There are three major goals you can set to grow your pharmacy: Attract more customers, Encourage customers to shop more often, and Increase your...
Find Success in Your Pharmacy by Embracing Change
The pharmacy industry has seen rapid change over the past several years. One must adapt to stay afloat. Here are our best tips for doing just that.
No matter which business vertical you’re in, there’s one thing everyone has in common. Adapting to change is critical. In the pharmacy world specifically, we’ve seen dramatic change over the last 40 years. Even in the last 5 years. Or 1 year. We can adapt or fail. Change our businesses or watch them lose relevance.
For answers on the best way to adapt successfully, we turned to an unlikely source. Colin Cowherd is one of the most thought-provoking sports hosts in the country and currently hosts “The Herd with Colin Cowherd on FS1 and the FOX Sports Radio Network. He’s also a bestselling author and founder of “The Volume”, a podcast channel dedicated to sports podcasts.
We highly recommend taking a listen to the full interview with Colin, but if you’re short on time, here are some of our top takeaways on finding your path to success.
Maintaining relevance often comes down to this simple sounding action. People are creatures of habit and our actions are simple and repetitive much of the time. What really defines our success is how we react to things. From a moody boss, or upset customer, to a moment of poor judgment. How do you respond to a nonlinear, imperfect world? When something unexpected or new presents itself, it’s important to respond appropriately. In many instances, this means a shift in our habits, or the way we’ve always operated.
Be willing to do things that may seem off the wall.
Most things that are normal to us now were once concepts that seemed a little out there. Like getting most of your content through streaming services, or the rise of eCommerce. Staying relevant often means getting ahead of the curve. If you think something could be valuable to your customers or your business, don’t wait until it’s trending to hop on board. Trust your brand, and your core business mission to help new initiatives find success.
Double down on the things that work. (Create stickiness by offering more.)
Trust what works and make it work harder for you. Keep in mind new things work all the time, so it’s not always the same old stuff day in and day out. And you should try to have as many things working for your pharmacy business as possible. If you give people more, they’ll consume it. The more reasons you can give people to come through the door for more than just a prescription, the better. The more compelling reasons you can offer, the more stickiness you’ll create for customers.
Lose the things that don’t work.
Loyalty is for your family and your children. For a best friend. Not for a product. If it’s not working, don’t use it. If something’s not selling, get rid of it. This even applies to employees who might not be the right fit for your business. Remember that a bad hire (they happen to everyone) can cause immense damage.
Hone your coping skills and emotional discipline.
The reason that everyone doesn’t adapt is because it’s not easy. It takes discipline to recognize the need for change and to try new things that might seem risky or might fail altogether. Don’t be afraid to take cues from those around you. Like a fellow pharmacy owner, manager, or co-worker. Or a business partner, influencer, or podcaster.
Adapt and change, don’t complain.
We’re all playing economic survival in a world that is incredibly fluid now. Pharmacies have it harder than most. Complaining is easy, and might help to alleviate the stress momentarily, but it doesn’t solve anything. Adapting, trying new things, and impactful changes can make all the difference for your pharmacy business.
Ready to take the leap? RMS is here to help your pharmacy flourish with software, training, hardware and support to make your business more profitable and customer-centric. Contact us today!