For me, the process of creating a company was slow and organic. If I had a problem, I worked to solve it. If I had an idea, I worked to make it happen. If I needed help, I went and found it. Each step of the way offered a new challenge and a new learning opportunity. I loved it. It gave me a deep sense of satisfaction.
After hiring my first employee (an assistant), I was able to step back and think strategically about the additional skills, experience and resources I needed to take the company to the next level. This led me to realize that I needed a business partner, which was a scary proposition. I set out to find someone who valued autonomy, connection, mastery, integrity and health (myMTMCare’s core values). I was also looking for someone who, like me, was excited about building a scalable business and providing meaningful jobs for pharmacists.
I was extremely lucky. I found that partner right away. Nicole Schrankel was a pharmacist who I knew through personal connections. Like me, her demanding pharmacy job had led her to burn out, and when I met her she was working part-time while trying to find another career path. We were both seeking meaningful careers. And, we weren’t afraid to forge our own path to get there.
As soon as I asked Nicole to become an owner in myMTMCare, she was “all in.” We shared the cost of our first office space and together hired our first few employees. Our employees were very patient as they helped us tweak our business model — a model that was based on having qualified remote pharmacist consultants located in many states.
We relied on the expertise of many others to get systems in place that would allow us to scale our business as needed. Hood River is known as one of the best cities in Oregon to start a business — partially because it’s a city full of well-connected entrepreneurs. It was not long before we had a team of website designers, graphic designers, bookkeepers, lawyers, business consultants and PR experts.
After a full year in business, we had grown to include 13 employees, of which eight were consultant pharmacists, and were already looking for a bigger office space that would allow us to grow.
It turned out that starting a company was much easier than we thought it would be. Continuing to grow the company would be a different story.
The Top 5 Things We Got Right
1. Hired employees to handle the non-clinical administrative work.
2. Set aside time to work on our business model and financial goals.
3. Hired professionals to guide us through this process.
4. Gave our employees the autonomy that they desired.
5. Nicole and I communicate regularly to help ensure our business is aligned with our values and mission.
1. Read the final blog in this series, "COPING WITH GROWING PAINS".
2. Join my "MTM PHARMACIST ENTREPRENEURS LINKEDIN GROUP" to connect with me and other MTM entrepreneurs and find answers to common questions.
3. And, consider watching the first of our new webinar series, “STARTING AN MTM BUSINESS: IS IT RIGHT FOR ME?” available now. You’ll learn what it takes to launch your own MTM business or become an affiliate for myMTMCare. Questions? Email the webinar administrator Noelle Newton at NOELLE@MYMTMCARE.COM. Thanks!
Jul 22, 2015