5 Key Traits of Successful Pharmacy Entrepreneurs

The world’s most popular entrepreneurs like Donald Trump and Steve Jobs intrigue everyone, however, there’s a common misconception that being a successful entrepreneur means being very well-known and highly acclaimed. You don’t have to be Sir Richard Branson or Mark Zuckerberg or change the course of history to be a successful entrepreneur. You also don’t have to be Type A personality, an overachiever, a workaholic or even an extrovert, to run a successful pharmacy business. Successful entrepreneurs come from all backgrounds and walks of life, and many of them are just like you.

Whether you’re the CEO of a multi-billion dollar company or the owner of an independent pharmacy, successful entrepreneurs have several common traits. These include:

Passion

Many successful pharmacy entrepreneurs are passionate about evolving the community pharmacy industry and this is what fuels them to succeed. Entrepreneurship is not a path for someone who is just interested in going through the motions, it’s a career path for people who strive to improve the lives of others regardless of the roadblocks that lie ahead.

Fearlessness

On a scale from “avoids risk” to “risk taker,” entrepreneurs tend to fall closer to the latter. Being fearless means being bold and making decisions even if they’re scary. It means being comfortable with the idea that failure is a possibility, but holding back is not an option.

Adaptability

The pharmacyindustry is ever-changing, and the most successful pharmacy entrepreneurs and their teams are able to quickly adapt to these changes. Things may even evolve from the time you think about implementing a new program to the time it’s actually in place. Sometimes, unforeseen issues arise and a change in course is needed.

For example, you decide to start a travel vaccination program, your team is trained and as you get ready to launch several key employees leave. You no longer have the resources you need but instead of giving up on the program, you assemble a new team and prepare for the launch. As a successful entrepreneur, you know that in order to achieve something bigger you have to overcome obstacles and remain fluid.

Vision

One of the defining traits of successful entrepreneurship is the ability to see an opportunity and turn ideas into action. The most successful pharmacy entrepreneurs have a curiosity that cannot be contained. They are constantly on the lookout for new programs that can benefit their community and will help their business grow. They are constantly creating ways to make things better, and they effectively communicate their vision to their staff, customers, and their community.

Self-Discipline

Being a successful entrepreneur doesn’t mean staying at your pharmacy until all hours of the night or working during your vacations. The most successful entrepreneurs know that you need to spend more time your business instead of in it. It’s important that you have the self-discipline to step away from working behind the counter and to focus on the tasks that need to be done such as; hiring new employees, setting up new processes, and building a positive culture.During your journey as a pharmacy entrepreneur, you’re going to make mistakes, and there may be times when you want to give up. What sets the most successful entrepreneurs apart from the rest is fearlessness, self-discipline, adaptability, vision, and passion. If you don’t already embody these characteristics, it’s okay. Not all entrepreneurs do, and you can still be successful. The most important thing is to use your strengths to your advantage and always strive to be a better person, owner, and entrepreneur.

Want to learn more about pharmacy ownership and standing out from the crowd? Download our free eBook, 3 Innovative Ways to Compete in the Pharmacy Market