Main Subject - Business

I receive e-mails on a regular basis from people who state that cold calling is working perfectly well for them and that they’ve become quite successful by it. That's fine

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

- as I've always said, if it works for you, then keep doing it. My materials are for people who either are not getting results from cold calling, or who simply do not enjo

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

Examples of combination products may in

y it and do not want to do it anymore.

If you feel that cold calling is working just fine for you, this chapter is for you. The problem with being satisfied with the re

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

sults of cold calling is that you fail to see cold calling’s biggest flaw and why it imposes strict limitations on your sales production.

Here’s something to think abo

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

ut. Even if cold calling is working for you, you're failing to use the amazing power of LEVERAGE to your advantage. What I'm getting at is the fact that as a cold calle

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

Combination pro

r, you can only make one call at a time or knock on one door at a time. Add into that the fact that you must also fit appointments and other work such as generating pro

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

posals into every business day, and your ability to make a large number of quality cold calls diminishes rapidly.

Here’s the pattern I typically see – and that I experie

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

nced myself – with people who rely on cold calling for generating business, and who feel that it’s working for them:

Month 1: Sales are down. Most free time is spent c

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

old calling. Leads are generated and plenty of first appointments take place but the salesperson falls short of quota for the month.

Month 2: Numerous second appoint

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

ments take place and proposals are presented. The salesperson spends lots of time working to close sales and is successful. Quota achievement is far in excess of 100%

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

this month.

Month 3: The salesperson spends plenty of time on customer service issues this month, and following up with all the customers who bought last month. After

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

Following aspects would a

all, it’s normal to be busy with these issues after a huge month. By the end of the month, everything is taken care of, but sales are in the gutter and far below quot

dd to the challenges in developing combination products:

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

a this month because most time was spent taking care of all those issues, and to make matters worse, the pipeline is now empty and there are no more prospects to work

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

on. The cycle starts all over again with month 1.

As you can see, this cycle of cold-hot-cold guarantees failure and is one of the key reasons why cold calling rarely,

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

if ever, results in success. If anything, it allows salespeople to make quota every third month, barely avoid probation, and therefore keep their jobs.

By contrast,

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

systems of self-marketing allow you to use the power of LEVERAGE. Let's say you do well at cold calling and continue to make, say, 30 calls a day. What if you could put

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

Professional from academic institutions, pharmaceutical industries, health care indust

systems into place that effectively made an additional 300 calls per day while you're free to do other things? If your 30 calls per day generated one hot lead, wouldn'

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

t a system that performs the equivalent of 300 calls generate 10 hot leads in a day?

This is the power of leverage, and this is where those who rely solely on cold calli

.

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

ng are missing out. If cold calling works for you then keep it up, but doesn't it make sense to add to it and increase your number of leads exponentially? Then you'll b

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

Companies that provide selfless information through particip

e so busy with all the appointments that you really will drop cold calling after all – you won’t have time for it anymore with so many people calling you, ready to buy!

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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There’s an old curse “may you have many employees.” For many business owners, handling employee matters is the top of their list for problems.

It can be perfectly legal - and very smart - to make up your own news stories. This article will tell you exactly how to do it.

If you're not using this one powerful tool in your search, you're making a big mistake!

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