Useful Advices - Business

First and foremost, the very first thing you need develop in sales and negations is your confidence.

But be aware of the fools sense of confidence which plagues most salesmen, and that is the confidence which is based

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

totally on bravado.

Let me explain!

Say you are a physically confident person. You would most likely tell yourself that you could cruise through life and be in total control of any aggressive situation, but when you’r

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

Examples of combination products may in

e put into a situation where you’re confronted by someone who’s a lot more intellectual than you are, (and I’ve seen this happen to people), all of a sudden your confidence is taken away. It has nothing to do with your

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

strengths, it has to do with your weaknesses, and all of a sudden your confidence isn’t there anymore. When people have a weakness, and someone exposes that weakness, you lose total confidence.

Confidence isn’t somethi

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

ng that you can just label based on a few things. Developing total confidence is a fairly complex subject, and it covers all areas of your life, not just simply the one or two areas that you are already convinced that

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

Combination pro

you do have confidence in. It’s all about developing the confidence you need in the areas you are weakest and the areas in which you intend to apply yourself in.

Imagine a boxer that was getting hit a lot because he ke

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

pt dropping his hands. Straight away his coach would say he needs to keep his hands up and that will stop him getting hit so much. He does this, it works, and now he has more confidence. But what if he had no one to tel

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

l him. What do you think would happen to his confidence? Either he will become tougher so that he can take more hits or quit all together, both are a losing situation to be in. So you need a mentor or coach to make sur

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

e you develop your confidence the right way.

So what are the right confidences? There are a few, but today I will be discussing technical confidence.

First of all you need to stay in one particular industry and learn

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

as much about that particular industry as possible, so that you can build your technical confidence. Some people think that sales is about going out and faking your way through it with good looks and tricks. What I adv

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

se is that you get into a sales career in an industry that you can see a future in, and something that you will love and enjoy talking to clients or potential customers about, and, stick to it. Put in the time to develo

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

Following aspects would a

p your technical confidence.

Developing confidence in sales at the top level is going to be done over a couple of years. This is not just a fly by night sort of thing that you should be doing to fill in time. Success i

dd to the challenges in developing combination products:

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

s something that has to be developed.

So get into an industry that you have a passion for.

Remember you are going to have to sit down one on one with a client and no matter what they ask you, you are going to have to

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

be able to clearly and precisely answer their questions and do it fluently and without hesitation. As the saying goes, “he who hesitates is lost”, is very true when applied to sales. People pick up on hesitation and s

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

ee it as being a weakness, and this is where you find you will lose most of your sales. You need to make sure that you have the knowledge to answer somebody’s questions or fulfill their needs and actually give them all

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

the right information in a very controlled and confident manner so that they can make an informed decision.

So you’ve got to be totally fluent in your knowledge and language of the industry that you are in, and you’ve

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

Professional from academic institutions, pharmaceutical industries, health care indust

got to know your industry extremely well.

If you’re selling a particular product such as a motor vehicle, then you better know everything, not just about that vehicle, but also about the oppositions vehicles in the sa

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

me price range that offer the same type of things. You’ve got to know the strengths and weaknesses of your opposition’s products. That’s one step towards gaining technical confidence.

Your mission for this week is 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

go out and start learning as much about your particular field as possible. Learn the terminology, the slang, the technology and the results of that technology and this will dramatically improve your technical confiden

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

Companies that provide selfless information through particip

ce and this will show in your sales performance.

But remember, there are no short cuts, and what you have learned here today is only the first small step of many to becoming a successful salesperson.

To be continued..

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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