volvo

Business Success for Farriers Business Success for Farriers Presentation Transcript

  • Farrier Business SuccessorIf Vets Can Do it Why Can’t We?
    Mike Pownall, DVM
    McKee Pownall Equine Services
    mike@mpequine.com
    www.slideshare.net/mpownall
  • Who’s Making Money Today?
  • Who Wishes They Were?
  • Farrier/Vets or Vets/Farrier
    More in common that you think
    Solo
    Bill clients
    Work hurt
    Retire & close up shop
  • What Do We Do?
  • Job vs. Business
    Job = An activity that earns money but does not create a residual value.
    Business = An activity that earns money ANDcreates a residual value
  • Components of a Succesful Business
    Goodwill
    Employ Great Farriers
    Excellent Business Processes
    Ability to Grow the Business
  • Goodwill
    Reputation associated with business
  • Employ Great Farriers
    Can’t have a business if nobody works for it.
    Potential partner or purchaser.
  • Business Processes
    AR
    Inventory
  • AR
    Collection at time of service
  • Inventory
  • Business Growth
    Marketing your business
    Creating a brand
    Social media
  • What Makes You Special?
  • What Happens When You’re Special?
    Value = Loyalty= Less Price Sensitivity
  • If you reduce your prices… you have to sell MORE to maintain your margin
  • Good, Cheap & Fast
    You can be 2 but not all 3
    Good and fast not cheap
    Cheap and fast not good
    Good and cheap not fast
  • Giving Value
    Marketing
    Branding
  • 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
  • The Farrier Business?
    How are we going to give value?
  • Marketing
    Competition
    Customer
    Customer
    Customer
  • Marketing Strategy
    Identify our challenges
    Create a plan
    How we will do it
    How will we measure it
  • Competition
  • Bargaining Power of Clients
    The internet
    Relative abundance of farriers
    Health of the local economy
    Non-traditional competition
    Price sensitivity
    Different breeds or disciplines
  • Threat of New Entrants
    New farriers in an area
    The internet
    Non-traditional hoof practitioners
  • Bargaining Power of Suppliers
    Increased costs from suppliers
    Decreased competition
  • Threat of Substitute Product
    Non farrier practitioners
    Internet
  • Competitive Rivalry
    New farriers
    Price cutting by other farriers
  • Who is Your Client?
  • Are You Missing Clients
    Market Segmentation
    Clients
    Breeds
  • What Does Your Client Want?
    Million $ Question
  • What do you offer?
  • What Does Your Client Think of You?
    Surveys?
    www.surveymonkey.com
  • Keeping Your Clients
    Branding
  • What is Branding
    What you stand for
    What you want to be know for
    Promise of
    Quality
    Service
    Performance
    Customer Experience
  • Why the Brand is so Important
    Develops a businesses identity
    Creates processes to deliver
    Springboard for change
    Clarity in an organization
  • 5 Steps to a Brand
    Based on values, vision and mission
    Driven by leadership.
    Develop with communication
    Make it fun
    Encourage change
  • Mission, Vision & Values
  • 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
  • Vision Statement
    What you want the practice to be
    .
  • Value Statement
     
    “The nature of our motivation determines the character of our work”
    Dalai Lama
    Differentiating
  • Leadership
    Fitzpatrick
  • Your Staff is Key?
    We shoe horses
    We deliver the brand
    Happy employees = happy clients
  • Communication
  • Have Fun
  • Evolve
  • Other Impacts To Your Business
    Earn a living while not shoeing
    Something to sell
  • Does it Work?
    Less HR headaches
    More fun at work
    Business growth
    Decreased costs
    Loyal clients
    Fired clients!!
  • Final Words
    Essential
    Be patient
    Be consistent
  • Spreading the Word?
    That’s next!