Start with Why

By Shirin Haklar – BPharm, GradDrip Accounting – Brisbane Pharmacy Accountant

When I was studying Accounting with a view to transition from Pharmacy to Accounting as a profession, my Pharmacist employer asked me, ‘why would you want to do that? So boring?’ This could not be further from the truth for me. Accounting and specifically business strategy is my passion and I could not wait to share my knowledge. I wanted to make a real difference in each of my client’s businesses and help them reach their financial goals.

I had a realisation about this recently as I was invited to a networking event through a site connecting people with local networking events. When I arrived in the room of 250 people I didn’t know, I wondered why had I decided this was a good idea? However, after a few minutes of panic, I remembered a video I had seen by Simon Sinek – I realised I was there to share my knowledge and to give back, without expecting anything in return. That was my ‘why.’

Do you know your why? Why you became a Pharmacist and a Pharmacy owner?  The answer has to be deeper than simply, “to make lots of money.”  If you go back to grass roots and discover your ‘why,’ then share it with your employees and customers – financial success will follow. You might think this is just new age nonsense.  However, I am sure you would agree that the traditional role of the Pharmacist must evolve for pharmacies to remain profitable.

For example, if the reason you became a Pharmacist was to help your patients and community, then you will be offering health services such as vaccinations, clinical interventions, dose administration aids etc.. These services will make a real difference in your customers’ lives as well as boosting your net profit. This could differentiate your Pharmacy, turning a happy customer into a ‘raving fan’ – which is essentially free, and the best form of advertising.

You could also consider building your profile in the community. Offer your time at the local RSL, nursing home or school to raise awareness for a relevant health issue in your community. This will in turn promote your Pharmacy and show you truly care.

So we loop back to the question, what is your why? If you find your why, and stick to it, success will follow. As Simon Sinek says in the aforementioned video: “People buy why you do what you do, not what you do.”

Shirin Haklar – BPharm, GradDip Accounting

Shirin specializes in Brisbane Pharmacy Accounting and has been in the industry for over 10 years. Contact her today at Marsh Tincknell Accountants if you have any questions about your Pharmacy Accounting and business strategy.