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The Profit Vault October 2024
Ready for the Challenge?
How 75 Days of Consistency Can Transform Your Pharmacy
As the year draws to a close, it’s easy to let the season’s chaos take over — especially for pharmacy owners balancing flu vaccines, COVID-19 boosters, and the usual uptick in prescriptions. But what if we could harness this time to end the year stronger than ever? That’s where the 75 Hard Challenge for Pharmacy Owners comes in. Inspired by Andy Frisella’s original 75 Hard program, which focuses on strengthening mindset, I’ve tailored this challenge specifically for pharmacy owners. While Frisella’s program is often associated with fitness, it’s really about consistency — doing hard things every day to build resilience and success over time. In the same way, our version of the 75 Hard Challenge is designed to help you develop leadership skills, uplift your team, and boost profits by focusing on consistent actions. WHY CONSISTENCY IS KEY One thing I’ve learned in my years working with independent pharmacies is that consistency is the key to success. It’s not about the big, flashy moves but the small, consistent actions that add up over time. Whether it’s ensuring your team is trained to offer the best customer service or staying on top of inventory, consistently doing these things sets successful pharmacies apart from the rest. This challenge is all about building that consistency. We’ve created five rules that, if followed every day for
75 days, can significantly impact your pharmacy’s success. For this challenge, you need to accomplish the following rules every single day:
and creating a thriving environment for your team and customers. RULE NO. 1: POST A VIDEO ON SOCIAL MEDIA EVERY DAY. Let’s start with the first rule: Post a video on social media every day. You might be thinking, “I’m not comfortable on camera,” or “I don’t know what to post about.” But the beauty of this rule is that it’s flexible. Your video doesn’t have to feature your face — it could be a quick clip showing a product, explaining how to fill out a vaccine form, or highlighting a special promotion. The key is to get your pharmacy out there and keep your brand top of mind in your community.
1. Post a video on social media.
2. Offer an upsell with every transaction.
3. Every employee writes a
handwritten thank-you card for every shift they work.
4. Read 10 pages of a business book.
5. Share KPIs with an
accountability partner.
These rules aren’t just about business; they’re about becoming a better leader
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Master the Art of the Upsell How Upselling Daily Can Lead to Massive Success
Continuing our journey through the 75 Hard Challenge for Pharmacy Owners, we’re diving straight into Rule No. 2: Offer an upsell for every transaction. While it might sound simple, this rule is a game-changer for boosting profits and strengthening your team’s consistency in delivering exceptional customer service. UNDERSTAND THE POWER OF A SIMPLE UPSELL. Imagine this: If your pharmacy adds just $5 in extra profit to each transaction, you could be looking at a couple thousand dollars in additional profit by the end of the month. It’s not about pushing high-ticket items every time; it’s about creating a habit — both for your employees and your customers. The key is consistency, whether you’re recommending Chapstick, cough medicine, or a $100 supplement. This rule isn’t just about making more money; it’s about leadership. As a pharmacy owner, you’re not ringing up every transaction. The challenge lies in getting your team on board and ensuring they consistently offer that little something extra with each sale. This consistency can lead to significant results, not just in terms of revenue but also in enhancing the overall customer experience. TRAIN YOUR TEAM FOR SUCCESS. The success of this rule hinges on your ability to train your employees effectively. It’s about helping them develop a natural habit of asking customers if they need anything else. The upsell doesn’t have to be specific every time, but it should be something that makes sense, given the context of the purchase. For example, if a patient is picking up an antibiotic, your team should be trained to suggest a probiotic to go along with it. Alternatively, they could recommend something as simple as a popular fidget toy at the register. The goal is to make the
Check Out Our Guide On How To Train Your Staff
upsell feel like a natural part of the transaction, not a forced or awkward add-on. Our members have access to multiple resources to help train your staff and increase upsells. We offer cheat sheets and guidelines that suggest complementary products based on what the customer is already buying. With an average of 50–70 transactions a day, just a $5 upsell per transaction could translate into an extra $250 a day, which, over a five-day workweek, adds up to over $5,000 a month in additional profit. That’s a significant boost for just a small change in approach. CAPITALIZE ON THE SEASON. Now is the perfect time to implement this upsell strategy. As we move into cold and flu season, customers are already in the mindset of purchasing extra health-related items. They’re thinking about vitamins, hand sanitizers, and over-the-counter medicines. This seasonal demand provides the perfect opportunity to train your team to capitalize on what customers are already looking for, turning their needs into added revenue for your pharmacy. If you consistently offer upsells during this busy season, you’ll increase your profits and position your pharmacy as a go-to resource for health and wellness. Your customers will appreciate the thoughtful suggestions, and your team will gain confidence in their ability to boost sales through these small, consistent efforts. START STRATEGIZING AND GET STARTED. To help you and your team get started, we’ve made accessing resources to guide your upsell strategy easy. Simply scan the QR code provided to find out what to suggest and how to train your staff effectively. Once you do, you’re well on your way to mastering the art of the upsell, increasing your profits, and setting your pharmacy up for long-term success. So, are you ready to take on Rule No. 2 of the 75 Hard Challenge for Pharmacy Owners? With consistency, training, and the right resources, you’ll see just how impactful this simple rule can be for your business.
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Build Relationships One Thank-You Card at a Time Why a Handwritten Note Can Make All the Difference
Running a successful pharmacy is about more than filling prescriptions and managing inventory — it’s about building relationships with your patients. The third key rule of the 75 Hard Challenge for Pharmacy Owners focuses on doing just that by incorporating a simple yet powerful habit into your team’s daily routine: Every employee must write a handwritten thank-you card to a patient during every shift. HANDWRITTEN THANK-YOU CARDS MATTER. These days, receiving a handwritten note is rare. You always feel excited when you see a handwritten envelope in your mailbox. While it may be a small gesture, it can significantly impact your patients. When you take the time to thank a patient for their business personally, you’re not just acknowledging their purchase — you’re building a connection. This connection leads to loyalty, strengthens relationships, and turns your pharmacy into more than just a place to pick up medications; it becomes a trusted and valued part of your patients’ lives.
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TAKE A BREAK
AUTUMN BOO CANDY COFFEE FOLIAGE GHOST
GOURD MOON SPOOKY SOUP TAILGATE TOUCHDOWN
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From Pages to Practice TRANSFORM YOUR BUSINESS WITH THIS SIMPLE DAILY HABIT
The 75 Hard Challenge for Pharmacy Owners isn’t done just yet. You need to accomplish the fourth rule: Read 10 pages of a business book every day . It’s a simple task, but it can have a powerful influence on your growth and, by extension, the success of your pharmacy. WHY READ 10 PAGES A DAY? At first glance, 10 pages might not seem like much, but the goal here isn’t to read for entertainment — it’s to read with a purpose. The idea is to gradually build up knowledge to help you improve in areas where you may struggle or want to grow. When you consistently dedicate time to reading, you slowly accumulate wisdom and insights you can start applying in your daily operations.
nuisances but as opportunities for improvement and deeper customer relationships.
Interested in using YouTube to market your pharmacy? “The YouTube Formula” by Darrel Eaves provides a comprehensIve guide to building a successful YouTube channel to attract more customers and elevate your pharmacy’s brand. For those who want to refine their overall marketing strategy, Allan Dib’s “The 1-Page Marketing Plan” offers straightforward, actionable advice on creating an effective marketing plan without needing a large team or complex tools. DON’T JUST READ — APPLY WHAT YOU LEARN. The beauty of this rule is its simplicity. Reading 10 pages a day is manageable, even on your busiest days. But it’s not just about reading; it’s about what you do with the information. As you read, think about how you can apply the ideas to your business. Are there strategies that could improve how you manage your team or interact with patients? Can you implement new marketing tactics to increase your reach? You’ll gain knowledge and begin to see opportunities to put that knowledge into practice. Over time, these small changes can significantly improve your pharmacy’s operations and success. IMPART YOUR KNOWLEDGE TO YOUR TEAM. Another benefit of reading with purpose is that it allows you to share what you’ve learned with your team. Whether it’s a new approach to handling patient complaints or a fresh marketing strategy, you can pass on the insights you gain to your employees, helping to uplift the entire team. Your growth as a leader doesn’t just benefit you — it benefits everyone in your pharmacy. When you read to improve yourself, you’re also better equipped to mentor your employees, creating a more positive, productive work environment. Rule No. 4 of the 75 Hard Challenge might seem like a small step, but it can lead to lasting improvements. You’re investing in your own professional development and the success of your pharmacy. So, pick up a book and watch as those 10 pages a day transform your business one idea at a time.
CHOOSE BOOKS THAT ADDRESS YOUR WEAKNESSES.
The key to making this rule effective is choosing books that address specific weaknesses or challenges. For instance, if you feel your leadership skills could be refined, consider picking up a copy of “Boundaries” by Henry Cloud. This book offers valuable insights into setting healthy limits, which is crucial for effective leadership. If your pharmacy has been dealing with patient complaints, “A Complaint Is a Gift” by Janelle Barlow might be an excellent choice. This book teaches you how to view complaints not as
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EXPAND YOUR REACH
Building an Effective Email List
The digital marketing space is rapidly evolving. According to Statista, the American digital advertising market saw over $270 billion in revenue in 2023. A disproportionate amount — around 80% — of money spent on advertising goes toward digital rather than physical ads. Digital marketing is necessary to grab attention and grow your brand, but it can be expensive. Email marketing lists are a form of affordable digital marketing with considerable growth potential. Sending emails is always less costly than purchasing lots of digital ad space. Best of all, an email list helps build recurring customers and can be customized to your needs. The only tricky part is starting from zero. Here are some tips for creating an effective email list for your business. GROWING YOUR EMAIL LIST Pop-up forms and digital ads are two essential elements to building an email list. Pop-up forms are commonly used because they are effective and easy to set up. They also capture the visitor’s attention by giving them a prompt they must interact with to continue viewing the site. This is why a compelling call to action is crucial. Describe at least one important benefit to subscribing to your email list. This can incorporate FOMO (fear of missing out) on essential updates to your business and products or coupon codes, such as 10% off their first purchase when signing up. Also important is that you incorporate a 5-to-20-second delay before the pop-up form appears to ensure only interested viewers have the option of subscribing to the email list. If you want to maximize your results, minimize the barrier to entry. You should only require the absolute minimum of information, such as their name and email, to start. After a user signs up for your email list, send them a verification email. This helps to verify whether a customer is genuine and reminds them of what subscribing to your email list entails. Digital ads on Facebook are cost-effective and easily scaleable, making them a natural choice for those looking to build their email list. You can increase or decrease your digital ad presence as your business grows to match your needs and goals. You can decide when your email list is extensive enough and digital ads are no longer necessary, or you may even choose to expand your campaign if it is
successfully driving up the number of customers subscribing to your email list.
SEGMENTING AND MAINTAINING THE LIST Properly managing and utilizing your email list is just as crucial as building it up. Email lists can increase engagement and help you build and maintain relationships with your clients, especially when targeting your audience precisely. You can segment the customers on your email list based on their purchase history, interests, and demographics. This way, you can send personalized emails to different customer groups to maximize profitability and engagement. Importantly, you should also regularly remove inactive subscribers and non-functional or duplicate email addresses. This helps prevent the emails you send out from being falsely flagged as spam and becoming less visible to your audience. By utilizing these techniques, you can grow your email list from zero subscribers to thousands and benefit from increased customer engagement, recurring customers, and brand prominence.
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resilience, improve your leadership skills, and ultimately grow your pharmacy. This challenge isn’t just about making it to the end of the year; it’s about proving to yourself and your team that you can commit to something hard and see it through. And if you stumble along the way, remember, it’s okay to start over. The important thing is to keep going. I encourage you to take on this challenge with us. Scan the QR code to access our 75 Hard Challenge for Pharmacy Owners today! It’s not about being perfect — it’s about being consistent.
If you’re feeling stuck or unsure of what to post, don’t worry. We’re here to help. We’ve developed social media calendars specifically for our members, filled with topics to get you started. Whether you want to talk about the benefits of a particular supplement or walk through the vaccine process, you can always share something valuable. And remember, you don’t have to record these videos every day. You can batch them — record several videos in one go and schedule them to post throughout the week. The goal is to keep a steady stream of content flowing so your community sees you as a thought leader and trusted resource. WHAT’S NEXT? In this month’s newsletter, I’ll dive into the remaining rules of the 75 Hard Challenge for Pharmacy Owners. Every one is designed to push you a little further, helping you build mental
And that consistency, as simple as it sounds, is what will help you finish the year strong and set yourself up for even greater success in the future.
Check Out Our 75 Hard Challenge for Pharmacy Owners!
HAVE A LAUGH
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Finish Strong With Our Final Rule
ELEVATE YOUR PHARMACY’S GROWTH WITH SHARED KPIS
As we wrap up the 75 Hard Challenge for Pharmacy Owners, let’s dive into the final rule: Share Key Performance Indicators (KPIs) with an accountability partner every day . This might sound a bit daunting, but trust us, it’s easier — and more effective — than you might think. UNDERSTAND WHY SHARING KPIS MATTERS. Sharing KPIs with an accountability partner can seriously impact your pharmacy’s success. Whether it’s your pharmacy manager, a pharmacy-savvy spouse, or another pharmacy owner, having someone to hold you accountable keeps you focused and motivated. The idea is to monitor specific metrics daily so you’re constantly aware of how your business is performing. This awareness will naturally lead to better decision-making and improved results. WHO SHOULD BE YOUR ACCOUNTABILITY PARTNER? Choosing the right accountability partner is critical. It could be someone within your pharmacy, like a manager in the trenches with you. If your spouse works alongside you, they might be a great fit, too. Alternatively, you could connect with a fellow pharmacy owner who understands your unique challenges. But what if you’re uncomfortable sharing your numbers with someone in your circle? That’s okay. You can share them with us. We’re here to help, whether it’s through our daily 2 p.m. calls or via email. The important thing is that you’re tracking and sharing those numbers every day. WHAT KPIS SHOULD YOU TRACK? The KPIs you choose to track are entirely up to you. They could be related to the other rules of this challenge — like how many upsells you achieved or the percentage of thank-you cards your team completed. Or maybe you want to focus on something seasonal, like the number of flu shots administered each day. The key is to pick a metric that matters to your business and track it daily. It doesn’t have to be complicated. For example, if you’re focusing on upsells, you could track how much extra revenue was generated daily from those efforts. Or, if flu shots are your focus, keep a daily count of how many were administered. The goal is to keep these numbers in front of you and your team so everyone stays focused on what’s important.
STAY ACCOUNTABLE. Once you’ve chosen your KPIs and accountability partner, the next step is to report those numbers regularly. If you’re working with us, you can send an email with your KPIs at the end of each day. Or, if you prefer a more public approach, post your results in our community chat! Some people thrive under public pressure, while others prefer to keep things private. Either way, the act of reporting keeps you accountable and focused. Even if you’re not sharing publicly, simply writing down your KPIs daily can make a huge difference. Put them on a sticky note on your computer or keep a running log in a journal. The key is consistency. By paying attention to these numbers daily, you’ll start to notice patterns and areas for improvement, which can lead to significant changes in your pharmacy’s performance. PAYING ATTENTION IS POWERFUL. This final rule is about more than just numbers — it’s about creating a culture of accountability and continuous improvement in your pharmacy. So, pick your KPIs, choose your accountability partner, and start tracking today. You might be surprised at the positive changes that follow. Remember, the 75 Hard Challenge for Pharmacy Owners aims to help you build better habits, improve your leadership skills, and ultimately grow your business. So, let’s finish this challenge strong and see what extraordinary results we can achieve together.
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INSIDE THIS ISSUE
1
Are You Ready for the 75-Day Challenge for Pharmacy Owners? Why a Daily $5 Upsell Can Transform Your Bottom Line Turn Thank-You Cards Into a Powerful Pharmacy Practice 10 Pages a Day Could Be the Key to Your Pharmacy’s Growth
2
3
4
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Essential Tips for Building an Email List
The Impact of Daily KPI Tracking on Your Pharmacy
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KEEP IT SIMPLE. One of the best things about Rule No. 3 is its simplicity. The thank-you card doesn’t need to be elaborate. A short message expressing appreciation for their business is all it takes. Something as simple as, “ Thank you for choosing our pharmacy. We appreciate your trust and support, ” can go a long way. The key here is consistency. Whether an employee works two days a week or five, the idea is that every shift, they take a moment to write a thank-you card. That means you’ll have multiple thank-you cards sent out daily! Over time, this small act, done regularly, can significantly change how your patients perceive and engage with your pharmacy. ALL YOU NEED ARE COLORFUL ENVELOPES. To make your thank-you cards even more effective, consider using a simple logo card placed in a colorful envelope. Why
a colorful envelope? Because it stands out in the mailbox. When patients see a handwritten, colorful envelope, they’re almost guaranteed to open it. Inside, they’ll find a personal message that brings a bit of shock as they realize the extra effort your pharmacy took to show appreciation. This personal touch can be surprisingly delightful, setting your pharmacy apart from others and making your patients feel valued. TAKE THE NEXT STEP. If you’re ready to implement this practice in your pharmacy, start by making it easy for your team. Provide them with simple logo cards and colorful envelopes. Encourage them to take a moment during each shift to write a short, heartfelt note. Over time, you’ll likely see the positive effects of this simple habit. To make this process even smoother, we offer resources and templates to help you get started. Scan the QR code to check out our thank-you card program and see how this small act of kindness can lead to big changes in your pharmacy. Rule No. 3 of the 75 Hard Challenge will improve patient relationships and create a more connected and compassionate environment in your pharmacy. So, grab those cards, start writing, and watch the impact of your gratitude unfold.
Check Out Our Thank You Card Program!
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