Useful Advices - Business

A few summers ago I started running Triathlons. At my age, simply crossing the finish line alive is a real thrill. As my training continues my focus is on aerobic conditio

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

ning. Simply stated this is the ability to perform some form of exercise for longer and longer periods of time.

The method recommended by all of the professional trainers

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

Examples of combination products may in

and doctors is Long Slow Distance, LSD. That is swim, bike, and run for longer and longer distances while maintaining a relatively stable heart rate. The results should

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

be a stronger ability to perform at higher heart rates. As you maintain this training regimen, you will perform faster because your ability to replace oxygen increases. So,

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

you will be able to swim, bike and run faster while maintaining the same heart rate.

Now, simply apply this idea to Prospecting and you can see the value of making cold c

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

Combination pro

lls on a regular basis. As you maintain your Prospecting efforts you get better and better at the skill. Also, you begin to build up a large reserve of potential customer

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

s with whom you will need to follow up in the weeks, months, and years ahead.

It doesn't take long to realize the benefits from simply persisting at your Prospecting effor

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

ts.

Let's consider how many real Prospecting/cold calls you make in any year. Now when I say a Prospecting call I mean that you "talk to a potential customer with the int

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

ent of making them a customer."

When you stop in a talk to a receptionist, get a name, leave some literature and a card, but, don't talk to the actual prospect that is onl

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

y half a Prospecting call. You simply have another lead. When you call back or get that person on the phone, then you have made a Prospecting call.

Now with those parame

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

ers in mind how many Prospecting/cold calls did you make in the last year? Could you have made more? If you had, would your have been more successful in your mind?

Most

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

Following aspects would a

of us have about 40 full weeks available in the year for selling. Vacations, holidays, meetings, etc. take up the rest of our year. Please consider the following idea.

I

dd to the challenges in developing combination products:

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

n aerobic training, we are supposed to swim, bike, or run for a set period of time everyday of the week, weekends we can rest. For a few weeks of the year we need to add

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

Anaerobic training, which is “speed work.” This builds up our ability to go faster in the long haul.

What would happen if you made one or two Prospecting/cold calls every

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

day you were selling? That would be 5 or 10 new prospect calls a week, 200 - 400 per year. That could be your "aerobic selling."

Next, you could add a few "anaerobic" we

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

ks to your selling by making several Prospecting/cold calls a day one week a quarter or so. You choose when.

What I suggest is that you simply decide IF you would like to

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

Professional from academic institutions, pharmaceutical industries, health care indust

do this or not. If yes, then start. Use our System for Prospecting and Making Cold Calls, or your own, or someone else’s. The important thing is that you actually DO th

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

e calls.

The more I train the more I see the similarity between athletic performance and selling performance. Unfortunately for me we have to go out there everyday, we ca

.

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

n't just think about it. If you don't train or you don't Prospect the results are obvious. The next time you show up at a “Triathlon” you may have trouble finishing.

Now

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

Companies that provide selfless information through particip

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 - Persistence in Prospecting is Simply the Aerobic Training of Sales

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