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How to improve your pharmacy through being different

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How to improve your pharmacy through being different

Dare to be different

When I first started Peak Strategies (PS), I had a problem with truly connecting to what I was doing. This was because I felt no different to other accounting firms. I was delivering the same things as everybody else. I didn’t like that, I wasn’t proud. Furthermore, l wanted to feel unique and special.

Then I had a significant turning point in my career. This moment had such a fundamental impact on my business. It happened when I was in the process of choosing the PS colour and logos. The graphic designer gave me a range of colours and choice of design. She however, asked what colour I disliked the most and couldn’t image using. I said fluorescent orange and she responded with “well that’s what you’re going with”. You can imagine the panic and emotional turmoil I felt towards that response. HOWEVER at this point, I hadn’t realised that I was beginning to differentiate myself from the others (others being accounting firms).

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How to prepare for Pharmacy Partnerships

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How to prepare for Pharmacy Partnerships

Pharmacy Partnerships, what should I consider?

Following on from my blog “You want to Buy a Pharmacy, why would you want to do that?” one of the most common entry points into pharmacy ownership is partnerships.

Quite often the first entry point for most talented young pharmacists is being offered to buy into the pharmacy where they work. This is the entry point where many ownership dreams have been created.

Common Errors in Pharmacy Bookkeeping Part 2

Common Errors in Pharmacy Bookkeeping Part 2

COMMON ERRORS IN PHARMACY BOOKKEEPING PART 2

Last week we talked about how a good chart of accounts sets a good foundation for pharmacy bookkeeping. This week we will discuss another pain point we often come across. Common Errors in Pharmacy Bookkeeping Part 2:

GST on revenue and expenses

Pharmacy accounts tend to be more prone to GST errors than other businesses. It comes across many GST exceptions through the products/services it offers, and/or by the way they conduct their business (e.g. exports).

Common Errors in Pharmacy Bookkeeping Part 1

Common Errors in Pharmacy Bookkeeping Part 1

Errors in Pharmacy Bookkeeping.

Everyday I deal with and review numerous sets of accounts. You’ll be surprised how big the range is for the difference in quality of data in the various accounts. Some of the accounts are just so glorious; they represent a true and fair picture of the business.  Others requires a bit of an “accounting touch” to it and some will drive me directly to the café downstairs and get a mocha (yes, my fav) to calm myself and prevent me from pulling all my hairs out.  Once in a blue moon, there are the ones where it’s beyond repair and you just better off scrunch it up, bin it and start from scratch again.

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So you want to buy a pharmacy, why would you want to do that?

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So you want to buy a pharmacy, why would you want to do that?

So you want to buy a pharmacy?

I speak to many young pharmacists that are keen to buy a pharmacy for the first time. I help them with their structuring, valuations, due diligence, advice, mentoring and getting them in touch with the right lawyers and bank managers. It is a stressful and anxious time, as it should be. They are about to borrow ALOT of money.

Acknowledgement of Country

Peak Strategies acknowledges the traditional custodians throughout Western Australia and their continuing connection to the land, waters and community. We pay our respects to all members of the Aboriginal communities and their cultures; and to Elders both past and present.

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