2011 Grads: Age of Entrepreneurship?

[themorphinerule]

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So retail is dried up, except for those rural jobs even a $200M signing bonus could never attract anyone to.

--- Hospitals want you to have a PharmD and residency to clean the sacred hospital toilets.

To be a clinical pharmacist you need 3 or 4 residencies, a couple fellowships, 10 yrs of experience (useless solo PharmD optional)

---- Seems the newly required PharmD as a solo credential is useless.

Anyone else out there thinking about forging their own path?
Working part-time to make ends meet (ya know-- make enough for gut money, loan shark debt, rent, gas, etc)

I'm very interested in forging my own path and actually using that business plan I created my P3 year in Mgmt class... nothing that would create a conflict with my employer, but there are cognitive services I believe are highly marketable to MD's. I just read a commentary by an MD that condoned multidisciplinary collaborations and it focused on how the patient benefits from these collabo's. I'm thinking a cognitive business, with minor dispensing components later on.

Class of 2011: who's with me?! LOL Let's let the powers that be know that the PharmD as a solo degree is worth more than just a position in retail. 🙂

 

[minette]

So retail is dried up, except for those rural jobs even a $200M signing bonus could never attract anyone to.

--- Hospitals want you to have a PharmD and residency to clean the sacred hospital toilets.

To be a clinical pharmacist you need 3 or 4 residencies, a couple fellowships, 10 yrs of experience (useless solo PharmD optional)

---- Seems the newly required PharmD as a solo credential is useless.

Anyone else out there thinking about forging their own path?
Working part-time to make ends meet (ya know-- make enough for gut money, loan shark debt, rent, gas, etc)

I'm very interested in forging my own path and actually using that business plan I created my P3 year in Mgmt class... nothing that would create a conflict with my employer, but there are cognitive services I believe are highly marketable to MD's. I just read a commentary by an MD that condoned multidisciplinary collaborations and it focused on how the patient benefits from these collabo's. I'm thinking a cognitive business, with minor dispensing components later on.

Class of 2011: who's with me?! LOL Let's let the powers that be know that the PharmD as a solo degree is worth more than just a position in retail. 🙂

I have always been interested in entrepreneurship...what do u have in mind? what services are u talking about?

 

[phathead]

If you're really interested in that, look into MBA programs to explore it more.

I also know of a few pharmacists who are doing MTM services on a sort of independent commission system. You can go into indy pharmacies who maybe do not have the time or patient to deal with MTMs and offer to do them for you.

They seem to be doing fairly well.

 

[aussiepharmer]

Just don't do pharmacy, PERIOD

Think K.I.S.S. = Keep It Simple Stupid

 

[quartel]

Well said, OP. It is the age of entrepreneurship.


My plan is to open a pharmacy or if that isn't feasible something like a LensCrafters or a post office

 

[Passion4Sci]

Still going to open my pastry shop. Doctor Dessert. Hell to the yes.

I'll have a great story for Top Chef, too.

 

[psychoandy]

I don't think that most students are cut out to think about entrepreneurship and the $$$. Not really a dig on rx students per se, but more along the lines of, most people don't have any idea of how to innovate, or don't want to take risk. Especially people who are 100k in the hole and have been raised to get 4.0s, not actually work and develop creative solutions to solve problems. Ideally after a couple years, I would like to go off on my own, but I need experience and ideas first...

Specifically in pharmacy though, there aren't that many good gigs out there that aren't already being exploited. Thinking about how to get paid first and foremost, here is everything i've thought of:
-open or buy a traditional independent pharmacy...but then you're competing with the chains and it's not that easy.
-as a subgroup of the above, compounding or bulk IV admixture/repacking...but I think CAPS and other companies of their ilk have already capitalized on that field
-consulting...but that's more management/workflow, and i would assume you need actual experience, as opposed to white collar business "consulting" where all you need is an ivy league degree.
-MTM services is probably the biggest, and everyone is still trying to get their foot in the door. When I was at big corporate chain, the DM was pushing personalized med rec for eligible part D people, because that would be an easy 50 bucks/person reimbursement.
-unique software or drug info website idea. latexdrugs comes to mind as a very hospital pharmacy-specific question that a couple RPhs figured they could answer and make $$$ at the same time.

so far, my best idea is a combination pharmacy/liquor store/pawn shop. why? old people need rx drugs, booze, and love buying/selling antique crap. obviously i'm from florida, i don't think this would work anywhere else.

 

[quartel]

any of you read 'rich dad poor dad' ?

well the crux of the message is to work a day job but to invest in something that generates money - an asset. It doesn't have to be a pharmacy or a pastry shop. It can simply be renting out a house to undergrad students that need a place to live to get your cash flow on.

In an uncertain economy like this it'd be best not to rely on your pharmacy salary as your only source of income. When I say uncertain I really mean it. There's also the danger that new tsunami of grads will oversupply the job market and reduce your wages. Best to think about tomorrow today.

 

[Passion4Sci]

Pastry shop sounds great.

 

[rxlea]

I second the pastry shop. I just ate a slice of the most divine red velvet cake. People need pastries.

 

[Passion4Sci]

I second the pastry shop. I just ate a slice of the most divine red velvet cake. People need pastries.

I make some mad crazy red velvet cake/cupcakes.

Did it have the cream cheese buttercream frosting like it should?