• Blog
  • Member Log-In
  • Contact Us
(800) 987-7386
  • Home
  • Why PDS?
  • Success Stories
    • Member Testimonials
    • Case Studies
  • Programs for Pharmacies
    • Membership
    • PDS do-it-for-you Solutions
      • PDSconnect
      • PDSfinancials
      • PDSreach
  • Resources
    • Finances
    • Operations
    • Team
    • Growth
  • Let’s Talk
  • Menu Menu
You are here: Home1 / All2 / 5 New Year’s Resolutions for Pharmacy Owners in 2016
Happy_New_Year_from_PDS-1.png

5 New Year’s Resolutions for Pharmacy Owners in 2016

December 31, 2015/0 Comments/in All, Pharmacy Growth Strategies/by pdsmarketing

 

Happy_New_Year_from_PDS-1.png2015 was another transformative year for independent pharmacy. From increasing DIR fees to increased competition from e-commerce and large national chains, pharmacy owners faced both familiar and brand new challenges nationwide. As 2015 comes to a close, it is time to develop a strategic business plan for 2016. While you may be able to slack off on some of the typical New Year’s Resolutions like joining a new gym, your independent pharmacy business is one area that deserves your energy and attention.

What do you really need to guarantee that your business will boom in 2016?

You already know how to be a great pharmacist, but is every available tool on how to be an outstanding business owner already in your toolbelt? The strategies and knowledge that have gotten you this far will not be able to drive your business into the future successfully. Here are the top 5 New Year’s Resolutions that every pharmacy owner needs to dominate in 2016.

  1. Implement a Pharmacogenomics Program

Pharmacogenomics is one of the key aspects of personalized medicine, which focuses on how genes affect the way people respond to medications. We first started talking about it this summer on the Pharmacy Business Advice Blog and have consistently recommended it as a profitable method for expanding your business and staying relevant. We truly believe that pharmacogenomics is the future of medicine! Being one of the first pharmacies to bring it to your area is an opportunity you do not want to miss. Click here to learn more and access our free webinar, Introduction to Pharmacogenomics.

  • Make Networking a Priority

As an independent pharmacist, it’s easy to discount the fact that you are part of a large, impressive community, which is why networking with peers has proven to be an invaluable tool for thousands of pharmacy owners just like you. By investing the time and money to attend industry events, you will generate new ideas, gain emotional support and acquire valuable business advice. Just because you own your own business does not mean you have to “go it alone.” Make 2016 easier and better by networking and spending time with other independents who understand and support you.

  • Use Smarter Tax Strategies

Make 2016 the year that you stop giving the government more money than you have to. There are countless ways to save money on taxes that you don’t even know exist. For example, you can charge your business to hold meetings in your home up to 14 times each year. This creates a deduction on the corporate or business side while creating income that you do not pay taxes on. What other tax strategies are you missing? Start saving money now by watching our free webinar on pharmacy tax reduction.

  • Identify New Ways to Compete in Your Market

Competing against large national chains and mail-order pharmacies is one thing, while becoming the best pharmacy in your own community is another challenge altogether. How will you set yourself apart from local competitors in 2016? Pharmacogenomics is one method of business expansion we will promote in the year ahead, but what else should you be doing? Make it a priority to identify a few new innovative methods to help you compete in your local market this year.

  • Embrace New Opportunities with an Entrepreneurial Spirit

Pharmacy has entered a new Golden Age of Opportunity. The most entrepreneurial, creative pharmacy owners will actually have fun expanding, diversifying and dramatically growing their pharmacy businesses in 2016, while those who fear and loathe adventure, innovation and dynamic change will be stifled. As an independent pharmacy owner, you are now a target, whether you realize it or not. Make it a priority to identify the new opportunities that are available to you, and embrace the changes we will continue to face as an industry with an open mind. Get started by downloading a copy of our free report, “How to Unleash Your Entrepreneurial Power: The Reinvention of Your Independent Pharmacy

What other steps can pharmacy owners take to make 2016 the best year for independent pharmacy?

Believe it or not, these 5 New Year’s Resolutions are just the tip of the iceberg. At the PDS Together Toward Tomorrow Independent Pharmacy Business Growth Super-Conference, more than 1,000 pharmacy owners will come together to discuss key business concerns and learn new easy-to-implement solutions that will expand independent pharmacies nationwide. If you haven’t already reserved your space, you are missing out. This conference is THE BEST place to find out what you should be doing to grow your business now. Click here to learn more and register. We look forward to seeing you in February.

PDS 2016: Learn More & Register Now!

 

Tags: community pharmacy, Independant Pharmacy, Pharmacy Growth Strategies
Share this entry
  • Share on Facebook
  • Share on Twitter
  • Share on WhatsApp
  • Share on Pinterest
  • Share on LinkedIn
  • Share by Mail
https://www.pharmacyowners.com/wp-content/uploads/2017/08/Happy_New_Year_from_PDS-1.png 125 600 pdsmarketing http://www.pharmacyowners.com/wp-content/uploads/2022/01/PDS-logo.svg pdsmarketing2015-12-31 08:27:482018-03-13 18:07:305 New Year’s Resolutions for Pharmacy Owners in 2016
0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts

  • Financial Literacy for Pharmacy OwnersApril 11, 2022 - 10:59 am
  • Open Enrollment Best PracticesOctober 27, 2021 - 6:40 pm
  • pds super conferenceInspiring Speakers | PDS Super-ConferenceSeptember 17, 2021 - 11:57 am
  • A Pharmacy Owner’s Guide to Getting Started on Social MediaSeptember 15, 2021 - 11:17 am
  • What Does It Mean to Manage Inventory With Purpose?August 24, 2021 - 3:46 pm

Categories

  • All
  • Featured
  • PDS Super Conference
  • Pharmacy Compliance
  • Pharmacy Finances
  • Pharmacy Growth Strategies
  • Pharmacy Operations
  • Pharmacy Profits and ROI
  • Pharmacy Staff Development
  • Pharmacy Team
How we do it (link to pharmacy programs)

About PDS


Company Overview
Our Team
Careers
Press / Media
Podcasts

pds logo

Pharmacy Times SAP Seal

For Members


PDSadvantage
Training

PDS Events


Pharmacy Webinar Series
PDS Super-Conference
PDSspeaks
Event Calendar

Recent Posts


May 11, 2022/by Cynthia JeanInFeatured, Pharmacy Growth Strategies, Pharmacy Staff Development Tags:business growth, community pharmacy, diversification, Independant Pharmacy, Pharmacy Customer Service

Expanding Your Pharmacy’s Reach Through Point-of-Care Testing

April 18, 2022/by Cynthia JeanInFeatured, Pharmacy Growth Strategies, Pharmacy Staff Development Tags:business growth, community pharmacy, Independent Pharmacy, Pharmacy team

Four Strategic Trends Independent Pharmacies Need to Implement in 2022

April 11, 2022/by pdsmarketingInAll, Pharmacy Finances

Financial Literacy for Pharmacy Owners

View PDS Blog

Let’s Talk


  • (800) 987-7386
  • 1926 10th Avenue North #400
    Lake Worth, Florida 33461

Or Contact Us Here

Copyright © 2022. All Rights Reserved. Privacy Policy  |  Terms of Service
  • Facebook
  • Twitter
  • Instagram
  • LinkedIn
  • Member Log-In
  • Careers
  • Contact Us
What to Avoid at Business Networking Events bigstock-Business-People-Conversation-C-80738456.jpg bigstock-Pharmacist-talking-on-the-phon-71565361.jpg 7 Simple Steps Any Pharmacy Owner Can Take for a Happier, Healthier Life
Scroll to top