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Digg It - The 6 Power-Steps To Networking For New Prospects
Prospecting is one of the key success factors in sales. If you’re great at closing and presenting, but lousy at finding the right people to sell to, it will hold you back.
Question: If you were going to open a new restaurant in town, what is the one thing you would want most? If you are thinking a great chef, some wonderful recipes, a fantastic location or a great name, I cannot guarantee y
Question: If you were going to open a new restaurant in town, what is the one thing you would want most? If you are thinking a great chef, some wonderful recipes, a fantastic location or a great name, I cannot guarantee y
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
our success. Marketing guru, Gary Halbert, says a starving crowd. In other words, it’s no good selling good stuff if you can’t find good people to sell it to!
Two of the most overlooked ways to find your starving crown are networking and generating referrals. In this first of two articles, we will unlock the power of networking to find new business. Next time, I’ll show you the two reasons
Two of the most overlooked ways to find your starving crown are networking and generating referrals. In this first of two articles, we will unlock the power of networking to find new business. Next time, I’ll show you the two reasons
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
you don’t get referrals and how to ensure you generate streams of high quality leads from the people who already know and trust you – your clients, customers and contacts.
So let’s demystify this whole networking thing. This is networking in six easy steps:
1) Go out.
2) Meet people you don’t know.
3) Talk a little and listen a lot.
4) Learn what they do, who they know and what they ne
So let’s demystify this whole networking thing. This is networking in six easy steps:
1) Go out.
2) Meet people you don’t know.
3) Talk a little and listen a lot.
4) Learn what they do, who they know and what they ne
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ed.
5) Keep in touch.
6) Sell to them or their contacts at the appropriate time.
The problem is that most professionals are very good at what they do, but struggle to market themselves in very competitive arenas. While many have a rough idea how to network effectively, few are comfortable with it, and even fewer have been properly trained to put together a strategic plan of action to make
5) Keep in touch.
6) Sell to them or their contacts at the appropriate time.
The problem is that most professionals are very good at what they do, but struggle to market themselves in very competitive arenas. While many have a rough idea how to network effectively, few are comfortable with it, and even fewer have been properly trained to put together a strategic plan of action to make
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
the most of what is still premium, ‘non-fee-earning’ time. Networking is simply talking and listening in a way that builds relationships as a bridge to future business. Good networkers come in all shapes, sizes and personality types. They do the simple things well and the natural things better than most. And it’s all coachable.
Your prospects are out there, but to them you’re still the bes
Your prospects are out there, but to them you’re still the bes
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
kept secret in the world. They won’t do business with you, or introduce you to their contacts unless they know you. To do that, you need to get out there to the right events, meet the right people, say the right things and follow up in the right way. If you’re still inhibited, simply think of it this way. All the money you will ever earn is right now sat in someone else’s pocket! So let’s
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
get it out of theirs and into yours with the seven keys to perfect networking;
The Right Attitude
Networking is not selling, although they both go in your financial engine. We just put them in separate containers. It’s simply talking and listening, and building relationships. As my mentor, Will Kintish, taught me, it’s about Knowing, Liking and Trusting. In that respect, it’s a numbers gam
The Right Attitude
Networking is not selling, although they both go in your financial engine. We just put them in separate containers. It’s simply talking and listening, and building relationships. As my mentor, Will Kintish, taught me, it’s about Knowing, Liking and Trusting. In that respect, it’s a numbers gam
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
e. The more people you get out there and meet, the greater number of people will like you and therefore trust you. It’s important, also, to be confident, expectant and professional.
You do that by preparing!
The Right Preparation
Going to business events is one thing. Sourcing the best events for the right reasons is something few networkers do. Many people flounder in networking because
You do that by preparing!
The Right Preparation
Going to business events is one thing. Sourcing the best events for the right reasons is something few networkers do. Many people flounder in networking because
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
they go to the wrong events. You must be choosy where and when to spend your valuable time. There’s nothing worse than wasting time ‘net-eating’ and ‘net-drinking’ with nothing to show for it. Events take many forms, from regular clubs to one off annual events and dinners, from seminars and conferences to exhibitions and expos, from informal social and leisure gatherings to impromptu connec
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
tions in planes, trains and queues. I have identified four types of networking events depending on what you want;
Business Development (many of your prospects, a large proportion of your target market, a collection of people that could use what you do).
Contact Development (lots of your fellow professionals, peers, coaches, trainers, consultants, key suppliers and advisers that won’t buy f
Business Development (many of your prospects, a large proportion of your target market, a collection of people that could use what you do).
Contact Development (lots of your fellow professionals, peers, coaches, trainers, consultants, key suppliers and advisers that won’t buy f
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
om you but can help you save money, cut costs and be better at what you do).
Referral Development (connectors, introducers, key professionals, people in other fields that won’t buy from you but are connected to people that might and could introduce you or refer you).
Professional Development (featuring great speakers, gurus, experts, presentations, seminars or key educational input to take
Referral Development (connectors, introducers, key professionals, people in other fields that won’t buy from you but are connected to people that might and could introduce you or refer you).
Professional Development (featuring great speakers, gurus, experts, presentations, seminars or key educational input to take
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
you to the next level)
Many events have a mixture of all four. It’s your precious time. If you’re in prospecting mode, go where the people are that you want to meet!
The Right Impressions
First impressions are like a jelly – they set very fast! When you meet people, they decide two things pretty quickly; whether they like you and whether they rate you. There are three steps to making tho
Many events have a mixture of all four. It’s your precious time. If you’re in prospecting mode, go where the people are that you want to meet!
The Right Impressions
First impressions are like a jelly – they set very fast! When you meet people, they decide two things pretty quickly; whether they like you and whether they rate you. There are three steps to making tho
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
se happen favourably;
Be confident and expectant when you approach people. They don’t go there for solitude – they want to talk to people just like you!
Spotlight or floodlight network. Spotlighting is looking at a delegate list, deciding which people you would like to talk to and asking the host to introduce you. This is my preferred method of networking. I look for companies or individua
Be confident and expectant when you approach people. They don’t go there for solitude – they want to talk to people just like you!
Spotlight or floodlight network. Spotlighting is looking at a delegate list, deciding which people you would like to talk to and asking the host to introduce you. This is my preferred method of networking. I look for companies or individua
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
ls I’d like to build a relationship with and simply broker an introduction! Floodlighting is simply looking for people stood alone or in open twos and threes. These are always the most welcoming.
Be polite and warm. A smile, good eye contact, a simple ‘do you mind if I join you?’ and a good handshake makes it almost impossible to make a bad impression!
The Right Conversations
Small talk i
Be polite and warm. A smile, good eye contact, a simple ‘do you mind if I join you?’ and a good handshake makes it almost impossible to make a bad impression!
The Right Conversations
Small talk i
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
s big business. It builds rapport and gives you permission to take things to the next level. You can then move onto what I call BPQ’s (Business Personal Questions) such as what they do, their role in the company, their personal goals and challenges. Finally you can ask BBQ’s (Business Business Questions) such as their challenges, their customers, their needs and their projects. That way you
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
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
an find out where they’re hurting and how you might be able to help.
The Right Execution
If you want to fully utilise your time there, you must move around the room and disengage appropriately. Many people struggle with this, which stops them from networking. Simply use food, drink or a third party to either excuse yourself or take them with you. Keeping things fluid means you’ll bump int
The Right Execution
If you want to fully utilise your time there, you must move around the room and disengage appropriately. Many people struggle with this, which stops them from networking. Simply use food, drink or a third party to either excuse yourself or take them with you. Keeping things fluid means you’ll bump int
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
o others and ensure things don’t go stale with the conversation.
The Right Close
When you spot an opportunity, it’s both reasonable and expected to ask for two things; their business card and permission to call them. It’s important not to ‘hard sell’ here. Remember they have chatted with you for a few minutes, they like you and are probably going to be happy you phoning them.
The Right F
The Right Close
When you spot an opportunity, it’s both reasonable and expected to ask for two things; their business card and permission to call them. It’s important not to ‘hard sell’ here. Remember they have chatted with you for a few minutes, they like you and are probably going to be happy you phoning them.
The Right F
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ollow Up
Remember you’re still not selling. You want a meeting from that call, some quality one to one time. At the very least you want a good ten mins on the phone to find out more. That’s when you can think about presenting and closing. Bear in mind that you could be the right idea at the wrong time – they might want you but not yet. They could have existing providers/advisers in place.
Remember you’re still not selling. You want a meeting from that call, some quality one to one time. At the very least you want a good ten mins on the phone to find out more. That’s when you can think about presenting and closing. Bear in mind that you could be the right idea at the wrong time – they might want you but not yet. They could have existing providers/advisers in place.
.
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
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
They might not be the decision maker. As expert networker Will Kintish told me, be persistent and not a pest. Whatever happens, if you feel you could help them, if you feel they’re better off having your product or service than not and if you feel your product or service is fairly-priced, then you have a moral obligation to get it into their hands! So keep in touch throughout the next few
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
weeks and months turning that business card into a sale. Things change in business, and Gary Outrageous once told me, when the wheel falls off their wagon, you want to be the spare wheel that fits just right. You want to be in prime position to help. You want to be front of mind. If you’ve built up a ‘giving relationship’ outside the transaction, naturally they’re going to think of you first
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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