Useful Advices - Business

The goal to increase sales is within the majority of all strategic plans. Sales skill sets need to keep pace with this high-tech and global economy. Th

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

is is probably one reason why sales education and training are so prevalent from the Internet to business journals.

If you as a small business owner or

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

Examples of combination products may in

orporate executive are looking fcr some sales education and training, there are 3 simple factors that need to be considered. These are money, time and r

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

sults. Each factor needs to be reviewed separately and collectively to determine the best sales training solution to increase your sales. Remember: Any

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

decision needs to be aligned to the short and long term goals within your strategic plan.

Money: Much of the sales training ranges from

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

Combination pro

the half day (4 hours), $50 seminars to the off site 3 day (18 hours) $1,500 workshops to the onsite 5 day (30 hour) or 10 weekly 3 hour sessions for $2

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

000.

Time: Is the time invested enough for the results desired? As a former corporate salesperson and now a business coach, I am continu

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

lly surprised that management believes a 4 hour seminar to an 18 3 day workshop will change 10 to 30 years of previous experiences.

Results:

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

/b> What results do you desire from the sales education and training? This is the desired end and should be weighted more than the other 2 factors.

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

For example, local half day or full day workshops provide an opportunity to get to know the sales training provider unless it is a national semi

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

ar series. The lower investments of $50 to $200 allow the participants to determine if this sales training information and approach works for them and f

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

Following aspects would a

r their businesses. However, this solution may not be viable if you are seeking sustainable results or have other issues such as multiple locations in d

dd to the challenges in developing combination products:

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

fferent states.

Off site 3 day workshops may provide a lot of content and may be delivered by exceptional trainers or facilitators. However, is the goa

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

l content or retention? Research suggests multiple exposures to the same learning objective increase cognitive retention up to at least 60%. One time ex

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

osure (traditional sales training) to that same learning objective reduces long term retention to just 2% after 16 days.

Weekly 2 hour to 3 hour long tr

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

ining sessions delivered over the course of 10 to 12 weeks (non-traditional training) strengthen cognitive retention and performance improvement by allow

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

Professional from academic institutions, pharmaceutical industries, health care indust

ng opportunities for practice between sessions. These sessions should also be aligned to your strategic plan and should include ongoing reinforcement su

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

ch as executive coaching.

Only after reviewing all factors separately and together can you as a business owner, entrepreneur or corporate executive trul

.

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

determine the best cost. Remember the best cost should deliver the highest return on investment and be sustainable so that you will not have to experie

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

Companies that provide selfless information through particip

ce those frequent and expensive re-dos that drain your K.A.S.H. Box for Sustainable Change.

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 - What Should Your Sales Training Cost in Terms of Money, Time and Results?

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