Gerry Spitzner | Blog

Cannabis, what’s next for Pharmacy? | Do you have a coherent strategy?

Posted by in Business Planning, Operations, Pharmacy

Non-medical cannabis became legal in Canada as of October 17, 2018. Cannabis can be used for medical or non-medical purposes. People may choose to use cannabis for its therapeutic effects. But it can also harm your health.  I’ve heard both sides from practicing Pharmacists and Doctors. Both situations are true. Cannabis affects everyone differently. Before I continue, I should state my personal position on marijuana. I am fully supportive of the legalization of marijuana for recreational use and support regulation and taxation, treating it along the lines of alcohol or…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

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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

See through your patients’ eyes and look for “applied benefits”

Posted by in Customer experience, Leadership, Marketing, Pharmacy

A Pharmacist’s patient services are about applied health benefits, not just features. Patients always seek to fulfill some intention beyond just a pill. While pharmacists often focus on the effects of disease and medication, patients focus mainly on the outcomes. In other words, they are seeking the applied benefit of your patient service. Applied benefits are the outcomes patients expect beyond the prescribed medication. For example, take a newly diagnosed child with asthma. While the patient service you deliver may show how to optimize the use of the medication and…read more