It is that time, when I do another year end wrap up blog, after another amazing, interesting, challenging and perhaps pivoting year. This will one of those years that will be forever highlighted as significant shifting moment for the pharmacy industry, with several major critical issues thrust upon everyone unwillingly through the impact of 60 DD, post 60 DD, expanding scope of service and many, many other issues.
We understand the tough times the pharmacy industry has faced and will continue to face over the next 1 to 2 years. BIG issues confronted you which will have major impacts on your ongoing pharmacy viability. As 100% of our client base are pharmacies and pharmacists, we emotionally felt this decision too. We've felt somewhat powerless, wanting to assist but dealing with factors beyond our control. Yet, staying true to Peak Strategies, we focused on what we could do. We delved into learning, gathered information, and crafted content to help pharmacies navigate the 60 Days as business owners.
Me personally this year, this has been a big one. I've been on the move, accumulating plenty of frequent flyer points, and spending a lot of time in airports, taxis, Ubers and fancy hotels. I had the privilege of being a speaker for Westpac, then Symbion and Viatris, on a national scale, not to mention participating as a speaker at the Pharmacy Forum. I am very grateful for the opportunity to speak to pharmacists from all over Australia. What I noticed though was consistent questions revolving around 60 DD, the impact on valuations and strategies to navigate this new landscape. What intrigued me the most though was the broad spectrum of responses from pharmacy owners. From very pessimistic to one of being in control and looking for opportunities to grow and innovate. Some pharmacy owners are amazing. The main themes that I noted that owners should be focusing on are finding new revenue streams, owner belief in the value they are providing, and focusing on the lifetime value of a patient.
Now, let's turn inward for a moment and reflect on the year within the Peak Family. The Perth office welcomed back Marcus and Patty back into the office, which brought with it so much laughter and fun. The team know I love it when the family are together. Despite them being a regular presence over Teams, having them in the office with us brought a renewed vibrancy to the workplace. Patty's enthusiasm for Vic's singing (we wish she wasn’t encouraged though) and Marcus's good-natured tolerance of Vic kept the office in stitches. Side note, they both have fully embraced the manager role and we’re so proud! They are immensely talented people, and I am very excited for their growth. I can see their potential and what they are capable of.
In our marketing department, Sarah, our manager, returned from maternity leave, and we also welcomed a new marketing assistant, Rebecca, affectionately known as Becaroo, Beccy with the good hair, and Beccy Hobbles McGee! Sarah, juggling motherhood with her little man Harry (Hazza to the office), had a stellar year onboarding some pipedream clients and presenting at the pharmacy forum. The results we have had from our marketing reach has been amazing. Sarah is an incredible talent. Becaroo shone with her creative direction for Women in Pharmacy WA, leading on socials and doing an outstanding job. Becaroo has a great future ahead of her! I am very grateful for the talent these two ladies have and the impact they have not only on Peak but also our clients.
Our leaders, Priya and Victoria also had a remarkable year. Vic seamlessly transitioned into her role as Practice Manager, establishing robust systems for our business and delighting the team with her almost weekly baking. Pri embraced her director role, standing out as our business development superstar, always commanding a room with her knowledge, approachability, and warmth. And yes, she, too, kept us well-fed with treats. Both wonderful ladies bring so much to Peak. Again, incredible talents and amazing futures ahead of them. I am immensely proud of them and grateful for what they bring to the extended Peak family.
Our Philippines team—Arnie, Yhan, and Don—remained invaluable assets. In our daily huddles, they were always the first ready to share, learn, and grow. Yhan's bright smile, Don's impressive T-shirt collection, and Arnie's funky hair made them stand out. Arnie's visit to our Perth head office was a highlight, marking not only his first trip to Australia but also his first venture overseas. His time at the office was memorable, and his newfound crush on Nando’s persists to this day.
Lastly, our incredible administrator, Maddie, has truly come into her own this year, efficiently keeping our entire team in line with their timesheets. Her growth and evolution continue to impress us every day.
To my team, you lot are simply the best. Yeah, we made mistakes this year, but these mistakes gave us the opportunity to learn, grow and evolve. We become grateful for our failures as they make us better people. As everyone out there reading this will know, we do what we do for a return on our investment and efforts. The $ is only a small part of it. For me, the greatest return is being amongst this wonderful group of people. We have laughed together, we have cried together, we have supported each other at our low points, we have produced amazing ideas together, we trust each other, and most importantly sung together (like a screaming banshee mind you). I continue to be inspired by you all, and I know you are all capable of amazing things. Seeing your growth over the coming years is going to be amazing. I am blessed to be in your presence every day.
A big thanks to our clients! You chose us for your journey, covering everything from bookkeeping, marketing, consulting, to valuations and compliance. Your strength has shaped our brand, and we want to acknowledge your resilience this year. Despite the challenges, you haven't just survived; you've thrived. And remember, thriving isn't just about money—it's about how you've handled one of the toughest years for the industry. Believe in yourselves, believe in the value you provide to your community’s health, trust yourself. But I want to leave you wonderful clients, in fact every pharmacy owner out there in pharmacy land reading this. Please don’t forget to focus on yourself. Your physical energy, your emotional energy, your mental energy. Please allow your attention to focus inwards, recognize where you are and what you are feeling. Do what you need to do to improve your state.
Finally, to my family, my Queen (Lisa), my Prince (Stephen) and my Princess (Ciara). My beloved family. My love to you all, for eternity. You give me incredible support, unconditional love, and guidance in our amazing journey through this life.
Merry Christmas to you all. 2024 will be an amazing year. We will continue to look ahead, continue our commitment to the content we produce for this industry, continue to support our clients with ever evolving bookkeeping, compliance, valuation, Mastermind and consulting services. We will continue to evolve with launching projects to help pharmacies grow. We will continue to reinforce the foundation of a strong business—financial systems. We believe in the importance of these systems (we are accountants, after all).
Above all, we believe in this industry and the value it can provide to the health of our communities. If we help you grow financially, then you can help your people to grow their health.
And my last message
“Lets give peace a change – John Lennon”
Happy Holidays!
John and the Peak Fam.