Take control of your time in 2018
Improve your time management, improve your life and business
- Most small business owners feel overwhelmed by work and want more time.
- Studies show that people are more effective when they master time management.
- Staying organized allows for more achievement with less work.
Overwhelmed? You aren’t alone. One survey found:
Pharmacy owners can improve their revenues by offering medication synchronization, expanding immunizations or undertaking other initiatives. Despite having these solutions available, many pharmacy owners say, “I know I should be doing that, but I just don’t have the time.”
Mastering your time isn’t just a “nice to do.” Time management is imperative for your business and personal satisfaction. Consider these six facts:
- Your productivity affects your staff. Bosses who are more productive increase their team’s overall productivity. One study found that a team’s productivity increased more by replacing a low-performing manager with a high-performing one than by adding another team member.1
- Leading is more satisfying. Executives who devote more time to leadership activities are more satisfied with how they spend their time. Leaders determine the strategy and direction, make key decisions, manage and motivate employees, and work with external stakeholders, particularly customers.2
- Those who write down and share goals are more likely to accomplish them. An article on accomplishing New Year’s resolutions cites an important fact:3
The best goals are SMART goals
Goals lead to action if they are SMART
For example, instead of saying you will increase med sync enrollment, you might set a goal to add five new patients to your sync program each week for 12 weeks. That goal is specific, measurable, achievable, relevant and time-bound.
- Delegating pays. A study of fast-growing companies found that companies whose CEOs delegate responsibilities generate more revenue.4 Ask yourself, what could you delegate?
Tasks to delegate
Pharmacy technicians may be able to:
- Input data
- Prepackage and dispense medications
- Operate automated dispensing equipment
- Support medication synchronization programs
- Assist with preparation, documentation and billing of expanded services
- Maintain inventory
- Workflow efficiencies make dramatic change. Pharmacists who have implemented med sync systems say that filling 600 prescriptions can feel like 150. The lesson: analyze how long tasks in your pharmacy take and develop systems to do them more efficiently. Ask techs for their ideas. Technology and workflow management will allow your pharmacy to do more business without hiring more staff, and will free you to focus on new business.
- You need a break. Research shows you can’t work at full capacity all the time. Your brain can focus for only about 90 minutes and then needs to recharge.5
All pharmacy owners struggle with not having enough time. What makes some more successful is how they manage the time they have.
To improve your time management in 2018, set your goals, schedule what’s most important and delegate. Then, you will find you are working more efficiently and ultimately attaining more success.