Do you need an "entrepreneurial spirit" to make it as a vet?

[canyonman]

I recently shadowed a veterinarian who told me that one needs an "entrepreneurial spirit" to make it as a veterinarian. Here's the problem: I have no entrepreneurial spirit. I've just never had any desire to own my own business. That's not to say that I won't ever own my own practice, but I've never really had the desire to do so. Is that a problem if I want to become a vet? Am I wrong in thinking I would be fine being an associate veterinarian for most of my career? Again, I'm not saying there's no way I'd ever own my own practice, but as of now I really don't have the burning desire to, as I know many people do. I plan on going into LA or equine, if that changes anything.

---

Members don't see this ad.

 

[deleted498041]

I recently shadowed a veterinarian who told me that one needs an "entrepreneurial spirit" to make it as a veterinarian. Here's the problem: I have no entrepreneurial spirit. I've just never had any desire to own my own business. That's not to say that I won't ever own my own practice, but I've never really had the desire to do so. Is that a problem if I want to become a vet? Am I wrong in thinking I would be fine being an associate veterinarian for most of my career? Again, I'm not saying there's no way I'd ever own my own practice, but as of now I really don't have the burning desire to, as I know many people do. I plan on going in to LA or equine, if that changes anything.

Also, please don't tell me I can go into government/ inspection/ USDA type of work. I realize that, but that really does not sound like something I want to do either.

I've been told by many people that I should "live the American dream" and start my own business. I'm not even American! That being said, I don't want to start my own practice. Buying an existing practice and continuing to run it is an option for me at this point, so I'm keeping that in the back of my mind, but that's a long way down the road.
That being said, I don't think not having an "entrepreneurial spirit" will hold you back at all.

 

[SocialStigma]

I have zero desire to ever own a practice, I'd be perfectly content working at a referral practice or in academia for the rest of my career.

 

[that redhead]

I recently shadowed a veterinarian who told me that one needs an "entrepreneurial spirit" to make it as a veterinarian. Here's the problem: I have no entrepreneurial spirit. I've just never had any desire to own my own business. That's not to say that I won't ever own my own practice, but I've never really had the desire to do so. Is that a problem if I want to become a vet? Am I wrong in thinking I would be fine being an associate veterinarian for most of my career? Again, I'm not saying there's no way I'd ever own my own practice, but as of now I really don't have the burning desire to, as I know many people do. I plan on going in to LA or equine, if that changes anything.

I sure hope not - I also have no desire to own my own clinic and I gradaute in a few weeks.

That being said, many veterinarians I've spoken with have lamented the lack of business training in vet school. Many people do end up branching out on their own and are then faced with the struggles of starting a business without much (or any!) prior knowledge. But not wanting to follow that popular route doesn't mean you shouldn't be a veterinarian.

Also, please don't tell me I can go into government/ inspection/ USDA type of work. I realize that, but that really does not sound like something I want to do either.

You would (and will) be surprised at what you find yourself liking during your education. My advice: don't discount anything just yet.

 

[CalliopeDVM]

No, you don't need to want to own your own practice - but it will surprise people who will wonder why you don't. Most clinical vets do eventually open their own practice, so don't be surprised if you get questions about it. I've been a vet for 15 years and will never open my own clinic. I thought about it about 10 years ago (because that was what it seemed everyone thought I should do), and decided I didn't want to do it and I haven't changed my mind since. Still, people are surprised by that, assuming I don't have my own practice because I'm either lazy or unskilled - until they find out I'm neither. It's just I want to be a vet, not run a business, and the longer I'm in practice, the less I want to own.


Edited to add some thoughts about what an "entrepreneurial spirit" is, and how you might still need a little of that kind of attitude.......Some of the attitudes are really a part of being a good vet, even if you're working for someone else: Having a desire to learn more move forward - but that doesn't mean move forward in business. It might mean move forward in your knowledge or understanding, or with specific skills. Wanting to learn to tie better surgical knots to improve the safety of your work is part of an entrepreneurial spirit, but not in the way most people think of things. Having a desire to find new and better ways of doing things - again, it doesn't mean necessarily about business, but perhaps a new way to approach clients or a new way to schedule your surgical day. I do think vets need at least a little "entrepreneurial spirit", even though they do not need to be entrepreneurs or business owners. Otherwise, they'll get stuck in a rut medically and professionally, which is death to the idea of being a good vet. This profession moves too fast to not learn new things.

 

[LetItSnow]

I notice how many responses are from people who immediately say "I don't want to own a practice."

I think people are making mistake if, in their minds, they equate "business sense" and "entrepreneurial spirit" with "owning a practice." I saw that in a lot of my classmates, too.

Ok, great. But you still need to have <some> business sense, and you need to educate yourself at least a LITTLE about what business pressures are on a practice. If we're talking about general private practice, many places are still relatively small businesses with one-four owners. Don't be one of those vets who leaves the ivory tower, goes out into a private practice, and immediately starts criticizing them because they don't have this equipment, don't have that equipment, do such-n-such a procedure a certain way using meds from the dark ages, etc. A lot of those things are going to have been business decisions. And your ability to lobby for purchasing some of those things is going to depend largely on your ability to make a business case for them. And to the degree you understand the business side of things, the more valuable you're going to be to your employer.

 

[deleted498041]

I notice how many responses are from people who immediately say "I don't want to own a practice."

I think people are making mistake if, in their minds, they equate "business sense" and "entrepreneurial spirit" with "owning a practice." I saw that in a lot of my classmates, too.

Ok, great. But you still need to have <some> business sense, and you need to educate yourself at least a LITTLE about what business pressures are on a practice. If we're talking about general private practice, many places are still relatively small businesses with one-four owners. Don't be one of those vets who leaves the ivory tower, goes out into a private practice, and immediately starts criticizing them because they don't have this equipment, don't have that equipment, do such-n-such a procedure a certain way using meds from the dark ages, etc. A lot of those things are going to have been business decisions. And your ability to lobby for purchasing some of those things is going to depend largely on your ability to make a business case for them. And to the degree you understand the business side of things, the more valuable you're going to be to your employer.

I 100% agree with your post, but I think that most of us assumed it meant "owning a practice" since the definition of an entrepreneur is someone that operates a business -- usually equated with being an owner.
I think a lot of people completely disregard having good business sense when they get into vet school/graduate vet school. It can't be exaggerated enough how good it is to have an idea of how much things cost, what you can do to afford that shiny new toy you want for your practice, and be aware of how much it will cost the hospital to close early/stay open later. Every decision made will have a financial reaction, and it would behoove us to be aware of those when we graduate.

 

[CalliopeDVM]

since the definition of an entrepreneur is someone that operates a business -- usually equated with being an owner.

Not really. An entrepreneur is more than just a business owner and operator - more specifically, an entrepreneur is someone who starts and runs their own business that focuses on their own ideas, plans, or creations. Operating a franchise outlet does not make you an entrepreneur, even though you operate a business, if you are simply following the pre-set pattern created by someone else. The same could be said for some veterinary clinic partners, who may be in the position of being an investor (providing capital) and worker (providing veterinary services), but choose to have little to do with creating the environment or new ideas.

And, to LIS: not wanting to own a practice doesn't mean you don't have (or don't use) business sense, only that you don't want to make that responsibility a part of your life. I don't enjoy management - of money or people - so I have no desire to make clinic ownership a part of my life. I can manage finances and employees fairly well but it's not fun, and the pay-off (in equity or pride) simply isn't worth it to me. As it happens, I am a self employed relief vet, so I do technically own my own business, but I have only one employee (me), very few expenses, and almost no overhead.

 

[that redhead]

I notice how many responses are from people who immediately say "I don't want to own a practice."

I think people are making mistake if, in their minds, they equate "business sense" and "entrepreneurial spirit" with "owning a practice." I saw that in a lot of my classmates, too.

Ok, great. But you still need to have <some> business sense, and you need to educate yourself at least a LITTLE about what business pressures are on a practice. If we're talking about general private practice, many places are still relatively small businesses with one-four owners. Don't be one of those vets who leaves the ivory tower, goes out into a private practice, and immediately starts criticizing them because they don't have this equipment, don't have that equipment, do such-n-such a procedure a certain way using meds from the dark ages, etc. A lot of those things are going to have been business decisions. And your ability to lobby for purchasing some of those things is going to depend largely on your ability to make a business case for them. And to the degree you understand the business side of things, the more valuable you're going to be to your employer.

Excellent points, but I think of an entrepreneur in the traditional sense of starting up, owning and managing a business. I agree 100% that some business sense is important (we can't give away everything for free, it doesn't make sense to buy an ultrasound machine if no one knows how to use the damn thing nor want to learn, etc) but an "entrepreneurial spirit" implies wanting to start ones own clinic or take on a bigger role in the administrative/business side of things, at least in my mind.

 

[StartingoverVet]

HEre's my "uneducated" opinion....

If you look at the numbers, the people who make a good living in vet med own their practices (or part thereof)...
therefore, the advice OP received is clearly based on the desire to be financially successful in this industry.

Can you be successful financially without owning a practice? Sure, but not as likely.

Can you own a practice without being entrepreneurial? Well, perhaps, as some show some inclination to inherit/buy out another practice/let others run it, but if you want my opinion (and I am giving it anyway), if you don't have that spirit you SHOULD NOT be an owner of a practice, because just running things the way they used to be run is a recipe for disaster, and letting others make decisions while you are a part owner is also lazy and a recipe for disaster unless you really have someone you trust and who thinks you are worth keeping around without contributing to the biz. Way too many vets are owning practices, don't want to be involved in management, and running these places poorly.

 

[DVMDream]

If you are going to work in private practice whether that be small, equine or large animal you do need to have some form of business sense and leadership ability. You are going to have to manage techs, receptionists, delegate tasks, etc even as only an associate because you won't always have an owner on site. You have to know what does make good business sense and what does not.

Entrepreneurial sense, maybe not as much. You don't have to have the drive to start your own business to be a vet. Taking that risk of putting a ton of money and time into creating a business from scratch, no, you don't need to have that. But knowing a bit about business or being willing to learn about business so that you can be a good asset and associate for the clinic that you are employed at, yes, you do need some of that. An employer is going to be much more impressed with you if you can already start talking about some business aspects such as average client transaction, how many appointments are seen on an average day, surgeries performed and number, thoughts on cosmetic surgeries, convenience euthanasia thoughts, staff meetings, number of support staff to number of vets, etc; these are all business decisions and aspects of the business that are important and should be of thought to any associate vet.

 

[LetItSnow]

I 100% agree with your post, but I think that most of us assumed it meant "owning a practice" since the definition of an entrepreneur is someone that operates a business -- usually equated with being an owner.

But that's exactly my point - you may not be the 'owner', but you are definitely (helping) to operate the business. And to the degree that your contributions positively effect the business, you'll be more valued by your employer. So it behooves ANY vet student to get some basic business knowledge.

I'm *amazed* at how many vet students just say "I don't want to own a practice" and then use that as an excuse to avoid learning *anything* about business. I mean. It doesn't have to be a LOT. Just learn how to read a P&L. Learn to consider the business side, not just the medical side. You don't have to be an expert, you just have to have it on your radar - and an astounding number of vet students don't want to do that.

And, to LIS: not wanting to own a practice doesn't mean you don't have (or don't use) business sense, only that you don't want to make that responsibility a part of your life.

Agreed, and I don't think I said (or implied) as much. But what I've observed is how many people use not wanting to own a practice as an excuse for ducking out on learning some basic business skills. And THAT probably is detrimental to their careers.

an "entrepreneurial spirit" implies wanting to start ones own clinic or take on a bigger role in the administrative/business side of things, at least in my mind.

I don't really see it that way? 🙂 An "entrepreneurial spirit" can be as simple as saying "hey .... this thing over here might be a great addition to our clinic, and here's why" (and why should include the medical AND financial benefit).

 

[DVMDream]

Agreed, and I don't think I said (or implied) as much. But what I've observed is how many people use not wanting to own a practice as an excuse for ducking out on learning some basic business skills. And THAT probably is detrimental to their careers.

It is definitely a detriment to their careers if they are at all on any form of a production based salary (which seems to be somewhat common). Going to want to know some business things simply for your own good as well as the good of the clinic.

 

[chickenlittle]

While an increasing number of my classmates (10 years out) own their own clinic, I'd say the majority of us are still associates with no intention of ownership. Would I LIKE to own my own clinic? Sure!! But when I really think about the commitment, I know it isn't realistic for me (have one kiddo and hoping for another within the next 1-2 years, husband has a demanding career of his own, etc).

What I DO think you need, though, is business sense. I see far more veterinarians hurt by their lack of productivity than by their medical skills. Even my current employer, who emphasized heavily at my interview that he doesn't pay much attention production, just wants a friendly team environment, etc etc pulled me aside a couple of weeks ago and criticized me for the fact that my January & February production were the same as my production in those same months last year while overall my numbers have been up about 20-30% over last year. I have no clue why I was slow those two months this year (well, I was out of town for a week during January, but I honestly don't know what happened in February), my production in those months was more than enough to support my base salary (I get paid 18% of what I produce, which is low), and my March production is on track to be 35% higher than last March, but it doesn't matter. The damage has been done, this issue was brought up several times in a short period of time, they've decided I don't have the work ethic they're looking for, and they're already searching for my replacement. (Luckily, I accepted another position on the very day that I saw they had placed an ad!) They repeatedly told me what an excellent doctor I am (which was flattering), but saying that I just wasn't increasing my numbers enough. Based on TWO MONTHS. Grr. But I'm not bitter or anything.

Soooo yeah, business skills and salesmanship are necessary. Entrepreneurial spirit, not so much.

 

[Gemgrrrl]

To me "entrepreneurial spirit" means being able to make the most of what you have - through innovation, creativity, and determination. That could mean building a new business from the ground up. Or it could mean designing a truly elegant experiment in the lab. Or figuring out how to make things work in the field or in an emergency situation when you have limited access to supplies. From what I have seen, the reality of veterinary work is that you often don't have everything you would want or need because there just isn't the budget for it - whether it's the clinics budget, or the clients. You have to find a way to make things work anyway.