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3 Back-to-School Tools for Pharmacy Owner Success

Posted by Benjamin Coakley on Wed, Aug 09, 2017 @ 08:55 AM

Driving your pharmacy’s success is like driving a school bus on a busy back-to-school day.

Knowing where you are going, taking the best route to arrive on time, and picking up the right people along the way, pretty much sums up what it means to be a successful school bus driver and – more importantly – a successful pharmacy owner.

Unlike most students during the summer, pharmacy owners never stop learning. Frankly, you can't afford to and neither can we! With the last of the summer tradeshows behind us, back-to-school time is ideal for sharing three key things we learned from the many conversations we had with pharmacy owners all around the country… people just like you!

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Many of you told us how excited you are about how your year is going and where you are headed. You’ve got a green light to look for new ways to grow your business.

Finding ways to utilize all of the things you’ve learned (whether from a tradeshow, continuing education class, or other sources) in your pharmacy is key. Put what you’ve learned to work by implementing a new service, purchasing a second location, finding new ways to save money or increase profits, and above all; taking care of your financial success.

As you accelerate to the next waypoint on your route to success, ask us about your investment policy statement. Just like driving a school bus, your investment policy statement defines the rules of the road you will follow to safely and efficiently arrive at your destination. With your investment policy statement in hand, you can then develop the best investment strategy – the route you will take – for achieving your personal financial goals.

Request your Investment Policy Statement

Go Slow for Yellow

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Some of you told us about how frustrated you were about how industry trends and increasingly complex regulations are hurting your business. For you, there’s a yellow light ahead and you need to proceed with caution.

Take a beat to look both ways: remember why you are in this business and where you hope to be when it is time for your life after pharmacy. Look at what motivates you to get on the bus and deal with the noise, traffic, and potholes along the way. Reconnect with what keeps you engaged, excited, and committed to your success as an owner.

As you proceed through all of the tough intersections ahead, remember what got you interested in pharmacy in the first place and reconnect with your passion. What does personal success mean to you?

If you’re staring at a yellow light and unsure if you should hit the gas or the brakes, we recommend our Independence Goals Workshop. It’s free, private and helps you get crystal clear about how to safely, efficiently and effectively achieve your goals and realize your vision.

I want to schedule my FREE   Inspired Independence Workshop

You’re not dead; the light’s just red!

Unfortunately, a few of you told us you didn’t know how you were going to reach your goals for 2017, let alone any goals beyond that. For you, the traffic light is red and the only safe thing to do is hit the brakes.

Even though we hate to tell anyone to stop, the great news is, the light will soon turn green.

But, while you’re stopped, you have a great opportunity to take a look around at who is on the bus with you. If you’re struggling to reach this year’s goals, and even more uncertain about your future goals, perhaps it’s because you are not getting the help you need from the people who work for you and with you.

Achieving ownership success is not something you can do on your own. You need a team of people around you who clearly understand your vision for the future and the role you need them to play in achieving it. Benchmarking and ongoing critical assessment of performance is part of a successful owner’s responsibility.

To help you do this with your team of employees, we’ve created a tool we call the Key Employee Evaluator.

Request our Key Employee Evaluator Tool


We take care of you

No matter what color your traffic light may be right now, there is always plenty of ways to find new opportunities and make the most of the success you’ve already achieved. That’s why we help you think different… think YOU!

As you travel the road ahead, remember that your Waypoint Pharmacist Advisor is here to help you navigate the best and safest possible route to Inspired Independence during and after your life in pharmacy.

Contact us today!

Topics: community pharmacist, community pharmacist independence, pharmacy key employee evaluator, investment policy statement, inspired goals