In the Age of the Drone, Are You a Dinosaur?

DECEMBER 18, 2018
In 2019, you can change your destiny, or you can maintain the status quo. You have a choice: become a drone or remain a dinosaur. Keeping up with changes in the marketplace, as well as your competition, is difficult, but not impossible.

When you follow a select group of protocols, you can make a huge difference in the year 2019. When you embrace certain systems, you can turn 2019 into the best year in history for your pharmacy. The following 4 make a huge difference.
 
  1. Start with a different business model, one that embraces customized scripts, as well as an assortment of higher quality herbal and homeopathic nutraceuticals. Here are the 4 elements of a prolific pharmacy business model—one that has created pharmacy millionaires.
  • Compounding—this is where you provide them with customized medication, which is far better than the one-size-fits-all traditional script
  • Nutraceuticals—choose high-quality ones that retail at sensible prices, ones that cannot be found at chain stores, Big Box stores, and probably any other independent in your community. Since no one vendor covers all the chronic diseases really well, then it is recommended that you shop many different vendors and cherry pick the best of the best. 
  • Fee for your services—for your expertise—can be automated based on your enhanced knowledge of chronic diseases and their solutions. Go outside your pharmacy for the training, which should be both auditory and visual, so you can be sure every team member learns.
  • Marketing of such a compelling nature that people come running to you with ad in hand.  They may also seek you out because of information they got online. Since you’re addressing higher income, they want to purchase your solutions to whatever chronic diseases they have, because you, and only you, have those solutions.
             This business model totally differentiates you!
  1. Build your A-team to support your vision and culture. Your sustainability rests on your quickly building your A-team. It’s basic and fundamental to achieving your vision. You cannot achieve your goals and dreams by yourself. You need team members who are truly outstanding. I call them superstars. They compromise your A-Team. No matter the number, you are dependent on each and every one. Each has a role to play in your success. Each one is vitally important to you. High performers will get more work done. As you doubtlessly have experienced, poor performers not only get less work done, they even get in the way of helping you and your team in achieving your goals.
  2. Put to work the best marketing on the planet for pharmacies. When you make your marketing superior, it describes how you and your pharmacy are different from your competitors. This new marketing helps drive more and more patients to your store to purchase your most profitable products and services. When you make your marketing superior, it describes how you and your pharmacy are different from your competitors, thus positioning you in the marketplace and building your brand.
    And please understand that if you don’t get them to read and understand this value-added proposition, then you will not get them into your pharmacy. When your marketing disrupts the marketplace, you change people’s buying habits. You give them reasons to drive by all your competitors, because they understand that you, and you alone, are the obvious expert in chronic diseases.
  3. Move like a drone to make these changes because otherwise, as you continue to embrace the status quo, you will become a dinosaur. You know what happened to dinosaurs.
    Yes, the world of business is changing at lightning speed. It’s not the changing technology that’s going to make a difference in your future. It’s the speed at which you embrace a different business model, together with your vision, as well as some better marketing. That’s what’s going to make a difference. And the speed at which you embrace it makes a big difference, too. 
The Pharmacy Sage can be reached at thepharmacysage@rxresultsnow.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.
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