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

1. Sept 30, 2011
Gerry Spitzner
retailSOS.ca

2.  Old School meets new school
 Bringing a new perspective
 “It was the best of times, it was the worst of
times” – Charles Dickens
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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.
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4.  Thoughtstarters
 Leadership
 Brand and Branding
 Strategic approach to planning
 Your Clinical Service Business Plan
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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”.
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6.  The Declining Need for and Escalating Value of
Human Service
 Are Pharmacists the ultimate barrier to
Pharmacy practice change?
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7.  Do you want to make an impact?
 Video: TED Talk by Derek Sivers
 Start a movement; with the power of two
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8.  Definition of Leadership
 Trust Other People
 Act With Integrity
 Show the way then get out of the way
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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
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10.  Are you ready...??
 What is the REAL purpose of a business?
 In retail it used to be...
 It‟s all right up here...
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11.  Three broad areas
 Finance, Marketing, Operations
 Why do I need a plan?
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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?”
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13.  What is your why?
 Video: TED Talk by Simon Sinek - How great
leaders inspire action
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14.  “What are you offering to your customers that
sets you apart from the competition?”
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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
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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
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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
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18.  The “only” statement; the birth of
differentiation
 We are the ONLY ones that...
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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.”
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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.
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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.
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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?
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23.  HOW BIG do we want to be?
 What are the financial goals in order to satisfy
the owners of the business?
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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?
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25.  HOW will we COMPETE and WIN?
 How do you intend to compete with other
companies available to your targeted
customers and win?
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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.”
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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).”
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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.
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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?
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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.
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31.  If people are not accountable, nothing
happens.
 Too many objectives paralyzes progress;
define the critical few and do them.
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32.  Financial spreadsheet template
 Begin with start up
 Sales and revenue
 Then expenses
 Review your cash flow
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33.  Stop Marketing. Start Engaging.
 The four principles of Marketing strategy
 Market research
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34.  Deliver the promise
 The 1 degree of difference
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35.  Make meaning
 Make mantra
 Get going
 Define a business model
 Weave a MAT (milestones, assumptions,
tasks)
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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
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37.  Connect with me
 Twitter: @passion4retail
 LinkedIn: Gerry Spitzner
 Blog: retailsos.ca
 Email: gerry@retailsos.ca
 Info: gerryspitzner.tel
 Info: retailsos.tel
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