Useful Advices - Business

Are you a bushwhacker? Do you sneak up on unsuspecting people and trick them into hearing your sales pitch? You may push some people into makin

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

g purchases, but this approach is very short-sighted.

This just happened to me. A man led me to believe that he wanted to take advantage of my

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

Examples of combination products may in

ffer to give him a fr'ee coaching session after I spoke at his chamber of commerce meeting. When we got together, he launched into a very long s

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

les pitch all about his multi-level marketing business.

He assured me that he was merely interested in educating me, but I had told him (twice)

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

hat I was already very familiar with his company and products. I have actually coached two business owners with his MLM who were very profession

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

Combination pro

l. This did not deter his ‘enthusiasm'. He asked no questions and was completely uninterested in my needs or my business.

There could easily h

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

ve been a misunderstanding, in which case we could have had a networking meeting where he told me about his best referrals and I did the same, bu

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

t that is not how it went down. He had absolutely no interest in my business.

If you suspect you are using this technique, stop now! The old m

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

del of the tricky, pushy, slippery salesperson is out. Relationship building is in. If you feel the need to mislead people to get them to liste

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

to your pitch, maybe you need a different business. You certainly need a different approach.

I mentioned earlier that pushing your product on

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

eople is short-sighted. What I mean by that is that the customers who are bullied into making a purchase are much more likely to never purchase

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

Following aspects would a

gain, drop out of the business or program and talk badly about you and your company. All of this hurts you long term and causes you to work hard

dd to the challenges in developing combination products:

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

r for a longer period of time.

The proper way to sell in today's environment is actually easier than being pushy. The first step is to determin

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

who your target market is and what their needs are. This determination will make it much easier to find your best prospects. Then, it is very

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

important to be up front about your intentions. If you want to have a networking meeting and share information about both of your companies, sti

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

k with that agenda. If the other person wants to make a purchase, they will let you know, but stick to the agenda and resist the urge to go on a

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

Professional from academic institutions, pharmaceutical industries, health care indust

d on about your business.

Once you have made a sales meeting appointment (fr'ee consultation or otherwise), then by asking well-crafted, open-en

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

ed questions, the prospect will tell you everything you need to know to close the sale. Of course, there must be a genuine need or want.

You wi

.

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

l build relationships and close more sales by being giving and truthful; building relationships will bring you more referrals faster. What works

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

Companies that provide selfless information through particip

for me is to give first with no expectations. Your sales and your reputation will improve with this philosophy.

Copyright (c) 2007 Audrey Burto

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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Running a small business is a challenge in today’s world, but the rise of the internet has provided a new medium for the small entrepreneur to thrive. Both traditional and internet businesses will fail if the owner does not understand the basic fundamentals. All businesses must have a purpose, but it needs to be more than making a lot of money. It should be more specific for example “PHP program for internet applications”. Once you have a purpose your business will be more focused. Begin with the end in mind. Know where you are going and you can take the next step.

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Useful Advices - Sales Strategy #2 - The Ambush!

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