So, you’ve been in the job market or plan to hit it soon and are looking for promising professions to join. While one solid reason often suffices to start a career in a particular field, we can give you ten reasons for becoming a pharmacy tech.But before that, let’s try and understand what exactly is it that a pharmacy technician does. Pharmacy technicians are allied healthcare professionals trained in performing administrative, clerical and pharmacy-related tasks under the direct supervision of a licensed pharmacist.You could call them the eyes and ears of a pharmacist as they provide a range of support services that help pharmacists fulfill their primary responsibilities. Here are top ten reasons why becoming a pharmacy technician may be a smart career move:Reason #1Positive job outlook: The U.S. Bureau of Labor Statistics has projected a much faster than average growth in the employment of pharmacy technicians over the next decade. According to the bureau, the growing number of older people requiring medication and advances in pharmaceutical research are expected to cause a 32 percent increase in the employment of pharmacy techs in the 2010-20 period.*Reason #2Minimal training requirement: Although pharmacy technicians do not have any formal educational requirements and can be trained on the job, but judging by the current employment trends, it’s best to complete a post secondary pharmacy technician training program and get professional certification to enjoy maximum opportunities. Career training in the field is available at vocational schools as well as community colleges. The training, depending on the program you choose, can last from a few months to a year.Reason #3Attractive remuneration: Pharmacy technicians enjoy attractive compensation, especially considering the fact that the educational prerequisites for the job are rudimentary at best compared to some of the other healthcare professions like nursing. According to the latest payscale.com data, pharmacy technicians make an average of $8.04 – $15.56 per hour or $16,773 – $35,199 per year in total pay, which includes annual salary, hourly wages, bonuses, overtime, tips, commissions, profit sharing, and other types of cash earnings.**Reason #4Online career training: Many schools offer online pharmacy technician training courses that are not just a flexible and convenient alternative to classroom training, but also accepted by employers as valid educational programs.Reason #5Flexibility in work schedule: Since a lot of pharmacies, especially the ones in hospitals, function round the clock, pharmacy techs may enjoy the flexibility to pick a work schedule that suits them. If you have other commitments during the day, you can request your employer for a late work shift.Reason #6Many work opportunities are available: Pharmacy technicians work in a variety of settings including hospital-based pharmacies, retail pharmacies, local drug stores, grocery and departmental stores, insurance companies, pharmaceutical research facilities, etc.Reason #7Opportunity to develop career skills: The job of a pharmacy technician can be a platform to develop important career skills that are also transferable from one job to another.Reason #8Work in clean environment: People with this job usually work in extremely clean and pleasant environment. In fact, part of their job is to keep the space they work in uncluttered and sanitized, so patients and/or their families can get their prescriptions filled without having to worry about contracting infections.Reason #9Potential to grow: With experience and further training, pharmacy technicians can rise up the ranks to supervisory roles. The work also provides an excellent training ground for pursuing advanced education in the field.Reason #10Become a part of the healthcare vertical: Becoming a pharmaceutical technician will provide you a chance to be a part of the flourishing healthcare sector and enjoy the prestige, stability, and gratification it offers. Not only will you receive the perks that come with being a healthcare professional, but you will also return home each day satisfied and content with having helped people at their time of need.Sources:*bls.gov/ooh/Healthcare/Pharmacy-technicians.htm#tab-6**payscale.com/research/US/Job=Pharmacy_Technician/Hourly_Rate
Getting Up to Speed With Digital Marketing
In this present day of advanced technology and the speed of which it is happening, it will come as no surprise that most business these days are looking at digital marketing as a way to increase their business and their awareness in the market place. No doubt you are after an effective way to streamline your business in line with technologies, so it essential to have in place a well thought out digital plan that is quantifiable and easily implemented.Make sure that the business you are running is taking full advantage of the resources that it has, to be able to put into place, well defined and effective online marketing and planning. How do you optimise the people that visit your web site and what precisely are the reasons and statistics that make them visit your site? Analysis of these figures will provide you with being able to make sure that your business in the position of making these people comes back time and time again.It is well to consider getting in an experienced team of professional people who specialise with digital marketing, as this will go a long way to enhancing your business, and with the current market place being so competitive in whatever business it might be, having the edge or at least being at the forefront of the technology like online marketing is essential. Getting the correct feedback and response from your all importunate customer, will be achieved by using all the strategies that you have put in place which have been targeted and expertly executed.We all know that having foresight in business is one of the sure ways for a business to be successful and in the competitive market that we now live in, it is wise to plan well in advance and making use of a digital marketing agency is a sure way to implement this. If you look around at the businesses that are in the market you will quite possibly find after doing a little bit of research more than over fifty percent plus are now looking to actually significantly up their budget on digital marketing, this would imply that competition is set to get even tougher, and if you want to keep your head out in front, investment in the digital marketing has got to be something to be done in the near future.So it is not a surprise that companies who were not contemplating digital marketing some years ago, saying it did not have any application for their business, are now actively looking to make this a fundamental part of their business. The future of your business could well lay in the implementation of digital marketing and investment with this online type of marketing. Take advice from a digital marketing agency, which will be able to maximise all the potential your business has to make for digital marketing work for you. It is something you will not regret, and there is no reason you should feel left out in this specific area.
Alternative Financing Vs. Venture Capital: Which Option Is Best for Boosting Working Capital?
There are several potential financing options available to cash-strapped businesses that need a healthy dose of working capital. A bank loan or line of credit is often the first option that owners think of – and for businesses that qualify, this may be the best option.
In today’s uncertain business, economic and regulatory environment, qualifying for a bank loan can be difficult – especially for start-up companies and those that have experienced any type of financial difficulty. Sometimes, owners of businesses that don’t qualify for a bank loan decide that seeking venture capital or bringing on equity investors are other viable options.
But are they really? While there are some potential benefits to bringing venture capital and so-called “angel” investors into your business, there are drawbacks as well. Unfortunately, owners sometimes don’t think about these drawbacks until the ink has dried on a contract with a venture capitalist or angel investor – and it’s too late to back out of the deal.
Different Types of Financing
One problem with bringing in equity investors to help provide a working capital boost is that working capital and equity are really two different types of financing.
Working capital – or the money that is used to pay business expenses incurred during the time lag until cash from sales (or accounts receivable) is collected – is short-term in nature, so it should be financed via a short-term financing tool. Equity, however, should generally be used to finance rapid growth, business expansion, acquisitions or the purchase of long-term assets, which are defined as assets that are repaid over more than one 12-month business cycle.
But the biggest drawback to bringing equity investors into your business is a potential loss of control. When you sell equity (or shares) in your business to venture capitalists or angels, you are giving up a percentage of ownership in your business, and you may be doing so at an inopportune time. With this dilution of ownership most often comes a loss of control over some or all of the most important business decisions that must be made.
Sometimes, owners are enticed to sell equity by the fact that there is little (if any) out-of-pocket expense. Unlike debt financing, you don’t usually pay interest with equity financing. The equity investor gains its return via the ownership stake gained in your business. But the long-term “cost” of selling equity is always much higher than the short-term cost of debt, in terms of both actual cash cost as well as soft costs like the loss of control and stewardship of your company and the potential future value of the ownership shares that are sold.
Alternative Financing Solutions
But what if your business needs working capital and you don’t qualify for a bank loan or line of credit? Alternative financing solutions are often appropriate for injecting working capital into businesses in this situation. Three of the most common types of alternative financing used by such businesses are:
1. Full-Service Factoring – Businesses sell outstanding accounts receivable on an ongoing basis to a commercial finance (or factoring) company at a discount. The factoring company then manages the receivable until it is paid. Factoring is a well-established and accepted method of temporary alternative finance that is especially well-suited for rapidly growing companies and those with customer concentrations.
2. Accounts Receivable (A/R) Financing – A/R financing is an ideal solution for companies that are not yet bankable but have a stable financial condition and a more diverse customer base. Here, the business provides details on all accounts receivable and pledges those assets as collateral. The proceeds of those receivables are sent to a lockbox while the finance company calculates a borrowing base to determine the amount the company can borrow. When the borrower needs money, it makes an advance request and the finance company advances money using a percentage of the accounts receivable.
3. Asset-Based Lending (ABL) – This is a credit facility secured by all of a company’s assets, which may include A/R, equipment and inventory. Unlike with factoring, the business continues to manage and collect its own receivables and submits collateral reports on an ongoing basis to the finance company, which will review and periodically audit the reports.
In addition to providing working capital and enabling owners to maintain business control, alternative financing may provide other benefits as well:
It’s easy to determine the exact cost of financing and obtain an increase.
Professional collateral management can be included depending on the facility type and the lender.
Real-time, online interactive reporting is often available.
It may provide the business with access to more capital.
It’s flexible – financing ebbs and flows with the business’ needs.
It’s important to note that there are some circumstances in which equity is a viable and attractive financing solution. This is especially true in cases of business expansion and acquisition and new product launches – these are capital needs that are not generally well suited to debt financing. However, equity is not usually the appropriate financing solution to solve a working capital problem or help plug a cash-flow gap.
A Precious Commodity
Remember that business equity is a precious commodity that should only be considered under the right circumstances and at the right time. When equity financing is sought, ideally this should be done at a time when the company has good growth prospects and a significant cash need for this growth. Ideally, majority ownership (and thus, absolute control) should remain with the company founder(s).
Alternative financing solutions like factoring, A/R financing and ABL can provide the working capital boost many cash-strapped businesses that don’t qualify for bank financing need – without diluting ownership and possibly giving up business control at an inopportune time for the owner. If and when these companies become bankable later, it’s often an easy transition to a traditional bank line of credit. Your banker may be able to refer you to a commercial finance company that can offer the right type of alternative financing solution for your particular situation.
Taking the time to understand all the different financing options available to your business, and the pros and cons of each, is the best way to make sure you choose the best option for your business. The use of alternative financing can help your company grow without diluting your ownership. After all, it’s your business – shouldn’t you keep as much of it as possible?