Useful Advices - Business

So you have printed out your business cards and perfected your elevator speech, gone to several networking functions and still the phone is not ringing. So w

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

hat, you ask, is the problem? The answer is quite simple, there is more to networking than meets the eye.

Many business owners have the notion that networki

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

g is simply showing up at a networking function with plenty of business cards and introducing their business effectively. When things begin to wrong they sta

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

rt to think it is their elevator speech that needs tuning and they work effortlessly to try to get their message across. Instead, if you, as a business owner

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

want networking to truly work you have to work at it. It takes more than just showing up at the networking functions. Here are some ideas to help you travel

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

the road to successful networking.

Quality not Quantity The person that collects 25 business cards in a two hour networking function is less likely to have

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

a successful connection than the person who collects only 3 business cards. The reason is the person that collected only 3 business cards probably took the

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

ime to get to know those three people and develop a connection. Make sure you are networking to make connections and not to build your business card collecti

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

n.

Take Notes
Don’t be afraid to take notes on the back of business cards. This will give you a reference point later on to remember which person gave

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

you which card. This is especially important at functions where you have no choice but to meet several different people. Jotting a little note such as someth

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

ng they said, wore or a physical characteristic of the person can be enough to start a conversation when you follow up at a later date or if you’re trying to

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

jog your memory about a conversation. People are more likely to react to a personalized connection.

Let’s Go For Coffee
Take the time to meet with busi

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

ness associates outside of networking functions. Invite the person out for coffee on the premise you would like to learn more about their business. Most peop

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

e will naturally return the favor and ask you about your business as well.

Remember Extended Networks
Just because the person you have met is not someo

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

e who is interested in your service or product, please keep in mind the person has an extended network. They also have family, friends and other business ass

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

ociates that just might be interested in your services. In just a short time they may be able to pass your business card along to someone who is a great conn

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

ction for you and your business.

Become a Referral Resource
By working on assisting others to make connections with other contacts you have made, you w

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

ll become known as a person interested in the success of others. This will allow you to set yourself up as a referral resource; a person with connections.

R

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

emember, often times our successes are built because of who we know and not what we know. By building networking skills and your networking database, you wil

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

soon learn how true this statement is. Utilize all these tools together with your dynamic elevator speech and you will be on the road to a thriving business

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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Abstract Logo Designs provide you with the opportunity of being perceived the way you want by your targeted consumers.

Having your sandwich and eating it; a Business Students guide to securing a Placement, writing that killer CV and Cover Letter, making use of job fair's and negotiating salary.

It’s such a time-honored maxim it seems all but ordained by God. The customer is always right! Yes, a company’s most desirable objective must always be to keep its customers both loyal and happy. Certainly, it’s the secret to business success. And how does one achieve this? By paying attention to your customers, i.e., serving them, listening, adjusting, responding. You do whatever they say, making sure your employees do the same. The customer pays the freight, after all… they must forever be number one. So that makes a lot of sense, n’est-ce pas? “Good Business 101. Then again, hell, hmmm… maybe not! One major US airline company may be an indication that this long-held truism should be shipped out to relic-dom. At this company, you see, it seems the customer ain't always right at all—it’s the employee!

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Useful Advices - There is More to Networking Than Meets the Eye

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