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Useful Advices - Grow the Value of your Business: Sack Half your Clients
Sometimes when I coach clients I get them to do actions they hate –- one recent
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
client wanted me to help him double his revenue. So he was quite clear about his
; 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
goal but was not sure about creating a feasible action plan for achieving it.
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
o that David isn’t the only person in the country to hate me, why not try this f
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
r yourself?
Categorise your clients
Break your clients i
Categorise your clients
Break your clients i
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
to:
- Type A ('loved what I do, paid me on time and told their friends'
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
,
Type B and
Type C clients ('always complained, turned up l
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
te for appointments and b*tched about my fees').
Then fire all your
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
Type C clients and half your client base.
Change how you find clients
Change how you find clients
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
trong>
Then I suggest you tell your Type A and B clients that you rely whol
Then I suggest you tell your Type A and B clients that you rely whol
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
y on their word-of-mouth.
Tell enquirers they can only become a new client if
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
omeone refers them. And a condition of them becoming a new client is that they h
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
ve to refer at least 3 others to your business.
Astonishingly obvious
Astonishingly obvious
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
trong>
I believe that Type A customers are most likely to refer other Type
I believe that Type A customers are most likely to refer other Type
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
customers to you.
Remembering that Type C customers waste your time, frustrate
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
effort, increase costs, reduce profits, and generate pain and aggravation, I sug
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
est you let someone else work with them.
Type A customers will come when you si
Type A customers will come when you si
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ply ask your existing customers to spread the word about why your product is spe
.
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
ial and why they appreciate you.
Despite halving your customer base, you risk d
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
ubling your profits and reducing your wasted effort and costs. Are you up for it
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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