Pharmaceutical companies do not only make money selling drugs. A certain percentage also comes from the sale of medical devices. If you think you have what it takes, then perhaps you should go for a career in sales and see if you can make money selling medical devices.
A sales career in medical devices means going out of the office often to meet clients. You may have to drive a certain distance or get there by flying in a plane. But before you meet them, you should already have a plan on how to present this medical device. Be prepared with your sales presentation and ready to answer any of their questions. You often don’t have a second chance if you fail on your first sales pitch.
Making a sales presentation
Your customers are usually doctors since they will be either using your product themselves or recommending it to patients. So, you have to sell them on what you are offering and demonstrate how it works.
If the device is to be placed inside the body of a patient you may not be able to demonstrate live. The best way to do this will be to create a computer-generated visual presentation and then present that to them.
While you are doing this, you should let them hold the device and give them a hard copy of the brochure, so they can also read it. As mentioned before, you have to be ready for whatever questions they throw at you. The minute you stutter or show that you are unsure of what you are selling, you may have already lost the opportunity right there.
This will never happen of course if you have reviewed your product carefully and know the key selling points. When you work in a company, you can ask questions and conduct mock-up sales presentations. It is better to make mistakes now than with a client.
Closing the sale when selling medical devices
Selling medical devices is like selling anything. The best way to tell if someone is likely to buy or not, is to look for signals. These could either be verbal or nonverbal. If they ask how many do you have or what the best price is, then you know that they are interested. Non-verbal is a bit tricky so watch their hands. If they are playing with it as though they own it, chances are they are interested.
Once these signals are seen, then it is time to close the sale. You can be frank and ask if they want to buy if they have not said so yet. You may also say that the medical device is available in different formats and asking them which they prefer. Should they respond choosing one format or other than it’s a deal.
The other option would be to attach some freebies to the medical device. Usually, this helps enhance the sale but you need to be careful that you are not breaking any regulations regarding selling medical equipment if you are offering inducements.
The money is in the follow up
One thing some sales agents forget is to follow up with their previous customers. You have to remember that these doctors see lots of patients monthly. Aside from those who have to undergo regular checkups, there are new patients who come in. So you want to call them up every so often to find out if they want to order from you again. This will also give you the opportunity to check if there are any problems so this can be corrected.
You can have a great sales career selling medical devices. It’s important to be patient and persistent and learn how to close sales. You have to be quite thick skinned in sales. There will always be some doctors that will not be interested in what you have to offer.
Make money selling second-hand medical devices
The other option to consider is buying and selling second-hand medical equipment. I have a friend who built up a business doing that. There are often enhancements made to devices so that establishments with plenty of money will upgrade their equipment.
Often the equipment they are replacing is in perfect working condition. Equipment that has been discarded by surgeries and clinics in locations like the USA, Canada, UK or Australia is highly sought after in some less-developed countries.
You can make a living buying up second hand equipment cheaply and reselling it in the third world. This gives you the opportunity to make money selling medical devices even if you want to be your own boss.