312 - My Practice Owner Spends Too Much Money

The Uncharted Veterinary Podcast

Ever felt caught in the middle when it comes to practice finances? A practice manager wrote in, sharing their frustration with an owner who regularly draws large amounts of money from the business—leaving the practice struggling to cover bills and payroll. In this episode of the Uncharted Veterinary Podcast, Practice Management Super Nerd, Stephanie Goss and guest Dr. Sue Sayles dive into the tricky dynamics of managing practice finances when the owner’s withdrawals disrupt cash flow and this practice manager's morale. With 23 years of practice ownership under her belt, Dr. Sue has seen it all. She started out as a mixed-animal practitioner, then built a thriving small animal practice, growing it from $300k in revenue to over $2 million. She knows firsthand the challenges of balancing financial needs with business growth, and today she’s passionate about helping other practice owners and managers navigate these waters. Stephanie and Sue share actionable insights on how to structure tough financial conversations, establish trust, and support the owner’s goals while keeping the practice afloat. They discuss ways to approach sensitive topics, build financial systems that work for both parties, and ultimately foster a practice environment that supports everyone’s success—even when priorities don’t always align. If you’re looking to navigate the rough seas of practice finances and improve team morale, this episode is for you. Let’s get into this episode! 🌟 Build a Stronger Leadership Team! Ready to unlock new potential in your veterinary team? The Leadership Essentials Certificate offers a comprehensive on-demand program designed for veterinary leaders, featuring 8 hours of CE. This certificate program equips you and your team with the tools to create a high-performing, collaborative environment. For Uncharted members, it’s included in your membership, making now an ideal time to dive in and grow together! Whether you're a practice owner or team lead, elevate your practice's leadership game today. Start shaping a thriving future here: https://unchartedvet.com/certificates/ 🌟 Discover the Power of Effective Practice Ownership at the 2024 Summit! https://unchartedvet.com/practice-owner-summit-2024/ Take charge of your practice’s success! From December 5-7, 2024, join us in Atlanta for the Practice Owner Summit, crafted specifically for veterinary practice owners ready to elevate their business. This immersive event covers essential business strategies, leadership insights, and practical solutions designed to streamline your operations for long-term success. With expert-led sessions and networking, it’s more than a conference—it’s a step into a supportive community that gets your challenges. Reserve your spot today and pave the way for a prosperous future for your practice! Upcoming events: unchartedvet.com/upcoming-events/ All Links: linktr.ee/UnchartedVet Do you have something that you would love Andy and Stephanie to discuss on the podcast? If so, send us a message through the mailbag! Submit it here: unchartedvet.com/mailbag