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A Silly Little Story of the History of My Speed Business Network

In 2003 I ran a pilot of a radical new approach to sales training which I'd developed, based on a combination of process mapping and high-level

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

NLP communication skills. The average increase in sales in 90 days was 598%, so I was pretty happy about that. But what I wasn't happy about was the fact that there was absolutely nowhere in Australia for my gradu

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

Examples of combination products may in

ates to network the way I'd taught them, which was a philosophy and methodology based on seeking out business soul mates with shared core values and principles.

So I started running little groups for them to practic

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

, and I called these groups Speed Business Networking because they provided a highly-structured environment to maximise contact opportunities, and also to learn and grow by sharing knowledge and expertise.

At the sa

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

me time I was acutely aware of the disgraceful failure rate of small business and I saw very clearly that this failure was definitely NOT due to lack of capital (the most frequent recipient of blame) but due to plain

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

Combination pro

old-fashioned lack of knowledge and expertise in business management, and strategic planning and execution.

I wanted to use regular networking meetings to bring a high level of proven expertise to small and medium-s

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

ized businesses, and also show business owners and professionals how to unlock and use the vast reservoir of experience and expertise that is contained within their own community.

What I never planned to do, but fou

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

d myself doing, was acting as some kind of entertainment director for people who didn't want to develop their business or even learn! And these were mostly people who didn't know what networking really was, and want

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

ed to keep on with the same old-fashioned and ineffective networking habits they'd always used!

Am I mistaken in my summing up? Not according to the anonymous survey I delivered to members. Overwhelmingly, they in

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

icated that they were specifically not interested in learning, or developing their businesses, but looked on networking time as entertainment.

How this could possibly happen when I was so repetitively vocal about th

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

e whole purpose, philosophy and methodology of the group, I have no idea. It was profoundly embarrassing, and disappointing, to get such a mismatch in terms of who was attracted to it, but there you go, that's how i

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

Following aspects would a

t was.

So I decided to pull everything back, to stop being an entertainment director, and work only with people who shared my passion for small business. I decided to offer high-value but free material on-line so t

dd to the challenges in developing combination products:

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

at the dinosaurs could ignore it without my taking it personally, and the people who really did want to develop their businesses could pick it up and run with it, getting personalised help from me and from the other

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

members of their on-line business community, including gaining access to markets that would otherwise have been out of reach.

So that's how My Speed Business Network was born.

A Vast Array of Resources

Quit

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

apart from the free business consulting that's available with the no-charge membership, members can form their own mastermind groups, either open to other members, or locked and for the private use of their own elit

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

e group, get help with marketing strategies, solve problems, seek out mentors, alliances or advocates, build customer clubs, place advertisements for their company, and download or upload business training audios or

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

Professional from academic institutions, pharmaceutical industries, health care indust

ideos. And a whole lot more. The forum alone has 64 separate business discussion topics.

Use it Or Lose it

But of course all of this goes to complete waste if it's not utilised, and as you know, if an acti

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

vity isn't diarised it doesn't happen. Lots of business people intend to work "on the business", rather than in it, but don't make time available, and don't quite understand what "on the business" means, in any case

.

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

By putting aside just a single hour a week, and spending that talking with other business people, asking for help with challenges and offering their own contribution in turn, huge advances can be gained.

It really

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

Companies that provide selfless information through particip

is that simple. So hop along to www.speedbusinessnetworking.com today and click on "Take Me to My Speed Business Network" to join as a free member. It'll be one of the very best business decisions you've ever made

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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