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Useful Advices - Planning to Succeed at Sales
Each year my company hands me down a set of commitments. Quite simply these commitments are goals that the company is asking me to obtain. Some of them are financial related (aka my quota), but most of
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
them quite honestly are not clear goals, that are handed down by corporate head office. They are a subset of the executives goals that they are trying to get accomplished in the field. The unfortunate
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
thing is that most of these goals are not related to what I do every day. Where most people I see, file them away not to be seen again until review time, what I do with them is take them, modify them a
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
nd then make them mine.
Each year, my team and I get together and have a day of goal setting. We look at the commitments (goals) that they have set for us, and we find ways to make them real for us. O
Each year, my team and I get together and have a day of goal setting. We look at the commitments (goals) that they have set for us, and we find ways to make them real for us. O
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
nce we have made them real, we then turn around and have a discussion about how we are going to use these goals to stretch ourselves and come up with a list of “stretch goals”.
This exercise is a fun an
This exercise is a fun an
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
often interesting exercise that I suggest trying if you’ve never done it before. I have a team of about 7 people that directly support me within my accounts. Each year, it is an eye opening experience
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
to see how these people are aligned (or not aligned) to what I feel is the vision and strategy that I have set out for my territory (which I view to be my $15 Million business that I own). Quite often
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
we have interesting conversations that are centered around our interpretations of the priorities of the company, but most importantly we spend a lot of our time, not focused on what the company wants us
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
to do, but rather we talk from the eye of our customers and spend time focusing on what our customers want us to do.
We actually set goals in each of the following categories:
1) Financial – Goals
We actually set goals in each of the following categories:
1) Financial – Goals
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
that are related to how we will beat quota.
2) Personal – Goals that are related to our career development, personal development or personal lives
3) Customer Satisfaction – Goals that are r
2) Personal – Goals that are related to our career development, personal development or personal lives
3) Customer Satisfaction – Goals that are r
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
lated to increasing how we are viewed by our customers and how we will move ourselves from a vendor to trusted advisor postion
4) Win – Goals on key solutions, products or key competitive take outs
4) Win – Goals on key solutions, products or key competitive take outs
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
that we will focus on. Although this could fall under financial we call it out separately because we want to ensure that we focus things that may be strategic but not revenue generating
In each catego
In each catego
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
ry we will set 2 to 3 goals. We ensure these goals are measurable (eg. We will exceed our quota by 30% this year), that they are tied to timelines (We will have two documented case studies with customer
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
references by May 15, 2007) and that someone is directly accountable to the team for that specific goal. At the beginning of each of our sales meetings (which we have weekly either in person or via pho
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
ne), we spend 5 minutes quickly reviewing how we are tracking against our goals. If we are behind we spend some time discussing a recovery strategy, and if we have met a goal we check it off our list an
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
celebrate it.
Each one of our goals are not simple, in fact we ensure that they are stretch goals. Last year for instance we set a goal to be 140% of plan by the end of the year (in our company a grea
Each one of our goals are not simple, in fact we ensure that they are stretch goals. Last year for instance we set a goal to be 140% of plan by the end of the year (in our company a grea
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
t year is 120%). How did focusing on that goal every week and discussing it at all times help us out? We ended up at 131% of quota at the end of the year, and as the number 1 sales team in the country.
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
Not bad, for having spent 1 day setting goals and 5 to 10 minutes a week reviewing and focusing on them.
I know that every sales person that I talk to tells me that they have goals. I often question
I know that every sales person that I talk to tells me that they have goals. I often question
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
how many of them make them a part of their weekly or daily routines (although I talk to the team weekly about them, I actually use Microsoft Outlook categories within tasks to track my activities by goal
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
s daily). I believe that the old adage failure to plan, is planning to fail holds true and ensure that I use them every day to make sure that I continue to plan to be successful and execute on that plan
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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