Advice You - Business

When I was just out of college, I was lucky enough to have a mentor. He was a successful businessman. He had a lot of energy and a million things going on at any given moment.

We’d meet a couple times a mont

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

h to talk about different things. I enjoyed our meetings because he did a good job of sharing with me some of the business and life lessons he had learned over the years.

One day we met for lunch at the Linc

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

Examples of combination products may in

ln Del. This was a popular place for business lunches. They had great food and servers with plenty of personality. While we were waiting for our food my mentor said “pull out a pen and some paper right now!”

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

He was like that, very direct and all about action. “Write these three things down,” he said.

The three things he had me write down were his “success rules”.

They were:

Always have a goal.
Never be a

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

raid to fail.
Show up every day.

Now, 20 years later I still remember these “success rules”. Even more important, I understand them better and I use them better than I did when I first wrote them down.

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

Combination pro

Over the years, I’ve seen them in action so I know from experience that they work. Any success I have I can attribute partly to my friend and mentor sharing these ideas with me.

I just told you a story.

Ins

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

ead of telling you a story, I could have just said, “these are three success rules that work…”

But I don’t think that would have been as effective in communicating the message. By telling you a story about s

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

omething from my life, I got your attention and (hopefully) held it to the end of the story. Because I made it personal and real, it has more impact.

If you are involved in selling then keep reading because

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

am going to give you a secret weapon to help you connect with more people and make more sales.

I’ve had the opportunity to listen to some very talented professional speakers. And, I’ve had the experience of

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

watching some not-so-skilled speakers.

The best speakers start with a story and they end with a story. They use personal experiences to connect with their audience and to deliver their message. They tell sto

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

ies throughout their presentation. They do it well and it works.

The other speakers give us facts, figures, charts, slide shows, etc. They often put us to sleep because they never connect with us. They never

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

Following aspects would a

really reach us.

What is true for speakers is also true for salespeople (or anyone who needs to communicate with others).

If you want to deliver a message or develop a relationship with someone, you need to

dd to the challenges in developing combination products:

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

connect with them. An easy way to connect with them is to tell stories.

Too many salespeople spend too much time talking about their company, their product or service and all the wonderful features they offe

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

. They go on and on about why we should buy from them. They bombard us with facts, figures and opinions that mean a lot to them but are mostly unimportant to us.

When you do this, your prospect tunes out. Th

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

e last thing they want to hear is you talk about your company or product or service. They know you’ll tell them how great it is so what you have to say is really not very interesting to them. And, the more fa

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

ts and figures you throw at them, the less relevant those facts will be because they’re not interested in all that information.

On the other hand, if you tell your prospect a story, they will listen. They wi

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

Professional from academic institutions, pharmaceutical industries, health care indust

l listen because your story will be:

Entertaining
Relevant
Personal
True

As listeners, we expect stories to be entertaining. As business people, we need them to be relevant. As human beings,

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

e want them to be personal.

Told right, a story is not a sales pitch.

A story is an entertaining way to deliver an important message. It’s an effective way to help you connect with someone.

Seth Godin wr

.

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

te a book about using the power of stories to promote your business. (All Marketers Are Liars: The Power of Telling Authentic Stories in a Low-Trust World) It’s currently a best seller at Amazon.com.

So, if

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

Companies that provide selfless information through particip

ou want to start selling more, find ways to tell people stories. Make them relevant. Make them personal. Make them entertaining. Most importantly, make them a regular part of your communication with prospects

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.adviceyou.org.ua/article/28004/adviceyou-SuperCharge-Your-Sales-and-Marketing-with-this-Powerful-Secret.html">Super-Charge Your Sales and Marketing with this Powerful Secret</a>

BB link (for phorums):
[url=http://www.adviceyou.org.ua/article/28004/adviceyou-SuperCharge-Your-Sales-and-Marketing-with-this-Powerful-Secret.html]Super-Charge Your Sales and Marketing with this Powerful Secret[/url]

This practical article is for people who take minutes in meetings of any size and any type. It re-focuses your thinking on minutes from traditional narrative minutes to modern business oriented and results oriented minutes. The article is also very useful for people who chair modern meetings and people who attend them as well.

Suddenly and silently, the world's demand for ethanol is about to explode, creating a global business that could make early investors wealthy. It's about time! Ever since I first met Elisabeth and began visiting her family's sugar cane farm in Brazil, we've been talking about a future in which millions of cars would run on ethanol.

Benefits driven headline with specificity, rather than generalities, can often be some of your most powerful headlines drawing your readers into your sales copy.

Tags

Links

Advice You - Super-Charge Your Sales and Marketing with this Powerful Secret

Related Articles: