Suggested Learning

Pharmacies need a plan of action in place to improve their business, Dennis Reid of Retail Performance Specialists told pharmacists in a presentation in the Business seminar stream at The Pharmacy Show last month.

Try and get a business model that works for you, he suggested. “How can you improve the ability to drive traffic into your business? How good are your staff – operationally, keeping the business running and with services? Do you have a system in place for retaining customers?,” he asked.

Many pharmacies want to improve added value services and retail, said Mr Reid. However, in one survey, pharmacists said that of their key most common challenges – number one was managing staff.

“What is the key thing that if you fixed it in the next 90 days, your business would go to a new level of performance? What is the key thing killing your business today? And so you have a plan of attack to fix it? Why are you allowing that to happen?”

Retail Performance Specialists has experience of working with major retailers, including healthcare companies, to improve their businesses, and Mr Reid has a background in elite sports performance coaching. “Do you want to be the best? Is it possible for you to do outstandingly well – yes, absolutely. It takes as much time to be average as it does to be the best, he said.

“I worked alongside an Olympic cycling team, and they decided to sit down and work out how they could be the best in the world. That was a young man called Chris Hoy.” RPS has developed a business programme to support pharmacy. “Your job is to make a business environment where your people come in and do an outstanding job. Does your team know what great looks like? And do your customers and patients understand – ‘why should I deal with you’,” he questioned.

“In 12 or 24 months what needs to be happening in your business for you to be celebrating? Another way of looking at this is what makes it a good week. And what’s currently preventing that from happening,” he suggested.

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