Pharma Boot Camp

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So far the launch of PharmaBootCamp has been a COMPLETE SUCESSS!

We would personally like to thank all of our customers and wish everybody new found success in healthcare sales!

Since February 2008 we’ve received hundreds of testimonials from customers who’ve purchased our book, “The Unfair Advantage” and all we have to say is that we are TOTALLY OVERWHELMED by the feedback. Nearly all of our customers have landed job in pharmaceutical sales. We are elated!

O.K. It’s been awhile since I’ve updated this blog, and by now you’re probably wondering what’s next for PharmaBootCamp.com?

Well readers stay tuned… we have some BIG NEWS coming up that you won’t want to miss!

Cheers,

The PharmaBootCamp Crew

After the much anticipated launch date, “The Unfair Advantage” by Pharma Boot Camp is finally available.

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www.PharmaBootCamp.com 

In today’s ultra-competitive market one of the biggest challenges drug reps face is physician access. Even representatives that have been working their territories for one, even two years struggle with this very obstacle.

This is the second article in a new series geared towards helping pharmaceutical reps build value and gain face time with their top 10 “no-see” docs…

If the following information is used properly, it can help any rep can earn a few extra thousand dollars each week. The best part is, is that if you’re making money by using this strategy, you will be MOVING MASSIVE MARKET SHARE putting even MORE MONEY IN YOUR POCKET.

There are a handful of reps in Southern California that are pulling down an extra 20k-30k per year just by doing simple favors for physicians… After all, it is your job to know exactly what your clients need… In addition, you’ll be blowing out your quota with massive volume increases- just by providing a value-added service, and getting paid for doing it!!!

Even better, no company or industry expense regulations are violated. GAME ON!!!

What you’ll need to do:

• Partner with 2 to 3 credible local real estate brokers. Make sure one doesn’t know about the other…
  • Consider partnering with a commercial real estate agent. Commercial agents are great for bigger investment opportunities like TICs, Triple Net Leases, and LPs. Usually a minimum $25k investment.
• Partner with an ambitious financial advisor, make sure he or she has obtained their CFP (certified financial planner) license. Go to a well known firm like Merrill Lynch or a even bank-owned firm like Wells Fargo. Don’t be afraid to ask around.
• You will need to draw up a contract for each partnership you create to ensure you receive a referral fee.
  • Avoid any non-compete clauses, that way you can work with whomever you want!
• Go to Gmail and create a new email address. This allows your contacts to keep you in loop with new projects and investment ideas without sending the details through your corporate email. Avoid a conflict of interest with your company.

How to develop your network:

• Step 1: Do some research on Google and dig up the names of local real estate brokers and financial planners. Call a few of them and introduce yourself. Tell them where you work, what you do and how many physicians you see daily. Ask them a few questions; screen them- see what they’re about. Set up lunch with the ones that offer the strongest potential, and convey a natural energy level over the phone or in person (this is very important).
• Step 2: You need to set up your referral fees and create a binding contract ASAP. Working as a middle-man can get sticky at times. Make sure none of your prospects slip through your fingers and go right to the source without you knowing. A good sales person knows how to make this work… communicate early and often!!!
• Step 3: Go to Nolo Law for “Consulting and Contracting” contracts. Even better, visit your local Borders or Barnes and Noble and buy the book. Write up your custom proposal in MS Word and specify your referral fees. You can even get paid by providing agents with qualified leads (a.k.a. DOCTORS)…. explore every option. Here are some pricing ideas:
  • RE 1: 100k-300k purchase price; $1,500 referral fee payable in cash on closing
  • RE 2: 301k-500k purchase price; $2,000 referral fee payable in cash on closing
  • RE 3: 501k-700k purchase price; $2,500 referral fee payable in cash on closing
  • RE 4: 701k-1M purchase price; $5,000 referral fee payable in cash on closing
  • Asset 1: 10k-20k; $200 referral fee payable in cash
    
  • Asset 2: 21k-50k; $300 referral fee payable in cash
    
  • Asset 3: 51k-100k; $500 referral fee payable in cash
    
  • Asset 4: 100k-500k; $700 referral fee payable in cash
  • Qualified leads: RE: $20 p/ lead (you can sell your leads to any RE firm in town- easy money. Make sure you have all the information an agent needs to classify a “qualified lead”).
• Step 4: You will need to personally introduce the broker or financial planner to your physician.
  • Tell your contact to drop by at the end of your lunch (a.k.a. lunch and learn) and introduce them to your doctor. This can take 5 minutes and secures your position in the transaction.
• Step 5: You must call, email, and communicate with your affiliated network everyday. I cannot stress the importance of this. You are providing your network with a valuable resource and they MUST take you seriously. Demand that you are kept in the loop of every step of the way on every transaction- email works best.
• Step 6: Always keep the business cards of your network in your pocket on every sales call. You will never know who you come across!
  • Never hand out cards during field rides with your DM ; )

The reason why this works so well is because most family care and hospital-based docs work around-the-clock with little time to manage their finances or participate in active investing… If you can align them with the proper financial resources you will be providing them with an invaluable service…

There is no lobster dinner of bottle or Caymus that will ever come close to replacing the act of saving money or making money for your physician. If you have opportunity to use this strategy, the potential to own 100% of the prescribing volume from that office will become very real- very quickly. Access Granted!

The trick to this approach is introducing your network of financial resources at the right time using the right words. Before you ever position your opening statement to discuss such matters, you must conduct some recon to gather important information on that physician. Be observant before you ever walk into the office. Cruise around the parking lot and look at the “physician-only” parking spaces. Do you see a Toyota Corolla or a Mercedes? When you walk into the office do you see hunting magazines or power yachting magazines? If you ever make it back to drop of samples in a “no-see” office, try to catch a glimpse of the doc’s office, pictures on his desk… anything. With enough intel and due diligence, you will have a fair idea of who that physician really is and what they may need. After all, the ability to understand exactly what your client needs IS the job of every sales person.

Get out there and start aligning yourself with a well-rounded network of financial professionals. Having this affiliation at your fingertips is sure to bring the highest value to your physicians. You can rest assured that this is something your competition is definitely not doing! Even if your first few transactions don’t pan out, you are still providing your physicians with a service other reps cannot provide. Just by involving yourself, you will begin moving market share, gaining immense credibility and start making some serious cash!

Suit up and take to the field!

One of the biggest challenges new drug reps face is getting physician access. Even representatives that have been working their territories for one, even two years struggle with this very challenge. This article covers a unique access strategy that all medical sales reps can use regardless of company or industry regulations…

You will be delivering a free software product to your “no-see” physician called Epocrates and downloading it to their PDA or smart phone. EpocratesRX (the free version) is a free mobile drug and formulary reference that includes continual free updates and medical news. Your physician will have access to more than 3,300 brand and generic drugs, including:

• Dosing
• Interactions and Adverse Reactions
• Safety/Monitoring
• Pharmacology
• Retail pricing
• Drug-drug interaction checker
• Health insurance and Medicare Part D formularies
• DocAlert clinical messages featuring safety alerts, drug recalls and more

There is also another free version called Epocrates MobileCME which is an on-the-go learning center for mobile devices. Some features include:

• Courses available across multiple specialties
• Learn from esteemed faculties
• Complete a course in as little as 15 minutes!
• New courses added frequently

Either of these free Epocrates software downloads are powerful tools you can use to access hard-to-see physicians. I’ve personally experienced great success with the MobileCME version.

So let’s put your access plan together…keep in mind this plan is for a physician that does not allow reps in the office…

• Step 1: Never psych yourself out about entering a “no access” office, remember it’s your job.
• Step 2: Download EpocratesRX on your own phone or PDA so you can show the receptionist or physician exactly what you’re talking about. This also ensures you’ll know how to install the software correctly.
• Step 3: As you walk into the office the receptionist will immediately snap, “we don’t see reps.” Smile and respond, “I’m actually not here drop off samples, I’m here to download Epocrates on Dr. X’s cell phone- it’s the newest medical reference for physicians.”
• Step 4: Deliver a handwritten note to the physician stating you’d like to download Epocrates CME courses on his cell phone allowing him to earn CE credits on the go. (This is why I use MobileCME).
  • I use my business card and write on the back: “Here to download Epocrates CME on your cell… takes 5 minutes.” (Do this before entering the office.)

Remember, the goal here is to provide a service, not just access the physician. The best reps know how to build strong ongoing relationships by creating value for their doctors. Epocrates is a unique tool because it sets the stage for future appointments. The program has many downloads and software updates you can use to help build call continuum on your “no-see” doc. By putting this selling strategy into play, you will soon become one of the few reps that earns the ALL ACCESS PASS.

Congratulations! You ‘ve made it to the final interview. Let’s take a look at what this means for you:

• You’ve been approved by the DM (District Manager) to move forward and receive the final thumbs-up from upper management.
• Your new prospective company has already spent considerable time and money interviewing you, (a great sign…).
• The DM is counting on you to perform well during the final interview- You are one of the top candidates for the job.

It’s GUT CHECK TIME…

To learn how to CLOSE your interviewers HARD, click here.

To learn how to DOMINATE your COMPETITION, click here.

Without the right preparation before your final interview the outcome may be brutal. So first, let’s take a look at some typical final interview settings specific to pharmaceutical sales:

• The corporate office interview
  • Usually air travel is involved and a possible hotel stay, (on the company’s dime of course!).
  • During the interview you will be passed around the office like a rag doll- this can be especially intimidating for those that arrive unprepared.
  • In this setting you may be interviewed either by of a panel of interviews or in the individual offices of the:
    • VP of Sales
    • Director of Marketing
    • Regional Business Manager
    • Director of HR
    • Sales Trainer(s)
• The hotel interview
  • This is the better option- usually no air travel is involved.
  • You still face a panel of interviewers or possibly a one-on-one interview if you’re lucky.
  • You will typically be interviewed by the DM (District Manager) and the RM (Regional Manager) during the same interview.
  • You will have stiff competition, in this setting you will usually be one of three candidates battling for the job.
  • If you have the option of scheduling this interview, you want the interview to take place before noon, (statistically better outcomes).

No matter what the situation during the final interview, the name of the game is to remain cool, calm and collected and be a relentless closer. You must step up your game twice as hard on the final interview than on any other interview you’ve had thus far.

Having a well prepared close and remaining competitive against the other candidates (yes, this works!) will sway the vote in your favor. Having the right tools for your pre-interview prep will ensure you arrived prepared. This will enable you to tackle every question with ease and close each interviewer for the job!

For unique scripted HARD Closes designed specifically for pharmaceutical interviews click here.

Corporate America has changed dramatically over the past decade. If you work in sales, you must read this…

Most of today’s corporations are unforgiving towards their employees. Loyalty is not what it once was, in fact it’s virtually absent in most corporations- and this is especially true when it comes those that work in the sales force. When Wall Street expectations for corporate earnings are not met, sales jobs are typically the first to go, territories and representatives become immediately “thinned-out”.

Corporate America is merciless when it comes to meeting the bottom line. I totally agree with the foundation of capitalism (competitive advantage, proprietary technology, winning at all costs) however when millions of jobs become threatened with the poor performance of upper-management, there has to be a better option.

Today’s executives are overworked, over stressed, under paid and often settle for positions with limited opportunities for growth. This was never an environment I could ever picture myself making a career in and most definitely not the place for someone with ambitious career goals.

Now comes the opportunity of a lifetime to break into the ultra-lucrative world of healthcare sales. Do you take it?

Every drug rep will agree things are dramatically different on the inside the pharmaceutical industry. In addition to receiving a six-digit compensation package your first year, having a flexible daily schedule, and being manager free about 95% of the time, people actually need the treatments you will be selling. So for those of you who are motivated, have the ability to stay organized, and can hold your physicians accountable for prescribing your drug, pharmaceutical sales offers tremendous growth potential for any sales professional.
With the current influx of baby boomers hitting the health care system, people are now living longer and demanding new and better treatments to keep them alive and functioning. The pharmaceutical industry will continue to grow and profit from this demand. There is no better time to get started in the pharmaceutical sales than right now.

If you have a problem with being overpaid and under-worked then do nothing… otherwise click here.

Click here for our completely free FIVE DAY interview prep course for pharmaceutical sales.

Sign up at PharmaBootCamp.com for carbon-copy templates. Free downloads here.