Advice You - Business

What do you think of when you hear the word blister? My thoughts turn to poor preparation and the reason for this sales lesson. I have a blister from ign

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

oring the basics of hiking. A Blister is a painful lesson for anything that comes your way.

We were in Tucson, Arizona staying with friends. We talked a

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

Examples of combination products may in

out their community pool the night before. Early morning I grabbed a water bottle, cell phone, and hat and walked out the door in a t-shirt and swim trun

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

s. I calculated that a 15 minute walk to the pool would be a refreshing morning adventure. The sandals I wore were the same ones that took me on a long h

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

ike in Hawaii a few years ago. Deciding a map of the community wasn't needed, I started my trek. Soon, everything started to look the same and I was lost

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

Combination pro

My feet grew tired of the journey and the pool that should have been there, must have moved. As the sun rose, the heat began to take its toll on my ill

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

repared feet and the fun journey became a blistering challenge.

I never reached the pool and realized that one right turn sealed my fate of walking in a

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

big circle. Ultimately, the 15 minute walk became a 2 hour hike that blistered my feet.

Not having a map sealed my fate of never reaching my de

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

tination.

Not having the right footwear for the right terrain created blisters.

Not preparing for a longer walk made the hike a losing pr

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

position.

The Key To Success Is Preparing For Opportunity

As a salesperson let's hope you never develop sa

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

es blisters from stupid mistakes like mine. When hiking or selling, going out the door with all the right gear is preparing for success. The blisters I e

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

Following aspects would a

arned were not fun. It was simply stupid for not following the basics of hiking. I know better because, I've hiked the desert many times and know what to

dd to the challenges in developing combination products:

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

prepare for. Here are a few tips to prevent selling blisters from developing.

Travel With A Map - The Selling Process When visiting an

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

prospect, the selling process keeps you on the right trail. Knowing where you are in the selling process helps with asking the right questions and uncov

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

ering the opportunities of the visit.

Take The Right Gear - Sales Tools Hiking the desert with sandals designed for Hawaii is dumb. Wh

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

n a salesperson doesn't bring the right sales presentation gear for every situation, they are also dumb. We never know what questions will come up and if

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

Professional from academic institutions, pharmaceutical industries, health care indust

we bring what we need for a sales visit, we shorten the selling process.

Prepare For Any Length Journey I should have prepared for a l

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

ong walk just as salespeople should prepare for longer sales cycles with a plan of action. Most salespeople are only prepared for quick sales opportuniti

.

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

s. Prospects that aren't ready to purchase right now are lost without a follow-up plan. When a business has a sales action plan for a longer sales cycle,

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

Companies that provide selfless information through particip

more sales will be won.

I hope you learn from my blister and map out success in selling with the right gear and prepare for anything that comes your way

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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Q: I have outgrown my home office and need to find office space for me and two part time employees. I am really excited about opening my first official office, but never having rented commercial space before I don't know anything about how this process works. What are some things I should consider before signing a lease? I'm really eager to get started! -- Jay P.

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