Greg, a local pharmacy owner, had two problems: his sales and profitability had been steadily dropping AND he didn’t know who to trust to help him fix it. The result: ‘deer in the headlights’ inertia.
And it made me wonder.
How many of you pharmacy owners feel the same?
Click on the image below to watch this short video:
Greg is a smart guy, like most pharmacists, and he’s not used to making mistakes, so he’s quite risk averse too.
He needed to know the information he’d be using his most prized resources on- his time and money- would directly create a positive result in his business.
It’s not just about following the wrong advice. He could make a mistake that could be very costly for his business and his peace of mind and takes months to recover from.
There’s a secret to creating wealth and what makes some people genuinely successful owners of profitable, secure and growing businesses:
It’s Knowing What To Do At The Right Time.
So firstly Greg needed to get clear on what he wanted to achieve and by when. Creating a plan for growth would give him a sense of direction.
But this was difficult for him to do on his own. He was feeling pretty overwhelmed and not sure where to start. He needed fresh ideas and a new perspective.
Getting the right kind of help was critical and there’s a huge difference among coaches and mentors’ ability to support and guide you in creating an achievable plan.
He didn’t want a coach who’d done a crash course and been coaching people for a few years since then, regurgitating (or slightly re-positioning) the same tired old theories or cool books everyone recommends or, worse yet, someone who’d get him all excited about new ideas that were untried and unproven.
He wanted a coach who was a successful entrepreneur themselves who cherry picked the strategies they’d already proven were successful in this current economy and marketplace and then specialized in and understood the anomalies in community pharmacy.
And that’s why he wanted a specialist pharmacy business coach not a pharmacist turned coach or a generalist business coach.
You need to look for case studies and track records of success and experience across a number of spheres including but not only community pharmacy.
Within 6 months of working with PPS Greg’s revenue had increased by 20%, his gross profit was up by 32%, his staff were more motivated and engaged than ever before and, best of all, his net profit had grown by 87%.
It wasn’t all smooth sailing though. It took a bit of time and refining the strategies to create momentum and great results. There were bad habits and complacency to undo and there’s always room for further growth but Greg has a system now. He has a marketing strategy and a clear understanding of his numbers and what to do about them.
Having the right ongoing support also keeps him on track and responding quickly to changing circumstances so Greg is feeling pretty pleased and confident now, even in these tough times of price disclosure and competition, knowing he has the tools to continue to grow his success.
If you’d like to find out some of the strategies we used to create Greg’s success, then click on this link and download your free report NOW: “The 7 Strategies PROVEN To Increase Revenue In Your Pharmacy”