Advice You - Business

After reading PART 1, I’m sure that you are hungry for more. Here it is. Below are the latest fundraising ideas from non-profits in my area. Each non-profit fundraising technique i

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

ncludes the price it was offered to me at, the price I think is reasonable AND what goes through the mind when I am being pitched with the technique (and some suggestions for nonprofi

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

Examples of combination products may in

ts to increase their donation potential).

Like last time - If you are a non-profit and you read this, please understand that I am a normal guy. I can also tell you that a lot of oth

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

er people think like me.

1. Non-profit Tree Planting
Price: $75 to plant one tree
Reasonable Price: $50 to plant one tree
Donor Thoughts/Suggestions: I’m all for prote

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

ting the environment and all that Al Gore stuff, so this is a good idea. I did hear that this particular non-profit was going to sell these little trees instead. Bad idea. I live i

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

Combination pro

n an apartment in the city, where would I plant a tree?

2. 501c3 Cookbook
Price: $10 per cookbook
Reasonable Price: $10 per cookbook
Donor Thoughts/Suggestions: I norm

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

ally would NOT buy a cookbook (because I eat Subway 7 days a week and there are plenty of free recipe websites on the net) but this one was different. It had things that I could real

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

stically make. I didn’t need to go to shopping for some rare $30 herb or bake something for 8 hours. I’m 26, I need instant gratification. The whole cookbook was full of interestin

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

g things to do with regular stuff that was already in my kitchen. Good job.

3. Charity Greeting Cards
Price: $20 for a pack of 10 charity greeting cards
Reasonable Price:

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

$0 for a pack of 10 charity greeting cards
Donor Thoughts/Suggestions: I never send cards, come on. I consistently buy cards on the way to people’s birthdays. Don’t lie you kno

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

you do it too!

4. Non-profit Personalized BBQ Sauce
Price: $15 for one bottle of personalized BBQ sauce
Reasonable Price: $10 for one bottle of personalized BBQ sauce

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

Following aspects would a

Donor Thoughts/Suggestions: Kind of pricey, but I took 3 bottles. Obviously don’t try to get me to buy BBQ sauce in the winter.

5. Charity Donation Scratch-off Cards
Price: $0

dd to the challenges in developing combination products:

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

charity donation scratch-off card
Reasonable Price: $0 charity donation scratch-off card
Donor Thoughts/Suggestions: Ok, I know what you’re thinking “you wrote about this i

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

n PART 1” – no this is different. This is stupid, really stupid. So this nonprofit wanted to give me a card “for free” and then I would scratch off 1 space and I would donate that a

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

ount to the charity in exchange for the lousy coupons that were on the back of the card. This is dumb. What if I was the one “Luck Winner” and scratched off the $500 donation? No t

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

hanks, I’ll pass.

6. Charity Golf Tournament
Price: $75 for a team of 3
Reasonable Price: $150 for a team of 3
Donor Thoughts/Suggestions: I don’t play golf but this s

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

Professional from academic institutions, pharmaceutical industries, health care indust

eems like fun. This included a buffet and a round of golf. The winning team gets $500. Not a bad deal! If you are planning on doing this just make sure it’s on a weekend (preferabl

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

afternoon time). It wouldn’t hurt if my business could get a little promotion at the event also.

That wraps up PART 2. You should have enough information to make your fundraising

.

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

efforts GREAT fundraising efforts. Listen to these suggestions and you will have a better offer for charity donors to consider. Along with these techniques you should also be collec

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

Companies that provide selfless information through particip

ting donations on your website. Your non-profit website is available to the public 24/7 and should be collecting donations, memberships and selling tickets to your fundraising events

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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It is far better to obtain professional advice on how to deal with your financial problems. The first thing that a qualified business debt consultant will want to know is the type of loans and financial obligations make up the entire situation.

The decision to extend credit is always going to be risky. Giving credit means that you are taking a chance of not being paid. Here are 3 ways to make the process easier!

The Four Business Building Tools By Mark Wardell When was the last time you were so impressed by a business that you just had to tell someone about it? Sadly, it’s probably been a while, but if you’re an entrepreneur, this represents a tremendous opportunity. Just think of the business potential that’s out there just waiting to be realized.

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Advice You - 6 More Non-profit Fundraising Ideas - From a Donor's Perspective PART 2

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