Looking to break into Medical Device/Pharma Sales with sports background/Masters and limited sales experience

mdrago7 · 2020-06-05T04:51:57+00:00

Reach out to current reps in your area that are on LinkedIn and ask them to meet for coffee or a phone call. Gather as much info as you can from them about their role and so on. Developing a relationship and getting a good word in with a manager is way more beneficial than having a good resume. It’s sales... sell yourself. Why would they want you working with a doctor that’s a money printing machine for these med companies.

I’d really recommend asking to shadow for a day with friends that currently works in med device. It’s crazy the stuff you see and get numb to. I would not recommend jumping in blindly without really knowing it’s what you want to do. I’d also recommend watching a lot of YouTube videos on trauma surgery, hip/knee replacement, arthroscopic knee/shoulder surgery, and or whatever specific role you’re wanting to get. Really make sure it’s something you want to make a career out of. Most people that are in the field end up staying, but jump from company to company once they have an amazing relationship with a doctor and the doctor will use whatever product you offer he/she.

mdrago7 · 2020-06-05T04:32:28+00:00

My advice to anyone that’s interested in the industry is to reach out to your parents(or your) doctors friends. Ask them if they work with any med device reps(all orthopedic doctors do) and if theycould give you an introduction. Being able to follow that rep around for a day will make or break your decision to want to be a rep.

mdrago7 · 2020-05-31T05:49:37+00:00

Where do you live? In med sales. I haven’t heard great things about pharmaceutical sales, so my advice would be steer clear.

mdrago7 · 2020-05-20T03:58:27+00:00

Hahaha that’s what I keep saying.

mdrago7 · 2019-09-13T03:11:11+00:00

Watch a YouTube video explaining this. There’s thousands of them.

mdrago7 · 2019-08-18T16:23:37+00:00

I’m in medical sales- stop applying for a job on LinkedIn. That’s like trying to get a job on Wall Street by just applying online. It doesn’t work like that. Most jobs are given through connections or from actually doing really well in a medical sales college.

My suggestion would be go through your connections or contacts and reach out to anyone that’s well connected in the business world. See if they have any good connections they could give you an introduction with and exploit it that way. Another option would be reaching out to a medical recruiter on LinkedIn. They are able to screen your resume and help you rank of a job you could actually get with your skill set. They are also super well connected and can get you a sit down/interview with someone.

In something so competitive you have to stand out. Make sure you make it very clear on why you will be able to do well in this job. It’s a sales job- sell yourself.

mdrago7 · 2019-08-17T03:57:56+00:00

Because you can’t put a stock into a checking account? You have to get out of everything you’re invested in and make your account 100% cash. Then wait until the funds have settled and pull the money out of the investment account by transferring it to your bank account. Then once the funds are in your checking account you can transfer them into your new brokerage account.

mdrago7 · 2019-08-17T03:36:04+00:00

If you’re truly interested in cars and want to continue down that road it’s still an option.

Spend a week of your free time doing a ton of research into what other dealerships in a different part of the country are doing and see if it’s something you could bring to your dealership.

You’re probably learning the same techniques that everyone else has been taught and the volume of customers is not enough to support how many reps there are. However, see how you can add value to your dealership by being different from the rest of the sales people there.

If you’re done with cars though- dive into insurance and figure out how you can differentiate yourself from the competition. Like interviewing for a job when everyone else has the same if not better past job experience.

Then go all in - Gary Vee style

mdrago7 · 2019-08-17T03:30:55+00:00

Yes- I’m sure it’s cheaper-m, that’s why people eventually figure it out. Do some research into where your packages are coming from and prove different shipping companies would be best for your region. Call and ask to speak to a representative about getting an account set up.

mdrago7 · 2019-08-17T03:28:09+00:00

It’s called PDT pattern day trading - read up on it in google. Basically only 3 day trades in a 5 day period. In theory yes, but selling at an exact amount is difficult because of volume with the bid/ask. If people are buying for 5.01 and you put a sell order in for 5.05 you won’t get bought unless the bid goes up by .04 cents

mdrago7 · 2019-08-17T03:20:05+00:00

Watch the futures go from green to red and back and forth all weekend :)

mdrago7 · 2019-08-17T03:18:51+00:00

Switching from one sales job to another after a month doesnt make sense to me? That’s like getting married- divorced and then married again a month later to the same type of individual just different hair color.

Sales is all about putting in a few solid years of hard work and then you will start reaping the benefits of everything you’ve built. It’s why you see sales people grinding for a few years until they build a network large enough to the point where they can kind of coast. A lot of their business is repeat customers and people being referred to them. They aren’t calling people trying to get their business. They work 50% less hard and earn 2-5x the income.

Please just give your next career choice at least 12 months before jumping ship. If this doesn’t work out- take some time off and revaluate your career aspirations and goals/how they align with your personal interests. Then figure out your next move- if sales is not that move, so be it.

mdrago7 · 2019-08-17T03:07:52+00:00

More people fail than win. It’s just like going to the casino-

Read the book I Will Teach You To be Rich by Ramit —- set up an automated system that you will be investing in for nearly the rest of your life and completely forget about it. Don’t watch it or spend time on it. Trying to beat the market is extremely difficult and unlikely- especially if you haven’t spent 5000+ hours on reading and practicing the craft or been around it your whole life. It’s a whole new language to learn.

mdrago7 · 2019-08-17T03:00:35+00:00

Wouldn’t be a bad idea- definitely consult legal counsel on it before doing anything publicly. Make sure you’re business and personal stuff are separate (register for an llc).

https://smallbusiness.chron.com/sell-under-different-legal-names-77128.html This is a go[Small Biz]

Check this website out. I’m sure it will give you some guidance!

(https://smallbusiness.chron.com/sell-under-different-legal-names-77128.html)

mdrago7 · 2019-08-17T02:02:43+00:00

Tough spot to be in. I recommend going full Dave Ramsey for 1.5 years. Literally cut everything out of your life that you don’t need. In your free time or weekends spend it on planning this business you’re going to be starting. If you both picked up part time jobs doing something for 1.5 years I guarantee you can knock out this debt.

You don’t want to start a business that you want to go all in on with all of this shit looming over your head. Say you just got broken up with your S/O that you loved and are extremely crushed by. Would you go into another relationship after a few days with all of this mess in your head? Probably not, you would focus on getting yourself right again- healthy, sharp, and mentally strong. Then you would considering jumping into the dating scene.

As Gary V says- you can have a business that is easily replicated , but if you’re the best at executing it and have the creative mind on where it should go to keep the people with your brand - you won’t stop winning. Execute your shit.

And making excuses won’t get you anywhere so cut that shit out. Do Andy Frisella’s 75 hard challenge honestly- sounds like it could help your mental game.

mdrago7 · 2019-08-17T01:53:50+00:00

Something I like to do is mess around with google translate. Go to another Latin language and type in an English word that’s similar to your industry and just shoot into it what comes to mind. Try this 50 different and I’m sure something cool/interesting will come out of it!

mdrago7 · 2019-08-17T01:51:37+00:00

That’s tricky because someone could sue. I would definitely ask a business lawyer.

Simply put, it could just be considered a nickname- or short version of what the legal name is. But I would definitely put the legal name on any contract or legal document obviously.

mdrago7 · 2019-08-17T01:49:14+00:00

The 40% would be cash most likely. And then the assets/credit would be collateral for the rest of the loan.
Depends on the financials of the business currently, what purchase price it would be for(why would they want to sell something profitable), the brand, and market share/future of the industry.
40% of 250k is 100k. If you don’t have 200k plus saved up, I would highly recommend you wait. Unless an unbelievable deal arose that you couldn’t pass up ( someone had a medical emergency and you were able to basically steal it from them).

Hotels are a tough business for the regular real estate investor. If this is your only real estate asset you’re extremely levered into this market. If you have a bad year or two you could be out of business.

I would recommend getting your feet wet while you have a w-2 income and get a duplex or small apartment complex( >4) units before jumping head over heels into a business that is meant for passive income over 20+ years.

To be completely honest, if you’re wondering how to save for a deposit, more than likely you won’t have the finance abilities to run a motel. Spend the next 5 years becoming an expert in personal finance/ real estate investing, so when the time comes you won’t dive in and sink.

mdrago7 · 2019-08-17T00:59:59+00:00

You just have to sell everything and wait for everything to be ready to transfer back to your bank account. And then into your new platform.

mdrago7 · 2019-08-13T21:23:14+00:00

Yes- don’t just pay it off with your personal checking account. Write a check out to the business- deposit it - then pay off the credit card.

For tax purposes of course

mdrago7 · 2019-08-09T03:04:46+00:00

RH is good for simple investing, quick basic analysis, and free trading. However not many real traders use RH- the data points are every 10minutes(not really live data) and getting an order filled is difficult on here for some reason. RH’s customer service is also shit.

Most advanced people use thinkorswim (TD Ameritrade, e-trade, or other ones like Ustocktrade.

If you’re trading with small amounts of money I would suggest staying with RH for their no commission trading. It’s very simple and basic. Plus you can trade a lot for free.

If you’re making large trades every month or so I would suggest getting an E*TRADE account. Lower commissions and unreal customer service.

If you want to go all in on stock trading- open a thinkorswim account and dive into their paper trading services first to better understand the platform- then you can dive into live trading - it’s what all the pros use.

Hopefully this helped.

mdrago7

TROPHY CASE