"The Successful Man is the One Who Finds Out What Is the Matter with His Business Before His Competitors Do." Roy L. Smith
Last week, we discussed 18 mindsets to put you on the path to success. Let’s take a look at the first one: “Always challenge the status quo.”
To do this, becoming an entrepreneurial genius is not necessary; however, developing some common street smarts is.
The pharmacy industry has its sacred cows and accepted practices, often based on premises that are no longer valid. That is, if you want to make a good living at it.
Innovation is discovery and creating disruption of conventional thinking and unleashing entrepreneurial savvy. That’s how Facebook was birthed in a dorm room, Amazon.com came from people not in the bookstore business, and Uber was created from people not in the taxi industry.
Just as successful pharmacy owners know that maintaining the status quo does not help them grow. Everything around you is constantly changing. You have to change along with them. Otherwise, you become a dinosaur.
Nothing differentiates you and it’s hurting your business and pommeling your bottom line. You’re paying too much to maintain the status quo.
Learn to recognize the constant urgency for change. Continuously ask yourself:
“Who is my customer?”
Know your customer. Knowing their wants and needs are crucial to your success and can definitely give you a competitive edge. It shapes your marketing and reveals the strategies you need to be adopting. For example, let’s say you live in a community where the median age is 32, with less than 10% of the population being 65 or older, and your marketing screams you cater to the elderly: Senior Day Wednesday, you accept Medicare, etc. Every pharmacy does it. Your marketing efforts are falling on deaf ears. Change your strategy, change your outcome.
Your marketing should be bringing more people through your doors… to visit more often… and spend more money.
If your efforts in marketing, leadership or entrepreneurship is not providing you with immediate and measurable results, get help from the outside. Change needs to happen now. The status quo is simply not enough.
What challenges are you now experiencing because of remaining complacent with the status quo? What are you doing to drive the change you need? Or what have you done to overcome those challenges?
Not sure where to start or exactly what you need to do? Contact us below to schedule a free consultation, with me, to explore your options. Also, be sure to visit our new FREE Resources page.