Month: December 2023

From Animal Care to Leadership With Keri Riddick (Ep. 5)

From Animal Care to Leadership With Keri Riddick (Ep. 5)

Does a passion for animals ensure success in veterinary practice management? 

Step into the intriguing world of veterinary practice management with host Marcia Miller, a finance professional from RFG Advisory, as she welcomes Keri Riddick, former veterinarian and current executive director of the Georgia Veterinary Medical Association, to tackle this thought-provoking question.

Listen in as Keri recounts her journey from aspiring equine surgeon to leading a mixed animal practice and ultimately guiding a major veterinary association. The discussion sheds light on the often-overlooked business management challenges faced by veterinarians, especially those with limited business training.

Key Highlights:

  • Business Skills in Veterinary Practice: Gain insights into how business and negotiation skills can level the playing field for veterinarians
  • Emotional Challenges: Explore the delicate balance between emotional connections with animals and the pragmatic aspects of veterinary practice management
  • The Value of Support: Find out why a knowledgeable business advisor or partner is indispensable for making informed decisions in veterinary practice
  • Educational Insights: Follow Keri’s educational journey, highlighting how accounting classes were pivotal in her transition to a leadership role in veterinary medicine
  • Open Communication: Learn the importance of asking insightful questions and fostering open dialogue for growth and understanding in the veterinary field
  • Challenges in Veterinary Medicine: Dive into critical issues like staffing shortages and professional identity crises, and how organizations like GVMA are providing essential support
  • Networking and Community Support: Discover the transformative power of networking and relationship-building for professional development, with GVMA at the forefront of these efforts
  • And much more!

 

Resources:

Connect with Marcia Miller: 

Connect with Keri Riddick: 

 

About Keri Riddick: 

Dr. Keri Riddick received her Bachelor of Science in Microbiology in 1997 from Auburn University and her DVM from Auburn University College of Veterinary Medicine in 2000. After veterinary training, she went to Birmingham, Alabama where she practiced mixed animal medicine for 2 years and then emergency medicine for 5 years. In 2008, she purchased a small animal hospital in Columbus, Georgia. Dr. Riddick has been an active member in the Georgia Veterinary Medical Association (GVMA) and following the sale of her practice she joined the GVMA team and has been serving as the Executive Director for the GVMA since 2022.

Is Selling Your Practice Enough? With Rick Wedell (Ep. 4)

Is Selling Your Practice Enough? With Rick Wedell (Ep. 4)

Have you ever questioned whether selling your veterinary practice (or any practice really)  is enough for a secure retirement?

Join us in the latest episode of the “Making Hay Podcast,” where host Marcia Miller invites Rick Wedell, Chief Investment Officer at RFG Advisory, for an insightful discussion on financial planning and retirement. This episode goes beyond conventional retirement advice, emphasizing the importance of early planning, accurate business valuation, and seeking professional financial guidance. 

Key Highlights:

  • Discover what attracts top buyers beyond your practice’s immediate success
  • Understand how your practice’s earnings and growth potential influence its market value
  • Find out how the cost of replacing your role can impact the sale of your practice
  • Identify hidden challenges in long-term commitments that could hinder selling your practice
  • Explore a range of exit strategies, from outright selling to forming partnerships
  • Learn about the trade-offs between a high selling price and maintaining control post-sale
  • Assess whether pursuing maximum profit aligns with your personal satisfaction and well-being
  • And much more!

 

Resources:

Connect with Marcia Miller: 

Connect with Rick Wedell: 

 

About Rick Wedell:
As the Chief Investment Officer for RFG Advisory Group, I am directly responsible for the direction and management of RFG’s investment strategies, setting the vision for our research capabilities, and managing a turn-key investment platform engineered to help our advisors and their clients with their most pressing investment needs. I previously spent over a decade at Bain Capital Credit, where I was the Head of the Consumer Group as well as an assistant Portfolio Manager for an $8bn CLO business.