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All Business

When you decide to invest in the stock market, keep in mind something that professional analysts must remember: Investing always requires weighing potential risk against potential award.

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I suspect our sick-leave policy encourages employees to take time off when they're not really ill. Is there any way to prevent this?

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Are your waste bins full of paper, cans, plastic, cardboard, and other recyclables? Use these quick tips to launch a recycling program in your practice.

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Fitting in the lineup

Sometimes it's tough for a new associate to find his fit as part of the team, but having a good relationship with those up and down the roster is important for growth and success.

Lynn Kessel, practice manager at Round Rock Animal Hospital in Round Rock, Texas, firmly believes that every hospital manager needs someone to vent to, share ideas with, or solve problems with. "The doctors are busy, and it may not be appropriate for a manager to share certain issues with employees," she says.

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You may like the sound of doing it all, but that's not usually the most efficient way to work. So change your tune and leverage your team members more to increase your sanity?and the practice's profitability.

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We asked new grad Dr. W. Andrew Rollo to team up with experienced practitioner Dr. Philip VanVranken to talk about the worries practitioners face in that first year?and what owners and associates can do to smooth the transition to practice.

Well-managed practices work on management issues proactively, looking for ways to improve and innovate rather than just responding to the fires that arise each day. Of course, striving for excellence isn't a one-person job. And getting your team involved in finding better ways to serve clients is a great first step to being more proactive.

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Q I'm a recent graduate, and I find that the clients I see have no preference for which doctor examines their pet. How can I develop my own clientele?

A new campaign launched by the American Association of Equine Practitioners and Fort Dodge Animal Health aims to let owners know their horses should get exams twice a year—in the spring and fall.

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One of the great things about working on a magazine is that every month our team gets to meet more veterinarians. There are always new people calling with a question, sending us letters and practice tips, and submitting articles. Building those new relationships is very rewarding. And each one of you has an interesting story to tell.

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Think small

At one time, the mass market was every veterinarian's target population. Today's best strategy, however, is niche marketing, which targets a specific population of pet owners, identifying their needs, and then addressing those needs more competently than anyone else.

A new 401(k) option

Starting this month, 401(k) plans can offer a Roth 401(k) provision—which could be a better option for your retirement savings.