Advancing The Profession of Pharmacy

7 Steps to Validating Your Business Idea: Step 3

by | Jul 7, 2016 | Consulting Pharmacist Education

​After Following Your Curiosity and Zeroing in on Your Niche, you can move on to Step 3 of validating your business idea.

In this step, you will be doing research on the people that make up your niche market.  You will develop a set of questions that will help you to determine their biggest problems, their wants/needs/goals, and even help you establish a pricing structure for your services.

For example) You want to help overweight diabetics manage their A1Cs without adding more medication.  Ways to accomplish that could include a.) nutritional counselling  b.) natural, homeopathic remedies c.) personalized exercise regimens and the list goes on and on.

My point is, until you actually talk to your customers and they choose an option, don’t be so sure a, b, or c is what they want…or more importantly what they are will to pay you for.

So how do you get that information?

3. “Interview” Potential Customers
Customer development interviews can help you pinpoint your niche.  For instance, if you are interested in developing diabetic support programs, you would interview diabetic patients.

In your interviews, try to identify the customer’s biggest issue or “pain point”.  Ask what they would find valuable in such a program.  Use these interviews to validate the assumptions you have about your patients and their motivations.

Survey Monkey, Typeform or Google Forms are also an easy way to poll potential customers if you have an online presence.  You can also test multiple price points or packages to see what the majority of customers would be interested in.

Check out one of my recent Customer Survey Google Forms and receive a DOWNLOADABLE TEMPLATE to use to for your business surveys!

Pro Sales Tip: During these customer interviews you can “pre-sell” your program to see if the target audience would be willing to pay for the service!

If you are ready to explore your curiosity about entrepreneurship and want to build a pharmacy consulting business of your own, I invite you to the join the E-course and Community at PharmapreneurAcademy.com   In the self paced video E-course Lessons, I will guide you through the steps you need to build and market your business quickly and help you to side-step any roadblocks that you encounter on your journey.  In the Forum, I provide group coaching and answer your individual questions.  The Community is a place to find support and inspiration for building your Dream Career.

Still exploring?  Listen to my latest Pharmacy Podcast episode with Pharmapreneur Academy member Paula Belle and hear how she built her consulting business from one client to eight and counting!

And when you are ready to join, just go to Pharmapreneur Academy, sign up and get INSTANT access to all 7 Lessons and check out all the great discussions in The Academy Forum.

About the Author

Blair Thielemier, PharmD, is an MTM consultant pharmacist specializing in pharmacy billing models. She consults on and produces e-learning programs for state and national organizations, pharmacy wholesalers, payers, technology start-ups. She has books and online courses available for individuals looking to leverage their pharmacy knowledge into monetized clinical programs at PharmapreneurAcademy.com. She speaks internationally about trends in leveraging pharmacists to improve value-based care.

 

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