Selling to a Not-For-Profit Hospital? Could Endowment Funds Help You?
Most MedTech sales professionals don’t realize that when selling to a Not-For-Profit (NFP) hospital the funds for the purchase of their product, service or solution may come from the use of Endowment Funds. There are two types of funds: Permanent Endowments are those that have been restricted by donors and are monitored by the hospital […]
Do You Know the Pathway to the PO?
Hallelujah you have just been told you won the sale. Now the next challenge is to get the purchase order (PO). Be careful about celebrating too soon, you are not home yet. You would be wise not to include this order against your sales goal at this time. Finally, don’t forecast it yet and above […]
Why Hospital Strategic Procurement Doesn’t Buy More From You!
Selling to hospital strategic procurement can be much easier if you understand the metrics that they value or demand from their suppliers. Many of these are generated from the requirements of their internal customers. In general, each of these can be placed in the categories of delivery, cost, responsiveness, errors and defects. Lead Time on […]
Do Checklists have a Role in MedTech Sales?
A significant number of professional organizations have integrated the use of checklists to manage time-sensitive projects. Astronauts, IT professionals, and others in high risk industries use rigorous checklists to help them avoid potential hazards. As an example, every pilot goes through a pre-flight checklist before he pulls away from the gate; its standard operating procedure […]
Are You a Sales Representative That is on the Bubble?
Another quarter went by and you didn’t make plan. For many sales representatives this is not unusual. CSO Insights reported in 2012 that only 63% of sales representatives made quota for the year.1 If you are consistently missing your sales quota it’s not unnatural for a sales professional to wonder if they are on the […]
Maximizing Your Healthcare Trade Show ROI in a Changing Environment
Call me old fashioned but I firmly believe that everyone that attends a trade show on behalf of their company should have specific show objectives to drive the trade show and company ROI. Furthermore, these objectives should be written down and approved by a senior manager before anyone is allowed to attend the show. Following […]
MedTech Sales Professional: How Are You Improving Your Craft?
If you’re in MedTech sales you have a designated territory and a sales goal. Making the “plan” is your number one objective. If you are a 1099 and self-employed, you are a hunter who only gets paid when you consistently hit the target, otherwise it’s a long dry season. Successful MedTech sellers recognize that the […]
13 Questions You Should Be Able to Answer in Every Opportunity Review! Part 2
Within MedTech sales every sales professional manages a myriad of sales opportunities. Each of these is at different stages of the buying process within their “sales funnel.” It is good practice to review the most important opportunities with your manager. Best in class sales organizations do these reviews with a finite schedule, when key changes […]
13 Questions You Should Be Able to Answer in Every Opportunity Review! Part 1
Within MedTech sales every sales professional manages a myriad of sales opportunities. Each of these is at different stages of the buying process within their “sales funnel.” It is good practice to review the most important opportunities with your manager. Best in class sales organizations do these reviews with a finite schedule, when key changes […]
Selling Time is Sacred! Do a Time Management Check!
For many MedTech sellers January 1st began a new fiscal year and a new sales quota. For others their fiscal year starts April 1, July 1 of October 1. Regardless of when your fiscal year starts it’s always wise to take a few moments and reflect on three (3) important things: 1. How many selling […]
