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  • Digg It - Network Your Way to Success- 12 Tips to Jumpstart Your Business

    Lots of people network but few reap the rewards of zeroing in on their potential when it comes to networking. Here are some tips to he
    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
    lp fill the gap between where you are now and where you can be.

    1- Be Generous- Give without expectations and you will be surprised
    ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

    Examples of combination products may in
    t how it returns to you. It may not come from the same source but a new client, referral, or opportunity will show up because of your
    lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

    fforts.

    2- Be Consistent- As in marketing, the more consistent your networking efforts the more productive they become. Jay Conrad Le
    here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
    inson of Guerilla Marketing stated, “I hate to admit this, but mediocre marketing with commitment works better than brilliant marketin
    d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

    Combination pro
    without commitment.”

    3- Know & Clarify WIIFT- When creating your introduction clarify who your target market is and “what’s in it fo
    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
    them”. Sell benefits. Verizon sells wireless phone service but sells it when you believe they never stop working to fill your phone 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
    ervice needs. "Can you hear me now?"

    4- Get Involved- Getting involved puts you in a consistent position of visibility.

    5- Be a Powe
    nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
    ful Resource & Advocate for Others- Expand your network and be an advocate for others. Use your networking resources to hook up people
    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
    you know with others. What goes around comes around.

    6- Learn the Needs of Others then Help Fill Those Needs- Can your business fill
    ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
    heir needs? Who do you know who can? Either way you have a win/win situation.

    7- Build the Know- Like- Trust Factor- Building relatio
    ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

    Following aspects would a
    ships is more important than collecting lots of leads. Think quality vs. quantity. Connect deeper vs. on the surface.

    8- It’s More Im
    dd to the challenges in developing combination products:

    Which markets to tap where the combination products can do fairly well?
    Which combination prod
    ortant to Receive Business Cards than Hand Them Out- This puts you in a position to be able to follow up.

    9- Consistently Follow- Up-
    cts are meaningful and rational?
    Which therapeutic categories to select?
    Which Combinations can address unmet needs of the patients?
    Do combin
    It's not enough to have a network. Follow up and continue developing your relationships and network. Have a good reason to follow up o
    tions increase the patient compliance?
    What would be the developing cost?
    How to tackle the risks encountered during combination product developmen
    r ask "how can I help you?"

    10- Develop Advocates- Build relationships with Centers of Influence who connect with your ideal client 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
    customer. Offer incentives for referrals or provide great benefits.

    11- Be Curious- The 6 Degrees of Separation Theory states that w
    ping new procedures for reviewing their safety, efficacy and quality.

    Professional from academic institutions, pharmaceutical industries, health care indust
    are only 6 people away from finding out anything we need to know. Be curious and you will be surprised at what people, resources, and
    y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
    information are at your finger tips.

    12- Develop You- You can grow your business as big as you can grow yourself. Start there!

    To sh
    .

    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
    ft into action choose one tip to focus on for a week and see what new results come your way. Then try on another and so on. Before you
    elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

    Companies that provide selfless information through particip
    know it your networking efforts will be paving your way to success. Starting Now!

    Copyright 2004 © Beth A. Tabak, All rights reserved


    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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