If you haven’t closely examined your pharmacy business lately, chances are you might be making a few business mistakes.
It’s easy to focus on the day-to-day and forget to take a look at the big picture of your business. But over time, repeat business mistakes can cost your pharmacy patients and sales.
The best way to prevent and fix business mistakes quickly is to stay up-to-date with your pharmacy’s business practices. Here are seven common business mistakes you might be making and tips for fixing them.
1. Boxing yourself in
While focusing on a niche is a great way to define your business, boxing your pharmacy into something too specific can cost you patients. If your services and products aren’t relevant to the patients and community you serve, then you’re missing out on sales.
The fix: Learn more about your community, and explore new programs and services that are relevant to your market. For example, if your area has a significant Hispanic community, then consider offering more Spanish-language resources, like translated brochures or a bilingual staff member.
2. Falling behind industry trends
If patients ask about a new generic, the latest over-the-counter product or any other new industry product or trend, and you don’t know about it, you’re hurting your business. If you’re uninformed, you damage your reputation as a health care expert and potentially drive away sales.
The fix: Commit to keeping up with the latest trends so you can service your patients with the most up-to-date knowledge. Attend a conference, subscribe to a trade publication, like Elements magazine, or sign up to receive an industry newsletter.
3. Not adding a personal touch
If you only give advice from a professional standpoint, you lose the personal touch patients value, but if you only draw from personal experience to give advice, you’re not using your expertise to the fullest.
The fix: Use both personal and professional approaches when advising patients. For example, advise a patient looking for sunscreen on the brand you personally use. And, use your professional experience when you explain to a patient that a generic drug works the same as a brand name drug. Mixing the two approaches is the best way to engage patients.
4. Always putting the sale before the relationship
If a patient selects a product you know won’t help him, advise him not to purchase it, even if it means losing a sale. Putting the sale before your relationship with patients can hurt your reputation in the long run.
The fix: Suggest another product that will help the patient. If you can save the patient the hassle of wasting time and money on a product that won’t work, you’ll strengthen his trust in you and make him more likely to turn to you for advice in the future.
5. Forgetting to apologize
Saying sorry isn’t always easy, but forgetting to apologize after a mistake or an inconvenience at your pharmacy can turn a small issue into a bigger offense.
The fix: Have a plan for when an inconvenience or a mistake happens in your pharmacy, and be prepared to apologize. Creating a plan ahead of time will ensure you’re ready to take responsibility if an error occurs.
6. Failing to plan for improvements
Your pharmacy requires improvements to stay up-to-date, and these improvements often require a financial investment. If you’re not investing in your pharmacy’s assets, you can quickly fall behind your competitors.
The fix: Create an investment calendar so you know when you need to update your website, spruce up your storefront or make other improvements. Set savings goals so you’re prepared for the cost of improvements when it’s time for an update.
7. Making staffing mistakes
Whether you have too many workers during slow periods, or you’re understaffed during peak times, staffing mistakes can cost you. Being overstaffed wastes funds, while being understaffed causes long wait times for patients.
The fix: To strike the right staffing balance in staff schedules try tracking your business. Record the number of patients who come in each hour so you can schedule your staff when you need them most.
Avoid these common business mistakes in your pharmacy to improve your business.
