Useful Advices - Business

There is a tendency of many salespeople to see their competition as only those businesses selling a sim

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

ilar product, service or idea. In other words, salespeople selling computers tend to see their competit

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

Examples of combination products may in

rs as other computer stores, retailers or manufacturers. People selling insurance, travel, furniture –

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

ou name it, whatever you sell, your competition is not just your direct competitors, but anyone and eve

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

yone who is trying to get a piece of the corporate or consumer dollar.

I can recall years ago, when I

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

Combination pro

was just beginning my career as a speaker and trainer, I lost my first big sales training contract to a

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

salesperson selling computer hardware. In my sales approach, I strategically positioned my features and

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

benefits so that any other speaker/trainer would have difficulty successfully competing with me. Probl

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

m was, I was successful at keeping my fellow speakers and trainers at bay, but ultimately lost the sale

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 someone who was selling something totally unrelated to training. I asked myself – where did I go wro

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

g?

It was simple – I saw my competitors as people who sold only what I was selling. WRONG. My prospe

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

Following aspects would a

t, the company president, told me that the training program I was selling was important to him and they

dd to the challenges in developing combination products:

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

would keep it on the back burner for the short term. Upgrading all of their computer hardware was more

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

mportant to him now.

What’s the answer? If you are going to continue to succeed and prosper in sales,

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

you have to be better, smarter, quicker, more flexible, more resilient, etc., etc., than every salespe

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

son in your territory no matter what they sell. Just being better than the people selling copiers, if y

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

Professional from academic institutions, pharmaceutical industries, health care indust

u sell copiers, is not enough.

Your clients/prospects have a limited amount of resources to purchase e

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

erything they need to run their businesses: payroll, taxes, supplies, manufacturing, shipping, utilitie

.

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

, marketing, etc. If you are going to get your share of this available cash, you have to convince your

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

Companies that provide selfless information through particip

lient/prospect that your product/service is more important than any other purchase they are considering

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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With the current high demand for accounting and finance professionals, you may find that it can be incredibly lucrative to become a contractor. A contractor, also often called a Consultant for higher-level positions, is an individual who is either employed by a third-party agency, or who contracts directly with an organization to provide services. Some companies rely heavily on contractors. Others have a culture or management team that discourages them. The services to be performed can either be functionally oriented (e.g. an Interim Controller) or project oriented. The scope, length, short and long-term goals of the project should all be outlined in depth prior to initiating a contract. Usually there is an hourly bill rate associated with the contractor’s work, but many other arrangements such as fixed periodic fees or fixed project fees exist. The work of the contractor is either supervised by the third-party agency that employs them, or someone at the client site. This is often dependent on factors such as the company or the nature of the work, the agency’s and the client’s supervisory capabilities.

The healthcare industry is one industry that could really benefit from Six Sigma implementation. Read this article to find out how and why.

As you prepare your message, understand that we humans aren't capable of absorbing all of the information you can gather. We are hit with data all day long and most of the time we don't absorb it. In fact, we are very selective in what we allow ourselves to retain. When we hit information overload, we turn our minds off and retain nothing.

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Useful Advices - Do You Know Who Your Competition Is?

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