Do you know most community pharmacy owners unintentionally put a cap on the growth of their Pharmacy?

Let me show you how.

The average pharmacy owner believes the only way they can grow their business is by selling more to their immediate community and opening more stores.

This worked for decades, and lots of Pharmacy owners used this to expand their frontiers, serve more people and make some wealth for themselves.

However, I will attempt to show you something better, using the terms Local and Global maxima as an analogy.

An average pharmacy in a good location with astute owners would probably start with average revenue of 100,000Naira a day.

With great staff, amazing customer service, optimal drug availability, this pharmacy can grow to 500,000 daily revenues.

Then the pharmacy owners realize that growth/sales stalls after a certain point.

This might mean the pharmacy has reached the Maxima. The Local maxima.

In English, A local maximum is the largest value of the function(rev), respectively, within a given range (range is your immediate community).
A global maximum is the largest value of the function, respectively, on the entire domain (the entire domain is the pharmacy val chain)

The biggest remarkable difference between Local and Global maxima is that there is a high value attached to the Local maxima, whereas the Global maxima are *potentially* infinite.

To increase the business, The business will need to invest in opening another store and the cycle continues.

However, by opening new stores, the business incurs fresh startup costs, same startup risks, to get to the maxima.

Those are just hitting a series of local maxima

You will need to invest in Global maxima games. Games with *potentially* unbounded revenue.

How do we start the journey to global maxima?
Ask these questions. How can my store at Ikeja serve Enugu, Africa?

What can you provide for a patient in Accra, that they will pay you for?

A few friends and I made millions of Naira selling COVID-19 kits, without seeing a single face shield.

All we had was a website, phone, and dispatch riders.

To play the global maxima games, start thinking about tools, skills, and techniques that will allow you to serve Africa

I listed a few here in my blog. https://www.jsbabasanmi.com/move-your-pharmacy-from-local-maxima-to-global-maxima/