"The Successful Man is the One Who Finds Out What Is the Matter with His Business Before His Competitors Do." Roy L. Smith
In most pharmacies, leadership is concerned with what needs to be done rather than how or why. However, for true success to happen in this challenging marketplace, especially in view of the declining payments by insurance companies, the following is important. There are three aspects of success for you as an owner:
All three effect the outcome. Only one seems to receive immense attention in virtually every independent pharmacy, and that is what. What it is you do, that is, what products you offer, what services you deliver, what solutions you can bring forth. That is basic and fundamental to your business. However, how?
The culture of your pharmacy and your organization is in its “how”— how it makes decisions, how it views customers, how it thinks and feels, how it treats people. In most organizations, what is an urgent priority, how is usually taken for granted, and why is almost totally ignored.
In the rest of this presentation, I would like to explain why how matters far more than what and why. It has much bigger impact on strategies, innovation, and performance. And why matters even more.
Culture is the Basis of Your Success
Culture needs to be emphasized. Above and beyond anything else, it needs to be first explained, then shared— with everyone, from team members to patients.
Why you’re doing what you’re doing, what its all about— even why you want to have your own pharmacy— become imperative, and definitely need to be shared with everyone and acknowledged by them.
Your culture is all about your reputation. It is also why you are in business as a different kind of pharmacy.
Why matters more than what. It’s a story that needs to be told, and if you do not tell it, you’re missing a huge opportunity to gain a strategic advantage— an advantage not only over the chain stores, which is quite apparent, but also over any other independent in your trading zone.
In independent pharmacies, culture may explain more and be more paramount than in almost any other place of business. It explains why you do what you do, why it is important, and how you can affect the health of ever-so-many people living in your neighborhood that others cannot. And obviously, and individuals health is one of the most important things in their lives. Your culture will explain how you respond to markets. For instance:
These figures include sales in chain stores, big box stores, independents, and via the mail.
When culture is not in tune with the times, it needs to shift. Without attention to culture, you leave to chance a critical component for your success.
A viable question could very well be “what problems has my current culture caused with business success, and what shifts do I need to make in that culture to increase the chances of my success?”
Are you ready to explain your culture and use it as a competitive tool?
If the answer is “yes,” then sign up for my TRIGGERS program here.
How to Create Your Ideal Culture
How do you create this culture? By telling stories— stories about:
That’s the short version of what your culture is all about. Its all about you, your reputation, and your destiny. You can’t borrow it from somebody else. It has to be real. Yours, and no one else’s.
Yes, it may be about destiny, but right now I hope you’re including excellence as the core guiding principle.
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