Advice You - Business

To be sure, there are trends in our industry that are unmistakable. Compensation plans come and go. Promotional fads come and go. Product fads come and go. In fact, as volatile as our industry is --- practically every aspect of our bus

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

iness is in constant evolution and transition.

That’s what I LOVE about this business . . . the excitement and unpredictability of it, the very thing, I suppose, that scares a lot of people.

As a constant student of network marketing, I

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

Examples of combination products may in

have watched with interest as people have criticized it all and analyzed the weaknesses of companies out there. Some of the major complaints I have heard are:

“The compensation plan is too hard . . . it’s for big hitters.”

“The compens

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

tion plan is too soft . . . nobody can make any money.”

“The tools didn’t work.”

“My sponsor wouldn’t help me.”

“I paid my money and then I never heard from anyone again.” “I just can’t make it work like they said it would.”

“The claim

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

s about money are too ridiculous. I don’t believe it.”

Here are some of the headlines I encountered in a single issue of Network Marketing Monthly Journal:

“I earned over $250,000 in my 1st month!”

“$500 every day! I earned $10,750 my

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

Combination pro

1st month!”

“All you do is await your check.”

“First Ever!!! Everybody gets paid.”

“$100,000 in 7 weeks!”

“We do 95% of the work.”

“You keep 100% of the check!”

“No meetings! No rejections! No phone calls! No selling!”

What I f

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

und fascinating as I compared the list of objections to some of the promises was the discrepancy between the “promises” or the boasting and the real life results of many ad responders.

The trend in the industry now is toward creative busi

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

ness approaches and real honesty by the leaders in our industry about the work it takes to make a six-figure income in MLM. I was very moved when the owner of my company told us point blank at a training school that it was time for us to

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

become totally honest about what it really takes to be “successful.” He said that it is much more important that we keep people IN our business than that we SIGN them up, because most people in our industry are gone for all intents and pur

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

oses from any given company in less than 90 days.

To compensate for the obviously tentative commitment that many people make, my husband Taylor Hegan, and I developed a pilot internship program designed to coach, experience and train our

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

distributors. You might find it useful for your company, so the highlights are listed below.

High Performance Pilot Internship Program - the required commitments for entry:

Be a “AllStar” or “SuperStar” (an entry level starting point f

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

Following aspects would a

or a business builder to choose; simply plug in your position titles);

Make $100 autoship commitment in the Lifestyle Program (our company’s check qualifier for all 3 pay plans);

Commit to 20 minutes or more of fitness program of choice

dd to the challenges in developing combination products:

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

per day;

Commit to 20 minutes or more personal development work (books, tapes, seminars, etc.) per day --- ( I recommend the Forum by Landmark Education);

Have daily business activities (mutually agreed upon) and daily accountability;

A

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

gree to be fully coachable;

Develop and refine your own personal mission;

Agree to take on at least 3 interns and duplicate this entire process, accessing coaching from your mentor if you get slack;

Learn all the aspects --- over a mutu

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

ally agreed upon period of time --- that are an integral part of the First Fitness business, including but not limited to how to:

Develop your product story;

Develop your opportunity story;

Learn meeting room and booth set-up;

Master 3

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

way calling;

Start with 12 names or more on your names list and keep building;

Learn to assemble the mail package;

Collect and place a growing (aim for 1 more per day) group of customers;

Master the art of follow-up;

Learn to take cam

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

Professional from academic institutions, pharmaceutical industries, health care indust

era to all events;

Make a record accordion file;

Learn to handle all the parts of the business opportunity meeting: Company and management; Testimonial; Key product Overview; Compensation plan;and Call to action

Learn how to invite a

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

nd handle guests;

Get proficient at product training;

Learn how to do booths;

Understand the value of journaling;

Get comfortable with ad follow-up and response;

Dream big and learn to share your dreams;

Be willing to put yourself in

.

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

o the internship course at agreed upon times and places.

I hope you see how easy it would be for you to succeed, given this hands-on mentoring. If you are truly interested in making a full time income in MLM, it is your duty to implement

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

Companies that provide selfless information through particip

some variation of this so that your downline can have a real track to run on. It will make all the difference for you. Remember Taylor’s famous motto: “We build the people, the people build the business.”

Copyright 2006 Dr. Eileen Silv

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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