How to Make More Money in Pharmacy with Less Effort

SEPTEMBER 22, 2015
Several articles in the July 2015 issue of Success Magazine seem to make the case for working hard to be successful in business.

Two authors talk about how business owners “grind it out” to become more successful. One even goes so far as to say that “they just out-grind” everyone else.

I totally disagree with this, as does Dr. Thomas J. Stanley, PhD. In fact, 2 of Dr. Stanley’s in-depth and well-researched books, The Millionaire Next Door and The Millionaire Mind, both disclose that successful business owners “never do another man’s job.”

Entrepreneurs do work hard when they are at work, but they concentrate on “their work,” not performing any or everyone else’s work. They also find plenty of time for recreation, at which point they also know how to “play hard.”

Richard Koch’s landmark publication, The 80/20 Principle, clearly proves that if you engage in 80/20 thinking, then you will discover that the harder you work, the less productive you become.

He steadfastly maintains this one particular concept in almost every section of the book. Because of this, it is one of my top 10 reading recommendations.

Focusing on getting your organization to produce like a well-oiled machine is basic and fundamental to you working fewer hours, feeling less stressed, and taking more vacations with your family. The key is to delegate and make absolutely certain that you precede delegation with proper and adequate training.

Training each person on whatever task you wish to delegate is utterly imperative. After that, delegation should be performed correctly in the minimal amount of time.

This way, you can delegate one task after another, especially to someone you pick as your chief assistant or second-in-command—otherwise known as your operations manager. This will free you up to do more important work such as expanding your business and making it infinitely more profitable. In the process, you’ll reduce your workload and the daily pressures you endure.

As a result, you will make more money and work fewer hours, thus reducing your stress level.

The Pharmacy Sage can be reached at (518) 346-7021 or Lester@ThePharmacySage.com

Lester Nathan, MS
Lester Nathan, MS
A powerhouse in the world of independent pharmacy, Lester offers free business resources for Pharmacy Owners on his website, ThePharmacySage.com. Offering insight, wisdom, and strategy, Lester is an esteemed voice in pharmacy business. Lester helps his clients increase patients and profits in spite of the 3rd party payment fiasco.
SHARE THIS
0