Pharmpreneur of the week Ali Reyhany: “Being an entrepreneur can sometimes be lonely.”

Snapshot

Education:

University of Toronto

BASc Pharmacy

Role/Title:

Co-founder and CEO of carepharmacies.ca, group of 60+ stores in six provinces. 

Co-founder and chair of Mednow.ca virtual pharmacy 

Co-founder of Debwe Consulting. First Nation social project pharmacy 

What excites you about being an entrepreneur?

I'm excited about being an entrepreneur because it gives me freedom, and I can make a positive impact on many people's lives.

How has your entrepreneurial career evolved since your graduation?

After I graduated, I left my job at a big pharmacy company and bought my first pharmacy within three months. I didn't know much about running a business at the time, but I learned a lot through experience over the next 17 years. I learned about managing risks and partnerships, and I realized that sticking to my moral values leads to long-term success.

What was your key driving force to become an entrepreneur?

I became an entrepreneur because I wanted freedom to work and live on my own terms.

How do you define success?

Success means enjoying your work, feeling like it's a privilege rather than a chore. It's about enjoying what you do, having the freedom to live life on your terms, helping others, and maintaining a balance between family, health, and work.

As a successful entrepreneur, what continues to drive you?

What keeps me going as an entrepreneur is the thrill of the game and the desire to win.

What are the biggest challenges of being an entrepreneur?

Being an entrepreneur can sometimes be lonely, and there's a lot of pressure because many people depend on you. You want to do right by your partners, investors, employees, and family. The workload and tough situations can be stressful, which might not be the case if you didn't start the business.

How do you manage work/life balance?

I make sure to set aside dedicated time for my family, health, and relaxation. The whole point of having freedom is to actually enjoy it.

What books/resources do you recommend for every entrepreneur to check out?

There are many great books and lessons to learn. Some books I read before I became an entrepreneur were "Before You Quit Your Job" and autobiographies of successful entrepreneurs. But most importantly, I suggest connecting with mentors in your field and seeking their advice. Don't be too proud or shy to ask for guidance.

What advice would you give to colleagues who want to become entrepreneurs?

First, understand yourself and what's important to you. Entrepreneurship is tough but can bring many rewards. Decide whether you value freedom or security more. If you choose freedom, know that there are no guarantees, and you should enjoy the journey as much as the end result. Success is an ongoing journey, not just a destination, so savour every step of it.

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