NCPA/BRS Profit Mastery Workshops
» Beyond Survival: Seven Steps to Fiscal Fitness
» Break-even Analysis: The Absolute Best Tool to Manage
Your Pharmacy's Profitability
» Aspiring Owners And Inspired Sellers: "Buying Right"
And "Selling Right" Are Not Mutually Exclusive>
» Schedule of Programs 
Beyond Survival: Seven Steps to Fiscal Fitness
Starting and managing a business is always a challenge - given the failure rate of 50-70% in the first four years. The economic volatility of the last few years has only increased that challenge.
The "good-old-days" methods of "seat-of-the-pants" management and "gut instinct" decision making just don't cut it in today's market. Nor do they make a big impression with today's bankers. Margins are lower, markets fluctuate, the competition can be intense and there are sometimes factors outside your immediate control. Crucial decisions such as where to expand or cut back must be made right the first time—with no room for error.
Yet, today's uncertain economy can offer tremendous opportunity for those able to make disciplined financial decisions. The successful entrepreneur recognizes the need to adapt to changing markets and economic conditions. This program provides an unprecedented opportunity to learn how to deal with the challenges of managing your pharmacy in today's economy.
The real challenge is to chart a course that addresses a company's short-term needs - operations, finance, marketing, and staffing—without penalizing opportunity in the long run.
If vision is the quality that will separate the survivors in these difficult times, this program will provide the focus to clarify that vision and evaluate the issues.
Break-even Analysis: The Absolute Best Tool to Manage Your Pharmacy's Profitability
Pharmacy owners are facing numerous challenges—increased competition, narrowing margins, a sluggish economy and a barrage of third-party reimbursement plans. Clearly, financial success requires more than simply "showing up". In this program, we'll review—with a "back to the basics" emphasis—the key areas of financial management that are critical for business owners and managers. We'll then specifically focus on break-even analysis, considered by many to be the most strategic planning tool available to business owners today. It should be used to evaluate the impact of nearly every business decision made.
As a pharmacy owner or manager, one of your key responsibilities is managing the financial side of the company. Managing expenses, controlling costs and achieving profit targets is paramount to the success of the business. Break-even analysis is the tool that will help you gauge the results of changes in cost and pricing. Using break-even to analyze the present will allow you to make better decisions about the future.
If you have questions such as:
The extended version of this program is designed to give participants the tools needed to increase profitability by understanding third party costs and payment plans, by improving third party strategic remuneration and cost management skills, and by analyzing the present types of payment—private and third party—to make better decisions about the future. By gaining a more detailed understanding of third financial behavior, pharmacy owners and managers will be better equipped to evaluate the impact of strategic decisions on the profitability of their companies.
Break-even analysis is the power-tool to make short work of these questions. Learn to master the most practical financial tool available to pharmacy owners and managers today.
Aspiring Owners And Inspired Sellers: "Buying Right" And "Selling Right" Are Not Mutually Exclusive
Aspiring Owners want to know how to create value in their businesses, and Inspired Sellers want to cash in on the value they've created. In this session we'll outline a strategy to begin building value in your business TODAY to best prepare for the transition down the line. Participants will learn how potential buyers will value their business tomorrow, what business decisions will affect that value, what valuation methods are most frequently applied and how the concepts of "worth" and "value" relate to their business. The right time for the independent pharmacy owner to begin focusing on building value in their business is right now!