Building a Business Mindset in Veterinary Medicine with Dr. Peter Weinstein

Not often do you get to sit down with someone who has seen and done it all in veterinary medicine. In this episode I'm thrilled to welcome Dr. Peter Weinstein, veterinarian, author, educator and long time leader in the profession. From his early days as a teenage kennel worker to running a successful practice and now teaching business and finance at Western University of Health Sciences, Dr. Weinstein has a wealth of knowledge on what it really takes to succeed in veterinary medicine.

Over the years Dr. Weinstein has worn just about every hat in the industry. He's been president of both the Southern California and California Veterinary Medical Associations, co-author of the book The E-Myth Veterinarian and was involved in strategic planning for the Veterinary Hospital Managers Association. Today his focus is on helping the next generation of veterinarians understand the business side of the profession—an area that was often overlooked in the past.

In this conversation Dr. Weinstein shares stories from his early days in practice, his love of teaching and why he believes every veterinary professional should think of themselves as a small business. He also talks about the growing interest in practice ownership among young vets, the importance of mentorship and what he's seeing in the profession today as we settle into a post pandemic world. Whether you're a practice manager, student or seasoned vet this episode is full of valuable insights from someone who has helped shape the profession for decades.

Show Notes:

[01:10] I've known Dr. Weinstein for well over 15 years.

[02:40] We learn how Dr. Weinstein was inspired by the book All Creatures Great and Small.

[03:20] He decided he wanted to be a veterinarian in his early teens. He volunteered at a kennel at 15 and worked his way up. Then he went to veterinary school.

[05:10] He's been a member of VHMA since a year or two out of veterinary school.

[06:14] Dr. Weinstein is also teaching at the Veterinary College of Western University of Health Sciences.

[09:21] How focus has finally shifted to the importance of business curriculum for veterinary students. Each school has a Veterinary Managed Association (VBMA) that helps students better understand business.

[10:03] Veterinary medicine is a service industry that provides healthcare.

[11:30] There's plenty of opportunity to enhance the education of veterinary students and encourage them to own their own business.

[12:45] Every individual is a small business, because we have to operate ourselves with a budget and a game plan.

[14:17] Dr. Weinstein talks about the advantages of owning something and building a legacy.

[16:29] Encouraging the baby boomer generation of hospital owners to look to their associates as an exit strategy.

[17:39] We learn what Dr. Weinstein spoke about at Fetch dvm360.

[18:26] One of the most interesting questions was how to institute change in leadership that is resistant to change.

[21:07] We talk about the mental and physical exhaustion post pandemic.

[23:25] We learn about Dr. Weinstein's mentors.

[26:40] We learn about Dr. Weinstein's family and how they talk about animals and life!

Links and Resources:

Dr. Peter Weinstein - LinkedIn

The E-Myth Veterinarian

Simple Solutions for Vets

Western University College of Veterinary Medicine

Dr. Peter Weinstein - Instagram

All Creatures Great and Small