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Digg It - How to Maximize the Benefits of a Networking Event?
Everyone needs to network: entrepreneurs, small business owners, job seekers!
But does everyone maximize the benefits of networking?
The purpose of networking is to build relationships so you will get lead
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
s from someone you know, or from someone who knows someone you know. When you attend a networking event the purpose is to meet business people from various industries to get exposure.
What networking is not
What networking is not
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
?
Networking is not a numbers game; you need to focus on quality and not on quantity. Some people think that they had a successful event when they have collected 30, 40 or more business cards, but they are
Networking is not a numbers game; you need to focus on quality and not on quantity. Some people think that they had a successful event when they have collected 30, 40 or more business cards, but they are
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
missing the real point. How many of these 30 or 40 people will you be able to follow-up? How many of these 30 or 40 will follow-up with you?
What is the purpose to collect a huge number of business cards 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
hat will end up in a shoe-box on one of your shelves?
Networking is not a place to sell. You have to be prepared to give your elevator pitch to introduce yourself, not give a sales pitch. If you attend an e
Networking is not a place to sell. You have to be prepared to give your elevator pitch to introduce yourself, not give a sales pitch. If you attend an e
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
vent expecting to find a client to close a sale right away, chances are you will be very disappointed. Furthermore the other attendees might not appreciate your attitude.
What networking is?
Networking is
What networking is?
Networking is
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
more than just shaking hands and collecting business cards.
It is about building relationships and being committed to help other business professionals.
It is about the quality of your contacts and not th
It is about the quality of your contacts and not th
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
e amount of your contacts.
It is about consistency. The best is to belong to two or three groups, attend their events regularly, get to know the other members, and in exchange they will get to know you and
It is about consistency. The best is to belong to two or three groups, attend their events regularly, get to know the other members, and in exchange they will get to know you and
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
trust you. When you see the same people over and over you develop a strong and relationship with them. The benefit of building relationships with a committed group of people will result in new leads for your
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
business.
It is about patience. The benefit will not appear overnight, and this is why you need to follow up with your contacts. Networking is like dating, one meeting is not enough to know someone. It wil
It is about patience. The benefit will not appear overnight, and this is why you need to follow up with your contacts. Networking is like dating, one meeting is not enough to know someone. It wil
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
probably take some time, some meetings, some lunches or some drinks before you really start doing business together.
Here are some tips on how to maximize the benefits of a networking event.
• Be prepared
Here are some tips on how to maximize the benefits of a networking event.
• Be prepared
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
when you attend a networking event. Know your goals. Are you looking for leads, partners, new clients, services?
* Bring your business cards and a pen to take notes on the back of the cards you receive.
*
* Bring your business cards and a pen to take notes on the back of the cards you receive.
*
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
Have an effective 15 to 30 second elevator pitch. Learn how to sell yourself before your services or products. People want to hear about you first and when they know you and trust you, they will buy your se
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
rvices or refer you to someone else.
* Have a brochure and/or a web site. Some people will probably want to hear more about your business later, so give them the opportunity to get the information they are
* Have a brochure and/or a web site. Some people will probably want to hear more about your business later, so give them the opportunity to get the information they are
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
looking for.
* Meet people, ask about their business or services. Be curious and ask about them. people love to speak about themselves, so ask questions and listen to their answers.
* Be a problem solver.
* Meet people, ask about their business or services. Be curious and ask about them. people love to speak about themselves, so ask questions and listen to their answers.
* Be a problem solver.
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
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
people will be more interested in you if you tell them how you can solve their problem instead of just hearing your story.
* Go to people; don’t wait for them to come to you. Some people are very shy, they
* Go to people; don’t wait for them to come to you. Some people are very shy, they
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
will be very happy if you make the first move.
* Go to events with a friend, a colleague, a client, and introduce people to each other.
* Send a thank you note or email to your new contacts. Thank them for
* Go to events with a friend, a colleague, a client, and introduce people to each other.
* Send a thank you note or email to your new contacts. Thank them for
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
their time and reintroduce yourself in a few lines. They met lots of people during the event and your business card doesn’t say everything about you. So it is good to reinforce your introduction.
* Give th
* Give th
.
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
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
em the link to your web site. Tell them about your newsletter, if you have one. This is the best way to stay in touch on a regular basis.
* Schedule follow-up meetings with the people you had a good connect
* Schedule follow-up meetings with the people you had a good connect
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
ion with, or if you think that you can help each other.
* Do it again and again. You will see that networking can expand your contacts, which will definitely help grow your business.
(c) 2005 Biba F. P?dro
* Do it again and again. You will see that networking can expand your contacts, which will definitely help grow your business.
(c) 2005 Biba F. P?dro
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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