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Money, the game … with seven simple steps to win it
With the possible exception of what the Treasury Department turns out, MONEY Master the Game – Tony Robbins’ new book – may be the most valuable stuff in print. It’s absolutely jammed with advice you can take all the way to the bank. Tony boils his message down to “seven simple steps to financial freedom.”…
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Health Out of Pocket Costs Will Impact Pharmacy
The following information was recently released by the AIHW which is showing a trend for government spending to remain a constant while private expenditure is trending upwards. “Total expenditure on health was estimated at $154.6 billion in 2013–14, up by 3.1% on 2012–13 in real terms. Growth in expenditure per person was $6,639, which was…
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Why Large Pharmacies Must Develop
Traditionally, when pharmacists reach a mature point in their business and practice development, they have looked to increase their success by adding a new pharmacy to their collection. And sometimes more than two pharmacies, expanding to the legal limit of five or six (or even more using creative investment practices). While the gross profit capacity…
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Do You Have Disaster Recovery Plan For Your Business?
Most business owners are optimists! That is why they went into business in the first place. However, being optimists, many business owners don’t consider the risks that can threaten the very existence of their business, and as such, their own and their employees’ financial well being. The purpose of this blog post is to get…
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2015-16 Budget Summary – How it May Affect You!
On 12th May 2015 the Federal Budget was delivered. Although there is much water to pass under the bridge until any legislation is passed, there are a number of taxation proposals that if legislated, will benefit you over the coming years. That said, the majority of the proposed changes will only affect those businesses whose…
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The Global Trend in Working Environments: Co-working & Retail Clinics
I2P has been researching the concept of a “freelance” clinical pharmacist for some years now. As we are normally about 5-10 years projected in our “over-the-horizon” thinking, it is not surprising that the trend has not yet become fully obvious within the pharmacy profession. Pharmacy culture is only just transitioning from a dispensary presentation to…
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The Pharmore Demise – a Wake Up Call for All of Pharmacy
One of the saddest aspects of the shakeout that has been occurring in pharmacy over the past 18 months is that a new wave of businesses who have been treading water for that period, are now starting to go under water. One such company is Pharmore, a pharmacy marketing and management service entity that has…
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Failure – Avoid or Embrace?
Failure is something that most people try to avoid. This is perfectly natural as no one likes to admit failure – particularly if that failure results in the collapse of a business and the impact that has on the owners, team members, suppliers and customers! However, the fear of failure also has the effect of…
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On The Other Side Of Christmas
Many pharmacies rely on Christmas trading to fill revenue gaps that may have occurred over the year. December turnover in pharmacy usually is around 50% above the average of the preceding 11 months and often requires taking high risk. That risk is getting higher with discount pharmacies continually expanding their market share. Also, Internet retailers…