A is for Accounting, B is for Business…P is for Dr. Paolo Lencioni.

Meet Dr. Paolo Lencioni. After graduating veterinary school in South Africa, Dr. Lencioni worked as a veterinary surgeon in the UK before opening his own clinic. Whilst working as a vet, he was able to obtain a Diploma in Computer Applications Programming and a Masters in Professional Accounting. Since then he has worked as an accounting software consultant, founded ‘VillageBee’ which produced BeeFree, a veterinary practice management system, and created ‘SmartVetApp’. To add to the list, Dr. Lencioni is a partner at APL Accountants, an accounting firm that exclusively deals with veterinarians, and a proud Member of the Association of Taxation and Management Accountants.

Dr. Lencioni certainly proves that one path can lead us to many different places. Read on to learn some tips and tricks for a successful career.

Wow. You have done a lot in your time. What prompted the switch from being a Veterinarian to Accounting?

I needed to know more about business processes, this was not taught properly at vet school!

What are 3 top things to consider when buying a practice?
1. Position / location
2. Active client base
3. Profitability

Where do practices loose most of the money?

Improper team / staff management and expectation setting.

Tell us more about the SmartVetApp and Profit Diagnostix.

It is an automated and efficient system to help you manage your team, your business and to perform health checks on your business performance. It automatically benchmarks your business processes against national averages and top performers.

What have you learned from experience that you didn’t learn from a textbook? What practical advice would you offer fellow vets?

You can’t learn anything without experiencing it, but first you must know, read, listen, and hear about it. So it’s a process – learn first, then be brave and implement / experience / apply your knowledge.

How can practice owners learn more about running a business? 

Subscribe to some online courses, they don’t have to be business degrees, there is so much out there online. Buy some books about the subject and read them. Apply the things you learn, try them out and accept that a lot of what you do will fail.

How would you advise new graduates be more financially successful in their career?

Be open minded about the fact that to succeed financially, eventually you are going to have to become comfortable with learning about business AND promoting services to pet owners.

Who is the most influential person in your life?

My wife, Anne. She is highly motivated, efficient and does 10 times more than I do without even breaking a sweat and with a smile on her face.

If you could meet anyone in the world, who would it be and why?

Sir Richard Branson. He is one of the few true entrepreneurs. He is ethical, amicable and interesting.

What is your favourite quote or saying?

I can make another dollar but I can’t make another minute. Time is the most valuable asset.

Thank you Dr. P Paolo Lencioni

Contact information:
paolo@aplaccountants.com.au
tel: 07 34880131
Website: www.aplaccountants.com.au, www.profitdiagnostix.com