There is tons of information on the internet on how to ENTER into pharmaceutical sales. What do you do if you want to go out? If you google pharmaceutical sales or anything related to pharmaceutical sales, there is an endless list (seemingly) of websites, videos, articles, and tips that will try to help you achieve this. However, if you are like many pharmaceutical sales reps today, you are looking for a way out of pharmaceutical sales. The industry is declining rapidly; a decline that began roughly more than 10 years ago when all of the major pharmaceutical companies began rapidly expanding their sales forces to increase the “Share of Voice.” And by the way, whose voice would that be? They probably never heard the “voice” of their representatives as they tried to explain that access was decreasing because there were too many representatives in the field. Now the industry is in a place of managed care challenges, with limited or no access, and disgruntled and dissatisfied representatives looking for a way out (that is, if your company has not yet provided one by “realigning”, “correcting the size “or” rearranging “). If you are currently working in the field, it is important that you keep doing what you are doing. Do not do anything that could raise red flags about your dedication to the company or your position. Always be positive; keep up to date with assignments, projects and reports; and communicate with your manager on a regular basis.
The first step out of pharmaceutical sales is a no-brainer – find out what else you want to do. Would you like to go back to school, embark on a new career, start your own business, or become a stay-at-home parent? If you want to go back to school, find out what area you would like to pursue. Maybe you want to stay in business and get an MBA or maybe you’ve decided to go the clinical route to capitalize on your pharmaceutical sales expertise. You could even get a Ph.D. if you are interested in higher education or research. Your options are endless. If you want to embark on a new career, there are tons of FREE professional assessments available online. I suggest you take one; In addition to taking an inventory of your hobbies, what you enjoy the most, your gifts and abilities, as well as asking your family and close friends in what area they think you could excel. If you have been thinking / dreaming of starting your own business, explore your options. An advantage of pharmaceutical sales is the ability to have flexible hours. There are many businesses that you can start while still working in pharmaceutical sales, as an online or Internet business. Note to self: be careful and be smart. If you have recently had children and would like to stay home with them full time (many parents choose to be stay-at-home parents these days) start looking at your household budget to see if this is feasible and if not thus, determine what adjustments need to be made to make this option a reality.
Step 2: Develop a plan to move toward your new goal. If you have decided to go back to school, your plan should include researching various programs, schools, and funding / scholarship options. It would also make sense to attend information sessions at various schools once you’ve narrowed down your options. If you’ve decided to pursue a new career, your plan might include updating your resume to fit the new career you’re looking for, writing a cover letter to briefly highlight your reason for making a change and what you have to offer, brushing up on your interview. skills and search for a new job. There are several excellent job search engines and don’t forget LinkedIn. If you have decided to start your own business, your plan may include researching how to start a business, the licenses you may need or whether you need to incorporate, and others who are currently operating the type of business you would like to start gathering additional information. intelligence or possibly become a mentor to you. If you’ve decided to become a stay-at-home parent, your plan may include creating a new family budget, researching benefit options (if you’ve been the main breadwinner), selling household items. to earn additional income and, most importantly, save.
Step 3: Work your plan. It is important to have goals and deadlines for any plan. Set a schedule and work on your plan until you reach that goal.
Do not give up! Ask others for help when you need it. Anything worthwhile will take a bit of effort, but you can do it. If you had what it took to ENTER pharmaceutical sales, then you certainly have what it takes to EXIT.
