Advancing The Profession of Pharmacy

7 Steps to Validating Your Business Idea: Step 7

by | Aug 3, 2016 | MTM Entrepreneurship

This post contains some affiliate links. Some referral links may also benefit the referred as well as the referree. You may contact me for more information about referral links, as always, I only recommend products that I actually use.

Congratulations on making it through the first 6 steps of validating your business idea!

Now the next question to ask yourself is:

Could I market my services to a broader patient population using the internet?

For certain business ideas, the answer could be yes.  For others, the first 6 steps will be validation enough for whether or not your idea could lead to a successful business.

Like we talked about in Step 6 on using keyword research, the internet can be a powerful platform.  It doesn’t happen overnight, but it can be an option for building a profitable online business.

7.  Use the Internet to Go Global
The internet can be a very powerful business building tool.  If your niche is selling an online product like a virtual diabetic support group, you can use online tools like Zoom (my affiliate link-I use Pro plan) to offer a personalized coaching experience.

Take the example of the Thyroid Pharmacist, Izabella Wentz.  She is now helping patients all over the world take control of thyroid disease through her books, e-course and internet community.

If you are so inclined, you could even create an online e-course like the one I offer at PharmpreneurAcademy.com  An online course creates income for you in a way that helps people learn and grow on their own time.  Validate your online course idea by searching an e-course hosting website like Udemy.  Determine whether there are others out there offering the same type of services; if there are, it is a good sign.  It means there is a market for that type of service.

Another option is becoming a consultant in a certain market.  If you have business savvy you could be a business or financial coach.  If nutrition and health is your think, start an online health coaching program.

Remember, whatever you do you have to ADD VALUE to people’s lives no matter what business you are in.

For the love of all please DO NOT PUT UP A WEBSITE AND EXPECT TRAFFIC (go back and review Step 6 for my rant on websites).

Even if there is not an easily identifiable market, don’t be discouraged.  Do your due diligence and follow these seven steps for validating your business idea.

If you get stuck, I welcome you to join the Pharmapreneur Academy and gain access to information like this and much more in my business coaching program.

Now that you have a few ideas about how you can validate your business idea, will you take action and build your Dream Career?

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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