Competition is Expensive, so Stop Competing

and Make More Money Part 1 - Strategy

Mike Pownall, DVM, MBAwww.slideshare.net/mpownall

Veterinary Business Promotion Today

KindCaring

CompassionateState of the Art

High qualityCheaper

Strategy• A description of how we can

identify what our clients value and how we can deliver it

• It takes our vision & mission and puts them into operational terms that can be analyzed and acted upon

Goal of Strategy

Compete with a sustainable advantage of differentiation over our competitors

Mission

Vision

StrategySustainabl

eSuccess

VisionGuiding Philosophy

Who and Why• Values• Essential & enduring even if a competitive disadvantage

• Core Purpose• Our reason for being

MissionWhere we want to go with a

mix of concrete reality with hopes and aspirations

Translation of vision from image to words

MPES Values1. Take Ownership – “Own It”

2. Evolve – “Push It”

3. Deliver Excellence – Elevate it

4. Collaborate – Share it

  

MPES PurposeGiving horse people peace

of mind about their horse’s health care through excellent

customer service and education

MPES MissionTo become a globally

recognized equine veterinary business

through leadership in patient, client and

employee care

Value Propositio

n

Goals

Core Activitie

s

Service Market Focus

Strategy

Goals• Dominate Markets

• Lowest Cost• High Growth

Product Market Focus

• Groceries and general merchandise

• Value oriented customer

Value PropositionAt Walmart, we serve

value-conscious customers that come

from all walks of life and all income levels.

Core Activities• Integrated logistics• Intensely managed

Value Propositio

n

Goals

Core Activitie

s

Strategy

ServiceMarket Focus

Environmental Review

Bargaining Power of Suppliers

Bargaining Power of Buyers

Threat of Potential Entrants

Threat of Potential Substitutes

Past Environment• Racehorse generated much of our profit to

drive growth.• Horse business was growing• Less price sensitivity since pricing

knowledge was less obvious• Focus on ‘A’ horses• Competition was older and less tech savvy• Less Internet influence

Future Environment• Declining racehorse industry• Horse industry contracting over time• Canada will have slower economic

growth in next 5-10 years• USA, Asia and eventually South

America will have robust economic growth• Competition should even out and

even decrease

Goals5% Growth?

Develop dentistryNew associate

Cut costs

Clients ValueProposition

A strong and direct value proposition for a well

defined customer segment is essential for business

success

Customers• How many segments?• What do they value?• What don’t they value?• Poor customer choices?• Missing services?

Sarah Busy, 35-55, Lawyer

Sporthorse Owner/Trainer Profile

Demographics• Married, one child• Hunter/Jumper focus but follows

dressage too• 2 horses• Boards; works with trainer• $175k income• Horses are a hobby but competitive

Challenges/Needs• Information overload for veterinary

care – what do I need to do for my horse, really?

• Finding time to spend with horse• Keeping up with the Jones’ – trends

constantly changing• Standing out in the show ring

Buying Behavior• Very active digitally• Uses mobile/tablet almost exclusively• Linked In and Facebook active• Relies on trainer and what

competitors are doing – what is winning

• Shares information with friends if happy AND more so, if unhappy

• Follows the circuit locally and in California

• Makes decisions quickly, wanting to know cost but cost is secondary.

Other Hobbies/Information Consumption• Likes to be on boat when not showing

or hanging with friends• Interested in the latest trends –

clothing, tack, styles, trainers• Regularly reads “The Horse” and

“Chronicle of the Horse”• Active in local and national HJ Assoc.• Follows “xxxx” blog and regularly

checks “xxxx” website• Daughter is active in horses and

following in Mom’s footsteps

How can we help?“I want someone who will work with me and more importantly, my trainer, to keep my horse healthy and in shape to win. I need someone who will be on time and efficient because I don’t have time to waste. I want what is best for my horse, always. He is my baby.”

Sarah is passionate about her horses, is competitive and always wants the best for her and for her horses. She doesn’t like to cut corners. She struggles to find as much time as she wants for her passion so wasted time is frustrating to her. Downtime for her horse is beyond hard and she depends on her trainer to give her the best advice and keep her horse sound, healthy and winning. She wants to be rewarded for her good work.

Why Profile• Content that will resonate• Smarter spending• Loyalty• Ambassadorship• Make strategic business and marketing decisions

Client Value

UPSTREAM DOWNSTREAM

VALUE

Client Value

UPSTREAM DOWNSTREAM

VALUE

Client Value

UPSTREAM DOWNSTREAM

VALUE

Service Market Focus

• Lameness• Preventative medical care• Dentistry• MRI• Emergency care• Horse show care

Value Proposition• Solves a need or a want• money, time, functionality, performance, education

• Reduces a pain point• Money, convenience

Value PropositionOne sentence to describe why a customer uses your business

VP Mistakes• Describing features rather then value• Imposing your own opinion• Not understanding what customer sees

and acknowledges• Providing value to a Customer Segment

that doesn’t exist• It’s “nice to have”• It’s just a feature of someone else’s

product

Value PropositionCourteous & personal equine

veterinary care, education and services for horse people who

value their horse’s health.

Supportive environment for referring vets

Core Activities• Software• Availability• Specializations• Customer Service• Staff training

Mission

Vision

StrategySustainabl

eSuccess

What do our Clients Value?

Keep In Touch

mpownall@oculusinsights.com

www.oculusinsights.net

www.slideshare.net/mpownall