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Useful Advices - Ready, Set, Stop!
OK. Here we are. The beginning of another fantastic sales year. You’ve just received your yearly quota from your sales manager. Being the hard working, efficient Sales Professional that you are, you immediately pick up the phone in the
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
quest to meet your goal.
Put the phone DOWN! Don’t make another call or go on another appointment until you have had a personal and professional goal setting workshop with yourself. This exercise is vitally important. You know where yo
Put the phone DOWN! Don’t make another call or go on another appointment until you have had a personal and professional goal setting workshop with yourself. This exercise is vitally important. You know where yo
; 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
u need to be (your quota), but do you know how to get there? Have you put down in writing specific actions that will get you to your goal? Do you know how your sales goal breaks down to a monthly, weekly and even daily basis? Do you kno
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
how many calls you will have to make to get to your goals?
These are all important questions. Let’s look at them one by one:
How does my quota break down?
If your like me, when you get your annual quota, you get a little lump in you
These are all important questions. Let’s look at them one by one:
How does my quota break down?
If your like me, when you get your annual quota, you get a little lump in you
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
r throat. If you work for any organization worth their salt, they have set some pretty high sales goals. Although these goals are high, they should be attainable. But then again, you are not Super Man! One way to make this number more p
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
latable is to reduce it to a more manageable and realistic number. Do this first by breaking your annual quota down to a quarterly quota, then to a monthly, weekly, daily and even hourly quota. What do you have to do on an hourly basis
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 reach your annual sales goal? When you do this, the number loses some of it’s ferocity and becomes more manageable. It takes that huge sales goal mountain and turns it into smaller sales quota mole hills that are easier to climb.
Do
Do
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
you have a plan?
Now that you have taken that huge sales quota and broken it down into more manageable pieces, do you know what specific actions you are going to take to reach those goals? Of course your immediate reaction is to get on
Now that you have taken that huge sales quota and broken it down into more manageable pieces, do you know what specific actions you are going to take to reach those goals? Of course your immediate reaction is to get on
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
the phone and start dialing. Sometimes, though, this may not be the best coarse of action. It might be a good idea to block out a morning, or even a full day to do an account/prospect evaluation. What I mean is this; who is in your fun
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
el? Why are they there? How “hot” are they? What will you need to do to move them towards a buying decision? Again, these are all important questions. That is why you really want to do this evaluation on a quarterly basis. Your products
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
change, your client/prospect’s needs change, the market changes. There are any number of factors that are constantly in flux and it is in your best interest to evaluate them on a regular basis. Doing this and understanding your positio
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
n in the marketplace can be the one catalysts that sets you apart from your competition and helps you smash your sales goal.
What are my next actions?
Now that you have your goal and have re-evaluated your products, clients/prospects
What are my next actions?
Now that you have your goal and have re-evaluated your products, clients/prospects
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
nd marketplace, you need to determine the specific actions that will get you to your sales goal. You need to know exactly how many calls will turn into how many sales. And it may not be just calls. Maybe a direct mail campaign or an ema
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
il newsletter might be a better use of your time to reach out and touch those prospects that still may be good, but are not that “hot”. In today’s marketplace, you need to be creative. You need to do business in a way that will separate
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
you from your competitors. Be a leader in this area and you will be a leader in sales closed.
Write it down!
Don’t just do this in your head. You might as well not do it! Write it down. Any person who has studied successful people in
Write it down!
Don’t just do this in your head. You might as well not do it! Write it down. Any person who has studied successful people in
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
any field finds one thing in common. Those individuals have specific, WRITTEN goals. Writing your goals and next actions down makes them real. And don’t just write them down. Review them daily. Put these goals in a place that you look e
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
ery day. If you work off a laptop (as most of us high speed, low drag Sales Professionals do these days) have your goals be your wall paper. Make it obvious. You should see these goals often and that should drive you in your daily activ
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ity. Trust me. If every time you boot up your computer you see “$1,000,000 in 2007!” you won’t waste a lot of time doing things that do not directly contribute to the achievement of this goal.
Conclusion
Stop and set your goals. You o
Conclusion
Stop and set your goals. You o
.
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
e it to yourself and your organization. There is no better use of your time than to take several hours or even a full day and goal set. Get off site if you need to. Go to a coffee shop or quite place and do this. For the mechanics, I wo
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
uld recommend Anthony Robbins or Brian Tracy’s goal setting workshops. Click on the Nightingale-Conant ad on any of our pages to order these workshops or click The Ultimate Goals Program. Much success in 2007! Let us know if we can help
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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