The Community Pharmacist Blog

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Community involvement: good for your town, your pharmacy and you!

Posted by Matt Coakley on Mon, Sep 30, 2013 @ 08:50 AM


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Among the many reasons we love taking care of independent community pharmacists is they represent all that is great in small town America. Few, if any other community members are as entrepreneurial, work as hard, or are more dedicated to the community than owners of a hometown pharmacy.

While it may seem I am preaching to the choir, our very best clients have found getting more involved in the community where they do business – and on many cases – where they live, is a great way to meet more people and, indirectly, increase their customer base.

Research backs this up. For example, a 2010 study sponsored by the Center for Ethical Business Cultures (CEBC), states, “…the consequences of business social performance will be experienced on a personal level by the owner and the personal philanthropy and community leadership provided by the owner may result in customer gain or loss, enhanced or decreased opportunities for cooperative ventures with other businesses, or better or worse rates of financing for his/her business.”  (Terry L. Besser, Ph.D. and Susan K. Jarnagin, Ph.D.: Corporate Social Responsibility: Small Businesses and Small Towns)

Elsewhere in their report, the authors are explicit about the relationship between community involvement and business success, “business social performance and financial performance are positively related to each other in a virtuous cycle such that more successful businesses are more socially responsible which in turn is associated with higher levels of financial success at a later time period.”

I love the idea of a virtuous circle playing itself out over and over again in every small town in our country.  Quoting once more from the CEBC study, the bigger picture impact of community involvement also has considerable personal rewards for independent community pharmacists.

“The potential personal benefits… include psychological rewards, a sense of accomplishment in being able to make a difference in the community’s future, the pleasure gained from socializing and interacting with others involved in community betterment projects, personal growth and development, and the ability to improve the quality of life for one’s family and friends.”

Our offices are located in relatively small towns and each person on our team spends considerable time and energy volunteering for one or more organizations he/she believes is doing great work.

Personally, I volunteer in the community because I love my hometown. I have lived here my entire life and really feel the town has given me more than I can ever repay through community service. While I would volunteer regardless of the impact on my business, I also believe people like to do business with high character people. When my family and I are seen contributing to these causes, it naturally enhances the size and quality of our business contact list.

Again, at the risk of telling you something you already know, it is really easy to get started. Organizations such as Rotary, the Exchange Club and Kiwanis allow the opportunity to work with others towards a common goal. Also, many nonprofit organizations are always looking for volunteers and board members to aid their causes.

One last thought: because your time and energy is precious, one of the best things you can do is find an organization or cause that aligns with your beliefs and passion. Then, just call them up and ask them how you can help.

 

Foot Note: On a practical level, it may be extremely difficult for an independent community pharmacist to spare the time and energy it takes to get involved in their community... especially when they are just starting their business. That said, we have found that if you have a clear picture of where you are and where you are heading - along with a clear understanding of what is most improtant to you - your life in pharmacy will be enhanced. To help you gain greater clarity about where you are today and where you are heading tomorrow, we have created The Community Pharmacist Lifecycle. Download yours today.

Where Are You in The  Community Pharmacist Lifecycle?

Where does this wisdom come from?

The content of this blog is inspired and verified by our experience helping independent community pharmacists enjoy financial independence during and after their life in pharmacy.

When a pharmacist reaches out to us for information and help, we endeavor to give them as much free value as is possible. In addition to providing educational, self-assessment and strategic planning tools (like The Community Pharmacist Lifecycle), we invite qualified pharmacists into our formal discovery process.

The first step of the process is completing The Inspired Goals Workshop. This 90-minute session enables us to deliver a detailed and personal Inspired Independence Blueprint. The blueprint provides a personalized roadmap for achieving your goals and enables you to fully understand the value of joining The Inspired Independence Program.

If you wish to learn more about any aspect of our work, the free value we offer, or to be considered for The Inspired Goals Workshop, visit our web site at www.waypointus.com or call 843.873.4420 and ask for Ben or Matt Coakley.

At Waypoint Pharmacy Advisors, we take care of you!

 

Topics: community pharmacy owner, community pharmacist, community pharmacy benefits, Community Pharmacist Lifecycle, business, vision, profitability, pharmacy value, family business owner, family business, behavioral economics