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Digg It - Making Networking Work
Several years ago, "networking" was the hot buzzword. Everyone was talking about building their network, because this was the secret to becoming incredibly successful. Well, 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 yes, networking is a great way to build a business, but not necessarily the way a lot of people went about it. Networking is still one of the best ways to get new customer ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in , and maintain relationships with existing customers. But you have to do it effectively. Going to every meeting you can find, and thrusting your business cards into the han lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. ds of every person you can corner isn't networking. To do it right, you have to be with the right groups, and make connections with the right individuals. Networking doesn't here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe mean having fleeting contact with as many people as you can, it means building relationships with the right people. Who should be in your network? Customers, potential cust d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro mers, entrepreneurs in other fields who serve the same types of customers you do, people who can mentor you, people you can mentor, people with information you need, and may 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 be even your competitors. Here are some ideas to keep in mind: Choose a networking group based on the type of people you want to meet. Who are your best prospects--busines 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 owners, HR professionals, writers, nurses, lawyers? Participate in groups catering to them. Don't overlook your "competition," but don't expect to build your business ther nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically e. Many of us join groups with others who do what we do. That's great for getting information about the industry and making connections within it, but you probably won't fin 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 customers there. Don't focus all your attention on your industry group. Choose a few groups and attend regularly, rather than attending one meeting each of dozens of group ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi . Just as with other marketing methods, people need to see you or hear of you several times before they feel comfortable enough to do business with you. Plus, most people wo ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a n't remember you all that well if they've only met you once. See the same people many times, and you will become familiar. Look for relationships where you can contribute, dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod s well as benefit. Networking is a two-way street. If you are doing all the receiving (or all the giving) it won't last long. Practice your 10-Second Brag(tm). You need to cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin be able to get your message across quickly and effectively, so know how to say what you do in a short, benefit-oriented statement. Offer to speak to groups which include th tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen people you want to reach. It's a great way of making yourself visible and sticking in the minds of your prospects. Take on responsibilities. Become an officer. Write a col 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 mn for the newsletter. Join a committee. Truly become a part of the group. And don't just focus on formal networking "groups." You can build connections any time you meet s ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust omeone who is a good fit for your network. Next time you're standing in line at the office supply store or post office, strike up a conversation. Pick up the phone and call y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products omeone you've only met once (or perhaps never met), someone you think you could help and could help you. Get to know people online--they can be important members of your net . 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 work. Your network can be a source of business, of friendship, of support, of information, of the things you need to build your business and lead a satisfying life. Somethi elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip g that important shouldn't be done scattershot. Put thought and effort into surrounding yourself with the right people, and being an important part of their networks as well 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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