YFP 117: Three Bold Predictions for the Future of Pharmacy


Three Bold Predictions for the Future of Pharmacy

Blair Thielemier, PharmD, founder of BT Pharmacy Consulting and creator of the Pharmapreneur Academy, joins Tim Ulbrich on this week’s podcast episode. Blair shares about how she unexpectedly lost her full-time job as a clinical hospital pharmacist when she was 6 months pregnant, how she dove into entrepreneurship with MTM consulting, and her three bold predictions for the future of pharmacy practice.

About Today’s Guest

After graduating with her Doctor of Pharmacy from the University of Arkansas for the Medical Sciences in 2011, Blair unexpectedly lost her full-time income as a clinical hospital pharmacist in 2014. She was asked to serve as an independent Medication Therapy Management Consultant Pharmacist, a niche position that was entirely new to her at the time but would be instrumental to her future success and entrepreneurial journey. For the past three years, Blair has been focusing on elevating the profession of pharmacy through advanced clinical services. In 2015, she founded a pharmacy consulting business BT Pharmacy Consulting, LLC and currently trains and coaches other pharmacists looking to start their own consulting businesses through an online e-course and membership site at the PharmapreneurAcademy.com. In April 2017, she launched the first online pharmacy conference in the industry. In 2018, based on the success of the first summit, she hosted a five day encore event in partnership with the National Community Pharmacists Association’s Innovation Center. The Elevate Pharmacy Virtual Summit featured pharmacists of various backgrounds practicing pharmacy at the peak of the profession. She is also the author of the Amazon bestselling book How to Build a Pharmacy Consulting Business.

Summary

Blair Thielemier, founder of BT Pharmacy Consulting and the creator of the Pharmapreneur Academy, joins Tim Ulbrich to discuss her three bold predictions for the future of pharmacy practice.

First, Blair shares how she lost her full-time job as a clinical hospital pharmacist in 2014 when she was 6 months pregnant. She describes that she felt disillusioned when she was working as a clinical pharmacist; she didn’t love her job but was terrified to lose it. Now that she had, she didn’t know where to turn. She started working with independent community pharmacists and fell in love with doing MTM. In 2015, she built BT Pharmacy Consulting, a MTM consulting business that works with independent community pharmacies that are doing MTM programs and helping get clinical programs set up. Blair enjoyed it and wanted to grow the business.

Blair says that pharmacists are experiencing a “career climate change” and sees that the job market is shrinking or is becoming saturated, there are more graduates coming into the workforce, older pharmacists are being pushed out due to ageism or because of their high salaries, and new graduates are forced to take lower paying jobs because they have no choice. She explains that pharmacy is currently a product centric business which is a commodity. She says that what isn’t a commodity is the drug knowledge and skills that pharmacists have. Blair explains that pharmacy needs to shift to a service centric system and has to be rebranded. The questions pharmacists need to ask themselves are, “How can we add value? What do patients want? How can I leverage what I know and create programs people want?”

Blair then dives into her three bold predictions for the future of pharmacy. Her first prediction is that dispensing of medication and the distribution process have a high likelihood of becoming automated. She says that instead of fighting this, new revenue streams need to be added like services. She also explains that pharmacists can shift away from dispensing medications and that there are opportunities in preventative medicine.

Her second prediction is a shift to an appointment based model. Blair shares that innovative community pharmacists are already doing this, but her vision is that pharmacists can help counsel on health, wellness and prevention.

Blair’s third prediction is that pharmacists will be embedded in every primary care setting. She explains that primary care physicians have issues with medication related quality metrics that pharmacists can help with, such as medicine reconciliation, pharmacogenetic tests, and creating aligned programs.

Blair then discusses her Business Blueprint in the Pharmapreneur Academy that teaches the places pharmacy entrepreneurs can make the biggest impact, identify pain points and learn how to start conversations. There are modules for narrowing opportunities for pharmacists to three pathways: physician/office, pharmacy/clinical and patient pay.

Mentioned on the Show

Mentioned on the Show

Tim Ulbrich: Hey, what’s up, everybody? And welcome, as I have a special guest with me today, Dr. Blair Thielemier, who you may have heard from before on the podcast, episodes 039 and 089. We’re going to have her share some of her story for those of you that may not be familiar with her work. But we’re also going to spend most of our time talking about her bold predictions for the future of pharmacy practice. Obviously, a timely topic as we’ll outline here in a few moments. She’s got some great ideas about where we’re heading as a profession into the future, so much so that she was hosting a webinar recently on this topic and as we’ve found out, it’s not just Ralph that breaks the Internet, it’s also Dr. Blair Thielemier that breaks the Internet. So Blair, how are you doing?

Blair Thielemier: Doing well, yes. That was a blessing and a curse, I guess.

Tim Ulbrich: It was the first thing I thought of when you sent out some of those messages about, we had over 1,100 people register and we literally broke the Internet. My boys love “Ralph Breaks the Internet” movie, but certainly obviously I think that shows the importance of this topic, and it’s something that we need to continue having a conversation about as a profession in terms of what are some of the challenges that we’re facing as a profession but also what is some of the innovation that’s happening in the profession? With any challenge comes opportunity for innovation, for entrepreneurship, and I think certainly this is the case for us here in 2019, and so we’re going to talk about your bold predictions and then also what people can begin to do to think about how they can put themselves on the path towards being a part of that innovation. So why don’t we start, again, you’ve been on the podcast before, episodes 039 and 089, so we’ve talked a little bit about your journey, the Pharmapreneur Academy, but some listening may not know that story in terms of how you got started in pharmacy but then also how you jumped into starting your own consulting firm and then the academy. So why don’t you take us through some of that.

Blair Thielemier: Yeah, so I was one of those people — we’ve been hearing about Walmart cuts, we’ve been hearing about Walgreens closing — I was one of those people that my position was eliminated. And this happened back in 2014, so this was awhile ago. I was about six months pregnant with my daughter at the time, and I got the news: “Mrs. Thielemier, we regret to inform you that your position is being eliminated. All your benefits are being removed, and you’re cut back to peer in status.” So you know, at that time, being six months pregnant, I was like, “Oh my goodness, what am I going to do?” And I was really disillusioned. It was like one of those things that I talked about on the call last night was as much as I didn’t really love my job and what I was doing, I was still terrified of losing it. And I think a lot of us can relate to that too. It’s like even if you’re lucky enough to have a position right now, you may not be feeling fulfilled, you may not be 100% satisfied. But then also you’re scared of what’s on the other side of that. So I was forced into entrepreneurship. I didn’t go willingly. What happened afterwards, though, it definitely changed my life because I started working with these independent community pharmacies and then in 2015, I built this MTM consulting business where I was going out, working with independent community pharmacies, doing their MTM programs and helping them get set up with clinical programs. I enjoyed that so much that I said, “This is going to be something I want to do. I want to grow this business. How do I do that?” And that’s where this really led me to this billable pharmacist services. What are the opportunities that we have for building innovative programs leveraging our existing clinical skills, so that really led me to MTM consulting and eventually billable pharmacy services in the ambulatory care setting as well.

Tim Ulbrich: And so we’ll talk later on about your academy as I certainly think that’s a great example of a community that is really being innovative in their approach and that you’re really fostering that innovation and sharing of ideas as people I would say kind of moving this next evolution of our profession. And while you were kind of forced into it, I think there’s many that are listening right now or certainly I’m sure many that were on your webinar as well that are finding themselves maybe in a position of I haven’t had my hours cut, I haven’t lost my job, but I feel this itch — right? I mean, it’s called the entrepreneurial itch — I feel this itch to do something different or to supplement what I’m doing or I really see this problem that could be solved, and I really feel like I have a solution, but I don’t necessarily know where to start. I don’t know what it looks like and I’m scared and all of those questions that come from that. And we’ll talk about those here in a few minutes. One of the things I love — and I’ve shared this with you before, I’ve shared with others, and I have a lot of respect for the work that you’re doing — is I think there’s so much negativity right now in the profession. And what I love about your approach is that I think you are honest with what the data says. I mean, if we look at the data around the market and in terms of where we’re at with jobs and the reality of some positions getting cut and others losing hours, I mean, those are facts, right? And we’re certainly seeing new graduates that are struggling in some areas, but with you, the conversation doesn’t stop there. And that’s what I’m excited about here today is that it’s about, OK, so what are we going to do about it? How can you as a pharmacist potentially reinvent yourself, re-pioneer the work that you’re doing, what’s the skill set that you’ve been given, what are the opportunities that area head? And as you and I both know, when it comes to any great movement, idea, or business, it always comes down to solving a problem and in finding a solution and a solution that is one that people care about. And I think as we look at some of the challenges we’re facing today in terms of the dispensing process and automation and PBMs and all these things, two ways of looking at that. One is certainly it presents a problem; the other is there’s great opportunity for innovation. So what do you make of the climate today? I mean, just to rattle off some of the facts that come to mind, we think about some of the announcements we’ve heard around Walgreens, around Walmart, Kroger and Harris Teeter cutting hours. I was recently reading the AACP Graduating Student Survey where about 22% of graduates said they strongly disagreed or disagreed with the statement that they would reenter pharmacy school if that were to be their choice all over again. We know the average student loan debt is $173,000. So it’s easy to look at all that and say, “Wow, we’re dealing with a lot.” I mean, what do you make of that data and also the opportunities that we have going forward?

Blair Thielemier: So I call this career climate change, and I think it’s occurring right now for several different reasons. I think Tim Baker said on the recent Your Financial Pharmacist podcast that pharmacy’s really right-sizing right now. So what I’m seeing is the job market shrinking or at least becoming saturated, more and more people graduating, older pharmacists being pushed out of their positions due to ageism or just too high salaries and then new graduates who are graduating being forced to take these lower paying positions because they don’t have a choice. They’re drowning in debt. $175,000 in student loans is absolutely insane. And so there’s not a lot of other options. So what I see in pharmacy having this kind of product-centric business model is it’s a commodity, right? What isn’t a commodity is our drug knowledge, is our medication management knowledge, our pharmacokinetics and pharmacology and biochemistry. How can we leverage and take what we already know and already understand, how we’re trained so differently from any other healthcare provider, and create programs that people actually want? You know, I think that pharmacists, we don’t articulate our value very well.

Tim Ulbrich: Yes.

Blair Thielemier: And a lot of times, it’s like, well I’m the medication expert. Well how does that really help anyone else, you know? That almost makes it sound like you’re the most important person in this scenario when really, it should be the person in front of you, so whoever you’re wanting to help and wanting to buy this service. And so that’s really what I’ve tried to shift the idea and rebrand pharmacy as like how can we actually add value? What are the quality metrics that physicians in primary care are being graded on now in the new pay-for-performance model? What are things that payers want in terms of preventative services for patients? What are things that patients want? You know, anti-aging and help with nutrition and weight management. So shifting this idea of like people are going to come to the pharmacy when they’re at their very most sick to what can we actually do before those people get to that point and what are some programs we can create that will help them that are innovative, that are entrepreneurial? Because my great-grandfather was a pharmacist in Chicago in the 1940s, and I think that kind of getting back to our roots, the drugists back then, they were entrepreneurs. Like they had to market and sell their services. They built the industry mostly on independent community pharmacies. So this whole idea of a chain pharmacy is a relatively new concept, but as we’re seeing kind of the job market right-size, as Tim said, what are other opportunities and what are other avenues that we can still take our drug knowledge, take our clinical skills, and apply them to things that people actually want, programs that people want to buy?

Tim Ulbrich: Yeah, and as you mentioned, I think that’s a stark difference. Even though it goes back all the way to the roots, it’s a stark difference for how many of us were trained. And we’re seeing an evolution that’s happening in PharmD education to have more of those entrepreneurial types of training and skill set. You know, I firmly believe that every graduate today needs to come out ready and prepared to know how to justify a position that they’re in, which means aligning yourself with quality metrics, which means communicating value, which means making yourself an integral member of the team, all the things. But if we think back to our PharmD training, that wasn’t what we were doing, right? I mean, we packed knowledge into our brain. And I know for me, graduating in 2008, we were walking out into a market that was basically, you as the graduate were calling your shots. So whether we can consciously or subconsciously admit it, I think there very much was a climate that I was a part of and others where you didn’t necessarily have to figure out how to justify and learn some of those skills. And I think we certainly are seeing a shift of that, and it reminds me — I don’t know if you’ve read the book, “End of Jobs,” but I recently read it. And it talks about how to your point about a commodity and kind of shifting from where we are to where we are today, he talks about this concept that here we are today, really in an age of entrepreneurship. And I really believe that the term ‘entrepreneurship’ I think for many pharmacists makes them feel very overwhelmed, you start to think about the Mark Zuckerbergs, the Elon Musks of the world, maybe one that hits a little bit home for us, the TJ Packers of the world, some that it’s unattainable, I have to start my own business. But it’s really about the entrepreneurial mindset, whether you’re starting your own thing or you’re working for a big-box pharmacy, that’s the skill set, as he articulates in that book, that’s the skill set that today’s graduate needs. And I think a lot of the work that you’re doing and we’ll talk about here at the end as well the Academy members I think is really starting to address that mindset and skill set. So let’s jump into your bold predictions. So three bold predictions for the future of pharmacy. And No. 1 here is we’re talking about this concept of the dispensing of medications and the distribution process and the likelihood of much of that becoming automated in the future. So tell me more about your prediction here.

Blair Thielemier: Right, you talked about my boy. That’s Elon Musk. So I am a big fan. I mean, I love everything he does.

Tim Ulbrich: So he sent a Tesla into space. What do you got? Are you going to send something pharmacy-related into space then or what?

Blair Thielemier: That’s a good idea. I mean, I did bury a time capsule of these three predictions, so maybe I should shoot one into space as well. But yeah, this is my time capsule of these three predictions. If you saw that silly Facebook video of me, I ran ads too, I was burying this time capsule in my backyard with my three predictions for the future of pharmacy. So yeah, the first one was definitely that dispensing, the process, a lot of it can be automated. So you mentioned we’re seeing the tech model and technician verification. We’re only a few steps removed of that even being remote verification and things like that. So my thing is instead of fighting this, instead of saying, “No, we are hanging onto dispensing, we’re hanging onto our current product-centric business model,” looking at, OK, let’s just say what would happen if we let that go and free up time for other types of services? So what I’m suggesting is shifting or at least adding a new revenue stream so it’s not just dispensing services only is the only way that pharmacies make money. So dispensing plus services to make money. And so that’s what I mean by shifting from the product-centric to a service-centric business model.

Tim Ulbrich: So one of the things — to play devil’s advocate to that, you know, I think of the recent workforce survey. I think it’s 44-45% of all practitioners are in the community setting and most of them in a traditional chain setting, maybe a smaller portion in an independent setting, so when you think about that much of the workforce — and certainly, as you mentioned, we’re seeing some right-sizing correction of that potentially, and then you think about what’s happening with Amazon’s acquisition of PillPack, the challenges we’re having with PBM pricing and transparency and a lot of medications being dispensed in terms of under-reimbursement of what it costs them to do that, so the sustained ability of that business model I think is very much in question. So one of the counterarguments, which I think is great that we’re having this discussion here is so what is the timeline of this? You know, my wife and I have this conversation all the time that her and I order pretty much anything we can first on Amazon. So I’ll be the first to admit that I am probably, my kids, me, are probably not walking through the doors of a pharmacy to get my medication unless that looks different in some way, shape, or form, which I think is kind of what you’re getting to in terms of some of the clinical services and add-on things to the dispensing process. But how far away do you think are we from that? And then what does that mean for 44% of the workforce?

Blair Thielemier: So that’s a great question. And you know, I think what we’re seeing too is this shift away from the dispensing model. I mean, we’re talking maybe in the near future the possibility of 3D printing medications in your own home. So if that is a possibility and the Walgreens are going away or at least moving into more like a mail-order type of model, what can we do in the community, in the local community setting to add value to patients? I mean, people aren’t getting less sick. People aren’t taking less medications.

Tim Ulbrich: That’s right.

Blair Thielemier: There’s opportunities in preventative services as well. I think that the interest is growing in things like nutrition and functional medicine, and those are things that are not easily scalable. I mean, Amazon’s not going to figure out how to help you with a personalized DNA recommendation or pharmacogenomic report anytime soon. So where I see pharmacy is having this opportunity to shift and create new revenue streams and also create new jobs is going back to this less scalable model, which is helping patients more one-on-one.

Tim Ulbrich: Yeah, and I think it’s your second bold prediction around really the evolution from a product-centric service to a clinical service and more specifically, appointment-based model. So tell us more there about what you’re envisioning for the future. And I find it interesting you say less scalable because I would agree at a surface level from dispensing, but from an impact level, especially if you think of value-based contracts and where things are going, that’s where I really feel like you start to make true inroads into being a valuable member of the team that sticks. So tell us about the appointment-based evolution model and what you see there in the future.

Blair Thielemier: So I think that innovative community pharmacies are already this to a point. So looking at, like I mentioned, things like functional medicine, helping counsel people on health and wellness and adding these preventative type services. The biggest thing I hear people say about cash-based services is my patients won’t pay for that. And what I think is interesting about this is from a community and population health standpoint is the same patients that are coming into your pharmacy that are on six or more medications with two or more chronic diseases aren’t exactly the same people that are going to be enrolling in your weight management and your anti-aging functional medicine or BHRT programs. So we’re actually talking about a new customer, a new patient, that you can attract and bring into your pharmacy world. So there’s a time and a place for MTMs, for Medicare beneficiaries, but for the most part when we’re talking about preventative type services, especially cash-based services, I’m talking more the younger patient, catching them 15-20 years before they develop these chronic conditions.

Tim Ulbrich: You know, what I like about that idea and that thought is when you think of market share, you’re now talking about expanding the market of people who would traditionally walk in the doors of a pharmacy, right?

Blair Thielemier: Exactly.

Tim Ulbrich: We’re talking about not just sick care, but the other side of that spectrum. And I think we would all agree, we’re trained to be ready to help in that area in terms of prevention. And we can’t forget the assets and the strengths that we have. You know, I think it’s easy to stop the conversation at the distribution side, but one of the arguments for the brick-and-mortar pharmacy is obviously accessibility, you hear that over and over and over again how accessible pharmacies, how accessible pharmacists are in both hours, in terms of location. So I think there’s certainly the assets that are there and then also back to your point about what is and is not a commodity, I think that’s an excellent discussion for us to brainstorm and think of further because as you think about logistics companies and people like Amazon and PillPack and others, they’re looking at scalability and automation of processes, right?

Blair Thielemier: Right.

Tim Ulbrich: So what is currently happening that is valued by payers that can’t be replaced by that, and how can we grow and scale that and align that with value-based contracts and other things? And as I mentioned to you before we jumped on, we’re working on implementing a new community-based pharmacy course for our Masters students here at Ohio State, and while we tend to lump together community-based practice, I think we’re really doing a disservice when we often do that. I mean, the spectrum of innovation that is happening in community-based practice is really unbelievable and I think we tend to start and stop the conversation around big-box pharmacies and dispensing lots of medications, but there’s really a lot of innovation, as you mentioned, in the community space. And we can’t forget, even though we’re seeing great innovation in the hospital inpatient setting — what is it, 99.9%, whatever percent of time people are spending out in their community at home, whether that’s in their community, at their place of worship, but that’s where they are. So we can meet them there and provide services. No. 3 here, which I think is a really bold vision around where we’re going to see pharmacy going, has to do with pharmacists being positioned and placed in primary care settings. So tell us here what you see for the vision.

Blair Thielemier: So you know, I said on last night’s webinar really, if we’re looking at pharmacy practice in September 2029, my vision is to have an embedded clinical pharmacist in every single primary care practice. So a few things that I have to work with is primary care is — they are having issues with medication-related quality metrics that pharmacists can help with. From a quality care coordinator standpoint, they are having to do medication reconciliations. They now have access to these pharmacogenomic tests with not really sure how to use them, how to integrate them into their practice. So they’re getting more and more data and more and more information, but being able to put it together and create a program that aligns with the quality metrics, that aligns with what the payers want to see as well in the new pay-for-performance thing, they don’t have a member on their team that can do that. And I think that’s where the pharmacist can really come in and a lot of value. So a lot of times, pharmacists in the hospital settings will be on the team that’s making sure that we’re meeting the quality metrics on the hospital team. So did the patient get an antibiotic started within two hours of admission with a diagnosis of pneumonia? That’s one of those things. Or on metoprolol after a STEMI. So looking at pharmacy from a quality standpoint, it’s like how can we add value for payers and physicians’ offices by focusing on quality? That’s where I think we can make the biggest impact. And so I always share that my mom is actually a nurse practitioner, works with a clinic, like an FQHC, and she goes to a lot of primary care conferences. And one of the ones she went to last year in D.C., she came back and she said, “Everyone is talking about pharmacists and speech therapists in primary care.” And so that just made me feel good. It’s like oh, well, I can get behind that.

Tim Ulbrich: Absolutely.

Blair Thielemier: And someone said recently that there was a Florida pharmacists meeting. They actually sent a representative from the American Medical Association to the pharmacists meeting, saying, “Hey, guys, we want more pharmacists trained up to work in primary care, to work with physicians. Let’s try to figure out how we can make this really happen.” And so that’s exactly what we’re doing in the Academy is building business models around preventative services in community pharmacy, in building business models around consulting programs in primary care.

Tim Ulbrich: And I think if you think of that vision of having a pharmacist in every primary care provider across the country, and as I’m sure you’re also aware, the incoming AACP president mentioned a similar vision for the future, and when I think about impact and where things are going from a pay-for-performance and where you have a pharmacist positioned to be able to impact those quality metrics and how they’re intervening in a way that is post-diagnosis but before a patient shows up at the pharmacy, right, where you’re often kind of working back issues and challenges, so I think there’s a huge role there and where we think about, again, pay-for-performance contracts. And I think scalability, you think about OK, the infrastructure is there, there’s opportunity there across the country, but just as quick as you can begin to think and brainstorm, the objections start coming out and people shoot down that idea, right? So how do we scale this when we have NPs and PAs that are a cheaper resource and their enrollment is increasing, they have billing privileges and so forth. How do we scale this when every state has different regulations and requirements around collaborative practice agreements? And the list goes on and on, right? And I think that what we’re doing here is beginning a conversation to say, well, that’s obviously not going to happen tomorrow, but there’s some best practices in cases that are happening, that you build momentum, just like any other model. You know, I think about I’m sure the history of NPs in clinics and how they evolved to be commonplace and depended upon. I’m sure a similar conversation was happening 15, 20, 25 years ago with similar objections. So what do you say to some of those objections that people may point at and say, “It’s not realistic, Blair. It’s not going to happen.”

Blair Thielemier: Oh yeah. I mean, I’ll state all the objections for them. We’re too expensive, we’re not providers until federal Medicare, physicians won’t want to work with me because we’re challenging their turf, they don’t want to see pharmacists add these clinical services or get prescriptive authority or whatever. For every objection, there are pharmacists working in primary care centers right now, and there are physicians saying, “This is helpful to me. It’s helping me be more productive, it’s helping me be more profitable. It was not what maybe I thought it was like in the beginning before we started this pilot program, but now I just want to keep adding to this pharmacist. Like we’re looking for more pharmacists to join the team now.” So that’s what really keeps me going is yes, there are absolutely challenges. There’s state scope of practice challenges, there are federal challenges around billing for pharmacist services in primary care. But for those challenges, we’re still seeing pharmacists doing it, and we’re still seeing them getting great results and having a lot of positive feedback from providers. And part of that I think is having the confidence and being able to go out and pitch your services. And that’s what I’ve really built with this new course in the Pharmapreneur Academy. It’s called “The Pharmapreneur’s Business Blueprint,” and what it does is it teaches you the places you can make the biggest impact, but it also helps you to identify those pain points. It’s like, yes, there’s these challenges here. What are some ideas for overcoming them? And how to start these conversations. So a lot of pharmacists say, “Oh man, I’d love to reach out to my local physician and see if we can collaborate on something, but I just don’t know what to say.” I’m like, “Well, you never know if you don’t ask.” So we’ve got literally scripts for cold calling, like calling up the practice and saying, “Hey, can you meet for a lunch? Or I’ll bring donuts one day and we can have a conversation about this.” So the way that I like to talk about it — because like you mentioned, there’s so many different innovative opportunities — is narrowing them down to the three paths. And we call these the three pharmapreneurial paths. So the first path is the physician’s office path, and in the course, say you’ve chosen to do the physician’s office path, you’ll only go through that module track for the physician’s office path. And it helps you put blinders on. It’s like, yes, there’s a lot of opportunities in functional medicine and cash-based stuff, but I’m on the physician’s office path.

Tim Ulbrich: Which is so important when you’re getting started in anything, right?

Blair Thielemier: It really is.

Tim Ulbrich: Because it’s very easy to go in any direction.

Blair Thielemier: And then your second is like the pharmacy clinical service path. If you’re an independent pharmacy owner and you’re looking at how can we add services here in the pharmacy. And then the third would be the patient pay path. So it’s really kind of like a choose-your-own-adventure of like put your blinders on, just take the first steps to call your potential leads. We have like a framework that we use for customer development interviews that walks them through the four A’s of selling your services so that you can feel like you’re selling and able to articulate your value with confidence, and it doesn’t feel sleazy selling like sales pitch-y.

Tim Ulbrich: And I’ll mention this link again at the very end before we wrap up, but if you go to YourFinancialPharmacist.com/academy, YourFinancialPharmacist.com/academy, that will take you over to learn more about the Pharampreneur Academy, and you can also get $50 off your first month of membership. So again, YourFinancialPharmacist.com/academy. So Blair, I’m thinking of — back to earlier in our conversation, we had mentioned a lot of things we feel like we don’t traditionally get in a pharmacy education, and it feels to me a lot of what we’re talking about here in terms of marketing and selling and justifying and aligning with quality metrics and communicating and practice management and business infrastructure. And I know you just recently went through a renovation — or not a renovation, but an evolution of your course. Talk us more through why you did that, what were you seeing, and the need for some of the additional content that you added.

Blair Thielemier: So whenever I was first building the course, it was all about information around billable pharmacist services. There’s no clinical anything in the Pharmapreneur Academy. It’s focused solely on business models. And what I was building in the beginning is what pharmacists were saying they needed, which was information on CPT codes and diagnosis codes and note templates for the EHR, for documentation, things like that. So over the past four years, I had created that stuff, and then I realized pharmacists were getting stuck in the overwhelm. They were getting stuck in that how do I put blinders on and focus? I want to do all these things at once. So I went back, and what I’ve created in the beginners’ blueprint is this model, this framework that you can go through, and it helps to lead you to the right decision for your business. So I said last night, a lot of people start their business with a logo and a business card.

Tim Ulbrich: I’ve talked about that before, yes.

Blair Thielemier: I am so against business cards. No. I’m not against them, but I think that that’s not the first step. That’s not even like in the first 10 steps of building their business.

Tim Ulbrich: No. Yep, agreed.

Blair Thielemier: So it’s really about identifying which path you’re on, which is essentially identifying your target market or your ideal customer avatar if you’re familiar with that language. So what we do in the beginning is walking through those. We talk about essentials of each paths and timelines because the timeline for starting a program in a community pharmacy setting is much shorter, actually, than starting a program in a physician’s office or really getting momentum in a cash-based service. So looking at timelines, if you need to add a revenue stream like yesterday, it might not be a good idea to try to build a functional medicine cash-based business if you don’t have 6-12 months to build up your clientele. So it helps you avoid these common missteps.

Tim Ulbrich: Yeah, and I think as you and I have talked about many times before, I think when somebody’s excited about a business idea, whether that’s a side hustle or they’re going to jump ship and do something different or work two jobs, whatever, there tends to be the falling back on well, I need to get my corporation set up, and I need my business card, I need my website. And I think sometimes you just have to start, taking one step towards developing the framework, the solution to the problem that you’re working on. It may mean seeing a patient without having a full process fleshed out. There’s so much to learn as you go through that process that will inform what ultimately the business will look like in the future. So who are you seeing that’s coming to the Academy and contributing to the group? Is it people that are looking to start a side hustle? Is it people that are already in their own business and kind of spinning their wheels? Those that are looking to jump to start their own business? What’s the variety of folks so those that are listening might have a better idea of who is a good fit for the Academy and what you’re working on?

Blair Thielemier: Yeah, that’s a great question because what we have tried to create is this kind of peer-led conversation around here’s the opportunities that are out there — and I encourage the Academy members to introduce themselves, to talk about the opportunities that they have in mind. So you know, the most recent post that I responded to this morning was two different pharmacists who had said that they felt like their biggest opportunity was to collaborate with local physicians offices, that they’d actually been approached by local physicians offices about these types of services but just didn’t really know how to implement them and how to put these programs together. So mostly, I would say it’s independent pharmacists who are looking to build these types of practices, whether it’s reaching out to a local private practice physician to go to work in their office or it’s partnering with a local chiropractor to offer nutrition or pharmacogenomic testing in their office. Generally, it’s the individual person. We do have some independent pharmacy owners in there as well who’s looking at OK, I’ve got this pharmacy, but now we are wanting to reach out to physicians and collaborate or offer like point-of-care testing services or tobacco cessation programs or whatever. And they’re looking at how also do I train my staff members to be able to sell these services and offer these services so that I’m not the only person that’s doing them? So we’re seeing a lot of owners also use it to train their staff members as well in these opportunities for these clinical programs. So I’m excited about that too.

Tim Ulbrich: So last question I have for you is September 2029, so we’re going to have hopefully a similar conversation. I don’t know if Facebook Live will be a thing or not, whether we’ll be doing podcasting or whatever.

Blair Thielemier: It will be holographs or something or holograms like on our watches.

Tim Ulbrich: Who knows at that time? What will we be talking about? I mean, do you think that we as a profession are going to face the next 10 years with confidence and really reinvent ourselves and in some way, redefine the role? Or do you think we’re going to see a significant shaping the other way and kind of an evolution towards maybe even further separation of the profession in terms of what an inpatient pharmacist role looks like and a pharmacist who’s in an ambulatory setting? What do you see happening even beyond that 10-year mark?

Blair Thielemier: So really interesting. Someone commented, it was in the Pharmacist Moms Facebook group, and I was talking about this subject and switching from this product-focused business model. And she had mentioned that the banking industry went through similar changes back in the 1800s when their primary method of revenue was selling gold and silver. And when we moved away from the gold standard, they didn’t really have a business model anymore. And they kind of transitioned to now these services and in financial services that what we now think of as the banking industry, if you went in to ask them to buy gold or silver, they’d probably look at your like you were crazy.

Tim Ulbrich: Yeah.

Blair Thielemier: So I’m excited about that. I’m excited about starting these conversations, about reimagining what pharmacy looks like and how do we rebrand pharmacy? So most of the pharmacists that I talk to, they’re like, I want to get my patients off medications. And that’s so counterintuitive because, you know, everyone comes in like, oh, you must be rich because my medications are so expensive. Like no. Anytime somebody asks me for a recommendation for an over-the-counter stool softener or something like that, I’m like, well how much water do you drink? Like that’s usually how I start the conversation is like, let’s talk about water and let’s talk about fiber and let’s talk about all these things. And your last-ditch effort might be an over-the-counter product. So I think a lot of pharmacists can identify with that is that we’re not pushing medications. We’re pushing to get people off medications. We’re looking at how can I — this person’s on 11 medications. How can I combine some of these? Which of these are being used to treat side effects of other medications? How can we get them on the most optimized medication regimen and the least amount of medications as possible for this patient? That’s the conversation I think we’re going to be having in 10 years is like, well, I took my patient from 10 medications down to four. You know? And that’s where I believe we can add value. That’s something that the patients want to see, that’s something that the payers want to see. And physicians, they’re going to be getting better outcomes. They’re going to be seeing reduced readmission rates for their patients. And hospitals, that’s what they’re going to need as well.

Tim Ulbrich: Yeah, and it would be interesting to see — I mean, you used deprescribing as an example, but even more consistent reimbursement for deprescribing, right?

Blair Thielemier: Yes.

Tim Ulbrich: Because I think counterintuitively, obviously you’re reducing revenue to the pharmacy, which is an area I think about if you think about pharmacists in every primary care provider across the country, you know, in theory, that really changes the interaction of a patient coming to a pharmacy. Right? Because you think about ideally, a pharmacist’s role post-diagnosis and then being involved in the prescription process, that really changes a lot of what now is time spent at the pharmacy kind of working back with the physician or providers or you think about a traditional medication therapy management visit, ideally, a lot of that could be happening at the point of prescribing. So how do those intersect and work with one another? What impact do they have on one another? I think what you and I both agree on is that we need more opportunities for constructive, innovative dialogue about what does the future of the profession of pharmacy look like? And I think that there’s unfortunately kind of two camps: one of extreme negativity without constructive dialogue and brainstorming and one of somewhat of an optimistic, idealistic standpoint that doesn’t necessarily acknowledge some of the challenges that are here today. And I think we need both, and we need a space where at Pharmapreneur Academy, at Your Financial Pharmacist, at colleges of pharmacy, at national organizations, in communities that we can have a conversation about hey, if we were to rethink, reinvent pharmacy, all ideas on the table, what might that look like? How could we get reimbursed for it? And what’s the value that we can bring as a profession? And I think that often, these conversations start with a lot of baggage and a lot of loaded opinions, and so I know one of my hopes here today in continuing is to stimulate a conversation and get people thinking more about what the profession holds. So thank you so much for joining. Thank you for your three bold predictions. And again, if you want to learn more about the Pharmapreneur Academy, go to YourFinancialPharmacist.com/academy. You can learn more about what’s involved in the academy, what the community is all about, and what you’ll get. Again, YourFinancialPharmacist.com/academy. And you can get $50 off your first month. So Blair, thank you so much for joining.

Blair Thielemier: Thank you so much for having me.

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YFP 116: Transforming Your Life and Career Through Networking


Transforming Your Life and Career Through Networking

Best-selling author David Burkus joins Tim Ulbrich to talk about the science of networking and how the advice we have been given on how to effectively network needs to be seriously reconsidered and likely thrown out the window. David and Tim talk about his book Friend of a Friend and what the research has to say about a surprisingly simple approach to understanding your hidden networks are key to transforming your life and career.

About Today’s Guest

David Burkus is a best-selling author, a sought after keynote speaker, and Associate Professor of Leadership and Innovation. In 2017, he was named as one of the world’s top business thought leaders by Thinkers50.

His newest book, Friend of a Friend, offers readers a new perspective on how to grow their networks and build key connections—one based on the science of human behavior, not rote networking advice. He is also the author of Under New Management and The Myths of Creativity. David is a regular contributor to Harvard Business Review and his work has been featured in Fast Company, the Financial Times, Inc magazine, Bloomberg BusinessWeek, and CBS This Morning.

David’s innovative views on leadership have earned him invitations to speak to leaders from a variety of organizations. He’s delivered keynote speeches and workshops for Fortune 500 companies such as Microsoft, Google, and Stryker and governmental and military leaders at the U.S. Naval Academy and Naval Postgraduate School. His TED talk has been viewed over 2 million times.

Summary

David Burkus joins Tim Ulbrich on this week’s podcast to talk about his book Friend of a Friend, what the research has to say about a simple approach to understanding your hidden networks, and how the advice we have been given on how to effectively network needs to be seriously reconsidered.

David began studying organizations and learning about how to make working at them better. He learned that every organization is a network leading him to discover network science research. He dove into studying research articles written by physicists, mathematicians, psychologists, sociologists or whoever was studying networks. From there he came to understand that there were two types of work written about networking: advice books written from an autobiographical standpoint and fascination books written by researchers. David felt that there was an unoccupied space in the middle to teach people how networks work and avoids the advice trap.

David discusses that people often think strong ties or close relationships are the way to grow your network, but in reality weak ties are the most helpful. Strong ties are people that you interact with often, like close family, friends, neighbors or coworkers. Weak ties are people that you know but haven’t talked to in a long time. Perhaps they are people that come into the pharmacy once a month; you don’t know them well but you talk to them occasionally. If a situation arises where you are looking for job leads or have another type of emergency, you’ll connect with your strong ties but they don’t have as broad of a network as your weak ties do as they interact with more people you don’t know outside of your connection. Only reaching out to a weak tie in an emergency situation like this would make for awkward conversation. David suggests that you should be regularly checking in with weak ties so that when something comes up that you need help with, it becomes part of a normal conversation instead of a cold one. In short, he says to make weak ties like your old friends.

David delves deeper into weak or dormant ties and also discusses structural holes, super connectors, and meaningful and authentic engagement.

Mentioned on the Show

Episode Transcript

Tim Ulbrich: Hey, what’s up, everybody? Welcome to this week’s episode of the Your Financial Pharmacist podcast, where I have the honor of welcoming David Burkus onto the show. David is a bestselling author, a sought-after keynote speaker, and associate professor of leadership and innovation. And his newest book, “Friend of a Friend: Understanding the Hidden Networks that can Transform Your Life and Your Career” offers readers a new perspective on how to grow their networks and build key connections, one based on the science of human behavior, not broke networking advice. He’s delivered keynotes to leaders of Fortune 500 companies and the future leaders of the United States Naval Academy, and his TED Talk has been viewed over 2 million times. Also a regular contributor to Harvard Business Review, and his work has been featured in Fast Company, Financial Times, INC Magazine, Bloomberg Businessweek, and CBS This Morning. David, welcome to the show.

David Burkus: Thank you so much for having me.

Tim Ulbrich: So really excited about your work and your book “Friend of a Friend,” and before we talk about that book and the research and the impact that it has on us as a community of pharmacy professionals, the work that you’ve done on networking science, I’m curious and want our listeners to know a little bit more about your background. Why study this topic? Why make a career out of it? What intrigues you so much about networking?

David Burkus: Yeah. Well, the jury’s still out over whether or not I make a career out of it. I sort of have intellectual ADHD a lot of times and jump from different subjects. But ultimately, my background, I study organizations or I like to say I study how to make work not suck, right? And that’s in the realm of leadership and management but also creativity and innovation. And in each of those fields, I ran into some of the most powerful research on how organizations was network science research because every organization is a network. And in fact, most organizations you could describe as two different ones. You have the formal org chart network, right? And then you’ve got the informal who actually knows who, whatever. You don’t have to work in an organization to realize — like here at Ohio State, you don’t have to work in an academic institution too long when you realize that the department secretaries are more powerful than the actual chairs and deans, right? Because they know what’s really going on. And all of that is explained by networks. And so that got me in this path where I was just following the rabbit trail of studying all of these different research articles from the physicist, mathematicians, psychologists, sociologists, etc., who were studying networks. And I started to realize that there isn’t really a place for — there really isn’t a place being occupied for a work that would teach people in practitioner terms how to leverage this network science, right? Basically, when you say the word ‘networking,’ you had two categories of books available to you. The first were the sort of advice books. These are great. These are “How to Win Friends and Influence People,” and “Never Eat Alone,” and “How to Work a Room,” and they’re all great. But they’re all advice. And the shortcoming of advice is that it’s autobiographical. It represents the person, usually the man, sometimes the woman, what they did to grow their own personal network and then the promise that if you do this, it’ll work for you. And then that doesn’t address the sort of awkwardness of being someone else, right? You read that, you go to the networking event, you try and implement whatever it is, how to give an elevator pitch or how to say somebody’s name three times so you remember it — that’s never worked for me, by the way, the three times thing — and then you feel inauthentic first because you’re pretending to be somebody else because you read the advice book and you’re pretending to be him. But then sometimes it just doesn’t work because you’re not that person. So that was sort of the norm, most networking books. Then way over in almost published by the scholarly journals and things, you had what I call the sort of fascination books. These were books by the actual researchers, people like Nicholas Christakis and James Fowler, Duncan Watts, and what have you. And they’re fascinating, but they’re fascinating in that way that you watch a TED Talk and you go, wow, that’s fascinating. I have no idea what I’m going to do with my life.

Tim Ulbrich: What do I do with that? Yeah.

David Burkus: Right? But wow, that’s fascinating. So therein was the idea. Hey, there’s this unoccupied space in the middle that maybe if we create something that teaches people how networks work, which is what the fascination books do, describe the network that somebody is in and avoids the advice trap because it’s just saying, this is universally true of all networks, so I know it will be true of your network, but does it in that same practitioner language of one of those advice books. Maybe there’s an opportunity there. And so that was the big bet. About two years ago, we made that bet, started writing the book, put the book out there, and I wish I could tell you here that I’ve sold as many copies as “How to Win Friends and Influence People,” but I’m probably never going to hit that mark because that book is in the bazillions it’s sold. But the letters, the emails, the messages — ironically, mostly on LinkedIn — that I’m getting, the feedback that I’m getting, tells me that we really sort of hit that sweet spot, which is really kind of encouraging about a year after the book came out to hear people go, yeah, I never looked at my network that way or I never looked at the network that I’m a part of that way, thank you so much, that’s been awesome. So you know, we may not have as many people as Dale Carnegie on our side, but we’re teaching people every day how networks work and then how they can put them to work for them.

Tim Ulbrich: Yeah, and I’m really excited to get this out to the pharmacy community. I think we as a profession — I shared with you before we hit interview — we as a profession are really in a unique time where we have some significant pressures that we’re facing in terms of a shifting and evolution of our roles and people that are finding themselves in that job loss, and maybe they thought, forever I’m going to be in this secure position, or I have my hours cut, or I don’t like my job, whatever be the case, and this topic of networking and how to do it effectively and how to really shift your mindset around maybe the traditional advice you’ve always been given isn’t really the best advice, and maybe after all should be thrown out. And one of the things you mentioned that really hit me when I read the book is this concept that all advice is autobiographical. And I think that is so true, and it was really even humbling for me to think about as I’ve mentored other students, like I tend to tell them networking advice based off of what’s worked for me. Well, that may not be very effective for them, for obvious reasons. And so I think this concept of rethinking networking, especially for us in pharmacy where I would say is “traditional networking” is so prevalent, this idea that you’re at a national association meeting and you walk into a big room and you meet people cold and you hope that’s really going to advance your career and you’re going to have that two-way benefit I think is certainly a stretch. So let me start, David, in the beginning of the book, you talk about Adam Rifkin, who’s an entrepreneur that was named by Fortune Magazine in 2011 as the world’s best networker, which I really didn’t know was a thing, which is pretty awesome. So I mean, if somebody is called the world’s best networker, like who is this guy? And what was it about him that made him so successful when it comes to networking?

David Burkus: Yeah, well, so that’s the thing, right? Even if you hear the term, “world’s greatest networker,” you picture like the Dos Equis guy, right? Like this smooth-talking, tall, handsome, dark — I got those in the wrong order — wearing a three-piece suit, able to flip business cards out of the shirt sleeves at a moment’s notice, etc. You think about that person, and Adam Rifkin is not that person. If you ever met him, Adam Rifkin, I mean, he’s average height, he is definitely not average girth, he’s a little bit overweight, he likes to wear hoodies, most often a black hoodie with a white T-shirt underneath, which makes people think of him as a panda bear. And I say this because Adam has actually sort of adopted that term. Like he started a company called PandaWhale. Like he was the panda, his partner was the whale, right? Like he plays to this motif often, which is fine. He’s not that type of person that you would think would be the world’s greatest. He’s not charismatic, etc. What Adam is is Adam is someone who has a PhD in computer science and began to look at the way people interact the same way you linked up computers. And this is what’s amazing about networks is that some of the studies in “Friend of a Friend,” by the way, were not done with traditional human networks. They were done with networks of hyperlinks and computers and all of that sort of stuff. But what’s amazing is that there are certain principles that are universally true of all networks. And this is what Adam really focused in on. And particularly in Adam’s case, the thing he focused most in on is a term called resiliency in network science, that a network or a community is stronger the more links there are going between them. In other words, we think that it pays to be that sort of power broker person who only dishes out introductions seldomly and only makes connections when he or she can control what’s going on and get a piece of it, etc. And that model works a little bit, but it doesn’t work as well as focusing in on taking care of the whole community. So that’s what Adam started to do, started to connect people that he already knew. Eventually, it turned into actually these regular meetings. He was the first person in this Silicon Valley community to start regular meetings. Now, like I get invitations to meet up all the time. But this was 20 years ago when nobody was really worried about this. He started a community called 106 Miles, which is the term for the stretch of highway that is Silicon Valley, and started this community that now has thousands of different tech entrepreneurs and employees and venture capitalists, and all sorts of people coming together on a regular basis to meet each other. And that’s elevated Adam’s status not because he’s the one at the center of the network running the show but because he cared about the actual network, and then it just so happened that people became connected to Adam because they joined into this community that he built. And so fast foward to 2011, Fortune Magazine’s trying to say, well, outside of people who work on LinkedIn, etc., who is the most connected person on LinkedIn, and it was Adam Rifkin. What I think is funny is in truth to Adam Rifkin’s networked ability, the magazine did this experiment, the senior level editors who were at the magazine never really connecting — they’re editing, they’re not running beats, etc. — they were like, I’ve never heard of this person. So they hand it over to the writer who’s assigned to cover Silicon Valley, and they say, “Can you go look into this person, Adam Rifkin, he’s apparently connected to everybody.” And the journalist who covers Silicon Valley was like, “Oh yeah, I know Adam.” Right, because everybody does.

Tim Ulbrich: Right, right.

David Burkus: And I think the big lesson for a lot of us in Adam’s story is twofold. One, pay attention to the network that you’re around, but also take care of that network. Build what we call social capital in that network and trust that it will take care of you over time as well.

Tim Ulbrich: Yeah, and I love that in the book. I think for many pharmacists, this concept of networking is very overwhelming. They may be introverted by nature, and so when you talk about him himself saying, you know, I’m not an extrovert and it’s often not something that he’s thinking about intentionally interacting in those ways, maybe a little bit shy and awkward, but what he does have, to your point, is this understanding of how networks work and the effectiveness that they can serve. So one of the main takeaways I had, David, was this concept of strong ties versus weak ties. And you know, while it may seem counterintuitive, why weak ties tend to be more valuable. And this is something I think I forever will hold with me from this book. So can you define the two? What’s the difference between strong and weak ties? And why is it the case that weak ties may be more valuable?

David Burkus: Yeah, so if you think about your network — or actually, better stated, if you think about the network that you are a part of because it’s not yours, it belongs to the industry or the community, we’re all one big network of 7.4 billion people, right? But if you think about the network around you, you have various different types of relationships. Some are these what we call strong ties, they’re your close contacts, the people you see every day, the people you work directly with, they’re your friends, they’re your family, they’re the people you usually go to first when you have a question or problem or you need to learn more information about something. In a job, again, the people that you work with on a regular basis, maybe they’re assigned to your location, so they’re the people that are on your team, maybe you just see them on a regular basis because of what you do. And then there are the people that you don’t interact with that often — that either you don’t interact with that often or you do, but you don’t know them that well. Like I think about weak ties can be both people you know and used to know well that you haven’t talked to in a really long time — we actually use the term ‘dormant tie’ as a specific sort of subset of weak tie. But these are also the people that like you think about pharmacy, for example, these are the people that come in on a monthly basis and have for the last four or five years. You know them, you might even know their disease, but you don’t know them that well. You don’t even know what they do, what their occupation is, etc. Right? In a lot of organizations, I always make the joke that your weak ties are the people, in terms of an organization, they’re the people you know, but you only see them when there’s cake in the breakroom. Right?

Tim Ulbrich: Yeah.

David Burkus: And because of it, it turns out that when it comes to looking for new information, new ideas, new perspectives, etc., there’s a lot of redundancy among your close contacts. Right? You think about your team, the group of people on your team, well, your team’s already all connected to everybody. Right? And those people are highly likely to be the same people that they’re talking to all of the time. So you’re not going to get a lot of diversity of perspectives, you’re not going to get a lot of potential introductions or referrals through those people because the likelihood that you already know who they’re going to connect you to or what they’re going to recommend to you if you’re thinking about job leads, for example, they’re probably only going to know stuff you already would have known about anyway. So it’s actually your weak ties or your dormant ties who are in a close group of other people that are not you and are not your community that are more likely to be different from you, and hence, they’re more likely to have differing information, different opportunities, different potential introductions, sort of all of that. And the lesson of the strength of weak ties really isn’t this idea of like, OK, when you’re faced with an emergency, right, like oh, now I’m out of a job, go back and reach out to weak ties, which is how other people have talked about this concept of weak ties in the past. The problem with that is that it gets kind of awkward, right? You haven’t talked to someone in two years, and now you’re reaching back out to them because you just were invited to be successful at a different company by your organization or something like that. That can be an awkward conversation. So to me, the lesson of weak and dormant ties is to actually be regularly checking in with a lot of those people that you’ve identified as this is not someone I talk to often, but I could be important to them, they could be important to me, let me put in a system where I’m checking in with them on a regular basis, every three months, every six months, maybe it’s just once a year, whatever you’re doing to make it a little bit less awkward when they have an issue that they want to come to you to or when you have something you want to come to them with. It’s just another conversation in a series of conversations. The goal is to make weak ties like your old friends, those people who you could pick up the phone and call, and it just feels like no time has passed since the last time you’ve talked to them. The goal is to get to that level of rapport with a lot of different people so that when you’re faced with an issue, you have a lot of different people who have different information and different perspectives to go back and reach out to.

Tim Ulbrich: Yeah, and I’m so glad you brought that up of the importance of maintaining them all along and regularly engaging and being intentional and not just coming when there’s an emergency situation of a job. We can all relate to the situation of you get pinged on LinkedIn, and somebody’s classmate from 10 years ago, and they say, “Hey, you live in an area where there’s jobs available. Can you help me connect with somebody?” And it’s like, I haven’t heard from you in 10 years, right? So I think that regular engagement and maintenance is so important for our listeners to hear that even if you’re in a position where all things are going well and you’re not necessarily currently looking for a job, that you’re being intentional about regularly maintaining those. I want to spend a minute, David, on this concept of specifically the dormant ties as a subset of these weak ties because I found this really interesting, and I’ll share with you in a moment how I have practiced this over the last 3-6 months since learning about your research and work and how powerful it’s been, but in the book, you talk about that the research really shows the benefit of the dormant ties has more to do with the fact of their dormancy than with the perceived expertise of those individuals. So what is it about the dormancy that really brings the power in what those connections can bring?

David Burkus: Yeah, so I mean, ultimately, whether we’re thinking about job leads, we’re thinking about trying to think of a solution to a problem, whatever it is, ultimately what networks provide us is information. It’s why human networks and the network of the world wide web are so analogous to each other is that both are looking for information. You’re looking for new information, different perspectives, yeah, OK, potential referrals to new introductions, etc. And because those people are, you haven’t talked in awhile, it’s not like they don’t exist. To use like a gaming term, they’re not non-playable characters. They’re real people too. They don’t just sit around waiting for you to interact with them. And so because of that, they’re running off somewhere else in the network, interacting with a different group of people, and the likelihood that because of that dormancy, they’re interacting with people who are different than you, who don’t see the world the way you see it, who are aware of opportunities that you’re not aware of, etc., that likelihood increases the more dormant or the further away they are in the network from you. That’s where you end up with a lot more diversity, right? So the dormancy is what provides that. Even if you feel like oh, OK, there’s this other person, and he lives in my city, and yeah, he’s an expert in this exact area. I mean, the mere fact that he lives in your city means that you’re probably going to talk to that person more often and have already benefited from their knowledge. So just in the moment, you’ve already sort of gleaned a lot of it. But in terms of opportunities, perspectives, etc., it’s highly likely you’re going to have a lot more in common than the way, way out dormant person. So it’s a better idea to start with that person. And again, like you said, it’s not a good idea to just start with that person when you’re desperate. It’s a good idea to start with that person on a regular basis checking in with them, recognizing that it’s OK to not talk to everyone all of the time. Some people need to be dormant. That doesn’t mean you ignore them.

Tim Ulbrich: Yeah, and the visual that I have in mind is I’m envisioning these spiderwebs of networks that have the potential to be connected, but we tend to stay in our own lane, and we tend — I’m thinking my own situation of if an opportunity comes up or I’m looking at something in the future where I think about, OK, I need to lean into my network, we tend to go to those strong ties whereas the bridge really lies in the dormancy and the weak ties that’s going to open up other networks and opportunities. I think that concept is really cool. So now the question is, how do you engage with these folks in a genuine, authentic, meaningful way? I mean, is there an opportunity here through social media, through LinkedIn, through Facebook, that that to me would appear to be individuals that if they’re my strong ties, if they’re my closest network, I’m probably regularly interacting with them in a way that’s beyond LinkedIn and Facebook and other mechanisms of social media. But this may be an opportunity to really leverage social media to say, OK, these people are already in my network, and now I can open up that door and further the engagement.

David Burkus: Yeah. So the way that I like to say it is that social media is a supplement to, not a replacement for, your offline networking efforts. But you’re exactly right. When it comes to these dormant ties specifically, it’s a great way just to identify who they are. Right? If you think about Facebook, for example, if you pull up a list of your friends on Facebook, it’s already sorted by how frequently you interact with those people. And in of other places, you can ask for it to sort your existing connections that way. So scroll all the way down to the bottom, boom, we’ve already found some of your dormant ties. Right? Now, there are — the most common probably thing that people do on Facebook to reach back out to dormant ties is the birthday thing. On LinkedIn, it’s the work anniversary thing. Like if you’ve ever had one of these, you get inundated with messages that are actually usually just people clicking a button because Facebook asked them to click the button.

Tim Ulbrich: Canned message, yep.

David Burkus: We don’t necessarily want to do that. If you’re going to wish them a happy birthday — I’ve got a good friend, Derek Coborn, who also wrote a book on networking. And it’s also great, but it’s also advice. Derek Coborn does this thing where you see the birthday thing, and he records a 30-second video on his phone and then direct messages it to the person. Right? Because he’s at least rising above the noise. My favorite thing to do is just not worry about it at that time. People aren’t going to see that you clicked on something, or they’re not going to see that you put one thing in the comments where there’s 100 comments, right? Either take it offline or find a different time. What I like to do is put that person in my mind. I have identified my dormant tie, sometimes I used to go as far as putting their name on my calendar as an all-day event. You know how it sort of floats above the rest of your activities and you see it? And what’s amazing is if you put someone in your mind, you will find things throughout the day that remind you of that person. You’re reading an article, and you’re like, oh, you know, this reminds me of that time we were talking about x. Now you take the 15 seconds to send the article to them. Or you think of a conversation with them or an answer that you never gave or something like that. You end up thinking of this sort of organic reason to reach back out to them by a more personal means, direct message, email, text if you’ve got it, etc. What I tell people, so you get all the way to the end of the day, and you haven’t thought of something, you can send a three-sentence email that will — believe it or not — jumpstart a conversation. The three sentences are: I was thinking about you today. I hope you’re well. No reply needed.

Tim Ulbrich: Oh, that’s great.

David Burkus: The “No reply needed” one’s a little counterintuitive. When you say “No reply needed,” you’re basically saying, “I don’t have an agenda. I’m not looking for a job. I’m not trying to sell you into my new company and recruit you. I have no agenda. I just was thinking about you, and I hope you’re well.” And it sounds weird, but I’ve never been on the receiving end of someone telling me they wish me well and responded with spite.

Tim Ulbrich: Or nothing.

David Burkus: Or responded with awkwardness — or nothing, right? I’m going to reply with something. And more often than not, that turns into a conversation. Now a caveat here. Everything I just said in the last like two minutes, at least 90 seconds, is advice, right? So it may or may not work for you. But it’s a system that I put in place for myself after doing a lot of this research. It’s the way that I applied the research. And the big lesson is whatever is unique and authentic for you that is a system where you’re regularly checking back in with these dormant ties, that will work. You’ve got to be comfortable doing it. But once you do it, stay consistent with it so that over the period of a year, you’ve checked back in with all of those dormant ties. And the next time they need or you need them, it’s not an awkward ice-breaking conversation. It’s just another conversation.

Tim Ulbrich: So building on that example, couple examples you gave there of thinking about people and interacting with them, looking for opportunities, things they’re posting already, naturally, people are putting content out there, photos out there, they’re opening the door to have that conversation. You mentioned putting a holding place on an Outlook calendar. I want to talk for a moment more about this idea of operationalizing this research and making it practical and maybe even what you do in terms of a system because I think that the manual process of thinking of people, putting them on an Outlook calendar, could work for some time. But all of a sudden, you identify hundreds of these dormant ties and you want to engage them maybe on a quarterly basis, twice a year, even more. Are there systems, tools, things out there that can help people or maybe that you even use in this process of trying to both identify and engage with these individuals?

David Burkus: Yeah, so there are. There are a bunch of different digital tools. There’s two that come to mind immediately. There’s a tool called Levitate, which basically sits on top of your email and monitors who you’re talking to and how frequently you’re talking to them. And there’s a tool called Contactually, which does the same thing plus I believe Twitter, and they’re working on LinkedIn. So they’re trying to have it penetrate into social media too. And the idea is you then tell the system, you pull up your whole list of contacts, and you tell them, here’s how frequently I want to make sure I’m interacting with that person. And you’ll get an email — I mean, if you’re really off, you’ll get an email every single morning that says, “Here’s the new people that it’s been 90 days or six months or a year since you’ve spoken with.” And now you know who to put in the front of your mind for that day or those couple days. The interesting thing is I find that — so I’ve used a lot of those. I’m a big fan of Contactually, the founder is a friend of mine, etc., so that’s my full disclosure type of thing. And they work really, really well. What I’ve found is that if you use them for a year to two years, you start to not need them because you start doing that organic, you know, this person popped into my head and I took the 20 seconds to fire off an email or a text message to them. We’re not talking about a huge amount of time and a computer reaching back out to everybody all at once. We’re talking about a couple seconds every single day to check back in with people. And then yeah, making the time to have a conversation a couple days later, etc. And so what I’ve found, like on Contactually, for example, I still get an email every morning because I set it to do that. And every morning, I get an email that says, “You have zero tasks today.” I mean, every once in awhile, I’m like, ‘Oh, somebody fell through the cracks,’ and I actually get a reminder, which is great. But if you start to develop that habit, right, of slowing down when a name pops into your head and just taking the 20 seconds to reach back out to them, you end up not needing a lot of these tools. They’re a great place to start, they eventually teach you that habit, and then you’re good to go.

Tim Ulbrich: So as I mentioned to you earlier, before I had a chance to talk to you, I wanted to practice this after learning about your research. And so I was out there doing a little bit of a search, and I didn’t run across Levitate. I think I saw Contactually, and I also ran across a tool called UpHabit. And what was incredible is it identified people, you know, to this whole idea of dormancy and weak ties, it identified people that at one point in time, these were individuals that I maybe spent a year with on a longitudinal leadership program or I’d worked on research projects with or I’d worked with, had very strong relationships, had invested in making those relationships, and just out of the busyness of life, moving, and other things, haven’t kept in touch with them. And just the simple messages you alluded to reaching out to them sparked an entire conversation and even led to other things and collaborations. And so I would encourage our listeners, you know, whether you do this manually, whether you find a tool, give it a try for three months, six months, and see what happens. And I think really seeing your research come alive in practice has been a whole lot of fun for me personally and I think will be the case for others as well. So David, it just makes me think as we talk about tools and apps and systems to build connections, some people out there may be thinking, oh, this feels kind of impersonal, like I’m really trying to get people to be a part of my network and really see what value I can get out of it, which I don’t think is what you’re saying. What would you say to those that say setting up a system or trying to identify who you have to have contact with and scheduling them and those types of things just doesn’t feel very personal?

David Burkus: Yeah. Yeah, yeah, yeah. I get it. It’s one of my anticipated questions whenever I give a talk is the, ‘Well, this feels inauthentic.’ And I totally get that. But let me take you back from the dormant tie over to the close contacts. Right? I have reminder on my phone, I have my wife’s birthday on my phone, and then I have a reminder set seven days out of when her birthday is. Why? Well, I need to make a restaurant reservation, I might need to look for a gift, etc. Right? The fact that I set that reminder, does that make me inauthentic? No. I care enough to make sure that I don’t forget. And that’s I think the same thing that applies to those tools. We put systems in place to make sure that we seal out of our close contacts in our — for lack of a better term — real life or in our friend and family life — that’s why actually the book is called “Friend of a Friend” as opposed to any other sort of work term. The big lesson is that it’s about the whole network. There is no work and life bucket. It’s all just friends of yours, connections of yours, and we take the time to care enough about these other people, and sometimes it means putting a system in place. Why wouldn’t we do that with our professional contact as well? It’s not that we’re doing this so that we can be inauthentic. Now, you can use these tools to be inauthentic by just, again, doing the thing where you’re just saying happy birthday every year or clicking the little button that says, “Congrats on your work anniversary” on LinkedIn. You can do that. What we’re talking about is setting systems in place to remind you to then organically, authentically, and with intention, reach back out to people because you’ve declared that your relationship with them matters so much that you’re willing to put in the effort.

Tim Ulbrich: Yeah, I love that, the idea that creating a system and operationalizing the system really shows the value and the effort in the relationships and how much you care. One of the concepts in the book, David, you talk about is referred to as structural holes. And I find this very interesting and timely for our profession of pharmacy where I think it’s easy that we get caught up in connecting with like-minded pharmacy professionals when really, in fact, I believe we need to be branching out beyond the walls of pharmacy to other healthcare professionals, the business community, others beyond that, to really be able to effectively address the complex problems that we’re facing in healthcare. Talk to us more about this concept of structural holes.

David Burkus: Yeah. So networks are not egalitarian, right? You already figured it out because you have close contacts, and you have weak ties, that people cluster. We cluster by — I mean, the No. 1 way we cluster is literally proximity. So you work in a university system. Two fascinating studies of universities shows that professors, the people that are most likely to co-author a paper with, are the people they work in the same office with. And like literally if I move you to a different floor, the likelihood of collaboration drops. So proximity is one, right, but then even by function, it’s easier to have conversations with people who were trained in the same thing that we do, work in the same department with us, and so we end up spending a disproportionate amount of time. Over time in an organization, that creates the silos, the politics, the turf wars, all of that sort of stuff. In the bigger network that is our industry or our country or our world, people still tend to cluster around similar ideas, similar ideologies, similar training, similar backgrounds, etc. That creates what the sociologist Ronald Burt coined the term, structural hole, a gap in the network where there isn’t someone connecting one cluster to another cluster. And these are a huge problem for information flow because, I mean, ultimately, like I said, the idea about networks, networks exist to transfer information. That’s why you want to get involved in. You need information. But you also have information to share. And the other thing that happens, we know about — my first book was about creativity and innovation. We know that innovation is much more likely when you have a diversity of ideas and voices contributing to something. So structural holes become a huge problem. So if you take it upon yourself to close one of those structural holes, there’s a tremendous amount of value that gets unlocked for you. We would call you a broker in that situation, someone who’s decided to broker the connection between one cluster and another, to build a bridge. Usually, you start it through looking at those weak ties, those people you know who are in a different part of the healthcare industry, for example, or a different part of the organization, and being deliberate and intentional about reaching back out to them, that builds the relationship, and now suddenly, this cluster is better connected — both of the clusters are better connected to each other than they were before. That puts you in a broker relationship. Ronald Burt, actually — I love this quote — Ronald Burt wrote that the people who sit in the gap, the brokers that occupy the structural holes, are at the greatest risk of having great ideas. Right? So you think about the pharmacy industry, for example, it used to be that it never changed. It was a pretty consistent model. Right? It was the same thing as medicine. My wife works as an ER doctor, same deal. It used to be that nothing ever changed. And then suddenly, boom, everything is shifting around, the roles are shifting, it’s a much consultative role than it was before and we’re using AI and machines to outsource the stuff that doesn’t take a lot of highly critical thinking, etc. What will be the currency of navigating that change will be ideas. It will be information, and so the people who are at the greatest risk of staying employed are going to be those people who are occupying those structural holes.

Tim Ulbrich: That’s what I was just thinking about as you were talking about structural holes and those that broker it is that if somebody’s listening and they want to make sure they’re an invaluable asset to the community, to the organization they live in, or even if they decide to leave, you know, they’re going to be that much more valuable when they go to their future employer and they’re negotiating that opportunity is find a way to fill those structural holes. I think here at Ohio State, we have a university of 50,000+ students and just in the health professions, you’ve got medicine and pharmacy and optometry and vet med and dentistry, all relatively siloed. But there’s very few people, but they exist, who really can intentionally sit in those gaps. And it’s amazing what happens when you really start to open up those opportunities for collaboration through filling those holes. You also talk about — and this builds off of the example we mentioned at the beginning in terms of those that really have a disproportionate to connect with others. And you refer to them as ‘super-connectors.’ And I think this is interesting. When I first heard this concept, the first thing I thought of was the concept of compound interest, obviously relating to finance, and that really, over time kind of takes a life of its own because as you connect with more and more individuals, especially if you get to a certain level, of course, those networks are then going to be reaching out to you, and it just begins to take on a life of its own. So talk to us about this concept of super-connectors and who are those people and why they become that.

David Burkus: Yeah. So it’s actually sort of two concepts in one, right? So super-connectors, those are the people that are already well connected in an industry. These are the people you look at and you’re like, ugh, networking comes so easy to them. These are the people you silently hate, even when you cheer for them to succeed because it all just comes so easily to them. They’re the people who have a disproportionate amount of connections, the 80-20 Rule, the Power Lull, etc., exists when we graph the number of connections that individuals have. A small group of people are connected to lots of people, and the rest of us fit the down the long tail of that distribution. What’s interesting to me isn’t that super-connectors exist, what’s interesting to me is how they got there. And that’s where another phenomenon in network science called preferential attachment starts to develop. And it is literally compound interest, if you want to think about it that way. What happens is that as networks grow, evolve, as new people enter the network — just think about it in your own organization. As new people enter a company, who are they most likely to meet? Well yes, they’re going to meet the people they work directly with, but within the first week, they will probably meet the best connected person in that organization.

Tim Ulbrich: Absolutely.

David Burkus: Why? Because all of those other connections are going to introduce them to that person. So what we find is that super-connectors grow their network to a disproportionate level. It often happens organically because they have managed to hit this sort of critical mass where now everything compounds without them having to work. And if you talk to — like from the book, I profile a couple different friends of mine who are these sort of super-connector persons, and I specifically wanted to write about them because I wanted to address a thing they say that I always hated, which is they’ll say things like, “Oh, the key to a good network is subtraction, not addition.” Like well, yes. That’s easy to say when you have tens of thousands of people on your phone, right? For the rest of us, we’re like, I can’t even figure out how to get connected to someone at Walgreens. So super-connectors are the people who are leveraging preferential attachment. The good news, however, is that preferential attachment, it’s kind of like gravitational pull, it’s kind of like compound interest. It doesn’t matter where you start, it accumulates over time. So if you start to be consistent and deliberate about connecting with new people and also nurturing the relationships that you have, preferential attachment comes into play. So yes, there are definitely people who make it look easy. But they make it look easy because at a certain point in time, it wasn’t. And they put in the work to build to that critical mass to let it take over.

Tim Ulbrich: Yeah, and some of the people I think of as super-connectors in my own world — and you talk about this in the book and you give examples to your community as well — again, this concept of networking is a two-way street, right? It’s not about building your Rolodex, it’s about providing value back to the community and back to the network as well, and we talk about that with social capital. But these people, what I notice they do really well, is they also are constantly connecting people into others within their network or across networks to provide value and service or to help them solve a problem that they’re struggling with. So I think you talked through examples where if you’re in conversation with somebody or somebody else is in conversation with somebody else that they may not necessarily be the best one to be able to solve that problem, but they can help connect them with somebody else, which in turn, obviously expands their network further.

David Burkus: Yeah, that’s exactly right. So if you think about, again, the purpose of networks is information, and if you think about you’re standing in front of somebody, whether you’re talking to them for the first time or the 500th time, they’re facing a problem, they’re facing an issue, just the statistical likelihood that you are the person that has the information that they need is very, very small. You’re telling me about a problem you’re having with your electric work at your house, I’ve got nothing. I’ve got a phone number of a guy you should call. That’s all I got. Right?

Tim Ulbrich: Yeah.

David Burkus: But in reality, that’s all of us almost all of the time. The likelihood that our experiences are going to be what could help them is small compared to the likelihood that we know someone who actually has that expertise. And so the best way we can provide value to individuals is usually through the network, the group of connections that we’ve already built up, the people that we already know, and offer to make that introduction. Now, what’s amazing about that is that also helps the network when we make those connections. This goes back to Adam Rifkin and the idea that a network, the more resilient it gets, the more people interconnected inside of that community, the stronger it is. It also builds what we would call social capital, the value of all of the connections you have, and it builds your own reputation as sort of a generous person as well, which makes it more likely that new connections are coming your way. You don’t have to be that sort of — Adam Grant would use the term “Master” where you’re, ‘I introduce you to somebody, now you owe me.’ You just take care of the network, and over time, the network takes care of you.

Tim Ulbrich: Yes. Absolutely. One of the common sayings connecting this to personal finance is that someone’s network will ultimately be reflected in their net worth. And I was thinking about why that may be the case. I mean, there’s so many potential reasons from some of the things we’ve talked about where as you meet more people and you’re building that network and providing value and vice versa, that’s going to take on a life of its own, which of course is going to open up more doors, you’re building your personal brand, you’re probably increasing your confidence and that can translate to negotiation and all types of things. Do you think there’s a direct connection between somebody’s network and their financial position and where that may come from?

David Burkus: Yeah. I mean, I generally love to debunk trite phrases like that, but this is one where it does tend to work out that way. And the reason, again, is that information idea. It’s twofold, right? You’re looking for information to grow your own career, you’re looking for a new — I don’t know — investment opportunity, whatever it is, you end up having access to more information and hence, more options because of that. The other thing is that, quite frankly, people rub off on other people. We respond to the social norms of the people that are around us. There’s some research that actually suggests this is not just our close contacts, but it’s a ripple effect out three degrees of separation, so the people that they know and the people that they know. So the communities that we’re a part of have a big effect on this as well. The example, Tim, to use an adjacent field, to go into my wife and I in medicine, there’s a lot of people, especially in ER, who work a ton and have zero net worth. Right?

Tim Ulbrich: Yeah.

David Burkus: And the reason is that they bought the boat and the lake house and all that other stuff, and they figured out like, oh, I can just work extra shifts, I can do overtime, and I can pay for it all. And the irony is then they’re in the community of people that own the boat and do the lake house and do the whatever, right?

Tim Ulbrich: That’s right.

David Burkus: And it’s actually the people that are pulled out of that community that are in the well, what matters is paying off my house. What matters is getting rid of all of this student loan debt, all of the stuff that got us there, those sort of things matter. That community that you’re a part of shapes your decisions as well. So and that’s the short term. The short term is that it shapes your decisions. The long term is that when you’re looking for opportunities or opportunities just find you, they’re much more likely to find you when you’ve got a broad, diverse network — again, I should rephrase that — when you’re a part of a broad and diverse network of people.

Tim Ulbrich: So David, in addition to getting a copy of your book, “Friend of a Friend,” which is available on Amazon, Barnes & Noble, Indiebound, where can our listeners go to learn more about the work that you’re doing?

David Burkus: Yeah, so the single best place to go would be the Your Financial Pharmacist podcast show notes.

Tim Ulbrich: That’s right.

David Burkus: Because my website’s great, it’s DavidBurkus.com. But if you can’t remember that, Burkus on Google, I’m like the only one with a web presence, which has been amazing and probably won’t last. But there’s a bunch of different links that you can click, but they’re going to be in the show notes anyway. While you’re there, you might even click over and leave us a rating if you really liked this or click over and buy the book because if you liked this, you’ll love that too. If you hated it, you’ll hate that too. So I would actually say go there first. And then yeah, if you want to go to DavidBurkus.com too, that would be great.

Tim Ulbrich: Well, I really appreciate it. I thank you so much for your time. And again, genuinely, your work, your research, has had a positive impact on me. And I know that’s going to be the case as well for many of our listeners. So thank you so much.

David Burkus: Oh, it’s my pleasure. Thank you again so much for having me.

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YFP 102: An Interview with Dr. Suzanne Soliman: Founder of the Pharmacist Moms Group


An Interview with Dr. Suzanne Soliman: Founder of the Pharmacist Moms Group

Dr. Suzanne Soliman, Founder of Pharmacist Moms Group, joins Tim Ulbrich to dive deep into her motivativation for launching the group, resources the group offers, where this movement is heading and how she carves out time for her business.

About Today’s Guest

Dr. Suzanne Soliman earned her PharmD from the University of Illinois at Chicago in 2004. She then completed a residency in primary care with an emphasis on education at Midwestern University Chicago College of Pharmacy and a teaching fellowship at the University of Illinois at Chicago College of Medicine. Suzy worked as a clinical pharmacist, a medical science liaison and national field team educator prior to becoming an Assistant Dean of Academic Affairs at the University of Illinois at Chicago College of Pharmacy. She most recently was an Associate Dean at Touro College of Pharmacy New York and an independent pharmacy owner.

Suzy has 75 publications and has presented at numerous national meetings. She is a Rufus A. Lyman award recipient which is granted for the best manuscript published in the American Journal of Pharmacy Education. Suzy has served as a medical expert on a number of pharmacy issues and has been a reviewer for Annals of Pharmacotherapy and Currents in Pharmacy Teaching and Learning. She has been quoted in “Crain”, “Chicago Business Magazine” and “Time Out Chicago”. Currently, she is the Chief Academic Officer for the Accreditation Council for Medical Affairs (ACMA). Her areas of interest are assessment and development of medical affairs professionals.

Summary

Dr. Suzanne Soliman began the Pharmacist Moms Group after feeling guilty for missing her son’s baseball game. When training to be a pharmacist, so many had said that it was a great career for moms because it had such a great schedule. Conversely, Suzy found that she was working late nights and weekends which caused her to miss her children’s events and games. After not being able to sleep one night because of the guilt, Suzy created the group on Facebook because she wanted to connect with other pharmacist moms who were experiencing what she was. Today, the group boasts over 25,000 members.

The Pharmacist Moms Group offers several resources to its’ members and focuses on creating a strong support network no matter what phase of life you are going through. The Pro Group Membership is now offered which includes resume review, expert talks, continuing education credits, and additional support. The group also offers discounts on two board certifications.

Suzy didn’t expect the growth that the group has seen and hasn’t put in any money to advertise. It has simply grown from the support that is offered to one another. There are 8 moderators and admins that are involved with the Facebook group. A Director of Research has been added to the leadership team to focus solely on research. Although she feels that there is never enough time in the day, Suzy finds time to work on this movement in the early morning or evening when her children are sleeping and answers emails whenever she’s in line waiting for something.

As far as personal finance is concerned, Suzy sees that the main financial challenges the group faces are regarding student loans and 529s. Suzy’s advice to anyone who is overwhelmed with student loan debt or is frustrated that they aren’t progressing in their financial plan in the way they want is to live within your means, be comfortable with unforeseen circumstances, and get or create a side hustle to bring in extra income.

Suzy is passionate and incredibly motivated to help propel woman in pharmacy in equality and to step into leadership positions.

Mentioned on the Show

Episode Transcript

Tim Ulbrich: Hey, what’s up, everybody? Welcome to this week’s episode of the Your Financial Pharmacist podcast. Over the past year, as you know, we’ve been featuring several inspiring side hustle stories — shoutout to our team member Tim Church, who’s been leading that — as well as several entrepreneurial journeys. And we have another great one for you today. I’m excited to welcome Dr. Suzanne Soliman to talk about her career journey, her work in founding the Pharmacist Moms Group, and to discuss the financial challenges and questions that are top-of-mind for their 25,000+ members. So a little bit about Suzi before we jump into the interview today: Dr. Suzanne Soliman earned her PharmD from the University of Illinois at Chicago in 2004. She completed residency training in primary care with an emphasis on education at Midwestern University Chicago College of Pharmacy and a teaching fellowship at the University of Illinois at Chicago College of Medicine. Suzi worked as a clinical pharmacist and medical science liaison and national field team educator prior to becoming an assistant dean of academic affairs at the University of Illinois at Chicago College of Pharmacy. She most recently was an associate dean at Touro College of Pharmacy in New York and independent pharmacy owner. She has over 75 publications, has presented at numerous national meetings, she is a Rufus Lyman award recipient, which is granted for the best manuscript published in the American Journal of Pharmacy Education. She served as the medical expert on a number of pharmacy issues and has been a reviewers for the Annals of Pharmacotherapy and Currents in Pharmacy Teaching and Learning. She’s been quoted in Crane, Chicago Business Magazine and Timeout Chicago. Currently, she’s the Chief Academic Officer for the accreditation council for medical affairs. Her areas of interest are assessment and development of medical affairs professionals. Suzi, welcome to the Your Financial Pharmacist podcast!

Suzanne Soliman: Thank you, Tim. Thanks for having me on the show.

Tim Ulbrich: Yeah, excited to have you. And now that we know a little bit more about your background, let’s talk about your work in building the Pharmacist Moms Group, which I have to say, you and I talked a couple years ago, so I’ve been able to watch this journey from afar, when you were just beginning, seeing it grow. There’s now more than 25,000 members, and I saw on your website, there’s over 2 million posts, comments and reactions on your Facebook page in 2018. So clearly, you have identified a need, a pain point, and area of interest where there’s others that are desiring for or have a problem that needs to be solved. So tell us a little bit about the Pharmacist Moms Group.

Suzanne Soliman: Sure. So thank you for the introduction and everything. But the Pharmacist Moms Group, it just kind of started. And I know I’ve talked about this before, but basically, my son, who had a baseball game and I couldn’t attend because I was working, and I felt really bad. You go into pharmacy a lot of times — I know a lot of my mom friends have said this — go in because you hear, oh, it’s a great profession to be a mom, you know? And then what I found was I was working late, I was missing games, I was working weekends, and I felt bad. I couldn’t sleep one night, so I decided to start this group. I went online and invited my friends and just said, you know, “I feel really bad. I feel this guilt, and I don’t know what to do.” And I felt that other pharmacists could relate. There were other moms groups that I was a part of, but I really felt that I wanted to talk to pharmacist moms because they went through similar type of rigorous education or residency or fellowship training. So for me, I felt that I really wanted to connect with other pharmacist moms. And what I found was that a lot of other women felt the same way that I did. And the group has just kind of grown from there. It’s really just been a support group, a group for each other to bounce questions off of each other, whether they’re personal questions, not pharmacy-related, or pharmacy-related. And so we’ve kind of just grown from there and you know, really learned from one another.

Tim Ulbrich: I think when you say “kind of grown,” I think you’re being humble, which I appreciate. But “exploded” might be a better word. But I think clearly, you’ve got great brand recognition with what you’re doing. And I love that it’s not just about growing a business, growing a brand, like you’re doing it out of obviously motivations of developing a community and support and resources for one another, something that you felt like you needed and obviously others, that has resonated with. So let me ask you this, so you mention on your website that the goal of the group is simple, the Pharmacist Moms Group, to create a supportive community full of cool resources for pharmacist moms. So what does that practically look like? If somebody were to come to your website or join the Facebook group or the community, what exactly does that look like in terms of the community and the resources that you offer?

Suzanne Soliman: You really hit the nail on the head because I think for me, I’ve always been passionate about women and pharmacy and that entire area. I mean, it just speaks to me. I love it, and I’m passionate about it, and so what I found was that what our group offers — and we’ve evolved. So you know, initially, it was just kind of questions. And then someone said, “You know what? I’m learning so much from this group, why don’t we earn Continuing Education for some of these posts?” So we’ve partnered with a CE company, and we’re now earning Continuing Education credits. We’re also a supportive network, so we’ve had pharmacists going through divorce, going through loss. We’ve tried to connect — when there was a pharmacist who was actually shot working in the pharmacy, we tried to raise money for her and her technician. We’ve really tried to support one another throughout our careers. There’s new moms on there, there’s mothers who are grandmothers now who are on there who’ve gone through a lot and can offer a lot of experience and knowledge to one another. And we offer a pro group now where you get a resume review included. We have a book club. Just mountains and mountains of different areas. And we’ve also started these little subgroups now because the group is so large. So we have an independent pharmacist moms group, so if you own your own independent or you’re thinking about it, and the hospital pharmacy group. So we’ve kind of started forming these smaller communities within this large community.

Tim Ulbrich: So for those that are listening that haven’t already checked out or aren’t aware of what you’re doing, head on over to PharmacistMomsGroup.com or certainly the Facebook group I think is a great point to jump in, lots of different areas. I know you’re active on Instagram and others as well. So I want to talk a little bit from a business perspective. You know, as you’ve experienced such a significant growth in a short period of time — and I can tell that you’ve evolved, you know, when you think back to your son’s baseball game and when this initial idea came to be, could you have envisioned what this looks like right now? I mean, did you see the vision and it was just a matter of time to build it? Or has this really evolved over time as you took one step and then you identified another need, another need and then another need.

Suzanne Soliman: Yeah, I think it’s more of the latter. So I did not expect this at all. I always tell everyone, I haven’t put in any money for advertising. This is really just a community that’s grown from the support that we offer one another and from being kind to each other and trying to help each other and really be there for one another. And it’s evolved. So like I had mentioned, when someone brought up the idea of the Continuing Education, we’re like, you know what, that’s a good idea. Let’s try to do that. Or if they brought up the subgroups, you know, I have a question, but I really want to group it or send it only to these pharmacists. So we’ve really evolved. And one of the things that was great that we identified from the group was that women were graduating for the past four decades at higher levels than male pharmacy students. So we’ve graduated more and more female students. But we didn’t really recognize where they’ve come. So we established the first Women Pharmacists Day last year, and it will continue this year. So again, it’s just been — I want to say evolving throughout this time. And it’s been great. It’s been a lot of fun, I’ve met a lot of great people. I’ve made a lot of new friends. And I am just so passionate about this area, and I think that it’s an area that we really need to provide support for. We need to remember that there are women who are working retail and at a retail chain store, and they might have babies at home, and they need to pump at work, and there’s no place to pump. We need to be their voice, we need to let everyone know about that.

Tim Ulbrich: What I’ve really enjoyed, Suzi, watching from afar — obviously, I’m not a pharmacist mom, so I’m not in the group — but watching the growth and the interest is that when I hear you talk about the community and supporting one another, I mean, at the end of the day, any great business is built off of providing great value. And you know, I think of Seth Godin, and he talks about the concept of tribe and building a community that is passionate about helping one another and moving a certain issue or advancing a certain topic forward, and I think that’s what you’ve done so well here. And I think you and I both would agree on this, at the end of the day, if you can find something you’re really, really passionate about, and it can empower and help other people and you can ultimately make a business of it, that’s a win-win all around. And I think that that’s what makes all of this so much fun. So talk to me a little bit about the business model. So we may have people out there listening to this podcast thinking about, hey, I’ve got this great idea, and maybe it involves community directly, maybe it doesn’t. But ultimately, even though you grow something, you’re investing time, you’re investing some resources, obviously probably time may be the most significant one, but at the end of the day, as you think about this in terms of a business for the future, what does the model of this look like for you in terms of either sponsorship for the pro group? So talk to us more about the business model of Pharmacist Moms Group.

Suzanne Soliman: I’m still unsure of the actual business model. I didn’t set out for it in that way, but ultimately, you’re right. It takes hours and hours of work, so the main thing is that we have moderators and admins, and I have a great group of pharmacists that I’ve met who are really involved. And right now, it’s about the time and energy that we’re putting into the group. So I think that there are so many of us now. There’s like eight of us, actually, and we actually have one woman who’s focused solely on the research aspect. So for me, it’s also about the research part of the group. As a former professor and administrator at two colleges — or three colleges of pharmacy, I understand the importance of data and having the data behind it. And with numbers where we hit 25,000 pharmacists, surveying them, understanding their needs, presenting this at national meetings, talking about what people out in the field are experiencing that those working in a different area might not realize that they’re experiencing. So I think for me, that’s been an area that we’re planning to focus on. So one of the moderators now in our group, that’s her area. She’s kind of the Director of Research. Her name is Eva Ferris-Colon (?), she’s going to be kind of the Director of Research for the Pharmacist Moms Group. And anyone who’s interested in studying or surveying us and finding out about different areas, so that’s definitely something that we’re planning. And for me, it’s really going to continue to evolve. I think that ultimately, my goal for this group is really to empower women pharmacists and help their careers, help them in their careers, help them propel their careers, help them answer questions so that they don’t feel alone. I know myself, sometimes you’re alone in a pharmacy. You might be working only with technicians. And when I say “alone,” like without peers at a similar level. So you might have techs that you’re working with, but you might not have another pharmacist to bounce a question off of or you might be working on a team in a hospital, but you might not have that pharmacist with you as well. So for me, that’s really where we’re going. Facebook asked us — now going back to the business question — so Facebook actually approached us and they asked us to start this subscription model. So we started the pro group, and it’s been great. Really, within that group, we’ve incorporated a lot of the Continuing Education, the resume review, different ideas, bringing experts like yourself to come and talk to the group, which has been great. And I think that’s where I see the business for the Pharmacist Moms Group going is that we’re kind of a one-stop shop where you can hear from these experts, you can have your support group, you can have your laughs, your jokes, and you can earn your CE and kind of do everything at one point. And if you need a resume review yearly, that’s included too. So that’s kind of where I see it going.

Tim Ulbrich: Yeah, I really like what you’re doing with the pro membership concept. I think that’s a business model for others to think about is that you’ve got lots of resources and opportunity for people to engage and develop a community that could happen for free, but also, there’s a subset of people that want to engage at a different level. And I think again, you know, it’s an investment of time and resource and other things. And so I think your pro membership option allows that. And so, to put a plug in for that, if you go PharmacistMomsGroup.com, you’ll see information on there about the pro membership. It’s $59.99 per year, and it looks like there’s a coupon code, SAVE10 for $10 off your first year. And so as I understand it, Suzi, essentially then there’s a package of resources or additional benefits that people get in the pro membership that they may not necessarily otherwise get. So member-only CEs, monthly member-only live sessions, live trainings, you mentioned the resume review, exclusive discounts, and so I think that model is something to consider for others that are of value and different options for their business as well.

Suzanne Soliman: Yes. We actually recently just partnered with two — so we have two different board certifications that you can get a discount on too, so the board certification for MTM. If you’re a member of the pro group, you can get a discount on it. Board certification for medical affairs, if you’re a member of the pro group, you can get your application fee waived. So there’s different benefits as well. And then we partnered with Mama Jamas, and they’re a company —

Tim Ulbrich: I saw that.

Suzanne Soliman: Yeah, so they offer — they actually started out in Nordstrom, and they have this amazing clothing line, and so we get discounts for that. So there’s a bunch of different areas that we’re able to offer discounts for for pharmacist moms.

Tim Ulbrich: So let’s talk for a minute about personal finance as it relates to the Pharmacist Moms Group. And I know you and I, as you mentioned, have partnered on several education sessions, actually doing one this afternoon, which I am excited about for your pro group. And based on these sessions, the feedback that I’ve seen and seeing the mention of personal finance as a topic of interest on your website, you know, I presume this is a topic that’s frequently discussed among your community members. So what are some of the financial challenges that you see your community is facing?

Suzanne Soliman: So I think the No. 1 thing that I always see posted is really to do with student loans and paying them off or not paying them off. And there’s so many people who have — they do have the money to pay it off, and then they’re wondering if they should or if they should just wait. So that’s the first thing. And then the second thing is more my personal question that I would love to ask you — and I do see it posted from time-to-time, but it’s really related to 529s for children because for me, my husband and I have put in money for our children into them, but I always wonder if we’re wasting our money putting it into the 529 because what if our kids, for example, get a scholarship? Or what if another child decides they don’t want to go to college? And what happens to our money? So I guess I’m always hesitant when we do it. I understand the tax benefit, you know, but then I’m always nervous about well, what if in 10 or 15 years, this child is like — I don’t know, something happens that’s different than what we thought of.

Tim Ulbrich: That’s a great question, actually something my wife and I have talked a lot about. And let me just address that briefly because we really haven’t talked about 529s on the podcast a whole lot. So this is a good opportunity to do it. And actually, I think that was one of the questions submitted by your members that we’re going to address this afternoon in the Facebook Live as well. You know, the reason I struggle with 529s — and I will say my wife and I, so we have contributions for all three of our kids in there right now. I would say we’re kind of meddling in the middle. Like we really haven’t gone all-in and in part, for us, what I struggle with to the 529s is certainly a great tax advantaged savings vehicle, it essentially operates like a Roth IRA for college. So money you put in, it’s already been taxed, and it’s going to grow, grow tax-free. You can pull it out as long as you’re using it for educational benefits, which is pretty broad. I mean, it could be tuition, it can be board, it can be books. And one of the advantage, especially if you have multiple children, is the opportunity to transfer it within the family. And I believe within siblings, so like I could transfer it to my brother’s kids, for example, if for whatever reason, my kids weren’t going to use it. So let’s say my oldest son decides not to go to school for whatever reason or he gets a scholarship, but my other two do, I would have the option to transfer it. So there is that flexibility, which has the advantage. The thing I struggle with, Suzi, a little bit is what does the future of college education look like?

Suzanne Soliman: Yes, I know. Yeah, yeah.

Tim Ulbrich: I mean, right? So you know, I know you have your oldest is 15, is that right?

Suzanne Soliman: Yeah, so he is. So I guess that’s the thing. So some of the schools — I’m sure you’ve seen this — but in New York now, public education is free. And I don’t live in New York, but I’m wondering, you know, will that happen in other states? Will that happen in the state I live in? Especially my daughter, my youngest, my daughter is 5, and who knows what’s going to happen in 13 years with education? And then my 15-year-old is — he has a disability, so sometimes I wonder with him, he might not go to school. So then what happens to that money? So I wonder with all of that as well.

Tim Ulbrich: Yeah, I mean, you’re thinking through it the exact same way my wife and I are. I mean, with I think kids that are closer to college, the system in three or four or five years may very much look like today, but what will it look like in 10 or 15 years? Will free college be normal? Will it keep going up at rates that far outpace inflation and now all of a sudden, we’re going to be up a creek because we didn’t save as much? And I think that’s why we are kind of meddling in a little bit of the middle. We’re contributing, but I’m hesitant to overcontribute. You know, part of my thought is that on some level, if somebody’s in a position where they have no student loan debt, maybe even a house is paid off or close, you know, other goals are on their way to being achieved, retirement, other things that there’s an opportunity to cash flow some of that or even look at alternative options for taking on lower interest rate debt they could pay off. The other thing is, while I would never favor this option, there’s an option to pull money from a Roth IRA for educational expenses that doesn’t get hit with a tax in terms of a penalty, that 10% penalty. So that’s another alternative option. So my wife and I are looking at a combination of since we don’t know what it’s going to look like, we don’t know scholarships, free, all that kind of stuff, maybe they don’t want to go to college, you know, we’re going to have a little bit there, but we’re also going to hopefully cash flow some of that along the way. The other thing, Suzi, I’ve seen — I don’t know if you see your community talking about this — is that I think a lot of pharmacists, especially if they’ve come out with let’s say $150,0000-200,000 of student loan debt, they tend to overcompensate for their situation at the expense of their own other financial goals. So for example, somebody may say, ‘I came out with $200,000 of debt. I absolutely never want my kids to experience any of that. Therefore, I’m going to pay 100% of it,’ but that’s at the expense of saving for retirement or making sure that we have a solid emergency fund, or they’re still carrying around high interest rate debt themselves, and they might be on one hand helping the future with their kids’ college, but on the other hand, overcompensating and hurting their own financial plan. So I think certainly for each person, it’s different. But I think that’s a word of caution I’d give to any of your audience members or our listeners at large is that I think there’s a tendency to overcompensate for what we experience personally and really to try to take a step back objectively and think about it in the context of other goals.

Suzanne Soliman: Yeah, that makes sense. That makes sense.

Tim Ulbrich: So Suzi, we often talk with pharmacists, they could be moms, dads, singles, it really doesn’t matter, and hear that they’re overwhelmed with student loan debt, they’re frustrated that they’re not progressing as fast as they would like to be with their financial plan. Based on your own personal experience or what you’ve seen as success stories within your community, what advice would you have for the pharmacist moms out there or even the others at large in terms of those that are facing multiple competing financial priorities and how they can begin to tackle that? Or where should they start in terms of their financial plan?

Suzanne Soliman: So I think that for me, I’m still paying my student loans. But my student loan rate when I graduated — my interest rate is unbelievable. It’s under 2%.

Tim Ulbrich: Crazy.

Suzanne Soliman: Yeah, it’s crazy low. So I’m personally the person who’s waiting the full 30 years, given my rate. And I think that you have to be comfortable — if you are waiting, you have to be comfortable with some level of debt where some people I know, they have the 1%, and they’re just like, no way, I’m going to pay that off. I can’t handle having the 1%. But I’m like, but if you put your money somewhere else, you’re going to earn more than 1%. You know? So you have to feel comfortable with it. If you’re battling it, I mean, for me, I look at if something has a high interest rate, just pay that off first or something that’s smaller, you’d want to pay that off first too. But I think for me, what I’ve realized is that I think sometimes when you’re in pharmacy school, you’re like, I’m going to graduate, and I’m going to go make these big bucks, and once I graduate, I’m just going to be earning so much that I can pay everything off. But then life happens, right?

Tim Ulbrich: Yes.

Suzanne Soliman: And you have to get a car, and you want a new car because now you’re Dr. Such-and-Such, and you might have done residency. And for myself, my friends were earning six figures, and I was earning $32,000. That was a big difference in salary. So I think that life happens, and different things happen, and it’s really about — I mean, for me, it was trying to live within your means for awhile and then realizing again, then you have children that might come along, might or might not, you know? And you have other expenses. I mean, I was just saying that actually on the phone with my mom today. I had fixed my one car, you know, one car got hit on the garage, and I had to go fix it. And then what happens, I was like, OK, fine, that happened. Then my boys were outside playing basketball, and of course, they break the side view mirror with the basketball. I’m like, I just think that my miscellaneous budget is going to be under this for this month, and then something happens. That’s how life is, so being comfortable with what comes at you and just that we have to all be comfortable with that. You don’t know what the unforeseen circumstances that might come your way. So I don’t know, for me, I don’t necessarily think you have to pay all of your student debt off immediately, but if you do, I’m sure that’s a really, really great feeling. But if there are other things that are more important and then the second thing is always having a side hustle or something else. I mean, when I was in residency, I was still working for one of the chains, you know, kind of as a floater. And then I always tried to do something else or tried to have a couple incomes or sources of income. So that’s always been very helpful for me, at least. It might not work for everyone, but for me, it’s helped.

Tim Ulbrich: I think so. And I think especially, you know, obviously it’s well documented what’s going on in the job market and in many parts of the country, 32 is the new 40 in terms of committed salary, and we’re even seeing some compression in that hourly rate for a pharmacist. But I think a side hustle — not only from the financial piece but also from the pursuit of something you’re passionate about. I mean, there’s something to be said for an area, whether it’s a creative outlet, whether it earns money, maybe a little bit, maybe a lot of bit, to be able to get energy from that I think is one of the often overlooked aspects of a side hustle. So Suzi, let me ask you for the dads that are out there listening to this episode, what advice would you have in terms of how they can best relate with and effectively work with their significant other when it comes to this topic of money? Probably one of the most common questions we get is, hey, I’m really trying to progress the financial plan, but I feel like me and my spouse aren’t on the same page. And we know that certainly is a topic that’s difficult to navigate. So any words of advice from either you personally or what you’ve heard in your community of how somebody may be able to effectively work together with the spouse or significant other?

Suzanne Soliman: You know, OK, I am no expert. But I think that in general, from what I know of either from myself or my friends or within my group community, typically, there’s one person who spends more, and there’s one person who doesn’t. So you know, there’s one person that’s a saver, and there’s one person that’s the spender. And I actually don’t really know many couples where they’re completely aligned. And I think that’s any relationship that you’re in. If you’re in a committed relationship, you just have to find balance between you because you’re never going to — whether it’s related to finance or anything else, you’re not going to find someone that matches your ideals perfectly. So going back to the dads out there, if your wife spent something extra on something, talking about it, but understanding that maybe she has a different level of comfortability. Or vice versa, maybe the dad is the spender, and the mom is the saver, and so understanding that the level of comfortability, having conversations about that I think are important, about levels of risk. I think risk is a big one. So I grew up in a family where risk wasn’t — it wasn’t as tolerated, maybe. So I grew up, my parents taught me, never have credit card debt. If you charge something on a credit card, you have to pay it off immediately. If you don’t have enough cash in the bank, you don’t use it and you don’t use it at all. So I think I was very risk-averse. So even certain things, it’s hard for me to stomach, like purchasing a house, I’m like, oh my gosh, that’s a really big amount of debt you’re going to take on. But then I realize that you know what, that’s just because of how I grew up and things that I was told. But it doesn’t necessarily mean that — some debt is good. And that’s where I began to become comfortable, like I had mentioned, with my student loan debt and saying, you know what — and that’s where I started to invest in the market and become familiar with the market, become familiar with mutual funds. I actually have taught my 7-year-old — he’s 7, and I’ve been teaching him how to check the market and different things.

Tim Ulbrich: That’s awesome.

Suzanne Soliman: So it’s been fun with that. But yeah, I think when it comes to relationships, I think the finance part of it — yeah, you generally hear that’s what people disagree on. But I just think that you have to understand that most couples, whoever you’re with, you’re probably going to disagree with them on certain things. I mean, eventually, you’re going to come to an agreement, but if she really likes those shoes or if he really likes that new electronic, you’re both going to have to be OK with that, you know?

Tim Ulbrich: Yeah, and I think to highlight what you said there too is also just being aware of that and appreciating what the other person is. I think that there’s no good or bad in a spender and a saver. I think each of them has benefits, and I think often when you have those different money personalities, I think that can be a powerful combination when you get to the point of appreciating it really challenging each other in both of those areas. And I think risk is a great one. You know, you take the idea that you have two people that are very conservative with their financial plan, that may have some significant upsides in some areas, but it also may put a ceiling in terms of what you’re able to really do and grow long-term with your wealth and achieving the other goals that you want to achieve.

Suzanne Soliman: Definitely. I think for me, like what changed my mind was initially, I was doing the savings and my father was saving everything, and he had plans to retire at 55 and he was investing in his 401k’s and would sometimes stay at a lower-end hotel because he wanted to just save. And then my dad got cancer, and he died, you know, quickly. So he never got to enjoy his money or experience it or see it, and what’s interesting is my mother-in-law also passed. She was a teacher, she had a pension, she had everything. She passed at 62 from a brain tumor. So I guess I saw loved ones who never got to get to retirement and enjoy, and that’s what also shifted me to begin to see that, you know what, sometimes, it’s OK to spend. It’s OK to splurge because we’re not sure if we’re going to get that day.

Tim Ulbrich: Absolutely. Yeah. And I want to give credit here — Tim Baker does a great job of this. He did with my wife, Jess, and I and others that we work as well, just asking those kind of questions and playing those scenarios out. I mean, if you were to really conservatively save for 40 years and then for whatever reason weren’t able to enjoy it, health, something unexpected, whatever be the case, I mean, what is the point of all of this to begin with? So really identifying that why, that purpose, and I think it’s about balance, right?

Suzanne Soliman: Yeah.

Tim Ulbrich: It’s about not spending outside of your means all the time now, kind of the YOLO concept, but also it’s not about just squirreling away money for 40 years and then hoping you’re healthy enough to be able to enjoy it, so I like the concept Tim Ferriss’ 4-hour workweek, he talks about mini-retirements and this idea of really enjoying this time throughout your career. And I think you can still wisely save up for it and spend it, and I think you can accomplish a little bit of both of these along the way. So let me ask you a few questions in terms of thinking about your business, the direction going forward, and how you balance all of this in terms of full-time job and business. But first, let me start with, you know, we both know well that starting a business, it’s obviously exhilarating, but it’s also difficult. It can be a grind at times, you know, in terms of the time you’re spending, especially as you’re balancing family activities and other things. So what keeps you motivated as you continue to press forward with the Pharmacist Moms Group and that growing while you’re also managing your full-time job?

Suzanne Soliman: So for me, it’s really about my passion. So for Pharmacist Moms, it’s just what I want to do. It’s kind of what I’m really passionate about: women and pharmacy and making a difference and seeing changes and bringing things to fruition. For me, it’s what I wake up early about, and I can’t wait to look at different things related to pharmacists and women and read papers about it, and I get enjoyment from it. So I’m smiling here because this is — I don’t necessarily think of it as business. I really think of it as we’re a movement, you know, of women who are going to change pharmacy for the better to really help pharmacist women and propel our careers, to just do a lot. So you know, it’s just my passion. And I think when you’re passionate about something, it changes everything.

Tim Ulbrich: So how do you, Suzi, how do you practically carve out time. It’s a question we often get, hey, I’m really interested in starting a side hustle, but with family or job, I just don’t have energy, I don’t have time. What has worked for you in terms of being able to prioritize and cut out time in your schedule to work on the Pharmacist Moms Group?

refinance student loans

Suzanne Soliman: There’s never going to be enough time. Ever. For me, I wake up early. So you know, I try to wake up by like 5 o’clock in the morning, before my kids are awake, so I can get some work done during the quiet times. Or I’ll stay up late and get things done when my kids are sleeping. So for me, something’s got to give, right? So for me, it’s been my sleep. So I don’t necessarily do that. I never watch TV. I mean, I rarely if ever, ever, ever watch TV. And I know that’s not great, but I just don’t watch anything on the television except I hear what my children are watching Teen Nick or they’re watching Disney Junior, and I hear that going on in the background. So I know what they’re watching. But I don’t. So for me, it’s just making the time. So if I’m picking up my kids from school, a lot of times, I’m on my phone, checking my email while I’m waiting for them to come out. Or in the morning, when I’m waiting for my drink if I’m at Dunkin Donuts, I’m checking things. I’m sure — there is time somewhere. But something’s got to give. And so during my workouts, when I work out, I listen to podcasts so I’m learning and I’m learning new information at all times. For me, that’s what works. And I just think, again, there’s never going to be enough time. And constantly, if you ask my husband, that’s literally all I ever say is, “There’s not enough time in the day,” like, “I have so much to do,” so it’s really about prioritizing what needs to get done. And I think I said this to you earlier, like I’m really bad at checking my email. So if anyone emails me, I’m so sorry. Like sometimes it takes me a week to get back. And sometimes, I never get back. And it’s just because I look at it — text me if you really need to find me, text me or Facebook Messenger me. I’m a little bit more responsive on both of those, but it’s so hard to keep up. I get so much spam email too that it’s like, I just have — if you look at my inbox, I’m embarrassed to say this, but my inbox on my iPhone, I think it has over, yeah, 228,000 unread messages. So it’s crazy.

Tim Ulbrich: Well, what I like about that — I know I mentioned this to you as well before we recorded — is that, you know, I often feel that itch with email as well, but I try to sometimes take a step back. And if you think about vision of what you’re working on, your movement, or you think about legacy, which I’m going to ask you here about in a minute, you know, at the end of the day, those are the things that you’re going to remember and that are going to have an impact, right? So certainly, email is a necessary evil at times, but it is so easy to spend a day in email and actually do nothing to move the business forward or move the movement forward. So I think that for those that are out there — and this is true with a website, you know, somebody’s trying to start a business and they’re focusing on business cards or website design or all these things, it’s easy to get sucked up into these details that may not actually help you progress and move things forward. So legacy — let me ask you about legacy. And I asked this to Blair Thielemier when I interviewed her on Episode 089 and Ashlee Klevens-Hayes on Episode 095, and it’s one of my favorite questions because I like to hear what people are thinking about in terms of legacy. And I think at the end of the day, this is really one of the things that matters when we think about why are you doing all of this to begin with. And you’ve answered this a little bit, but I’d like to hear a little bit more on this as well. So when you think about the work that you’re doing with the Pharmacist Moms Group today, obviously, what you’re doing is going to be left behind for others to build upon or for others to consume. And for your kids, ultimately, to admire and say, “Yes, that was my mom who did that.” So as you think about what you’re doing with the Pharmacist Moms Group and we fast forward 30, 40, 50 years, what do you want the legacy to be with that work?

Suzanne Soliman: For me, I think that we’ve really helped propel women in pharmacy to really show equality, I want to say, that there’s certain areas that I think that we still need to work on, whether it’s women in leadership positions within pharmacy or some areas of salary as well, especially in academic centers, females are paid still less than males. My goal is to raise my children to be good people that would make — I’d feel like that’s the most important thing on a personal level is that my children grow up and that they’re honest and kind human beings and that they care about others. That’s the ultimate legacy or I think the ultimate way to raise my children. For the group, it’s really just to support women in pharmacy to hopefully one day say that we were able to change the percentage of U.S. college of pharmacy deans, 25% right now that are women, to 50%. I think that is one of the major goals. Or independent pharmacy owners, that more of them are women, that more management, more leadership, that one day we’ll have a retail chain pharmacy CEO that is a female. I think that all of those areas are definitely important for me. They speak to me, they speak to my group, having better maternity benefits for a lot of these women that might have to go back to work right away, that they don’t have a second income to rely on, and they are the breadwinner, and they have to go back, but they’re facing issues with raising their children and working. And I think there are so many things. I think that ultimately, what I would like to create is a group of women that care about one another, that support one another, that bring each other up, you know, that we all really will support one another no matter what. I’m really big on that, on being loyal to one another and helping each other.

Tim Ulbrich: And you’re definitely doing that. So that is awesome, and I appreciate you sharing some of that. And I would encourage for those listening that are thinking about starting a side hustle, starting a movement, starting a business, whatever you want to call it, taking some time to reflect on that question of, what is the purpose of all of this? And if we fast forward 20 or 30 or 40 or 50 years, what is the legacy that you hope to leave in that journey? Because I think that as you get into the details and you get into the weeds and you’re trying to balance schedules and you’re getting up at 5 a.m. and you’re maybe sacrificing time with family at times, really keeping that front and center of the purpose of what you’re trying to do is incredible. And Suzi, one of the things that I’m excited about is we have this kind of movement and pharmacy entrepreneurship that’s going on. I think about the work that you’re doing, I think about the work that Ashlee Klevens-Hayes and Blair Thielemier, Tony Guerra, Alex Barker, I mean, the list keeps going on and on, but thinking about there are certainly as we think about the kids that all of us have, they’re observers of what’s happening. And my kids are young enough, they may not necessarily articulate it, but it’s going to be fun to see what that next generation is going to do as they certainly are going through this time of being a part of it, either indirectly or directly. Last question I have for you is on your website, you had mentioned one of your favorite quotes is “Live life as if everything is rigged in your favor.” Tell me more.

Suzanne Soliman: So that’s from Rumi. So I’m a big believer in everything that might happen, you have to find the good in it. So there have been things that have happened in my life, even decisions or choices that I have made that might not have been the best decisions or might not have been — or choices or things that have happened that have been very difficult. And I think, though, you’re faced with a choice at that point. And you can either feel bad about it — and I did, and I have felt bad — but I think really when you think about it and you think that maybe this happened for a reason, you know, whether it’s — it could be anyone about losing a job, losing a parent, losing someone close to you. It could be going through a divorce, it could be, you know, just different areas, struggling with anxiety, struggling with depression, struggling with substance abuse. It could be any area. But remembering that whatever you might struggle with — it could be struggling with finances, you know, that maybe this happened to you for in your favor. I mean, it could be moving away to a different area and losing your network of friends and contacts and having to start all over and realizing that, you know, God or the universe or whatever you want to call it, placed you in that position for a reason. And you’re in that position for a reason, and now, it’s really to challenge yourself to find out why you’re in that place and learn from it and grow from it. And I think that that’s the beauty of that quote and how I like to live my life, that no matter what happens, there’s got to be some reason why I’m going through that at that moment.

Tim Ulbrich: Awesome. Thank you. So before we wrap up, is there a specific book or podcast or blog or something that you’re reading or listening to that you would recommend to our listeners?

Suzanne Soliman: So I always recommend this book. I’ve listened to it multiple, multiple times. It changed my life. It is called “The Universe Has Your Back” by Gabby Bernstein. I’m not sure how many people are into these kind of books, but it’s one of the most amazing books, and it helped me when I was struggling at certain points in my life. And I have listened to this book. I actually listen to books more than read them because I just don’t have the time to read anymore. So I listened to it multiple times, so I would recommend that to everyone. And I listen to “Super Soul Sunday” by Oprah all the time, so I’m a big Oprah fan. And anything with Oprah, I love listening to and I’m very inspired by and I find it very inspirational.

Tim Ulbrich: Awesome. Thank you for sharing that. Thank you for coming on the show, sharing the work that you’re doing at the Pharmacist Moms Group. Truly, it has been an inspiration to watch. I continue to look for ways that we can partner and continue to see that group grow and thrive and just congratulations on the awesome work that you’ve done on achieving that mission and vision that you had. So where should our listeners go to learn more about you and the work that you’re doing with Pharmacist Moms Group?

Suzanne Soliman: Sure. They can go right to the website. They can go to www.PharmacistMomsGroup.com, and they can find out more. Or if they want to reach me, they can send an email — like I said, they can try to send an email through that page as well or find me on Facebook or on my Instagram or even Twitter, that I sometimes use as well. So.

Tim Ulbrich: Awesome. So maybe social media instead of email, right? That’s what we learned.

Suzanne Soliman: Yeah, definitely. That’s probably better, yeah.

Tim Ulbrich: Awesome. Thank you again. And for our listeners, if you’ve liked what you heard on this week’s episode of the Your Financial Pharmacist podcast, please leave us a review and rate us in iTunes or wherever you listen to your podcasts each and every week. We’re grateful for your support of the work that we’re doing. And if you haven’t yet, check out YourFinancialPharmacist.com, we’ve got lots of free resources, guides, calculators, tools and checklists to help you on your path towards achieving financial freedom. Have a great rest of your week.

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YFP 101: How to Get Started with Podcasting


How to Get Started with Podcasting

Dr. Hillary Blackburn joins Tim Church on this week’s episode to talk about her unique pharmacy career at Dispensary of Hope, her side hustles, and how she started the Talk to Your Pharmacist Podcast.

Summary

Dr. Hillary Blackburn is a clinical pharmacist, Director of Pharmaceutical Services at Dispensary of Hope, creator and host of the Talk to Your Pharmacist podcast and the Founder and CEO of the Natural Products Resource Center (NPRC). She joins the YFP podcast to speak about her unique pharmacy career and side hustles.

Hillary grew up in Mississippi and graduated from the University of Mississippi. She always thought she would end up in medical school, but after being on clinical rotations she saw how broad of a career pharmacists can have.

Hillary has worked in several capacities as a pharmacist but loves the role she holds as the Director of Pharmaceutical Services at Dispensary of Hope. Dispensary of Hope is a charitable medication distributor that distributes medication to uninsured people in 31 states and over 160 pharmacies and clinics. Her day-to-day schedule at work varies, but you can find her attending meetings, answering emails, planning, and presenting on current pharmacy trends often. She explains that her job is a blend of managed care, management, public health and mission.

After being in Nashville for a year and meeting her husband, who is also very entrepreneurial, Hillary got that entrepreneurial itch, too. She loves to listen to and read content about pharmacy and pharmacy trends and decided to start the Talk to Your Pharmacist Podcast in Spring 2017. She sought guidance in her network and worked with two people in Nashville to learn how to start a podcast. Now, Hillary does everything from start to finish, including identifying a guest, researching the guest and topic, scheduling, recording, and editing. She has since been able to monetize the podcast through sponsorships from companies that have organically found her. She was first approached for sponsorship after releasing 40 episodes in Talk to Your Pharmacist Podcast’s first year. Hillary only supports and suggests brands that she’s tried and believes in.

Hillary is also the founder and CEO of the Natural Products Resource Center (NPRC). Additionally, she also has created Residency Bootcamp evergreen webinars which provide on-demand training to coach people through the residency process. Hillary also moonlights for a retail pharmacy chain. Her extra money is going to a lot of saving, travel, and planning for a family.

Hillary really enjoys her job at Dispensary of Hope and doesn’t find it to be stressful. She’s able to find time to balance her side hustles with her life by prioritizing her health and being driven by passion.

Mentioned on the Show

Episode Transcript

Tim Church: Hillary, thank you so much for taking the time to come on the show and for being part of this side hustle edition.

Hillary Blackburn: Awesome, thanks, Tim. It’s an honor to be a guest.

Tim Church: Yeah, we’re reciprocating, right? Since you gave me the opportunity last year. That was really cool to be a part of your show.

Hillary Blackburn: Absolutely. Yeah, I love getting to share with other pharmacy leaders and even getting to meet them in person. Tim Ulbrich was just down in Nashville a few weeks ago and had the pleasure of getting to connect with him as well. So always fun to do some collaborations.

Tim Church: Yeah, when we met last year in Nashville at the APhA annual meeting, it was pretty easy to tell that you’re somebody who’s not only passionate about our profession but also entrepreneurship. So it’s always fun to get a chance to talk with you.

Hillary Blackburn: Yeah, yes. It’s fun to be with other like-minded pharmacists for sure.

Tim Church: So can you talk a little bit about your career path as a pharmacist?

Hillary Blackburn: Sure. So I’m Hillary Blackburn, currently director of pharmaceutical services at Dispensary of Hope, the creator and host of the Talk to Your Pharmacist podcast and the founder and CEO of the Natural Products Resource Center. So clinically trained and have been practicing for the past eight years in a variety of settings. So my career has taken a few, you know, unexpected paths but ultimately, have led me to where I am today. So you know, after attending pharmacy school at the University of Mississippi, I definitely selected rotations to get a very broad experience in clinical rotations but even served as an intern during two summers with the Health Resources and Services Administration’s Office of Pharmacy Affairs in Washington, D.C. Even attended APhA Summer Leadership Institute during one of those summers, which was an excellent experience if any students get the chance to go. And some of you may know that HRSA, or the Office of Pharmacy Affairs oversees the 340b program, which is a program to support the hospitals and clinics across the country who are serving the safety net population. And this was a really unique opportunity because I was able to explore more of that public health standpoint and how to operationalize a national program. And growing up in the Mississippi delta, I was very familiar with some of the lower income population and just had a passion to give back and serve in that way. So after graduating from pharmacy school, I completed my PGY1 residency at the University of Mississippi Medical Center and continued on with that clinical care of being in the ER and ICU, rounding with the internal medicine teams, even having experiences in the ambulatory setting. And you know, after residency, I moved to Nashville and thought I was going to continue on in that path with hospital and really clinical pharmacy but realized that I wanted to change that a little bit and actually worked in the independent pharmacy setting for a family friend and then spent some time working for a health plan, learned all about the prior authorization process, you know, refined my formulary management development skills, and then worked at a specialty mail-order pharmacy. So all of those different experiences really have kind of culminated into where I am now, which is full-time at the Dispensary of Hope, which is a charitable medication distributor, for those of you who aren’t familiar. So since 2012, Dispensary of Hope, which is based in Nashville, has assembled a collaborative of most of the largest drug manufacturers in the pharmaceutical space and most of the largest health systems that are serving the uninsured. And so what we do is we partner with these pharmaceutical companies who donate medicine to us as a wholesale distributor, and then we distribute it to clinics, FUHCs, charitable pharmacies and hospital outpatient pharmacies across the country, serving over 160 pharmacies and clinics in about 31 states now.

Tim Church: Wow.

Hillary Blackburn: So it’s really grown a lot, and this was a role that didn’t exist before I started in this position. And so I’ve been able to really create this as my own, you know, unique role and have really expanded those responsibilities. So not only am I still maintaining our formulary, which I started doing as a volunteer when I had some of my other roles, but now I’m consulting with pharmacy leaders across the country, sharing expertise on affordable medication access, helping with any strategy development for implementing programs to address gaps in pharmaceutical care, lead our research and create tools for successful program implementation and help maintain partnerships with some of our external partners such as colleges of pharmacy. So it definitely keeps me busy, but I still have some time and some passions for some other projects.

Tim Church: So what’s your day-to-day look like at the Dispensary of Hope?

Hillary Blackburn: Yeah, well, it varies, which I thoroughly enjoy. So because we’re also a distributor, we do not see patients, which I do miss that aspect of pharmacy practice. There’s definitely a value of being able to see that direct impact on a patient’s life that you’re helping and improving. But day-to-day, it varies anywhere from, you know, attending meetings with the rest of our team. We do not have any other pharmacists on staff. I do have pharmacy students that are on rotation with me. So we’re really bringing that clinical expertise to the organization. And so you know, sometimes I’ll be doing a lot of emails and having to maintain that professional persona and thinking about strategic things like that, planning presentations. I’ll be going over to South Carolina to talk with the South Carolina SHP or ASHP division, talking about healthcare is getting disrupted, is pharmacy ready? So excited to be traveling and giving some presentations about current pharmacy trends, which is a lot of what I do with my podcast, Talk to Your Pharmacist. So it definitely varies, but I usually have a pretty full plate, which keeps me busy. And I enjoy having students to share that kind of mixture of a little bit of managed care management, public health and mission.

Tim Church: That is just really interesting just because obviously, it’s not the most traditional type of pharmacy position. But what I find very fascinating is just the role that you’re playing and how far the reach is. You mentioned 31 states, multiple facilities that you’re helping facilitate the distribution. I just think that’s amazing.

Hillary Blackburn: It is. And you know, being able to visit the pharmacists and pharmacy technicians that are actually doing the work and taking care of patients is probably my favorite part of my role is when I get the opportunity to go out in the field and learn from them too because then I’m able to bring it back and put together resources and share those best practices across our network of pharmacies and clinics.

Tim Church: That’s really cool. Well Hillary, in our profession, there is a lot of negativity with pharmacists’ job satisfaction, just the role in general. What do you like about being a pharmacist and about your job in general?

Hillary Blackburn: That’s a great question. And you know, I’ll tell you what. When I was planning to go to college, I thought I was going into med school. You know, my parents actually encouraged me to apply to Ole Miss’ early entry pharmacy program. And you know, all along, I kind of thought that I was still going to go to med school. But it wasn’t really until my fourth year of pharmacy, getting to do all of the awesome rotations and see the great diversity that pharmacists have opportunities for, and I mean, it’s just blown up even since I was in school. But that was really the exciting — where my passion just really kind of took off about all of the different opportunities: pharmacists being in the pharmaceutical industry or playing integral roles all throughout the hospital setting and then, you know, now we’re really seeing pharmacists heavily embedded in physician practices and finally being recognized with some provider status designations in certain states. So I think we’re going to start to see that happen in different states, you know, as we’re moving from fee-for-service to value-based care, it’s going to be so important for pharmacists to demonstrate the value that we bring to the healthcare team. So I think that’s something that we all need to keep in mind.
Tim Church: Yeah, I definitely agree. So you’re doing amazing things at the Dispensary of Hope and reaching a lot of people. But at what point did you say, ‘You know what, I have this entrepreneurial itch, and I really want to start a business or just do something in addition to my full-time job?’

Hillary Blackburn: Yeah. You know, I have always been a multi — or I guess just very disciplined about time management. Growing up, I played just about every sport. Being from a small town was great in that I had a lot of opportunities, so I’ve always been really regimented with my schedule. And so staying busy is something that I enjoy. And so after pharmacy school and then residency and then being in Nashville, after I’d been in Nashville for about a year or two, and then met my husband, who’s very entrepreneurial, Nashville is just such a great place for entrepreneurism and innovation in healthcare. And you know, starting this podcast was something that, you know, I had been listening to podcasts about entrepreneurship, I loved “Entrepreneur on Fire,” “How I Built This,” “TED Talks,” there’s “Masters of Scale” is one by Reed Hoffman, the founder of LinkedIn. I had been listening to all of these and thought, wow, I’d love to be able to consume content about pharmacy and all of the different trends and things going on there, so much is happening, and it’s hard to keep up with everything. And so that’s really in the spring of 2017 was kind of when I had this vision, and I’m such a doer, you know, once I get something in my head, I’m like, OK, I’ve got to do it. And so you know, it was created really for pharmacists and student pharmacists and others who want to hear from industry leaders about their leadership stories and perspectives on healthcare topics. And it’s just been kind of a fun passion that has turned into, you know, a revenue source. So it’s always great whenever you can fund your passions. So it’s been a really fun journey.

Tim Church: Definitely. So what are the ways you’re monetizing it right now?

Hillary Blackburn: Yeah, so you know, I really had no expectations on the podcast. I thought, you know, I’m just going to start doing it, and see where it goes. You know, of course some goals would have been like, oh, I’d love to get a sponsor or do affiliate marketing or maybe doing a podcast will lead me to get some paid speaking or consulting engagements, which is really I put it all under the umbrella of the Pharmacy Advisory Group, so I could do advising for companies and things like that. But actually, the way that I’ve monetizing it is some of these companies have just organically come to me. So you know, I’ve just stuck with it, with I think I’ve produced — let’s see — over 40 episodes in the first year. So I was almost releasing one a week, which I have been doing that now because I have a sponsorship commitment. But after doing it almost a year, I was approached by Theraworks Relief, which is an over-the-counter muscle cramp reliever, you know, and have been working with them for since August of 2018. And I don’t support any — or I’m not going to sponsor any products that I don’t fully support and believe in. And so after learning about the company, getting a sample of it, you know, I mean, I went through all of that. And I can honestly say that I use it and have got family members who use it. So for me, I don’t necessarily get a lot of cramps as typically, you might when you get older, have some electrolyte things, Restless Leg, things like that. But from like workouts and things, I guess I tend to use it for that. But I’ve got family members using it. And then secondly, another company, Rx Destroyer, is the newest sponsor that we are partnering with. And it’s a really neat company as well. And they’re a chemical drug destruction solution. So basically, it inactivates medications using activated charcoal. They’ve got, you know, a unique mechanism there. But it’s a drug disposal solution for individuals, you know, we’ve got kind of the opioid crisis right now and people don’t want to have all of these unwanted meds at home. So they can get that product at Walgreens or for businesses. So long-term care facilities, the other facilities who have to be responsible for destruction of medications. They can use this Rx Destroyer, and it helps protect our water supply, they’re compliant, so it’s been really fun that those two companies have been able to essentially seek me out and have been — I’ve really enjoyed being able to work with them and, you know, share about their great products with the pharmacy community.

Tim Church: Yeah. And I think that’s really cool, like when you fully believe in products or services, it’s pretty easy to promote those. And that’s similar to what we do on this podcast as well. But making sure that you vet those companies and services that basically, you’re going to trust them yourselves or with your family members, promoting them or encouraging them to use those. So I think that’s one thing that’s really key because unfortunately, there can be a dark side. I know a number of podcasts or just webistes, and they’ll basically promote anything, you know, just based on the traffic that it gets, so I think that’s a really cool process in the way that you took that approach.
Hillary Blackburn: Yeah, I definitely don’t want to promote anything that I don’t fully believe in, so.

Tim Church: So talk about some of the struggles, the challenges, just getting a podcast up and running because — now, I can’t take credit because the other Tims were the ones that really got this one going from the ground floor — but obviously, there’s a lot involved. So talk a little bit about the beginning stages, what was tough for you? What were some of the challenges?

Hillary Blackburn: Oh, there was a lot of tough things because it’s just like anything when you haven’t done it before, you’re like, well, how do I take the next step? So I was really lucky in getting to connect with two other guys here in Nashville who were really generous about sharing their stories. Matt Bodnar has a really successful podcast called “The Science of Success,” and he’s basically outsourced his entire production, which is certainly something that I would love to do. He can basically come in, read the guest bio and everything’s pretty much done. He’s just the personality and can kind of handle all that. Now, someone else was sharing a little bit about, you know, Zincaster. Tim, you and I, we both are using that as our program to be able to do the recordings. But there are plenty of other recordings, and so this friend, David Schiffrin (?), who works with Health Further, which is a health, I guess, they were solely doing conferences, but they’re doing a little bit of a transition, but all about the future of health and bringing different stakeholders together. He shared how he was doing their podcast, and you know, actually showed me Zincast. Seeing it, I’m very visual, getting to see how it worked, how you do the recording, it’s saved in DropBox, you’ve got to find a host for that, a host site to host your podcast. And so right now, I’m still doing start-to-finish everything from identifying the guests, which for me, that’s the easiest part is I feel like I’ve got a great network of people. I’ve been really fortunate to — I’m pretty extroverted, I guess you could say, for a pharmacist. And I enjoy meeting people and staying up-to-date on news, so that’s the fun part is getting to talk to and identify guests. But you know, you’ve got to do the scheduling and then —

Tim Church: And the editing.

Hillary Blackburn: And the editing and the recording. I use GarageBand for my editing. And so none of these things were things that I knew beforehand. Luckily for me, I thought, yeah, my husband’s really techy, I’ll just go to him to do it. He said, “No, no, no. This is your project. You need to learn.” So there is a true value in YouTube videos. So you know, a lot of YouTube videos, learning how to do some of the editing, you know, you just have to stick with it. And the first episode that you do or the first thing that you do in your — maybe you’re going to do video, whatever you do — it’s not going to be perfect. And I know a lot times, pharmacists are perfectionists. But you just have to get Version 1 out there. So once you get Version 1 out there, then you can kind of start refining and get in the groove. And once you’ve done one, so you know, the whole like “see one, do one, teach one,” once you’ve done it, then you are kind of on your way.

Tim Church: Wow. It’s impressive that you’re doing it all, and we’ve had some help recently after I think Episode 050 just because it is very time-consuming. That’s what I was going to ask you is what’s a typical amount of time for you to take an episode from completely fresh start all the way to finished product?

Hillary Blackburn: Well, I would say in total, the time to connect with the guest, prep, get my questions, do the interview, do the editing – I do have a template that I have for editing, so that helps – and then uploading it and revising on SoundCloud, I would say is probably about 2 hours. I’ve kind of got it nailed down now.

Tim Church: Yeah, it sounds like it. Because I remember I think one episode, I had to edit. And it took me I think at least 2 hours to just do the editing because the tracks were off between the guest and the host or something like that. And I just like, I thought to myself, like this is terrible because I just didn’t know the best ways, how to be efficient on that. But I think like you said, you can definitely cut down the time on a lot of the tasks. But even just getting it up to iTunes, up to that point, just the tasks of actually putting it live, there’s a lot of things involved. And then there’s a whole other animal of actually promoting it. One of the things that you do is really cool is you – I don’t know if you’re using the same tool as we are, we use I think it’s WayForm or Wave or something like that? But how you’re showing the different clips or the audio clips with guests, it’s a really cool way that you’re putting out your podcast when you release those.

Hillary Blackburn: Yes, and that’s something that I learned from someone else. So another pharmacist, Meghan Nicole (?) who’s with the Lazy Millennial, I saw her do it and interviewed her as a guest and I’m like, ‘Meghan, how do you that?’ And so as long as we’re sharing information, you know, just helping others out. So I think that’s really important.

Tim Church: Well, I think you’ve done a great job, and I’ve listened to a number of the episodes, and it’s really cool the variety of guests that you bring on, the topics that you discuss and obviously, it’s doing well and it’s successful because I think you’re up to – what? Episode 074? 075 right now?

Hillary Blackburn: Yes. Yeah.

Tim Church: Yeah. That’s incredible. I mean, I’ve heard stats that so many podcasts, they stop producing after just a small number of episodes. So I think that’s cool that you’ve kept it up and persevered because I know there’s some weeks, depending on how involved you are, where it can be tough to manage everything else you have going on and make it be successful.

Hillary Blackburn: Totally. But you know, batching some of the work, as we were talking about earlier, is helpful. And you know, sometimes at a point, you do have to do some outsourcing like getting an intern to help or a student pharmacist helping me grow my Instagram business, that was definitely with a little bit of help from one of the pharmacy students here in Nashville, she’s been awesome, Christy Fritch (?), she’s over at Belmont. And I think she’s now doing APhA’s student Instagram account, so she’s one of the people behind that now. So she’s been awesome. So yeah, you’ve just got to be able to kind of know what you can do and when you need to bring in other people and make it most effective in that way.

Tim Church: So besides the podcast, I know you’re doing a couple other things for side income. Can you talk a little about those?

Hillary Blackburn: I’ve also done a couple of things, I have a passion for students and love doing precepting but realized that residencies are becoming so competitive, so I hosted two webinars before the residency interview process really got started and charged a little bit for that. But, you know, a reasonable amount for a student. But then put all of that content together into an on-demand, online course on – and that’s available at ResidencyBootcamp.teachable.com. And so that’ll be available next year and the next year. So it’s really evergreen content and at an affordable price. So next year, when students are ready to look at interviews and things, but it’s really applicable for any interview process too. So you know, a lot of those things are transferable. The final thing that I do, and it’s helpful to stay in touch with what’s happening in the retail setting is I’ll still do some moonlighting for a retail pharmacy chain. And it helps to keep me up-to-date on what’s happening in that space. But it’s always helpful to have a little extra fun money for shopping or different things.

Tim Church: Is that where most of the additional income is coming – is that where it’s going?

Hillary Blackburn: Well, so we actually are really fortunate because we do a lot of saving. So we live off of my income solely. So you know, a lot of times, people are living on two incomes and then you add another person, and then you take away an income, and then you’re like, whoa, we’re used to this extravagant lifestyle. So you know, we’ve been really diligent about trying to live off of one income since we’ve been married. But we still love to travel. I mean, we’ve taken amazing trips to Greece, Cuba, we went to Thailand for our honeymoon. We’re always doing some kind of adventure trip, whether it’s even to family vacations to Whistler, Breckenridge, but we enjoy to travel. And you know, doing fun things around Nashville. But we also have a good balance, so having that budget of getting used to living on one income has been really helpful as we’re getting ready for the next phase of life and planning for family and all that kind of thing.

Tim Church: So how do you manage all of these things that you’re doing with your full-time job and personal life? Because I hear from a lot of pharmacists who say, you know, “I’m just trying to make it at my full-time job and keep sanity at home,” with their significant other or their family. What seems to work best for you?

Hillary Blackburn: Well, I really enjoy my job. And so I don’t have a lot of stress from that. But when I am home, you know, I really try to make sure that that part of my life is healthy too. So getting 8 hours of sleep, drinking – you’re supposed to drink your body weight divided by two, like that many ounces – so like drinking enough water, exercising. I’m a big fitness person and love to do triathlons and things in the summer. You know, we don’t watch a lot of TV. So I don’t come home and turn on the TV. Oftentimes, I’m not even turning that on. I’m working on – I’ll make dinner, make sure I’ve had a workout in and have some quality time with my husband and you know, maybe I’m preparing for Bible study or something. But sometimes, it just depends. You have different seasons of life, and sometimes I do feel really busy, like last year, there were definitely seasons – you know, 2018 was a pretty big year for our family, but I think that you’ve got to be able to prioritize and make sure you’re taking care of yourself.

Tim Church: I definitely agree. And I think you hit it there where there’s seasons where you’re going to be really shifted in one direction. And I kind of believe in that mentality. There was a book called “The One Thing” by Gary Keller and Jay Papasan. And they kind of demystified and debunked the myth of work-life balance in that if you try to be balanced in everything, what ends up happening is you basically just become mediocre at all of those things. And sometimes, to really achieve the next level of success that you’re going to be shifting in that direction temporarily. And then obviously, you have to come back in order to maintain relationships and other aspects of your life. But it sounds like that’s sort of the way that, the rhythm for the way things have gone for you.

Hillary Blackburn: I would say so, yeah.

Tim Church: So what advice, Hillary, would you give to other pharmacists and even students out there who have an interest in becoming an entrepreneur?

Hillary Blackburn: You know, I would say stick with it. So you’re maybe not going to find the ultimate success within the first week or six months or a year. It’s going to take awhile, so stick with it and keep working hard, put in that work ethic. Stay hungry. So you know, I think that that term is kind of often used at the Entrepreneur Center in Nashville. You want to stay hungry and keep looking for things. I think if you follow some of the great entrepreneurs who are out there doing some awesome things like Tony Robbins and Gary Vaynerchuk and some of the other ones who you’ve got to follow people that you want to be like. So if there are pharmacy leaders that, you know, maybe you want to own your own business. Well, look at who in pharmacy is doing that. You guys have interviewed a lot of entrepreneurs. Start following some of those guests. What do they do? But ultimately, I think that as long as you’re providing value, that’s key. I think something that I’ve really focused on a lot over the past two years is not only personal and professional development, so reading books, so that lifelong learning is just so important.

Tim Church: Yeah, I was going to ask you, which ones would you recommend that have had a big impact on your life?

Hillary Blackburn: Well, I think one of the biggest ones was “Seven Habits of Highly Effective People,” and the sad thing is that I got this book as a resident and felt like I didn’t have time to read it. And then now in my current role at Dispensary of Hope, we read it – or I read that and then as an organization, we read it. And that was just kind of had so many Aha! Moments. But I now use Audible, which helps to consume more of that content, kind of like what I enjoy with the podcasts, being able to listen to it when you’re in the car, traveling, being efficient. Maybe you’re at a workout, trying to get your workout in and read a book. Some of the other great ones that I’ve read about kind of business or entrepreneurship have been “Good to Great,” “EntreLeadership” by Dave Ramsey, “Outliers: The Story of Success” by Malcolm Gladwell. And then right now, I just finished “Crush It” by Gary Vaynerchuk. And so you know, there’s probably so many more – actually Tim Ulbrich recommended reading when I connected with him the one on – oh! “Never Split the Difference.” So that’s kind of been –

Tim Church: Oh yeah, about negotiation.

Hillary Blackburn: Yes. Yeah. And you know, these are just some of these are like life skills. And so how do you handle conflict resolution? And even like learning more about change management. I think John Cotter is the one that has a couple books out on that. You’ve got to be able to lead, and so any type of books on leadership, I think those are all going to be really helpful.

Tim Church: Well Hillary, it’s been a pleasure having you on the show. And really appreciate you sharing your story and all the things that you’re up to. What is the best way for someone to reach out or learn more about what you do?

Hillary Blackburn: Absolutely, I love getting to connect with other people. So first, the website is www.pharmacyadvisory.com, and there are show notes for any of the podcast episodes there and a sign-up for our email list. So when we do newsletters and things, you can find us there. I have a Facebook page and Instagram account as Talk to Your Pharmacist. And you can find me on Twitter and LinkedIn as Hillary Blackburn.

Tim Church: Great. Thank you so much, Hillary.

Hillary Blackburn: Awesome. Thanks, Tim! It was so fun to get to talk with you. Thanks for having me as a guest.

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YFP 095: Level Up Your Career: An Interview with RxAshlee


Level Up Your Career

Dr. Ashlee Klevens Hayes, founder of RxAshlee and creator of the Rx Buzz Podcast, joins Tim Ulbrich to talk about her career journey and passion for supporting high-level professionals to in creating, launching and landing their dream jobs.

About Today’s Guest

Ashlee Klevens Hayes is a third generation pharmacist who set out on a traditional pharmacy path that turned into so much more. She’s an initiator, an entrepreneur and career strategist. After graduating from The University of Southern California School of Pharmacy she completed a 2-year health system pharmacy administration residency at the University of Kentucky and then took on the position of Associate Director of Central Pharmacy Operations at UK. In 2017, she founded Rx Ashlee, a career development company that focuses on business development, branding, marketing, career pivots and interview preparation for highly skilled professionals. Shortly after, she launched the Rx Buzz Podcast on the Pharmacy Podcast Network and started with the University of Southern California School of Pharmacy as a career strategist.

Summary

Dr. Ashlee Klevens Hayes is a third generation pharmacist. She is a career strategist at the University of Southern California School of Pharmacy and launched RxAshlee in 2017. Ashlee completed a 2 year health system pharmacy administration residency at the University of Kentucky and loved it. She enjoyed seeing how quickly outcomes and results could happen. Ashlee and her husband had to move 7 times in 5 years for his job making it difficult to stay in one position for a while. Ashlee transitioned to be a consultant at a startup company and was exposed to a different side of entrepreneurs.

RxAshlee began in 2017. Friends were turning to Ashlee for advice on how to get non-traditional pharmacy jobs and she realized she was able to support people in this capacity. The main trend Ashlee saw was that people were underselling themselves and that they don’t spend enough time or energy on branding so they can stand out on paper and in interviews. RxAshlee aims to help you level up your career and get your dream job.

Ashlee currently works with high-level professionals in creating, launching, and landing their dream jobs. Ashlee offers a variety of packages and services, but is incredibly passionate about interview preparation. In 1-3 hours with a client, Ashlee watches a person transform in their interviewing skills and loves hearing when clients land their dream jobs.

Ashlee reminds you that your education is a starting place and your career isn’t necessarily a direct path. Blending your education with you passions, strengths and what you want to do and then branding yourself as that person will allow you to step into fulfilling work that you want to be doing.

Ashlee reminds people that if you want to make a change in your life, you have to get comfortable with being uncomfortable. Ashlee has a lot on the horizon with her business. She has several keynote presentations in 2019 and is writing a book, among leading a women’s group and working on more courses to launch.

Mentioned on the Show

Episode Transcript

Tim Ulbrich: Hey, what’s up, everybody? Welcome to this week’s episode of the Your Financial Pharmacist podcast. I’m excited to have on here – it’s been a long time in the making – Dr. Ashlee Klevens Hayes. We’ve got an exciting conversation to talk about career development, interview preparation, business development, lots of exciting things, to share her journey on this path to the work she’s doing today. So quick introduction to Ashlee: She’s a third-generation pharmacist who set out on a traditional pharmacy path that turned into so much more. She’s an initiator, an entrepreneur, and a career strategist. After graduating from the University of Southern California School of Pharmacy, she completed a two-year health system pharmacy administration residency at the University of Kentucky, and then took on the position of Associate Director of Central Pharmacy Operations at UK. In 2017, she founded RxAshlee, a career development company that focuses on business development, branding, marketing, career pivots and interview preparation for highly skilled professionals. Shortly after, she launched the RxBuzz podcast on the Pharmacy Podcast Network and started with the University of Southern California School of Pharmacy as a career strategist. Ashlee, welcome to the show, excited to have you.

Ashlee Klevens Hayes: Tim, this has been long overdue. Thanks for having me. This is super exciting.

Tim Ulbrich: Long overdue.

Ashlee Klevens Hayes: I love talking to you.

Tim Ulbrich: So fun. Hey, I thought I knew you pretty well until I started doing my homework for this show and totally forgot about the two-year admin residency. We’re going to talk about that, your inpatient experience, I forgot about that, and – have we made the Buffalo connection before? I didn’t realize you did undergrad at the University of Buffalo.

Ashlee Klevens Hayes: I did. I moved from Orange County out to crazy Buffalo.

Tim Ulbrich: What were you thinking? I grew up in Buffalo, and I was like, why would she move from southern California to Buffalo?

Ashlee Klevens Hayes: I’ll be honest with you. My dad was faculty at the University there.

Tim Ulbrich: OK.

Ashlee Klevens Hayes: And we had some connections, and it just – long story short, it just made sense for me to go out there financially and just in terms of seeing my parents. They were traveling out there a ton, and so I made the commitment. And honestly, the first year was really hard because it was snowing, and I had never been around snow before. But then ultimately, I ended up finding my husband out there. So it was a good move.

Tim Ulbrich: Yes.

Ashlee Klevens Hayes: And I suckered him into coming back to California too.

Tim Ulbrich: I don’t blame you. I mean, it is night and day, right? Buffalo and southern California?

Ashlee Klevens Hayes: Totally.

Tim Ulbrich: I grew up in Buffalo. It’s a great city, but I mean, when you’re used to the sunshine…

Ashlee Klevens Hayes: I loved it there. No, I really did. It was a great just start to my nontraditional path.

Tim Ulbrich: Yes, yes. And we’re going to talk about that. We’re going to talk today about how to invest in yourself; we’re going to talk about, you know, how to set yourself apart. And you’re doing some awesome work in this area. And I really enjoy following your journey and have a lot of respect for your energy and your passion and your commitment in this area. So before we talk about what you’re doing today with RxAshlee and with USC School of Pharmacy – which by the way, is getting around – I had people here from Ohio State ask me about this work that you’re doing at USC, so it’s exciting to see that work.

Ashlee Klevens Hayes: Oh yeah? OK, let’s do it. Let’s talk – I would love to talk to them.

Tim Ulbrich: But I want to start back at the point of graduating with your PharmD from USC. And you make this decision to go into a two-year admin residency. So PGY1, PGY2, Master’s degree, very specific for many that go through this route in pharmacy.

Ashlee Klevens Hayes: Kind of, yeah.

Tim Ulbrich: What was the goal here? And why did you make the decision at this point in time?

Ashlee Klevens Hayes: Well, to be totally transparent, like you mentioned in the beginning, my dad was a Chief Pharmacy Officer, and so I kind of had a front-row seat my entire life to all the unique, different opportunities and journeys that pharmacists could take, but my dad was a huge, pivotal point, a mentor to me forever. And he loved his job. He loved it. He loved the autonomy, he loved the business side, and he also could have some indirect patient experiences too. So I decided to join that bandwagon, and I followed his footsteps. And I ended up at UK. I was the first PGY1, PGY2 health system administration resident under the new leadership at the time. So gosh, now it’s been about 5-6 years. I don’t even remember. And so they’ve had a few others behind me, which has been really fun for me to be a mentor to them and witness them grow their muscle in that field. So you take a traditional clinical residency program and throw in a nontraditional clinical program, and you know, you have growing pains. But ultimately, the goal was for me to come out and to be a manager or assistant director or a, you know, eventually a Chief Pharmacy Officer, which I was totally down that path. I was heading down that path. I was like, this is what I want to do. I want to be a CEO, I want to be a Chief Pharmacy Officer at a healthy system, and things kind of took a change, as you might notice.

Tim Ulbrich: So what I find interesting, Ashlee – I was glad to look that up before we had talked. And we had discussed that before, but when I think of pharmacy operations and I think of you and your strengths and your talent and what you bring to the table, not that you couldn’t do operations really well, but I think you’re a big vision person, you’re a strategist.

Ashlee Klevens Hayes: I am.

Tim Ulbrich: You’re an entrepreneur. So when did that click for you? Because I’m guessing, you know, you went into the operations role post-residency.

Ashlee Klevens Hayes: Oh, I loved it. It was great.

Tim Ulbrich: Yeah, talk us through that transition.

Ashlee Klevens Hayes: It was awesome. And I was exposed to so much at such an early phase of my career that I realized I really like seeing outcomes and results happen pretty quickly. And I just felt like project management and multitasking and working with whole different interdisciplinary groups: physicians, prescribers, nurses, I loved that part of the work. What was hard for me – and Tim, I’ll be totally honest with you because that’s what I do – it was hard for me because my husband had a big job, and we were constantly having to relocate. It happened probably seven times, literally seven times, over the past five years.

Tim Ulbrich: Yeah.

Ashlee Klevens Hayes: And in order for me to have that trajectory of getting to CPO, to Chief Pharmacy Officer, it really just wasn’t ideal. And it wasn’t working. So that’s — at some point, I was like, how am I going to do this whole entire love of operations, project management, strategy, planning, vision, just overseeing so many different projects while still balancing my relocation, which is honestly — I knew going into our marriage that I was going to have to do this eventually, so then you get creative. You get thrusted into this. How do you make all of this work? And at that point, I was the assistant director, and I had an opportunity to transition into be a consultant for a startup company — a consultant in operations, and I did that. And it was so fun. And I was exposed to a whole different side of non-pharmacy work, but it was pharmacy work. It was non-pharmacy because I didn’t talk to patients at all or prescribers. It was just different because I was working with software implementation. So then I was exposed to this entrepreneur side, and I was talking — and the people I was working with had no pharmacy background. They had no pharmacy education, but yet, they were talking the language of pharmacists, and I was like, what is going on here? And it was eye-opening. I was traveling the world, literally traveling the world, traveling across the country talking to different people about our products, and I realized what do I want to do next? You know? What am I good at? What are my skills? And that was really teaching people how to do what I was doing, start a consulting company, go do nontraditional things. And that’s kind of when the fruition of RxAshlee started.

Tim Ulbrich: That’s so awesome. I mean, there’s such a need for nontraditional, you know, career paths, mentorship.

Ashlee Klevens Hayes: Totally.

Tim Ulbrich: And I was looking at your website and stuff before, and just to be able to see that merging of hearing from others that recognize that talent within you and that passion to help others and for me and what I’ve known you for the last 1-2 years, like it makes so much sense. But to hear your journey and where it’s come along was a lot of fun.

Ashlee Klevens Hayes: Yeah.

Tim Ulbrich: So we’re in 2017, and entrepreneurship, the bug sets in. And as you know, once you have the entrepreneurial bug, it isn’t going away, right?

Ashlee Klevens Hayes: No, never. Well, you can try for it to go away. And then it just never goes away.

Tim Ulbrich: Yes, yes. So true. So you start RxAshlee, which for our listeners, we’ll link this in the show notes. It’s RxAshlee.com, RxAshlee.com. So where did this idea come from to get started? Because in reality, any business starts with a problem that needs a solution.

Ashlee Klevens Hayes: Yeah.

Tim Ulbrich: So what was the problem? And what was the solution? And what did you bring to the table with this?

Ashlee Klevens Hayes: The problem was that a lot of my friends were turning to me for advice about how to get nontraditional pharmacy jobs. So problem for them, but a solution for me because I felt like innately, I kind of just knew. And I was unclear at the time why am I the one answering these questions? I’m not sure. Like why aren’t these people just going out and doing what I did? Isn’t that easy? Like just go out and do it. And I recognized there was an opportunity for me to actually, I don’t know, just support them in this capacity as actually, this could be my job. And I started doing this just for free, to be honest. I started reviewing thousands of resumes. Thousands of CVs. And I started realizing how much people undersell themselves. It’s sad, you know? I talk to these highly qualified people, very competent, very educated. It’s not like the people I’m talking to are Joe Schmoes. They’re like really legit, really, really smart people. But how we distribute ourselves and how we talk about our story and how we articulate, you know, our goals, that’s a disconnect.

Tim Ulbrich: Yes. Absolutely.

Ashlee Klevens Hayes: And especially, you know, CVs and cover letters and all that stuff, I don’t think we as clinicians spend as much time and energy and focus on how do we look on paper and our image, our brand? And so I realized that’s when kind of the fruition and the whole start of RxAshlee actually came was when I saw that I was talking to people all over the world just because I wanted to do it, like for free, for fun. And then I was like, wait a minute, I’m spending all my time and my energy and my resources. Why don’t I kind of see where this goes? And that was two years ago, so.

Tim Ulbrich: So much good stuff there, and I think back to my previous role. I reviewed thousands and thousands of residency letters of intent, CVs, and at the end of the day — and I think it must be either from, you know, just form examples or things that are out there, like unless I had met them and they had been intentional about how they branded and marketed themselves and made relationships, they all looked the same at the end of the day. They were all successful, they were all doing lots of great things, but it came down to that relationship, that networking building, and those that really could, to your point, sell themselves.

Ashlee Klevens Hayes: Yeah.

Tim Ulbrich: And so I hope the P4s and 3’s and 2’s and 1’s, anybody, really, hears that and I think the intentionality of that is so, so important.

Ashlee Klevens Hayes: Yeah, and sometimes, there’s a negative stigma around the whole phrase “selling themselves.” But we’re not built to be sales people, but at the same time, I just want to affirm to you that it’s not you selling yourself, it’s just about you talking. Being able to confidently walk up to someone, whoever it may be, especially an employer or someone who could lead you to employment, just being able to talk about yourself. And I think a lot of people are very uncomfortable with that. And for whatever reason, that’s not my problem. I have a lot of problems, Tim, let’s just be real. But that is not one of them. As a pharmacist, as a clinician, I’ve always been able to kind of keep up with prescribers, pick up on the key words, pick up on what they want to hear and how they want to hear it. And same with job employers, people who are hiring. You have to be able to articulate and just really be able to talk the talk, and that’s what it’s about.

Tim Ulbrich: Yes.

Ashlee Klevens Hayes: It’s not about qualifications once you get to a certain point. It’s not really about your qualifications or about, you know, what skills and certifications you have. It really is about just being able to confidently walk into a discussion if it’s a networking event or if it’s a job interview. Just be able to talk about yourself and why you want to do the things that you want to do.

Tim Ulbrich: So I’m curious, you’re in this moment of saying, OK, I’m doing this for fun, I’m reviewing all these CVs, and you probably have this “Aha!” moment of like, oh my gosh, if I see another Microsoft Word tracked changes document, you know, I need to eventually turn this into some type of a business, and there’s an opportunity to do so. But I’m guessing at the same time, you probably had some self-limiting beliefs, fears about is this an actual business? Will people pay for this? Is there a need? Is it validated? So talk me through that. Were there fears that were holding you back in doing that?

Ashlee Klevens Hayes: Let’s talk about — yeah, we could talk about a whole podcast episode on that. You know my story through that.

Tim Ulbrich: That was a stupid question, yes.

Ashlee Klevens Hayes: I talked to you about that a variety of times. But of course. 100%. I am no different than any of the other listeners in my fears and, you know, what people thought about me at that time. Now my life looks a little bit differently because I have results, right? I see positive results. When you see results, confidence tends to follow. At first, it just takes a little bit of courage and a little bit of humility. And then here I am a little bit of I see the results that my clients get, so now I’m like, OK, this stuff works. It’s validated. But in the beginning, let’s go back a couple years. I remember having conversations with my husband, like how am I going to do this? What are the logistics? And he looked at me, he said, “Ashlee, I don’t really care what you do. Like you do you. You just need to pay for your student loans, and you need to pay for child care, and you need to be able to like keep up with rent and keep up with our bills.” And I was like OK. So we shook on it, and I was like, “Watch me.”

Tim Ulbrich: Yeah, yeah.

Ashlee Klevens Hayes: And from there, I knew exactly how much money I needed to make in order to survive, right? Like bare minimum. I wasn’t talking about like going to Target and spending $100 there. No. I was very intentional with every penny spent. So you’ll appreciate this, Tim. I was very intentional with all of the money at first.

Tim Ulbrich: I like that, I like that.

Ashlee Klevens Hayes: You know, like I was just head down, focused on how am I going to pay my bills? Like that’s at the end of the day. And I did that for a year and then I started seeing, again, I started seeing results, and I was like, OK, so it’s time to reevaluate. I’m going to look at some services, I’m going to put together different packages. Who do I want to work with? Instead of I’ll just work with anyone. And it just really has evolved over the past couple of years. And one thing led to the next, for example, like I had a career coaching client that came to me, and we were working together for a couple months. He landed a job interview, and he called me up. He’s like, “Ashlee, can you prep me for my interview?” And I was like, “Sure.” I whipped something up, and the next morning, I prepared him. A week later, he was flown out to the job interview, he nailed the interview, like the interview of his dream job. And he called me, he was like, “You should have charged me five times that price because I got the job.” And I was like, here we go. Here comes the results. And so from there, not that — a few more too. I started creating packages for people and how I could really, really support them land their dreams jobs.

Tim Ulbrich: Yeah.

Ashlee Klevens Hayes: And it wasn’t — again, I just want to reiterate, it’s not a matter of qualifications. It’s not a matter of, you know — once you get the interview, it’s not really a matter of what’s on your resume or what’s on your CV or what jobs you’ve had in the past. It’s about how you craft your own story. And that’s what I help clients with. And that has been so potent and so powerful. And quite frankly, so fun for me because that’s what energizes me.

Tim Ulbrich: Yeah, and what I love about that — and I’m sure you hear this from your clients all the time — is that while they’re engaging with you in that, whether it’s interview prep or you’re working them through that process, that is a lifelong benefit that they’re investing in.

Ashlee Klevens Hayes: Yes! Totally.

Tim Ulbrich: Because to your point, once you knock that out of the park and it leads to a job or whatever, confidence builds. And you know, I can speak from my own personal experience, once you go through that process and you get some wins or you go through a successful negotiation, whatever you’re working through, all of a sudden, you start approaching things with a different mindset.

Ashlee Klevens Hayes: A different lens. Yeah.

Tim Ulbrich: And that mindset — a different lens, exactly. So —

Ashlee Klevens Hayes: And that’s what happens too. So I have career pivot clients that turn into interview prep clients that turn into lifelong clients because they recognize the value of investing in yourself and investing in this process.

Tim Ulbrich: Yes, yes.

Ashlee Klevens Hayes: And it’s always nice to have kind of an outsider looking into your own little bubble and to kind of give you an outside view of what’s going on.

Tim Ulbrich: So speaking on investing in yourself, I shared with you before we jumped on the interview here that for me, 2019, you know, I don’t know if I’m having a third-life crisis, whatever we want to call it, but to me, 2019 is all about game on mindset and investing in the things that I think are most important in my life. So you know, whether that’s my marriage with Jess and I, whether that’s from a career standpoint, finances, health, (inaudible), it really feels like it took me awhile to really see into that positive lens of the ROI of investing in that support.

Ashlee Klevens Hayes: Totally, yes.

Tim Ulbrich: And I think that I tend to be probably be somewhat frugal. You know, I’m the financial guy, after all. But when you begin to see the return on investment, those things that are most important, and you think about, hey, when this is all said and done, I look back and say, ‘These things were the most important,’ I’m never going to regret in making those investments. So talk to me. I’m guessing you have several clients that some get over that hurdle to invest in themselves, some —

Ashlee Klevens Hayes: 100% of clients are like, why should I ever spend money on this? Literally everyone asks.

Tim Ulbrich: What is that? I mean, give us the background on why that is.

Ashlee Klevens Hayes: Right. Well first and foremost, just because you’re the finance guy doesn’t mean you’re frugal. You’re just intentional with your time and resources and money, right? Money’s just a tool. So I love that. I mean, just because you’re an expert in money doesn’t mean you’re frugal. It means you’re smart. And you spend your money intentionally. And that should be for everything. Your life needs to be very holistic approach in the sense of where do I want to spend my energy? Where do I want to spend my money? And what do I want out of all of this? And I’m the same way. I look at everything with intentions. My diet, my lifestyle, who I spend my time with, what I say yes to, what I say no to. And I know for me personally, the more I invest in the process, the more accountable I am to the outcome.

Tim Ulbrich: Amen.

Ashlee Klevens Hayes: So for example, I mean — gosh, I have so many examples — but one of them being I myself invest in a business coach. I myself have a speaking coach because I know that I want to bring my level up, right? I’m always just like how do I perfect some of the things? How do I tweak some things? So what do I do? I invest in experts who are better at these things than me. And quite frankly, one of the things that I guess I could speak for RxAshlee is that I’m really good at interviewing. And so what I’ve turned this into is a service. And how do I teach people? And whether or not they want to invest in it is whether or not they feel like they need it. That’s a whole other conversation of if you need it or not. But I am a big believer of investing in the things that are going to give you the biggest ROI, as with you, Tim. But one of them is my marriage. I’m very committed to whatever it takes, you know, my husband and I go away two weeks every year, just us two just because it’s important for us. We get such little time just between us amongst both of our busy careers, amongst our family, balancing all of the things that we do together. So we invest in our marriage first and foremost. And that is by time away and by all other things too. I mean, marriage counseling or whatever it is you need, you have to take those steps in order to really get the best outcome. And financial advice is no different. If you don’t know how to manage your financial services, what would hold you back from investing a little bit of cash, a little bit of income, to get you the bigger result of, wow, I feel confident in the direction that I’m going now.

Tim Ulbrich: Yeah, and that’s why we share with people, I have a financial planner as well because I know at the end of the day, you know, that for me, knowledge aside, there’s always something more to learn on this. But even with knowledge on the topic, I need accountability, and I need somebody to challenge me and to set goals and to help my wife and I navigate it. So I’m with you. And if you listen and watch most of the successful entrepreneurs that are out there, I can think of probably almost all of them, the stories that I’ve listened to, that all have a coach in different areas of their life, you know? And I think that speaks to it. Let’s talk about interview prep for a minute because I think that is your jam. Right?

Ashlee Klevens Hayes: Totally. I love it. I mean, I love a lot of things, right? I’m a multi-passionate person. I love supporting clients in whole different aspects of their career, anything career-related, I just love it. But the thing is is the interview prep — to be totally transparent to me — it’s a quick win. People like quick wins. I spend a couple of hours, maybe 1-3 hours, with a client. And from time 0 to the end, it is like a totally different person. And it’s so fun for me to watch that process. So that’s why it’s been a big one because it’s very little time that I’m spending to see such an awesome result. And so that’s why it’s been growing, and it’s been huge, and the testimonials and the reviews, it shows itself. But long term-wise, I mean, I love working with clients long-term too.

Tim Ulbrich: Absolutely. Yeah, I think —

Ashlee Klevens Hayes: It’s like a constant pull of, you know, interview prep versus long-term clients.

Tim Ulbrich: I think, though, as we think about some of the things that are going on with the job market and other things, and this is a way that I think people, to your point, a quick win can really, really differentiate themselves and is one thing that has a win that will last much longer than the individual preparation work that they do with you. So for those that are interested in learning more, I know you’ve got some info on your website, RxAshlee.com. You’ve got a section on interview prep, sign up for your email list, make sure that you’re up-to-date, and I think you’ve got some information on there for a call as well for those that may be interested.

Ashlee Klevens Hayes: Yeah, I have a course that I produced. Basically, what I realized was that 99.9% of the clients that come to me have the same questions. They don’t know how to answer a few basic but sometimes tricky questions, and so what I did was in order to lower the cost and to make it just really more potent and quick for the client, I created a course. And it’s been really successful. And then what happens is if the client has more one-on-one questions, then at that time, they can invest in working one-on-one with me. And I have found that extremely beneficial because I gave you like the down-and-dirty, simple tricks on the course. But then if you want just to take it a little bit more to the next level, then I would love, obviously, to support them even more. So that’s been really fun.

Tim Ulbrich: So I want to talk for a minute about some of the work that you’re doing with USC College of Pharmacy and from my experiences in the academic world, you know, I would often do career advising with students. And they would come to me, and we’d have a conversation about their goals and aspirations, and I could tell they were down one of two tracks. They saw, really — many of them saw two paths in their mind: community pharmacy or largely in-patient pharmacy residency. And I think as I see the work that you’re doing on the “nontraditional” setting, that’s a limit we have right now is that there’s not a broad awareness of the opportunities that are out there and really aligning students strengths with the interests that are there. So tell us a little bit about —

refinance student loans

Ashlee Klevens Hayes: Oh yeah, I could talk about that forever. Yes.

Tim Ulbrich: Yeah. And some of the work that you’re doing at USC.

Ashlee Klevens Hayes: Let me ask you a question. When students come to you, what do they define as, you know, nontraditional pharmacy? I’m just curious.

Tim Ulbrich: So if I get a response on that, they’re typically then starting, I would say maybe they broaden out to like managed care, PBM world. Sometimes I’ll hear things like nuclear pharmacy or long-term care consulting. But that really is the end of it. And if you look at the trend data at many colleges, if you take the residency pool and you take those that go into community pharmacy, that is usually 90-95%, if not in some cases more, of where the students are going. So how are you getting that message out there?

Ashlee Klevens Hayes: In my opinion, that is traditional pharmacy.

Tim Ulbrich: Yeah.

Ashlee Klevens Hayes: All of those roles. So what is nontraditional pharmacy? And I think that’s the message I’m trying to spread amongst obviously our students but just really the global pharmacy world at large is nontraditional pharmacy is whatever you want it to be. It doesn’t have to be a pharmacy title. It doesn’t have to be a specific industry. It doesn’t have to be a specific sector. What you need to do as students and as just the larger body of pharmacists is recognize that your education is just laying the groundwork for you. It’s not a direct one-to-one path. It’s not this plus that equals this. Gone are those days. No longer are the days that that’s where it’s at. And if we’re not on the bandwagon, then we need to jump on that bandwagon because we have to teach the students to get really, really creative as to what are their skills? What do they enjoy doing? You know, use your background, use your education to just be like a starter place. And then blend with that with what are you good at, what are your passions, what do you want to do in this whole entire universe. Like the sky is the limit. And then just go out and brand yourself as that person. And go out and do it. What’s holding you back?

Tim Ulbrich: Yes, totally.

Ashlee Klevens Hayes: That’s the question. And I think what a lot of schools are missing is telling the students that, giving them the support, giving them the “I think that’s a great idea, go out and do it. I support you.” I just had a student in my office this morning talking to me about how he wants to get involved in health literacy and like how he wants to do outcomes research in that realm.

Tim Ulbrich: Huge problem, right? Yes.

Ashlee Klevens Hayes: Huge. It’s an amazing topic. I’m like, “OK, well, what can I do to support you? What can we do? What internship can you get? What alumni can I support you with? You know, let’s do it.” So it’s totally changing, and we just need to lay — from day one, from ground zero, from day zero, we’ve got to get them to start thinking like outside of that white coat.

Tim Ulbrich: Oh, yes.

Ashlee Klevens Hayes: Outside of the tradition of traditional pharmacy, this is the only thing, one plus one equals two. I strongly just don’t think that that’s where we’re heading anymore. And we need to support the students in thinking that because they’re very smart. They’re very, very competent, capable human beings. They just need a little bit more nurturing.

Tim Ulbrich: Yes.

Ashlee Klevens Hayes: They just need more impetus of, yeah, that’s an opportunity. Go after it.

Tim Ulbrich: And I’ve seen this mindset develop very quickly, you know, in a pharmacy student’s schooling. I mean, their first, second year, they’re obviously watching their peers above them, they may have come in with preconceived notions of what these paths are, so I feel like there’s somewhat of an uphill battle to redefine that, right?

Ashlee Klevens Hayes: Well, of course, because they see the faculty doing the, for the most part, fairly traditional roles.

Tim Ulbrich: Yes, yes.

Ashlee Klevens Hayes: So we have to realize as faculty, as staff, these students are looking at us. We are the embodiment to what they can and can’t do. So I think what we can do as staff and faculty is really just support their dreams, support their ambitions. Don’t tell them what’s right or wrong. We don’t know.

Tim Ulbrich: Yeah.

Ashlee Klevens Hayes: Who’s to say who’s right or wrong?

Tim Ulbrich: I love that. And I think there’s so much fear there around, you know, obviously student loan debt plays a role in that, the income expectation.

Ashlee Klevens Hayes: Totally, yeah. I’m in that. Tim, that’s my jam. Like I pay my student loans — I am not innocent here. I am not student loan-free.

Tim Ulbrich: Yeah.

Ashlee Klevens Hayes: So I get it. But I’m still doing it. And I still love my job and for some reason, my husband and I are still able to pay our bills.

Tim Ulbrich: Yes.

Ashlee Klevens Hayes: So I think it’s just the whole notion of having less fear.

Tim Ulbrich: So a student who’s listening to this podcast and, you know, hopefully they don’t have Ashlee Klevens Hayes as a career strategist at their college of pharmacy, right? So they may not be getting this. But they’re maybe going to begin starting —

Ashlee Klevens Hayes: First I would tell them to follow me on Instagram. I love Instagram.

Tim Ulbrich: There we go.

Ashlee Klevens Hayes: I love Instagram.

Tim Ulbrich: Yes. We are new on the Instagram platform.

Ashlee Klevens Hayes: It’s so fun. OK, first of all, you called it “the Instagram.” No. It’s Instagram.

Tim Ulbrich: Can you tell I’m new on the Instagram platform?

Ashlee Klevens Hayes: It’s fun. It’s a creative outlet. And I think LinkedIn’s a little bit — for me, personally, it’s a little bit more professional where I don’t feel like I can voice what I really want to because I feel like I get a little bit more pushback on LinkedIn, quite frankly. Instagram is creative, there’s so many different people on there, it’s so fun for me. So anyways. We digress.

Tim Ulbrich: We do. So student, let’s say a student at University of Buffalo, here at the Ohio State University, and they’re hearing this and they’re thinking, wow, I’m really passionate about this area. I mean, health literacy is a great example. It could be one of a thousand areas of healthcare, right? There’s infinite opportunities. But they think, I don’t know where to go with this. It’s an idea. I don’t necessarily see or know of a job that’s defined. I can’t find a job posting. Where do they start?

Ashlee Klevens Hayes: Well, it’s a great question. I would say, go read my blogs. There’s like 25 blogs that I have talked about this for a long, long time. You know, where do I start? That’s everyone’s question. How do I get a job? And that’s a mindset thing. And instead of asking, how do I get a job?, ask yourself, what am I good at? What are my strengths? What does success mean to me? You know, what do I want out of my career? That’s the first thing. What are your goals? Like what is it you want to create out of this life of yours? And how do you want to impact people? And how do you want to influence people? That’s No. 1. Step 2, go brand yourself as that person. Once you’ve identified kind of the path you want to take, I didn’t start off this way. I didn’t start off by having all these different services, packages, courses, books, speaking engagements. I just started off like reviewing CVs.

Tim Ulbrich: Yep. One step.

Ashlee Klevens Hayes: Yeah.

Tim Ulbrich: Yes.

Ashlee Klevens Hayes: And then I was like, oh gosh, it’s so much more and deeper than just the CV. It’s so much bigger. And the vision is you’ve got to figure out what you want and then OK, let’s make you look like the best freaking candidate out there. And then go for it. And only do the things that are going to get you closer to that bigger vision. And I think a lot of students come to me, and they’re like, I don’t know what a vision is. I’m like, “OK, well, what do you want for your career?”

Tim Ulbrich: Absolutely. What gets you excited, right? What leaves you energized.

Ashlee Klevens Hayes: Right, exactly.

Tim Ulbrich: Yes, yes. It’s that reflection. And I’ve talked before on the podcast about the book for me, one of the books, many that were game-changers, but one that was really pivotal in kind of my path was “Start” by Jon Eckhoff. And just, it talks a lot about this concept of like be aware, reflect on the things that you cannot get off your mind because you’re so passionate about it or that people are telling you, that you’re really good in this area and helping people and doing this or that, and acknowledge that. Reflect on it. And then take one step towards beginning to articulate what that vision is. And then obviously, begin to execute on that. But we talked on your show, if you articulate the 20-year plan, that becomes paralyzing, right? But you take one step. One step.

Ashlee Klevens Hayes: Totally. Oh my gosh, yes. Let me just say, just to be clear, five years ago, if someone would have told me that I was launching this business, I would have been confused. I would have no idea that I would have been in this place. But I had an idea and I knew what I was good at. And I knew how I wanted to help people. And that’s the same definition of a lot of pharmacists out there. They want to help people. The way I help people is much different than the way other pharmacists help people. So I think you just have to have that idea of what does helping people look like to you? And then what capacity do you like talking about that? And then from there, obviously, you just put your head down and work. And you don’t give up. You commit. Commit to this. And I think that’s what’s been the best part about all of this for me is seeing the clients that commit and the outcome is huge.

Tim Ulbrich: Let’s talk about that hard work and commitment for a minute because you and I both know that starting a business is both exhilarating and it can be a grind at the same time. And I think we don’t always talk about, you know, both sides of it. And of course, the passion brings you through those moments of, you know, difficulty. Seth Godin calls them the “dips,” and you’ve kind of got to — very few people get to the other side of the dip. So what keeps you motivated through the hustle, the hard work, balancing family, all these things?

Ashlee Klevens Hayes: Oh man, good question. All of the things?

Tim Ulbrich: Yes, yes.

Ashlee Klevens Hayes: First and foremost, I have a daughter who I want to show her that if she puts her heart and mind to something, that she is capable of doing anything in this whole entire universe. I want her to see that firsthand. Two, I — honestly, I have a support group that I go to. I’m in a big entrepreneurship group that I lean on them hard when I’m feeling like the little bit of imposterish. I don’t think that really goes away. And three, I see the results of my clients, and that drives me. And honestly, at the end of the day, I think that’s what I’m in this for. I want to see people just as happy and thriving just as much as I am. And I think the people that I’m serving, the audience that I’m working with, they’re all so smart. So smart. I have physicians, I mean, I have pharmacists, I have you name it: agriculture, architects, lawyers, that are coming to me, and they are brilliant. So smart. They just need a little bit of tweaking. And that’s — at the end of the day, that’s what I’m good at, and that’s what I support them through. So I think the results have been a big driver for me.

Tim Ulbrich: So you alluded to this a little bit in what you just said, but you know, the reality is — and it’s hard to think about this, but I think it’s so critical for you, and I know you’ve thought about it, but our listeners also be thinking about legacy. And the reality is what you’re working on today is obviously going to be left behind for others to continue to consume, to build upon, and ultimately, you know, I’m thinking of your daughter, to look back and say, yes, that was my mom. You know? So what do you want your legacy to be?

Ashlee Klevens Hayes: Oh gosh, this could get me like choked up, Tim. What the heck? I’ve had such great mentors in my life, one of them being my dad. And I talk about him a lot. He passed away very suddenly in the middle of my second year of pharmacy school. And he was like the legacy that I wanted to live by. And one of the last conversations I had with my dad, the last, which is so powerful, is I was driving to pharmacy school, he was driving to work, and we were talking about pharmacy, all of the stressors that came along with being a Chief Pharmacy Officer. But at the end of the conversation, he goes, “Ashlee, I just want you to know, I’ve kind of like word vomited on you, but I love my job. And at the end of the day, at the end of the day, you have to make a positive impact on this world, on your job, and on the people you’re working with. Or else it’s not worth it.” And that’s stuck — and eight weeks later, my dad passed away. And that’s stuck with me now nine years ago that that’s what’s the impetus behind me launching my own brand and my own business is I love what I’m doing.

Tim Ulbrich: Yes.

Ashlee Klevens Hayes: And it’s not every single day is like skipping and rainbows. No, I get things pop up all the time. But I feel really fulfilled. And I think if I can show that to the people around me and especially like my daughter and my husband and my family, then that inspires them to do that. It’s kind of like a trickle effect, you know?

Tim Ulbrich: I do. And that’s why I love, I love what you’re doing in terms of, you know, helping people whether it’s a quick win in interview prep, whether it’s helping them make a career pivot, whether it’s helping them take their business to the next level and develop it is that has such a profound effect on every other area of our lives. And we cannot disconnect them. And I think some of the negativity that’s out there right now in the job market is a disconnect or trying to disconnect between the work and the life and all the other parts that come. And you cannot. They all influence one another.

Ashlee Klevens Hayes: No. Yeah, no. Yeah. Well, I have to say, if you’re one of those people that is, you know, feeling a little — not just unhappy. It’s more than just unhappiness, right? If it’s unfulfilled or if you feel like you’re not living up to your expectations in your career. You have to understand that if you — and I say it on my business card, it’s on my LinkedIn, it’s everywhere. If you want to make a change in your life, you have to get comfortable being uncomfortable. Because with all this newness comes uncomfortable territory. On the first podcast I launched, I talked about imposter syndrome, and I read off the screen, I was so nervous. I was shaking. And I think I should have had a cocktail before that because I was so nervous to put my heart out there and to put, you know, all these thoughts out into the world for people to look at me. But it’s working, and that’s what kind of drives me too. I’m still uncomfortable, just to be clear.

Tim Ulbrich: Sure. Yes. So give us a book recommendation, a podcast that you’re listening to, something that’s inspiring you that can inspire our audience.

Ashlee Klevens Hayes: Oh, that’s a great question. So I just read the book, “Fearless” by Jean Case over the weekend. She is the national — or I might screw up her title, but she’s like the chairman of the National Geographic. She’s the first woman or second woman to be in that role. And she just talks about all these inspiring people who came from nothing. These people are essentially — not no ones, but they came from nothing, and then they turned their lives into this huge, impactful careers. And that’s really, just hearing those stories and hearing, you know, all of her tips and tricks on how she go to where she is now, and she’s a philanthropist. It’s really inspiring. So that’s the book I read over the weekend.

Tim Ulbrich: Awesome.

Ashlee Klevens Hayes: I read so much too. Just I love reading.

Tim Ulbrich: Me too. Me too. And I’m hoping to inspire that in my boys because I didn’t have that when I was younger, but I can’t get enough of it now.

Ashlee Klevens Hayes: I used to hate reading.

Tim Ulbrich: Me too. I’m ashamed to say that.

Ashlee Klevens Hayes: Oh, I’m not. I hated it. But now, over the last three or four years, I’m in it. I love it.

Tim Ulbrich: We’ll link to that in the show notes. So what’s on the horizon for RxAshlee? What are you working on?

Ashlee Klevens Hayes: Oh, all of the things. You know, it’s always changing. But I have four keynote presentations this year, which I have to say, when you take on a big presentation in front of a big audience, it’s so much work. Holy moly. So much energy. So that’s one thing. Two, I’m leading a women’s group. It’s a branding — it’s not a mastermind, I would say, but it’s just like 10 of us that are just trying to go through career pivots or launching their own brand, and that’s been so much — I love that group. I mean, those are my people. I am writing a book, I’m launching courses. You know? It’s just keeping up the grind, and I love it. It’s so much.

Tim Ulbrich: That’s awesome. So obviously, you mentioned before, you’re on Instagram at @RxAshlee. Again, that’s @RxAshlee. And we referenced the website, RxAshlee.com.

Ashlee Klevens Hayes: Thank you, Tim.

Tim Ulbrich: Absolutely. This has been so much fun. Looking forward to more collaborations. I would highly encourage our listeners to check out the work that you’re doing over at RxAshlee.com, and I’m sure we’ll have you again on the show here in the future. Thank you.

Ashlee Klevens Hayes: Tim, I love what you’re doing. You know, we’ve had this conversation so many times, and I just want to say, thank you for what you’re doing in the profession. I know how much work it takes to put yourself out there and to kind of like just go after it. And you are a strong mentor to so many of us out there. So thanks again for having me on the show.

Tim Ulbrich: Thank you. Have a great rest of your week.

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YFP 092: Creating an Indispensable Pharmacy Career


Becoming an Indispensable Pharmacist

On this episode of the Your Financial Pharmacist podcast, Tim Church welcomes Alex Barker back to the show to share some of the highlights of his recent career transition out of pharmacy practice, some tips for pharmacists who are struggling in their careers, and how to become an indispensable pharmacist. Alex also discusses the release of his new book Indispensable: The Prescription for a Fulfilling Pharmacy Career.

About Today’s Guest

Alex Barker is a pharmacist, entrepreneur, author, and creator of thehappypharmd.com and the Happy PharmD Summit.

Summary

On this episode, Alex Barker dives into how and why he transitioned from a full-time pharmacy career to a full-time hustle and about his passion in helping pharmacists be happy in their careers.

After a one year residency, Alex got a job in an ambulatory care setting. He liked his work but wasn’t fulfilled, so he started doing different jobs on the side. Eventually, these different side hustles led him to launching The Happy PharmD in 2017. The Happy PharmD helps pharmacists start businesses or find and transition into a new career.

In December 2016, Alex had been working in his side hustles for 3 or 4 years and felt like he should’ve been farther along with his earnings. He realized he was unhappy with his full-time work. He decided he was going to focus all of his energy on the Happy PharmD after his wife asked him if he was going to regret spending more time in his full-time pharmacy career in the future. In October 2017, Alex went all in and made the Happy PharmD his main gig.

Alex recently published a book Indispensable: The Prescription for a Fulfilling Pharmacy Career. Indispensable is a guide that is meant to help pharmacists if they are feeling burned out or lost in their careers. The book is broken into four sections which cover the current reality of the pharmacy profession, options of other careers, strategizing your career transition, and indispensable career choices. The book is geared to help pharmacists who want more from their career or lives.

Mentioned on the Show

Episode Transcript

Tim Church: Alex, thank you so much for being on the show again.

Alex Barker: Hey, you know I love being here.

Tim Church: I think you’re creating the record for most times on the YFP show with this being No. 3 as you were back on Episode 038 and all the way back in Episode 007. But a lot has changed since those episodes, and just the other day, I was looking at my Skype contacts at work, and it said, “Alex Barker, offline for 194 days.” And I thought to myself, offline as clinical pharmacy specialist, online as entrepreneur.

Alex Barker: Yeah, that’s a good assessment. By the way, call Guinness Book of World Records ‘cause I want to hold that record down, baby.

Tim Church: I don’t know. We might have had a couple people that have been on twice, but I guess I don’t really count since I’m on the team. So I’ve just kind of made appearances here and there. But anyway, for those who don’t know your full career story, can you just talk a little bit about your career path and really how you turned your side hustle into your full hustle?

Alex Barker: Sure. So the very short story is I started off my career, I did a one-year residency, got a job in an am-care setting. And I liked my work, but I wasn’t fully fulfilled by my work and the creativity that I wanted to see happen in my work. So I started things on the side. I sold everything from baby strollers on eBay to making stickers to building websites, doing marketing for small businesses, and lots of other failed projects. And that all culminated into the Happy PharmD, which I launched in January of 2017, where I made it my mission to help pharmacists either start businesses or get into new careers. And now, it is at this recording, Feb. 2019, I’ve been doing that now for two years. And recently left my job as a clinical pharmacy specialist to do that work full-time. So that’s kind of the very short version of it all.

Tim Church: Yeah, so I want to dig into that a little bit, Alex, because for everybody listening, you leaving your full-time, secure, clinical pharmacy specialist job into something in the entrepreneurial space and really taking ownership over your income and providing for your family, I mean, that’s not a small decision to make.

Alex Barker: No, it’s terrifying. I’m still scared.

Tim Church: But I want you to talk about that a little bit. How did you come to that decision to where you say, “You know what? I’m going to do this full-time. I’m going to leave that security blanket that I have in place, even though I have those great benefits, the insurance, the steady, predictable income, and I’m really going to go after the Happy PharmD full-time” in addition to your other projects that you have?

Alex Barker: You know, I think it’s all psychological and fear-based. I don’t think anyone makes a decision until the pain of not making a decision is greater than the reward of just not making the decision or being lazy like I am so often at times. I would say in December of 2016, I had been hustling for about 3-4 years, and I loved it. But I felt like I should have been farther. I felt like I should be doing this kind of stuff all the time, either in a full-time career in academia or I should be a full-time entrepreneur. I was just very unhappy with work, my conditions, I wasn’t doing everything that I wanted to do, I struggled with my teammates. And so I made a very difficult decision, one which I talk about in my book, “Indispensable,” and it was to just focus on one thing – to put everything else aside and say, “OK. I’m going to focus all of my attention and effort on the Happy PharmD and focus on helping as many people as I can.” And that really helped me put all of my energy into one basket to make it so that this thing could be successful and that I could grow a team, and I could hire people who could help me do the same work that I’m doing and kind of multiply myself. And probably the thing that really scared me the most was when I started seeing success with this business, and I said to my wife, “OK, it’s do or die. I think we need to decide, is this what the future of my career is? Or should we — I don’t know — choose something else? Or should I be like full-time worker for the next 10 years, and go with a FIRE path, a Financially Independent Retire Early? Or should I put everything I have into the business?” And she asked me a powerful question. I don’t think I’ve ever shared this story, but she asked me, “Are you going to regret spending more time in the job where you don’t feel really fulfilled or happy at the end of the day with what you do?” And that really stuck with me, and it made me think about where I wanted to go with career and what I wanted to do and the impact. And I thought about academia, I thought about this business. And I finally made the decision to pretend as if my business was my full-time job. Pretend as if it was supplying all of our income needs, and so in like October of 2017, I decided to pretend as if my day job and income did not exist, and we were just pretending as if to live off of our business. That really helped quench my fear because I was paralyzed by the idea of moving full-time into a business. The idea of living off of my business was terrifying to me because, you know, my efforts yielded results. And it was no longer just come to work and get paid, do your job and get money. This business was more like, hey, you’ve got to show up, you have to help people, you have to hustle. And only then will you get paid. Only then will you see results. That was really scary.

Tim Church: So what was the hardest part of the transition? Do you think it was the financial aspects or was it a combination of a couple things?

Alex Barker: Yeah, definitely a combination. But I would say the fear of losing out on money is the greatest thing. Personally, I believe most pharmacists, when thinking about their careers, thinking about transitioning, I think we all struggle with our golden handcuff syndrome. We all feel like we can’t take a pay cut or we can’t, you know, get into something that may be less money in order to feel happier with a job. But I found that when people actually transition into something they enjoy doing, they usually have more freedom, more drive, more desire. And for those that are entrepreneurial, they find that pathway to ultimately create extra income. For me, I was very scared to put myself in a no-way-of-escape situation. You know? Putting myself in the corner and saying, “OK, Alex, hey, listen up. You better hustle. You better perform because if you don’t, you can’t blame yourself or other people” — I’m sorry — “you can’t blame other people for what ends up happening, whatever it is.” I think we as pharmacists, we don’t want things to fail. I think it’s in our blood. We’re trained from the very beginning that if we fail, patients die, someone gets hurt. And if that’s the case, well then that applies to all sorts of other things in our lives. And we, when we try something, we don’t want it to fail. I didn’t want my things to fail because if it failed, that means I am a failure. And so I found myself in years prior like focusing my energy on multiple different projects, different side hustles, different things, different ideas. And because I did that, I ultimately didn’t see a lot of success in one single area or one thing. And I told myself, “Well, you know what, I’m going to try this other thing. I’m going to try this other project or other idea.” Instead of giving it my all, my everything, and giving myself a deadline of if I don’t perform, if I don’t meet this end goal by this deadline, then I will give up. I will try something else because what I did didn’t work. And putting myself on the ropes like that was a lot of pressure, but it definitely helped me overcome fears of failure and fears about money that I had.

Tim Church: How much has failure played a role in your entrepreneurial journey?

Alex Barker: It’s probably part of the job description. If you want to say like “role.” I’m constantly failing. I’m constantly trying new ideas and finding out that they don’t always work. I hire people, and I find out that, hey, they’re not showing up, they’re not doing what I’m asking them to do. And that’s a struggle. I’m also finding out that I suck at a lot of different things. As you know, Tim. You know that I’m not good at my website. I’m not good at marketing or designing things. And relying on other people sometimes is tough because — actually, you and I, Tim, have talked about this with my book. I wanted my book to come out like the summer of last year.

Tim Church: Yeah, I’ve been waiting on that.

Alex Barker: And I haven’t let it come out because I wanted to do a very good job with launching it, with producing it, making sure it’s very high quality, great content, research-based information. And I found that that takes time. I can’t do a crappy job with it, and be proud of what I would create. And so it’s taken time. And that’s — I considered that for awhile a failure, you know? But it’s really just a part of the job, unfortunately. Like you just try things, and if it doesn’t work out, you keep moving.

Tim Church: Yeah, I love the book by John Maxwell called “Failing Forward.” And he has a really powerful quote in there, but he basically says that the difference between average people and achieving people is their perception of and response to failure. And I’ve always kind of gone forward with that in mind that that is part of the job. And in order to excel and to get to the next level, you have to almost expect that it’s going to happen. But it’s really about that response and how you’re going to take that in order to move forward, basically.

Alex Barker: Imagine if they taught that in like the pharmacy curriculum. Like.

Tim Church: It’s the antithesis of the pharmacy curriculum, right?

Alex Barker: It has to be somehow included, I suppose in like an entrepreneurial thing. But I’m sure at the time, most students are not interested in that because all they think of entrepreneurism is dependence. But yeah, it’s scary, right? I’m pretty sure he talks about Colonel Sanders in that book, right?

Tim Church: He does. Yeah, it’s a great story because it wasn’t until I think his mid- or late 60’s when he actually got a deal and started becoming big because he kept getting rejection, rejection, rejection.

Alex Barker: Yeah, I think the actual story is he was rejected 1,000 times by people. There may be an additional zero on there, but I think it’s 1,000 times.

Tim Church: Yeah. It’s something like that. It’s a really cool story, so if you haven’t read that book, “Failing Forward,” by John Maxwell, I highly recommend it. One more question for you in terms of your journey, and then I want to talk a little bit about the profession and your book. But how much has being debt-free allowed you and enabled you to make this transition?

Alex Barker: Oh, it’s huge.

Tim Church: I guess the better question is how important has that been?

Alex Barker: Oh, it’s been the thing to set us free. You could argue that — I guess it would just have slowed me down if I did have debt, right? Because our debt payments, my student loans and my house, the major debts we had, you know, it’s a big chunk of money every month, right? So I think by not having them, I could probably predict that we got away from my job earlier than what we did. But because of it, we are immensely free. We own our house, we have no college loans. We can — this summer, Tim, I’m visiting you this summer in a camper van. We’re going around the entire summer and living the van life.

Tim Church: At Disney, right?

Alex Barker: Yeah, actually, we are going to Disney. Yeah. And if it weren’t for being debt-free, I don’t believe we could really do that this soon. So it’s allowing us to live a lot freer with our lifestyle and our money choices.

Tim Church: That’s so cool. And I love your story. You know, and I know you talk about that in the book too is, you know, a lot of people have different mentalities around debt, and it has to do with basically where you see yourself and where you want to position yourself. And you basically came out and said that, you know, you would rather be debt-free now to give yourself more options and opportunities versus staying in a position you didn’t necessarily like but able to maybe retire a little bit earlier than you would otherwise. So that was a pretty cool story that you talked about. And I think that’s what’s so important is it’s not always black-and-white, and it really has to do with your goals and your aspirations and where you’re trying to get to.

Alex Barker: Totally. Yeah. I cannot argue with that.

Tim Church: Well, let’s switch gears a little bit. It’s basically an understatement that there’s a lot of negativity in our profession. Right?

Alex Barker: Yeah.

Tim Church: There’s many pharmacists out there feeling trapped, burned out, stressed out, unfulfilled. What are your thoughts on this in 2019?

Alex Barker: Oh, man. Well…

Tim Church: Keep in mind we only have like 20 or 30 minutes.

Alex Barker: I’ll try to be as brief as I can then. I’ve made it our company’s mission this year to help 500 pharmacists transition into new jobs. And the reason for it is because I’m very passionate about helping pharmacists figure out what they’re great at, where are our — healthcare’s greatest needs, where do we need to put people to fix these problems that we have and people who are curious and are passionate about it? And to put all of this in perspective, I recently wrote an article about I believe it was like four or five things that are stressing pharmacists out or burning them out. And I received an email from a widow of a pharmacist, and I actually put her story in my book. And she shares that unfortunately, her husband died early, I believe in his young 50’s, if I recall correctly. And she was told by another pharmacist that you cannot convince me that work did not kill him. And that has — when she sent that to me, that’s really stuck with me. It kind of emotionally moves me. When I get some hater email or I get discouraged about my work, I often look at this email and think about the people out there who are just like him, who are struggling in their jobs, they’re really not loving it, but they convince themselves to be forced to work in these conditions. And that gets me excited to help them, it gets me a little bit scared about the challenges that are ahead of me to face that problem, but I don’t think anyone should be making six figures and be miserable. I think that’s ridiculous. I really think it’s with the way things are in the market, with the way things are in this world today, I don’t believe there’s any reason why we should be miserable in our jobs. But I think we lie to ourselves often and convince ourselves that no one wants us, I don’t have enough experience, I don’t have any desirable traits or qualities or values, and so because of that, I’m not going to try and I’m just going to be burnt out. I’m going to be miserable in my job, I’m going to go to work, get my paycheck, go home and try to be happy the rest of the time during my life. And I want to fix that. So that’s what I think about burnout and all of that nastiness in our profession.

Tim Church: So over the past year and a half, you’ve been working on your book that’s finally out. And I’m really excited because I was privy to some of the initial work and behind-the-scenes work and got the audio author’s cut early. So big announcement: It’s finally out. “Indispensable: The Prescription for a Fulfilling Pharmacy Career.” Alex, how does it feel to be done with this?

Alex Barker: Hot dog. It feels good. Some crazy stats on this that a close friend of mine let me know. 81% of people, Americans, want to write a book. Less than 1% actually do. And of the 1% that do, 30% actually publish it. So it’s crazy hard. It is not easy to write and publish a book. I did not think it would take me like 17 months to do this, but we’re finally here. It’s ready, I put a lot of time, energy, tears — no blood, but plenty of sweat, and I’m very excited to get this in the hands of people.

Tim Church: I’m really excited for you because it definitely packs a ton of value. And I’m not just saying that because I’m an Alex Barker fan or we’re friends or colleagues. But it actually is just jam-packed with so much great content. So besides drones delivering pad thai, becoming a guitar master, your poor Jenga skills in Dungeons and Dragons, what is this book all about?

Alex Barker: You’ve read the book. I love pad thai. This book is something that I wish I had when I was first entering the profession. It’s a book, it’s a guide, meant to help you if you feel like you’re burned out, to help you understand what your problem is with your career and how to fix it, how to solve it, to go about it in a sustainable way that leads you towards an indispensable career. Most pharmacists that I’ve spoken to in the last two years feel dispensable. No one’s ever said that to me, but that’s how they feel. They’re worried about being let go. They’re not fulfilled by their work. They feel like a new grad could come in and replace them totally, and they wouldn’t care. And that, to me, is a crime that I guess no real one person is guilty of. But in order to create something that’s fulfilling, you’ve got to find out what makes you indispensable. And I guess you’ve got to read the book to find out what that is. Wow, I didn’t think that would come out of me.

Tim Church: Yeah, yeah. Wow. Well, it’s broken down into four different sections, right?

Alex Barker: Mhm.

Tim Church: So can you just briefly break those down in terms of what you have in those different sections?

Alex Barker: Yes. I totally can, Tim. Perfect memory. Tell you all of the parts of my book. So Part One is all about looking at your current reality in the pharmacy career and seeing the different problems that we’re facing, whether it’s the current job market, whether you’re struggling with burnout and what your options are. And Part Two dives more into that, into your options and discovering the where and how you can make the change, whether it’s a new field in pharmacy or even out of the profession. On a side note, we work with a lot of different pharmacists. The vast majority of them, we help move into just a new field of pharmacy. But some do transition completely out of pharmacy. We’ve helped people get into real estate, financing, insurance, financial advising, internet marketing, all sorts of stuff. So it doesn’t, you know, it doesn’t have to be pharmacy, if that’s where you think you’re at. Part Three dives into the messy middle and strategizing your way into your career transition. And finally, Part Four is all about making indispensable choices with your career, choosing to focus on relationships and creating value.

Tim Church: There it is. All the sections. I want to talk a little bit about one of those where you discuss this idea of passion and work and a lot of the misconceptions behind that. Could you give the audience just a little sample?

Alex Barker: So I think a lot of people feel like they like their job, they want to help people, but they just don’t know what their passion is or what they’re passionate about. I, when I was a little kid, I was passionate about Legos and WE wrestling, and I was into comedy and making videos. But the thing that’s always been true about passions is that passions change. And I think I share a story about a fellow podcaster, Seth DePascal, and his journey about getting into retail and hospital and eventually, finding his passion in compounding. And he never knew he was passionate about compounding. He never thought a day in his life about compounding as a career path. But really, what he found is that following his passion first would have never come for him should he choose that path. And I think I also reference a story about Steve Jobs, founder of Apple, if he would have followed his passion, he would be like a Zen master out in China. He wouldn’t be leading Apple. He would be teaching people how to achieve Zen. So following passion isn’t exactly the thing to do first when figuring out your career. Passion is a good thing, but it’s usually developed over time. You get more interested in it. For example, I’ll give you a great example. So in my own pursuit of choosing the Happy PharmD, I’ve become crazy interested in labor economics. Sounds super boring, right, Tim?
Tim Church: It does.

Alex Barker: Yeah. You don’t have to lie. It is super boring to anyone else, but I’m amazingly interested in it because it’s revealing all sorts of economical truths about our job market. It’s really opened my eyes to things that most people aren’t talking about. And I’m able to on my blog. In the same way, what I propose we do is follow our curiosities and interests in pharmacy. And if you don’t know what those are, well, it’s time to ask yourself some questions and force yourself to get re-interested into pharmacy. Can I share a quick story?

Tim Church: Yeah, go for it.

Alex Barker: So I’m working with this guy named James. He’s out of St. Louis. And he was struggling in his career. He wasn’t enjoying his work, he was working in an institution, hospital pharmacy, and we were working together, trying to figure out, OK, well, what is next? And we ruled out all of the things that he was good at and different career paths. And then we came on an interesting idea. And he said, “You know, if I could quit my job and didn’t have to work at all, I would probably go volunteer for some sort of opioid treatment center or something that deals with the opioid crisis.” And that has led him down a very interesting path where he’s now very involved in different opioid committees in the local region. But he’s also now more involved in his work doing opioid-type work and committee work and different processes and creating policies. And his work now has become a lot more interesting to him, and he’s actually getting — well, depending on when this is released, I would be able to say, you know, I think he’s actually in talks with other people now to join either a new company or new projects or new things that involve straight-up opioids. So the point is sometimes, we just have to get curious or go back to when we were first in pharmacy school and think about, well, what were the things that really made me curious or I wanted to learn more about to inform a decision now about where you want to take your career next.

Tim Church: Yeah, I really like that concept because I think that’s probably where a lot of people even will transition out of pharmacy because that curiosity they have into even other types of work that provides value in the marketplace. And you talk a lot about that in that particular section, which is really cool. So Alex, who do you think this book is meant for? Is it for everybody in the pharmacy profession? Specific groups?

Alex Barker: Not at all. No. This is definitely not for everyone because some people have great, indispensable careers. They’re already probably doing many of the things that I recommend. I’m sure that the book would be a great supplement, maybe some new ideas about how they could achieve more with what they want with their career, but this book is really for the pharmacist who wants more from their career or their lives. It’s for the person who says, “You know, this job is OK. But I’m not doing everything that I think I was meant to do with my career or my job. It’s for the pharmacist who says things like, you know, it’s just a j-o-b. It’s just a job. Or if they feel burnt out. I didn’t write it for the elite. I didn’t want to write it to them. I wanted to write it to, truthfully, me when I was burnt out, when I was feeling stressed out about my job. And I was worried about what I was doing with my career and where I would end up. I was very scared a long time ago. And I wrote it to me and to the same people who are struggling with that same dilemma with their career and wondering, did I make a right choice pursuing this? Those are scary thoughts that you can’t really voice online. Like you can’t post something like that on LinkedIn or on Facebook and say, I don’t know what I’m doing. You can really only say it to maybe your close colleagues that you work with because everyone else feels the same way. Or you can say it to someone in passing at a party and just say, “I just don’t like what I do. I do not –” and you hear this all the time. And when I tell people what I do outside of pharmacy circles, they usually tell me, “Oh yeah, I know a pharmacist. They don’t seem happy.” Which is not good. I mean, that’s not good that that’s the default for our profession, right? Not at all. Yeah, I think we have a branding problem honestly. I mean, everyone that — the face of pharmacy right now is retail and community. And you know, if you — I challenge anyone to like go into a random retail store and just look at the faces of people. I do this often, actually. I’ll just go in and check things out and see how people are doing behind the counter. And they look stressed. They look rushed. Every once in awhile, I’ll see a smile, which is encouraging to me. You know? And I don’t want to make it seem like certain fields of pharmacy are always bad. It’s totally not true. There’s lots of happy people with fulfilling careers in every practice, I think, even retail, even corporate.And that’s great. They should be there. We need those people there. But a lot of people are mismatched. They’re not placed in the right position to really thrive, and their lives and their stress are usually evidence of that.

Tim Church: So what would you say, Alex, what’s the one thing that you want people to walk away with after they’ve read the book?

Alex Barker: Oh, man. Take action, baby. Hot dog. If you read this book, and you don’t take any different action, then like I would feel bad. I would want to refund you if you bought the book. You’ve got to take a different action. Everyone’s heard this now, but the definition of insanity is doing the same thing over and over and expecting different results. It’s time to do things differently. It’s time to not just be applying to jobs on job boards because you’re competing with dozens of other pharmacists who likely look better than you on paper. It’s time to do something different, get more involved with your associations to take action to do something different because — what’s the phrase? What got you here won’t get you there. So even if, you know, you don’t read my book, that’s fine. What I want you to come away with, even from this podcast, is that, you know, you’ve got to create value for others. You’ve got to build relationships. And to create an indispensable career, that means you’ve got to take some proactive action, my friend.

Tim Church: So Alex, where did the inspiration come from to write this book?

Alex Barker: The pharmacists I work with. The people, when we first talk like over the phone and we’re trying to figure out their careers, a thing I often hear all the time is that I’ve got too many negatives going for me. I don’t have a PharmD. I don’t have any experience outside of community. I haven’t done anything great with my career. And they have all these excuses, and I’ve worked with people who have thought that they would never be hired by the companies that they were hired by. And seeing that transformation, seeing people go through that process and being confident in their ability to really perform at the highest level of pharmacy, that has been my inspiration for writing the book, for doing a lot of the work with clients, and truthfully, hiring more people to help with this process because if I’m going to help 500 people, I can’t do it alone. I’ve got to get other people on this train.

Tim Church: That’s awesome. I know that you’ve shared a lot of these stories within the book, which are really cool to see how you’ve helped with those transformations of people who are really struggling, really feeling that stress that you were once in. So I think that’s a really cool story. Another cool story is the charity aspect behind the book. And I was hoping that you would share a little bit about that.

Alex Barker: Yeah. So one of the things I decided about halfway through this process is that I wanted to use 100% of the profits of this book to go straight to charity. And there’s one charity that I’m very passionate about, and it’s helping families fund adoptions. I’m wanting to raise hopefully $30,000 this year, 2019, to give to a family to afford adoption. I share a little bit of my own story in the book, but I’ve been profoundly affected by adoption. My dad, the man who I call Dad is not really my true father. He’s my stepdad. But because of him, him coming into my life and taking me as my own son, has — I wouldn’t be on this podcast if it wasn’t for him, for him showing me what it means to be a man, what it means to be a loving husband and a great father. And that really moves me to want to help other families afford adoption, which is stupid how much it costs. $30,000, are you kidding me? No one can afford something like that. And so I want to help families be able to do that because the average adoption right now costs $30,000. And so all of the proceeds of this book are going to go straight to this fund. And from actually here on forward, every year, I plan on donating continuously to families to adopt children who are not wanted. And that, to me, like that’s the legacy, I hope, of this business is to bring families whole. That’s something I’m very proud about.

Tim Church: Such a cool story, Alex. And I appreciate you sharing that. So I highly recommend that you go out there and you get the book, “Indispensable: The Prescription for a Fulfilling Pharmacy Career,” especially if you’re someone that feels stressed or burned out and want to explore other strategies and opportunities. You can get the book on Amazon as an audiobook, paperback or a hard cover. Alex, what’s the best way for someone to reach out to you if they want to learn more about you and what you do?

Alex Barker: Best place is The Happy PharmD, that’s my home base, where I live. We’ve got lots of great information on there about career development, how to grow your career, how to get into a new job, job transitions. And we have lots of resources and some other courses on there. We also have a free training webinar on there about how pharmacists can transition into a new career path. So I highly recommend you check it out. And alternatively, you can also shoot me a message on LinkedIn.

Tim Church: Alex, thanks again for coming on the show, talking about your book and sharing your story.

Alex Barker: Thanks for having me, Tim. I had a blast.

Tim Church: Hey guys, just a reminder: If you want to get your free copy of “Indispensable,” just write us an honest review in iTunes for the Your Financial Pharmacist podcast. And then send us a screenshot to [email protected]. And do that by Sunday, March 24 for your chance to win.

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YFP 091: How to Become a Fit Pharmacist


Becoming an Entrepreneur: The Fit Pharmacist

On this episode of the Your Financial Pharmacist Podcast, Tim Church interviews Dr. Adam Martin about becoming an entrepreneur for another edition of the side hustle series. Adam has been practicing as a pharmacist in the community practice setting for over 7 years, in addition to being a certified personal trainer, licensed nutrition consultant, author, speaker, and competitive natural bodybuilder.

About Today’s Guest

Graduating from the University of Pittsburgh School of Pharmacy, Dr. Adam Martin has worked as a full-time pharmacist in the community practice setting for over 7 years, in addition to being a certified personal trainer, licensed nutrition consultant, author, speaker, and competitive natural bodybuilder.

His passion and focus is empowering pharmacy students and pharmacists
to overcome the barriers we face in pharmacy to make self-care a reality. He outlines how to do this with practical and realistic tips in this book Rx: YOU! In his book, Dr. Martin dispenses his Rx for success in how to simplify nutrition, fit in fitness, and manage stress so that you can become The FitPharmacist and put the health back into healthcare.

Summary

It’s easy to hear Dr. Adam Martin’s passion for self-care, pharmacy, fitness, and life. While Adam’s mother was sick with cancer, he spent a lot of time with her going to pharmacies and noticed how compassionate pharmacists were in caring for his mother. He wanted to continue that care and empathy for patients as a pharmacist and was driven to become one, despite not being accepted to pharmacy school at first.

Adam’s been a practicing community pharmacist for 7 years and loves his work. He enjoys being able to build a rapport and relationship with patients and feels that every interaction is important and directly impacts someone’s life.

His passion for his pharmacy career floods into every other aspect of his life and is apparent in his entrepreneurial journey. In college, Adam started helping his colleagues with their fitness and health journeys. This ultimately formed a community and inspired him to create an Instagram account (@thefitpharmacist) which currently has almost 30,000 followers.

Now, The Fit Pharmacist business has 3 tiers which include nutrition, health coaching, and physical fitness. In his business, Adam continues to help pharmacists and pharmacy students put the health back in health care and truly take care of themselves so they can better serve their patients.

Adam’s also been in business since 2013 with Dr. Joe Klemczewski and Dr. Kori Propst of The Diet Doc. Adam is also a speaker, author, and coaches other pharmacists and pharmacy students to become health coaches.

Mentioned on the Show

Episode Transcript

Tim Church: Adam, thank you so much for taking time to come on the show and for being a part of this side hustle edition.

Adam Martin: Tim, thanks so much for having me. Been a big fan of you and other Tim, especially since reading the book you guys created, which is phenomenal. “Seven Figure Pharmacist,” so much value in there. It’s just really a masterpiece for the profession. So thank you so much and congratulations on that production.

Tim Church: Oh, thanks, man. We really appreciate that and, you know, that was really the goal in mind is to get that information out there so that people don’t make the same mistakes that we did. So definitely appreciate you for the shoutout on that. Now, being into fitness and weight lifting, I want to know, did you get your workout in today?

Adam Martin: I actually did. You guys can’t see on the video, but I’ve got my “Deadlifts and Chill” shirt on. It’s the same thing as “Netflix and Chill” but “Deadlifts and Chill.” So yes, sir, I worked at Club Pharmacy this morning and then went right to the gym. But yeah, that’s my life is pharmacy and fitness.

Tim Church: Awesome, man, me too. I got mine in, so I felt good going into this podcast, you know, making sure that I was ready. Got my workout in. So before you kind of do your workout, is there anything that you listen to? Any kind of music that gets you pumped up for a workout?

Adam Martin: Oh, absolutely, man. Throughout the whole time, not like a specific song, but a high BPM. If you guys have satellite radio, BPM is an awesome station. You guys can use like Pandora for free, but yeah, any high beat. I actually studied Spanish in addition to pharmacy, so I love like upbeat Da Miel (?), Yummy (?), all the awesome people out there that are doing like mixed reggae type stuff. So any like high beat, high energy. But then I also like some rock. If you guys listen to Disturb, they’re legit for really getting your mind in the game. For sure.

Tim Church: After I read your book, I thought maybe Lil Jon and the East Side Boyz maybe as well.

Adam Martin: Yeah, you got that reference. Well it’s funny, I actually play that song to keep my techs engaged at work. Whenever they say like, we need a mix for reconstituted amoxicillin, every then and now I’ll put “Shake it Like a Salt Shaker.” So yeah, man, you’ve got to bring in the fun. And that’s why I call it Club Pharmacy is because, yes, it’s very serious, we’re taking care of people’s health. We’re literally impacting their lives. But you have to have fun and enjoy that because if you don’t, that stress is going to eat you alive. So finding some sort of way to create that environment or joy, happiness is going to allow you to give to your full potential, and that’s why I do what I do.

Tim Church: Even if it’s with Lil Jon.

Adam Martin: Exactly. And actually, he’s really intelligent. So I know he’s making millions of dollars for saying three words, that being “yeah,” “OK,” and “what,” but this guy, he’s actually pretty intelligent — I don’t know if you’ve ever read up on him or not, but he makes some good mixes.

Tim Church: Yeah, that’s cool. I’ve been into like ‘80s montage music lately. So like all the Jean-Claude Van Damme and the Rocky movies. Those have been kind of my jams lately.

Adam Martin: Nice, man. Yeah, that’s what’s cool is it really depends on each individual, which is the whole approach that I have with health coaching that I do is there’s not a cookie-cutter plan where everyone fits into one category. It’s what are your goals? What do you like? What can you stick with? Because a lot of people fall into that trap of I want extreme results, so I have to make extreme sacrifices. Just like what we’re talking about with working out, like, oh no, I have to suffer. This is not going to be fun. Like this is punishment for the food I wasn’t supposed to eat. No. This is a celebration for what your body can do. Life is meant to be lived. And why walk when you can dance, man? So make it a party. So find that music that you love. I have some friends that really like classical music when they lift. That really juices them up.
Tim Church: That’s interesting.

Adam Martin: I don’t know how the heck they get through their workout, but that’s them, and you know, to each their own.

Tim Church: That’s how they hear it, yeah. Well, I’m really excited to kind of get your entrepreneurial journey and how you’re delivering value to other pharmacists out there. But before we kind of do that, can you talk a little bit about your career path as a pharmacist?

Adam Martin: Absolutely. So my career path as a pharmacist was my — I guess I’ll start with my why. My mom — actually, I love animals. We’ll start there. I love animals, so of course, the clear choice was I’m going to be a vet. Right? I want to take care of the puppies. I want to do all those things. So I very fortunately went and chatted at a vet clinic to kind of see what really went on. And it was not at all what I expected. I hated it, so luckily, that was in high school, so I was able to make a pivot to something else. Unfortunately, around that time, my mom got diagnosed with very aggressive cancer. I didn’t know it at the time, but she was given less than six months to live. And she was very determined, had a very strong mindset and ended up fighting for over five years in that battle. But during that time, we were in the pharmacy most days of the week. I don’t know any pharmacists personally at this time in my life. We don’t have any neighbors or family friends or anything like that, and all I knew was these people were really smart, and they’re crazy busy, like running around, short-staffed, all those things. But amidst that, a total stranger, my mom and our family, they would go above and beyond and really show that care and dedication and just say, like, “You know, can we drop this off for her? How is she doing?” Just genuine questions that just like caught my attention, like this is amazing that a total stranger can care so deeply for a stranger. So that really is what got me looking towards pharmacy in the first place. And then the more I looked into it, the more it was very clear I was meant to do this, like with absolute certainty. So I applied, I went to Pitt undergrad. And I applied to pharmacy school, super excited, and then I got rejected. “Your grades suck, this and that, you don’t” — whatever the reasons were, I didn’t get in. So I could have used that and said, “You know, this is crazy. I wasn’t meant to do this. This is too competitive. Blah blah blah.” But I really had my why. Like I was meant to do this. And instead of being discouraged, I got resourceful, I got involved in organizations, I was in the pharmacy school so much volunteering and learning, people thought I was a student. So I used that as my strength.

Tim Church: Wow.

Adam Martin: And then I actually the next year, applied again. I didn’t get accepted; I got waitlisted. I was the last person to get in my class, in my class of pharmacy. And I was like so excited and blessed. I’m like, oh, this is amazing. At the time, I was like, “Woohoo! This is great.” And we had orientation. And they talked about, don’t do this, don’t get in trouble. If you have a problem, talk to someone. And then the very last thing they said is, “By the way, you need to elect a president for your class.” And dude, it was a moment I’ll never forget. Like I was meant to do this. My parents really pushed leadership skill development. I was an Eagle Scout, all these things. And it was like, everything that I’ve done has now come to this point right now. So I ran for office, and I got elected president of my class. And I was like, you know what, I worked so hard to get in this, it literally took years plus one to get in here. I’m not going to waste this opportunity. So because it took so much, I overcame so much pain and rejection to get in there, I looked at this as such a gift. So I became like, how am I going to maximize this? Around that time, I also got into fitness. I’d been lifting for a few years, but I really got focused in the nutrition aspect. And what I found was if I went out and partied, I wouldn’t be able to concentrate in the classroom, and my workouts would suffer. But if I ate well and rested and did all the good things, I would be really focused in class, I’d make really good conversation, I’d take good notes, and my workouts would be amazing. So it was this dichotomy of fitness and pharmacy that really catapulted my success — not necessarily grade-wise, because I wasn’t a Rho Chi, I was more of a back-Rho Chi or a no-Rho Chi, so the grades weren’t all there. But the relationships, the learning, being involved in the community, volunteering. I went to seven conferences while I was in pharmacy school. So really just putting my energy in learning and connecting and networking and really making the most of all these amazing, brilliant people in pharmacy that I was blessed to have access to as my professors and colleagues. And whenever I graduated, it was right when the market started to shift. So when I was a first-year student, I was in Phi Delta Chi, and the people that were graduating in my fraternity were all talking about, oh, about a sign-on bonus or relo bonus, all those things that, you know, were the glory days of pharmacy. Well, that was literally the last year of that. That was I think 2008. And then it started to shift. Sign-ons were gone, relos were gone. And whenever I graduated, those didn’t exist. And it was really competitive. The job market really got tight. But because I networked and showed value, went to conferences, I ended up getting like six job offers when I graduated. Whereas people that just went through the motions didn’t even have any. Like there were some people that they didn’t know what they wanted to do, which is fine, you’re still looking to figure that out. But they didn’t have any job offers, so even after graduation, they were really struggling because that market shifted. So that really gave me an idea to not only help pharmacy students maximize pharmacy school but to help pharmacists and people in healthcare to live and give to the best potential possible because as you guys know listening, you’re probably in pharmacy, either a student or a pharmacist, there’s a lot of stress. Like a ton of stress. You’re trying to do 30 things at once, you’ve got flu shot quotas, you’re trying to give drugs that are off-market, and people are yelling at you, all these things. But you still want to give. You still have your why for why you got into this. But if you don’t have clear focus on that, it can really wreak havoc. And then you can fall into this trap of I’m here to give and serve, so me taking a lunch is selfish. Me giving up my time to work out instead of working out and taking care of myself, I’m going to give it to my patients. That’s really what it’s about. But short-term, that might work. But over the long term, that’s where it gets us into trouble. We start gaining weight, we start getting really overwhelmed with stress. And then it comes to a point where we’re not able to perform at our highest level. So by “giving our own self-care away,” we’re literally creating a detriment to the service of healthcare we’re providing. So self-care is not selfish at all. It’s the most selfless thing you can do because by investing in yourself, you can give more. And that’s my whole purpose is how to help people give their full potential.

Tim Church: I think you’re story of getting into pharmacy school and that path that you took is such a cool story just of resilience but inspiration on how you got into the field. And then I think you also made just a huge point about healing the healer, and that was always a point that was brought up when I was in school that you really have to take care of yourself. And I want to get into that a little bit more, but talk about what you’re doing as a pharmacist right now in your full-time job at a community pharmacy.

Adam Martin: Sure. So I love community pharmacy because it’s based on relationships and really having that rapport with your patients when they come in, you know them by their name, they know you by their name, you can follow up and say, “Hey, how was your graduation?,” sending them cards, just having genuine conversation and caring about people. That’s why I love going to work, and I can stand for 13 hours without a break and dance out of there like I just got there. So just having that level of impact and the relationships with the people to really just give and help them in their darkest moments because guys, when people come in the pharmacy, they’re most likely not having a good day. So if you can come to that interaction with energy and support and just being there for them, you’re going to impact their lives in so much — like it’s indescribable, the level of impact that you have the potential to make. But if we ourselves are facing issues that are controllable by diet and exercise, we’re doing a disservice. So by investing in ourselves, we can really make each and every interaction high-level. And I know that might sound like ridiculous or unrealistic, but I mean, I’m not at a slow store. We do over 500 a day without overlap. And you know, I go through the same stuff, tech call-offs, all the things. I’ve been doing it since 2012, so living in the trenches to give practical advice that’s realistic to help you with nutrition, fitness, dealing with stress, that’s kind of where that passion came from, unfortunately, through seeing so many other pharmacists succumb to that stress and the pressures that can take ahold of you if you allow it. So that’s where my one book came from, “Rx You: The Pharmacist’s Survival Guide to Managing Stress and Fitting In Fitness,” to take all those best practice tips and help you to overcome that and really invest in yourself.

Tim Church: Wow. I think you hit on so many points there that are just so key because you nailed it that pharmacists are so accessible and have the opportunity to really help people in multiple ways. But just even taking an interest in them when they’re at their worst can make all the difference. And I think sometimes, realistically, like you talked about, it can be difficult when you have all of these other things competing for your time and attention and just your own general energy and exhaustion. And so I think that other people probably listening are thinking, yeah, I get everything Adam is saying, but sometimes, I bet it’s difficult to maintain that same level of service and attention that you can give throughout your entire shift there. So I think that although it’s something that we should all strive for, it’s probably not always easy, right? To do that all the time during your entire shift.

Adam Martin: Oh guys, I’m not perfect. Like I make mistakes. But being able to do that the majority of the time and set yourself up so it’s easier — it’s not that it gets easier, it’s just that you get better. So it’s not that over time, stress goes away. Quite the opposite. You guys know, like they cut hours, more quotas, now there’s Shingrix on top of flu shots, and that’s on back order, so we just can’t wait ‘til that drops back again. But yeah, I mean, it’s not that it gets easier, it’s just that you get better. And you’re going to have days where life happens. If you’ve got kids, they kept you up all night or you’ve got relationship problems or you have a flat tire on your way to work, yeah, life happens. But being able to roll with the punches and bounce back from that, that’s what that practice. So what you practice in private is what you see in real life. So being able to do those rituals and prepare yourself so that when those things come up, you can face that adversity head-on and use it to strengthen you as a kind of overcoming a challenge.

Tim Church: Well, I mean, it’s cool, like I love the energy and the passion that you have just around the profession but your job and how you’re impacting patients every day. And I think that’s awesome, and you know, unfortunately, I don’t think that’s always the case in our profession. And it depends on your own ability to control your emotions and the things that are going on, but also there are some factors within the profession that do make it challenging to kind of come with that same level of passion and intensity. But I want to shift gears a little bit, and I want to know how did you become interested in entrepreneurship and creating this business, The Fit Pharmacist? How did that all come into play?

Adam Martin: That’s an awesome question, man. And I don’t really consider myself an entrepreneur because I have a full-time job, but I guess I’ve got like two jobs, like the entrepreneur gig. But it started out by literally just people coming to me and saying like, “Hey, how can I do this? What tips do you have? What suggestions?” and just helping them. And it literally created a community. What started off as an Instagram handle became a community and then a business, and now like this movement in pharmacy where there’s pharmacy students and pharmacists that share their story every Friday. I’ve been doing it for 2.5 years now for Fit Pharmacist Friday, where that’s a source of inspiration and motivation for others who are exactly what you said, going through these challenges. And we all have our seasons where we feel down or it’s not going to happen or tough times. But having that community, much like what you and Tim have with Your Financial Pharmacist of support and mentorship, is just so phenomenal that it just kept growing and I kept getting more and more people and then the followers started growing, and I just kept creating content because I love it and I’m like, hey, here’s an issue that I see all the time in pharmacy that people complain about. This is something that I’ve used and others find helpful, let me share this. And that’s how it spread is just creating value that works and is practical because you can want to be healthy and talk to a nutritionist, but they don’t really get pharmacy world and how we don’t have a break and we have to do 30 things with the manpower to only do five. So when they tell you to eat a salad for lunch and chew 30 times before you swallow, it’s not practical. So if it’s not practical, and you’re not going to do it, and then you’re going to be right back where you started. So having simple solutions that are actually, you know, going to be effective in your work environment is really where I thrive to cut through the crap. But it’s still using stuff that’s research-based, effective, scientific, but translating that to pharmacy world, whether that’s nutrition, fitting in workouts, mindset mastery through meditation or self-development through reading, seminars, things like that. That’s where my niche came from. Then it just became so many requests for people to do one-on-one coaching. As a competitive bodybuilder, a *drug-free* — pharmacist, but drug-free bodybuilder, yes, that just fueled my passion. And I just created this community, and it turned into a business, and I just started to think, you know, this is something. Like I get messaged every day by people all over the world — literally. In India, Spain, Africa, I write for a magazine in South Africa, like it’s literally a global community. So in order to do that effectively, I need to figure out how business works. Because I wasn’t trained in that, I don’t know what I’m doing. I’m just creating value with stuff that I love. And to answer your question, that’s kind of how the entrepreneurship worked is I just did what I love, did it from good reason, with good intentions to help people to overcome the struggles that I myself went through and see others doing and just kind of extending a helping hand. And that created the book and the community and the business. So that’s what I do now is I help pharmacists and pharmacy students do the same thing in creating their health coaching business. I’ve been in business since 2013 with the godfather of flexible dieting, Dr. Joe Klemczewski, and his partner, Dr. Cory Probst (?), who is literally the best health psychologist in the world. I actually joined them as a client when I first graduated pharmacy school, and I asked them like, “Hey, I have this passion for nutrition. There’s all these certifications. What do I do?” And he said, “We can train you to do what we do.” And that’s what I looked at for awhile just to kind of see time play out, check out was what they’re doing legit, get referrals, just doing all those things to make sure it’s all good because he was an idol in natural bodybuilding world. So I knew he had a huge following, really great integrity, everyone has awesome things to say. But you know, money talks, as they say. So I really wanted to play that out, and it was one of, if not the best investments I’ve ever made in my life. So I’ve been with them since 2013. I’m actually flying to Nashville this Friday to give a talk alongside them. So they started as my mentors, now they’re my colleagues and business partners.

Tim Church: And so what it sounds like, Adam, is that it took some time to sort of grow that community, put out a lot of great content, and then people were catching on, really seeing that value that you were bringing to the table. And it almost seems like they sort of naturally became something that you could monetize, that you were solving people’s problems that they were having.

Adam Martin: Exactly. And straight up, like I wouldn’t be here if it wasn’t for the awesome people in our community of the Fit Pharmacist movement. Like they’re phenomenal. Literally, you had mentioned earlier that not everyone’s always at the top of their game or so enthusiastic. Yes, that’s true. But I want to come back at that and say, there are so many that are, that they have hard days too. They’ve gone through those things, and that’s why I started that Fit Pharmacist Friday is to let people know that, you know, your colleagues, your students, might be Debbie Downers, I don’t know. But you need to know that there’s a community of people who have gone through some serious crap, whether it’s emotional or abuse or relationships or financial, and they’ve come out being so much stronger, creating strength from their struggle, making their mess their message, leading by example and being just a source of inspiration. So that’s why I do that. And it’s created this awesome community of pharmacists that are all about, you know, helping others. So that’s what it’s about, and I wouldn’t be who I am or where I am without you awesome people. So thank you. Thank everyone who’s listening and been with me on this journey because like you said, it did manifest naturally because — and it’s picked up momentum, so I guess a value point for those listening is very simple: Clarity creates power. So when I started, I had all these passions, you know, nutrition, working out, pharmacy, and it was like all over the place. But then finding my message and tying that all together, being an advocate and really resource to put self-care back into healthcare, particularly in the pharmacy profession, that’s when things really exploded because I got so clear and focused such that every action, every article I wrote, everything was tied to this one mission. And when you get clear on what you’re trying to do and the value and purpose of giving that you’re really on a mission to create and give to others, that’s when you’re going to take off. And I’ve read many books on this, I’ve gone to seminars with Grant Cardone, with Lewis Howes, with Tony Robbins, all this year, and it’s just getting those mentors. And I hear the same message, clarity creates power. Really get connected with your why, and stay true to what you’re looking to accomplish, stay true to that mission, why you’re doing it and the outcome that you want, and that is going to drive so much more success. And if you stay with that and be consistent and put in the work, you’re going to get results beyond what you could ever imagine.

Tim Church: It kind of reminds me of that quote from Zig Ziglar where if you help enough people get what they want, eventually, you’re going to get what you want. And that’s just really what I kind of hear as you’re going through that and talking about that because it’s easy to see that your passion and the power that you’re putting into this movement and parts of your business is really encouraging others but just having such a huge impact, and it’s really cool to see that. And to get a little bit more practical about the business itself, can you break down the different layers on how you’re bringing in additional income?

Adam Martin: Absolutely. The business is the Fit Pharmacist. And I have three main tiers with that. It’s expanding to a fourth right now. That being nutrition and health coaching, really helping people to live their best lives through helping them, specifically through mindset coaching, so how to deal with stress and anxiety, really have that attitude and practice of constant, neverending improvement, to really have those mentors and learn those things. The second being physical fitness, finding something that you enjoy because I love to deadlift, but you might not. Or you might have some physical ailment. So all my clients that I have, not one of them is interested in bodybuilding, and I am 100% OK with that. So just because I am a bodybuilder, that doesn’t mean that I expect you to be. That’s my passion. But you might like Zumba or something else. So it’s finding what you love and enjoy and doing that because it’s different for every person. And then the whole nutrition aspect. I do not believe in supplements or scam shakes or being reliant on a product because what’s going to happen when you go on vacation and don’t have the product or you go to a birthday party, and there’s no product there. It’s not living. It’s relying on an external thing. But when you really focus on education and being able to make those decisions and knowing nutrition, the science behind it, in a simple way. Not like a crazy, you know, professor-type deal, but practical knowledge, that’s going to allow you to become your best nutritionist. And I don’t throw you under the bus; I guide you through the process because everyone is starting from a different point. So that’s why I do very extensive in-taking with each of my clients to figure out what their goals are, what they’ve tried before, where they are right now and then where they’re looking to go so that we can create a realistic action plan.

Tim Church: And so do they pay you, is that like a flat fee for a service that’s over a certain period of time? Or how does that work?

Adam Martin: Sure. So the payment structure is based on time. So it depends on the individual because some people, you know, they’re at their healthy weight, they’re just really looking for more mindset. So I have a three-month program for someone that has that experience and they’re just looking to take that to the next level. I have a six-month program, and then I have a year-long program. So that’s why that intake is so important to really get to know the individual and based on where they are and where they’re looking to go, based on what their goals are, I can really make a recommendation for what would best allow that to practically happen. So that’s how that pricing structure works.

Tim Church: And then, so that’s one aspect of the business is doing basically consulting, helping pharmacists and other people get on a great nutrition plan, a fitness plan, and then what’s the other aspects of the business?

Adam Martin: So there’s a lot of pharmacists that feel like they’re not fulfilled. They feel like they’re just clocking in and just keep dispensing medications. It’s not their jam. They’re looking for another way. They’re really into the nutrition; they see the benefit for themselves, and they want to do that. They want to be the pharmacist that, you know, dispenses fitness to their patients and leading by example. But there’s so many internet programs and things like that, how do they do that? And how do they learn the business side? Because yes, there are pharmacy schools that offer PharmD-MBA programs, but you know, specific for fitness coaching, health coaching, things like that, that’s my other business is helping pharmacy students and pharmacists really do that practically from someone who actually does it. So it’s cool to get the inside business from like you guys do with your finance book, mistakes you made for investing and frivolous spending and so forth, just like me. Like I’ve made mistakes in building my business, spending money where it didn’t need to be, spending too much time doing this where it should have been that, so guiding them through that process with that whole plan and allowing them to do it at a faster rate with more success and I’m with them through that whole time so that, like I said, it’s different for every person, things are going to accelerate at a different pace. So being their coach through that process. I’ve been doing that for two years now, and it’s honestly one of the most rewarding things in my life because once you see someone really realize their potential and say things like, “Wow, I’ve always seen people do this, and I never thought I could do it. But I just did it, and it feels amazing.” I had one of my current clients for the 2018 course just closed his first health coaching client on a six-month program last week. And you should have seen him. Like he was so happy. Like it made everything, like all the work, all the late nights and everything that I had put in, it made it all worth it. That actually leads to the third layer of business, since you might pick up on I can’t shut up, and like I really done that for a long time, and that is speaking. I love to speak. It’s a passion of mine, it’s a natural gift. But really learning that and honing it so it can be effective in helping people to get those simple solutions to really empower themselves, whether that’s a mindset thing, staying in their element and overcoming stress at work, nutrition, social media, all of the things that I do and practice myself in a talk. So I speak at several businesses in the Pittsburgh area and all over. I’m actually flying to Nashville on Friday to talk about social media. But it’s a passion. I love it. And pharmacy schools are my jam. I’ve been working on a book for three years now to help pharmacy students master their whole experience in pharmacy school because I had an amazing education at Pitt, I love that school so, so much. But there’s some things that I wasn’t taught. Maybe I was not paying attention, so it could be my own fault. But there’s some things like building your personal brand, how to network effectively, like the ins and outs: what to do before a conference, after the conference, how to follow up, all of those types of things, I made a book. The first half is those practical skills that looking back as a pharmacist for eight years now, looking back in pharmacy school are my highlights, what were the things I wish I knew, that’s the first half of the book are those skills that will really set you apart and give you a competitive advantage in your career. And then the second part of the book is what took all the time. There are a collection of interviews from the best people in our profession, each chapter being a niche. So I have a chapter on specialty pharmacy with one of the best people in the industry. I have someone in research. I have someone that does PGY1 residencies, and all of those different things, those different avenues you can go, that are literally the top of their game. And I had pharmacy students do the interview so that they could get the experience asking them questions like, “Right now, you’re at the top of your game. If you knew you were going to end up here, and you were on Day 1 at pharmacy school, what things would you have done differently? What resources would you recommend diving into if this is your niche? What connections — where would you spend your time so that you would end up where you are, but at a faster rate so the value of that knowledge is really what took the time?” But then I took it a step further and what I told the dean who is a part of this project, Dr. Kroboth at the University of Pittsburgh School of Pharmacy, a phenomenal individual, so inspiring, I told her, “What I want to do is create this book, sell it. I want it in every pharmacy school in the country. But I don’t want to keep $1 from the sales. I want all of the money from the hard copy book sales to go to an endowment fund for a scholarship for a pharmacy student who is overcoming adversity and looking to make an impact in our profession.” Because I want to give back, I want to pay it forward. So that was my innovative way to create that. And that’s kind of why I’m so juiced about it, why I love going to pharmacy schools and talking, because it was the biggest gift I’ve ever gotten is a chance — a chance to get in and to really put my passion into work to make the most of that time. And I want to help others do the same, so that’s the why behind all my energy and talking and all the stuff that I do.

Tim Church: Wow. That is awesome, Adam. I didn’t know about that book. Is that out already?

Adam Martin: No. That has been in the works.

Tim Church: OK. So that one’s coming.

Adam Martin: That one’s coming in 2019. So it’s funny. I started that book three years ago. But then in the time, I was like, people really want like self-care tips. Like I keep getting messages every day, Instagram, Facebook, so I need to create a resource for that. So that’s where that book came out, and the response was, “Oh dude, you always say like the business is determined” — I forgot how this quote goes, but the market determines your success. That book came out, and 60 copies in 24 hours, it was a bestseller on Amazon, like it was incredible. I had people from Abu Dhabi buy it, Mexico, Canada, China, like amazing. Like literally worldwide reach. And I was blown away. Like I made this, I’m like, this will be like a cool e-book. And one of my mentors was like, no, no, no. You need to make this a hard copy book. I’m like, OK. So I did that, and I was like, I’ll sell like 10 copies. It’ll be cool, you know, to publish a book. But dude, it was amazing. And that just fueled and reinforced like hey man, you have something here. You need to keep going because you’re providing value, and it’s actually effective. And people are messaging me, saying, “This helped me so much.” Tony — Tony Guerra had me on his podcast, like dude, I lost 5 pounds from your one tip. I’m like, cool man.

Tim Church: Which tip was it?

Adam Martin: That was the water test, which I actually —

Tim Church: Oh, I love it. I love it. I do that all the time.

Adam Martin: Dude, I created that at work. So that’s in the trenches tip because I kept getting hungry because I was so busy, I would start feeling hungry. But I knew I wasn’t hungry, but I had this feeling. So I just chugged a bottle of water, and then 5-10 minutes later, the hunger feeling was gone. So I started looking into it, and I come to realize that the brain does not know the difference between hunger and thirst. So literally, if you feel hungry, it could be that you’re just thirsty. So in order to determine that, you’re probably dehydrated running around like a chicken with its head cut off at Club Pharmacy trying to answer all the 50 phones and the people trying to get their script filled ASAP. So chug a water, and it’ll likely go away. And 99%, dude, like I use this every single day. I used it this morning like three times. Almost every time, it goes away from drinking water. So that will save you unnecessary eating, extra calories, so it’s simple math. Like you guys are numbers with finance. It’s simple math. Calories in, calories out. If you can cut that stimulus so you don’t keep putting more calories in you don’t need, you’re going to get to your goal faster and not be walking backwards or not walking at all as we’re talking food.

Tim Church: Yeah, no, I love that tip. And there’s definitely some others that are really key in the book. I really like one of the lines that you put in there, and it was about that a lot of pharmacists, just based on the nature of the jobs, whether it’s community pharmacy or the other type of position, that a lot of times that excuse is, “Well, I don’t have to eat right. I don’t have time to exercise, you know, because of my job and because of my kids and because of all the other things I’ve got going on.” And then what you came back and said is, it’s not that you don’t have time. It’s that you haven’t figured out a system, a routine, the habits that work well with your lifestyle. And when I read that, I thought, wow. That really is the key is you’ve got to find something that works for you. So I think that was such a cool point that you put in there.

Adam Martin: Thank you, man. I appreciate that. It comes to the main concept of how I conduct my life, how I help my clients really find that “Aha!” moment for the system that you just described. It comes to something coined by my mentor, Dr. Joe Klemczewski, and business partner, that being structured flexibility. So you need a plan of what to do, things to cook, workout strategies and whatever, but you don’t want to fall into the psychological trap of black-and-white thinking. Like it’s this way or the highway. You need that flexibility component because as we know, life is not black and white. So if you try to do it in a black-and-white manner, you’re going to give yourself more frustration and anxiety when you’re trying to succumb those at the same time. So it’s going to be counter-productive. So if you have a plan, the structure, but you also have flexibility to kind of roll with the punches when things aren’t exactly as planned because such is life, you’re going to have a much easier and enjoyable time, whether that’s saving for finances with paying off debt, whether that’s mastering your mindset, nailing your nutrition at work and days off, and just like you said, finding the time to work out. I bring that up again in the book for pharmacy school, relating it to Beyonce. Like look what she does, like amazing things. But she has the same amount of time that we do, right? So she has a system to just be efficient, and she’s been doing it for so long, she’s putting in the reps, literally. It’s about reps — being good and building that skill by being consistent and practicing those things. So yeah, it’s not “I don’t have time” but it’s that “I’m not making it a priority to find that time. So and that’s different for every person. So you might have five kids, you might have a job where you have to drive three hours one-way. It’s different for each person, so really looking at your life to see where it can fit, kind of like how you guys do in “Seven Figure Pharmacist.” In the beginning, you talk about having that money checklist of really — the “vitals check,” that’s what it’s called, the “vitals check” of what am I working with? Where is my starting point? And then once you know that and have that awareness, you can know where you want to go and how to get there.

Tim Church: Well, Adam, there’s no question that what you’re doing is delivering a lot of value to people. I mean, I think everybody can hear that in your passion. But one of the questions that I wanted to know is certainly, you’re running a business and you’re monetizing a lot of what you’re doing, which is great because you’re providing good value. But what are you doing with the additional income that you’re earning from the Fit Pharmacist?

Adam Martin: Putting it back. Literally. I have a separate business account where all of my money goes in, and goes back into the business, creating value, creating better content. So now, that’s shifted into upping my podcast. I have a podcast, the Fit Pharmacist healthcare podcast, but I actually just interviewed your colleague, other Tim.

Tim Church: We need to talk, which Tim? Which one?

Adam Martin: Yeah, yeah. Other one. So increasing the quality of that, so the equipment to do that. I’m now getting really into videos, so creating that production. The other thing is I love, like you said, to give and use my passion and skills to make an impact. So I’m going to Panama in February on a medical mission trip with, actually, a girl that I met in the Fit Pharmacist community, who is just — that’s her niche. That’s her passion. She’s on an advisory board for a nationwide mission trip organization. And I had her on the podcast, I think it was like six months ago. And we were talking about how to go on a mission trip, like what to expect, how to get started. And in that interview, she said, “Oh yeah, we’re going to Panama.” And I’m like, “Oh, do you need another pharmacist?” She’s like, “Actually, yeah.” I’m like, hmm. That’s it. So that’s not cheap. You’ve got to fly, investing with travel and all the stuff and vaccines. Plus, it’s the opportunity cost, so as you guys know working at work in chain pharmacy, you don’t really get that much vacation time, but I’m investing my vacation time into that. So that’s literally how I spend. I reinvest it. I put it back into the business, into myself. So that’s going to seminars. Like I literally tried to think, how can I invest $15,000-20,000 in my personal skills this year? What am I passionate about? What am I looking to do?

Tim Church: I think that’s so good, Adam. I love that you’re reinvesting a lot of the money in yourself and in the business just because you believe in it so much. And I think that’s awesome. But I think a lot of people, they’re probably listening and just like on other episodes, that you’re doing a lot in addition to working as a full-time pharmacist. How do you practically manage the Fit Pharmacist with your personal life and your full-time job? And how many hours — what’s a typical week like in terms of how much time you’re spending on it?

Adam Martin: So that’s an excellent question. And there’s a really big dip that you can fall into of not knowing when to say no, not knowing when the cutoff is. So it’s not having a “To Do” list, but it’s having a “Not To Do” list that’s really going to help you in the long term because I see so many times people get into this niche of health coaching, and they go all in for 2-3 months, and then you don’t hear from them again. And they’re like, “Oh, I went through some stuff, blah, blah, blah,” or “Oh, I got too busy,” or “Oh.” But if you pace yourself — so that’s not saying, let off on the gas. But really having time blocking and chunking in your day. So again, it really depends on your schedule, whether you’re married, you have kids, being realistic with that. For me, — so Gary Vee, if you guys listen to him on entrepreneurship, Gary Vee talks about that magic — what is it? 10-2 hour, which my colleague and friend Richard Waithe practices. 10-2, he’s all about that. For me, that doesn’t work for my lifestyle because some days, I work mornings, some days, I work nights, so I kind of sandwich it. So I call it my power hour in the morning, which is really two hours, which is reading, daily devotion, just going on a 20- or 30-minute walk while listening to personal development videos or things like that. And then prepping for the day, setting my goals, setting my intentions, going through my gratitude list. I start every day, two hours, with that routine, and it really fuels me and sets me up. Then it depends on how my days are structured with work because I’m on a rolling two-week schedule. Sometimes, it’s two hours after that. But getting that two- or four-hour window in every day, but knowing when to quit. So it’s so tempting — and I did this for years when I started way back in the day — of I’m going to go to bed at 9, but then you get this idea and you start writing an article, and then it goes into another thing, and it’s 12:30. And you don’t want to “quit” or be lazy, but you have to know when to say no. And you have to really put your priority in real-life relationships. Social media is a huge trap. It’s a great tool, but it can really suck the life out of you.

Tim Church: Definitely. Definitely.

Adam Martin: I’m serious.

Tim Church: No, I know. Yeah.

Adam Martin: So really seeing what it is. It’s a tool, it’s social media, and putting priority on real-life interactions, literally like in person. That’s where it’s at. So being fully present with that person is the best compliment you can give them. So I love my family, I’m very blessed to have an amazing dad. He’s such a role model. Like he’s a missionary, he is building a library in Africa. Just the most giving and loving man of God I’ve known, and I’ve modeled my life after him. So I want to spend time with him. So I do that on a consistent basis. But it’s doing him and me a disservice by being there and being on my phone. So when I’m with him, my phone’s charging in the corner. I don’t see it. Or just having that promise to yourself that this is special time. I am going to be fully present with this person because I don’t know if he or she is going to be here tomorrow. I don’t know what the future’s going to bring. But I know right now, I have the gift of being with them. And I don’t want to waste that on some Instagram post or whatever. So time blocking and chunking is the best advice I can give. Practicing deep work, which I have a whole chapter on that in the pharmacy school book. If you guys ever read “Deep Work” by Cal Newport. He also wrote a book, “So Good They Can’t Ignore You.” Phenomenal author. But really chunking your priorities into times that fit your schedule but knowing when that cutoff is. So again, coming back to what I started with, it’s not making a “To Do” list but a “Not To Do” list. So have those non-negotiables. When 9 p.m. hits, it doesn’t matter what you’re doing, it’s time to stop. It’s time to be with your loved one and spend that hour that, yeah, you could write an article, you could do whatever, but you might not have that tomorrow. So really be present in that moment, and the best investment you can make is in the present with the people that are in your life. So that’s my advice as to how to keep it all together is know where your non-negotiables are, really invest in those that love and support you, and give back. That’s really the key. And it sounds so cliche. And I’ve heard that all my life, but in the past year, I’ve really practiced that, and it’s transformed not only my personal life, but my business life. And it’s been an amazing journey.

Tim Church: That’s so good, Adam. Thank you for those tips. I think that’s really great, and it just kind of highlights how important it is that, you know, you don’t have to be going 100 miles an hour in your business to be successful all the time. You know, there’s obviously going to be times, and it’s going to ebb and flow when you’re working hard, but also just making sure that you’re dedicating quality time to the people that matter most to you just because that is such an important thing to keep in mind as you’re going through that. So last question I have for you is, what advice would you give to other pharmacists or even students out there who have an interest in becoming an entrepreneur?

Adam Martin: So consistency is key. So what I mean by that is you’re going to read a book or see a movie or YouTube video or go to a conference or listen to a podcast where you get super inspired and want to go all-in. That’s great. That’s what we call motivation. The difference between people that stay in the game, that make an impact, that turn their passion into a business is shifting that into commitment. So motivation comes and goes. You know, it ebbs and flows with how you’re feeling, your interaction, your environment. It can be totally different from one day to the next. But commitment is you are tied to this goal. You have a why, and you’re tied to it. So you might not feel like going to the gym tomorrow. You might be exhausted or have a list of so many other things that you could do instead. But you’re committed to your fitness. You’ve turned your should into a must, a non-negotiable. This will happen, regardless of how I feel because I owe this to myself. When you make that commitment to yourself and to your goal, that is what is going to set you ahead. They say so often, go the extra mile. It’s not crowded there. Here’s why. That principle. Motivation vs. commitment. Everyone wants to go all-in, they want to grind, and you know, no sleep, like all work, all day, like no play, all work, whatever that is. And in the beginning, you’ll find that. And that only lasts a couple months. But the longer you stay in the game, the less and less people are there. So if you’re in the game for 4-5 years, there’s not going to be much competition there because it gets hard. Guys, it gets hard. Entrepreneurship is a lonely route. It’s not guaranteed. You’re going to eat crap. You’re going to sleep on couches, you’re going to have adversity you never saw coming. But if you are committed to that goal and that why and your reason, then that is how you’re going to succeed. So delayed gratification is another thing with that. It’s kind of a paired relationship. So you might be networking and putting out content for months without many likes or comments or shares. Keep going. Do not quit because everyone quits. But if someone comes on your article, and they see you’ve been consistently writing one a month or whatever, they’re going to be like, “Oh, wow. You’ve been in this a long time. That shows that you’re committed.” It’s looking at your track record. So those two principles, if you can like put those into practice, you’re going to make it. So be consistent. And be patient. They’re very simple but very difficult to put into practice. And I think if you do that, that’s what’s going to keep you in the game, and the longer in the game you are, it’s not a guarantee because you have to adapt and innovate with time and change and so forth. But that is really the secret sauce because so few people do it.

Tim Church: Adam, that was awesome. And thanks for sharing those tips. And I know that your story and what you talked about today is really going to inspire at least somebody out there to kind of go down this journey but just to pursue their passion. And I want to thank you for coming on the podcast. And what’s the best way for someone to reach out for you or to learn more about what you’re doing?

Adam Martin: So the ‘gram is my jam. So if you’re on Instagram, guys, that’s where I’m most active. @thefitpharmacist. DM me, comment on my posts. I get back to every single person. I pride myself on that because I feel like every interaction, there’s a reason behind it, regardless of what that is. I also have my website, TheFitPharmacist.com, where I have all my articles there, resources, that’s where I highlight all of the Fit Pharmacist Friday features that you can get inspired and connect with them.

Tim Church: Adam, thank you again for sharing your story, for coming on the show. It’s just been a real pleasure.

Adam Martin: Thank you, Tim. I appreciate what you and other Tim are doing. The other thing I say is, guys, get their book. It’s incredible. Seriously. Like I love to read, but it’s — I love how the book is structured. It’s just so simple and practical, so I can’t say enough good things about it. I love what you guys are doing with Your Financial Pharmacist, such a valuable asset to our profession. So it’s such a pleasure to finally meet you, meet you and talk to you, Tim, and I just can’t wait for what the future holds.

Tim Church: Thanks, Adam. Really appreciate that.

Adam Martin: Thank you.

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YFP 089: From Unemployed to Successful Pharmapreneur


From Unemployed to Successful Pharmacy Entrepreneur

On this episode of the Your Financial Pharmacist Podcast, Tim Ulbrich, co-founder of Your Financial Pharmacist, interviews Dr. Blair Thielemier, a successful pharmacy entrepreneur. She is the founder of BT Pharmacy Consulting, creator of the Pharmapreneur Academy and the Elevate Pharmacy Summit and author of the Amazon bestselling book How to Build a Pharmacy Consulting Business. Tim and Blair talk through pharmacy entrepreneur opportunities she has discovered through her journey from losing her job as a clinical hospital pharmacist to building a successful online business that provides pharmacists with efficient systems to managing a sustainable model for clinical services to improving patient outcomes and achieving the highest standards in the practice of pharmacy. They discuss what makes her tick as an entrepreneur, what changes she is seeing in the profession of pharmacy and how having your personal financial house in order is integral to having a successful business.

About Today’s Guest

After graduating with her Doctor of Pharmacy from the University of Arkansas for the Medical Sciences in 2011, Blair unexpectedly lost her full-time income as a clinical hospital pharmacist in 2014. She was asked to serve as an independent Medication Therapy Management Consultant Pharmacist, a niche position that was entirely new to her at the time but would be instrumental to her future success and entrepreneurial journey. For the past three years, Blair has been focusing on elevating the profession of pharmacy through advanced clinical services. In 2015, she founded a pharmacy consulting business BT Pharmacy Consulting, LLC and currently trains and coaches other pharmacists looking to start their own consulting businesses through an online e-course and membership site at the PharmapreneurAcademy.com . In April 2017, she launched the first online pharmacy conference in the industry. In 2018, based on the success of the first summit, she hosted a five day encore event in partnership with the National Community Pharmacists Association’s Innovation Center. The Elevate Pharmacy Virtual Summit featured pharmacists of various backgrounds practicing pharmacy at the peak of the profession. She is also the author of the Amazon bestselling book How to Build a Pharmacy Consulting Business.

Summary

Blair shares her story of losing her full-time clinical hospital pharmacist job to building successful online businesses. In 2014, while pregnant with her first child, Blair lost her job. Not knowing where to turn, she first took a hard look at her family’s finances to determine how much they truly needed to live and where they could cut their budget. From there, Blair contacted local independent pharmacies in her community to see if they needed her to fill in any shifts. She was given an opportunity to take over cases in a clinical program which she first declined. Blair felt like she wasn’t an expert enough in MTM to take on these cases. She thought she needed further board certifications or a master’s degree to be successful in this line of work. After accepting the position the second time, Blair discovered that MTM consulting was her passion and knew she needed to begin a business in northeast Arkansas and southeast Missouri.

Blair decided she would initially take on 3 or 4 coaching clients. She found challenges with each client as they were building their own businesses and was able to work through them. These experiences ultimately led her to develop her Pharmapreneur Academy course.

In working with clients to help them grow their businesses, Blair sees that pharmacists need to see their own value before they can pitch themselves confidently, that pricing your services appropriately is incredibly important so customers can see the value they are receiving, and that skills and trainings should be added as they are needed instead of adding them in case they are needed. Blair also shares about the need to bring more services elements versus products to clients.

Blair discusses other opportunities and platforms that are becoming available for pharmacists to work in, like genetic testing, the extremes of beginning the journey as an entrepreneur, the biggest mistakes she sees pharmapreneurs make, and much more.

Mentioned on the Show

Episode Transcript

Tim Ulbrich: Hey, what’s up, everybody? Welcome to Episode 093 of the Your Financial Pharmacist podcast. This episode has been a long time in the works where I have an opportunity and privilege to interview Dr. Blair Thielemier. So quick bio on Blair: After graduating with a doctor of pharmacy from the University of Arkansas for the Medical Sciences in 2011, Blair unexpectedly lost her full-time income as a clinical hospital pharmacist in 2014. She was asked to serve as an independent medication therapy management consultant pharmacist, a niche position that was entirely new to her at the time but that would be instrumental to her future success and entrepreneurial journey. The past three years, Blair has been focusing on elevating the profession of pharmacy through advanced clinical services. In 2015, she founded a pharmacy consulting business, BT Pharmacy Consulting, and currently trains and coaches other pharmacists looking to start their own consulting businesses through an online e-course and membership site at pharmapreneuracademy.com. In April 2017, she launched the first online pharmacy conference in the industry. And in 2018, based on success of the first online summit, she hosted a follow-up event, a five-day encore event in partnership with the National Community Pharmacists Association Innovation Center. The Elevate Pharmacy virtual summit featured pharmacists of various backgrounds practicing pharmacy at the peak of the profession. And she’s also — in case that wasn’t enough — the author of the Amazon best-selling book, “How to Build a Pharmacy Consulting Business.” Blair, welcome to the Your Financial Pharmacist podcast.

Blair Thielemier: Thank you for having me. Excited to be here.

Tim Ulbrich: This has been a long time in the making, so I’m excited to get you on the show. And I was planning, I went way back to 2016, shortly after I started Your Financial Pharmacist. And you may remember, you wrote an article for us on the blog, “Four Ways for Pharmapreneurs to Improve Their Financial Equation.” And we’ll link on that, but our discussion is really going to build on that. And I’ve been following along your journey and genuinely have great respect for the work that you’re doing that’s having a positive impact on the profession and, I believe, allowing pharmacists to pursue the dreams that they have to be the best clinician and the best businessperson that they can be. So thank you for your contributions, and thank you for role modeling that, even for my own business. I appreciate it.

Blair Thielemier: Thank you. I think it’s important, that’s something we don’t get a lot of in school, right, is how to promote our businesses, how to promote ourselves and market our services in the right way. So I thought it was something very important to help other pharmacists with.

Tim Ulbrich: All the fun stuff, right, that we don’t get in school.

Blair Thielemier: Exactly. I love it.

Tim Ulbrich: So as I was preparing for this episode, I was going back through the website, I was recalling my own experiences just following you and your business growth, and I thought, what a journey that you have been on. And so I want to start by taking our listeners back to 2014, just a few years after you graduated from UAMS, you’ve got your PharmD, you’ve been out for a few years, you’re working as a clinical hospital pharmacist. And you lose your job. What are you thinking at that point in time? What are the thoughts that are going through your mind?

Blair Thielemier: One of the main ones is “I am 6 months pregnant, I have a baby on the way, how am I going to pay for this?” I was planning on an 8-12-week maternity leave. Now, is that going to be completely out the window? Pretty much, how am I going to replace this income? But you know, before I could even start looking at that, Tim, I had no idea how much income I needed to replace. And I think that is an important part to start with in my story is literally, the first thing that I did after I lost my job was I went and signed up for Mint.com and Personal Capital, all these different sites and started trying to figure out, OK, if I’m going to make the bare minimum to get by, what does that bare minimum look like for me? And really, drilling down on our expenses, exactly how much we needed to bring in each month to keep our lifestyle pretty much the same.

Tim Ulbrich: Yeah, and we’re going to dive into that here in a little bit because I think as you and I have talked about before, getting your personal financial house in order is so critical to being able to approach business with confidence, to being able to take the risks that you need to take. And I think building a healthy business is a lot of that depends on your own personal finance. So here we are, you’re at 2014, you all of a sudden lose that full-time income. Do you think, as you reflect back on your journey today — and we’ll talk about the work that you’re doing here in a little bit — but do you think you ever get to the point of developing the businesses you started, taking the risks you started if that wouldn’t have happened back in 2014?

Blair Thielemier: Absolutely not. No. I think I was interested in entrepreneurship, but I really thought it was going to be something outside of pharmacy. I don’t think that I realized this opportunity existed until it happened. So when I lost my job as a clinical hospital pharmacist, I was pregnant, so I was just picking up shifts here and there at local independent pharmacies. So I was hustling on my student loans before we decided to have a baby, trying to get all those paid off. So people kind of knew me in the area as someone they could call with extra shifts. So I had gotten my name out there as a relief pharmacist for independent community pharmacies. And pretty much I just started calling them up and saying, “Hey, you know, I’ve got a lot of days open here if you need any vacation time.” And that’s how it grew. So I started doing that, picking up relief shifts, and to their credit, these pharmacy owners, they wanted to help me. I mean, they just welcomed me with open arms and really made up the difference in those shifts. So in working back in community pharmacy, they were like, “Hey, you’ve got this clinical background. We’ve got these clinical programs that we have to do now called CMRs, and we’d really like for you to start doing them for us, start taking over our MTM program and figuring out how to see these patients.” And I’d never done it before, so the first time they asked me, I said no because that’s scary, right?

Tim Ulbrich: Sure.

Blair Thielemier: You’re billing Medicare for a service that isn’t a product. And so luckily, I had kind of a mentor of mine, someone I had worked with in the past who she was doing some independent consulting doing MTM. And she helped walk me through my first few cases. So as I started doing more and more cases for these pharmacies, I fell in love with it. And I thought, this is what I need to do. I need to grow my MTM consulting business in northeast Arkansas and southeast Missouri because I’m licensed in Arkansas and Missouri. And so that was my focus. After the baby came and she was doing wonderful, so really in 2015, I’m thinking, OK, I’m growing this business. How am I going to do it? I know. I’m going to put up a website because if you put up a website, people are just instantly searching for you.

refinance student loans

Tim Ulbrich: Or make a business card, right?

Blair Thielemier: Or make a business card and just hand that out to everyone you see, and then your business will be successful, right?

Tim Ulbrich: Right, right. Yeah.

Blair Thielemier: Well, the problem with having a website is if you don’t have a plan to attract traffic to your website, it’s pretty much like that business card that’s probably in your glove box in your car, and no one’s seen it. So what I did, I was sharing information about MTM on my website and on my blog, which was BT Pharmacy Consulting. And if you had seen it back then, it was really, it was focused on people hiring me. So I was sharing this —

Tim Ulbrich: I remember that. I remember that.

Blair Thielemier: Yeah. So I mean, it came about very organically because I was trying to build my business here locally, and as I was doing that, I was writing these blogs and sharing them on LinkedIn, and then other pharmacists started contacting me like “What are you doing? What is MTM consulting? How can I do this? I’d love to get out from behind the bench, even if it’s just a few days a week.” And so I decided at the end of 2015 I would take on three one-on-one coaching clients, other pharmacists, just to see if I could help them. And very quickly, we identified several challenges to building their businesses, and we were able to work through those. And that experience with those three one-on-one coaching clients is what I decided to turn into the e-course at the Pharmapreneur Academy.

Tim Ulbrich: So much to unpack there. And I appreciate you sharing that. And you know what jumps out to me as I think about a lot of pharmacists out there today that I’ve heard from that are frustrated with either, you know, hours getting cut or frustrated finding a position, and you know, thinking back to your journey in 2014, you find yourself in that position, and at that point in time, you have a mindset decision to make, right? Is this going to be a woe is me? Or is this going to be an opportunity to build relationships, leverage the relationships you had, take some initiative, which you did, see a problem that needed to be solved and work through that? And obviously, as you know in building a business, you take one step, that leads to another step, that leads to another step. But often, we get hung up in kind of the overall vision, which can be very overwhelming. One thing I want to ask you about, though, that stuck out to me there is that you said no at first. So when you talk about those other pharmacies that you were working with, you said no at first. And you alluded to the Medicare reimbursement and maybe not fully understanding or appreciating that at the time. But were there other reasons you said no at that point in time? I mean, were there things that you felt like confidence-wise or self-limiting beliefs or things that you didn’t feel like you had the tools to begin with the business? I mean, I know you worked through that, but what were the reasons that you said no to begin with?

Blair Thielemier: Oh, absolutely. And this is what I also found my first coaching clients struggling with too. So one of the big ones was not feeling like I was the best person to do this job. So I felt like I wasn’t expert enough in MTM. I felt like I needed a Master’s in MTM or a board certification in ambulatory care or just whatever I could think of, I’m thinking that’s my comfort zone. I mean, I know that I can get through school, I can pass these courses, and I can rack up this education. And I do, I’m big on personality tests and stuff. So I’m an INTJ, and the trap that I myself get stuck in a lot is the neverending pursuit of more knowledge. Like I need to know everything about a subject before I can move forward with it. And really, what the mentor, Ashley, was able to help me with in walking me through those first few cases is just seeing how I already had the tools and the skills that I needed. And you know, and then when I went and started looking at, OK, now I want to build this business, I think I need to go back to school and get an MBA because you can’t own a business if you’re not an MBA, right? And so it was just — it’s been a constant struggle for me to, you know, to view myself as expert enough to be able to offer these services. And so it’s something I see other pharmacists struggling with. You know, all the time, they ask me, “Should I go and take this course? Should I go and take this certification?” or whatever. And I’m like, “Well, what are you doing? What does your client say you need? What setting are you working in?” So really, now, I like to say, I add skills and trainings as I need them not in case I need them. And that’s been a huge learning curve for me.

Tim Ulbrich: I think you are so spot-on there. I think for many pharmacists, myself included, we tend to be learners by nature. Right? And that’s who we are, and I think there’s a tendency to feel like we need to acquire all this knowledge, and I think if we’re honest with ourselves, many times, that’s an avoidance of wanting to really step into something that we can think we could do, whether it’s business or take on some risk or whatever, and it’s an easy out to begin to continue to pursue. And I would point our listeners to — I’m sure you’ve listened to the “How I Built This” podcast on NPR. And many of those successful entrepreneurs and business stories, many of them don’t have formal education. I would say a vast majority of them do not. What they saw was a problem that needed a solution, and they took a risk to do that. They were confident in their ability, but they weren’t perfect in their ability. They made mistakes, they had self-limiting beliefs like we all do, but they took that step. And I think that’s an important piece for many of our listeners to think of as they’re considering their own journey. So one thing I want to ask you, Blair, is that I think there’s many I’m sure that are listening to this podcast that have some business aspirations to take a unique talent that they have to tap into some unsolved problem or maybe a process that could be done better or differently, or maybe there’s others listening that are feeling stuck in their job but don’t yet have an idea formulated for what their business may be, whether that’s a side hustle or a formal business. And I think when hearing and seeing your story in hindsight and as I introduce you and hearing about all the success you’ve had with the academy, your consulting work, the book, the summit, on and on, that can feel overwhelming to people that are just beginning. What advice would you have to somebody who’s just starting or beginning on that path to overcome that anxiety and overcome that comparison with others and to just take that first step in getting started.

Blair Thielemier: Well, first of all, I’m a huge proponent of a side hustle or building some kind of business as an additional income stream. I think we’re living in the gig economy, and I see pharmacy consulting as a way to leverage the skills and stuff you already have because a lot of people come to me and I get emails all the time. It’s like, “I was afraid I was going to have to leave pharmacy because it’s just not for me. But that was before I knew that consulting was an option.” So whether it’s consulting, whether it’s real estate, whether it’s creating your own podcast about personal finance, whatever it is, whatever your passion is, I think it’s about looking at the value that you can provide the person in front of you. So you know, one thing I like to say is you first have to be sold yourself on your value in order to pitch your services confidently.

Tim Ulbrich: Amen.

Blair Thielemier: So unless you’re running a charity, you do have to charge money for your services, and I think selling yourself is an art. So talking about, oh, I’ve got this, this, this and this, like certification or letters behind my name, well, nobody cares about that. But they care how you can help them achieve whatever goals or results they’re trying to get to. So when you’re talking about say you’re pitching a physician’s office, you’re going into a physician’s office saying, “I’d really like to come in and see some of your patients. There’s this thing called pharmacy consulting that they’re embedding clinical pharmacists into primary care settings all across the country. Doctors are loving it, it’s helping with burnout. The financial guys in the office are loving it because I’m going to be helping with quality metrics and meeting your MACRA and MIPS quality measures, helping you get better reimbursement, no late penalties and all this,” but you’re not saying, “I can do this, this, this and this. I learned how to do motivational intervene, I learned how to — I’m a certified diabetes educator, blah blah blah.” You’re not talking about what you can do. You’re talking about what they need.

Tim Ulbrich: Absolutely.

Blair Thielemier: So when you’re thinking about promoting your services, whatever it may be, think about what the result the other person wants to get. So I say if you’re going into that physician’s office, you don’t have a relationship with them, go in with a list of questions because you can’t offer them a solution until you know what their problem is. And I think that’s pretty similar to and can be applicable to most businesses is your marketing message needs to be tailored directly to the needs of the person that you’re hoping to serve.

Tim Ulbrich: Absolutely. And I think, you know, I’m thinking of as you were talking there, you know, Pat Flynn and his podcast, “Smart Passive Income,” and his focus is on providing value, right? You have to know what you’re bringing to the table. You have to know what the problems are before you start to present solutions. And just to build off of what you said, Blair, around pharmacists charging, I think one of the things that I often see is pharmacists tend to undercharge for their services because they don’t yet fully believe in the value of what they bring to the table. And second to that, they don’t fully account for all the expenses that are involved with providing something. They stop often at their salary and say, this is what I make per hour, and this is the value I bring. I think that gets to some of the business aspects of the plan. I’m sure you see that way more than I do with your clients.

Blair Thielemier: Yeah, absolutely, because you do need to take into account, well, I’m going to have to be paying for some other stuff that are benefits given in my job like liability insurance and maybe even health insurance if you’re looking at doing this full-time. So there is a difference in what you’re going to charge as a consultant just to cover those basic expenses. But I also believe in — especially for cash-based services — you’re also pricing yourself and your services based on the results that you’re getting for the person. So you know, for example, when I started looking at what do I charge pharmacists for the academy? It’s what could building a business do for your life in terms of financial freedom, in terms of financial flexibility? And then I want to price it appropriately so that the customer also sees the value because if I was giving this stuff away, then people would not be as invested in, OK, you know what, I’m going to do this. I’m going to take this advice and move it forward. And that’s the same for our patients. If I’m doing a genetic consult for somebody, you know, I charge my full rate because I want them to take it seriously, to be fully invest in the results and what I’m telling them, and then also to commit to making the changes that I suggest in my recommendations.

Tim Ulbrich: So Blair, shifting focus here a little bit, we have — as you very well know — a healthcare system that is moving towards value-based care and payment models. But largely, what I’m seeing outpatient pharmacy — not everywhere, but is really stuck still based on a payment-for-product model. We seem to be caught in this chicken and the egg situation where we want to evolve the role of the pharmacist and be doing non-dispensing care activities and leveraging their expertise, but we seem to be in this vacuum where the payment mechanism don’t support these efforts for a variety of reasons. Simultaneously, we’ve got a growing number of graduates, pharmacies that are cutting their hours, we’ve got automation and technology and Artificial Intelligence and states that are expanding the roles of technicians and other healthcare providers that, to be frank, have prescribing rights but are available at a cheaper cost than a pharmacist. What do you as a thought leader in this space, what do you make all of this? And where do you see you role in addressing some of these problems?

Blair Thielemier: So the new models of care, that’s exactly the reason why I created the Elevate Summit because I wanted to share stories and the experiences of pharmacists who were doing something differently and succeeding in adding a more service-based product into their toolkit, so to speak. So you know, traditionally, pharmacy has always been a product-based business. And I think as we’re seeing reimbursements decline, we need to bring in those service elements because they can be profitable, you can charge cash for a lot of these things, and there are people all across the country that are doing them very, very successfully. So what I wanted to do with the Elevate Summit was to highlight some of these models, you know, one this year I’m in the process of recording interviews for the 2019 summit. This year, I’m interviewing a pharmacist with an all-cash business model — a pharmacy owner with an all-cash business model. I’m interviewing one who brings in an embedded nurse practitioner to do MedSpa stuff. So they’re doing like chemical peels and Botox in the pharmacy. And others, they’re doing diabetes education, they’re doing travel vaccines, they’re doing consultations on health and wellness. There’s so many different things that we can provide. And then to answer your point about there are other people out there that can provide similar services that may be cheaper than a pharmacist. So I hear this all the time. Why would a physician hire a pharmacist when they can just hire another nurse practitioner or physician’s assistant and the billing is so much easier? I mean, that’s a fantastic point. So you know what? I asked one of our physicians that’s joining us on this year’s Elevate Summit that exact same question. And what he said was, “They’re trained in the same way that I’m trained. A pharmacist is trained in a completely different way than the way I was trained.” So what he saw the value of the pharmacist is as bringing in that different perspective in looking at it at a completely different angle whereas the nurse practitioner or the PA, who were trained in the same way, are looking at it kind of from the same lens as the physician. So I think we need to own our expertise in the area of medication management and optimizing therapy. And I also think there’s a lot of opportunities — you know, everybody’s into genetic testing now. It’s like for Christmas, everybody gets like one of the —

Tim Ulbrich: It’s the cool thing to do.

Blair Thielemier: It’s the cool thing to do. One of my friends told me that her aunt and uncle went to a party — they’re from New York — and they went to a party, and the party favor like an Ancestry DNA kit.

Tim Ulbrich: Oh my gosh.

Blair Thielemier: So they all did their DNA swabs and then they had another party later to come back and everybody looked at their results, and it was all fun and games. And I’m like, OK, but did you know that you can actually use that information to make medical decisions about your health? I mean, you can use that information more than just like, oh, that’s cool, I’m 20% Irish or whatever. You can really dig in a lot deeper, and so that’s one platform that I want to promote more this year personally is getting out there and talking about the value that pharmacists can add in helping decipher some of these genetic test results. So I started — after my son was born, I’ll share this quick story. So my son was born in December of 2017, and when he was born, the neonatologist had him under the light and they were looking at him and she was holding him on his belly and kind of looking at the base of his spine, and he has a very, very deep sacral dimple. And my daughter had one too but not near as deep as what his was. And the neonatologist said, if I can’t see the bottom of this, we’re going to need to do an ultrasound to make sure that it’s not open. And so you know, I told her, I said, “My daughter had the exact same thing. She’s fine. There was no neural tube defect or anything like that.” And his was closed too, thank goodness. It was just much, much deeper than hers. So then I’m thinking, I took folic acid my entire pregnancy. What’s the deal? I had actually taken it from the time Aven (?) was born until the time Hoyt (?) was born, so I knew that it wasn’t because I wasn’t taking folic acid. But when I went and did my — it was one of the direct-to-consumer DNA kits, it came back that I had a high risk of Alzheimer’s and Parkinson’s, which actually exists on both sides of my family. My maternal grandmother has Parkinson’s, and my paternal grandmother died eventually of Alzheimer’s. And so in kind of digging a little bit deeper, I started looking at I’ve got this mutation in MTHFR that prevents me from being able to metabolize folic acid into the fat form, and so pretty much the folic acid I was taking wasn’t doing anything for me. But it was also, I went and got a blood test because I’m a guinea pig. And I like to — before I started taking methylated folic acid or anything like that, I wanted to know, what were my levels? What was my homocysteine level? And being able to start tracking that. So I went through with a fine-tooth comb, looked at all of my genetic markers, took them to my doctor. I was like, here’s the test I want. You can imagine. He was a very good sport about it, he was like, OK, I’ll try to figure out what these are and how we’re going to code these for your insurance. And so we did that, and you know, it came back that I’m a homozygous variant for the MTHFR mutation, and you know, I think now how close was my son or my daughter to having a neural tube defect because even as a pharmacist, I didn’t know that this existed.

Tim Ulbrich: And that’s why that party needed a pharmacist there to help them interpret their results. Right? And take some action.

Blair Thielemier: Exactly.

Tim Ulbrich: No, I think that’s a huge opportunity, and I’ve been following the work that you’ve been doing there, which is exciting. So for a minute, I want to talk about the value of having a sound personal financial situation to be in a position to start and grow a business. And I know this is a topic that you talk about with your community members and those in the academy and those that you’re coaching with the belief that really, a financially healthy business is built off the foundation of a financially healthy individual. So what does this mean for you and as you’re working with clients? You know, obviously, I’m sure for everybody, getting rid of all of their debt and everything is not necessarily realistic. What do you use in terms of the advice of getting yourself in a sound financial position that will allow you to take the risks and go confidently into the business aspirations that somebody has?

Blair Thielemier: Well, one question I get all the time is, how quickly will I be able to replace my salary? And so that question is a little bit difficult to answer because it’s kind of like, well, how much do you need? Not how much are you making right now.

Tim Ulbrich: Exactly.

Blair Thielemier: Not how much are spending that maybe isn’t on the necessities. But how much do you absolutely need? And that’s why I said when I lost my job, kind of the first thing that I went to was starting to track our budget because, Tim, this is embarrassing to admit. I didn’t know how much I made each month.

Tim Ulbrich: Yeah. Hey, I was there.

Blair Thielemier: I had no idea.

Tim Ulbrich: Yep.

Blair Thielemier: I knew what each paycheck said, but I had never really sat down and been like, OK, this is how much income I’m averaging each month. And I definitely didn’t know how much I was spending each month. If I didn’t even know how much — I knew a roundabout, but I didn’t know exactly how much I was bringing in each month. And I definitely didn’t know how much I was spending each month. So whenever I was able to take a hard look at those numbers and figure out, you know what, I don’t need to go shopping on Saturday afternoon because it’s raining and there’s nothing else to do and that kind of stuff that I was able that year that Aven was born, I lost my job, to take a $40,000 pay cut and be fine. We were able to now live well below what we were actually spending once we sat down and took a look at it.

Tim Ulbrich: And I think that is great advice. And we’ve talked so much on the podcast about budgeting to be able to determine what are those essential expenses, what to cut if you need to cut, and I think that’s huge for those thinking about some business ventures. They’ll say, OK, what do I actually need to live off of rather than what am I currently making or what am I currently spending each and every month. A couple things I would just add to that is that I think there’s two extremes on this that I’ve seen with the business, you know, some that say, I’m just ready to jump in, and I’m not worried about these aspects of my personal financial situation. And then the other end that says, I want to have everything lined up. I want to be completely debt-free, have a fully funded emergency fund, be on my path towards retirement, all these things taken care of before I jump into business. And you know, I believe that there’s probably somewhere in the middle that is reasonable for everyone. So maybe you look at, OK, I’ve got a plan for debt repayment, I’ve got a solid budgeting process in place. I’ve got an emergency fund. I’ve got the basics around insurance coverage while I’m working towards these other things, but I at least feel like I have a solid foundation so that I can jump into this business with confidence. And I think that allows people to approach their business in a more confident way and take the risks that they need to be taking. Blair, what are maybe the one or two biggest mistakes that you see new pharmacy entrepreneurs making? I mean, what are kind of the common traps that either fell into, probably I fall into, that you often see people that you coach going into? You maybe alluded to one with the idea of the website and feeling the need to start there. But what are some of the other common things that you see?

Blair Thielemier: So I think, you know, you mentioned not having — like some people have to have all of the information before they move forward. And definitely that was something that I probably should have been a little bit more diligent about when starting a business. I knew that I needed to register my business, I needed to have an LLC and all that. But I had no idea how to deal with taxes or any of that kind of financial stuff. So I am a big fan of investing in people that can coach you and help you through the processes like this.

Tim Ulbrich: Agreed.

Blair Thielemier: I ended up — so after my first year in business, I wasn’t doing quarterly estimated taxes or anything like that. I ended up owing about $17,000 in taxes. And it was something that I wasn’t prepared for because I really had no idea how to calculate that. So whenever I say I made just about every mistake in the book, I mean, it’s true. But we were able to come through that and, you know, now I know and hopefully I can help you guys avoid some of these pickles like that. But that would be definitely a big one, which is investing in hiring either a coach or some kind of professional to help you through that. I think once you have a business, you’re past the TurboTax, Do-It-Yourself thing, for me anyway because I will say whenever something is not my strength. And taxes and all of that is definitely not my strength. So I think it’s part of that is, you know, investing in your business. I think you can start a business relatively cheaply, but I don’t think your goal should be to spend nothing. So a lot of times, we’ll spend hundreds of thousands of dollars on our pharmacy degrees and then after that, it’s like I’m not going to pay $50 to do that CE. You know? And it’s like, I think professional development is a huge part of being successful, and this is also going to be a topic you’re going to hear me talk a lot more about this year is professional, personal, career development and what does that look like in order to do it in a way that, like I said, you’re not adding skills in case you need them, you’re adding them when you need them.

Tim Ulbrich: Absolutely.

Blair Thielemier: So as an entrepreneur, I value my time more than it costs to hire someone who is a professional in that space that can just come in and download into my brain, here’s everything you need to know. And if they can do it for me, even better.

Tim Ulbrich: Absolutely. And I think you’ve got to value your time and put a dollar amount to that. And that’s something that I am guessing like you and many other entrepreneurs struggled with at first, but I’m coming to appreciate more and more each and every year the value of depending on people that know exactly what they’re doing, they’re an expert in the space, and they can help accelerate business growth because it’s an ROI on your investment. So let’s talk about legacy for a minute. You know, I look at your vision statement, Blair, on your website, is powerful. It says, “In the next five years, helping hundreds of pharmacy businesses add millions of dollars in revenue and to serve them as an advocate for clinical pharmacy services.” And I think that it’s fair to say that the work that you’re doing today is going to be left behind for others to build upon and for your kids to admire and say, “Yes. That was my mom that did that.” So my question for you is, what do you want your legacy to be?

Blair Thielemier: Oh, I love that. Great question. So you know, it’s definitely — it is about my kids seeing me doing something that I’m passionate about, that I love, that I truly believe, this is my purpose is to bring together all this stuff that I’m interested in, present it to pharmacists as here is a viable financial model for really loving your career again. And you know, we’re being faced with a lot of challenges. You mentioned them earlier, just job market saturation and then AI coming in and maybe we won’t need to be doing the dispensing anymore. So then what are we going to do if not dispensing? We need to create these opportunities for ourselves, and a lot of people say, oh, we need provider status to do that. Well, you know, physicians have provider status, and they’re not getting reimbursed the way that they want to, so I’m pretty sure we’re not going to be reimbursed the way we want to, even if we did get provider status. So I think the opportunity there is to come up with unique things that maybe even exist in the market but that aren’t being done the way you would do them as a pharmacist like the genetic testing, like the health and wellness consulting where you’re counseling people on, oh, if they’re going to use CBD oil, make sure it’s not interacting with some of these other medicines or if they’re going to use this or that supplement or herbal medicine. And it’s a huge opportunity for pharmacists to get into the preventative medicine space, and so my legacy, I really, I want to bring about these ideas for new opportunities. But I think more importantly, I want to give you the skills that no matter what you’re doing, no matter what you’re selling, what business you’re in, you can feel confident in going out and marketing your services and selling them in a way that feels authentic. You know, that’s something I hear a lot of pharmacists say, “Well, I don’t want to feel like a salesperson. I don’t want to feel like sleazy, trying to push my product on people.” And that’s kind of why I said, well, first, before you sell your product to anybody else, you have to believe in it yourself.

Tim Ulbrich: Absolutely.

Blair Thielemier: You have to have bought into it 100%. And I think that this thing that I have can solve your problem and then you present it like that. You know, here’s your problem, here’s what you’ve told me you need, here’s the solution that I’ve come up with that I think will help you achieve what you just told me your issue was. And then when you introduce your price point, it’s kind of like, well, you know — it should be a stretch, your price point should be a stretch for whatever so that they can see the value in it, but it should also be something that they’re like, yes, absolutely. I get what you’re saying. That makes sense. So giving pharmacists that business acumen, I guess, is really my ultimate goal so that whatever it is they’re selling, they can do that confidently and then they can grow their business confidently.

Tim Ulbrich: Yeah, and I think there’s that compound effect where as you’re training and teaching other pharmacists, they’re going out there and impacting patient care lives in a way, in a far greater number and a way than you could ever do yourself. And I love watching that and how you’re inspiring others. And I would also add, I think part of legacy for me — and I think you share this from what I’ve been observing your journey — is the legacy of our children. And I sense a passion for you in teaching your children about entrepreneurship and business and probably at a young age, just the role modeling, but I think that’s something that I’m passionate about, my wife and I share that. And I’m hopeful that that’s something that we can collectively do and thinking about how do we teach and train the next generation, you know, the skills that maybe we didn’t get ourselves or didn’t feel like we received through our formal education. So a couple last questions here that I want to make sure we give our audience insight into. Starting a business — and I alluded to this earlier that we often see the glamour, we see the glory — but you and I both know that it is absolutely exhilarating, but it’s also hard and it’s a grind at the same time. And there are moments that you can feel overwhelmed, there’s moments that you can feel unfocused, there’s moments that you feel like are stressful. And you go through those times of excitement and obviously, you remember exactly why you’re doing what you’re doing. What do you do — what is your process to kind of bring yourself back to that reason of why you’re doing what you’re doing when you’re feeling overwhelmed or unfocused or you’ve lost that focus temporarily. What do you do to re-engage? How do you keep yourself motivated along the way?

Blair Thielemier: So I was thinking about this the other night. So I try to do a meditation almost every night, just to kind of clear my head and think about exactly what you just said, why it is I’m doing what I’m doing. And I’m a very self-motivated person, but I think it’s because I have sat down and I have put together these goals. Like you mentioned, you know, the vision statement on the website. I put that on there to remind myself and to remind others what is my ultimate goal. So do you have your goals written down? Do you know what you’re working towards? A lot of times — so I work with a lot of independent community pharmacies as well as independent consultants who want to go in physicians’ offices. But they will not have kind of a guiding goal. So take health and wellness, for instance, if your big goal is to become a health and wellness destination, you know, maybe some of these other programs, it’s OK to say, “No, I don’t think that’s right for my audience at this time.” And that’s how I do a lot in the academy now is looking at so is this right for my audience? Is this program going to help them move forward with their goals? And then ultimately, advance the profession of pharmacy and help them add millions of dollars of revenue to their businesses? So I think it really is about going back to those goals and staying focused. So in the beginning, it was hard. I mean, but I loved it. I would get up early Sunday mornings and stay up late at night after my daughter went to bed. And I truly enjoyed what I was doing and working on my business. Whatever you choose, make sure whatever business you choose to go into that you’re cool with talking about it all the time because I really feel like I could talk about MTM and entrepreneurship all the time and never run out of words and run out stuff to talk about. And that’s the fire and the passion that you need to be able to bring to your business in order to have the endurance because I mean, it is a long game. That’s why I tell people, don’t build a website unless you have a long-term plan to bring traffic to it. Or don’t start a podcast unless you have a long-term plan to continuously upload episodes.

Tim Ulbrich: Yeah, and that passion comes through in what you do. And I think it’s contagious and really allows the success that you’ve had and the academy members and drawing people to you. So before we talk about the academy and the virtual summit here to wrap up, how about a book and/or a podcast recommendation for our audience? Something that’s inspiring you, that you’re pulling from, that’s motivating you, that you think would be valuable to our community.

Blair Thielemier: Oh, so next up on my read list — I haven’t read it yet — is “Mindset” by Carol Dweck.

Tim Ulbrich: Heard of that.

Blair Thielemier: Yeah. So I’ve listened to her on a couple podcasts, and I really like what she’s doing. So mindset is a huge, huge issue for people. So one of the things that held me back in the beginning was I was afraid to one, to market myself as an expert, so to speak, in the field. And then two was I was worried what other people would think of me. I would put out a video, and instantly be like, should I take that down? You know? Because I was worried, what will my colleagues think? What will my husband’s friends think? What will all these people think? And you know, and occasionally, people would say to me, “Oh, I watched your video, but I didn’t understand what you were talking about.” And so, I would just kind of, “Oh yeah, you know, well it’s because it’s for pharmacists. You’re not my target audience,” obviously, but I think having the mindset of like I’m going to do this for me, whether or not anyone else is listening, that was really kind of the what I needed to hear in the very beginning, and I heard that from my business coaches and my mentors of saying, “You know what, just keep doing what you’re doing. You’re going in the right direction.” Even when other people were saying, “I don’t think pharmacists would pay for that. I don’t think they’re going to join your course. I don’t think they’re going to pay a monthly fee for business coaching from you.” And I still hear it. I still hear people say, “Oh, I think your course should be lower so students can join,” or “I think your course should be higher.”

Tim Ulbrich: They would be saying the same thing if it were a third of the price, right?

Blair Thielemier: Exactly. So it’s a lot of like just listening to yourself, and if you’re comfortable with it, I think just pick a direction, pick a number, and go with it. You can always change and reiterate later. But I think that was a big part. So the “Mindset” book by Carol Dweck I think if anyone wants to chat with me about it, I’m going to have lots of time for reading here coming up as we’re headed to South Africa, so it’s going to be a very long plane ride. So I’m getting my Audible and my podcasts cued up.

Tim Ulbrich: I look forward to reading it. Mindset is my personal mission for 2019 for all of the reasons that you mentioned. And I think similar to you, as I look back to my business journey and even just personal life, you know, whether it’s places stumbled, mistakes that I’ve made, if I wouldn’t have confidently taken the step to put myself out there, I would have never made those mistakes, which every one of those has been a learning opportunity, which has resulted in something else being better that I can bring better value to our community. So I think having the mindset around how you may go into certain situations, mistakes that you’ve made and looking at those as opportunities to continue to grow your business. So let’s finish up here, the Elevate Virtual Summit coming up May 8-12, 2019. Our listeners, I hope you’ll be there, great content planned, as Blair mentioned. You can get your free ticket by registering at ElevatePharmacySummit.com, and we’ll make sure to link to that in the show notes. And Blair, just for a minute, the Pharmapreneur Academy, I referenced that in our introduction, our listeners can go to YourFinancialPharmacist.com/academy, and they can use the coupon code YFP50 to get $50 off their first month. But tell us a little bit more about what our audience can expect if they were to engage a little bit more in that academy.

Blair Thielemier: So the academy, as I mentioned, is the e-course I built based on our one-on-one coaching program. So I created the MTM consulting program as the base of the academy. Since then, I have continued to build on new trainings and new modules. We go from very beginner stuff like should I get an LLC? Where do I find liability insurance? You know, how do I cold-call my potential clients? OK, they said yes. Now they want me to implement annual wellness visits in a primary care clinic. What do I do next? Or OK, now I want to do cash-based genomic consulting. What should I do with that? So the e-course, it builds on itself, and it goes from the beginner stages up through much more advanced content. So it’s a self-paced e-course. You can log in, get instant access. If you use the coupon code YFP50, you’re going to get $50 off the first month. And so you can cancel that anytime. It is a recurring membership, but we don’t hold anyone hostage. So you come in, go through the e-course, use the forums. The forums is where, you know, a lot of our members say is their favorite part of the academy because they ask questions, they get feedback not only from me but from the other pharmacists in there, so we’ve got about 150 pharmacists that are in the academy. You know, it’s not like a forum if you’re part of one of your national organization’s forums that you ask a question in the forums, it may or may not get answered. Or you may not get the answer you were actually looking for. These forums are monitored every single day by me and my team, and you are guaranteed to get an answer from one of us. So that’s where we kind of do our daily group business coaching. And then we also have a monthly member call the last Tuesday of every month, it’s a live Zoom call, like a video conference call that everyone who’s a current academy member can jump on, sometimes we bring guest experts like you, Tim, in to talk about –

Tim Ulbrich: Looking forward to it.

Blair Thielemier: Yeah, to talk about like financial, getting your financial foundation under you or in January, we brought in a sales coach, the sales maven Nikki Rausch, so whatever it may be, we kind of sometimes bring in guest experts, sometimes, we just do a Q&A, sometimes, I’ll do a special training. It really depends on feedback from the academy members. And that’s something that I’m big on. I probably ask for feedback maybe too much, but I really want to continue to build and grow the academy, and I do that by listening to what our members are telling me that they need.

Tim Ulbrich: Awesome. So again, that’s YourFinancialPharmacist.com/academy. YFP community members can get $50 off their first month by using the code YFP50. Blair, this has been fantastic. I’ve enjoyed this, looking forward to collaborating in the future. And thank you so much for your time and coming on the show.

Blair Thielemier: Thank you for having me.

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YFP 086: How to Spark Joy as an Entrepreneur


How to Spark Joy as an Entrepreneur

On this episode of the Your Financial Pharmacist podcast, Tim Church, YFP team member, interviews Dr. Jessica Louie about how to spark joy as an entrepreneur. Jessica is a Board-Certified Critical Care Pharmacist and Assistant Professor of Pharmacy Practice. She is also a multi-passionate entrepreneur with 3 small businesses. Jessica is the CEO of Clarify Simplify Align, High Performance Life Coach, Professional Organizer and Certified KonMari Consultant.

About Today’s Guest

Dr. Jessica Louie is CEO of Clarify Simplify Align, High Performance Life Coach, Professional Organizer and Certified KonMari Consultant who helps busy professionals gain clarity of their purpose, simplify and declutter their home and minds, and align their work into their lives with simple processes to avoid overwhelm, lead with confidence and curate lives they LOVE.

Jessica holds a Doctor of Pharmacy degree from University of Southern California (USC), Advanced Practice Pharmacist license (APh) and is board-certified in critical care (BCCCP). She uses her healthcare background to coach clients through emotional and difficult decisions. Jessica resides in Pasadena/Los Angeles, California and serves her clients in-person locally, travels to Salt Lake City, Utah and Brookfield, Wisconsin and provides virtual coaching sessions.

Summary

On this episode, Tim interviews Dr. Jessica Louie about her entrepreneurial journey in the creation of three businesses that have really taken off. In the beginning of the episode, Jessica shares more about her background and the inspiration she had to start side businesses on top of her busy full-time pharmacy career. Jessica is an Assistant Professor of Pharmacy Practice at West Coast University School of Pharmacy and is a critical care pharmacist working in an intensive care unit at a hospital. She divides her time between both settings and truly loves the patient interaction she has. At the end of her residency, Jessica was burned out. After some life changing events, she realized that she wanted to live with more intention and focus on spending time with people she loved. She was also ready to take on new challenges. This began a transformative journey in finding her why and beginning several businesses.

Petit Style Script, Jessica’s first business, is a fashion and lifestyle blog that helps women make intentional clothing choices by investing in quality pieces and by creating a capsule wardrobe. She dove deep into website design, social media management and marketing which helped to keep her costs lower. Her revenue is earned by affiliate commissions and through sponsored content instead of through a signature product.

In her newest business, Clarify Simplify Align, Jessica helps other busy professionals gain clarity of their purpose, simplify and declutter their home and minds, and align work into their lives. She takes clients through a transformative process that includes a free consultation, a simplifying process in decluttering your home in an intentional way, and using your new mindset and habits to apply to other areas of your. Jessica is a certified KonMari consultant which is the popular method founded by Marie Kondo, however, she believes that this whole process is more than the KonMari method. She provides emotional and physical support while also offering accountability to her clients. She shares that there are many benefits to decluttering and organizing your environment like gaining free time, reducing anxiety, taking control of your health and finances and gaining confidence in decision making. She works with clients locally in Southern California but is also able to host virtual online sessions.

Clarify Simplify Align was created in July 2018. Jessica currently earns 5 figures and has a goal of moving into the 6 figure range in the next 12 months. Her side hustle income is being allocated toward savings, investments, and travel. Jessica has been able to balance the work with her businesses and her full-time pharmacy career. She spends about 25 to 35 hours a week on her businesses, depending on the number of clients she has. Her biggest advice to pharmacists that are wanting to step into an entrepreneurial journey is to gain clarity and follow your passion.

Mentioned on the Show

Episode Transcript

Tim Church: What’s up, everybody? And welcome to Episode 086. Wow, that is just crazy to say that number as we move closer to 100 episodes. Now, I can hardly take any of that credit, given the other Tims have done most of the shows. So kudos to them. And also I want to have a big shout out to Caitlyn on our team, who does our editing and does an excellent job. If you basically consumed any news or social media in the past couple months, then you know about the show Tidying Up with Marie Kondo. And the show is just everywhere, and it’s an incredibly popular series on Netflix right now. But just in case you’re in the dark, this show is all about world-renowned tidying expert, Marie Kondo, helping clients clear out their clutter in their home and choose joy. So what the heck does that have to do with today’s episode? Well, our guest today is not only an accomplished pharmacist, but she’s one of the few that holds the KonMari consultant certification, which basically allows her to perform in-home and virtual consults, similar to what you see Marie Kondo do on the show. So I’m really excited for her to talk more about this and her other business ventures. So let’s go ahead and jump into the interview. Jessica, thank you so much for taking the time to come on the show and for being part of this side hustle edition.

Jessica Louie: Thank you for having me, Tim.

Tim Church: When I sent out the first email alerting the community that we would be talking more about side hustles on the podcast, you were the first one to respond, and I could tell that this was something you were excited about and wanted to share what you’ve been doing outside of your full-time job. So before we kind of jump into your businesses and your pharmacist’s career, I want to know what gets you so fired up about this topic of side hustles and entrepreneurship.

Jessica Louie: Well, thank you. It was really a life transformation in terms of starting my small businesses 2.5 years ago. And it’s definitely been a great learning experience for myself that I really would love to share with other pharmacists and healthcare professionals and students.

Tim Church: That’s great. And kind of going back into before you started any of these businesses, where did that inspiration come from where you just decided, hey, I’m going to do something outside of my typical pharmacist job or my duties there?

Jessica Louie: Well, as I was finishing my residency back in 2015 and transitioning into my role as an assistant professor in pharmacy practice, I was really undergoing a burnout type of episode in healthcare at that moment. And like other busy professionals, I was kind of spinning around this quarter-life crisis, accumulating things in terms of I had been on a long journey of nine years of training for my bachelor degree, doctorate, residency, PGY1, PGY2, board certification, and you know, I wasn’t really enjoying the journey. I was just trying to get to the finish line. And then I realized, you know, how life can be really short when my aunt died suddenly at age 51. So now I really like to live with intention and be present by the people I’m surrounded with and the things I’m surrounded with that spark joy. So I really want to share my story to see if it will help inspire someone else to really transform their own life and really be happy with their day-to-day life.

Tim Church: Wow, thank you for sharing that, Jessica. I love what you said there about being intentional and kind of getting the fire started to pursue some of those passions and ideas that you had. And I believe that’s so true. And I think that that’s one of the most common characteristics of people that have an entrepreneurial spirit is just being intentional about what they’re trying to do. And a lot of times, we live a life that’s reactive instead of proactive. So that’s really great. So can you talk a little bit about your current role as a pharmacist? You mentioned that you had a long journey and did residency training in order to get there. But talk a little bit about the role that you’re in now and what you’re doing.

Jessica Louie: Yes. So right now, I am an assistant professor of pharmacy practice at West Coast University School of Pharmacy in Los Angeles. And I am a critical care pharmacist, so I work in the intensive care unit of a local hospital. And you know, my current role is really divided between the university and my practice site. So this is my fourth year teaching at the School of Pharmacy, and I am really passionate about teaching critical care topics related to respiratory and cardiology. And most recently, I am developing elective courses to focus on well being, resiliency and burnout prevention in our graduate students. So that’s a passion of mine in the pharmacy world.

Tim Church: So how do you split that up between your teaching responsibilities and your role in the critical care unit?

Jessica Louie: Currently, I spend a little bit more time at the university. About 60-70% of my time is at the university during the semesters. We have 12-week semesters, and we have long winter and summer breaks. And then I’m at the hospital setting two days a week, usually. And it’s a great balance in terms of being there to educate the students and also being there to stay up-to-date on the healthcare institution.

Tim Church: Great. And can you go into a little bit more detail about what is your day like typically at the hospital?

Jessica Louie: Typically, at the hospital, it’s a local community hospital. And it’s a Level 2 Trauma Center, so we’ll usually start where you’re going in and working out patients, getting ready for interprofessional rounding in the intensive care unit or with the other medical teams. They do have medical students and medical residents at the institution. And then going on rounds and completing some of the in-person work with the patients with their medication reconciliation, their pain management and preventative health screenings and putting some progress notes, both for the other healthcare professionals and for pass-off to the other pharmacist. And during that process, if there’s students on rotations, walking them through that process in the morning and then also meeting with them in the afternoon for educational discussions on different topics and different patients. And then also assisting other pharmacists in the setting to see what they need help with.

Tim Church: So it sounds like you’re in a very clinical role that’s very much participating in direct patient care and working with other healthcare professionals. Would that be true?

Jessica Louie: Yes, and really trying to see where we can expand service lines because in California, there’s, you know, a need for some expansion of service lines in the hospital setting. So working on that right now. We just had a new law passed in California requiring pharmacists to perform the medication reconciliation in the hospital setting. And I know some hospitals are struggling with that new implementation of that law. So seeing it work and help with resources and things like that.

Tim Church: And what would you say are your favorite aspects about your job? You know, I think there’s a lot of negativity in our profession, and I think it depends on the setting that you’re in and the responsibilities that you’re doing, but what do you most enjoy about what you’re doing as a pharmacist?

Jessica Louie: I definitely enjoy the patient interaction and helping them through the process. I know critical care in the intensive care unit can be an emotional and difficult situation for these patients and their families. And that’s one of the reasons why I am part of a new initiative with the Society of Critical Care Medicine to target post-ICU syndrome. So similar to PTSD, our ICU patients and how they transition and how their quality of life changes, so that brings me a lot of joy in terms of trying to give back to these critically ill patients and their families and making sure that they do have the support system, even when they’re outside of the ICU setting and in transitions of care.

Tim Church: Wow. I think that sounds like a really great program. And I, working in ambulatory care, I didn’t know that that was even a thing or something that patients were dealing with. So I think that’s really a great initiative to kind of get that going and identifying that patient need and looking for ways to integrate into that program. So I think that’s really cool.

Jessica Louie: Thank you.

Tim Church: So you talked about that you’re on this long journey, it’s taking you nine years with all of your residency training. Do you feel like it was worth it?

Jessica Louie: I definitely feel that it was worth it. I think that’s it’s important to take a step back, though, and remember that it’s not about getting to the destination. It’s about enjoying the journey and the experiences. And I think that there were times during that nine-year process where that was definitely forgotten. And if you’re familiar with the growth and fixed mindset type of philosophies, it was definitely in this fixed mindset instead of a growth mindset in terms of, you know, doing this for myself and for my patients. And you know, just getting back to why did I really go through this process? And what impact do I want to have on patients and the healthcare community and other people? So it definitely was worth it, and I wouldn’t change it looking back.

Tim Church: That’s so good. And I think you made some really strong points there. And I think that a lot of pharmacists who are on a long journey to get to their career and where they’re trying to is sometimes you can forget a lot of those things that are important along the way. So you talked about at some point, you got inspired and you wanted to start pursuing some things beyond pharmacy and really focus on some other passions. So what were some of your main motivations besides, you know, feeling like life is so short and that you really have to be intentional about going after things that you want to do. What were some of your other main motivators?

Jessica Louie: At that point in my life, you know, I really had achieved the things that I had set out to achieve. And it was time to take on new challenges. I like new challenges and lifelong learning, so I had, you know, a strong passion for helping other women feel confident in how they dressed and their wardrobe choices. And you know, I started that as basically my first hobby that I turned into my first small business called Petite Style Script. And you know, because I like to challenge myself, I wanted to learn how to website design, how to run social media and marketing, so I ran all of that as a solopreneur over the last 2.5 years. And I gained a lot of skill sets that I was able to apply to my other two businesses.

Tim Church: That is so cool. So you really bootstrapped a lot of this getting in off the ground in terms of I’m going to learn how to do all of the back-end work, I’m going to learn website design. I’m going to do it all. I think that’s really cool. And sometimes, I think especially if you don’t know where to start or maybe you’re limited with funds and don’t want to hire people, that that’s a great way to get going. So talk a little bit more about Petite Style Script and kind of what that business is all about. And what are some of the services and offerings that are through that business?

Jessica Louie: So I focused on Petite Style Script at first. You know, my aunt had passed away earlier that year and she was really a big fan of shoes and handbags and women’s fashion. So I wanted to help other women, especially petite-sized women feel confident and empowered by their outfit and wardrobe choices. So it is a fashion and lifestyle blog, and although it has a lot of petite information, it also caters to other women. And I’ve turned it into really being intentional with your outfit choices by creating capsule wardrobes. So that’s one of my signature products and services. And then just highlighting really classic style where you’re investing in quality over quantity of pieces. So I talk about things that I own and things that I recommend and sizing and fit and then how to style things together to really have a classic wardrobe that will last for years to come. So there’s a lot of just how-to’s and resources on the website that are free for people to read or join the email list to get weekly style advice.

Tim Church: And so what you’re selling is actually the advice of style but not actual wardrobe or physical products, is that right?

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Jessica Louie: That’s correct. So I don’t physically make any of the products. I will earn income through affiliate commissions or sponsored content with companies that I really love. So I have a few companies that I’ve used, even from when I was young that I’ve been able to partner with and really showcase why those companies are great for the environment and really quality products to offer to my readers.

Tim Church: Can you go into a little bit more detail about affiliate marketing with this business and how you’re earning income? Because I think a lot of times, you know, the word “affiliate marketing” sometimes can have a negative connotation. But I actually think it can be a great way to point people to the right products and services and actually can provide a lot of value.

Jessica Louie: Yes. So affiliate marketing or affiliate commission is really popular in the fashion blogging world. I learned that early on, both from your website and from your social media. So basically, I am creating content and articles online. And I am talking about different products, I’m recommending how to style them together, talking about my sizing that I have purchased. And then I’ll link to my outfit or to other items that are similar to my outfit if those items are no longer in season or available online. And then if readers would like to purchase the same item that I’m wearing or a similar item that I’m wearing, they’re able to click on the link and I earn a small affiliate commission when they purchase the item through the website. So I work pretty closely with the Like to Know It and RewardStyle affiliate company and a few other companies to really showcase this is what I personally own and recommend and I’ve tried it out. And I’m not necessarily getting paid to try it out, that would be sponsored content, which is different than affiliate income. I have personally purchased the clothing I’m wearing, and then I’m going to link to it to earn a small commission from you reading the how to articles.

Tim Church: So I think that’s a great point that you put on there in that you’re not just promoting and pumping products and different attire that anybody could use or just something that you find that could earn income. These are actually things that you’re recommending to people either because you’ve tried it out or feel very confident about the product that they’re offering.

Jessica Louie: Yes. And I mean, personally, in my opinion, when I go and buy a product, you know, I like to read a review or see how it fits on someone, especially when it’s more difficult to find petite-friendly clothing. So it’s nice to be able to read someone else’s article and honest review besides just seeing a picture of it on Instagram or on Facebook. So that’s what I’m trying to provide in longer, 1,000- to 2,000-word blog posts, articles, on the website.

Tim Church: And so would you say for that business, is affiliate marketing, is that the main generator of revenue?

Jessica Louie: Yes. That is the main generator of revenue.

Tim Church: OK. And then you said there’s also some sponsored content. So can you talk a little bit about that?

Jessica Louie: Yes. So sponsored content is when a company will pay for certain content to be promoted, either on social media, especially Instagram, or on the blog website. And you know, those are contracts that we’ll make with certain companies that I really feel passionate about promoting. So it’s usually companies that I’ve worn or used for years. So those are companies like Figs scrubs healthcare professionals and Aveda hair care products and skin care products and different things like that. And they will be — if it is a sponsored post, it’s clearly marked, either in the social media caption or in the blog article as well to show that it was paid content, but it also, you know, I personally have used it and stand behind the company or the product.

Tim Church: That’s great. And I think it’s a cool way to earn revenue because you’re helping people get to products and services that they need and that they want. And you’re providing input from it.

Jessica Louie: The sponsored content also pays for the production costs of running the website and social media. So there’s a lot of effort put into having people find your content, so a lot of SEO optimization, so if you search for a product on Google, you know, it’s coming up on Google, Pinterest and YouTube so you can find the photos, the videos and the written words. So that’s really where the sponsored content is helping offset production costs.

Tim Church: Yeah, and that’s what I was going to ask you. Where do you find the majority of your customers — is that organic traffic through Google? Or is it through social media?

Jessica Louie: It definitely is through search engines. So Google is definitely the top one and then technically, Pinterest is a search engine and not a social media platform, so Pinterest is my second most common referral source. And then my third most common is YouTube. YouTube is also a search engine and is owned by Google. So those are my primary three. So I definitely put a lot of effort into the backend so people can find the content. And then social media is nice, but it’s really not — I feel like it’s more for exposure and for people to digest some content. But then they need to also take action to get to the website or to get to more information so that, you know, it’s great for exposure and creating a community with some of the readers and some of the other bloggers and business owners, but it’s a smaller proponent of a referral source.

Tim Church: I think this business is so cool because it’s just way outside the realm of pharmacy. And you know, I think that’s a lot the stories that I’ve heard with pharmacists and what they’re doing on the side that yes, there are some things that definitely have a pharmacy twist or relationship, but this one is sort of a little bit outside of that realm. And I think that’s really cool. So before we move on to your next business, so I have a question. Is there any intention for one for men that you’re going to create so that if I need some fashion tips that I can go to?

Jessica Louie: So currently, no, not another fashion-focused blog or website. But with my newest business, I do help people simplify their homes and wardrobes. So I don’t discriminate against men or women for clients for those coaching sessions. So I can do that more one-on-one or group coaching but not necessarily full, written articles geared towards men.

Tim Church: OK. So your newest business — and you told me before we jumped on for the recording that this one has really been a result of some of the other things that you’ve done. And I think this one is also really cool because, again, it’s outside of the pharmacy realm but something that you’re passionate about. So talk a little bit about that one.

Jessica Louie: Yes. So basically, this is my third business. The one in the middle is actually my pharmacy-focused business. But I wouldn’t have been able to get to this point in opening Clarify and Simplify online without my experiences with the other two businesses and learning about virtual content and other marketing things. But this business is, you know, to help other busy professionals gain clarity to their purpose, simplify and declutter their home and minds and align their work into their lives. So work into your life, not the other way around. So we can really avoid some of the overwhelm and burnout that people are feeling and lead with more confidence so that you really build and curate a life that you love. So it’s really talking about being more intentional and taking away some of the burnout that a lot of people, I think, are experiencing with the work environments we’re exposed to.

Tim Church: So this is kind of has multifaceted business in terms of what you’re trying to do to help people. So can you walk through the process if somebody says, “Jessica, I want you to help me be less stressed out. And I want you to help me do that and walk through this process, especially with decluttering things.” Can you just walk me through what that consult — what would this look like?

Jessica Louie: So a potential client would schedule a free consultation call, so we really get into what are they looking for, what are their goals, and you know, what kind of budget they have in terms of I’ll offer either one-on-one in-person coaching or one-on-one virtual coaching or virtual coaching because they’re not local to my area or I don’t travel to their area. So I’m based in Los Angeles. And we’ll go through that process and really overall, it’s really about clarifying your why. I was trained with Simon Sinek earlier in 2018, so I use a lot of his philosophies and putting that into actual practice. And then the simplifying part is really up to the client in terms of do they want to go through the simplifying process in their home? And if they do, I am a certified KonMari consultant, so we are using the KonMari method developed by Marie Kondo. It’s a Japanese method to really dig into decluttering the home in an intentional way so that you’ll never do it again in your life. And you’ll really change your habits and your mindsets around your home environment. And then we’ll be able to use those habits and mindsets to then apply to other areas of your life. So that’s where aligning your work into your life comes into play in terms of really addressing a lot of well-being and burnout prevention and then we’re able to address the habits and mindsets related to community, the people you surround yourself with and your finances and your healthcare. So that’s, you know, the full transformative process, and then if someone is specifically looking more to just do the simplifying the home and professional organizing, you know, we can do that. But I would encourage them to go through the whole process. And I provide either workbooks for them to do it on their own time versus me one-on-one coaching them.

Tim Church: So just to clarify, for the majority of the people that you’re assisting in coaching, you’re either going to their house or giving them a virtual consultation, and you’re literally helping them declutter their home. Is that right?

Jessica Louie: Yes, that’s correct. So a lot of it is in-person, in their home. And you know, it’s a different way of approaching professional organizing and decluttering because it’s really going to be a lifestyle change and really intentional. So then if people live outside of my service areas such as Los Angeles, Salt Lake City or Milwaukee, Wisconsin, then I’m doing more online, virtual coaching through that process. And I really focus on the home first because I think that once you address what’s closest to you, which is your home, then you’re more easily able to address other aspects of your life.

Tim Church: And how did you develop an interest in doing that?

Jessica Louie: That’s a good question. So I read Marie Kondo’s books back in 2015, and I applied the method to my own home. So she has some very popular books called, “The Life Changing Magic of Tidying Up” and “Spark Joy.” And you know, she goes through a category-by-category type process of organizing your home instead of a room-by-room or a little-by-little type of process. And then I was able to help my friends and family go through the process as well, and I learned about her official certification system and was officially certified this year. And there’s only about a handful of certified consultants in different areas through the United States. So about 100-120 certified consultants in the U.S. at the moment. So I really love the process, but I also think that it’s more than just the KonMari method, and that’s why I like to bring in Simon Sinek’s philosophy and then work-life alignment in my philosophy as well.

Tim Church: So what do you have to do to become certified?

Jessica Louie: So the certification process for the KonMari method, you know, starts with yourself. So you’re going through the process yourself, you’re making sure that you have completed the entire process. The process, you know, is very individualized, but it usually takes one month to six months for people to complete the five categories in their own home. And then you’re going to a training program, you’re working with individual clients as practice clients, basically, taking an examination and then getting officially certified.

Tim Church: So they don’t just hand them out to everybody, it sounds like.

Jessica Louie: No, not just anyone.

Tim Church: So I have to ask this question because I’m just thinking in the back on my head that I’ve seen many episodes of Hoarders, and you know, everyone has their own way and own system of organizing. And sometimes, there is no system. But have you had any cases, basically, where you’re like, wow, like you were just overwhelmed at what you had to do to help them in their situation?
Jessica Louie: So I haven’t experienced with my clients particularly with being diagnosed hoarders, per say, but I know everyone’s home environments are different, so that’s why it’s really important that they really trust me to invite me into their home. And you know, I think that my healthcare background really helps in coaching these clients. It is an emotional and difficult process of addressing each item in your home and each item that you own, especially when we go through the last category of sentimental items and photos and things like that. So I think that, you know, with my healthcare background, I am able to help them process, especially with my work with intensive care unit patients and their trauma that they’ve gone through. So it definitely is very personal to the client, and that’s why I really enjoy working one-on-one, in-person, if possible.

Tim Church: And what do you typically charge for someone to do one of these consultations? And is that a one-time consult? Or is that an ongoing process?

Jessica Louie: So the first consultation is free. So that’s a 15-30 minute call, maybe a video chat, depending on the person. And then it really is based on their own budget in terms of — you are going to invest in this once in your lifetime, in my opinion. I actually would prefer you never rehire me for the KonMari method portion of our coaching, at least, because no one rebounds after going to the KonMari method. You organize your home once and for all, and then you keep the habits and the mindsets have changed so that you don’t reaccumulate the clutter. So it really depends on the home size and how many people are in the home. So we work one-on-one, so if it’s a family, I work one-on-one with each person in the family or teach the parents to help the children. But I do work with children as young as 4 years old. And most sessions are about $500 per session and then usually, people invest in the packages to really commit themselves to transforming their life. So throughout the process, usually I’m able to help them then, you know, recoup a lot of that money they invested in the package with me because they’re able to resell items that no longer spark joy, and I’m able to help them work through the consignment, resale, donation, environmentally sustainable process of discarding the items. And then it takes usually one month, three months or six months for people to get through the process. And depending on the budget, then they’re able to also do work on their own, so doing a little bit of homework in between our session together. So let’s say we finish most of someone’s clothing category, but we haven’t finished their shoes. Then they’re able to go through their shoes in their own time, and then the next session, we get together and tackle books and papers. Those are the next two categories. So then for papers, you know, I really encourage a lot of digitizing of papers. So then they’re able to digitize things on their own time, not necessarily with me there. It kind of depends on the client, then, of how much time we’re one-on-one spending together. But usually, the entire process takes anywhere between 20-50 hours.

Tim Church: Wow. And what kind of feedback do you get from people after they complete the session and kind of go through the program?

Jessica Louie: Usually, people are so surprised in terms of how much we get done during the sessions and how much of a transformation it is because they maybe either worked with other professional organizers before or tried to purge and do spring cleaning every year before, and nothing ever stuck because, you know, their closets just reaccumulated things or their attics or garages. Here in Los Angeles, there’s very few people that actually park their cars in the garage. And I grew up in the Midwest, and you know, I always thought, you know, it’s unfortunate that you’re not actually using your garage space so that you’re protecting your cars and other items. And so basically, the transformation that they feel is pretty significant because a lot of these times, the clients have tried going through the process themselves. You know, purging, decluttering, going through the KonMari method after reading the books. But they don’t have an accountability partner. They don’t have emotional and physical support. So as their coach, you know, I’m facilitating that process to make sure they’re keeping accountable to working through all the categories and setting an end date to when we’re going to finish this because this is not a lifelong process. This is, you know, there’s an end goal in mind and a vision in mind so they can get to that step. So a lot of times, when people DIY this, you know, it might take them one, two or three years to finish the process. And we definitely decrease the time commitment that is required.

Tim Church: And you mentioned that, you know, obviously decluttering, getting organized, is a big part of the process. But it’s not the only thing that you’re doing and what you’re trying to help people accomplish.

Jessica Louie: Right. I think that it’s a big component of everything. But if someone really is not committed to the process or not ready for that process, that’s OK. We don’t want to ever force anyone to go through the process. So a lot of times, when I’m working with couples, one person is more committed than the other. And you know, the other person will just see the transformation in the client and maybe be willing to start their own transformation a few months later or a few years later. It’s really up to them. But I think it’s so important to be able to go through the other steps, like clarifying your why and aligning your work into your life, if you’re not ready to do the simplifying in your home environment.

Tim Church: I know that I feel amazing when my space is decluttered, clean, whether I’m at work or I’m at home, and my wife probably to the next level. Like she uses it as almost like a therapy session when she’s cleaning and doing things. So what would you say to somebody that says, they ask you, “Well Jessica, what kind of benefits and what’s going to happen in my life if I get my house in order? What can I expect? Or why should I do this other than just to get organized?”

Jessica Louie: So I mean, there’s been a lot of research in terms of how your space affects your well-being and how many people have anxiety related to their clutter, right? Because basically, anything that you’re seeing, anything that you’re consuming, you know, via social media or other environments is something that you have to process. And I call it “closing the files” in terms of you have to be able to close the files in some of those things. But basically, people are really gaining more time to focus on what matters most to them because technically, everything that you own needs to be taken care of. So that means either physically taken care of or cleaning things. So usually, you get more time to really focus and have more intention in your daily activities. You also free up your mind to live more in the moment and be present. And I really think it creates more calmness and peaceful environments. And it really changes your mindset about things versus experiences. So creating experiences and memories together instead of buying a lot of things and gifts and physical items, you know? Because when we’re older and we’re on our deathbed, no one ever says, “Oh, I wish I owned more things.” They always say, “I wish I had spent more time with this person,” or “I wish I would have done this.” And they have some regrets. So really focusing on let’s not have those regrets later in life. Let’s do those things now and live life to the fullest. And then one of the big things I really focus on is increasing confidence in your decision-making skills because throughout the process, you know, you don’t really necessarily — when you start, you don’t really necessarily know what really speaks to your heart, what sparks joy, but as you go through the process, you really build your confidence of I know I want to keep this, I know that I love this item. And then you’re able to apply that habit and that mindset to having confidence in your day-to-day life, interacting with people, taking control of your healthcare, taking control of your finances. So those are some of the things that help people during this transformative process.

Tim Church: Wow. I’m just so fascinated by this. And I love it. And I’m sitting here on the other end, and I think it’s funny that as you’re talking about this transformation and the decluttering, like I’m already feeling like relaxed, like as you’re talking and going through it. So I can only imagine that if you’re someone that is doing the full process, getting the full makeover, what the benefits come about from that. So I just think that is so cool. Now, can you talk a little bit about the income that you’re earning from this business and from your other businesses? And you know, without even getting into specifics, just generally speaking, you know, what kind of income are you bringing in from that?

Jessica Louie: So this business is a little bit newer. This was created in July of 2018, so right now, you know, I’m earning five figures. And the goal in the next 12 months is to be earning in the six-figure range and growing the business both locally in my local area, southern California, and also online with some virtual sessions to really reach — I think that the online environment is great because it really reaches beyond your local network or the classroom and things like that. So those are my goals moving forward.

Tim Church: And how do you allocate the additional money that you’re bringing in from the businesses? Where is it going?

Jessica Louie: So it really is going basically to savings. So I paid off all of my student debt a little bit less than three years out of school, so I paid that off back in early 2016, and I was able to make some investments so my family was closer and living closer to me. And now, it’s really just saving for the future and for possible investment in the future in terms of more traveling — I didn’t really travel very much during my training process. So there’s been a lot more travel recently and more plans to go to Tokyo, where the KonMari method was founded, and other travel experiences. So really creating more memories and time together with people that I really love.

Tim Church: That is so cool. I really like that. I mean, congratulations, by the way, on paying off your student loans. I think that is awesome as well. And actually, just a side note on that, do you think that not having student loans, which a lot of people are struggling with even for 10-15 years post-graduation and even longer, that not having that on your plate has allowed you to take more risks as an entrepreneur but just to explore more and be willing to invest more in these businesses?

Jessica Louie: I think it definitely has helped in terms of I had a little bit over $50,000 in loans to pay off. And I was very intentional with that during residency and then right outside of residency. And I was also very fortunate with not accumulating $100,000 or $200,000 or $300,000 worth of loans. I think that the environment now with student loans has changed a lot in terms of it’s really easy to get the money, but it’s really difficult to know how much the interest is compounding and all that stuff.

Tim Church: Right.

Jessica Louie: So overall, it’s definitely helped me invest more into my businesses because I have those funds, I don’t go into debt at all with investing in my business. And I’ve been able to invest in business coaches to help me along the way as well. So it definitely helps in terms of you need to make the investment so it’s not just a hobby. It is a small business, and you’re really leading it as a small business then.

Tim Church: Now, I think a lot of people are listening to all of these businesses and things that you’re doing while you’re a professor and working as a critical care pharmacist. How the heck do you manage all of this?

Jessica Louie: Honestly, Tim, it was difficult in the beginning. But I was also — also think about, I was a year out of residency. And during residency, I was at a great program, but I was also spending 80-100 hours a week in the hospital. And that was because I was really involved in research processes and other things. So I was spending extra time that wasn’t required of me to be there. So I was already in the mindset of, you know, I don’t have to work 40-hour weeks. I can work 80-hour weeks and things like that. So that really helped me in the beginning of my first business to, you know, really dive deep into the learning process of the technology and the back-end things. So you know, I didn’t think I was working that much, you know, because that was kind of normal. And I was almost bored if I wasn’t doing something that was challenging me, right? And then I also have a partner who’s also in medical training and working quite often and paying down his medical student loans. So I think that if you have a partner that also stays busy and, you know, is working to achieve their visions, it really helps for your support system to know that you’re both working towards your end goals and your visions and growing your careers. But overall, since that time, I’ve definitely been a lot more intentional about how I run my businesses and have been able to automate things and just also learn what’s important. So for example, recently in 2018, I built up a pretty strong Instagram and social media following, but it wasn’t really a passion of mine anymore. And it wasn’t attracting my ideal clients, so I stopped posting on Instagram. And has that affected my business? You know, no. Like it’s nice to connect with people on social media, but sometimes, you have to take breaks and put boundaries about your time commitment to things that aren’t actually bringing in return on investment.

Tim Church: And how many hours now are you typically spending on your businesses?

Jessica Louie: I would say, you know, 25-35 hours a week. It really depends on how many clients are scheduled during that week because I’m seeing clients in-person locally, either at night, in the evenings after work, or on weekends. And so it depends on how many of those clients are scheduled and then I’m doing some of the technology in terms of posting. I like to batch things out. I highly recommend, if you do have an online business that you batch things out. So in 2018, I’ve been doing a little bit more videos. So I recorded all my videos for fall in two days in August. So I think that if you’re really intentional about how you, when you’re working on your business versus working in your business, how much time you commit to each of those and your strategy behind that.

Tim Church: So it sounds like it’s much more manageable now in terms of balancing your job as a pharmacist and what you’re trying to accomplish in your businesses.

Jessica Louie: Definitely. I think that at the beginning — and I think this happens with a lot of entrepreneurs, you know, you want to do all the things and you want to grow your Instagram, grow your LinkedIn, Twitter, Facebook, everything all at once. And then you kind of learn that, you know, that kind of sets you up for some burnout and exhaustion. And now I’ve learned, you know, that really focusing on what matters most, what will have some return and what also is enjoyable. So and then when you’re at a point when you can outsource things and automate things, I would recommend that so that you’re using your skill sets to their fullest potential when you get to that stage.

Tim Church: Jessica, you have shared some awesome points about entrepreneurship and what you’re doing in your business. What advice in general would you give to other pharmacists and even students out there who have an interest in becoming an entrepreneur? Maybe instead of or even in addition to their role as a pharmacist.

Jessica Louie: I would definitely recommend following a passion, you know, gaining clarity of what you really want, setting your ideal lifestyle of how you want to live your life day-to-day and then going after your dreams because I know a lot of people who will wait to say, “Oh, I’ll do that in x number of years,” but why don’t you just do it today in terms of setting up that dream and going for it? And you know, it might be overwhelming at first, but every baby step will lead to big transformations. And when you’re documenting the journey that you’ve been on, you’ll see how far you’ve come.

Tim Church: That is so good. And what books, any books you would recommend on entrepreneurship or running a business in general? I know one that you already mentioned, and it’s one of my favorites, which is “Start With Why” by Simon Sinek. Any other gems that you have found to be extremely helpful or inspiring?
Jessica Louie: I also really like Brendon Burchard’s “High Performance Habits.”

Tim Church: I’m listening to that right now, actually, in the car.

Jessica Louie: Very nice. And then of course, Marie Kondo’s books if you’re interested in the KonMari method. And if you’re interested in simplifying, Courtney Carver’s “Soulful Simplicity.” It actually has really nice, tangible advice. And “The Growth Mindset” books, I think it’s Angela Duckworth, I think those are some of my go-tos right now. And then I usually provide a list of resources as well when I work with clients if they want to look at more books outside of those.

Tim Church: That is awesome. Thank you so much, Jessica, for coming on the show, for sharing your insights about business but also some of your passions and what you’re doing. And I think it’s just incredible. And I think a lot of people are going to find value not only from what you’re doing but just the experiences that you’ve been through. So if somebody wants to reach out to you, either just to learn more about entrepreneurship or your journey or even to become a KonMari coach or consultant or do what you’re doing, what’s the best way to contact you?

Jessica Louie: The best way is to go to my website, ClarifySimplifyAlign.com, and reach out via there, the contact form, schedule a call or email, which is [email protected].

Tim Church: Great. Thank you again so much. And I look forward to reconnecting a few months down the road to hear what you’re doing and how you’re growing and expanding your business.

Jessica Louie: Thank you, Tim, for your time.

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YFP 085: How One Pharmacy Entrepreneur Is Solving the Drug Shortage Crisis


How One Pharmacy Entrepreneur is Solving the Drug Shortage Crisis

On this episode of the Your Financial Pharmacist podcast, Tim Ulbrich, YFP co-founder, interviews Dr. Patrick Yoder, co-founder and CEO of LogicStream Health. Tim asks Patrick about his journey as a pharmacy entrepreneur which led him to get his PharmD from the University of Iowa to starting as a clinical pharmacist at Lake Regional Health-System to serving as the Director then VP of Clinical Development and Informatics at Wolters Kluwer to being the Co-Founder and CEO of LogicStream Health since 2013.

About Today’s Guest

Patrick developed a passion for innovation reengineering bicycles to better suit the needs of childhood. He started his career in medical research, then as a Clinical Pharmacist and an Informatician. He developed experience leading innovative teams at Wolters Kluwer Health as the Vice President of Informatics and Clinical Development. There he spearheaded the creation of a solution that established the company as the recognized leader in the market within four years. He also led the informatics team at Hennepin County Medical Center before co-founding LogicStream Health. Patrick enjoys scuba diving, running and cycling in his time away from LogicStream Health.

About LogicStream Health

LogicStream Health is trusted by a community of high-performing healthcare providers across the United States. The company’s clinical process control and improvement software-as-a-service (SaaS) platform stands alone in its ability to help customers gain instant insights to improve vital clinical processes and patient care. As a result, customers reduce cost and improve outcomes. Also available is The Drug Shortage App from LogicStream Health™ that reduces risk to patients, controls medication spend and increases staff productivity as a result of the ongoing drug shortage epidemic. The LogicStream Health SaaS platform is ‘must-have’ technology enabling clinical teams to quickly improve clinical processes in near-real-time and is designed for rapid implementation and easy adoption by end-user clinicians, informaticists, data analysts and executive teams. LogicStream Health software today is supporting hundreds of hospitals on a scalable and sustainable technology platform to standardize processes and deliver highly reliable healthcare. For more information, please visit www.LogicStreamHealth.com.

Summary

On this episode, Tim Ulbrich dives into learning about Patrick Yoder’s entrepreneurial journey. When Patrick graduated from pharmacy school, there was a shortage of pharmacists. Patrick chose to become a clinical pharmacist which then led him into taking on more business roles in companies. He served as the Director and then Vice President of Clinical Development and Informatics at Wolters Kluwer.

In these roles, Patrick was motivated to use technology to change the way pharmacists work with electronic health records. He took risks to co-found LogicStream Health in 2013 and continued his business-oriented journey. He currently serves as the company’s CEO. In 2018, the Drug Shortage App from LogicStream Health had its debut. The Drug Shortage App from LogicStream Health aids to support pharmacists to increase their work flow while also increasing patient safety.

Patrick shares advice on starting an app, why serving in the community is important and also what should be done to expose more pharmacists to an entrepreneurial path in pharmacy school in this episode.

Mentioned on the Show

Episode Transcript

Tim Ulbrich: Patrick, welcome to the Your Financial Pharmacist podcast. Appreciate you coming on.

Patrick Yoder: It’s great to be here. Thanks for having me.

Tim Ulbrich: Yeah, I’ve been looking forward to this episode for some time as I shared a little bit before we hit record, learning some of your backstories as an entrepreneur, and I’m excited to get into that. And part of what I’m so excited about sharing with the YFP community is that they hear me talk often about the importance of entrepreneurship and lots of things going on in the pharmacy job market and things and to have a real, live example of somebody who has done this, came out with a pharmacy degree, had some clinical pharmacy experience and has now ventured into starting a company that obviously is growing. Look forward to hearing your story, picking your brain a little bit in terms of what makes you tick. So before we jump into the work that you’re doing with LogicStream, which is your company, and the recent launch that you had of the drug shortage app, which as I understand, actually debuted at the ASHP Midyear clinical meeting, I want to learn a little bit more about your journey into pharmacy school and the path that you took to get where you are today. So take us back to when you graduated from the University of Iowa. What were your career interests and goals at the time?

Patrick Yoder: Yeah, well, I mean, I think I graduated at a good time back in 2000s, early 2000s, there was a huge shortage of pharmacists. And I think while that was exciting and good, it was actually awful hard to figure out where to go. I think I had 10 different job offers. And I decided that I really wanted to do acute care stuff in hospitals, and so I really made that jump at that point and started to work on the clinical side. And then interestingly, EHRs came along quickly after that, which will tie into probably various different things as we go through our discussion today.

Tim Ulbrich: So you come out of pharmacy school, and as I understand it, you’re working in a clinical pharmacy specialist position. And then you took a jump into a director role and then a VP role at Walters Clure Health and then obviously that led up to the work that you’re now doing in starting LogicStream. So what was the catalyst for you making that transition from the clinical role to what you were doing at Walters Clure Health?

Patrick Yoder: Well, I think in general, there’s been a couple of jumps that I made. But I mean, that was the first one. And I remember that pretty specifically. I was working clinically in the ICU at a regional health center. And I even had this discussion with my parents, who you can imagine — and I was a few years into my career, and I said, “You know what, I think I’m going to jump to the corporate side of healthcare.” And they were kind of looked at me funny and said, “Why in the world did you go to pharmacy school if you wanted to be a business guy?” And I don’t know, I just, I think I’m kind of a calculated risk taker. And I think there was a real opportunity in that job, and I kind of felt like I could always keep my pharmacy skills up, although that’s actually a lot harder now than it used to be. But just really decided I wanted to take a look at that opportunity and really looked at it that way instead of a risk.

Tim Ulbrich: Did you — I’m curious — do you remember back in pharmacy school having some of those business interests? I mean, was that something that was always front of your mind? I mean, obviously you went into that clinical path right out but can you tie back now that you put yourself in a CEO role, can you tie it back to, yeah, you know, I really was mindset around the business component all along?

Patrick Yoder: Yeah. That actually really started with me as a kid. So my parents were entrepreneurs and started several businesses. And so the things that I was exposed to as a kid, talking about financial statements and employees and all that stuff around the dinner table. I later figured out, well, that’s just not normal. Most kids aren’t exposed to that kind of world. And so, a lot of the things that I actually thought were difficulties because I heard my parents like talking through some of this stuff, that really actually led me to a professional degree where some of the biggest things that I really had a desire to do more of after I had that professional degree. And I think there’s different ways to approach that. You certainly could do health system administration and pharmacy leadership and all of those angles as well. I just had this — for whatever reason, really liked to create things and ended up on a path that allowed me to do that.

Tim Ulbrich: So 2013 — I’m hitting fast track on your career just out of the sake of time here — but 2013, you founded LogicStream. Obviously, you currently serve as the CEO and co-founder of that. Tell us about the vision that you had for that company. Where did the idea come from? And obviously, with any business, you’re trying to solve a problem, right? So what business were you trying to solve in starting that company?

Patrick Yoder: Yeah, so I mean, just going back just a little bit, at Walters Clure, we were very much in the middle of the EHR adoption phase. So basically, everyone was buying Electronic Health Records, everyone was installing them and putting them in their health systems. And a lot of the products we built there, which I was on the kind of new product development team, and my group of folks did a lot of work in that area. And therefore, I spent a lot of time in the market, and so I was always thinking about, well, what’s next? What is going to be the next problem? And through that, really figured out that Electronic Health Record is actually just the beginning. All of the things that we were doing to put those in place were baseline. And we weren’t thinking at all about or not as much as we should have been thinking about how do we use this technology to actually change the way we work. And in fact, that’s really where LogicStream and the ideas originally came from is how do you not only have an EHR in place but really use it to help your clinicians do the right thing and do it more often that maybe they can remember on their own?

Tim Ulbrich: So obviously, that experience you had at Walters Clure gave you the foundation and sparked that idea, which then became LogicStream. And I think one of the questions I’m very interested in learning more about is your mindset around risk at the time. You obviously had a great job, and so you’re making this decision to start something new. And I think that is a factor that can prohibit and paralyze many pharmacists that may be thinking of an entrepreneurial idea. So what type of risk did you take on to leave a comfortable and successful career to start this company? And if you had fears at the time, how did you overcome any of those fears and overcome any of the self-limiting beliefs that you may have had about, you know, in reference to your parents earlier, that you’ve got a great career, and now all of a sudden, you’re going to jump out and do something on your own?

Patrick Yoder: Yeah, well, you think that conversation was challenging when I was a pharmacist going to the corporate world, you can imagine what it was like when I now have a family and a wife, and they look at me like, wait, you’re going to do what?

Tim Ulbrich: Yeah.

Patrick Yoder: What’s this story here? You know, but luckily, through my work at Clure, I had a lot of connections. And I really leveraged those to help soften that transition. So I actually went back to the care delivery side of the world for a short period of time to validate some of the ideas that I had about building a company or a product. And then also leveraged the relationships to do a lot of contracting and consulting work in the interim as well. And you know, I guess the real driver for me was that I could see that there was a better way and really wanted to play out that thought and test it and see if it was real. And that’s I think the balance. I mean, most entrepreneurs are generally risk-takers anyways. I think the smart thing to do is be pragmatic about that and understand the risk as much as you can. And certainly having a pharmacy degree is a really nice backstop, right? You can always jump back into that and have plenty of work to do.

Tim Ulbrich: Yeah, and I love what you said there. I mean, that resonates with me. And for many that are thinking of business ideas is that you’ve got a degree to fall back on. You know, many that are starting companies don’t, obviously. Many people can start, you know, a business while they’re obviously working or at least kind of begin to get that process going. And I really liked what you said about the validation process, right? So you had an idea and you went in and worked to validate some of that before you jumped in, obviously, to the beginnings of that company. So the drug shortage app — and we talked a little bit about this before we hit record — is obviously a big area that you’re working on now. Drug shortage app from LogicStream Health made its debut, as I understand it, at the 2018 ASHP Midyear Clinical Meeting in Anaheim, and I wish I would have known that before the meeting. I was actually there, so I wish I would have known that. I could have stopped by the booth and say hello. But tell us a little bit about that app and why this solution is so important to our profession and to healthcare?

Patrick Yoder: Yeah, well, I think for me personally, it’s really exciting because you know, we started this company and have a large number of hospital customers across the country. And we typically work in with nurses and physicians a lot on improving their processes. And so it’s really exciting for me to actually be able to launch more so into the pharmacy space in a very specific way. And the way we actually ended up here is we listened to our customers and what the pharmacists that were using our software tools, even before we launched the app, were saying about their biggest problems. And I think it really became apparent to us as a group that, you know, drug shortages are a huge problem. They basically disrupt the primary workflow of the pharmacist, so you can’t actually take an order or a prescription and create a safely administered drug. And that’s a huge problem, and it was basically sucking up a lot of their time trying to figure out how to use alternatives or really buy directly from manufacturers or whatever the case may be. And then it also has a huge safety component, which drug shortages and using different formulations and different drugs that aren’t common to a health system can actually lead to adverse drug events for patients, which is kind of near and dear to any healthcare person’s heart. So we’re really excited about the opportunity to help pharmacists in a very meaningful way.

Tim Ulbrich: So when you launched that at the Midyear meeting, I mean, was that a moment of celebration and culmination of hard work? Or are things just so busy and moving so quickly that you’re kind of always onto the next project or even to see obviously that through for the time being?

Patrick Yoder: Oh no, that’s absolutely the way it works. I mean, the team here puts in a tremendous amount of energy when we’re launching a new product. And you know, months ahead of time, you’re doing plenty of work and designing how all the screens work and how it actually gathers the data necessary to make it run, and so we had even prior to that, spent many, many hours with pharmacists on the phone, understanding the pain points of the whole problem. And so absolutely, it was definitely an event and something that the entire company wanted to hear more about, even during the show as it was going on, how well it was really fitting with the needs of pharmacists.

Tim Ulbrich: One of the common questions I get from people on different ideas is they always say, “I’d like to start an app to do this or that,” and you know, then the next follow-up question is, “What exactly goes into developing an app?” And not that we’re going to get in on that in this show, and obviously, we’re pharmacists, right? We’re not developers. But I think my question to you is what advice would you have for somebody in terms of where do you start? I mean, is this something that you have to go out and raise a bunch of money and capital to get some backing to do? Or where does somebody start with an idea of an app for whatever problem that they’re trying to solve?

Patrick Yoder: I would highly recommend not going out and getting a bunch of capital to start with. That’s not what we did. And in fact, most of the thing that you need to do first is actually just start. And that sounds kind of strange, but it is really the way it works because as soon as you start, you put yourself on a path to learn a whole lot more about the problem than you understand today. And in fact, that is actually where all of your intellectual property comes from that then you can use to raise capital in much better scenarios than Day 1. So just start, and be ready for some sleepless nights and maybe a lot of them. And you’ll learn very quickly if it’s a good fit or not. And don’t be scared of the fact that it’s not because there actually will likely be a whole bunch of things around it that are a really good fit in the marketplace, and then you’ll have to choose which one you want to pursue, which is actually a good problem to have but also a very difficult decision.

Tim Ulbrich: I love what you said there. I actually just posted recently on our Facebook group, one of my favorite books that I like to reference a lot is actually called “Start” by Jon Eckhoff. I don’t know if you’ve read it before, but it was really instrumental for me when I was starting Your Financial Pharmacist back in 2015 that when you have I think a new idea, and obviously what we’ve been working on isn’t the scale of what you’re doing over at LogicStream, but there’s so many fears and limiting beliefs that come into play. And well, I don’t know how to do x or what about setting up the structure of the organization? Or where’s the money going to come from? Or what about the website? What about the accounting? The legal? All of these things. And I think the thing I look back at that allowed us to get going was just taking the first step, right? Just starting. And you know, as I look back, it wasn’t pretty. It wasn’t how I would do it today, but every one of those steps leads to another learning moment. And you don’t know what you’re fully stepping into until you actually embrace that step. And I’m guessing you felt a little bit of that back in 2013 and even as you entered into the app development and new products or services, you know, I’m sure there’s some of that as well. So I think there’s great wisdom in there that I hope our listeners heard in what you just said there. One of the things, Patrick, that stood out to me as I was looking at LogicStream’s website is I think front and center on your homepage or maybe just scrolling down a little bit on your homepage, I noticed that your company has been active even already in the New Year with volunteering with the food group in New Hope, Minnesota. And we talk a lot about here the importance of philanthropic efforts as a part of a financial plan and how that really provides perspective. And to me, as I saw this, this really was an indicator of the value that you see as your company and the role it plays in philanthropic activities and in the community and in serving in the community. So why do you feel as the CEO that it’s important for your company and your employees to be a part of serving and giving in the community?

Patrick Yoder: Yeah, well, it’s a huge piece and sort of team-building perspective, it helps — you know, having your team do something together that they kind of cross different areas of the company and they maybe don’t work together every day actually really helps build relationships and a real team. But you know, I think at the core, entrepreneurs and CEOs — and this may sound a little different than what you typically hear — so while our jobs are to create things and make money, we actually see that as actually a service to the world around us. So and it’s funny, one of my mentors taught me this. You know, if you think about something like LogicStream and we have 35 or so employees right now, those jobs didn’t exist without actually building the company and keeping to push it forward. And so even just those jobs and the value and the pay that we put into those people’s lives are in service, in some ways. And so we kind of just carry that out, I think, as a company across the board. And it is important for sure. And as we get larger, it becomes I think even more important and really a critical piece of how a company actually makes an even bigger impact in the world around them.

Tim Ulbrich: So along the lines, one of the things that sticks out to me that I alluded to a little bit earlier is I feel like pharmacists often by nature are fairly risk-averse. And I think part of that is maybe driven by personality but also in part because of, you know, you may graduate at 24-25 years old, and you’ve got a six-figure salary that’s facing you, and it may be hard to say no to that if you have $150,000 or $200,000 of student loan debt and other variables that are in there as well. But I think we as a profession are at a point where we need to create and innovate and stimulate and make some of these opportunities and reinvent how we have thought about practice and thought of different things. So I’m curious from your standpoint of somebody who graduated with a PharmD and now somebody being a CEO and an entrepreneur, what can we be doing or what should we be doing in pharmacy education to help provide some of these principles, whether it’s entrepreneurship or maybe even more intrepreneurship of those that aren’t going to go start their own company but need to be thinking in an entrepreneurial way inside of the organizations in which they operate?

Patrick Yoder: That’s an interesting question. And I think maybe I’ll answer it this way. So I’ll go back to my training when I was at the University of Iowa. You know, I don’t think we were very exposed to pharmacists that took unique paths. So we certainly were exposed to pharmacists that build their clinical practice in ambulatory care or some specialty pharmacy area, but never — I mean, I don’t remember ever being exposed to a pharmacist that is a technologist and started a technology company or some device. I mean, there’s probably endless examples of this. And that’s probably the first step, just opening up that a little bit so students can see, well, gees, there actually is a huge opportunity out here. And in fact, I think going back to your risk question, the whole fact that you have a professional degree — and I kind of get the loan stuff that goes with it, I’m still paying for mine, by the way.

Tim Ulbrich: Yeah.

Patrick Yoder: It’s an opportunity. I mean, I really see it as an opportunity because you have that backstop that other people don’t have because of that degree and the time that you put in building that clinical knowledge. And in fact, I think in some ways, it makes you more effective in actually finding good solutions to the potential problems too. So it’s an opportunity, I think.

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Tim Ulbrich: Yeah, I agree. I think exposure in the PharmD curricula is huge. I hope your alma mater is taking advantage of you. But even just planting the seeds, right? I mean, I think that if they can hear from somebody — and it may not be an area they’re necessarily interested in, but just to know that, you know, there’s different opportunities that are out there. I typically see there’s a mindset of I either can go into community-based pharmacy practice, or I can go into residency training. You know, that’s kind of the two trains of thought. And that may be where somebody starts or maybe not, but just to even begin to plant the seeds of there are different opportunities in which your degree can open doors and to get people thinking about those. So one of my questions for you is obviously, as somebody who is I’m assuming extremely busy and you’re trying to balance family and prioritizing that as well and making sure you’re serving your employees and the company and the vision you have, what do you do for fun? I mean, how do you keep yourself from burning out? What are your strategies?
Patrick Yoder: That’s a great question. You know, I actually think that — and I am pretty busy. I spend an awful lot of time working on the company and, to some extent, in the company as well. And I think about burnout more about as a mindshare problem, and so if you can’t ever get away from, you know, applying your thoughts and mental energy towards the business, that’s actually I think what burns you out. So if you do that non-stop forever, you’re not going to — you’re going to burnout. Whereas if you just can create some time — and it doesn’t even have to be in big chunks — but some time throughout the week where you’re not spending your mental energy on that, that really helps keep you balanced. And then I think the other thing you always have to really be very cognizant of is your family, right? So just because I’m an entrepreneur doesn’t mean that my wife is, doesn’t mean that my kids will be, so you have to understand probably the level of commitment and energy that you’re actually putting into the business and take time away to just spend with them. And it actually doesn’t have to be as complicated as it sounds. Sometimes it’s a conversation over a coffee.

Tim Ulbrich: Yeah, absolutely. Good stuff. I want to finish out with an idea that I’m trying for the first time, I’m stealing actually from Tim Ferriss, author of “The Four-Hour Work Week,” widely known for his podcast. I started reading his book called “The Triumph of Mentors,” which we’ll link to in the show notes. And in there, he essentially interviews a lot of people with some questions to really pry into their brain and how do they operate and what do they think and how might people who are interested in some of these ideas begin to think about further developing themselves. And I think what I love about these questions is that it’s going to give myself, selfishly, and our listeners some insight into how successful entrepreneurs and people doing things like you’re doing are thinking and the behaviors and habits that contribute to success. So I’m going to rapid-fire a few questions, and then we’ll wrap up with some more information about where people can learn about what you’re doing. So let’s start, Patrick, with if you’re a reader? I’m assuming you are. It seems like most entrepreneurs are. But what are one, two or three books that you feel like have really greatly influenced your life and the way in which you think?

Patrick Yoder: Oh yeah, there’s a long list, so I’ll pick out what I think are probably some of the most pivotal ones. And I actually read books that are, I don’t know, I find a lot of value in their contextual. So starting the company, one of the big ones that I absolutely loved was “The Innovator’s Prescription,” Clayton Christensen’s book. He actually wrote a whole series of them. I’ve actually read all of them, but that book is just — it helped me kind of frame up how to really think about the dilemmas of innovation inside a big company and then what it means for an entrepreneur. I really like a lot of Daniel Pink’s stuff, you know, “Drive,” “To Sell is Human,” all of those typical things that you run into pretty quickly in a company. It’s like basically how do you get people to buy the stuff that you’ve built that’s really cool, right? And then my favorite book, which is actually almost like a textbook — so mine’s all marked up and I have little tabs on the pages — is Ben Horowitz’s book, “The Hard Thing About Hard Things.” And it’s —

Tim Ulbrich: Ah, I’ve never heard of it. Tell me more.

Patrick Yoder: It’s a fantastic book. I mean, it’s basically — so Ben Horowitz is a venture capitalist who’s also started companies and actually built them into kind of dot com era. It’s a terrific story, but it has — it’s just loads of great information about how he dealt with the difficulties of running an early-stage company and building it and venture funding and all that stuff. And I go back to it a lot and basically read his story because it’s very contextual and real. I mean, you can tell that he was living it. So it’s really a fantastic, fantastic book.

Tim Ulbrich: Great recommendation. We’ll link to those in the show notes. And I’ll be ordering those from the library soon. So thank you for the recommendations. So let’s talk about for a moment failure. Can you point back to a moment as you were starting up LogicStream or even maybe more recently with the app of something that you would say is a moment of a favorite failure? Something that you look back and say that in the moment, it may have been painful, but it’s really set me up for success in the future.

Patrick Yoder: Oh man, there’s probably some yesterday. I think that one of the key things that you’ll probably learn from talking to people like me, I would imagine, is the thought of failure is actually pretty different. So — and I tell my kids this all the time, and the first time I told them, they kind of looked at me weird and I bet their teachers probably hate me. But if you don’t fail, you actually can’t learn.

Tim Ulbrich: Absolutely.

Patrick Yoder: And so if you look at failure that way, you actually just try to do it faster, as fast as you can because in a company like ours, the faster you can learn, and the faster you can adjust to those learnings is your competitive edge. You know, you’re not going to win against Amazon by raising more money. You’re just not going to win that way. And so if you have that context about failure, it just totally changes the way you actually think about them. And I’m guessing in some ways, it actually changes your risk aversion towards them as well, towards failures.

Tim Ulbrich: I love that. I read recently something from Seth Godin. I’m drawing a blank on what it was, if it was a blog or one of his books, where he talked about exactly what you said and really trying to not avoid failure but where it’s happening, accelerate the process and minimize the damage.

Patrick Yoder: That’s probably true.

Tim Ulbrich: Yeah. But that it’s so essential, and I think to your point about it changes the risk aversion that I think can happen along the process way. Along the way. So what advice would you have, you know, lots of smart, driven pharmacy students that are listening, about how to enter the “real world.” What are some words of wisdom that you would have for them as they’re entering somewhat of a chaotic time in our profession and in healthcare at large?

Patrick Yoder: Yeah, I mean, I think that it’s — so I would actually recommend against just jumping straight to building companies. I think there is some significant learning that can happen very, very fast when you actually go out there and do the real work of pharmacists and learn how health systems are actually operating today. And then bring that to the table as part of your thought process. And then find people who have done this. I think that probably the interesting thing that most people may not know is that people like me, so I actually have a coach. I have a CEO mentor that has done this multiple times over, and I ask him questions all the time about how did you do this? What did you do about that? And it’s so helpful to have those kind of people around you. Even in my team, our CFO has done this multiple times over. Those kind of resources are just incredible to have because they really help you up your wisdom game, which you only get from experience. And so you know, kind of lean into those people that likely are smarter than you. But just be aware that they’re really trying to help you, and that’s a key part of it for sure.

Tim Ulbrich: Yeah, and I love — just to piggyback on that — investing in the areas of your life a coach and a mentor that are most important to you. And I love that as a word of wisdom. So Patrick, my understanding, you actually host a podcast as well, LogicStream, to conduct interviews with healthcare leaders discussing trends and issues that affect healthcare leadership and clinicians, innovations in healthcare, IT and more. So beyond that podcast, which certainly our listeners can find and we’ll reference in the show notes, where can our listeners go to learn more about you and more about LogicStream?

Patrick Yoder: Yeah, I mean, the best place to go is our website, so LogicStreamHealth.com. There’s an awful lot of content out there, not only from me but from other people in our company as well as some of our customers. So certainly head out there and take a look, and if you have any questions for me, I’m always open to discussing interesting and exciting ideas with folks.

Tim Ulbrich: Awesome. So as we wrap up this week’s episode of the Your Financial Pharmacist podcast, I want to give a special thanks to Patrick and their team at LogicStream that helped us get ready for this interview. Obviously, incredibly busy and for him to give us his time, I know is something that has left an impact on me. And I’m excited to be able to share this with the community. We’ll link to all of the things that we talked about in the show notes. And as always, we appreciate you as the YFP community joining us for this week’s episode of the podcast. And as always, if you liked what you heard, please leave us a review in iTunes or wherever you get your podcast each and every week. Have a great rest of your week.

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