Main Subject - Business

One of the toughest parts about owning a business and more specifically, being in sales, is handling rejection. Some may find that day after day, knocking on doors and calling

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

prospects blindly is a tough pill to swallow. What makes this pill even larger is the inevitable fact that most of the people you come in contact with will be telling you "NO!"

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

Examples of combination products may in

If you've had the feeling of your heart sinking into your stomach, you are not alone. Over the years, I have been on thousands of sales calls and have certainly lost my fair s

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

hare. The disturbing part wasn't necessarily the lost sale, but the way I felt afterward. My ego was damaged and I didn't want to speak to anybody. The mere thought of the loss

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

sickened me, and I'm an OPTOMIST! Was there something wrong with me? Why was this happening?

Top sales people understand a simple truth about selling their products and servi

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

Combination pro

es. They will not be a fit for everyone. This point is a critical factor in eliminating your feelings of rejection on a sales call. An important part of handling rejection is 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 realization that the prospect's decision not to buy is typically not personal, but just business. The best way to look at this is to track your activity and see what your se

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

lling statistics really are. Are you closing 1 in 10 appointments or 5 in 10? By knowing this, you can turn those ratios to your positive advantage. For example, if your ratio

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

is 2 sales out of 10 closing appointments in a week, that means that 8 prospects decided not to buy. That's okay because you NEEDED the 8 "no's," to earn your 2 sales. Without

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

those 8 "no's" you wouldn't have received the 2 "yes's." The multiple sales that you think you "lost" were actually just stepping stones to take you closer to the WINS you earn

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

d. Now, think about a word I just used a second ago, "lost." Isn't it interesting that we feel like we've lost something, when the fact is we never had anything to begin with.

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

Following aspects would a

How can you lose a sale if you never had it to start?

Another key factor to effectively handling rejection is to change your attitude about the word "NO." Most of my clients g

dd to the challenges in developing combination products:

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

o into shock initially when they hear my philosophy because it's contrary to most sales training seminars they have attended. Simply put, getting your prospect to a "NO," is a

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

GOOD thing. Read the last sentence again if you don't believe that I said it… There are 4 key qualifications to getting a prospect quickly to a "NO," in the world of sales:

1.

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

If they don't have a need or compelling reason to utilize your products or service
2. If they aren't committed to fixing the problem
3. If they aren't the actual dec

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

sion maker
4. If they aren't willing and able to invest in your solution

If you really think about your last few business deals that ended in a "NO," they probably weren'

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

Professional from academic institutions, pharmaceutical industries, health care indust

t qualified to work with you in the first place. I teach my clients to strongly qualify each prospect and to actually push them to a "NO." The word "NO" should actually empower

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

us as sellers to move on emotionally, while saving us time and money by not continuing a pointless cat and mouse game.

Your current attitude and philosophy towards rejection

.

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

and hearing the word "NO" could be a huge determent in building a successful business. Use the pointers discussed in this article and truly commit yourself to changing your way

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

Companies that provide selfless information through particip

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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