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Pharmacy Owners: What is Your System for Personal and Family Success?

Posted by Benjamin Coakley on Wed, Jan 21, 2015 @ 05:41 PM

A system is defined by Merriam-Webster as a set of connected things or parts forming a complex whole.Community Pharmacy Owners, pharmacy owners Everything that works very efficiently and effective is the result of a good system. The human body is a great example of this. Community pharmacy owners are no strangers to systems. They have systems to keep track of drugs, process payments for their patients, keeping employees happy and paid, along with hundreds of others that we don't have time to mention here. Then, why is it so difficult for them to have a system of personal and family success? This is the million dollar question.

We have discovered a few reasons why pharmacy owners do not have a system for personal and family success. The first is the lack to time and energy at the end of the day, week, month, quarter and year to focus on personal and family success. The second, and often overlooked, is the lack of coordination between personal and family advisors. The third is, pharmacy owners don't understand how a system can help them be more successful. This is not an all inclusive list, but they are the main reasons we hear for not having a personal and family success system. Let's look at each of these reasons in more detail.

The lack of time and energy left at the end of the day, week, month, quarter and year is probably the most common reason for pharmacy owners not having this type of system in place. We all know that being the owner of a community pharmacy is very demanding on one's time and energy, but carving out one to two hours per month to work on your personal and family life can make as much of a difference in every measure of your quality of life as spending those hours working in the pharmacy. This can be accomplished by having a system designed for success. For example, many owners tell us they are exhausted by the end of each work day, and this prevents them from thinking about these important things. When I asked a specific client what he could do about this, he said he could work on these things first thing in the morning before he became mentally, physically and emotionally fatigued. This is one simple solution to help you set up a system designed for success.

The lack of coordination between advisors is something we are seeing more and more these days. When we interview the trusted advisors for our clients, we ask them if they understand the client's vision and goals. We are shocked to discover the almost all of them do not have a clear picture of what these are. It is vital for long term personal and family success to clearly define and articulate your vision and goals to all your advisors. This can be completed in a once a year meeting with all your advisors. Another solution is to work with an advisor that coordinates your team of advisors for you. We call this your personal chief financial officer. Either way, you accomplish the objective of keeping your advisors informed of your everchanging vision and goals.

The last reason is owners don't understand the need for a system for success. We have a saying at Waypoint that goes something like "You either have a plan by default or a plan by design." Having a plan by default is having a plan. Unfortunately, owners that have their plans set up this way typically do not get the results they want. Having a plan and system for success by design can dramatically improve results in the attainment of your vision and goals for you and your family. The way to create a plan by design is to selectively allocate time, energy and money to address this issue (see reason number one above). We often aret old this is too much (remember you are still running a pharmacy) for one person to do by him or herself. That is why having the right team of advisors around you can be pivotal for success (see reason number 2).

In conclusion, owners can be successful in their personal and family endeavors (we see success stories all the time). This means you can be successful in these areas, all you need is the right system for success to make this happen.

Click Here to Start Creating Your Personal System for Success

Why do we do what we do?

Our mission is to help independent community pharmacy owners achieve all their goals and dreams, inside, outside and after their life in pharmacy. In doing so, we are helping independent community pharmacies remain independent and thrive for many years to come.

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

The first step of the process is completing The Inspired Goals Workshop. This complimentary and private 90-minute session enables us to deliver a free, detailed and personal Inspired Independence Blueprint. The blueprint provides a 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 or call 843.873.4420 and ask for Ben or Matt Coakley.

At Waypoint Pharmacist Advisors, we take care of you!

Topics: community pharmacy owner, community pharmacist, community pharmacist success