UBC Phar400-pharmacy business planning-30sept2011


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Presentation to 4th Year Pharmacy students on strategic business planning for their clinical service year end project.

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UBC Phar400-pharmacy business planning-30sept2011

  1. 1. Sept 30, 2011Gerry Spitzner retailSOS.ca
  2. 2.  Old School meets new school Bringing a new perspective “It was the best of times, it was the worst of times” – Charles Dickens retailSOS.ca Gerry Spitzner 2
  3. 3.  Dramatic change community Pharmacy is going through right now. A very large shift is occurring in the market – a disruptive one, some would argue. retailSOS.ca Gerry Spitzner 3
  4. 4.  Thoughtstarters Leadership Brand and Branding Strategic approach to planning Your Clinical Service Business Plan retailSOS.ca Gerry Spitzner 4
  5. 5.  Are you ready to charge for the time it took and it‟s going to take to keep your knowledge up? You worked hard to advance your education; you deserve more than a “gold star”. retailSOS.ca Gerry Spitzner 5
  6. 6.  The Declining Need for and Escalating Value of Human Service Are Pharmacists the ultimate barrier to Pharmacy practice change? retailSOS.ca Gerry Spitzner 6
  7. 7.  Do you want to make an impact? Video: TED Talk by Derek Sivers Start a movement; with the power of two retailSOS.ca Gerry Spitzner 7
  8. 8.  Definition of Leadership Trust Other People Act With Integrity Show the way then get out of the way retailSOS.ca Gerry Spitzner 8
  9. 9.  What‟s the difference? Brand - the message you push out Branding - the message that pulls people Horizontal Branding – one for all Vertical Branding – all for one retailSOS.ca Gerry Spitzner 9
  10. 10.  Are you ready...?? What is the REAL purpose of a business? In retail it used to be... It‟s all right up here... retailSOS.ca Gerry Spitzner 10
  11. 11.  Three broad areas Finance, Marketing, Operations Why do I need a plan? retailSOS.ca Gerry Spitzner 11
  12. 12.  To build a successful Pharmacy practice you need a strategic approach with a tactical business plan that communicates benefits and answers the question... “Why should I do business with you?” retailSOS.ca Gerry Spitzner 12
  13. 13.  What is your why? Video: TED Talk by Simon Sinek - How great leaders inspire action retailSOS.ca Gerry Spitzner 13
  14. 14.  “What are you offering to your customers that sets you apart from the competition?” retailSOS.ca Gerry Spitzner 14
  15. 15.  “We... have been doing business here for nearly three decades. Offering quality products, great prices and excellent service in an easy-access location is definitely the foundation to our success.” – a carpet company retailSOS.ca Gerry Spitzner 15
  16. 16.  “Variety of unique and effective programs for weight loss that you won‟t find anywhere else, certified professional trainer, registered nutritionist on site, work with you one-on- one.” – a weight loss business retailSOS.ca Gerry Spitzner 16
  17. 17.  “Fast, friendly prescription service. We accept 3rd party plans, provide delivery service and blister packing for our valued customers.” – a drug store “Helpful, friendly professionals who enjoy assisting patients. It is our goal to maintain exceptional service as our top priority.” - hearing consultants retailSOS.ca Gerry Spitzner 17
  18. 18.  The “only” statement; the birth of differentiation We are the ONLY ones that... retailSOS.ca Gerry Spitzner 18
  19. 19.  “AM730. All traffic. All the time. AM 730 Vancouver‟s Traffic Station is the only station providing traffic twenty four hours a day seven days a week. AM 730‟s audience has grown over 500% since launching, and more and more people are saving time and money by listening every day.” retailSOS.ca Gerry Spitzner 19
  20. 20.  The only statement forces you to consider customer benefits that only you provide; aspirations do nothing but make you feel good. The only statement will set your team apart from all others in the market who are striving to avoid failure; you will be the long term winner. retailSOS.ca Gerry Spitzner 20
  21. 21.  The “Be Different” mantra is to be the only one that provides a service or product in a way that mirrors what customers want. Keep checking your only statement with your customers to test it‟s validity over time. Don‟t forget your competitors aren‟t sleeping. retailSOS.ca Gerry Spitzner 21
  22. 22.  Strategically only 3 questions that matter... HOW BIG do we want to be? WHO do we want to SERVE? HOW will we COMPETE and WIN? retailSOS.ca Gerry Spitzner 22
  23. 23.  HOW BIG do we want to be? What are the financial goals in order to satisfy the owners of the business? retailSOS.ca Gerry Spitzner 23
  24. 24.  WHO do we want to SERVE? Who are the customers to whom you intend allocating scarce resources because you believe they represent the best economic opportunity for the firm? retailSOS.ca Gerry Spitzner 24
  25. 25.  HOW will we COMPETE and WIN? How do you intend to compete with other companies available to your targeted customers and win? retailSOS.ca Gerry Spitzner 25
  26. 26.  Here‟s an example... “Our basic competitive approach will be to develop intimate one-to-one relationships with our diabetic patients (customers) and be the only Pharmacy in our community that delivers healthy living offers to match each one‟s unique needs and preferences.” retailSOS.ca Gerry Spitzner 26
  27. 27.  The strategic game plan statement combines the answers to the questions: HOW BIG? WHO to SERVE? HOW WIN? “We intend to (HOW BIG) by [desired time frame] by focusing our scarce resources on (WHO to SERVE). We will compete by (HOW to WIN).” retailSOS.ca Gerry Spitzner 27
  28. 28.  Financial goals determine the character of your strategy. Morph from a strategy-drives- financials paradigm to a financials-drive- strategy one. There is no such thing as a bad customer; it‟s just that some are better than others. retailSOS.ca Gerry Spitzner 28
  29. 29.  Lifetime value = present value + strategic value. It separates the good customers from the great ones. If a customer segment can‟t deliver your financial goals why would you bother with it? retailSOS.ca Gerry Spitzner 29
  30. 30.  If frontline people can‟t answer the customer question „Why should I do business with you as opposed to someone else?‟ you haven‟t done your only work. The Strategic Game Plan statement is your strategic anchor; it communicates the essence of your strategy. retailSOS.ca Gerry Spitzner 30
  31. 31.  If people are not accountable, nothing happens. Too many objectives paralyzes progress; define the critical few and do them. retailSOS.ca Gerry Spitzner 31
  32. 32.  Financial spreadsheet template Begin with start up Sales and revenue Then expenses Review your cash flow retailSOS.ca Gerry Spitzner 32
  33. 33.  Stop Marketing. Start Engaging. The four principles of Marketing strategy Market research retailSOS.ca Gerry Spitzner 33
  34. 34.  Deliver the promise The 1 degree of difference retailSOS.ca Gerry Spitzner 34
  35. 35.  Make meaning Make mantra Get going Define a business model Weave a MAT (milestones, assumptions, tasks) retailSOS.ca Gerry Spitzner 35
  36. 36.  Niche thyself Find and work with infected people Lower the barriers to adoption Seed the clouds Don‟t let the bozo‟s get you down retailSOS.ca Gerry Spitzner 36
  37. 37.  Connect with me Twitter: @passion4retail LinkedIn: Gerry Spitzner Blog: retailsos.ca Email: gerry@retailsos.ca Info: gerryspitzner.tel Info: retailsos.tel retailSOS.ca Gerry Spitzner 37