Digg It - Business

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I started this article with a note from Bonnie Hersey because I want to make the point th

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

at it isn't magic that makes a network marketing business work. What makes a business work (network marketing or any business) are good foundational business tools. Bonnie calls them "Savvy Sponsoring simple but direct concepts" and she's absolutely correct.

So many times

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

Examples of combination products may in

people come to me hoping for the "magic words" to get everyone to say "Yes." But the big truth is there are no magic words. There are excellent simple tools that make every working day productive.

But if that's true, why do so many people seem to struggle in Network Marke

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

ing? Why does network marketing have the less than stellar reputation it has? I think the reason for that is we are often our own worst enemy. Here's why.

In everything I do my underlying goal is to get you to move into strong entrepreneurial thinking. But I run into a fa

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

ir amount of resistance because of the notion that we don't want to be like Corporate America. Somehow the idea that running your home business like a real business translated into "being Corporate America."

Beware of this. Be really careful if you're a Corporate America

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

Combination pro

x-patriot or if you just repeated the phrase "not like Corporate America" that you don't throw the baby out with the bath water. Here's what I mean.

I made my mind up when I was 23 (a lot of years ago) I didn't ever want to be a part of Corporate America again. I didn't w

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

nt someone else to determine my future or tell me when to work or when not to work. So I started out on my entrepreneurial path. But that didn't mean that I jettisoned good solid business foundations. I just jettisoned the jerks and the nonsense rules.

Do you see the diff

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

erence? All businesses need good foundational business tools. And I mean all businesses. That includes knowing when you're going to show up for work and when the workday ends. You need to have real brick and mortar business hours. The difference now; it is your business, y

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

u determine those hours.

You also determine the hours you spend with your family - away from the business. None of this constant double tasking with the phone stuck to your ear. Or being like Pavlov's dog and answering the phone every time it rings. (Think about that for

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

minute. Is the business you're in so life-threatening you need to respond immediately every time the phone rings? And yes there are ways to create these boundaries without your team falling apart. In fact it will make it stronger.)

Now that you determine your future it m

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

ans having a clear idea of exactly what it is you're going to do in the time that makes you money. Those activities (I call them money making activities) typically come out of a financial projection each month. Yes, I know Corporate America has a plan, map, goals but that'

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

Following aspects would a

s not a good enough reason to jettison them - not if you want your business to grow.

First you determine what kind of volume you need to generate in order to make the money you want to make. And then you determine the exact activity you need to do in order to make the mon

dd to the challenges in developing combination products:

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

y. This may sound difficult but that's only because you don't know the simple steps that Bonnie now has under her belt. Anyone can learn to do this.

What we don't have to do that Corporate America typically does, is turn your working environment into a dog eat dog competi

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

ive arena with our focus on results results results. Do you see the difference? Keep reading for a more clear idea.

There are ways to have good strong challenging financial goals and enjoy the process of each day as we walk through our daily lives. Don't believe me? Read

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

Bonnie's note again. It all depends where your focus is. Just because we have a financial goal and the activity lined out to get to that goal, doesn't mean we need to make ourselves nuts or put high pressure on ourselves (or our team) to achieve the financial results.

If

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

his sounds like the kind of business you'd like to run:

1. Simple sound business foundations for you and your team. You start every recruit using these foundations the day they sign up. (Think about that for a minute. Every person you start begins their business with the

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

Professional from academic institutions, pharmaceutical industries, health care indust

ight tools to make their business productive, enjoyable and fulfilling from the get-go. In fact they are in money making activity within the first 24 to 48 hours they come into your business. No more burnout. No more pushing them into action or trying to keep them in actio

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

n. It's just natural!)

2. A friendly calendar that gives you time for you, your family and your business. How would your team like that?

3. Financial goals centered around easy to accomplish money making activity. Do I hear cheers? ;-)

4. All the emphasis on how you're

.

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

oing the activity rather than your results. The pressure is off and the real magic can take place. Yes this means having fun and learning while doing your business.

STOP here a moment to reflect on that. If your emphasis is on learning and having fun with everything you d

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

Companies that provide selfless information through particip

in your business (or your life for that matter) what do you think happens to the results? Do they go up or down? Let's see, you're having fun and you’re learning. Is that a combination for success for failure? How attractive is that? Would you like to learn how do to that

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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Will the transportation business ever be the same? Research-Transportation Sector

Every business needs to market its products and services. However, marketing is often confused with selling or even worse selling is confused with marketing. No matter how you look at it, most companies commit most of these 7 deadly sins.

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