If you own a pharmacy, you are a small business owner. The number one problem with small businesses is that the owners are a one man band. Many pharmacy owners have to do every job, pharmacist, marketer, sales, inventory expert, accountant, etc.
When you first own the business you feel like you must learn every aspect. The problem is that you become the expert in every area and then end up doing it all. How do you stop this?
There are three key components:
- What do you Like? – Determine what you like doing and want to continue doing and what you do not. The items you do not want to do need to be delegated.
- Process – a process needs to be defined and created for everything you want to delegate. This way you can either have a technician or staff member do and manage them to the process or you can outsource, like accounting. A great book on this is E-Myth – Mastery
- Train – for anything that is delegated begin slowly. Train staff members on a small piece of the task. For example if you train on inventory management. Teach them how to pull a report for cycle counts not how to pull the report, count the pills, update the system all at the same time. Have them pull the report for one week. This will get them good at one item which will begin saving you time immediately. A great book on this is the One Minute Manager
Give this a try and you will enjoy owning a business a lot more, have more time and be more profitable. If you want to discuss this reach out to us at anytime.
At IRx Consulting we are Accounting experts and offer a comprehensive Pharmacy Accounting and Management service with a suite of complimentary services including Data Dashboards, Payroll & Human Resources and Pharmacy Management consulting.