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Useful Advices - Sales Networking - How To Research Potential Contacts
I truly believe that every individual in the whole world is potentially only five or six contact steps away. This ‘five or six degrees of separation’ shows that even an entire population of over five billion people is still highly accessible.
However, for
However, for
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
practical purposes, we don’t necessarily want or need to meet millions, or even thousands of people in different organisations, age groups, religions, professions, culture or places. We are just looking to develop a network that will eventually provide us with add
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
tional business.
Ideally therefore, we need some kind of filtering or research system that will help us to build a set of relationships of high quality, or a strong network that can find people and resources both efficiently and effectively.
First Steps
Ideally therefore, we need some kind of filtering or research system that will help us to build a set of relationships of high quality, or a strong network that can find people and resources both efficiently and effectively.
First Steps
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
The first step in the filtering process is to establish what sort of contacts or relationships you think may be of value or benefit to you (or the organisation of which you are a part). This is not to run counter to the idea that networking is primarily abo
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
t giving, but suggests that some relationships are clearly more valuable in the long-term for both sides, given careful thought in the first place. Only you can determine this ‘value’.
You may already know, or be close to, someone very powerful or influent
You may already know, or be close to, someone very powerful or influent
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
al but gain no benefit from association. On the other hand, you may find someone in the street where you live who can bring you great benefit if you build a relationship with them. You just need to know what you’d like to achieve in order to make reasonable assess
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
ment.
Networking Pyramid
When you start to network more widely, you quickly realise that there is a pyramid, or hierarchy of depth or quality in all of your potential relationships.
Pyramid Levels
At the base of the pyramid are what we call ‘s
Networking Pyramid
When you start to network more widely, you quickly realise that there is a pyramid, or hierarchy of depth or quality in all of your potential relationships.
Pyramid Levels
At the base of the pyramid are what we call ‘s
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
spects’. These are people who seem open to an approach to offer support. (remembering my earlier point about giving and reciprocity).
It is usually better to find out more about suspects before approaching them in person. Many are often misidentified and only
It is usually better to find out more about suspects before approaching them in person. Many are often misidentified and only
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
randomly picked. Only some suspects (when researched more closely) get to the next stage of becoming ‘prospects’.
Prospects are individuals who research confirms meet the effective network criteria, and can usually be approached in person. Once again, ini
Prospects are individuals who research confirms meet the effective network criteria, and can usually be approached in person. Once again, ini
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
ial conversation may reveal that not all prospects have been correctly identified. However, the numbers of people at this level are fewer and you can be much more patient in letting time provide an answer.
Contacts are prospects to whom you have offered su
Contacts are prospects to whom you have offered su
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
port and advice and whose assistance or guidance you have requested on one or more occasions. At this stage, you may have discovered only minor opportunities to call, talk or contact one another, but the potential to do more has been established.
Advocates
Advocates
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
are contacts that are openly promoting or advocating the benefits of networking (with you in particular) to other prospects and contacts. Although this may not mean frequent contact, it is likely to be more frequent than with general contacts in your network.
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
Partners are the best and most effective networkers than you know, and the ones you most often call to chat to, to ask advice, or suggest ideas or options. By this stage, the relationship has generally reached a much higher level of mutual trust and understand
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
ing.
Using The Pyramid To Look For Opportunities
To begin to discover who might be your network suspects at the base of the pyramid, an excellent place to start is to read for opportunities much more widely.
This means becoming broadly alert to the many
Using The Pyramid To Look For Opportunities
To begin to discover who might be your network suspects at the base of the pyramid, an excellent place to start is to read for opportunities much more widely.
This means becoming broadly alert to the many
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
pportunities to network that may present themselves every single day. Many of these opportunities will be posted in newspapers, magazines, on notice boards, in advertisements, on the Internet and many other sources.
An increased alertness will count for little un
An increased alertness will count for little un
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
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
ess you have a well thought through perspective on what you are looking for. There is no point in networking for the sake of networking. To an extent, this will depend upon your overall personal networking aims and objectives.
Possible networking goals:
•
Possible networking goals:
•
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
To increase market share/customers
• To find new ideas
• To learn and develop yourself
• To find a job/work/career
• To find a new colleagues/friends
• To pursue a hobby or interest
• To gain new perspective on topics of interest to you
• To go into busine
• To find new ideas
• To learn and develop yourself
• To find a job/work/career
• To find a new colleagues/friends
• To pursue a hobby or interest
• To gain new perspective on topics of interest to you
• To go into busine
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
s for yourself
Different Kinds Of Network
Every one of these networking goals is a worthy aim in itself, but it is usually the case that only one or two goals of this type will apply at any one time. Consequently, your networking research efforts will be
Different Kinds Of Network
Every one of these networking goals is a worthy aim in itself, but it is usually the case that only one or two goals of this type will apply at any one time. Consequently, your networking research efforts will be
.
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
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
invested quite differently if your goals are broadly around work or career options rather than if they are about starting up your own business.
Hence, although a few people will have very wide and diverse interests and a broad array of interesting contacts, our n
Hence, although a few people will have very wide and diverse interests and a broad array of interesting contacts, our n
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
tworking pyramids are built according to our specific goals and interest areas. This is often why we talk about a jobs network, a small business network, an education network and so on.
Copyright © 2006 Jonathan Farrington. All rights reserve
Copyright © 2006 Jonathan Farrington. All rights reserve
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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