Advice You - Business

I have found that there are two best ways to eliminate your fear or resistance to sales. First, become so familiar with your product/service and any objections that might surfac

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

e, that you simply can’t be flustered during a sales call. Second, you need to truly believe that your product or service will be of value to your customers – that you’re really

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

Examples of combination products may in

helping them by sharing your product with them.

The next most important step is to make sure you’re selling to the right people. Set an appropriate target market and find out

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

where they are. Make sure your sales pitch and sales materials speak to that target market.

By approaching your prospective customers with this approach, they will sense your c

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

onfidence, which in turn gives them the confidence that you are true to your word.

Often, service businesses struggle more with the sales process since the results and benefits

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

Combination pro

can be very difficult to articulate. I’ll use my coaching business as an example.

When I first started, I had not identified a target market, and could not clearly articulate t

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

he benefits of coaching with me. Most of my advertising and marketing attempts were lost in the multitude of messages everyone sees and hears every day. Now that I have some ex

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

perience (and a LOT more marketing education) I understand the importance of deriving the overt benefits of coaching with me.

However, that alone will not get me clients. I als

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

o needed to identify a target – my ideal client. I often hear from coaches and other service professionals that they don’t want to eliminate a large majority of the marketplace

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

by focusing on a niche. The truth is, when you send out a generic marketing message, no matter in what form, you’re not making a connection with anyone. People see and hear hun

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

dreds of marketing messages every day – you need to make that emotional connection with someone.

My target is women entrepreneurs – specifically women entrepreneurs whose busine

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

Following aspects would a

sses are doing ok, but they’re not happy for some reason. Imagine an attorney who had so many clients that she needed to hire additional lawyers and an administrative assistant.

dd to the challenges in developing combination products:

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

At that point, she would be spending her time maintaining sales, minimizing expenses, managing employees, keeping up to date on the newest laws, trends, markets and regulations

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

, etc. This does not sound fun! That is the client I want, specifically. By painting you this mental picture, you have a clear idea of my ideal client. You may see yourself i

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

n the picture and you may know her and refer her to me.

Setting a target does not exclude other types of clients, but if my messages don’t reach anyone, I’ll have NO clients, or

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

will have to work much, much harder to get each one. Besides, the example client above knows lots of other people who aren’t attorneys who could benefit from my services, and I

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

Professional from academic institutions, pharmaceutical industries, health care indust

will ask her to refer me to them.

By going through the steps above, you will want to talk with people about your product, as you know you can answer any question and you will f

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

eel you owe it to your target market to share your product with them. If you need help with this process, a book that has really helped me is “Jump Start Your Business Brain” by

.

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

Doug Hall. Or you can short-cut and call me to walk you through the steps.

After eliminating your resistance, you will then need a plan of action to contact the individuals in

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

Companies that provide selfless information through particip

your target market, and scripts to know what to say. Sales is simply a numbers game. The more people you contact, the more people who will say yes. Now get out there and sell

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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With step-by-step guidelines and accompanying examples of policies, procedures, training program, and employee survey, an effective tool provides an excellent road map for implementing an ethics and compliance initiative.

Media means different things depending on how you are marketing your business. Media could be newspapers, magazines, radio, or TV. Media is also many more things. To influence businesses to buy your products or services, you need to have a media arsenal.

The fresher the lead, the better the quality, so it makes sense that Real-Time mortgage leads are the hottest they come. Think about it, mortgage borrowers looking to refinance or do some home improvements find a broker that is looking to give them a great rate, perfect match?

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Advice You - Get Over Your Resistance to Sales

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