Advice You - Business

With so many options on the internet and so many people chasing their dream of personal wealth, many lose sight of some of the bigger things in life - friendshi

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

p, ethics, business principles.

With this in mind I wish to outline the rules for being a great sponsor.

1) Know your product/service.
How can yo

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

Examples of combination products may in

u sponsor anyone into your company or multi-level marketing opportunity without knowing the ins and outs of the product, service. You should know everything yo

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

u can know about your company and their products. You should be using them yourself and believe that they fill a need in the average person's life. If you don

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

't believe in the product - don't expect others to. If your not using it, why will others? Is the product affordable, in demand, recurring? All these a quest

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

Combination pro

ions people will want to know the answer to before trusting their time and effort into a new venture. Are there people who will just want to buy the product an

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

d not partake in the business?

2) Know the reward plan.
You need to know the reward plan and believe its fair. How many levels does the program r

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

ward you for building? Are these levels achievable. How much money does the company return to the consumers/sellers. Understand the difference between a pyra

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

mid marketing plan and a marketing plan that rewards team building. Will the eventual payoff be worth the time and effort?

3) Know the company.
H

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

ow long has the company been in business? What is its reputation? Does it pay and deliver on time? Who owns the company? Why did they start it? What are th

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

ey like? Do they have a vision? Does the company have a long term plan? Are you guaranteed your returns?

4) Share yourself.
You wouldn't want t

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

Following aspects would a

o join with someone who won't give you their name, don't expect others to do the same. Tell people who you are, you contact details, your goals and your succes

dd to the challenges in developing combination products:

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

s stories.

5) Be ethical.
NEVER steal leads off your down line. If you want your down line to work hard show them how to convert their own leads

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

. Don't steal leads off other people. Individuals do have the right to choose their sponsor, but true leaders delegate and feel more satisfaction when their d

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

wn line succeeds than with their own success. This is because the know they are harnessing the true power of an MLM or network marketing approach - unleashing

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

the exponential power of numbers.

6) Know how to teach.
You need to teach your down line the methods you use to succeed. Don't keep a special ta

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

Professional from academic institutions, pharmaceutical industries, health care indust

ctic or ad to yourself. Share your best methods with your down line.

7) Be there to motivate.
Every now and then everyone gets down. Whether be

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

cause its a quiet month or an unexpected problem, be there to listen, encourage. When your down line succeeds immediately congratulate them on their success

<

.

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

b> 8) Be contactable.
Thanks to the internet, even if your on the other side of the world you can be contactable. Also thanks to tools like altavista

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

Companies that provide selfless information through particip

babelfish you don't even need to speak the same language as your down line. You need to be contactable preferably within 24 hours. Check your email regularly

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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