Advice You - Business

Today, it happened again. A colleague called and said that he tried to join another networking group. This group promoted itself as a mastermind network group. Unfortunately in his discussion with most of the

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

members, they agreed that the group didn’t meet their needs. TRANSALATION: Business was not coming easy and required some work.

Every week as a business coach. I experience this same scenario and oth

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

Examples of combination products may in

ers. Such as the business person who approached me at a networking event and said that he or she could use my services. I was then asked to give a call the following week. Upon making the call and informing t

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 gatekeeper that I was returning a call, I was told that the person wasn’t available and didn't require my services at this time. In several of these cases, I had opportunities to provide additional referrals

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

, but the so busy business person lost. A benefit that I found within this encounters was identifying prospects that I truly do not want as clients.

Networking opportunites abound for people from d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

new" href="http://www.fastpitchnetworking.com">Fast Pitch Networking to Business Networking International. Additionally, there are countless chambers, civic 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 professional organizations that serve as vehicles to achieve networking goals. Unfortunately, most people fail to address the one obstacle that is keeping them from incredible networking success.

Several yea

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

s ago at a national conference, I saw a graphic from the speaker, David Herdlinger, that visually demonstrated this obstacle. For years performance experts, education specialists and organizational consultants

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

recognized that knowledge, skills and attitudes affected performance and hence the success of the individual or business. David had taken this challenge and reconfigured it into a way that would make more sense

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

for people. He placed the letters KSA into a quadrant. The upper boxes contained the letters K for knowledge and A for attitudes. In the lower left hand box was the letter S for Skills. To complete the quadr

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

ant, he added the letter H for Habits in the lower right hand corner. Now the letters K.A.S.H. fitted neatly into a box and a new tool – the K.A.S.H. Box – was developed.

The purpose of this K

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

Following aspects would a

.A.S.H. Box was to show that more often than not poor attitudes and habits contributed as much if not more so to performance failure or success. Yet, individuals spend most of their resources

dd to the challenges in developing combination products:

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

developing knowledge and skills by joining countless networking organizations and fail to develop the necessary attitudes and habits for networking success.

After listening to this dynamic presentation, I expa

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

nded David’s concept to help even reach more individuals by constructing the K.A.S.H. Box for Sustainable Change

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

/a>. Since the purpose of cash boxes is to hold the daily productivity as measured by change, I placed a large rectangular box under the quadrant. When cash is spent on the left side of the K.A.S.H. Box

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

without investing cash on the right side, the money is not reinvested into the individual, but is drained away. Hence, a negative return on investment happens. When focusing on both sides of the K.A.S.H. B

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

Professional from academic institutions, pharmaceutical industries, health care indust

ox, the efforts are reinvested into the change drawer and sustainable change happens.

Furthermore within this box, I identified that the left side(Knowledge and Skills) is all about learning – the acquisit

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

ion of knowledge. While the right side (Attitudes and Habits) is all about performing – the application of knowledge. The question is not whether an individual knows something, but rather does that individu

.

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

al want to do something?

So the next time you enter that networking event, ask yourself this question: Will my success be because of my knowledge or skills or because of my positive attitudes and habit