How to Stick to Your Pharmacy Business Resolutions in 2017

Just a couple of weeks into the New Year, so many resolutions have already been forgotten.  Those oh so good intentions to spend more time with our families, grow our businesses, or change a broken process have been put on the back burner, because the daily routines and habits that are already well established have gotten in the way.   

According to these statistics, over 25% of resolutions are not maintained past the first week of the New Year.  That number just goes up as the year goes on with only a little over 9% of people feeling that their resolution was achieved.   

It’s a little disheartening to discover that so many resolutions fail each year.  But that doesn’t stop us from trying again.  And each time we do, perhaps we make small adjustments to our resolutions, or how we go about achieving them. But how can we really make a difference this time around?   

This article sheds some light about what gets someone to successfully complete a New Year’s resolution.  Though many of these points may be tailored to more personal goals like eating healthy or exercising regularly, they can easily be adapted to help you achieve your pharmacy business goals.  Here’s a closer look at a few key points: 

“Make your goals specific” You can’t just say “I’m going to grow my pharmacy this year”.  That’s not going to cut it.  Grow how? And by how much? Trying something like, “I’m going to increase my profitability by 5% this year” is something you’ll know whether or not you achieved because come December 31st, your bottom line will tell you. 

“Measure Progress” This is where your pharmacy POS system often comes into play. Knowing where you are at with any goal will almost always necessitate some key performance indicators (KPI’s) about profit margins, transaction volume, sales history, and much more. 

“Share your goals” Instead of sharing your goals with friends and family, talk to your pharmacy service providers.  They may not be able to hold you accountable like a gym buddy, but they certainly should be able to help you get where you’re going with advice, best practices, and innovative products. 

“Something is better than nothing” Attempting to force big change all at once is incredibly difficult.  And for small pharmacies with tight resources, it can be a practical impossibility. Don’t be afraid to take baby steps where you have to in your pharmacy.  Even a seemingly small step like adding a register or replacing some outdated equipment can make a big difference in your pharmacy.  If your goal was a 5% increase in profits, but you only achieved 3% by the end of the year, that’s still better than nothing!

We’d love to hear what resolutions you have made for your pharmacy business in 2017.  Share in the comments section below.