May 25, 2018
I go over the weekly blogs, podcasts and videos and news I've found helpful.
Check out my new book Memorizing Pharmacology Mnemonics here which will be coming out as an audiobook in a few weeks:
https://www.amazon.com/Memorizing-Pharmacology-Mnemonics-Questions-Pharmacist-ebook/dp/B07BRNP1C3
Full Transcript:
welcome to the pharmacy leaders podcast
with your host Tony Guerra the pharmacy
leaders podcast is a member of the
pharmacy podcast network with interviews
and advice on building your professional
network brand and a purposeful second
income from students residents and
innovative professionals hey welcome to
the pharmacy leaders podcast it's going
to be probably three days a week maybe
we'll try to keep up with that I thought
that I wouldn't be talking to too many
people over the summer but I've talked
to a couple of people on optometrists
who wrote one of the e-myth books so if
you're familiar with the e-myth series
it sold millions and millions of copies
and it's basically if we end up being I
know provider status isn't going through
this year or it looks like that's not
gonna happen but if we do get it then we
become solo practitioners and what can
end up happening like it does for
optometrists and accountants and
physicians and those that can do have
their own practice is that it takes over
our lives and instead of having a
systemized position that you know
fulfills us we end up just having a job
that you know imprisons us and we'll get
to hear from dr. gloom who's an
optometrist up here in New Hampton Iowa
but he was close with Michael Gerber and
creating that book and that was really
cool we will hear from Cobo this week
I'll put that episode up I want to do a
little bit of an intro because I just
put my books up on covo and when you're
self-publishing and there's little
tweaks to it if you do it on lulu.com
but you hit Kobo you're limited in the
categories that it's gonna go in so I
was you know being ranked as a
nonfiction book of all nonfiction books
and you don't really want that what you
want is to be very specific about your
category pharmacology or whatever it is
so that you can get a much higher
ranking and get noticed by people that
are looking to read
book on so I'll definitely have that as
well and then I'm looking forward to
I'll talk a little bit more about his
podcast but interviewing metod 101's
Erik Christensen so that'll be cool
coming up so a lot of fun this summer
and I'll try to make it fun as well a
next-generation pharmacist Awards you
still have six days to sign up for this
if you want to see me getting my
runner-up award you can I'm at 346 on
the YouTube video the 2017
next-generation pharmacist Awards
highlights my daughter's came with me to
San Diego with my wife and it was very
cool but just like having kids you know
my daughter that we were at the San
Diego Zoo and an hour before I actually
went up to receive the award one of my
kiddos runs into this boy and they just
bonk and hit each other and she passes
out and stops breathing and so we have
this event but my wife and I have been
so I don't know used to so much
happening that we just said we just were
able to take care of it we you know they
she saw the doctor at the San Diego Zoo
this doctor was able to work with humans
and she was fine she got a stuffed
animal they all came back daddy did you
win and I told them I I couldn't explain
runner-up to him so yeah I won and then
anyway it was a lot of fun but my point
of this is I think if you have someone
that you know that is one of the best
pharmacists that you know whether it's
their new practitioner or I mean I mean
just look at the award categories so
next generation pharmacists is the
highest award so of the awardees this
person would would get it
civic lore there that our civic leader
an entrepreneur I think you have their
own a pharmacy to get that one future
pharmacists so it could be a Student
Health System pharmacists lifetime
leadership patient care provider rising
stars so
last five years specialty pharmacist
technician and then what I got was the
technology innovator award for 2017 so
highly recommend the next generation
pharmacist awards and nominate yourself
if you think that you've done something
in that you know go ahead and nominate
yourself
it could happen going to the blog's TLDR
pharmacy came out with a new FDA
approval and Troy Garza is AI balises I
Bala's room AB I bow as you mad which is
for HIV but it is the very first
monoclonal antibody for HIV so it's been
about 10 years since anything news come
out and terms of mechanism of action so
that's exciting news and as usual TL DRS
posts are just and and that's the things
it's it's really an entertaining way to
read new information that comes out I'm
gonna be like many of you guys I'll be
doing some of my CES a little bit later
in the year like within the month of
when they're due and that is painful but
this it's I always love reading his
blogs so that was the TLDR pharmacy
happy farm d talks about linked in and
how you know we have a like I have 5,000
LinkedIn connections and it's true I
would know like a hundred or 200 of them
on site and that's just kind of how this
works but every once in a while I run
into someone and strike up a
conversation on LinkedIn and it's also
an easy way to kind of communicate with
some people if you're not doing Facebook
message if you're not Facebook friends
you can be LinkedIn associates I guess I
don't know what they are they LinkedIn
friends and so I think LinkedIn can be a
great way especially if you're you're
somebody that's looking for a job and
and maybe that's why I don't get as much
out of LinkedIn because I'm looking for
a job one of the pharmacy Times
contributors was really fun I
Matt Petter Eenie non-traditional
pharmacist part of the pharmacy podcast
network - but he interviewed Danielle
Brill who's vice-president of equity
research at Needham & Company and the
wolf of Wall pharmacy Wall Street is the
title and it was just kind of cool to
hear a pharmacist on Wall Street so if
you're the kind of person that watches
like those kinds of movies Wall Street
the Big Short the wolf of Wall Street
you know I think you'll really enjoy
that but that one kind of popped out at
me and then going from aggressive
investing to more conservative investing
the year financial pharmacist team had
should I pay off my house early or
invest and I wanted to make sure that I
talked about that real quick so it's the
the satisfaction that someone would have
would be immense if you know you paid
off your house but you know I was
thinking about this and talking to my
tenants yesterday and and we were
talking about LLC's and things like that
and making sure you protect your house
and and when you're renting to somebody
or you're renting to people you really
want to make sure you have all the
protections in place and if something
happens you know that you have the
insurance that you need and you know
saying well should I just pay it off and
then you know buy another house but
really that doesn't really make a ton of
sense you would really you know buy
another house and just continue to maybe
pay down aggressively but what they were
talking about was it was a mathematical
calculation saying I believe I'm gonna
get 7% returns on my investments in the
future how does that match
mathematically to me paying off what the
current interest rate is and my kind of
thought on it is if I did pay it off pay
off the mortgage on the rental property
and I could probably do it in a year
then what what would happen so I would
be without my cash reserve I if I went
to the bank and asked for a mortgage or
a loan the cheapest loan I could get
would be the mortgage on
a rental property so I would just be
doing the same thing over again
as far as our personal home I think
we're gonna have to look at taxes next
year kind of see how things played out
with this new tax code where there's a
bigger deductible or something like that
and not deductible I'm to pharmacy doubt
there's a bigger I don't remember that
what the word is standard deduction
there's a bigger standard deduction
though I think we'll still be in the
position where we benefit because we're
not really in a high high income place
so I think there's a limit of $10,000
that you can deduct and no we just don't
have that expensive a houseboat and then
we're worse in such a we only owe 50%
you know like our loan to value ratios
like 50 so there's just not a lot of
money that we're paying each month for
mortgage but I would definitely
recommend that show should I pay off my
house early or invest and do be careful
though because that's a false dichotomy
the person asks that question so they
answer that question so I'm not
criticizing the guys at yfb I'm just
saying that those aren't your only two
options your other option is to create
what I would call like a capital account
which is basically just saying I'm just
gonna create this account and I'm going
to keep finding opportunities and if you
do watch the Big Short you look at you
know kind of what Michael burry was
doing in that movie he was just saying
okay well I pick stocks and I do a good
job with that but there's this
opportunity here because the markets
gonna collapse and housing where I can
short it and I can make a ton of money
and very high returns on investment and
that's what's available so you know I
don't know if I necessarily wanted a
rental home but I found one that I knew
that I would would get a good return on
the initial investment because I knew I
was getting it for less than the value I
knew that I could put some money into it
and it would increase the value and I
knew that it would rent because of the
square footage so having that large
capital account allows you to find
investments that
maybe a little bit more non-traditional
and that are paying much higher rates of
return so my rate of return
you know when I'm looking at an
investment I'm looking for rates of
return of fifty to a hundred percent if
I'm gonna even mess with it especially
with something like a book like I'll put
in you know five thousand so the cost of
this last book that I made was around I
don't know yeah I don't want to say put
about five thousand all in so I'm
expecting at least that much back in
addition to my my original so and I did
the same thing with the real estate when
I became a real estate agent I put five
thousand into coaching and I said hey
you know what at the end of this year I
just want to know that my real estate
business then that I've created after
expenses has doubled my money I put in
five thousand to work with you I want
ten thousand back at the end of the year
so my money back plus five grand and
that that's kind of how I look at things
and then you know do I use conservative
investments yeah I mean I still have a
rental home that's being paid off and I
pay off a little bit ahead of time so I
kind of balanced them but really my goal
is is get skim I don't want to say
Buffett because that's in the billions
but you know like we'll call it mini
Buffett it's just just a small account
that I want to keep growing it's kind of
an investment account that's more fun
with something that I control know and
know a lot about which would be
audiobooks especially in nonfiction
technical books talk to your pharmacist
podcasts so building your pharmacy
consulting business with Blair Tila Myer
she's always really great in terms of
will her story if he'd not hurt it I
definitely listen definitely listen to
it she you know it's pregnant at the
time she lost her pharmacy job and this
was a long time ago
well not terribly long ago but she loved
she was pregnant when she lost her
pharmacy job and you know necessity the
mother of invention and she created her
own company and now she works I was able
to work from home and I think she does
it a couple days a week so she has
plenty of time to spend with a family
pharmacy Joe calm again these guys
pharmacy Joe is always like way over my
head in terms of the critical care stuff
he does but
always refer him if you are critically
care minded or if you were interested in
that to really start understanding the
ways that you would answer those
residency interview questions or the way
that you talk with other practitioners
in at a very very high level new podcast
well relatively new I think he started
in February but I wanted to wait till he
got a couple of episodes going so med ed
one-on-ones Eric Christensen has real
life pharmacology and every week he's
going over a different drug class drug
state another episode just went out
yesterday the 5 alpha reductase
inhibitors and he talks for he he goes
about the length of pharmacy Joe's about
seven minutes he's been going anywhere
from seven minutes to 14 minutes
depending and stuff to talk about
antipsychotics in less than 15 minutes
but these are really fantastic in terms
of getting an idea of in clinical
practice so I learned this in school
what actually happens in practice and
he's been a longtime clinical
practitioner and I trust his
pharmacology advice so that's the real
pharmacology podcast helix Talk episode
78 transitioning from school to practice
advice for new practitioners yeah I
don't know when you hear three academics
talking about retail it's it's kind of
like I don't know it was I think they
they did a good job trying to kind of
make some points about the things that
you want to keep up with in terms of you
know your your knowledge base and some
good tips about that but they were
talking about things that in retail are
absolutely brutal which are the weekends
that you know retail pharmacists have to
work especially if you're every other
nights and weekends and then that
appease are kind of a fiction and that
you work this 8:00 to 4:00 or 9:00 to
5:00 and no weekends and that's just not
how it is
in the real practice so I know it was it
was worth to listen but it was just kind
of like when you when you hear three
people with nine-to-five jobs
talking about people that don't have
nine-to-five jobs it was just a little
bit of a disconnect there but I always
like helix talk it's always an
interesting conversation to listen to
Richard's monumental podcast interview
on building brand so dr. Richard weaith
down in Florida he spends I think about
forty five minutes talking about how
about his brand and how that kind of
came to be but also how he got a lot of
exposure for a linked in something he
wrote on LinkedIn and then he's also on
medium which is another kind of blog so
he's very altruistic always giving away
a lot of good content so I recommend rx
radio as well let's seek or consult rx
so I don't think he has anything
necessarily new but I really like the
way he goes through the cases and really
if you're a preceptor it's kind of a
this is how I would go through such and
such case and so forth so I don't know
I'm just a big fan of core consult as
well I think I freak got to do the
mother ship report so let me make sure I
get that because I think what it
happened was I clicked from Hillary was
on the pharmacy podcast network and then
I I always talk about her blog so but
Monday on the mother ship was expanding
your compounding business and this was
actually very very good in terms of
hearing what it is you can add if you
own a pharmacy in terms of those things
that have very little to do with the
drugs that were dispensing but other
things been and I only connected with it
really well because I was talking to
the e-myth author who talked about how
an optometric soar as an optometrist
there are a lot of health things
especially in terms of taking care of
your eyes and the right antioxidants and
vitamins and things like that that need
to come along with it so a really good
episode their income the outcomes show
they talked about--we points in a way
point is when you I want to actually
find the definition because they talked
about it as you get off course and then
you come back so a waypoint is actually
an end of a leg of a course especially
one especially one whose coordinates
have been generated by a computer huh so
basically they were saying like a
waypoint
it would be graduation or a waypoint
would be marriage or something like that
and that you need to kind of re-evaluate
every time you know you have a waypoint
or something like that but that was
probably the best income outcome shows
I'd listen to I really really enjoyed it
and then Hillary Blackburn is the guest
on PGX for pharmacists and I think that
you'll really enjoy that episode as well
all right so just a couple of youtubers
so muda verma he was nice enough to come
on the pharmacy leaders podcast and he
talked about traveling the world during
pharmacy school and he has certainly
done that and he's on with Kevin Yi on
Kevin Yi pharmacy on YouTube and then
Brian Fung a day in the life of an
informatics pharmacist so I went a
little bit long but have a good holiday
weekend as always if you have a show
that you want to hear let me know or a
topic you want to hear and then if you
want to put together an interview and
you want to publish it if you're a micro
preneur you know you're making under a
hundred thousand a year or something
like that I'm happy to help you promote
whatever it is that you're working on
whether it's a book or a course or
something like that just let me know you
can always contact me on facebook
messenger or on LinkedIn
whichever so happy Memorial Day weekend
I will talk to you guys next week
support for this episode comes from the
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thank you for listening to the pharmacy
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[Music]
