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"I know I need to market my business in order to grow my business, but right now I can't afford it."

I have heard this statement numerous times from business owners that are strug

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

gling to stay in business. They are hanging on by a frayed string that will break at any moment, resulting in any chances at a successful business to come crashing down.

But it do

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

Examples of combination products may in

sn't have to happen that way. Instead of focusing on what they don't have and not doing anything to market their business, struggling business owners should focus on making the

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

ost of what they do have.

If you are on a shoestring budget, it IS possible to stretch the string and generate revenue for your business.

Here are Five Tips to Stretch the String

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

1. NETWORKING:

The key to maximizing opportunities with Networking is to do it effectively and consistently.

Don't attend events with the intention of trying to sell your servi

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

Combination pro

es to everyone you meet. Go with the intention of getting to know more about other business owners and their services.

Set a goal to make a connection with at least three busines

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

owners and immediately follow up with them after the event. When you take their business card, ask them if you can have another one to pass on to someone who may need their ser

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

ices in the future.

2. ARTICLES:

This is one of the most effective ways to market your business when you have more time than money.

Write about what you know and use your knowle

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

ge to help your target market.

If you get overwhelmed by the thought of writing to a large audience, focus on writing to one person...your ideal client.

3. NEWSLETTER:

You have a

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

ot of affordable options in this area.

You can create an electronic newsletter (ezine) at no cost or very low cost.

You can create a one page print newsletter and mail it to your t

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

rget market or use as a handout.

If you don't have the budget to pay for postage, you can also convert your one page newsletter to a .pdf document and email it (with permission) to

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

Following aspects would a

your target market.

While there is no limit to the amount of pages you can put in your newsletter, keep in mind that the string will snap as the number of pages increases due to r

dd to the challenges in developing combination products:

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

sing publishing costs.

4. SPEAKING:

Seek out speaking engagements to market your business. As the guest speaker, you will be the center of attention and will have a great opportuni

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

y to maximize your marketing efforts.

Be sure to ask the audience to fill out a feedback form that asks for their contact information. You can offer an incentive to encourage more

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

esponses.

If you distribute handouts, include your contact information along with a special offer just for attendees in the handouts.

5. BUSINESS CARD:

Increase the effectiveness o

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

this little marketing dynamo by utilizing the back of the business card.

Think about your most wanted response and then capitalize on all of that real estate space to get it.

Thi

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

Professional from academic institutions, pharmaceutical industries, health care indust

k beyond putting a yearly calendar on the back. How about a special offer for your target market? Valuable tips that solve the problems of your target market?

Give the recipients of

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

your business card a reason to hold onto your card or to contact you immediately.

Use these five tips to generate more ideas and revenue for your business. When it comes to stret

.

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

hing the string, you are only limited by your imagination and attitude.

If you invest your time wisely while on a shoestring budget, your return on investment will eventually yield

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

Companies that provide selfless information through particip

nough revenue to give you an actual marketing budget that will allow you to take your business to new heights.

Copyright 2005 Black Unicorn Communications, Inc. 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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Underwriter jobs in the insurance industry in the UK are a part of a bigger picture—a machine in which underwriting is a cog. Each cog in the machine must be working properly in order for the machine to work. Underwriting is a process that is used to assess the process of providing access to insurance for clients. The basis of underwriting is derived from the Lloyd’s of London insurance marker in London, England. The term underwriting was for financial backers who would take on some of the risk associated with a particular venture in exchange for a monthly payment. The financial backer of the venture would literally write their names under the risk information on a Lloyd’s of London slip.

The sea change that most businesses face today is increasingly becoming the norm rather than the exception. The change is driven by globalisation, technological and social dynamics. Hovering around the status quo is like a cancer stricken person waiting for his condition to get better. If you continue doing the same, things are not going to get better. There is a saying that you cannot teach old dogs new tricks. To survive in today’s competitive market, old dogs need to be taught new tricks.

Knowledge workers are therefore extremely valuable because they keep the factories churning, the customers satisfied, the new products coming out the door---they are the backbone of your company. So how do you keep these highly skilled and valuable workers from jumping ship---from going to a competitor? Learn four ways to motivate this unique group of workers.

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