Advancing The Profession of Pharmacy

How would an extra $1,500 a month change your life?

by | Dec 27, 2018 | Consulting Pharmacist Education

What would your life look like if your “side hustle” was earning you an additional $1,500 a month?

What would you do with it? 

Pay off your students loans faster, save it in your retirement, spend it on a new home, reinvest it into the business, take that Bucket List Trip in 2019…

Now imagine:

What if your business started earning $15,000 a month?

$150,000 a month?

It sounded crazy to me at first too, but I have plenty of entrepreneurial friends for whom this is a reality.

That is the beauty of building your own business.  There’s

no limit to your earning potential.

This simply isn’t the case in 99.9% of “normal jobs”.

When you build a business, especially one that doesn’t require your direct involvement, you’re no longer trading your time for money.

Entrepreneurs can leverage their time to exponentially increase their income.

 

And so can you!

Not saying this isn’t a LOT of WORK.

The time you’ll spend on the front end of building your business will probably take longer and require more investment of your time and money than an employed position.

I’ve heard this called front-loading the sacrifice.

The author,

Doc Green of DiverseFi, was relating it to savings and investing, but I’m relating it to building a business.

  • Whatever your goal revenue is, do you know how many sales you have to make to get to that number?
  • Have you sat down and dismantled your sales into a tangible step-by-step goals?

I recently wrote about the Types of Consulting Businesses a Pharmacist Can Build.

 

For example, say your goal is to build your health coaching business for women trying to conceive…

There are some steps I recommend to go through BEFORE you ever start marketing yourself to potential clients.

The 12 week goal-setting process:

  1. Set a goal based on your Big Annual Goal (learn how to create yours in our “Planning Like a Pharmapreneur: Business Development Workshop”)
  2. Ask yourself what will achieving this goal MEAN to you?
  3. Break the project down into QUARTERLY STRATEGIC OBJECTIVES
  4. Assign MONTHLY METRICS that directly relate to your Big Annual Goal
  5. Now take your STRATEGIC OBJECTIVES and assign them specific WEEKLY ACTION STEPS for each objectives
  6. Plan out your next 12 weeks according to your Big Annual Goal, Quarterly Strategic Objectives, Monthly Metrics and Weekly Action Steps

Want my full training on this process?  Join the Pharmapreneur Academy today and get INSTANT ACCESS!

Imagine your Big Annual Goal is to make $25,000 in your new consulting business.

Prioritize the TOP 3 Quarterly Objectives that you think will get you to that number.

Break your Big Annual Revenue Goal into Monthly Metrics.
ex) $25,000/12 months = $2083/month

Each week, you know you have an extra 8 hours in which you can see these clients.

Now, base your services around that number.
ex) $2083/8 hours = $260/hour

Perfect!

Now do you want to see one client 4 times per month?  2 times per month?  1 time per month?

This is will give you an idea of how many clients you are looking for and what packages you’d like to offer them.

 

The example we’re using for this consulting business scenario is with women trying to conceive, so lets continue with it.

It would make sense to see this client twice a month, during specific times in their cycle.

So you’ll need to sign up 4 clients for say 6 months at a time.  Thats 8 clients total for the year.

Sounds doable right!

 

Now, the million-dollar question, how do you GET SOMEONE TO HIRE YOU to do this?

That is exactly what I will walk you through step-by-step in the How to Build a Pharmacy Consulting Business e-Course.

Lesson 12 goes through an advanced training on building a cash-based service business.

LESSON 12 – Cash-Based Services – Online and Off

  • Pros and cons of cash-based services
  • Niches for cash-based services – In-person community setting
    • Diabetes
      • National Diabetes Prevention Program
      • Diabetes Self Management Training
      • Medical Nutrition Therapy
    • Genetic Testing
      • Nutrigenomic testing
        • Complimentary supplements
        • Examples of genes tested
      • Pharmacogenomic testing
        • Examples of genes tested
    • Point of Care Testing
      • See Lesson 9 for more information
    • Health Coaching/Functional Medicine
      • Weight management
      • Antiaging/fatigue/sleep
      • Gene or drug-induced nutrient depletion
    • Hormone Support Services
      • ​BHRT, Testosterone, Trying to Conceive
    • Travel consult services
    • Food sensitivity testing
      • Guided elimination diets
  • Delivering virtual services
    • Scope of practice considerations
    • Opportunities
    • Telehealth
      • definition
    • Remote Patient Monitoring
  • Pricing and Positioning of Cash Based Services
  • Branding    
    • Personal brand vs. Company brand
  • Building a website for virtual services
  • Marketing tips for your cash-based services



We’ll also be hosting a special January Members Only Q&A Call on Sales Training called “Warming Up the Cold Call” with The Sales Maven Nikki Rousch.

 

Of course, you can figure this out on your own, but remember your 12 week goal?

Investing in a program like the Pharmapreneur Academy will saves you dozens of hours, maybe even months of wasted time, money and energy.

The Academy will give you exactly what you need and steer you away from spending resources on the things you don’t.

The e-Course is open again now, but only for a short time.

If you want to save time, money and make progress on changing your life with that extra money each month, join us in the Academy and start your “side hustle” today.

What would YOU do with an extra $1,500 each month?

Join our next live webinar “Whats Working in Consulting for 2019” by clicking here to register!

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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