How to get out of pharmaceutical sales
There is tons of information on the internet on how to get 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 a (seemingly) endless list of websites, videos, articles, and tips that will try to help you get there. However, if you’re like many pharmaceutical sales reps today, you’re looking for a way to GET OUT of pharmaceutical sales. The industry is rapidly declining; a decline that began roughly 10+ years ago when all the big pharmaceutical companies began rapidly expanding their sales forces to increase “voice share.” 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 diminishing because there were too many representatives in the field. Now the industry finds itself in a place of managed care challenges, limited or no access, and disgruntled, disgruntled reps looking for a way out (that is, if your company hasn’t already provided one by “realigning,” “resizing” or “reorganization”). If you are currently working in the field, it is important that you keep doing what you are doing. Don’t do anything that could raise red flags about your dedication to the company or your position. Always be positive; keep up with assignments, projects, and reports; and communicate with your manager regularly.
The first step to getting out of pharmaceutical sales is an obvious one: figure out what else you want to do. Would you like to go back to school, start a new career, start your own business, or become a stay-at-home parent? If you would like to go back to school, find out what area you would like to pursue. Maybe you want to stay in business and pursue an MBA or maybe you’ve decided to go down the clinical route to capitalize on your pharmaceutical sales experience. You could even earn a Ph.D., if you’re interested in higher education or research. Your options are endless. If you want to start a new career, there are tons of FREE online career assessments available. I suggest you take one; along with taking inventory of your hobbies, what you enjoy most, your gifts and abilities, as well as asking family and close friends in which area they think you might excel. If you have been thinking/dreaming about starting your own business, explore your options. One advantage of pharmaceutical sales is the ability to have flexible hours. There are many businesses that you can start while you are still working in pharmaceutical sales, such as an online or internet business. Note to self: be careful and be smart. If you’ve recently had kids and would like to stay home with them full time (many parents are choosing to be stay-at-home parents these days), start looking at your household budget to see if this is feasible and, if no, 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 narrow 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 seeking, writing a cover letter to briefly highlight your reason for making a change and what you have to offer, reviewing your interview skills and search for a new job. There are several great 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, what licenses you may need or whether you need to incorporate, and other people who are currently operating the type of business you would like to start to gather 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 primary breadwinner), selling household items to earn additional income and, more importantly, save.
Step 3: Work on your plan. It is important to have goals and deadlines for any plan. Set a timeline and work on your plan until you reach that goal.
Do not give up! Ask others for help if/when you need it. Anything worthwhile will take some effort, but you can do it. If you had what it took to GET IN pharmaceutical sales, then you certainly have what it takes to GET OUT.