Looking Ahead in Medical Device Sales

If you’re in medical device sales, there are some “seismic shifts” in the industry that you should be aware of, especially if you expect to advance your career in the coming years. 

 

First off, a recent report from the global tax advisory firm WTP Advisors noted that the medical device industry in the US will face an uphill battle in finding qualified talented workers—good news if you’re a talented rep with a solid track record. However, a study conducted by the Advanced Medical Technology Association (AdvaMed) revealed that the 2.3 percent tax imposed by the Affordable Care Act could ultimately cost more than 45,000 medical device jobs when it kicks in at year's end. This puts the onus on you to perform like a Wallstreet “rainmaker.” 

 

So what can you do to position yourself to keep moving up in medical device sales? How can you exploit these “sea changes” in the medical device industry? 

 

Lisa McCallister, a medical device sales recruiter who has placed several hundred candidates in various sales and marketing roles, says there are specific things you must do and certain landmines you need to avoid to succeed in medical device sales. She notes that sales careers must be “protected by making good career choices based on your long-term goals.” 

 

She advises her clients to avoid “job hopping,” and to stay with one company for at least three years. During the first year, it’s mostly training, building up your contacts in a specific territory and trying to make a minimum quota. It’s only in the second year that one begins to show results and rankings. Here, nothing succeeds like success, and one needs to repeat winning techniques and strategies and continue to learn. 

 

McCallister scrutinizes a candidate's resume for job changes and performance. “If someone leaves a job before they’ve been able to demonstrate a clear track record of success, it leaves me with a lot of questions,” says McCallister. As with most jobs, past performance is the best predictor of future performance. Those who leave a job before they establish a track record often miss an opportunity to boost valuable selling skills. They also forfeit the chance to gauge themselves and be gauged by established industry metrics.

You might ask, how long should you stay with an employer? One rule of thumb relates back to the “seven year itch” people encounter with any relationship. After seven years of working with an employer, you should consider challenging yourself with a new sales direction—selling to hospitals if you been selling to individual medical practitioners or vice versa. As with most fields, after seven years, you should have “topped out” with a track record and skill level. This, however,  doesn’t mean that you’re “tapped out” in terms of drive or ambition to advance your career. That said, lateral moves should be made with caution in these uncertain times. Make sure the company culture and selling benchmarks fit your style. 

Changes are coming. The competition is getting stiffer. Will you be ready? If you have any comments or suggestions, be sure to include them below.