4 Things You Can Do Today (and Every Day) to Learn More About
the Pharmaceutical Industry
Why does it take so long to break into this industry? It's a
question I hear almost daily from people who are trying to get
jobs as pharmaceutical sales representatives. The answer to that
question is the topic of another article (a book on the subject
would be better). This article is meant to give you some tips on
what you can do while you're waiting for a return phone call
from a networking contact or interviewer.
When I'm mentoring people who want to get hired in this
industry, the first thing I always tell them is this, "You
should be networking while the world is awake and researching
while they sleep." The pharmaceutical sales search is a full
time job. Just ask anyone who's done it with success. Every
minute you have that can't be spent networking can be spent
researching.
Here are 4 things you can do (with relative ease) that will help
you learn more about the pharmaceutical industry.
1. Make a list of companies you would like to work for and study
them daily. Start with 5 companies and go to their websites.
Notice I didn't say "read about" these companies. You need to
study them, just like you would've in college. Learn about the
products they own and promote, learn about their history, their
financial stabilty, their future, and their pipeline. Any bit of
information you can find on them . . . devour it. Take it to
heart.
2. Use the list from above and stay up to date on current news
about those companies. Back in the days before the internet,
this was pretty tough. It meant going to the library and poring
over the Wall Street Journal day after day looking for news.
Today it's as easy as going to news.google.com and searching for
the company you are interested in and/or its stock ticker. If
you want a really easy way, spend a few mintues teaching
yourself about RSS (Really Simple Syndication) and the freshest
news will be waiting for you all the time.
3. Use your local library. While the internet has made some
things easier, it still isn't a replacement for your local
library (not for free anyway). Visit the library and take a look
at the S&P Reports for the 5 companies on your list. Ask the
librarian to point you towards similar information that might be
of use. Often times you can find jewels in these publications.
As an added bonus, you can take copies of the S&P report to your
interview and show the interviewer that you've done more to
research than just point-and-click.
4. Watch Television. It's no secret that pharmaceutical
companies love to advertise. While your spending well deserved
time in front of the television, keep an pen and notepad nearby.
As you see a commercial for a drug, write down its name. If the
company logo appears, write it down too. If you can catch the
major selling points that the commercial makes about the drug,
you'll be on your way to superstardom. I'll bet you never
thought watching TV could be considered work!
As you start doing these four things you'll quickly find that
there are numerous other habits you could form that would help
you learn more about the pharmaceutical industry. Do those too.
As with anything, the more you put into your search, the more
you'll get out of it. But, um, don't forget to have a life!