I am asked a lot, what is the difference between very successful pharmacy businesses and those that are just okay. My answer is always the owner thinks bigger. Your typical pharmacy is primarily retail and will do traditional marketing, provide the typical services, rely on great service and market to 2 or 3 mile radius. All these are important but the great pharmacies will go big and do things that are uncomfortable. Examples include:
- Looking at the target market not just as a 2 mile radius but as a 10 or 20 or even 50 mile radius.
- Seeing the customer as not only the patient walking in the door but also as the prescriber, hospital, facility, pharmaceutical reps, other businesses in the community, etc.
- Not being afraid to seek out multiple lines of business, compounding, long term care, retail and specialty.
- Owning multiple pharmacy locations not just in the local area but maybe hours away or even a full state or two away.
- Creating programs specifically designed for a doctor’s office, hospital or other partner.
- Focusing on one or two disease states to drive business from a large community of patients.
- Having a call center to attract and solicit new patients.
