Advice You - Business

People often ask me why I am so focussed on “good clients”. So today I am going to tell you the story of the

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

lessons I’ve learned over the last 20 years of running my own successful Marketing and Business Coaching bus

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

Examples of combination products may in

inesses.

When I first started as a Marketing Consultant I had a really lucky break. My very first client was

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

a good client. They were agricultural machinery agents and they behaved in a way that I came to value very hi

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

ghly.

They told me what they wanted and didn’t change their minds. They supplied me with a constant stream o

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

Combination pro

f work. And, they paid their account within 30 days.

My next two clients were not good clients. They changed

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

their minds constantly, rejected a lot of the work I did and refused to pay even though it wasn’t suitable be

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

cause of their mind changes. And, they took forever to settle their bills.

My experiences with these three c

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

lients taught me the really valuable lesson – don’t take any old clients, even when you’re desperate - focus

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

our efforts on finding and winning really good clients and you will have a successful and profitable business

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

.

So, yes, these days I really focus on good clients. I value them above all others. And I will not take on

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

Following aspects would a

anyone who mucks me about. In fact at the first sign of trouble I am happy to resign a troublesome client in

dd to the challenges in developing combination products:

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

rder to make room in my portfolio for a good client.

For the last 20 years I have spent a great deal of my t

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

ime developing ways to find and win good clients. Now I am making an ever-increasing number of videos to show

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

others the techniques that have worked so well for me and the companies I have helped over the years.

Wheth

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

r you’re just starting out or you’re a hardened professional I urge you to think about what I have said in th

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

Professional from academic institutions, pharmaceutical industries, health care indust

is short article. Save yourself a great deal of heartache. Go through your client list and cull the poor paye

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

rs, those who are not clear what they want and keep changing their minds and those who give you sporadic bits

.

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

of work.

Good clients are worth their weight in gold. They are the ones who deserve all your attention and e

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

Companies that provide selfless information through particip

nergies. They will provide you with a solid foundation on which to build a successful and profitable business

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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If you do medical billing that involves barcoding, this article covers some common problems that you might have and how to correct them, including scanners that don't work at all.

It's in YOUR head. It's in YOUR dreams. It's YOUR challenge. It's YOUR reward. You live your business 24/7 and it IS personal - it's about YOU - whether you are a work at home mom, a serial mom or woman entrepreneur, or a career representing a company you love working for. No one else knows your product and service like you so put to use the strategies that will help you communicate to others what they will remember - once they remember YOU!

Are you interested in growing your business beyond your current limits? Are you willing and ready to learn a different approach to your business? Do you know, what you don't know?

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