Traditionally, Valentine’s Day has been reserved for couples. But this year, we want you to think of it differently. Your year-round valentine in the pharmacy is someone or something that loves you back. As an example, PBMs are probably NOT your valentines.Read More
The Pharmacy Ownership Guardian
Keeping New Year’s resolutions is difficult for everyone – especially when they revolve around your pharmacy and livelihood. The stakes are higher and the pressure to succeed is significantly greater than resolutions pertaining to yourself. So, why is it that setting and achieving goals for your pharmacy year after year is such a difficult task?Read More
Maintaining a hectic pace and managing to succeed in the face of constantly changing and increasingly challenging circumstances is “situation normal” for practically every independent pharmacy owner we work with.
Tags: community pharmacy owners, succession development, creative thinking, community pharmacist independence, community pharmacy employees, pharmacy key employee evaluator, community pharmacy exit strategies, family business
Transitioning into life after pharmacy can be a scary thing for most community pharmacy owners. Among the many reasons it frightens owners, the realization their role(s) will change as they begin the transition out of the pharmacy is perhaps the most daunting. Our clients often tell us they are worried about losing their identity and the respect of their employees, customers and other members of their community when they begin this process.
Succession planning should, theoretically at least, start from the moment you make the leap to become a community pharmacy owner. In the land of fairies and unicorns, this would happen every time. But, reality is much different and this usually never enters the minds of pharmacy owners until they are ready to get out.
It has been our experience that when owners want out of pharmacy, they want it sooner than later.