I Suggest - Business

"Salespeople spend 79 percent of their time doing things other than selling or prospecting. The actual time spent selling averages 11 per cent." Source: Sales and Marketing Managem

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

ent

I was blown away when I read this statistic.

How many people today, regardless of profession, can use 11 per cent of their capacity and survive? Perhaps this explains the hig

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

Examples of combination products may in

h mortality rate in the sale arena where we do battle every day. This number screams complacency to me. Actually, I might give complacency higher credit, maybe 20 percent.

Anyone

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

who has worked in a sales environment knows the challenges one faces in keeping the shoulder to the grindstone. Sales is a very tough profession, especially a commissioned environ

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

ment. You don't produce you don't get paid. It is a black and white scorecard. You can't bank talk or laziness, and you certainly can not buy groceries with either.

So how is it s

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

Combination pro

lespeople are spending only 11 per cent of their time on the tasks critical to their success? Some will be quick to say the remaining 79 per cent is taken up with administrative ta

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

sks, paper work, chasing down orders, providing customer service, and the list goes on and on. If you can hear yourself saying this, my suggestion is for you to get in front of a m

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

irror and look in it. Ask yourself, "Is my workday appropriately filled with tasks that will provide the income and recognition I seek?" My guess is if you look yourself in the eye

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

, the true answer is no. Time mysteriously is filled doing other "stuff".

So what does this other stuff look like? Is it having a coffee with other 11 per centers? Is it sneaking

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

in that "last" game of free cell? Is it worrying about what the sales quota is looking like for the month? Is it comparing excuses for why the business is not there? If so, then s

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

ap out of it.

Only you can control your actions. The first thing you need to do is to get in the game mentally. Are you telling yourself you can be more successful or are you wall

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

Following aspects would a

owing in self-doubt? Do you believe in yourself? Do you believe in your product? Do you believe in your customers?

Have you created a plan, one that sets a goal with supporting ob

dd to the challenges in developing combination products:

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

jectives that are measurable and realistic? Have you the discipline to ensure you are doing the necessary activities that will ensure your success? The prospecting, networking, rel

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

ationship building that top performing salespeople do consistently.

Have you identified where your time is going? If not, create a time log for a week or two and keep track of wha

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

t you are doing by the half hour throughout the day. You might surprise yourself when you find the time spent on selling and prospecting is only 11 per cent.

Once you have analyse

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

the problem you are well on your way to finding a solution. Imagine if you could increase your productivity two fold. What impact would that have on your income? What if you could

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

Professional from academic institutions, pharmaceutical industries, health care indust

increase four fold, and don't think you can't! When you begin to think success, your actions will support you on the path to success.

Before discounting this article or the 11 pe

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

r cent number, take a good look at the top sales professionals in your company. What percentage of their time is spent selling and prospecting? What are they doing different from

.

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

you? What can you learn from them? Where is their mindset? Are they positive, optimistic and disciplined in how they approach their day?

Make the effort to get a fix on where you

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

Companies that provide selfless information through particip

are spending your time. Ask yourself, "Is what I am doing right now, the best use of my time?" Then you need to be honest with yourself when you answer. Good luck and good selling

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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