Advice You - Business

Will you do just about anything, including sending out hundreds of letters, to avoid making cold calls to your potential customers/prospects? If so, you're not alone. Millions like you have started their own businesses, only to

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

find that the thought of making calls to potential customers/prospects leaves them paralyzed with anxiety. Believe me I was one of them. For those of you who know us and have read "Who Makes It Happen", remember what I used to

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

Examples of combination products may in

go through before I would get on the telephone to cold call.

However, as an business owner/entrepreneur, the telephone is one of the single most important tools at your command. The key to getting over your hesitation is to

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

stop thinking about your call as a sales pitch, and instead begin practicing "consultative selling." This means uncovering and filling needs in a friendly, supportive way. For those in lease purchase this is very conducive. We

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

are helping buyers and sellers.

So for those of you in other types of businesses, before you ever pick up the telephone to contact a potential customer/prospect, ask yourself, "What does my potential customer/prospect need

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

Combination pro

rom me, and what does my company have to offer that will help this potential customer/prospect get what he wants?" Then set a goal for your call that will move the potential customer/prospect closer to a buying decision, such a

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

gaining an appointment or preparing a price quote.

According to business owners/entrepreneurs in all types of businesses, one of the biggest reasons they hesitate to prospect by telephone is they're unsure of what they sho

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

uld say at the outset. A short, three-part opener, including an introduction of yourself and your company and an opening benefit is the best way to start.

When introducing your company, be sure you can describe what you do i

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

just a short phrase: "This is Susan DeFiore, of DeFiore Enterprises. We are lease purchase consultants." Now mention the benefit: "We can move your home in 30 days or less with the lease purchase advantage." By stating your be

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

efit clearly in your opener, you give the person a good reason to listen further.

Effective telephone contact is made up of two components: Asking good questions and listening carefully to the answers. Ask questions to qual

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

fy prospects and overcome objections. Again, for those of us in lease purchasing, we use our telephone script to obtain all the information we need.

There are two types of questions: closed-ended and open-ended. Closed-ended

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

Following aspects would a

questions are fact-finders. They can be answered with a fact, a "yes" or a "no". An example of a closed-ended question is: "Would Lease Purchasing work for you?"

Open-ended questions are used to draw someone into a convers

dd to the challenges in developing combination products:

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

tion. They reveal the emotion behind the facts. "What do you like best about your home?" is an example of an open-ended question.

So plan in advance the types of questions you'll ask prospects. Do this even before you get on

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

the telephone. If you can, practice on friends or family. Get their input. Then be sure to record your information in a "call report" for future use. Your call report should include the prospect's contact data, answers to impor

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

tant questions and details on the steps you plan to take.

If you find out your potential customer/prospect is already using one of your competitors, rather than hanging up or ending the conversation realize that this indica

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

es to you this individual is a qualified potential customer/prospect. They are already using this type of service. At this point you need to point out to the potential customer/prospect the benefits of working with you, and how

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

Professional from academic institutions, pharmaceutical industries, health care indust

you will make the switch worthwhile.

Let's say the seller is with a Realtor. Suppose you could still have your home listed, while we find a tenant/buyer for your home.

After your potential customer/prospect has answered

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

your questions, it's time to close. You've asked good questions, listened carefully and provided benefit-oriented information. Now ask for what you want. In lease purchasing, "When can we set up a meeting so we can start the l

.

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

ase purchase process?"

If you can't meet your original goal, state what you will do, such as send the prospect more information and keep in touch. Then be sure to follow through. If the individual doesn't want to do a lease

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

Companies that provide selfless information through particip

urchase, send out your follow up information.

Relax and follow these steps. With a little bit of practice, you'll find the telephone to be a powerful ally in building your new business.

Copyright DeFiore Enterprises 200

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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As globalization continues and competition becomes ultra-fierce, now more than ever, it’s important that your company is constantly assessing and reassessing its go-to-market strategy. This strategic marketing function is something that companies often believe that they do well, but the reality is that many firms don’t have the resources in-house to do it at all.

Whether you're bargaining in your favorite antique store, negotiating for an increase in pay, or trying to get the rock-bottom price for a new car, you'll do better if you use a technique that negotiators call Bracketing. This means that your initial proposal should be an equal distance on the other side of your objective as their proposal.

It's all about who you know. We've all heard that before. Well, in business, it is absolutely true! This article helps you better manage the relationships you have with the people you meet, and can help you generate new business!

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Advice You - Warming Up To Cold Calls

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