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Are you shy? Does the thought of networking make you tense up? If so, you’re not alone. Below is a question recently forwarded from one of our Newsletter subscribers, explaining this same issue, followed by powerful networki

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

ng advice for every design professional:

Last week, I attended a networking event – it was a DISASTER! I am shy to begin with, so I knew I wouldn’t feel comfortable. But I had no idea how hard it would be. Everyone seemed t

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

Examples of combination products may in

o already know everyone else. I didn’t know when to interrupt a group and introduce myself. When I finally did, I got all tongue-tied and was not at all impressive. Can you give me some advice on how to better handle my next

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

networking event? In light of my shyness, should I continue going to networking events? Could it really make a difference in my business?

In answer to your last question: ABSOLUTELY! Getting out in your community, meeting

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

people and getting to know them, introducing others to your business, etc. are all VERY important to your long-term success. Believe me, you are in the majority where comfort levels are concerned. It’s rare to meet someone wh

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

Combination pro

o “couldn’t wait” for their first networking event. More commonly, networking brings with it fear, uncertainty and anxiety. Here’s some advice to maximize your networking efforts:

* Understand your purpose. Networking is NO

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

about sales. Networking is NOT a place where you “push” yourself and/or your products and services on everyone you meet. To the contrary, networking is an opportunity to build relationships with others. This means that your

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

purpose in attending is to meet people and begin to build a genuine, caring relationship with them. Getting to know other people – taking a sincere interest in them – is priority #1!

* Quality v. quantity. So many business

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

owners make networking into a “contest” – to see how many business cards they can collect. That’s their goal: to collect as many cards as possible. My reaction to that: WRONG! Remember, your purpose is to meet people and g

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

t to know them in order to establish rapport with them. As a result, I advise my clients to meet as few as 5 people, but spend enough time with them to enable you to begin to establish a true relationship. Think about it: wh

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

at good is leaving an event with 50 cards? You could get business owners’ contact information in the yellow pages. What makes a networking event successful for you is building quality relationships with people – be they prosp

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

Following aspects would a

ective clients or others who can assist you in moving your business forward.

* Listen ACTIVELY to other people. When conversing with people at the event, be sure to do more listening than talking. (Remember: you have 2 ears

dd to the challenges in developing combination products:

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

and only 1 mouth – use them in that proportion.) Truly taking an interest in the other person requires that you not only ask questions (such as “how is your business going?” “what is your greatest challenge?” or “how long hav

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

e you been in business?”), but that you LISTEN to their response. Some networking events are extremely loud, making it difficult to hear what the person next to you is saying. But you must make active listening a priority.

W

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

hy is this so important? Because after your conversation is ended, you should have learned at least one thing about the other person so that, when you follow up with that person, you can reference that aspect of the conversati

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

n. (Wherever possible, jot down a few notes about the new contact – e.g., her children’s names or ages, phrases to describe her ideal client, etc.) on the back of each business card you acquire during the event. This will hel

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

Professional from academic institutions, pharmaceutical industries, health care indust

p trigger your memory when following up later.) The other person WILL be impressed. And that may very well get you one step closer toward your next sale.

* Follow up! Follow up! Follow up! Shortly after the event, be sur

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

e to follow up with the new contact. Ideally, you should have mentioned your reason for being back in touch at the networking event (For example, when saying “good-bye” you may have stated: “I’ll be in touch soon to set up a

.

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

unch appointment.” or “I’ll be sure to send you that article . . . I know you would find it interesting.”) At a minimum, within a day or two following the event, take the time to write a hand-written note expressing how much

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

Companies that provide selfless information through particip

you enjoyed meeting the new contact at the event. Staying in regular contact is the first step toward building a lasting relationship – a relationship that should be approached as a win/win for all parties involved.

Good luck

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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Theory consistently states that the reduction of hierarchy and “flat” organisations are better suited to increasing optimal performance. Reality shows us that even the flattest organisations have hierarchy and that it cannot be completely eliminated. Further, hierarchy has value – for example, there are compelling arguments that people look for and follow good leaders.

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