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Digg It - Feeding the Small Business Ecosystem
Forgive what may seem like a bit of a theoretical argument today. Sometimes you have to step back and get a sense of the biggest picture in order to understand how all the simple, practical parts relate.
Small business is often held together with sw
Small business is often held together with sw
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
eat, creativity and a heavy use of duct tape. (In case you ever wondered where I came up with the term Duct Tape Marketing.) That's the outer reality of small business. The inner reality, the part that most don't see and even the owner of the busines
; 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
might not understand, is more like a living breathing ecosystem.
I didn't really excel in science in school, but to me the parallel is obvious. In an ecosystem, the many parts are dependent upon each other for success. In a small business, this is
I didn't really excel in science in school, but to me the parallel is obvious. In an ecosystem, the many parts are dependent upon each other for success. In a small business, this is
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
qually true and just as hard to measure and control.
There are lots of small businesses out there that appear healthy and happy on the outside but are being held back by some component of the overall system. The very first thing you must do is ackno
There are lots of small businesses out there that appear healthy and happy on the outside but are being held back by some component of the overall system. The very first thing you must do is ackno
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
wledge this idea of dependant parts. If one isn't thriving, isn't even noticed, others will suffer.
It's very hard to have a healthy business if the employees don't feel appreciated. It's very hard to have a healthy business if clients don't know ho
It's very hard to have a healthy business if the employees don't feel appreciated. It's very hard to have a healthy business if clients don't know ho
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
your business is unique. It's very hard to have a healthy business if your referral partners don't know who makes an ideal client for your business.
There are countless examples of growing businesses that ignore what I'm suggesting, but I wonder if
There are countless examples of growing businesses that ignore what I'm suggesting, but I wonder if
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
they are fun places to work and do business with?
Thinking strategically about your own small business ecosystem requires understanding who all the players are, the experience you want them to have with your business, and the tools you need to emplo
Thinking strategically about your own small business ecosystem requires understanding who all the players are, the experience you want them to have with your business, and the tools you need to emplo
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
y to make this integration happen.
First let's take a look at the major players in the small business ecosystem.
You may have some combination of:
Suspects - folks you've identified that might need what you do
Prospects - those who have responded
First let's take a look at the major players in the small business ecosystem.
You may have some combination of:
Suspects - folks you've identified that might need what you do
Prospects - those who have responded
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
to your lead activities
Clients- someone who has purchased something
Advocates - purchases lots and tells others
Associates - your staff
Vendors - companies you might purchase from
Partners - companies that might help you produce a product or co
Clients- someone who has purchased something
Advocates - purchases lots and tells others
Associates - your staff
Vendors - companies you might purchase from
Partners - companies that might help you produce a product or co
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
create services and clients
You can define what each of these is in your business, but the strongest businesses understand that they need to embrace, feed and sell each - sometimes in order for one to thrive. For instance, your clients will become s
You can define what each of these is in your business, but the strongest businesses understand that they need to embrace, feed and sell each - sometimes in order for one to thrive. For instance, your clients will become s
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ronger advocates or referral sources the more they feel connected to your community of clients, associates and partners.
One of the ways to create these connections among all of the members of your ecosystem is to have and communicate in no uncertai
One of the ways to create these connections among all of the members of your ecosystem is to have and communicate in no uncertai
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
n terms your firm's unique core message. That message should contain a clear statement about your brand and how it's unique and who should care. The goal then becomes finding ways for your clients, advocates, partners, and associates to connect to th
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
s brand in a way that feeds them.
Technology and a host of new media tools have made the important task of feeding and integrating all of the parties in a small business world much easier.
Let's cover a few examples:
Blogs allow you to produce fre
Technology and a host of new media tools have made the important task of feeding and integrating all of the parties in a small business world much easier.
Let's cover a few examples:
Blogs allow you to produce fre
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
uently changing content and interact with clients and prospects
Websites allow you to give access to a great deal of educational content
Web apps like Basecamp allow you to collaborate with clients and partners in real time
Online meeting tools li
Websites allow you to give access to a great deal of educational content
Web apps like Basecamp allow you to collaborate with clients and partners in real time
Online meeting tools li
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
ke WebEx give you the ability to hold instant virtual sales presentations and peer-to-peer client conversations
Podcasting can open up doors to new media and give a true voice to the people in your firm
RSS technology allows you to create dynamic c
Podcasting can open up doors to new media and give a true voice to the people in your firm
RSS technology allows you to create dynamic c
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
ntent that can be personalized to the individual
CRM systems give you the ability to track a prospect's education process and know when they need more
Social software can give your clients the ability to generate marketing content for you and about
CRM systems give you the ability to track a prospect's education process and know when they need more
Social software can give your clients the ability to generate marketing content for you and about
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
you in an environment of trust
Autoresponders can provide education and training whenever it's requested
Intranet styled offerings and even chat platforms make remote and virtual communication with your suppliers and associates simple and seamless
Autoresponders can provide education and training whenever it's requested
Intranet styled offerings and even chat platforms make remote and virtual communication with your suppliers and associates simple and seamless
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
Content management systems can give your firm's employees and clients access to your entire searchable library of documented knowledge
Streaming video and video screen capture makes providing simple help and training a snap
I suspect you get the p
.
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
int from the list above, but, of course, technology itself isn't the answer. It is the beautiful way in which you tap the power it possesses to help meet and exceed your client's expectations, build a thriving community of partners, associates, and a
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
vocates around your business, and generate and close more deals, more profitably.
To do this you must embrace new tools, new media, and new technology and figure out how to bend them to serve the goals of feeding your unique small business ecosystem
To do this you must embrace new tools, new media, and new technology and figure out how to bend them to serve the goals of feeding your unique small business ecosystem
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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