Advice You - Business

One year from now, many of you will be in exactly the same position as you are now. You'll have the same or similar job...you'll have the same friends...and, you'll have the same income.

Nothing will have changed for you a

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

t all. And, assuming you want things to change and want to improve, that's really a shame.

How can I make this disturbing prediction?

My experience with my mortgage mentoring students and the mortgage people I have traine

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

Examples of combination products may in

has shown me this simple truth: Most folks in the Mortgage Business get stuck in a rut and are reluctant to invest money in their personal training and improvement, their marketing skills, and the tools to help them origin

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

te more loans.

They will spend hundreds and even thousands of dollars on advertising campaigns and yet balk at spending the dollars that are necessary to make those campaigns a success.

The Mortgage Business for the most

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

art, is what I call, a self-help industry. In other words, there are very few mortgage companies that will assist you in improving and honing your sales skills, or sponsor your attendance at self-improvement courses and sem

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

Combination pro

nars, or recommend and then subsidize the purchase of your professional library, or provide you the necessary marketing tools and technology to implement your marketing programs successfully.

What you see offered in this i

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

dustry, is what you get. Nothing!

In order to survive in the Mortgage Business, you need to take a lesson from the retailers at the corner of your street. They will re-invest a portion of their sales and purchase inventory

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

so that the store remains well stocked. Or, the large manufacturer across town that takes a chunk of their sale dollars and re-invests in additional raw material and equipment to expand and grow their business. You need to

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

make that kind of commitment as well. You need to take every opportunity to invest in improving yourself and your Mortgage Business.

Most Mortgage Professionals forget they are "building a business." We don't us words lik

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

"creating" a business, "producing" a business, or "constructing" a business. We are "building" a business because it's really a step by step process.

You are taking individual pieces and assembling them over time, to prod

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

ce a successful final product. Building takes time. It takes patience. It takes commitment. It also takes a monetary investment. Keep your goal in front of you...you are building your business.

Take the following personal

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

Following aspects would a

uiz and find out exactly where you stand. You're the only one that is keeping score:

( ) Yes, I subscribe and read at least two mortgage newsletters.
( ) Yes, I subscribe and actively participate in at least tw

dd to the challenges in developing combination products:

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

on-line mortgage forums.
( ) Yes, I purchase and read either a bound book or an electronic book each month that helps

me and my mortgage business.
( ) Yes, I'm usually involved in an evening or weekend cou

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

se covering finance, credit, or

self-improvement such as public speaking, memory improvement, etc.
( ) Yes, I review news sources daily to keep a breast of world affairs, current affairs and

economic happenings.

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

r> ( ) Yes, I purchase tools, programs, reports and information that can help me in my mortgage

business.
( ) Yes, I have attended at least two mortgage seminars in the last twelve months.
( ) Yes, I wo

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

k weekends on many occasions.
( ) Yes, I maintain a database of customers, contacts, and prospects and contact them on

average, once a month.
( ) Yes, I originate mortgages full time.
( ) Yes, I ha

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

Professional from academic institutions, pharmaceutical industries, health care indust

e a personal home computer with mortgage origination software installed.
( ) Yes, I love the mortgage industry and want to improve my business.

If you placed 10 to 12 checks - Congratulations...you're on your w

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

y to being successful. If you placed 7 to 9 checks - Good for you...you have a way to go. You can build your business faster by adding the areas you're missing. If you placed 4 to 6 checks - You're falling behind others i

.

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

the business and need to either re-commit or move on to another profession. If you placed 0 to 3 checks - You're beyond help. You're not serious about the mortgage business. Please unsubscribe from this newsletter.

Remem

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

Companies that provide selfless information through particip

er, you are building your business. That means you're taking individual pieces and assembling them, over time, to produce a successful final product. Those who see the process through to completion will reap amazing rewards

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 are in the business of moving stock, where you are a supplier, or if you need some innovative moving storage crate, consider using the services of a reputable company where you can hire or rent crates to make your move or logistics easier, safer and efficient

In today’s competitive business, companies must lower their operating costs and increase productivity but many companies are reluctant to upgrade with new tools and technologies. They fail to realize is that having aging software will result in higher operating costs, excess inventory – meaning a decrease in bottom line profits.

Figuring out what motivates people to buy is an entertaining exercise. It might even make a good party game.

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Advice You - Here's a Disturbing Prediction For Both You And Your Mortgage Business

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