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How to Write a Mission and Vision Statement for Your Pharmacy Business

How to Write a Pharmacy Business Plan and Mission and Vision Statement by Elements magazine | pbahealth.com


December 5, 2019


Inside: Create vision and mission statements for your pharmacy business that motivate employees and attract patients. 

A well-written vision statement and mission statement can prove to be powerful motivators for you and your employees. They create a sense of shared purpose and empower staff to do their best.

They are also a good way to communicate to your patients what your pharmacy is all about, and why your store is the best place for them to fill their prescriptions. These statements are essential for creating a business plan, which guides your decisions and helps you apply for financing.

A vision statement and mission statement aren’t interchangeable—your pharmacy should have both. Read on to learn how to craft a top-notch vision and mission statement for your independent pharmacy.


 

What Is a Vision Statement?

A vision statement is a distillation of your pharmacy’s values and objectives. It should be no more than one or two sentences and stay the same throughout the life of your pharmacy.

A vision statement is not a concrete list of things you need to do to achieve your pharmacy’s goals, but it should be a guiding light as your pharmacy grows and changes. As you encounter new challenges, you should be able to use your vision statement as a compass to navigate with.

Think to the future

Starbucks’ vision statement is “to establish Starbucks as the premier purveyor of the finest coffee in the world while maintaining our uncompromising principles while we grow.”

This statement fully embraces the coffee chain’s long-term goal of growth, but it doesn’t get too explicit by stating that they want to open X number of coffee shops in 10 years.

If your pharmacy is growth-minded like Starbucks, that’s a sentiment that you should include in your vision statement. If you have no intention of expanding beyond one location, think about your other long-term goals.

You may want to become a healthcare destination in your community or become a hub for niche services. Your vision statement is the place to verbalize those goals.

Encompass company values

The eyeglasses company Warby Parker’s vision statement says, We believe that buying glasses should be easy and fun.” 

Since the company has developed a reputation for funky frames delivered conveniently to the homes of their customers, they’ve done well to maintain the spirit of their vision statement.

Identify which values are the most important to your independent pharmacy. They might include:

 

Whatever values you think are most important to the operation of your pharmacy should get a mention in your vision statement.

Inspiring

The Swedish furniture giant IKEA’s vision statement is, To create a better everyday life for many people.” 

It’s simple, but it sends a message to its customers, and more importantly, to its employees.

As a manager, a vision statement is a tool you can use to boost morale and bring your staff together. Working to make life better for customers is a task that IKEA’s employees can feel good about.

Having a positive, inspiring vision will help your pharmacy staff be more invested in their jobs and in the success of the pharmacy as a whole.


 

What Is a Mission Statement?

A mission statement is a summary of your pharmacy and its goals. A good mission statement is no longer than 100 words, or around three or four sentences. Like your vision statement, your mission statement should be timeless.

While your vision statement is more general, a mission statement should give a sense of action and provide a roadmap for pharmacy owners and employees.

When writing your mission statement, you should be answering the “W” questions: Who, What, and Why?

What you do

This may seem like a simple answer, but your mission statement should dive past the surface level.

In addition to what you do, you should also think about how you do it. Do you have a flair for customer service? Are you able to serve your patients with little to no wait time? Do you guarantee low prices?

Think about the values you established while writing your vision statement—in your mission statement, you can expand upon how you implement them in the pharmacy.

Even though Google Search is a complex product, the company does a great job of explaining what the service does in its mission statement:

“People around the world turn to Search to find information, learn about topics of interest, and make important decisions. We know people rely on us so our commitment will never waver. As technology evolves, we will continue to help everyone find the information they’re looking for.”

Who you are doing it for

Take a moment to think about your patients. In your mission statement, you can reflect on how your pharmacy makes their lives better. You provide them convenient access to healthcare and improve their quality of life. That service should be encapsulated in your mission statement.

But your patients are not the only people who interact with your pharmacy. As a small business, you’re an economic engine of your community, and in your mission statement, you can also pay homage to the staff members that keep the pharmacy running.

Southwest Airline’s mission statement makes a commitment to its customers and its employees:

“The mission of Southwest Airlines is dedication to the highest quality of customer service delivered with a sense of warmth, friendliness, individual pride, and company spirit.

We are committed to providing our employees a stable work environment with equal opportunity for learning and personal growth. Creativity and innovation are encouraged for improving the effectiveness of Southwest Airlines. Above all, employees will be provided the same concern, respect, and caring attitude within the organization that they are expected to share externally with every Southwest customer.”

Why your pharmacy is unique

As an independent pharmacy, you face fierce competition from large chains. In your mission statement, you have a chance to explain what makes your pharmacy different from the CVSs and Walgreens of the world.

Define the value-add your patients receive by shopping at your pharmacy instead of a chain: a personal touch, a sense of community, or a stronger local economy.

Sweetgreen does an excellent job differentiating itself from all the other fast-casual dining options in its mission statement:

“Our mission is to inspire healthier communities by connecting people to real food. We know that Sweetgreen is a critical link between growers and consumers, and we feel a responsibility to protect the future of real food. To that end, we’re committed to supporting small and mid-size growers who are farming sustainably, to creating transparency around what’s in your food and where it came from, and to creating more accessibility to healthy, real food for more people.


 

Implement Your Vision and Mission

After you’ve finished drafting both statements, edit them to take out any buzzwords that might not stand the test of time.

When they are both polished and ready, don’t just stick them in your business plan and forget about them; use them. 

Display them on your website, teach them to your new employees, and use them to make decisions as your pharmacy grows. Your pharmacy should strive to practice what they preach and use vision and statements as guideposts for the future.


 

These Are the Most Important Pharmacy Metrics to Measure

This white paper includes 30+ formulas to calculate the most important metrics for independent pharmacies. You’ll learn to think like a retailer, discover the methods to track and measure meaningful pharmacy metrics, and learn ways to use pharmacy metrics to get insight into business performance.

Get the free white paper. 

 


 

An Independently Owned Organization Serving Independent Pharmacies

PBA Health is dedicated to helping independent pharmacies reach their full potential on the buy side of their business. The company is a member-owned organization that serves independent pharmacies with group purchasing services, expert contract negotiations, proprietary purchasing tools, distribution services, and more.

PBA Health, an HDA member, operates its own VAWD-certified warehouse with more than 6,000 SKUs, including brands, generics, narcotics CII-CV, cold-storage products, and over-the-counter (OTC) products.


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