In the world of pharmacy leadership, the ability to navigate risks effectively is a crucial skill. Just like a ship captain charts a course through treacherous waters, pharmacy leaders must steer their teams and organizations through potential pitfalls.
Selling a pharmacy is a big life event, and it will impact your financial and emotional well-being for a long time to come. It is not a decision to be taken lightly, no matter how flattered you might be. So, if a buyer comes calling, step back and take a breath. Let the first flush of emotion pass.
Like many pharmacy manager-owners, I have conducted a few interviews in my time. Some were highly collaborative and resulted in all-stars still working strongly with us today. Other résumés turned into napkins or scrap paper.
Selling a pharmacy can be a complicated, even daunting process. Legalese and accounting terms can get thrown around like spaghetti in a food fight, and even the most business-savvy pharmacist-owners can sometimes feel like they are caught in a tempest over which they have little control.
Many pharmacists are highly sensitive to risk. I would actually go so far as to say that pharmacists are largely risk averse. And for good reason. We hold people’s lives in our hands. If you have ever made a dispensing error, it sticks with you.
In writing about the anecdotes and lessons offered by managing people, the business and the profession, I found seven recurrent themes, which I called the seven dimensions of the ideal pharmacy leader.
Over the years, I have had the privilege of addressing thousands of pharmacists and pharmacy students. While I have not shared this story for quite a while, I believe it is fitting for our consideration of courage.