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Useful Advices - Is It Already Too Late?
Last week, I got an e-mail from a sales training organization with the following question as the headline:
"What are you going to do to insure that your sales goals are met this quarter?" This was to pr
"What are you going to do to insure that your sales goals are met this quarter?" This was to pr
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
omote a workshop coming up in mid June.
Now I don’t know about you, but my sales cycle is about 8 weeks. A lot of my clients have 2 to 3 month sales cycles. So based on an eight week cycle, my quarter w
Now I don’t know about you, but my sales cycle is about 8 weeks. A lot of my clients have 2 to 3 month sales cycles. So based on an eight week cycle, my quarter w
; 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
as decided in late April; if you have a three month cycle the die was cast in late March. When this cute and catchy question landed in my junk box, I was more than half way through my third quarter.
Noth
Noth
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ing short of a miracle is going to change the results of this quarter at this time in June. Sure, I can go to a good client and “get” him to do something now rather than August, but how many times can 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
go to the well?
I was to have lunch with a friend a few weeks ago, which happened to be the last week of the month. He called all apologetic, saying he had to cancel our lunch: “Sorry man, but it’s the e
I was to have lunch with a friend a few weeks ago, which happened to be the last week of the month. He called all apologetic, saying he had to cancel our lunch: “Sorry man, but it’s the e
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
nd of the quarter, we’re all pushing hard to close things, lets meet next week when things will be back to normal.” Knowing his background it wasn’t really his fault, he like many executives heading up sa
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
les forces, were trained by other sales leaders with this mediocre outlook. I remember, his former employer forbade vacations or any absence the last week of any given quarter.
This not only insured that
This not only insured that
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
there would be no new business activities in the first weeks of the new quarter, as people took time off. But there would also be no prospecting the last week of any quarter, as the VP and Manager would l
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ook badly on any activity that wasn’t focused on closing business. So with a three month cycle, they are in fact assuring that there would be little to close same time next quarter. Two weeks or more ign
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
oring the front end of the process (prospecting) ensured that frantic ritual at the end of the next quarter. Except for those caught up in it, it is almost amusing and predictable, like the changing of th
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
seasons.
Did you ever have one of those managers that comes to on March 27th, and says “What can we close by the end of the quarter?” And you think to yourself, gee lets see, you’ve been looking at my p
Did you ever have one of those managers that comes to on March 27th, and says “What can we close by the end of the quarter?” And you think to yourself, gee lets see, you’ve been looking at my p
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
ipeline weekly, we have an eight week cycle, I guess we can close anything that has been there for eight weeks; if I try hard I may close some things that have been in there for the last six or seven weeks
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
; and if you are willing to reduce the price by 40%, I think I can close that company we met with five weeks ago. Oops, price integrity was one of your KPI’s this year. So when “things are back to normal
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
”, what does that mean?
While it is always good to balance short term and long term planning, the reality is that your cycle is your cycle, and unless you can change that, what you reap today, you had to
While it is always good to balance short term and long term planning, the reality is that your cycle is your cycle, and unless you can change that, what you reap today, you had to
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
ew a while back, in my case eight weeks ago.
So where does that leave you? With the reality that today is the last day to affect your sales cycle, (with a three month cycle) if you don’t put something in
So where does that leave you? With the reality that today is the last day to affect your sales cycle, (with a three month cycle) if you don’t put something 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
your pipe today, how are you going to close something in three months? So rather than hoping for a miracle at the end of the race, you need to fuel a steady race from the start. My friend and other mana
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
gers need to come to terms with the fact that if they focused every day on creating new opportunities, then things will close every day x weeks down the road.
The clients who hire me and I don’t have an e
The clients who hire me and I don’t have an e
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
d of quarter crunch, no end of year crunch, just a steady flow of revenue, in my case eight weeks after I initiate things. Every day I focus on starting something new. Now it’s not always easy, but it’s
.
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
a lot less stressful, and way more lucrative than worrying about it the least three days of the quarter. Once you recalibrate, you’ll find that your energy and cash flows are balanced, steady and predicta
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
ble.
To learn what many of our clients have, how to get off the gerbil treadmill and to take the stress out of the process, call us and find out more about our Prospect Management and Prospecting programs
To learn what many of our clients have, how to get off the gerbil treadmill and to take the stress out of the process, call us and find out more about our Prospect Management and Prospecting programs
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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