Advice You - Business

What is BNI?

BNI is a networking organization for small and medium sized businesses with chapters all over the world. Most groups have between ten and thirty memb

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

ers who meet once a week, usually in the early morning or at lunch. The purpose of BNI is to generate sales for its members through referrals. In joining a BNI group each member co

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

Examples of combination products may in

mits to actively looking for potential customers for other members--the members of each BNI group act as each other's "sales team." Each group has only one representative of any gi

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

ven profession or business, allowing all relevant referrals to go to that individual and ensuring that there is no competition within the group for referrals.

Each BNI group track

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

the revenue generated from referrals by each member. This information is used both to monitor individuals and to track the success of the group as a whole, as well as the group's

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

Combination pro

progress towards its specific yearly revenue target. Each member's standing within the group is also recorded. To do thisBNI uses a point system based on two things:

Passi

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

g a referral

Bringing a guest

Beginning

BNI groups generally have one or two members waiting at the front of their meeting places to meet other

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

members and guests as they arrive. Another member has the job of recording attendance, collecting fees and welcome guests. Members pay the chapter dues by the month and guests pay

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

around $15 per meeting. Substitutes do not have to pay. Substitutes and guests also receive name tags. Usually there are about ten or fifteen minutes before the official start of t

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

he meeting for informal conversation between members and guests.

The meeting begins with an introduction of the guests, substitutes and executive members. This is followed by a br

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

ef description ofBNI by a member chosen at random by the groups president. Next comes a presentation by the groups education committee. These presentations are intended to improve

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

Following aspects would a

embers' sales, marketing and networking skills.

Middle

Following the presentation by the education committee, members of the group begin, one at a time, doing si

dd to the challenges in developing combination products:

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

xty second introductions to tell the group and guests about their business. These introductions are timed, with a warning before the last 15 seconds. Usually the introductions cont

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

in the name of the member, their business and their ideal referral, but members are free to say anything they want in their 60 seconds. After members and substitutes, guests give t

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

heir introductions. At most BNI groups substitutes speak on behalf of the person they are replacing, not for themselves.

Ending

After the 60 second introductions

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

are finished, one member,different each week, gives a ten minute presentation about their business. The purpose of these presentations is to teach other members about the business

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

Professional from academic institutions, pharmaceutical industries, health care indust

so as to enable them to more effectively pass on referrals. There is usually a short question period after the presentation.

Next, the members of the chapter pass each other refer

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

als. These referrals, and their value, are recorded on special forms and passed at the meeting to the intended recipient, while the chapter keeps another copy. Guests and subs are

.

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

not expected to pass referrals, but are asked to give their impressions of the group and meeting.

The meeting is concluded with networking announcements and a quote, read by the g

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

Companies that provide selfless information through particip

oups president. Following the official end of the meeting, members often spend ten or fifteen minutes talking to each other and sometimes discussing referrals or possible referrals

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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Learn useful tips on how to react, taking care of your body posture, language and other body signals that reveal more about you during a job interview.

Building sound relationships with your customers is the one of the keys to making your business a success. Humans build relationships all their lives, be it with their friends, family, employers, colleagues or peers. As humans, we like to stick to what we know, and this behavior reflects in the choices people make regarding which business organizations to deal with. Building customer relationships is as important to your small business as the price and quality of what you are selling.

How well do we know your consumers? Do we ask them the right questions in order for them to give us the right answers? When researching them do you ask your consumers if they blog and where? Do you ask them if they podcast? Do also ask them what they go online for - for information, to purchase, for entertainment and where - which sites?

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