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Useful Advices - Salesperson - Do You Need One At Start-up
A salesperson is not a good idea early on. This is a question that many computer services businesses have.
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
The best advice I have is that it is generally a very, very bad idea to hire a salesperson when you are jus
; 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
t getting established.
Early on, your focus needs to be on establishing the identity of your business. Bri
Early on, your focus needs to be on establishing the identity of your business. Bri
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
nging a salesperson into the mix will take your attention away from your core business. When you have a sal
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
esperson you have to be concerned with human resource issues as well as business development.
Instead of es
Instead of es
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
tablishing account ownership and controlling those accounts, you're monitoring someone else's work, motivati
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
ng them, training them, etc... You need to be training your prospects and clients as well as yourself - not
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
salesperson.
In computer services you are your business. An outside salesperson will not be able to get a
In computer services you are your business. An outside salesperson will not be able to get a
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
cross your unique talents and abilities. This is a people business, and your clients are buying you - not t
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
he router or the software license.
An added complication when hiring a salesperson is the issue of account
An added complication when hiring a salesperson is the issue of account
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ownership. Despite having non disclosure agreements, non competes, and others like them, a salesperson can
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
claim legal entitlement to your accounts. The nasty protracted battle that can ensue will absolutely kill y
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
our business. If an outside salesperson recruits 90% of your client base in the first year that is simply to
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
o much leverage to give another person.
Bottom Line on Hiring A Salesperson As your business expands you
Bottom Line on Hiring A Salesperson As your business expands you
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
ill have plenty of room to hire a salesperson. During the first three to six month at least, a salesperson
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
is more a liability than an asset. Aside from the time and energy you will spend on the salesperson, you mi
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
ght encounter legal issues with an outside salesperson as well. Hiring a salesperson is a pretty risky move
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
. You're much better off getting your initial roster of sweet spot clients yourself. You will have a much
.
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
more stable, long term business because of it.
Copyright MMI-MMVII, PC Support Tips .com. All Worldwide Rig
Copyright MMI-MMVII, PC Support Tips .com. All Worldwide Rig
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
hts Reserved. {Attention Publishers: Live hyperlink in author resource box required for copyright compliance
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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