Pharmacy Profit Driver – Your Team | with Patti Mara
Links Mentioned:
Bonus Performance Study
Keywords: Turning On The Most Important Profit Driver In Your Pharmacy – Your Team. Pharmacy Heroes
Summary:
Lisa Faast and Patty Mara discussed the challenges independent pharmacies face, particularly in team management and retention. They highlighted issues like wage disparities, staff shortages, and the impact of the pandemic on team dynamics. Patty emphasized the importance of clear value delivery, position agreements, regular communication, and feedback. She introduced a four-month Team Success Jump Start program for $500, designed to help pharmacies implement these strategies. The program includes monthly webinars, templates, and Q&A sessions. Lisa stressed the program’s affordability and its potential to significantly improve pharmacy operations and employee engagement.
Action Items
- @Lisa Faast – Create signup page for the Team Success Jump Start program and send out additional information to members.
- Send email to Lisa to sign up for the Team Success Jump Start program if interested.
- Grab tickets for the February summit as less than 100 remain available.
- Send link to kindergarten motivation study research paper to Lisa for sharing with members.
Outline
Introduction and Purpose of the Meeting
- Lisa Faast welcomes everyone to the January 2023 meeting and expresses optimism for the year.
- Lisa introduces the main topic: the challenges pharmacy owners face with their teams, particularly in the post-pandemic economy.
- She highlights the difficulties in hiring new employees and retaining current ones due to wage disparities with other industries.
- Lisa emphasizes the importance of having a structured team to avoid culture and engagement issues.
Introduction of Patty Mara
- Lisa introduces Patty Mara, a former business coach and long-time collaborator.
- Patty shares her history with Lisa and her experience working with pharmacy owners since 2007.
- Patty describes herself as a passionate advocate for locally owned businesses and their role in community revitalization.
- She mentions her online program, “Profit Generator,” and her book, “Up Solutions,” which focuses on turning teams into heroes and customers into raving fans.
The Importance of Team Success
- Patty explains that the team is the most important profit driver in a pharmacy.
- She discusses the challenges pharmacies face, such as supply chain interruptions, inflation, and the shortage of qualified applicants.
- Patty emphasizes the need for pharmacy owners to redesign their operations based on current realities.
- She highlights the importance of having a robust team to implement new strategies and programs.
Current Challenges and Solutions
- Patty discusses the impact of the pandemic on pharmacy operations and the increased interaction with patients.
- She addresses the issue of staffing shortages and the fear of losing current team members.
- Patty explains the concept of “culture creep” and how it affects team morale and productivity.
- She shares a personal anecdote about the positive impact of letting a long-time but underperforming employee go.
Four Pillars of Team Success
- Patty introduces the four pillars of team success: being clear on the value delivered, having position agreements, regular team communication, and providing regular feedback.
- She explains the importance of understanding the value created by the pharmacy and how it is delivered to patients.
- Patty emphasizes the need for clear position agreements that go beyond job descriptions to include standards of success.
- She highlights the importance of regular team communication, whether through weekly huddles or other structured meetings.
Implementing the Four Pillars
- Patty advises starting with regular team communication and building from there.
- She suggests using templates for position agreements and other documents to streamline the process.
- Patty emphasizes the need for regular feedback, both positive and corrective, to reinforce good behavior and address issues.
- She encourages pharmacy owners to start with what they can do today and adapt as needed.
Program for Team Success Jump Start
- Patty introduces a four-month program called “Team Success Jump Start” to help pharmacies implement the four pillars.
- The program includes monthly training webinars, templates for key documents, and monthly Q&A office hours.
- Lisa Faast highlights the affordability of the program, priced at $500, and its value compared to working with Patty one-on-one.
- The program is designed to help pharmacy owners and their teams create a structured and engaged work environment.
Conclusion and Call to Action
- Lisa Faast encourages pharmacy owners to reach out for more information about the program and to sign up.
- She emphasizes the importance of having engaged employees to succeed with cash-based revenue strategies.
- Lisa and Patty open the floor for questions, but no one has any at the end of the meeting.
- The meeting concludes with Lisa thanking everyone and reminding them about the upcoming Diversify RX conference.