Gerry Spitzner | Blog

Get with the Pharmacy business program

Posted by in Business Planning, Customer experience, Marketing, Operations, Pharmacy, Retail, Small Business

The old saying “nothing remains constant except change itself” must have been written by someone well-versed in the day-to-day operations of retail pharmacy.   We must adapt and grow with every change we encounter. For me the pace of change is staggering. The nature of this business is changing so quickly that you need to be nimble and flexible. Focusing on the business of your practice is crucial to your professional and personal success. Today, the change before us is that the healthcare industry is evolving and so too are…read more

3 tips to help introduce a new patient service

Posted by in Business Planning, Customer experience, Marketing, Operations, Pharmacy, Retail, Small Business, Social media

For many pharmacists, the process of launching a new patient service begins with the lightbulb moment when they conceive of a breakthrough idea. Very often, they are so passionate about the idea that they believe its merits will be self-evident to prospective customers and patients—that the innovation is so obviously superior it will sell itself.   On the other hand, entrepreneurial thinking pharmacists who avoid that delusion may think of their initial sales as a chicken-and-egg problem…they realize that getting buy-in from potential customers is a top priority, but until…read more

Why Pharmacists need to learn to always begin at the end

Posted by in Business Planning, Customer experience, Leadership, Marketing, Operations, Pharmacy, Retail, Small Business

For many Pharmacists, the process of launching a new patient service begins with the lightbulb moment when they conceive of a breakthrough idea.   Very often, they are so passionate about the idea that they believe its merits will be self-evident to prospective customers and patients—that the innovation is so obviously superior it will sell itself. On the other hand, entrepreneurial thinking Pharmacists who avoid that delusion may think of their initial sales as a chicken-and-egg problem…they realize that getting buy-in from potential customers is a top priority, but until they…read more

You gotta know your numbers

Posted by in Business Planning, Operations, Pharmacy, Retail, Small Business

There are two chronic afflictions that can “kill” your retail Pharmacy business…too much inventory and high overhead. If they get out of control; either one of them will ruin your business. Today, you have no excuse for letting overhead or inventory get out of control. What will you do, on a regular basis, to make sure they don’t? The good news is that with today’s affordable computerized business systems, you can rid yourself of these two ailments. However, simply implementing the systems is not enough. You must take the time…read more

Purpose: The not so secret superpower fueling progress

Posted by in Business Planning, Leadership, Pharmacy, Retail, Small Business

What is the real purpose of your Pharmacy business? By purpose I don’t mean making money; that’s just a result of a well-run retail Pharmacy business. The real purpose of a business is to create, engage and keep a customer. As Peter Drucker, the management guru; once so brilliantly observed, the purpose of a business is not to make a sale but rather to create a customer. Any business that successfully creates and keeps a customer in a cost-effective way; will make a profit. If for any reason, a business…read more

Create a value proposition for your Pharmacy that people really care about

Posted by in Business Planning, Customer experience, Marketing, Pharmacy, Retail, Small Business

Getting your value proposition right is critical to your Pharmacy’s business model.  You can have the best features, the most perfectly executed daily business operations, the right price etc.; but no one will ever know of it if they don’t get past your high-level value proposition. Warren Buffet’s famous quote from his 2008 Letter to Berkshire Hathaway Shareholders helps to explain. ‘Price is what you pay; value is what you get.’ Your value proposition is the crunch point at the intersection between business strategy and brand strategy. It’s a promise of value to…read more

5 key operations tech trends for retail pharmacy

Posted by in Business Planning, Customer experience, Marketing, Pharmacy, Retail, Small Business

Innovations and trends that are changing the retail Pharmacy landscape While many Pharmacists only encounter or look for trends once a year, it’s clear that trends don’t begin or end at the stroke of midnight on New Year’s Eve.  Advanced technologies are driving the disruptive innovations that will bring significant and permanent change to Canada’s business landscape. Watch out. Speed matters; the world is not only moving fast, it is accelerating. Disruption is not going to happen in some distant future. It is happening now. With one in three Canadian…read more