Stories of Women Veterinary Owners: Lucy Tidd

In my first blog, I discussed why I believe women should purchase and own veterinary practices.  I talked about some of the myths that prevent people, especially women, from thinking ownership is possible.  The best things about that blog were that it opened new connections, helped renew old connections, and brought me stories.

You see, there ARE actually quite a few moms who own practices out there.  The stories of how they got there and what they have accomplished are fun and inspiring.

Lucy, a classmate of mine from Cornell, reached out to me after the blog.  She said, “I see many young vets who have all these mental (& I believe they are mostly mental and not grounded in reality) roadblocks that stop them from pursuing practice ownership.  Like you, I believe it is the best way to true financial and personal success, but so many think it can’t be done while still meeting family and personal goals.  Maybe I have just been incredibly lucky, but I think it is very possible and would love to figure out how to spread the word.”

Her note got me thinking.  The best way to show what is possible is to tell these stories.  In honor of International Women’s Day, here is Dr. Lucy Tidd’s story.

Lucy graduated with me from Cornell in 1995.  She married another classmate and the two of them started their career in Maryland.  He began in equine practice, and she started in small animal.  After looking at a fair number of practices, Lucy ended up at Germantown Veterinary Clinic https://www.germantownvet.com/ . 

Mark did equine practice for awhile but then switched to small animal and joined her at Germantown.  The owner of the hospital was ready to retire and almost sold the practice to a corporate consolidator.  However, a story from a colleague gave her cold feet and she backed out of the deal.  Although they were only 3 years out of veterinary school, Mark and Lucy realized the opportunity in front of them, and bought the practice.  Because a bank was only willing to finance part of the deal, they were lucky in that the previous owner was willing to finance the balance.  They had to put their house on the line as collateral but realized that the practice was in a good growing market and would be key to financial success.

The practice grew with their hard work.  Mark’s sister had management background in a different industry but was convinced to come help them run the practice.  They were successful enough that they were able to buy land and build a newer larger facility.

As with many of us, this career growth came just as Lucy was pregnant with her son.  Their new hospital opened 2 weeks after her son was born.  Her memories of that time are of doing lots of things with the baby in a Bjorn.  The balance of work and family involved Mark and Lucy working opposite schedules but often bringing their son along to meetings or while they checked on a case.

Mark and Lucy divorced when their son was small.  Lucy bought Mark’s share of the practice and is now the solo owner.  Mark now runs VitusVet.

Lucy’s son is now 15.  The practice grew from 3 associates at the beginning to 5.5 FTE veterinarians now and Lucy recently purchased a second practice.

The success from the clinic has allowed Lucy financial security, time with her son, and also time for Lucy’s other passion, horseback riding.

When I asked Lucy what she would most like others to know, she had a couple messages:

1) Just do it – you don’t realize what you are capable of until you try.  This is true as a business owner but also in medicine.  We get tremendous training as veterinarians. However, younger veterinarians often have less self confidence and may refer earlier than they need to.  While adrenal tumors really should be done by boarded surgeons in facilities with blood, does a stable splenectomy or simple gastrotomy need to be a referral procedure?

2) Most things in business are reversible.  You will make bad hires but you can let people go.  You may start with the wrong accountant but that doesn’t mean you can’t switch.  It is important to realize that you will make mistakes and just need to learn from them and move on.

3) “This too shall pass” – This mantra between Lucy and her practice manager helped them be resilient in lots of difficult situations.  Often you gain perspective if you ask yourself, will I care as much in 6 hours? What about 6 days? What about 6 months?  Many things that seem horrible at the time will just not matter months down the road.

4) Get help.  Lucy had no idea she would be a practice owner while in veterinary school and didn’t have financial or business knowledge before the practice purchase.  She has been greatly assisted by having a good manager and using other professionals (attorneys, accountants, consultants).

5) Get involved. Lucy has been active with Cornell since graduation and is now on the Dean’s Advisory Council. Having women in these roles is important in having our voices heard.

Do you have a story to tell? Share it in the comments with the lessons you have learned or contact me at bdavidow@vetidealist.com.