Useful Advices - Business

When you are examining your day to day activities it is truly amazing how small changes in the things you do and how you do them gave have a large impact in your life. I recently examined how I conducted my business and

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

identified 6 simple changes I could and should make that will double or even triple my income with virtually the same amount of effort I am putting in now.

As a commission only salesperson I decided to try and identify

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

little changes I could make that could result in dramatic changes of income. Based on the Leader boards for the month of January I was 150 out of about 1800 agents who turned in business. That would put me in the top 10

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

% not bad but there still were about 149 people better then me. My Goal is to crack the top 100 by summer and Top 50 by the end of the Year.

So far in 2007 I have been averaging 4 sales a week (17 sales a month) with m

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

worst week being 2 sales and my best week being 9 sales. I know people who sell the same products I do who sell over 10 policies a week. In order to double my income I would need to average an additional 17 sales a Mo

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

th. To triple my income I would need to average an additional 34 sales a month.

Here are 6 Areas I could improve.

1 - Set more Appointments

If I could set just 2 More Appointments a Week I could add at least 2 Sales

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

a Month. Let’s say it takes me 25 Dials to set 1 Appointment then with just 50 More Dials a week I could set 2 more appointments. Of course if I could improve my appointment setting to where I only need 15 or 20 Dials

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

er appointment I could achieve the same results without any Additional work.

2 – Sit on more appointments

Obviously the more appointments I set the more appointments I would sit on or so one might think. Unfortunately

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

it doesn’t always work that way. If you just concentrate on appointment setting and forget to tie the appointment down good you tend to get stood up and canceled on more so more appointments don’t always equal more time

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

s in front of the customer. If I could sit in front of 4 extra customers a Week that could increase my sales by 2 a week easily (8 a month)

3 – Do more drive bys?

A drive by is going to a lead that can’t reach on the

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

hone. Throughout the course of a week I am constantly within blocks of leads I have not been able to reach by phone. By simply knocking on their door I can either set an appointment to come back later or actually sit i

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

front of them right now. Drive bys can mean an extra 2 to 4 sales a month.

Placing a cleverly designed sticky note on the door when they are not home you can increase the effectiveness of drive bys by having them call

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

you and set the appointment then. This can actually increase drive by sales by an additional 2 a month.

Doing a quick review in order to double my income I need to add about 17 extra sales a month. The first 3 Ideas

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

an translate into 14 to 16 additional sales monthly.

4 – Get better at getting referrals from existing customers

Their really is no limit on the number of extra sales you can make by getting referrals from existing cus

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

omers. Conservatively this can mean an extra 2 sales a month but the sky truly is the limit.

5 – Get more sales from existing customers

By selling existing customers additional product, like protection for their child

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

ren that can also be used for college savings, or annuities or universal life products can also mean an added boost to monthly sales of at least 2.

My first 5 ideas have actually served to increase my monthly sales by 1

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

to 20 per month and achieving my goal of doubling my income. Any other increase in sales at this point is gravy.

6 - Improve my close ratio

If my close ratio is 50% and I am sitting on 16 appointments a week to close

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

8 sales then by improving my close ratio by just 10% I can close an additional 1.6 sales a week or 7 to 8 sales monthly. By improving my close ratio 20% I can increase my monthly sales to about 14 to 16.

As you can se

.

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 the above 6 things can actually triple my monthly income. It wouldn’t be very hard for you to identify 5 to 10 little things you can do to double or triple your monthly income. Actually I have identified a few more t

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

ings I can do to improve my income even more like Handling my Pending business better. Following up with existing customers and hiring part time help to do some of my clerical tasks so I can spend more time in the field

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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Useful Advices - The 6 Surefire Simple Steps Anyone Can Use To Double or Even Triple Their Income

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