Useful Advices - Business

Details (yuck!) are the bane of a sales professional’s existence.

None of us wants to crunch puny little numbers throughout the day. Save that for the accountants who eat that stuff up.

Let us be free t

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

o sell, sell, and sell some more. The only puny numbers we’re interested in are numbers like ‘ones’ and ‘zeros’, as in the number one followed by lots and lots of zeros. Give us a nice round number like $

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

Examples of combination products may in

,000,000 … that’ll put a smile on the faces of just about every professional who sells!

Ah, but here’s the rub … those puny, little numbers hold captive the secrets to getting to the big round numbers, s

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

oner rather than later.

Now, read closely and let your mind think about possibilities as the power of puny, little numbers is revealed.

A well-known, rarely implemented truth in the world of sales profe

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

sionals is this…

What You Can Measure, You Can Manage...
What You Can Manage You Can Improve...
Dramatically!

Let’s start with little numbers like 10 and 1. As you review your call ratios for

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

Combination pro

the year, you may find that you smile, you dial, and you make about 10 cold calls a day—around 50 cold, prospecting calls per week.

And you see that at the end of your time on the phone, you average abou

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

t 1 appointment for every 10 cold calls.

You close roughly 1 out of every 2 people you meet with. When all is said and done at the end of the year, these puny little numbers of appointments result in sal

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

s that yield a pretty good income for you, around $70,000.

Now, let’s say you want to double your income. Yep, as the new year rolls around, you decide you want to double your income, making it $140,000.

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

The secret to reaching your goal is hidden in the numbers. Sure, your call ratios and salary may be much higher (or lower) than the numbers used in this example. No worries, simply plug your numbers into

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

these equations to determine your desired outcome.

Being in control of our goals is one of many wonderful things we like about the profession of sales, isn’t it? We know the only thing standing between o

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

r dreams and us is our level of skill. We’re glad to gobble up any tips, tools, and techniques that’ll improve our seemingly magical talents that are the envy of others ... especially those who think they

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

Following aspects would a

don’t have the skills to give away ice water in the Sahara!

OK, as we look at just the numbers, you can reach your goal of $140,000 of take home pay by doubling one of a couple of puny numbers.

> You c

dd to the challenges in developing combination products:

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

n learn how to double the number of appointments you get from your dials, so you get 2 appointments out of every 10 dials.

> You can learn how to double the number of sales you close, and make sure you g

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

t business from 2 out of every 2 people you meet with.

Hmm. Makes you pause and think doesn’t it?

Here’s a bonus tip for you …

As we closely scrutinize where these numbers come from, we might even find

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

that if you changed the level of your approach call, you could do even better! Imagine what would happen to your sales if you added a few executive-level sales calls to the mix and spent your time talkin’

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

to The Top Dogs with unlimited ability to sign off on big deals!

Makes the goal of doubling your salary next year seem possible, doesn’t it?

In brief, you can double your income by learning how to:

1.

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

Professional from academic institutions, pharmaceutical industries, health care indust

Double the appointments you get from your dials
2. Double the sales you close during appointments
3. Double the size of your sales as you elevate the level of your point of entry … and talk to “

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

he Top Dogs” first

So, next time you’re tempted to skim over the puny numbers in favor of the big round ones, slow yourself down, and take a close look at those little guys.

Determine where you want to

.

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

ocus your efforts to double your income. Do you want to double your call/appointment ratios; double your closing ratios; or elevate your prospecting calls to the top decision makers?

If you take the time

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

Companies that provide selfless information through particip

to think, really think about these numbers, you’ll be amazed to find that doubling your take home pay in 2006 is much, much closer than you think!

Forward this article to friends—they’ll thank you for it

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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What are your thoughts about NLP? Are you curious about how it might work for you and your organisation? Have you had bad experiences of it and NLP'rs? This article gives you some ideas about how it might work in a measured way rather than claiming it is the answer to all things!

It is a common trait in today's fast paced market that organisational growth can happen in rapid, large bursts. Being able to effectively manage your business during times of crucial development plays a very important role in shaping your future prospects. Human Resources, by the very nature of the phrase itself, is one of the most integral parts of which a business or organisation is made up. In times of growth, both large and small enterprises need to be able to focus on their business strategies rather than being hampered down with issues on how to develop and maintain a supporting infrastructure for such growth. In cases where your entrepreneurial endeavour was once a solo act, you might suddenly find yourself in the situation where you have to hire additional staff members to help manage your workload. Having to deal with this new growth and the added pressure of HR engagements can prove to be unnecessarily time consuming. In medium to large enterprises, where human resources tend to become decentralised, a restructuring and upgrading of HR management might prove to be beneficial to the streamlined growth of the company. It is in cases such as these that the option of outsourcing Human Resource management becomes a viable, if not necessary option to the effective and healthy development of a company.

When was the last time you thought about what you were actually saying to potential clients?

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