Advice You - Business

Most of my clients come to me for help actually knowing what to do to get clients. Many have been in business for years and years and have experienced what it’s like to have lots of clients. But thin

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

gs have changed and that’s no longer the case. So they’ve since read plenty of books, bought manuals, attended 4-day workshops, heard countless teleclasses, but still don’t have all the clients they need.

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

Examples of combination products may in

b>You’d think, with all that information, they’d be ready to implement it all. I mean, doesn’t it just take putting one foot in front of the other? What I’ve discovered is it’s not that easy. Sure, you

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

may know you have to get clear on what you offer. Then, once you do that, you’ve got to create a niche, a compelling marketing message, then focus on who your ideal clients are, and then market to them cons

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

stently.

But because of the Information Age that we’re smack in the middle of, there are almost TOO many things to work on. Recently, a client asked me to help her set up an affiliate program. She a

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

Combination pro

so asked me about shopping carts and other complicated stuff like that. The thing is she still didn’t have a business card, a website, or an ezine in place. Trust me; she’s far from being alone.

We’re a

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

ll affected with the ‘Bright Shiny Object’ Syndrome, in one way or another. Sometimes I find myself caught in the web of all the bright shiny opportunities I want to take advantage of. The problem is, t

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

ese distract us, pull away our focus and dilute our efforts.

‘Bright Shiny Objects’ stop us in our tracks. I know from experience, because that’s what happened to me this past year. At the beginning

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

of last year, I had purchased over a dozen home study courses, had signed on to a yearlong wealth building program, and had committed to (and paid for) a 3-year round of wealth, personal growth, and busine

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

s courses. Oh, not to mention being part of two mastermind groups, doing active personal growth and development, and working with a coach. That didn’t even include my responsibilities to my clients, my fami

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

y, and myself.

Seriously, WHAT was I thinking?!?

No wonder I couldn’t focus on anything and get anything really accomplished (well, according to my standards). I had been distracted by all t

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

Following aspects would a

he glittering opportunities, wondering what to work on first. Each “thing” on my list was pulling me in a different direction and when I sat in my office, I couldn’t seem to get any work done. All the shiny

dd to the challenges in developing combination products:

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

projects were calling out at me from the bookshelf. I felt compelled to do it all; therefore, nothing was being done.

With help from someone I trust, I decided to take a hiatus from everything. I to

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

ok a break from DOING, and after a couple of weeks, I started prioritizing. What’s going to make the most sense to work on first? What will bring in the most revenue effortlessly? What’s most authentic and

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

atural for me right now? What do my clients and subscribers need most from me for them to succeed?

Now, it’s so clear. I know what to do next. I’ve prioritized and I know what foot to put in front of th

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

other. Ironically, that’s what I do with clients every day. For example, the client we talked about earlier. It’s clear that before we work on affiliate programs and other complicated stuff, we needed

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

Professional from academic institutions, pharmaceutical industries, health care indust

to focus on what’s going to bring her clients, in this case, a simple Client Attractive website, an e-zine that will establish her know-like-trust factor, more networking and speaking. First things first. S

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

iny objects later.

YOUR ASSIGNMENT:

Start thinking about how you’re working these days. Are you focused? Are you operating in a step-by-step process, or are you confused about what to do nex

.

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

t, pulled into a bazillion directions, not getting anything done? Decide to put one foot in front of the other and be OK with not being seduced by the Bright Shiny Objects beckoning you. Get some help prior

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

Companies that provide selfless information through particip

tizing and implementing if you need to. You’ll have time later on for all the other glittering stuff, AFTER you’ve implemented the proven basics that work.

© 2007 Client Attraction LLC. All Rights Reserved

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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