Useful Advices - Business

For many years as a sales manager, I would only hire the stereotypical sales representative. You know the type—on a human relations continuum or scale of z

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

ero to ten, with the ten representing a candidate who is totally gregarious and outgoing and the zero, someone who is introverted with few people skills, I

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

Examples of combination products may in

’d always recruit the ten. As an advisor to businesses and professional service firms on how to build an effective sales team, I would also council my clie

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

nts to hire “tens.” Big mistake!

Pareto's principle (the 80/20 Rule) is vividly illustrated in most industries by the fact that 80 percent of the sales ar

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

closed by only 20 percent of the sales professionals. After 24 years of working with literally thousands of sales representatives and service industry pro

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

Combination pro

fessionals as an advisor, trainer and coach, I have learned an important truth--that the ten personality is rarely found in the ranks of the top 20 percent

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

of the sales professionals who produce 80 percent of the sales. For this reason alone, I now hire candidates that fall about a six on the personality cont

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

inuum and I council my clients to do the same.

Why hire a six? Because the six personality makes up the vast majority of today’s top sales producers. And

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

hey are successful at selling, simply because they have a six personality. They are a bit reserved and a lot less outgoing than the ten, but they still ha

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

ve the people skills to communicate well. They do less talking than a ten and they listen better, giving them a decided edge in communicating effectively.

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

Although six personalities have less charisma than a ten, they have a much greater ability to deal with the details of the selling process. This helps them

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

Following aspects would a

to consistently find new prospects and to organize their day to get more done than an eight ro ten personality. Their ability to produce leads, the effect

dd to the challenges in developing combination products:

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

ve use of time and their systematic approach to presentations, gives the six personality a selling edge. Most sales professionals with a ten personallity a

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

bsolutly loath prospecting, paperwork and organizing themselves, so they simply rely on their personality and charm to achieve their sales objectives.

You

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

have to hire smart to develop a sales team that are all "top producers." You don't have to live with an 80/20 rule sales team, if you truly understand the

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

personality of the sales or service industry professionals who make up the 20 percent and then only hire candidates that fall into this demographic. Howev

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

Professional from academic institutions, pharmaceutical industries, health care indust

r, there's one problem with this suggestion. You rarely can find a candidate that is in the top 20 percent, who is actively looking for new employment. And

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

, a company or firm would be crazy to let their top producers leave them. Most employers usually do everything in their power to retain their best performe

.

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

rs. Your only recourse then is to hire someone from the 80 percent grouping with potential to be a top producer. And how to do this must be the topic for a

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

Companies that provide selfless information through particip

nother article

Best wishes for continued sales success.

To Obtain a discount on 101 SALES MYTHS manual click on:

http://www.TheSellingEdge.com/myths1.ht

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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