Useful Advices - Business

1. Stay in regular contact with your database. That's one of the reasons I send out emails like my weekly newsletter. In my opinion there's no point having

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

a database unless they're receiving something (relevant!) from you regularly. It doesn't have to be every week - find out what works for you and always make sure y

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

Examples of combination products may in

u're asking permission before sending people anything.

2. Remember special dates. Make it a goal this week to get at least 2 special dates out of someone y

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

u network with. It may be getting all the children's birthdays of your employees, it may be getting all your workmates anniversaries - anything, so that you can di

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

rise and make someone feel special and remembered. Be creative with getting these if you need to - for example, our landlords provide their birthdates as security

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

Combination pro

n their management agreements, we then also use that to send out a little gift on their birthdays - sometimes I'll also ask the question "my husband thinks he's no

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

going to remember our wedding anniversary - does yours"

3. Don't freak out if you get scared walking into a crowded room full of strangers! It's not just

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

he extroverts that can network like crazy. Work out how to network to best play up your strengths. For example, personalised hand written cards are a always a winn

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

r. People keep a handwritten card (I know I've seen some up to 8 years old that I've sent!)

4. Remember little details. The most special moments for me are

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

when someone remembers something small I've told them like a doctor's appointment and remembering to ask how it went, or forwarding on a newspaper article on a top

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

c they know I'm interested in.

5. Be a bit wacky. People network with people in ordinary ways every single day. Why not surprise someone! For example - sen

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

Following aspects would a

d out a $1 scratchie with all your work related Christmas cards this year - it will only marginally increase your cost, but imagine the word of mouth if someone wi

dd to the challenges in developing combination products:

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

s $50 or $5,000! For that matter - I always send my Christmas cards out mid / late November, so they arrive early. I know I get swamped with cards mid / late Decem

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

er - make yours stand out. I just read recently of a woman who bought a used limousine to drive her real estate clients around - now that's an experience I would r

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

member!

6. Systemise your networking so that it's hassle free. For me diary notes pop up to remind me to send this email, to do my birthdays & anniversarie

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

monthly and to send out my database newsletter. Without those reminders - I'm sure this email wouldn't go out regularly like it does.

7. Network up. Find

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

Professional from academic institutions, pharmaceutical industries, health care indust

he most successful person in your industry or chosen career path and offer to take them out to lunch. Then ask them tonnes of questions! At one stage they weren't

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

ven in your industry - what did they do to get started, questions questions questions.

8. Give someone else business to get business from them. If you refe

.

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

a client to your chiropractor - and leave them some cards, they'll feel more obliged to refer you a client. If you send your accountant a new client - they'll sur

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

Companies that provide selfless information through particip

ly be more likely to recommend you when someone says they need someone in your industry. Tap into the law of reciprocity and you'll see how it works amazingly well

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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Are you an entrepreneur or small business owner? Do you know what consortiums are? Consortiums can expand your revenue stream in big ways. They have been around for years but most people don't understand what they are or how they work. This article starts the learning process.

Have you thought about starting your own business on the internet? You've looked, you've studied, and you've talked to others who have done it. Okay, you decide you're going to do it too. You're ready to take the plunge. You're going to start your own business and make your living online in 2007. Then what’s next?

Columnist Nan Russell shares career insights learned over 20 years in the corporate world, including as a Vice President at QVC

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