"The Successful Owner is The One Who Discovers New Solutions Before Big Pharma & The Insurance Companies Destroy it." -- The Pharmacy Sage
The future of your pharmacy rests on your vision.
It is paramount to what you will do and how successful you will become.
Essentially, your vision should evolve around the following 6 topics:
The elements of your vision should indicate a culture that you want to establish and a way of differentiating yourself. For instance, do you want to have products that are different from those in the chain stores or big box stores in your trading zone? If so, how? Are they higher quality? Do you have products that others do not sell, such as N-Acetyl Cystine?
Such should be the nature of your vision statement. And you should spell out, descriptively, all the details of each and every one of the six points.
No two pharmacies will be alike. No two pharmacies will have the exact same vision.
The above six points are purely guidelines.
What will yours look like?
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Christine Blank wrote a very challenging article. It revealed ever-so-many basics regarding why the independent pharmacy should be concerned about Amazon.
Nevertheless, if a pharmacy truly differentiates itself, it creates a niche that Amazon would have trouble invading.
What’s it all about? Informing and educating the patient.
The independent pharmacy owner should be the master of chronic diseases. It’s a field not sufficiently well covered in medical school. Neither is it currently being mastered by chain store pharmacies or big box stores. Admittedly, it’s not taught in pharmacy schools, either.
The independent needs to search out the information and study it by himself. And, when he does, he differentiates himself and creates that niche where he can own almost 100% of that marketplace. For instance, if the patient does not know the value of N-Acetyl Cysteine and how it can help her ward off most any viral infection by building glutathione, then that’s information that he should be dispensing. Indeed, it should be the foundation of his helping people to feel better, live longer, and become more energetic.
And that’s just one sample. What about PQQ and its ability not only to energize the mitochondria, but also to rebuild those mitochondria that are dying. PQQ can be a tremendous source of energy, especially for seniors.
And those are just two examples. When they are marketed properly, online and offline, they can draw dozens of new patients.
Also, when the pharmacy owner backs up that marketing with other marketing that goes directly to his patients, once they sign on, then he can further indoctrinate them regarding how his solutions to aches, pains, and other maladies can benefit each patient.
Yes, Amazon is another competitor to be reckoned with. However, the independent pharmacy can create his own niche, and he can own almost 100% of it. The result: they visit more often, get expert advice from their favorite pharmacist, and they spend more money.
It’s all about the independent’s learning how to dispense something new and different: information that is not available from the chains or big box stores. Neither is it available from doctors. Then, he can not only attract patients like flies, he can also build significant wealth in his pharmacy. He just needs to pivot.