From The Corner Office IX - Amy Shroff

In each issue, we interview a President/Owner of a small or medium sized business to talk about their business perspectives and their company's direction. Each issue will feature a sampling of some key questions every business owner must consider. This month we sat down with Amy A. Shroff, VMD, Emergency & Critical Care Department Head, Chief of Staff, and owner of the Veterinary Specialty Center of New England (VESCONE).

Q: What turned out to be the most surprising thing you have learned as you have been running your business?

I am so impressed with the fact that when all the systems are in place and you treat your clients and colleagues/staff well, it really works! You end up with a workplace that you want to come to work in, are very proud of, and that everyone else also feels pride in. Of course, as in every business there are some parts that are trying. However, my staff never cease to amaze me - by what they handle when given the freedom, the control, and the power to do what they need to do. Empowerment is very important, especially for veterinary hospitals, given that we treat animals that are often in critical care situations. One of the biggest motivators I've seen work is treating staff well. It really makes a difference in the entire organization.

Q: You recently completed a buy-out of your partner. What are the top three things you need to consider when you are acquiring a business or buying out a partner?

The first thing to consider is to make sure that both you and your partner know and understand an accurate financial picture of the business. Secondly, get good solid advice from individuals (such as business advisors, lawyers, financial specialists) both inside and outside the veterinary business community. And thirdly, be willing to compromise on small things, while at the same time not compromising your vision(s) of the business' future going forward.

Q: As you look at growing the business in this next stage of its lifecycle, what is your focus?

My vision is for it to be a complete service and referral hospital with a full complement of medical specialties. We are working on adding acupuncture and physical therapy. Then later on we'll add neurology, dermatology, and cardiology. In order to reach those goals, we need to look at where we are now from a financial, operational, and customer base standpoint. We are actively reassessing our financial systems, inventory control systems, and budgeting. We will grow VESCONE to where it needs to be by adding specialists, new equipment, and expanding our workspace. Ultimately, this means bringing all of our services under one roof.

Q: Your business is unique in that you are marketing to both other businesses in your market space, as well as marketing directly to consumers. What challenges do you see in doing both Business-to-Business and Business-to-Consumer?

We have always marketed to both groups, by virtue of what each specialty service needs and their client base. Emergency and critical care rely mostly on referring veterinarians for referrals. We also do take in 30% of their cases from walk-in clients. There is also some overlap when we market to both groups. There is a lot of competition out there and we need to stay ahead of the rest of the hospitals by creating focused marketing plans. Not many hospitals employ marketing teams, so looking to other practices to see how they have done things has not been helpful for us. Instead, we have had to break ground and experiment with what works in both B-to-B and B-to-C. We've always marketed to the consumer via radio, newspapers, TV, and events. The reality is that B-to-B is much harder. Letting the referring hospitals know that we are here and what we have to offer is difficult when we are competing with the all the many things they must do to manage and keep their businesses going. Getting their attention and ear is not always easy.

Q: Every entrepreneur has some core beliefs about what makes their business possible. In thinking about VESCONE - what is the most important aspects of it in your eyes?

Our mission at the Veterinary Emergency & Specialty Center of New England is to provide exemplary service with compassionate state-of-the-art veterinary specialty care. These factors, as well as our core belief of treating one another with respect, impact our clients, staff, and all who work at or with VESCONE. Leading by example is another core belief I have for this practice. I would not ask anyone to do anything I would not, or have not, done myself at some point in my career. At the end of the day, we may not be the biggest in our market, but we want to be the best at what we do.

© RossFialkow Capital Partners, LLC

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