Cases - Business

If you’re a top sales or marketing professional working in the business to business technology, manufacturing, healthcare or business services industries, I’ve got some advice for you on how to best go about optimizing your career search. I’m also going to talk about the job market now and the new way of looking for great positions which or often times not advertised. I’ll also give you

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

a number of other tips and tricks regarding interviewing, r?sum? building techniques, and other useful ideas that I hope you will put to work in order to improve your ability to find that next great position that you’re thinking and dreaming about.

It’s a full employment economy

It’s no secret that the economy is fully employed right now with unemployment running less than 5% in most a

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

Examples of combination products may in

reas of the U.S. Most companies are finding that they are constrained to grow by the quality of the people that they can actually hire or recruit into their businesses. As a sales or marketing candidate, you need to recognize that times have changed. It’s a lot easier to make a move now than it was one or even two years ago, and certainly a lot easier than during the dotcom bubble back

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

in 1999-2001. It’s a great time to be looking for a job as a sales and marketing executive, midlevel manager, or front-line sales or marketing contributor. All of the top people are working and that means that companies are starved for the kind of A-level talent that they need in order to grow their businesses. This bodes well for anyone who’s thinking about making a change or is init

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

ating a new job search.

Have A Career Plan

If you’re a sales and marketing professional, you’ve worked in and around the planning process your entire career. It’s no secret that your ability to successfully deliver the numbers for your past employers has probably been predicated on having a sound strategy and knowing your plan of attack.

As you think about starting a career search, it

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

Combination pro

’s absolutely critical that you also have a personal plan related to what it is you hope to accomplish, as you look for that next great position. Lots of people enter the job market with no specific strategy other than to prepare their r?sum?, post it on all of the major job sites, and start doing some networking. In order to be effective at your job search, you need to be a lot more sy

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

stematic than that. I see sales and marketing executives come through my office on a regular basis who really don’t even know what they’re looking for. As a result of that, it’s very difficult for me to help them achieve their objectives.

Most people that you network with want to help you, but they want to know how they can help you. This is probably one of the biggest mistakes that I

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

see people make when they start a new career search: not spending time to think through what it is that they want in their next career move. Before you pick up the phone, or post a r?sum? on any career websites, or start networking with people, start by setting aside some time for yourself to do some career planning. If you need help in this area, there are plenty of career counselors a

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

nd there are also recruiting companies that help candidates to figure what it is that they want to do. There are also career guidance companies and also many great books, including What Color Is Your Parachute? which will help you go through a systematic process to figure out what it is that you want to be doing.

Sales/Marketing Career Planning Elements

What are the elements of career

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

planning that you need to be thinking about? First of all, think about the kind of industry that you want to be in, and target the industries that interest you the most. If you don’t know what they are, go out and do some research to find out which industries are booming, have the best sustainable growth, and afford the advancement opportunities that you’re looking for. Information in

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

erviewing is perfect for this.

Second, think about the size of company that you want to go to work for. This is critical. Lots of people want to go to work in startups, but the fact is that if you’ve worked in a large company all your life, the prospect of getting that first job in a startup as a vice-president of sales and marketing is probably not very good. So think about the size

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

Following aspects would a

of the company.

Third, think about the exact position that you’re looking for. I see lots of people who have done a little bit of everything, and as a result they say, “Oh I’m open to doing anything in sales and marketing.” Well that’s just not good enough. If you want help locating that next great job opportunity, you need to be able to visualize it in great detail and specify openly

dd to the challenges in developing combination products:

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

to people exactly what you’re looking for. That will give them the tools to help you go find a great job and lead you down the right path. Think also about other things like culture, compensation, geographic location (would you be willing to move or not). These are all considerations that most people really don’t give enough thought to before they initiate a career search.

If I have

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

one piece of advise for you, if you’re looking for that next great sales and marketing job, it’s to take the time to create a plan, put it on paper, create a search summary (a one page document which you can use as an accompaniment to your r?sum?) and then think about taking your show on the road. If you do this, you’ll find that a lot more people that you’re networking with will be able

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

to help you with concrete suggestions, as opposed to just sitting, listening, and empathizing with you as you think about your job search.

Great Salespeople Are In Very High Demand

Right now we have a full portfolio of clients that are desperately looking to add additional salespeople and sales management to their teams. There’s no question that the companies that are trying to grow ar

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

e constrained by the number of salespeople they employ right now and they’re all out there competing for limited resources. Why? The limited resource is the salesperson that can consistently produce results. Of course everyone who’s worked in sales says that they can produce results, but we know better. The top producers are those who can actually show objective, consistent achievemen

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

Professional from academic institutions, pharmaceutical industries, health care indust

t or overachievement of their sales quotas, month-to-month and year-to-year. These people win sales awards, President’s Club and other types of recognition, proving that they are consistent top producers. These people are in short supply in this economy and are what everyone is looking for right now.

Wages are going up, particularly base salaries, and in addition to that, the top candi

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

ates are being more choosey about which opportunities they would be willing to consider. Many people stayed in the same job through the last several years struggling along, but being forced to keep their job because the economy was not doing very well. Now, as they think about busting out and moving to the next position, they want to make sure they’re actually upgrading their career and

.

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

taking advantage of the job market to do so.

Companies that want to attract these candidates have to have a very compelling growth story, strong leadership, a strong culture, a compelling definition of the market opportunity, and competitive compensation.

If you’re a candidate and you’re thinking about making a move, it’s a great opportunity now to do so because there will be multiple

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

Companies that provide selfless information through particip

companies that are chasing you. If you’re a job seeker, the number one thing for you to think about is back to what I mentioned previously: career planning. Make sure you really understand both the hard and the soft criteria which you will use to evaluate any opportunity, and really focus in on building a plan that pinpoints what it is that you want to be doing in your next career move

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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