UBC Phar400-pharmacy business planning-30sept2011
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Transcript of UBC Phar400-pharmacy business planning-30sept2011
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UBC – Pharm 400Pharmacy Management
Strategic Business Planning
Sept 30, 2011Gerry Spitzner
retailSOS.ca
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Old School meets new school
Bringing a new perspective
“It was the best of times, it was the worst of times” – Charles Dickens
The Game Has Changed
Gerry Spitzner
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Dramatic change community Pharmacy is going through right now.
A very large shift is occurring in the market – a disruptive one, some would argue.
The Game Has Changed
Gerry Spitzner
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Thoughtstarters Leadership Brand and Branding Strategic approach to planning Your Clinical Service Business Plan
Objectives
Gerry Spitzner
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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”.
Thoughtstarters
Gerry Spitzner
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The Declining Need for and Escalating Value of Human Service
Are Pharmacists the ultimate barrier to Pharmacy practice change?
Thoughtstarters
Gerry Spitzner
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Do you want to make an impact?
Video: TED Talk by Derek Sivers Start a movement; with the power of two
Thoughtstarters
Gerry Spitzner
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Definition of Leadership
Trust Other People Act With Integrity Show the way then get out of the way
Leadership
Gerry Spitzner
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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
Brand and Branding
Gerry Spitzner
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Are you ready...??
What is the REAL purpose of a business?
In retail it used to be...
It’s all right up here...
Thoughtstarters
Gerry Spitzner
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Three broad areas
Finance, Marketing, Operations
Why do I need a plan?
The Business Plan
Gerry Spitzner
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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?”
BREAK
Gerry Spitzner
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What is your why?
Video: TED Talk by Simon Sinek - How great leaders inspire action
Thoughtstarters
Gerry Spitzner
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“What are you offering to your customers that sets you apart from the competition?”
Be Different or Be Dead
Gerry Spitzner
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“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
“What are you offering...?
Gerry Spitzner
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“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
“What are you offering...?
Gerry Spitzner
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“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
“What are you offering...?
Gerry Spitzner
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The “only” statement; the birth of differentiation
We are the ONLY ones that...
The “only” statement
Gerry Spitzner
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“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.”
A Worthy Only Statement
Gerry Spitzner
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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.
Quick Bites
Gerry Spitzner
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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.
Quick Bites
Gerry Spitzner
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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?
Strategic Approach
Gerry Spitzner
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HOW BIG do we want to be?
What are the financial goals in order to satisfy the owners of the business?
Strategic Approach
Gerry Spitzner
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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?
Strategic Approach
Gerry Spitzner
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HOW will we COMPETE and WIN?
How do you intend to compete with other companies available to your targeted customers and win?
Strategic Approach
Gerry Spitzner
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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.”
How Win Statement
Gerry Spitzner
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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).”
Strategic Game Plan Statement
Gerry Spitzner
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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.
Strategic Summary
Gerry Spitzner
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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?
Strategic Summary
Gerry Spitzner
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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.
Strategic Summary
Gerry Spitzner
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If people are not accountable, nothing happens.
Too many objectives paralyzes progress; define the critical few and do them.
Strategic Summary
Gerry Spitzner
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Financial spreadsheet template
Begin with start up Sales and revenue Then expenses Review your cash flow
Financial Plan (HOW BIG)
Gerry Spitzner
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Stop Marketing. Start Engaging.
The four principles of Marketing strategy
Market research
Marketing Plan (WHO SERVE)
Gerry Spitzner
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Deliver the promise
The 1 degree of difference
Operations Plan (HOW WIN)
Gerry Spitzner
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Make meaning Make mantra Get going Define a business model Weave a MAT (milestones, assumptions, tasks)
What Next?
Gerry Spitzner
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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
What Next?
Gerry Spitzner
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Connect with me
Twitter: @passion4retail LinkedIn: Gerry Spitzner Blog: retailsos.ca Email: [email protected] Info: gerryspitzner.tel Info: retailsos.tel
Thanks
Gerry Spitzner