Everything's better with a plan, right? And while it doesn’t seem like the typical time of year to talk about budgeting, today’s guest enlightens us that it is always the right time to budget. Lisa Yackel joins the VHMA Podcast today to show us why and how to implement a budget.

Lisa has over 45 years experience in the field and has gone through many changes in budgeting over those years. As things continue to evolve for the industry, one thing remains consistent: it all starts with awareness. Lisa is a big believer in developing a team culture and explains the importance of communicating the budget in an educational way. When everyone is on the same page, plans are more likely to stay intact instead of fall apart. 

Lisa shares tons of great ideas so you don’t want to miss this episode to get your practice’s budget implemented successfully.

Show Notes:

[1:51] - Lisa shares about her background and how much depended on budgeting.

[3:06] - In the past, veterinary practices weren’t truly considered a business. But over time that dynamic has changed and it’s necessary for a finance department.

[4:47] - Educate the practice managers and owners about budgeting.

[6:40] - Budget for things that people don’t always think about.

[8:12] - It all starts with awareness, consistently, and culture.

[10:06] - Veterinarians need a return on investments. Make a plan to ensure that happens.

[11:47] - Once you budget for a year, it is not set in stone. Lisa adjusts the budget every month.

[13:01] - How can you present a budget to the team?

[14:33] - Lisa shares a story about a septic tank issue that impacted the budget.

[16:50] - Translate to the team where money is going.

[18:22] - Bring in games to meetings to help educate everyone on the budget.

[20:22] - Creating a budget takes time but it is very worth the time invested. Lisa gives tips on how to get started.

[22:36] - Sometimes ideas do not work out according to plan and it creates a budgeting problem.

[24:19] - Budgeting needs to match the core values of the practice.

[25:40] - It is important to practice what you preach.

[27:16] - Debbie minimizes turn over with paid birthdays off and notes that you have to have staff morale written into the budget.

[29:23] - Although not always the popular opinion, Lisa believes in efficiency.

[32:05] - Budgeting is not all just numbers. There are strategies to think about.

Thank you for listening. Remember you are not in this alone. Visit our website for more resources.

Links and Resources:

 

VHMA Web PageVHMA Coronavirus Resources VHMA Facebook VHMA Twitter VHMA on Linkedin Lisa Yackel on LinkedIn