Click on the link above for the newsletter article on the benefits of a Facebook business page.
Click on the link above for the newsletter article on the benefits of a Facebook business page.
Often, professional horsemen strive to never miss an opportunity to make a sale. Boarding, English & Western lessons, training, horse shows, camp, pony rides, trucking, horse sales, horse leasing, horse motel, clinics, trail horse rentals, braiding, clipping, hay sales, trimming and shoeing, tack sales and more are all sources of income. But, ask yourself which sources of income are my profit centers? Being busy doesn't guarantee being profitable. It only guarantees being tired.
An objective veterinary prepurchase exam and evaluation performed prior to money changing hands in a horse sale is an obvious choice for buyers.
And while a prepurchase exam may be a "deal killer" for sellers, it limits future accusations of misrepresentation of the health status of the horse. Like it or not as a seller, the sale of a higher value horse will most likely be contingent on an acceptable evaluation.
Joel B. Turner, an experienced attorney in equine law, wrote the following article about prepurchase exams based on years of experience. Turner, with an office in Louisville, KY, has practiced equine law all over the United States and is a deep well of knowledge.
I met him recently in Lexington, KY at a Kentucky Horse Council event. He's an experienced hands-on horseman, too, and I believe you'll get great benefit from his guest article.
You Won't Need A Lawyer Later When You Follow These Ten Recommendations for Prepurchase Veterinary Exams
Guest article by Joel B. Turner, Attorney
One of the most common calls from potential new clients (i.e. the variety that is extremely unhappy and ready to litigate) involves the post purchase discovery of a serious soundness issue. Recently during one such call I rudely interrupted the caller to interject, "Excuse me, but let me guess which joint is causing your horse an issue?" My guess was correct and the caller was dumbfounded. While it was the first for her, the same sorts of issues crop up time after time in my world. 1
Usually people do not call me to tell me how happy they are with their newly purchased horses.
How do you protect yourself in a situation like this? a) Have a veterinarian, your veterinarian, perform a thorough prepurchase examination and b) have an experienced lawyer prepare a contract to close the loopholes by obtaining proper warranties/representations from the seller. The combination of these two steps should provide adequate protection from the possible deceptions that so often turn an excited purchaser of a new horse into a disgruntled, if not disillusioned, victim and caretaker of an unsound horse.
Top Ten Prepurchase Exam considerations:
1) Is the vet performing the exam absolutely free from any conflict of interest or possible undue influence? Make sure the vet (and no vet that is a member or employee of his/her group or practice) has never performed any services for the Seller. Do not, under any circumstances, ask the Seller to refer you to a vet.
2) Is the veterinarian performing the pre purchase exam willing to promptly (within 24 hours) provide a written report of his findings and make all radiographs and scans available digitally for the potential purchaser to use to obtain a second opinion, if necessary?
3) Is the veterinarian willing to review all the vet records obtained from the seller and watch the horse being ridden (preferably by the potential purchaser) as part of the prepurchase evaluation for soundness/coordination-neurological issues?
4) Does the vet know how much money you intend to pay for and the purpose for which you are purchasing the horse? Share the purchase price with the vet and ask the vet to assume you are buying the resale that is if you want the highest level of scrutiny and are willing to pay for it.
5) Is the seller willing to provide all veterinary records (including all medications dispensed, radiographs, ultrasounds or nuclear scintigraphy, i.e. "bone scans" performed) for the last eighteen months to two years as well as any other "therapy" records such as acupuncture, massage, shock wave, hyperbaric chamber etc. for review by you and your vet prior to the purchase decision?
6) Is the seller prepared to represent that, at the time of the prepurchase exam, the horse is not under the influence of any medication, is not being treated with any substance to address any past or present physical condition experienced by the horse and is willing to allow the veterinarian to take a blood sample for drug testing to verify the accuracy of this representation?
7) Has the horse been examined by a vet in connection with a potential purchase within the last year?
8) Is the seller willing to represent that the horse has not had any surgery or any intra articular injections of any substance (including without limitation, corticosteroids, blocking agents or hyaluronic acid) during its ownership, other than those disclosed by the seller, or if such surgeries or "joint' injections have been performed upon the horse and are disclosed, is the seller wiling to identify all of the dates when such procedures were performed and what substances were injected into which joints?
9) Is the veterinarian willing (and capable) to effectively communicate to the potential buyer the significance of the findings and provide an opinion as to the functional effect of these findings in writing promptly after the examination is completed?
10) Is the veterinarian sufficiently experienced with the particular type of riding that the potential purchaser intends to do and the kind of work that the horse has been doing, to provide the potential purchaser with a high level of confidence that the vet understands the amount and level of work the horse will have to perform to fulfill the buyer's intended use?
This list is not exhaustive and does not address such issues as prepurchase considerations for future breeding soundness of the horse. It is focused upon the veterinarian's performance of the prepurchase exam for a performance horse, and the Seller's willingness to make reasonable disclosures of the horse's condition.
This list has a particularly narrow focus on determining if there are any pre-existing issues that could lead to unsoundness making the horse incapable in the future of performing the tasks for which it is being purchased.
In this era when aggressive veterinary intervention with lameness issues, (particularly with the prevalent use of intra articular injections of corticosteroids,) is far more common, latent defects in horses may be hidden even from the experienced examining vet, if proper due diligence is not performed in conjunction with the prepurchase exam. The combination of a) the seller's reasonable disclosures in response to the purchaser's requests coupled with, b) representations and warranties in a written purchase agreement and c) a thorough prepurchase veterinary exam performed by an unbiased, qualified vet working exclusively for the potential purchaser, may afford the best opportunity to avoid the heartbreak and financial loss caused by a post purchase discovery of a latent, undisclosed and undetected condition suffered by a horse after the sale is final.
Copyright Joel B. Turner 2011 ©
1.The author is an attorney practicing equine related law for the last 27 years. For more background information, click here.
Portland, Oregon May 13 and May 14, 2011
How To Run A Profitable Horse Business Workshop
5 Business Strategies You Can Use Today
To Put More Money In Your Pocket !
Risk Never Follows Repetition
You may believe if you repeat yourself you're failing at communication, you're boring to others or you're symptomatic of premature aging and memory loss. That may be why you temper statements with an apologetic, "At the risk of repeating myself"
There is no risk in repeating yourself. Successful radio advertisers know a commercial has to be heard at least seven times before listeners begin to pay attention. While you're not quite background noise on a radio, our distracted society has adapted to filter out most of the 5000 messages offered daily. Your repetition will probably go unnoticed, even if your listener claims to have heard you twice the first time.
When you have to say repeatedly things like:
Remind yourself it's part of the learning process.
Through repetition, you're reinforcing good habits in your clients, boarders and employees.
At times, it's a huge chore to be tactful with your redundant statements. And it's a challenge to suppress your overwhelming desire to sound like your parent and let loose the question, "How many times do I have to tell you...?"
But you don't ask because you already know the answer.
"As many times as it takes."
I grab a special handle on the sliding barn door every day to open it. It's not fancy; it's built for function, much like a horse shoe.
The manufacturer of that handle put his heart and soul into all of the iron he produced as a blacksmith and a farrier. My door handle is proudly stamped with "Vern H." to let the world know he made it.
He's passed on and I often think about him and his work with horses and their owners when I see the stamp.
Your pride in your work will leave a legacy that will endure far longer than any of your material goods you value so highly today.
Think about it, when you leave this world, your money will be distributed to your heirs who will use it and mix it back into the economic river where you found it. It's likely your clothes will be donated to strangers and after personal keepsakes are distributed, the remainder of your effects will end up in a garage sale or landfill.
What's left for your legacy are your own little stamps you make along your way in life.
You know, like the time you gave a kid a job who desperately needed the money and some solid advice in a troubled time.
Or the time you gave a talk to a group of 4-H 'ers where one kid remembers your words about good horsemanship for the rest of his life.
And when the riding camp student from twenty five years ago brings her daughter to camp and says please give her the confidence you gave me when I needed it so much.
Your words and actions are the stamps that truly make your legacy.
Leave your mark with pride.
Now get your boots on and go to work doing the things that matter most.
|Profitable Horseman Newsletter||
December 23, 2010
I bought a book twenty five years ago for my business library that has been an exceptional investment.
The books pages are dog eared from use over time and filled with pencil and ink notes. I paid $8.95 for it; its value to me now is at least ten thousand times that.
Each chapter is filled with sound business advice on how to improve your business and your personal lives.
Chapter 9 has been particularly helpful for me and I'm sure its contents could be the boost your business needs.
It's all about the value of being a member of a MasterMind group.
Don't be alarmed. A mastermind group is not a collection of white coated evil scientists plotting to take over the world. It's a group of forward thinking individuals who agree several minds working on a problem or goal is far better than just their own.
The author describes a mastermind as "a coordination of knowledge and effort, in a spirit of harmony, between two or more people for the attainment of a definite purpose"
More simply stated, a mastermind group is a collection of like-minded individuals interested in improving their businesses and themselves by meeting on a regular schedule and capitalizing on the collective thinking of the group.
I've been in a mastermind group for over five years. The benefits I've recognized:
Distance prevents our group from meeting face to face on a regular basis, but an easy conference call at a scheduled time solves the geography problem.
Your mastermind group could be two to eight people. More than eight in a group can be troublesome to manage. You might seek help from your group for the following subjects:
If you're aim is to do great things with your business in 2011, start working on joining or forming a mastermind group now.
Oh, I almost forgot, the book I mentioned is "Think and Grow Rich" by Napoleon Hill. It was first published in 1937. It is the grand daddy of most business books published since.
If you don't own it, get it. You won't be disappointed.
Have you ever noticed most successful people are fast decision makers?
How did they get that way?
They didn't learn it in their formal education years when most teachers cautioned them to think before they speak, recheck their math test answers and proofread their essays.
They didn't learn it from life guidance offered by analog wired Grandpa short circuiting in a lightning fast digital age.
And they didn't learn it from advice volunteered by their conservative friends with traditional jobs and linear careers.
They learned it from their internal voice of experience. A voice from within that speaks more confidently with each passing year. Often a whisper, it speaks for your internal processor to make split second decisions with amazing accuracy.
Without consciously thinking through and analyzing stored facts and experiences, your gut knows precisely what you should do.
But conventional wisdom, the obstructionist, begs for more facts, proof and guarantees, just to be on the safe side and you delay your decision. Often the delay results in no decision or missed opportunities.
And squelching a deserved "I told you so", your gut listens yet again to your over-thinking brain rationalize another failed decision as "better safe than sorry."
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