If I reflect on my own journey in business, particularly from when I started Peak 12 years ago up until now, there is one aspect I think defines everything we do. It is fundamental to our successes, it is fundamental to how we bounce back from failure, it is fundamental to how every individual evolves when they become part of the Peak family, and it is fundamental to how we connect with our clients.
When I dig down further and reflect on those the key issue that separates long term success in community pharmacy and pharmacy owners, it is culture. And to me this is a pharmacy owners greatest challenge, particularly in an era where pharmacy has changed, and will continue to change and evolve.
I have said this before, owners spend too much time blaming external forces when things do not go to plan. The Blame Game. Yes, there are a lot of things that impact this industry that are outside our control. How you respond, and how your team responds only comes down to one thing. The culture you set.
It impacts everything.
Team dynamics, how the community perceives your store, how your team responds to failures, challenges, the effectiveness of systems, how procedures are executed, health focus pharmacy offering, and most importantly, how your team and your business grows and evolves.
The reality is, how successful your business is (and success is not just defined by $, it is more than that) comes down to culture.
If I dig down even further into this, how is that culture formed to begin with? This is the process that was shown to me, that we followed at Peak…
Define your own personal goals first – spend time with yourself first and identify the values that mean the most to you. Take your time with this and be truthful to yourself.
Rate your top 5 – I do a scoring system. 1 v 2, 1 v 3, 1 v 4, 1 v 5, 2 v 3 etc.
Ask your senior management team, or your whole team if the team is small enough, to go through the same process. But it is important here to set the tone, and explain why this is important, and how their views are crucial.
Now group the common values and themes amongst everyone in your team to determine your top values.
These are the values that are most important to your team. When we did this we wrote it on our walls (we have writable walls, like a white board…..really cool) and it has been there ever since, for everyone to see, live and breathe. Put these values up and display them boldly and proudly.
These values are what your pharmacy now lives and breathes. Done correctly it forms the core of everything you do. This is the decision-making framework behind everything. And it should be the core of everyday life in the store.
But it doesn’t just happen. It takes continued reinforcement. Leadership.
A few ways we reinforce this positive culture here at Peak is through:
Daily Huddles – a quick meeting at the start of everyday where the team list their goals for the day, bring up any concerns, and share how their weekend was or a personal story (if they want to). A good daily huddle is quick, will keep everyone accountable and has some good banter.
Team building – We all know how important team training is, but this is different to team building. Create an environment where your employees feel comfortable, respected, and able to be themselves. Team building can be linked to store KPI’s as a reward, or it can be a quarterly event that encourages a supportive relationship between your team.
Check in on your team 1:1 – Take the time to have those conversations with your employees one on one. Whether it is a simple, “how are you doing today?”. Or if needed a sit down and ask about how they are feeling in their role and future in the company. Your employees want to feel valued and like their job is secure. This is an opportunity to find those rising stars who you can train and nurture to take on larger roles in the business too.
This is only going to work if you, as the business owner, and your senior management team lead by example all day, every day. It also takes realignment and reinforcement when mistakes are made and when we stray outside of our culture set. It will happen. It will always happen. That realignment also needs to occur when you, the owner is not there too. Over time it will just become part of who you are.
Importantly it starts to take a life on its own. It will evolve just like we all do. That culture then starts coming out naturally, through your teams’ interactions with your customers and patients. It becomes part of the business’s personality. And your community will connect with it too. With the best performing stores I know, you can feel this culture, this atmosphere as soon as you walk into the store. It is a tangible feeling. That is really powerful.
This culture also forms the basis of your future hiring decisions. You hire based on whether that person meets your culture, not just based on the skill sets. Yes, I know, the industry is having a chronic staff shortage problem, but you need to be patient here and stick to hiring based on cultural fit first and foremost. If it takes time, so be it. It is not worth the cost.
First time pharmacy owners, you have the greatest opportunity to set the cultural standards from the very beginning and use this as part of your own pharmacy ownership journey. You have an open mind and willingness to try and be adaptable. You have a great opportunity here.
Working partners, your job is a little harder, but still you set the tone for the store culture and dynamics. Particularly as you are the one leading by example which the team will be following and looking up to.
For the more established pharmacy owners, fundamental change in how you potentially have been operating your pharmacy businesses to date is going to be a challenge. But if you are open to adapting and evolving as a person, then you are in the right mindset to take this on.
In our Mastermind program store culture and organisational charts are one of the first topics we work on. If you want to create change in your pharmacy on a monetary level, you need to have your team onboard. When your team understands why you are making changes and you can talk to them about these changes based on your shared values, things will be a lot smoother.
The pharmacy’s we have seen the most improvements in customer numbers, script numbers and overall profits have been those who invest into their store culture and understand its importance. If culture is the heart of it all, you and your leadership will define how successful you are going to be.
Now is the time to invest in your pharmacy’s future as we exit the madness of Covid and your team has the space to breathe. It is time to realign your values and show your team they are appreciated.
Enquire about our Mastermind program now and see if you are eligible.
Take the test here or book an obligations free consult below.
